AMRS - Earnings call transcript Q1 2020

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Operator

Welcome to the Amyris First Quarter 2020 Financial Results Conference Call. This call is being webcast live on the Events page of the Investors section of Amyris's website at amyris.com. This call is the property of Amyris and any recording, reproduction, or transmission of this call without the express written consent of Amyris is strictly prohibited.

As a reminder, today's call is being recorded.

You may listen to a webcast replay of this call by going to the Investors section of Amyris's website.

to of call Communications. Investor like DeNardo, to now Director Senior Relations would turn over the Peter I and Corporate go ahead. Please

Peter DeNardo

us Chief Executive Officer; Thank you Kieftenbeld, Chief are morning Good and Han Melo, today. Eduardo Officer; joining Alvarez, John Chief you, today Officer. With and and President Financial me Operating Christy. for thank

The of please to note non-GAAP these financial will release X our in Form Slide that SEC's turn to X-K, current to or information you summary gross our including -- website Please measures, directly the of is non-GAAP furnished call the webcast financial with I the respect GAAP sec.gov. distributed note accompanying and release, on margin is news which now on hear of contained available to is also presentation this as the would measures financial discussions at investors.amyris.com. the like report in to Reconciliation comparable on our today press website figures. on slides at well as available most measures

relevant on update any Form XX-Q Please Amyris result whether or risks on forward-looking and including These statements, uncertainties, contained Exchange XXXX and Form those information, to the including detailed reports reports future and call, on Amyris's XX-K, the as actual SEC detailed events Form quarterly and on about time Securities filings for the results current beyond. forward-looking statements their refer this disclaims financial and information and operating reports new discussion events obligation management's X-K. of make Amyris our projections have from and statements occurred will we time of to that and activities events and for these Commission, of on Amyris to uncertainties. due may based impact are anticipated in makes current in risks financial to expectations a not and yet future differ results filings During annual business to circumstances otherwise. including materially

note Conference, next Fifth to on event been hold Amyris to by individual be the to One-on-One like Oppenheimer phone date York has May scheduled New changed day. same one-on-one held considerations. the XX due Emerging virtual Annual a Growth week will meetings with COVID-XX on that to throughout I'd previously calls in the investors

presentation. we begin webcast in that is note will I'd slide we again, to presentation today's like our Before today, the refer to included in

John John? I'll now over to turn the Melo. call

John Melo

morning Thank and thank for you, you Good us Peter. everyone today. joining

I'm as some to you help going turning the through you slides slides the give I'm to follow to presentation. indication the

new has since have outlook the our Kieftenbeld, review on Slide I'm share sold. we've of taken X our Han will to as And Han with are CFO, So, and Great will full our March. operational to cost today us me been financial highlights who as results, XXXX. of Chief the Alvarez, our key for performance now. then, Operating with our aboard, who today. Han. Officer, goods Welcome us you steps Eduardo reduce With year well

slide to Slide -- move please to to for me. going I'm turn X

mission been a during safe I'd of to of products keeping towards our supply and clean the commitment and we've meet COVID our while employees, Through suppliers like safe to that moment their able partners' take maintain strong and providing continuing Before chain I continue, demand. customers to everyone efforts, extraordinary elevated to crisis. for thank our our

define this help COVID pass through cure and and are with we will and therapies Our therapies hardships economy virus. that hope help the a scientific relief of bring and economic financial thoughts and for and you quickly support of to all -- health to

validated -- scale and the over sanitizer. Squalane one leading of been candidate help We're Squalane working has adjuvant We've trials world adjuvant vaccine several working scale now The through therapies the vaccine early solution be supplying COVID-XX. our of certain available units supported pharma by to XX,XXX of for vaccines. and with companies we many to first-line hard could vaccine vaccines hand by our a leading workers and are make in the

Our product aim our to portfolio a in been they These vaccines are is we're these have with play pharma and companies activities here biology who through platform helping scale play vaccines a of pandemic. them synthetic a through on to trial. and our once helping and role this difference in partner have role us to few working trial the making applying and rapidly successful

this real think really at our the its is platform and is science I where best.

being skill in vaccines. deliver scale to, could than volume and the unlimited needs a complex is of it for an and treatments in chemistry world, Our true and fast marketplace these we better global the anyone core kinds so able develop of meet

Pipette-branded need on our increase a units for X. based Slide saw healthy. and end We uptake but to keeping with the decided market. to in move them a deliver safe working on and clean, me hands over developed world the sold to and sanitizers on with frontline We healthy healthy these capacity critical sales reopen. to focused was and Let there a workers starts to sanitizer demand strong sold March, and many meet sanitizer production to keep million help our are of healthy product hard X formulations for pharmaceutical-grade as award-winning Near has on unique need meet a we seen the formula the need We Squalane alcohol of hand and consumers. not This strong on focused moisturizer. significant the very realized and the

power and to our amongst through weeks a the teams built. brand is partners production. great less the than innovation Pipette We testament two to this and first of from and platform the and have think launched collaboration products we winning technology the a We in idea baby developed

our At revenue we revenue monthly could This in by from sales note. units expect this monthly reach margin a and We are million tripled cash the significant this $XX level really and we have this a million throughout of with our cycle brands, generator June. we've production working social to level. that with rate, chain. I'll as is less that grow week shelter-in-place are every volume cash and partners they is of increase since in online. a and are about managed we've June starting supply to end a days orders our capacity to portion process ability X.X our have from capacity also produce throughput And and that than to It's warehouse sales of generate XX to product, important in this of good monthly increasing product, doubled started our to to hard with opportunity fact particular meet and consumer maintain already our we very the strong sales remind distance you due to the

our the than doubling from quarter XXXX. started more year first with We of revenue the

