Amyris sees Q1 revenue $56M, consensus $52.51M

The company expects to deliver Q1 2023 total revenue of approximately $56M. The company previously guided to revenue of approximately $50M during the fourth quarter earnings call. Gross profit and operating expense are expected to be sequentially significantly better compared to Q4 2022. Amyris continues to execute its strategic agenda with a keen focus on cost efficiency and capital structure and the liquidity required to self-fund its business plan. The company is in process of a strategic review of all aspects of its cost structure in support of "Fit-to-Win", with the objective to accelerate cost and efficiency improvements. The company progressed insourcing production of its ingredients at Barra Bonita, the world’s most technologically advanced biomanufacturing facility. Critical issues from the commissioning and start-up phase have been addressed and the plant is delivering product at target. "We are pleased with the start of the year and are focused on operating with a more efficient cost base while continuing to deliver strong revenue growth," commented John Melo, President and CEO. "Our strategy to focus our portfolio, reduce our cost base, expand our strategic partnerships and to divest non-core assets is designed to self-fund our business operations. Our liquidity plan includes significant cost savings, attaining the estimated $335 million of earnouts and milestone payments over the next three years from current strategic agreements and executing on an estimated $200 million from additional transactions this year."