Danimer Scientific, Inc. (NYSE:DNMR) Q3 2022 Results Conference Call November 8, 2022 5:00 PM ET

Company Participants

Steve Croskrey - CEO

Mike Hajost - CFO

Conference Call Participants

Jon Tanwanteng - CJS Securities

Laurence Alexander - Jefferies

Thomas Boyes - Cowen & Company

Operator

Thank you for standing by. This is the conference operator. Welcome to the Danimer Scientific, Inc. Third Quarter 2022 Earnings Conference Call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After the presentation there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Brad Grey, [ph] ICR. Please go ahead.

Unidentified Company Representative

Thank you, operator, and thank you, everyone for joining us today for Danimer’s third quarter 2022 earnings call. Hosting the call today are Danimer’s CEO, Steve Croskrey; and CFO, Mike Hajost.

During our discussion today, we will be referring to our earnings presentation which is available on the Investor Relations section of our website at danimerscientific.com.

On slide 2, please note that we may discuss forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, future results of operations, capacity, production and demand levels that could differ in a material way from those expressed or implied in the forward-looking statements. We assume 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 certain non-GAAP financial measures. Reconciliations to the most comparable GAAP measures can be found in the earnings presentation.

I will now turn the call over to Steve.

Steve Croskrey

Thank you, Brad. Good afternoon, everyone. Thanks for joining.

Our third quarter results were in line with our expectations as we progressed further against our multifaceted growth strategy to transform the plastics market. We produced third quarter revenues of $10.4 million with PHA revenues up 26% year-over-year, now representing 51% of our revenue. With additional capacity available to us from the expansion of our Kentucky facility during the second quarter, we believe we are extremely well-positioned for several significant expected customer product launches in the months ahead. We have been through a long journey that we believe puts us significantly ahead of any competitors in terms of our core competencies of application development and commercial scale production.