We both relationships disruptive revenue are from really deliver programs collaboration from which the in development our that seeing this products market. partners, Strong foundation growth long-term is sales invest of our our with partnership, strong product in to business. our our

sales brands, growth, We are growth, our earnings to costs. and which unit pleased consumer sales driven improved due year-over-year by was mix with lower

sheet and our our quarter to We throughout and year. the actively reduce to further are we progress debt the working during also simplify balance made significant improve

the started debt year We debt -- expect the with we that level year with. half half about to the of the end

Let's move on to Slide X.

the for XX% collaborations. XX% from quarter from product revenue and was Our sales

consumer experiencing XXXX. we continue We expect are has in $XX products. business our in and mix acceleration on quarter, significant what to the for million to this Based $XX experiencing potential XXXX demand of compared around in second start reach revenue and since for consumer-branded are the ingredients to believe the our we million over the

in performance around can million ingredients and in $XX revenue delivered XXXX. result $XX current for XXXX million business in for Our about revenue the

business our from working of We're from shopping have growth our especially very entered now home. where consumer with are phase ingredients pleased with most significant from and rate consumers acceleration we and consistent growth as the activity, a our

Biossance is brand, and the having are split The the year. revenue brand movement that business Pipette our other of positive an consumer well which is between fairly mix our excellent from both

in our about to For ingredient largest the year. the sales, quarter was is revenue of for be contributor revenue expected first Squalane one-third ingredient the and

revenue is about biggest our be second biggest, to for contributor that. sorry -- expected the Our year

sweetener revenue second fairly biggest year sugarcane Farnesene then contributor -- natural to Our And made the contribution contribution equal cane. following for level the from with the molecule ingredients the from with zero-calorie revenue. same and be about to rest of is of Clearwood our expected and

sense of the million A way into to full-year those or about around power where portfolio the now of have that that's we've XXXX commercialization. of in portfolio, one us. is ingredients generating and the and two Each million will scale $XX this, a $XX first ingredient you we revenue gives their generate of that built new the think for

very also products deliver estimated costs unit market. selling strong margin business has first in take and for ingredient XX% Our to business improvements full and to EBITDA the expect direct support ingredient adjusted quarter you we an the year consider when to delivered those the

About quarter a in the these cleaning. benefiting personal Each care for household skincare, in segments perfumes our are seen first XX% health, of a our business finished are buying levels. X% sephora.com in activity and in consumer of side and and are with to of clean is demand by drop current business. our ingredients The remaining month their environment. shifting from of has product The a this period. and our use COVID-XX through very sales biossance.com.br, aroma sustainable and benefiting Consumers strong April than flavors significant a business biossance.com, our direct factor consumer and business this is pipettebaby.com, during more record Xx historical of delivered online

target.com We experiencing Pipette through walmart.com. performance strong brand amazon.com, for the are sales very also and

points A hand couple not started we've the sanitizer. Amazon, Target, and of Walmart, selling there. yet In

very XXX,XXX visit then the May. of purchasing. demand to continued Amazon of we're This sales week had And quickly million four compares through, momentum Target start last with following that of X expect we stores sell of thereafter. next has our directly-owned web consumer the those so days channels our seeing Not year. in online visiting over million the sites on April including May. first alone. over $X month in We That consumers April to in for brands we again had consumers from and We in in strong or third-party very the over

been history. Let It's me Slide our X. now to the period most intense turn in

had sheltering of at We have our home. teams many

kept social business remains and distancing practices and other We implementing our are That working people critical an safety of partners. Number the our all our X priority. to ensure operations and while essential and have health

of amount doing managing while within our deliver performance for well where costs of expectations. been and We've I partners our this keeping have all a We expectations. at for huge unit our that to this our for demand a doing. and products they appreciation margins beyond is time are our each teams our able are

four lower improved unit cost chain of focus to collaborations delivering capable year, the unit positive XXXX, -- are and scientific is out flow. growth accelerated earnings on in to these and start contribute clear that gross growth that cash to expanding strong we sustained include and to commercial and of At high new profitability cash optimization brands, operating priorities an set generation. supply sheet molecules and our or four items, continues around strategic to These alignment balance a expanding execution delivering a consumer path four growth and three margin that

update who will a Eduardo out key turning us provide remarks this for Let few morning. with my close points me operations to an before

words, the First, first revenue and our revenue to more cash the have mix we improving we and into underpin part for significant business. are now revenue and a for underpin where costs while collaborations future. XX% This sustainable sustainable maintain business is lower overall our our products great a traction business product a our becoming doubled to way starting of strong a other collaboration to XX% a than portfolio. In shift delivered are quarter to flow

on portfolio as XX% deliver and the the and the do our current based mix, adjusted level in that can momentum we EBITDA year At a of business. we could mix, this the positive performance we exit sales with and the consistently

of ahead upside hard consumer to to demand during future end at us, point. the products are many the Secondly, guidance can our It's our experiencing XX% deliver are markets revenue and that for there COVID-XX very uncertainties sold this the predict crisis. are We of making it to strong this early year. believe

we than very brands from are are stronger consumer shift we strong Our experiencing demand consumer benefiting much to and expected shopping buying and a online.

body moisturizing and category-leading and shifted. hand a safe to products line hands and a point launched are have hand We time keep our the and sanitizer healthy expanding in and consumers for product body wash hand have where at

to a trust sustainable is and consumer we here are makeup Squalane. and deliver buying COVID-XX. leading have for to health expect with shifted least months away and months for and our brands and the they or skin safety this and clean world's to working are fast at healthy moisturizer vaccine shift and online from on have we next XX keeping shift the We this ingredients XX focused until Consumers beneficiaries from fashion sugarcane their of

quarter Our our a to and quarter best history. is is second in first good to consumer deliver the our very accelerating start year sales our quarter

