Call Start: 16:30 January 1, 0000 5:03 PM ET
Danimer Scientific, Inc. (NYSE:DNMR)
Q2 2023 Earnings Conference Call
August 08, 2023, 04:30 PM ET
Company Participants
James Palczynski - IR
Steve Croskrey - CEO & Chairman
Michael Hajost - CFO
Conference Call Participants
Thomas Boyes - TD Cowen
John Tanwanteng - CJS Securities
Operator
Greetings. Welcome to the Danimer Scientific 2023 Second Quarter Earnings Call. I would now like to turn the presentation over to Mr. James Palczynski, the company’s Investor Relations representative.
James Palczynski
Thank you, Operator. Good afternoon, everyone, and thanks for joining us today for Danimer Scientific’s 2023 second quarter earnings call. Leading the call today will be Steve Croskrey, Chairman and Chief Executive Officer; and Mike Hajost, Chief Financial Officer. I’d like to note that there is a slide deck that accompanies today’s discussion, which is available on the Investor Relations section of our website, at danimerscientific.com. As we begin, I’ll call your attention to the company’s safe harbor language, which is published in our SEC filings and on Slide 2 of the presentation I just referenced.
On today’s call, we may discuss forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, among other things, statements regarding future results of operations, including margins, profitability, capacity, production, customer programs and market demand levels. Actual results could differ materially from what is expressed or implied in our forward-looking statements. The company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by law.
Today’s presentation also includes references to non-GAAP financial measures within the meaning of SEC Regulation G. We believe these non-GAAP measures have analytical value but note that they should be taken as supplementary measures of performance and not as alternatives to GAAP results. We have provided reconciliations for non-GAAP financial measures to the most comparable GAAP financial measures in our earnings release and our presentation.
Thank you, and it’s now my pleasure to turn the call over to Steve Croskrey, Chairman and Chief Executive Officer of Danimer Scientific.
Steve Croskrey
Good afternoon, and thank you for joining us. Our second quarter financial results were consistent with our expectations. In particular, we are pleased to have delivered year-over-year and strong sequential growth in PHA-based sales. More importantly, as you should have seen in a separate release, our Part II Application for the Department of Energy loan guarantee program has been accepted. We’re very excited to take the next steps, and we’ll move into the confirmatory due diligence and terms negotiation process. If successfully completed, this program will provide funding necessary for us to complete our greenfield facility.