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)
======= ======= ======= =======
View source version on businesswire.com: https://www.businesswire.com/news/home/20241114694879/en/
CONTACT: Origin Materials
Investors:
ir@originmaterials.com
Media:
media@originmaterials.com
(END) Dow Jones Newswires
November 14, 2024 16:01 ET (21:01 GMT)