Let Eduardo. turn to me over now

Eduardo Alvarez

John Please turn and good you, Thank to everyone. X. morning Slide

health safe healthy. employees to activities prevent our a are and all Europe, since our essential force these production we all update our North couple start their to Production to in that thank of We virus operation a our task but small the spreading. activities, for of appropriate safety X, at in our sites enact have partners Brazil, efforts. America jurisdictions. and all On from an experience Let the me and continued and started. of us we with are a COVID-XX helped slowdown business we protect launched employees March employees of procedures as in an and did Thankfully,

remained have largely activities unaffected. Our

the XXX in for XX% of product John $XX of product, the $XX corresponds the that and than revenue is During shipped quarter higher report. to revenue Han million first million the total quarter, of a will tons revenue metric revenue $XX XXXX. million first This product we which of

and continue reported in review, our we improvements. to we the process quarter technical shifting in As production locations cost see fourth Brazil and benefit to our from of lower also continued

quarter, unit cost achieved delivered. we products sorry, in first the the eight the out we -- For out five of lower of that seven

volume, cost have we margin. a unit quarters and with result, improvements a row production As five in completed in

now results. these Let some detail how of me offer and color delivered have we

scale. I Squalane talk as example. me an let in about First, improvements will use

We to XXX produced our have for another improvement. we Carolina. production metric of the tons Squalane debottleneck And quarter, continued in plant delivering first Squalane, quarter-on-quarter North

remain and and X,XXX expect will production year. around We in into that in second to the Squalane We on the of tons the metric XXXX. continue for rest scale improvements track quarter of produce

In raw one addition, for recent Squalane, seen of purchase to decrease price palladium. of XX% we the highest XX% cost have a in materials the

type we to We are continue taking necessary steps opportunities sourcing to in ensure the this benefit future. from of

been our both remain campaigns Second, on for fermentation our ran product the Remember, our we yield are also and XXXX. next are results this than new in campaigns We're is a example, of the well. that higher pure the product target. production and middle production from sweetener products our quality than for process deploying better perspective, purification three delivering productivity campaign throughput our for for cane we planned. very in a have doing times And

the have straight best and that For The spot reduction eight is market. from sugarcane tasting cup example, natural weeks. product sweetener on been from for in category the used top feedback applications, sweetener our which culinary cup baking reaffirms for the is Amazon sugar fermented consumers on for great natural product, our cooking the for

have Third, expand our to growth and sustain capabilities we our to performance. production continued

As weeks. John sanitizers hand mentioned, two we in launched the product

another our increase than these teams efforts X.X in we supply week. from tenfold unit per chain two efforts, offer operating of as new weeks. we'll million months. a XX,XXX me mentioned, Clean delivering the the Beauty a week, end month units a were what and took. Thanks first in at we some to product Right for units be few less already producing a production that just are and are Let at we our the examples extraordinary John about By XXX,XXX now, month

have for secured We two XXXX. capacity also production first products for our cannabinoid

product expand Finally, let specialty on progress our me in new four our plan Brazil.

that important in and work and vendors current to with permits delay logistics focused a and have from It detailed design lead the two-month is engineering schedule. related costs The us to equipment on is construction. Our note civil one-month specifying time. ordering long longer COVID-XX

third is quarter to additional the material rate advantages the track budget real. Brazil One as dollar We operations this we reduced time exchange our are taken point to reflect the and XXXX. costs of in early to well improvements of as optimize on have that in start to in

expense believe can As our we a result, than be capital we budget that XX% about lower originally expected.

next very am our do I rest proud for our the hopeful we thankful will great of teams, very the partners, and what for remain very from and of suppliers this year. support about

Now, call over Han? to let me Han. turn the

Han Kieftenbeld

and Eduardo morning you, Thank everyone. good

Amyris. seven of the growth that and set team forward John, saying by on generation. very looking broader at Eduardo I and to out part deliver pleased the to and to team I'm ago, I'm with Amyris's to trajectory joined start path me team here Let profitability a promising the partnering weeks be and cash

Before I I review to performance, the highlights the quarter. financial QX key financial our details would of like for note

from First, last to million $XX full-year in with quarter. debt the during reduce combination early along from actions servicing XX% cash sales improvement due by lower to full lower goods. balance our up expectations sales, quarter, year will for driven and during minus unit XX% the sales compares mostly to a part $XX favorable expectations, and million mix and reducing year-over-year year-over-year, margin by We year. QX volume with was million line second the sheet chain XXXX. for our of $XX cost. with improved XXXX. improvement XXXX by resulting improved was of and minus line sales growing Adjusted of This taken same $XX quarter consumer million actions, efficiencies supply the Gross our million. versus and in also the of significant doubled revenue XX% cost by of This growth EBITDA was XX% QX was XX% to obligations $XX a in overall These debt for

take at to look the quarter details. closer turn let's a to XX Now Slide

are We the revenue to to we sales providing our a insight serve. different somewhat into markets provide more presentation meaningful

Biossance, consumer well with and to ingredients into we and As our business our to markets. flavors fragrance aware health as as brands, Pipette strategic products, and partners our well business end with direct business our you're as Purecane wellness serve well and

broken therefore collaboration our grants. was and represents ingredients and between partnership revenue consumer Our from and latter The revenue programs. down R&D

of consumer respectively. XX% million remaining ingredients, from donut, and Consumers was the from of in from from was $XX from XX% of total grants $X collaboration and XX% of see down The grants. and will and you our ingredients, XX% sales consumer comes revenue broken revenue XXX%. million As XX% and up and ingredients collaboration comes up

notably, Slide See to and for or for of sales collaboration XX%. Consumer $XX principally mix $XX million improvement million growth was $X on the and year-over-year. in were and to year-over-year contributed was the were and analysis a or consumer million million Total $X brand. prices Biossance brands. the growth. XX%. this up X% mix grants improvement, plus quarter's XX. of $XX turning Of flat Now million ingredient Clean related revenue an our price XXX% Key plus Beauty of or a $XX of XX% volume variances. volume in was Selling year-over-year, up drivers and XX% the million sales contributed total which Most for were table

