Accounts payable                            (124)             2,819 
    Accrued expenses                          (3,082)             1,707 
    Operating lease liability                   (298)              (529) 
    Deferred income                               --              1,374 
    Other liabilities, current                (1,507)             2,846 
    Other liabilities, long-term                  --             (2,636) 
                                       -------------       ------------ 
Net cash used in operating 
 activities                                  (45,123)           (46,447) 
                                       -------------       ------------ 
Cash flows from investing 
activities 
    Purchases of property, plant, 
     and equipment                            (5,117)           (90,113) 
    Purchases of marketable 
     securities                           (1,518,398)        (3,092,218) 
    Sales of marketable 
     securities                            1,456,532          3,057,700 
    Maturities of marketable 
     securities                               86,441            129,081 
                                       -------------       ------------ 
Net cash provided by investing 
 activities                                   19,458              4,450 
                                       -------------       ------------ 
Cash flows from financing 
activities 
    Payment of notes payable                  (4,793)                -- 
    Proceeds from Canadian 
    Government Research and 
    Development Program                        8,097                 -- 
    Proceeds from exercise of 
     stock options                               245                145 
                                       -------------       ------------ 
Net cash provided by financing 
 activities                                    3,549                145 
                                       -------------       ------------ 
Effects of foreign exchange rate 
 changes on the balance of cash 
 and cash equivalents, and 
 restricted cash held in foreign 
 currencies                                    3,010               (390) 
                                       -------------       ------------ 
Net decrease in cash and cash 
 equivalents, and restricted 
 cash                                        (19,106)           (42,242) 
Cash and cash equivalents, and 
 restricted cash, beginning of 
 the period                                   75,502            108,348 
                                       -------------       ------------ 
Cash and cash equivalents, and 
 restricted cash, end of the 
 period                             $         56,396      $      66,106 
                                       =============       ============ 
 
 
 
                   Origin Materials, Inc. 
         Reconciliation of GAAP and Non-GAAP Results 
                  Three Months Ended     Nine Months Ended 
                     September 30,          September 30, 
                 --------------------  ---------------------- 
(in thousands)     2024       2023       2024       2023 
                  -------    -------    -------    ------- 
Net (loss) 
 income          $(36,763)  $ 30,931   $(70,175)  $ 34,236 
Stock-based 
 compensation       2,459      2,380      7,776      7,031 
Depreciation 
 and 
 amortization       2,822        386      7,946      1,021 
Impairment of 
 assets            15,170         --     15,170         -- 
Investment 
 (income) 
 expenses, net     (1,745)     1,130     (5,447)    (4,308) 
Interest 
 expenses              86         --        313         -- 
Loss (gain) in 
 fair value of 
 derivatives           43       (126)      (237)      (620) 
Loss (gain) in 
 fair value of 
 common stock 
 warrants 
 liability          2,285    (22,815)     2,913    (27,438) 
Loss (gain) in 
 fair value of 
 earnout 
 liability          2,941    (18,757)     2,401    (39,137) 
Other expenses 
 (income), net        517     (2,603)     1,170     (1,655) 
Income tax 
 expenses             231         --        403         -- 
                  -------    -------    -------    ------- 
Adjusted EBITDA  $(11,954)  $ (9,474)  $(37,767)  $(30,870) 
                  =======    =======    =======    ======= 
 

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    CONTACT:    Origin Materials 

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Media:

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(END) Dow Jones Newswires

November 14, 2024 16:01 ET (21:01 GMT)