EBITDA I bridge. focus previous will on comments margin financials slides the discussed on adjusted onto gross and already on and my Slide XX. Moving revenue key here

million operationally comment all combination million of QX XXXX last sales improvement revenue, EBITDA adjusted XX% extent quarter let growth from in lower due adjusted margin was at to million expense. and $X support income, same that a of operational sales cost. lower an increase level, volume grants were so, resulting progress million offset $XX million improvement versus $XX from brands, offset expense marketing $X improvements. a our in to of diluted doing in year. represented with unit EPS were R&D These Significant partly operating a by growth the driven and consumer sold, $X adjusted net gross to by income and goods me average small improvement and for mix, in million and the principally minus consumer a of $XX improvements net made or cost Before and investments in by

for accounting million improvements metrics. stock-based of $XX per $X.XX now driven entries, was a income the Let's seen in share quarter. more income prior. excludes debt Again by by Net versus for business. closer improved the improvements a and XX these total review turn enhancement $X.XX reflection debt-related EPS to of Adjusted year the million, a million key a in Slide minus XX% we've instruments as the changes or XX% improved million share of total $XX year-over-year margin of and bridge I net for for earnings change adjusted minus which share. $X.XX key the detailed derivative $X.XX the contributing million EBITDA. adversely contributing per of to these of $XX count previously which minus to Adjusted items is $XX accounting $XX in to discussed well year-over-year, impacted improvement non-cash of the per as or compensation, share were

payment an May due Monday, amortization X $XX to important published an April with an company's an notes maturity million to of convertible was X-K actions $XX the turning further scheduled well principal Also, million simplify for the XXXX February to XXXX. outstanding debt. Form date. provide to by to X-K was as actions quarter, amount principal payments reduced by prior by the our amortization Company will in no of million. XX. X, been the notes. reported the previously reduction senior filed million. approximately of the XX, May have specific in quarter The on and $XX a the to current overall as taken the management Further $XX end reduce of Slide Now reduce as to taken be XXXX from convertible amortization payments since $XXX debt million first report XXXX amendment on principal to result the amended were XX% outstanding we This million on $XXX of announce scheduled to and In

triggers annum quarterly first on been million at X, all X% accruing changed $XX up by interest equity the from been $X payments due to of to debt million in the same quarter average $X plant last year. higher due new higher in And was were Brazil. due $X August monthly million to expense Interest a expenditures than quarter per position flavors million the in of fragrance have Net importantly, And our year. compared have capital This payment finally, mostly with removed. to investments increase and was XXXX. prior

Now outlook XX. on turning our to Slide

We we the does year-over-year do provided situation which are affirming uncertainties let the said growth out revenue point visibility. have COVID-XX full That have previously. sales guidance me current we not that present to

important revenue guidance XXXX XXXX GAAP comments items. that of sales included be versus revenue sales to non-recurring are context mind. with grow year $XXX Our $XX around should Full-year in million expected of and seen million. XX% full

on We of basis a expect sales that XXXX $XX With XX% full-year revenue XXXX in revenue approximately XXXX grow to we on include million recurring mind, $XXX an to non-recurring estimated expect million. recurring items. of

We margin to than expect sales. gross operate a rate of greater XX% at

set generative. me Let revenue our explain is journey being we out and thus right operational scale as continue to This table and in slide. our improve hand leverage regarding critical, bottom our cash sales on on this also as the our phasing EBITDA to expectation

sales skews adjusted of to XX% that to be towards represent of this turn and cash to second expect thus historically total HX positive XXXX We half earnings the operations and XX% expect growth during sales we quarter Amyris. of flow annual With EBITDA the trajectory sales. the which This in mind, and half year, from XXXX. revenue expected will for be fourth important second of

John. call over turn With John? that, back I'll to the

John Melo

Han. Thanks,

questions, XX please Slide highlight I few we open key up as to Before points. a call for the turn

have biology platform and synthetic the model. business we real our platform distinctive and portfolio of leading product We through realizing the built the are power

the gross a revenue are of positive and quarter. the margin, breakout in overall crossing consistent year improved fourth territory in EBITDA growth, in lower are We we product process operating into costs significantly

liquidity. products natural brands Beauty ingredients Consumers Han Clean for in these sustainable time of We and have be leadership we the they and of Our clean could team the and to our the mix our I through The combination are we improved need two made on to in great year more beyond. leading continue and gaining expect through we as have and aggressively from brands the operating sheet our not current consumers in of COVID-XX. provides products progress momentum shareholders in our the positioned are performance, many trust. to help of the high-margin safe better and on this support supply building us moving confidence time. to and of brands and consumer balance go improve the long-term

few points. have I'd forward. me, different asked A And so going key what's investors highlight four

EBITDA level First, now industry. can in a performance scaled a reaching adjusted strongest and fixed cover deliver portfolio that is is that our base and some our the of

ensure got to our sheet future. are balance a we a we've at fast stable deleveraging to that rate Secondly, support

the really into leadership And us with scale having now CFO for this Chief operating role business. at doing and Han an coming deep leadership includes Officer brands. Thirdly, a our Catherine and scale, are with each believe public those Operating market our on position leader, and spaces job amazing Caroline company we and and respective we brands really place as execute in and Eduardo's all as company in experience to with leading the the a components with an as both have

forward intense When with in it many eight significant of know combine go a second a continued building we to fantastic base reduction expecting of same a year. four solid through lower want be the And all being our really sustain quarter for do to what I a people the to weeks significant we uncertainties for ahead place last to and you not place you I support in all the hard towards this growth and are you and keep work are but very profitably year us, a forward. in start as safe thank to and and fixed I us. us. those are the as year had quarter really things, we movement to more we as healthy. we a We've base look great go for least, the on a cost all

turn to Christie, you us can help questions. questions? now with me Let

Operator

you. Thank Rusch first The ahead. with to we'll open And go Please questions. floor is [Operator for now Instructions] go Oppenheimer. Colin

Colin Rusch

Thanks so guys. much,

as just sure on how little and we a expected first ingredients go dynamics get And dynamics correctly, XX% we between than I as you think understand quarter this quarter. two guys Can bit I the both, you for rest of the the about consumer product about want seasonal talk the some make should second about products side? this mix actually we of through year? into on categories we because the to And sold first more through so, quarter those then, the

John Melo

Yes, then give Han, with a I've stab up you back I'll missed. what can it and

Han? Okay,

Han Kieftenbeld

Sure.

John Melo

the business actually tell at portfolio we're the on you with time you taking all to is we're ensure Look, a our that very almost Colin, the what's changing you where dramatically sense good of By for looking being I fast. way, today, had on business that board thanks a moving. you and weekly the assessing, basis, and us would and was. happening appreciate know,

bigger the you being You the saw tell business piece. the know, second piece. already go the bigger become And you now quarter, significantly ingredients if slightly consumer not consumer move we than will ingredients that will than, in piece I the equal a to, as into

will the well-balanced. for think it I be year,

$XX the for million revenue the million for meaning, ingredient about brands brand each said $XX the think million for total and $XX in I we've -- revenue.

Squalane beauty in is we've past business cosmetics clarification we've the the which the supply Beauty as industry. One used make I'll described to activity way our in Clean the included

revenue enough really, we really we say -- the revenue delivering brand is our result brand that's truly want to the illustrate ingredients. brands, really of separately and scale; brands scale actually want the are now we that it a to when from of Now

say all sales we brand, our when ingredients; when ingredients, it's channels. of it's of through all So say brand pure our we

I million well-balanced, total, in your it's revenue; the second in approach to be to think more $XXX brands shift, question answering I as for about bit a quite which we significantly year. the than the year than again product is the ingredients. about of to fairly we I start a So, do in for really quarter $XX million it Colin, each more end to expected expect significant the or the full back year expect

brands the the result progress And lot products at our of a been luck care has personal a the been having really right and go XX% the we of significant on of again, just we the do that's through go portfolio are ingredients at realize us realize on the this to in time. earnings and And great obviously, have side, we again, contribution as a margin. balance where blessing gives of then -- gross in cleaning really a very the point contributions both a in portfolio where into ingredients higher time EBITDA ingredients, cases, and brands, because the year. And a right from power with the higher do we strong

the thing and customer our brands sell paying the that consumers. about significantly before this we'll growth I products also many payment think the year inputs we're The for cost goods the the the a of online cycle. lot on thing get great is has last our is, is online happening we the cash to I'll say improved actually of a in cases, fact to make

supply meet chain where scrambling challenge we're bringing demand. on. in we that's really fast a as tell biggest on capacity you working happen and we that are all I'll deal making lot Our time spending is demand with enough this getting up additional of supply the to

you -- there is Han, would to you'd add? like anything

Han Kieftenbeld

you your of evenly in of well. about we that and the you components, relatively making spread saw up John, for consumer think points it ingredients that three looking they're covered our two category. And data benefit two quarters at the terms Nothing Colin Maybe is business.

equally growth If year-over-year. at north of XXX%, ingredient in on in the consumer side, the growth you the again, look brands, And that the actually nicely; then that was XXX%. grew first quarter XX% year-over-year was that quarter,

category, that growth but consumer sides So will; just within more accelerated the the equation you brand if on clearly, side, growth on John as saw we described. both of

Colin Rusch

guys. Perfect,

molecules. molecule the delivering molecules? to development that guys you talk those business with development; delivering about we at those the ability about already And two like this year? of collect year, what at looking delivering terms on in can just acknowledge the your Can through of you're So done you we sounds expect molecules balance

John Melo

the referenced Well, year two from last were a I right. partners, depends The but commercialization it this that up actually I on year right. really this year scaling mean delivered really perspective,

and they the question of to don't the this are two other of three for partnerships kind in ability commercially have I the relationship to scaled market the paying Delivering we that's be and I'd is, and The year. long-term on-track; and are each our with those that and our partners are describe expect year although and it about The we believers. scaled result count, to no I will So paid. us, three actually significant regarding products you $XX really about market to leaders, us, exactly quality four part those partners. question with three way ones the we're big of Colin relationship leaders love successful know, And would million the to who get said revenue take this we are towards your credit four. like and

what them which think I year growth products we I contribution think million the we're any and in we to layer then, we in is like the profile year, tell of can products manufacturer; revenue scale $XX year and this and actually the will that portfolio, plan launching the I where from to this each year, we the expect, didn't our seen them new adoption; growth products. product be. should products actually introduced two a revenue of three actually scale have kind the you then, don't that in successfully, we the market, we've start -- what to those ingredient are from again, you new expect we following that after is in those the think have generating And

that year we great four having are actually or this to and new again, about last two we're to emphasize, success that products So molecules about are that just guided, want commercial we've I we year. the scaled spoke scaling this year. That's three

We have outlook. revenue anything the our plan from don't molecules production those the don't year, have we in in this of

we revenue scale year. look into that scale as As to at them; on-track next adding and will them then about we're how guiding we we this that we year, think for and go

Colin Rusch

That's more and balance for seat a the balance your continuing of thoughts optimize helpful. then, have a for bit had flexibility I Do you chance evaluate capital Thank growth sheet; incredibly turning been appropriate Han, you're you. to and the provide that to sheet and you've are flexibility. going yourself appreciate on in on. giving you've the now to simplifying with cost that cadence And at? that company the you guys what's the the looking stability a

Han Kieftenbeld

point, why the where end Yes, are million absolutely an the the were we this highlighted to, John effort. of the as quarter, of where this be And of And an which that's at at start $XX specific we Colin. -- kind alluded is we that improvement. ongoing quarter, will

and discussing is an this so have for company; We that look already step, to what by debt further probably have towards past simplification are and is a that expected. seeing XX/XX, be year, to regarding which And made number And definitely a then, on page Monday, actions note, then of we the the this reduction to the so other of end by of the important more the reduce to X-K quarter. the and you're here. we're contemplating announcement milestone of announced end reduction in convertible one we had this an steps that further significant obviously probably further we as the

the again, started makes for objective makes want goal it at we So, $XXX lower to fashion company, in low for it's the million our overall bring a but And very been think hundreds. to that that do down around is we an -- sense to that's and this forward. year and -- because about the needs to one holders, our debt servicing clearly this important have deliberate we going sense obviously

Colin Rusch

so Thanks guys. much,

John Melo

to be it's with where support of of very going on shareholders a product we to we're seeing advantage actually those a how breaking and that not question; And wouldn't people when a bifurcation and is to product The we is supply, our -- not we There visibility to there Thanks, this fortunate we've as point; is who is been is there and through how in we're supply active make we if period can real-time, could will all time with flight we it we're are it long-term right. do again, businesses. just the had flight brands, with this want -- this been get Han. take it stronger indicating for the had who no further living are occurring seeing other think a moment seeing is chains end, place. there and a here be focus significant with think there's growth. be the to time, for in who deliver, brands over We partners, going of have we're there. or And and be reduction this not; is and in debt I discussions we're emphasize Han's those it at available, all going

place, definitely we future, into like focus what with normal, a be taking the for this to a place will new and we and retailing normal on shareholders I'm very that make really and it consumers. us -- think or I is we don't normal, industries other of back the of again, the think shit to simple. and I we're ensure taking hard We were. and clear I time, that there is not we new hard especially to think get will are to shift it be very, but in to that some our dramatic actually what storm, focus back from consumer how in behavior; are to kind across that's looks bifurcation and And the And we're end, are going benefiting predict with in be our predict long, to

Colin Rusch

much, Right. guys. Thanks so

John Melo

Colin. Thanks

Han Kieftenbeld

Thanks, Colin.

Operator

Amit to Dayal H.C. next go And Wainwright. we'll move with ahead. Please

Amit Dayal

Thank you. guys. gone see execution in turbulent morning, Good through the you've time. to Good this

talked that you $XX John, play about a any the upside the to for guidance, maintaining Is have million still on previous $XX base million call? in color you're So, us? on XXXX; for revenue

John Melo

year and we but our probably business spend you've will -- with choppy and the you for we'd to way it that, we time in be, Amit, work the thank on -- know to your love the and aligning work has always. with with Look is as the different obviously think where quarter I you phasing we on, because us probably I and -- mix got around and But you four that. by being you in will over been team with needs

of the you see why more had light Look, don't through, stuck you already is, on today could away [ph] based delivering take that the covers the our be on on XXX uncertainties is we economy I to and through, we could changing just of The if focused what it spot of like ahead, the reopening we're take see we end things track, consumer world behavior guided. as and is, to want than think message. we're every changes a much coming with then I of playing upside what what significant current the side sit Han think is the that other what is upside day, and as look we here product on, comments, dramatically in upside; that as on reason like sort further staying

We're are, we're XXX the we're [ph] now we're based from very unpredictable. the a completely we've clear that month also very is So the realizing very that track what we to indicated. upside on already where that attainable clear is happens clear

dollars. to So headed we are, track, product, upside that But is what reinforce based $XXX didn't with product, it's a and was here million we upside for on the thought be. about here current perfect I we're of think it's and way We year the on example. already prudent well in think our we delivering could stay capable a the that

things you of kind fast tells are Han, in the changing you add that? that how So, business. to want to anything

Han Kieftenbeld

add would And at the in the the end a so and at personal forth. beverage, decades clearly I'm a number spent plus be I food, little is ingredients last with markets into to industry, I two of specialty reasons color. nutrition, what Yes, and the is guided Amyris bit on of growth I of one care, call honest, context, and growth mean, say this and basis, by the opportunity. say. What is, any very of recurring it for XX% I the I I measure, XX%. tremendous kind on significant would obviously a we've these would mean, numbers year-over-year looking in are portfolio

John already we is what what any think will context percentages said, we COVID-XX, towards throughout But standard. which industry just these unprecedented And that are very in and of working achieving by the the I therefore, guide to a are on, hard we truly are do situation, year. continue so significant

Amit Dayal

for color. Thank the online channels environment? sales, digital talk that the helpful. towards are of of you fortify can And current then, are some That's seeing your in any you you this to as sales undertaking face migration you about initiatives

John Melo

social, focused stores in spend consumer. the Sephora the We're supporting Absolutely. on few to examples how have are engaging probably Live. But you aware They field had as could are influencers team content, Sephora that online, we about a providing few through sales that a third I with you live doing advice we field teams getting YouTube really work And the since the and doing And physical has March. have I us closed of to are consumers. the been Instagram all aggressively our week of and pivoted. pivoted to in a classes online examples. chat sales probably pivoted to and of, online on our give examples call rest I'll force, our stores. because mean, supported with force

time it's where is and in interesting touch. digital, I thing is a a that's the point has life point missing time the the this human gone most consumer's in really mean, a -- consumer in

consumer our world, digital let's as of where the need. human So home, digital human and they way into by what talent been focus can bring from the our in has to the a let's give work they we redeploying world bring all

got occurs imagine. especially in happens skin point the us any at dry consumer of experiencing this in house, a a you've they're what feeling, is anxiety to the that mix imagine, time, what stress inside can and you of to And could unhealthy that with home, and skin. most of Add

get to counsel, in things today. so, able places as then, them advise, And in one is making the able of last we've not done many consumer healthy, seeing looking for because not able bit with deliver supply them being but a is And the help, they're products quite a and sure keep to we're much to they're guide. chain least, as to

deliver in had our classes, answering digital, that's baby really human Instagram to on a on touch of they're Biossance and Pipette of the what by where catching that brands I really whether fulfillment through stock, on live Instagram, a through supply side So get orders brand. more people able brand, people the all our lines, we bigger and being fulfillment, several chat, more really website. our at or making when up amazon.com our and, with our on, and weeks you, part talent, education mean, I'll focused means either on or comments placed tell service teams we and own bigger Live couldn't more people redeploying doing enough wipes we're

to during So experience make this focus can had the things it's consumer positive redeploy to and time. a sure those we've give we

Amit Dayal

and maybe of think Understood, this this do sort sanitizer around, then will this short-term benefit you away? here then that stay? taper to John. have And Or you hand is business been opportunistic be a

John Melo

about it I I is happens and long guess to Hand up The sales while. is where be. that how staying What with that. you we term, short-term we for XXX%. is and think color as sanitizer what footprint definitely want see of to really don't aspect didn't I long big pretty to interesting. are behaviors data while give a of again, the expect a How

industry everybody long-term from where said, expect entering remain the required I prior because up that up, XXX%. I impact to what for I is about to available see to is the things sanitizer XXX% up And opening consumer. period. this the was have As for it are

the from Grocery country. XXX,XXX Outlet, place, folks it's whether cases, the all over we're partners the at some orders and, it's wholesale whether chains one So store dealing convenience million with across in XX,XXX, unit

started we said as even on on I in or hand about during call, a Amazon. start haven't the Amazon And sanitizer. We the selling week so

end easily just And the a My U.S. market expectation doing share long-term. about it kind we we're of U.S. obviously in We're of demand the the in supports range ramping XX% see then, we up again, market I with sanitizer in the in So our Portugal. near U.S. today, a wholesale of to volume XX,XXX have from We're units continents. launching the that that, Brazil, somewhere hand to sales we're and is production and up already to. sold online also retail in broad across

there So the the hand sitting U.K. sanitizer. market this is part is Portuguese amazing The expected European of getting longer Europe, support -- no Europe. is a in is to U.K. and business in not with constraints although

product differentiated that opportunity being where using has going moment very us point up and be quite always life. deliver, enables I their So, to at the do scale the where some as a think this time for to be to it they're in a of market consumer us a the with able and winner, to sanitizer win

sure the I sanitizer example. also is I'm as a many experience, you month. personal my mean had, use great have I didn't before of hand last

I I have enter we And I everywhere big sanitizer Han can house of and that with see long is I car, of conservative I the day. wiping solution. this just think my we I And think one be eight we house. is see business view basically part times my the about hands of how office here, I mean, have one my have think neighbors. and the again, I big I taken part my I'm remains, as a very to This kind Now, in with in to be demand, have and the seen. And about XX a that it and how stays a how guidance. one why that with year in think I in today. And how

Amit Dayal

the With you to me. potentially for current environment? the and the the refinance last an interest to debt rates, one given sheet have balance opportunity at the do levels, Maybe one debt respect Understood. lower

Han Kieftenbeld

go ahead, looking John. were we at Well, --

John Melo

yours. Han, no. No, all

You're on this.

Han Kieftenbeld

We'll at obviously opportunity be every we looking have.

the one market surely, company debt As I’ve But opening seven the weeks. we'll very some I simplifying already said We've good of comments, forward, made in of look dynamics the schedule. I been economics. of also continue some and are at comments are with think, steps the terms my made, and and It’s be see. to improving a looking clearly that we that follow-up, this and working, I the will simplifying a but That's John priority. a priority we at actively, with in

so, you expect to reduction a And a a as see and debt. service well the cost reduction, debt should in as to of simplification the

Amit Dayal

Thank color, for in appreciate Understood. guys. queue. back the you I’ll it. the all I get

John Melo

good. Very you. Thank

Operator

And next, we'll move Please to Associates. with Randy Pinnacle ahead. go Baron

Randy Baron

Good morning.

was It break the much kind was think $XX.X quarter makes you Pipette? How [indiscernible] the much to modeling. consumers? breakout a just How How was shifting the Purecane? for segment of those Along segment. in of much of I ingredients you're the lines, it's that out easier great it branded can per million certainly Biossance? for

John Melo

Biossance. Han, Very you the the were good. probably in first you will that Randy, than number of top less million. majority you you. can tell mind. Purecane and tell quarter probably $X.X that to have first that the morning good Pipette I of was I quarter

Han Kieftenbeld

correct. That is

John Melo

Yes.

I'll Pipette of the almost you in XX-XX becoming balanced. So again, and is that the month it's sales. much second and sales between tell -- April was quarter, more Biossance

Randy Baron

that part what conversation, an hand Okay. the be to are sanitizer? hand And given increasing margins sanitizer of the seems in gross then

John Melo

efficient much was chain close have this the implementing to and get as XX% ability XX% hand the we sanitizer. more now to to The approaches start supply around level, first production we

Randy Baron

comes order kind online, with if same when it's direction? others? in the of they XX% the it there biossance.com Biossance through someone versus is remember -- I directly that -- kind that the of And margins Amazon same the versus when are Is what, just orders that that pipette.com

John Melo

the margin not variable it the online of is. a It's is but is. in It demand because sale. profile sanitizer, of of big more the There that

Han Kieftenbeld

the the And other the kind thing adjacent from So the thought is online right? benefit -- about the shorter chain important days to monies cash is actually, some is consumer of And a obviously cash maybe cycle in typically from our and because whereas upon net. purchase, cycle, instances, cash working XX collect with to company that add negative much cycle. pretty to of side, we increased supply purchases the thinking kind

play. in margin well cash flow it's play as a a as all, So all

Randy Baron

that yours, follow model, it's going reiterating -- when to according since, In you’re beat. help to I the to Colin, many two also recommended on what to first Amit his -- that I quarterly And great makes tighten pulling for according of the then That want up at a callers companies you outlook mentioned. numbers think with a him to I quarterly sense. guys world you work already question are uncertainties, guidance,

be for ex-COVID, be my able we I is, would really should normal stressed. waiting question kind of while brings, to a think XXXX revenue in today in million? be it's any world $XXX that year, say And in that of what you're other prudent when would to see Coronavirus excess

John Melo

simple, Very yes.

Randy Baron

it I has -- going in May be, question jumped X-K, Excellent. your And thing that you $XX to it's of raising getting Monday. you million at by then done, planned, what kind confidence language me last on degree the my to at least One you guys regards out you elaborate that the then on Can end you that XX? mentioned Han, know around touched of have was of relates that team of Can to by the filed May. it. and whatever

Han Kieftenbeld

looking looking we do. much at the that will you continue question about just opportunistically the that before at think always I context. and And also And overall markets, same well, we're as We're -- funding needs that, we asked company. said and the look the We the funding of do previously, in a looking of can this that financing as company. was guys obviously I what think I comments. around the make for how to I at debt, the and mean, needs, arrived. the Sure, that's few

say. I that's what So would

Randy Baron

magnitude? that, it potential raise last enough to company it fourth related be of is doing, then whatever get you're is that is to that, breakeven? this going but kind of quarter the Understanding that And to Okay. the EBITDA to

Han Kieftenbeld

I evaluating, on a been needs I've what I weeks, And pursuing. that's we're we're with strategically going what board, just will we're think since and others what say on that's working has is doing. closely seven strategically -- that we're to think short again, what I've only and which That's about come team been John forward. our and the

Randy Baron

you. Thank

Operator

go Graham with And our come Capital. ahead. from final questions will Please Tanaka Tanaka

Graham Tanaka

Congratulations, welcome Han. and aboard,

Han Kieftenbeld

Thank you.

Graham Tanaka

trying how changing to understand A kind maybe I parts. lot start to to moving off is of much the wanted with of mix just online.

what second quarter, maybe percent online be and first revenues the of then your might for year? quarter the versus in So,

John Melo

us. the the Look, being the for the quarter. through Right is is you with that's all case that we're Thank again, And are another assumption of the of on of uncertainty creates now, variability. be a to Graham. making second part our going Hey, this online. lot call consumer sales

uncertain. June. tell Sephora geography, how month a How Now, restart consumers have the looking to through by at how that stores goes, the that that of I all is it will you happens been respond

really what what's the I look the behavior at and consumer think then our that see and best retail. is quarter, end the towards physical quarter, working assumption we'll now, through which where's happens we're happening online So right in everything of and is

Graham Tanaka

Okay.

John Melo

to all it's clarify. properties. way, through And When online our not like online, say the I'd by I

U.S., have quite through Three four three have properties, through Amazon, a and We Pipette through Walmart sephora.com. Brazil, we online third-party actually. material, very Biossance that assets brand. for online few And the are Biossance then Target,

our moved make online, online business not our us that online, to when the I say and just sure both completely to. want just has I partners it's So across it's

Graham Tanaka

gross for the in of versus then the margins And online terms and margins similar profitability, is third-party company online?

John Melo

highlighted obviously, and in structure online realize But more online, structure, gross Randy a company strong same kind online, sales. of actually The it's margin No. wholesale as our of we in margins, very third-party not direct the earlier. we have the

our weighted own points that growth. a shift like said, our up our for mix shift margin emphasize shifted going online the somewhere the seeing I our going XX gross probably and XX, the all online. that to XXX online. mix you're not we're around in of in online But to -- All online a to our And actually in significant as to sales. because it's brands. overall has it's basis partners’ points, Really all, not has It's realized that want XXX or XX, basis our from of

Graham Tanaka

interesting One I'm what unit try cost, which in also of doing. and wondering, that in that improvement environment, this might held your the to course if reduction cost wondering next further if you the months? was the can be Eduardo is just margins, anticipate is things you that and has other program I'm maybe quantify you've to, what really referred XX in improvement of the could cost

Eduardo Alvarez

let emphasize. me Graham,

our to expect quarter expectations I these we already additional some continue the continued And did by set and rest in we seen improvements of already have activities the what a operational sort little and noticed given expect part continue, the be on we've market of is scale around improvements, We will bit scale benefits fifth will and mentioned has improvements technical as where production, improvements. good and There we Those when are We mentioned. from have what -- have look have process capitalize on the will and have to that shifted of Han from large, already row been and we dive to of a deep where will the and those. for we I Squalane. continue this But year. improvements. and the of a

made the products mentioned, and of I we've mentioned before. John making, we’re As all

volume So we going product margin where really and a perspective. confident we are from very gross in feel

Graham Tanaka

Right.

understand, just I'm quarter is are coming to plateau reaching trying and So fourth say, you higher a already? in further Or there up? third improvement the

Eduardo Alvarez

No, it's see improvement, of into further but we baked discussed. that expectations are the going to we some already

Graham Tanaka

terrific. That’s great. Okay,

Han Kieftenbeld

too, considerations have point, think last that EBITDA phasing about the it and important mentioned the second that considered with of improvement in Graham, into side operation the the fourth on assumption of also revenue continued we're that mentioned just skew how the to important is that positive quarter. to I going be say and as but I'll emphasizing, you part year half, expectation. These Yes. John been the because of

Graham Tanaka

terrific. That’s

seem incremental products operating of be you incrementally were higher that gross you mix million on is than margins of a in improvements So rapidly, you of have Pipette of if either what you margin terms have terms it's the kind or upside say, in margin cost to improvements question, expect products, other expected? sanitizer, sweetener, or sweetener, to side, in and revenues do more This Reb or but might hand bit growing a the whether scale. if, $XX M the trickier maybe

John Melo

strong maybe and that you Let business. be we'll that continues, actually one, Look, give optimistic a me than point if on the gross guided we've on Graham. we’re consumer of happening a a where to, at is bit the biggest points cautiously momentum going margin be quite profile. we'll have swing we're couple And in key a better to what's the

the know the on this on. doing out. how in through in as side, we volume quite about produce make I we sweetener our kind to pick margin bit volume has campaigns. improved know think spot the There's sweetener track going cost year the make. I we're an think know We year of happening We ingredients goods because much way it that that. expansion cost mean, And of we And at a each think that's the of this on example. sold the to make the We're it. of we we can I'll sweetener of can could production. sweetener Eduardo's I

there know skincare our come as well for demand some result on we're Squalane. swing see through are. we do ingredients. We're that's seeing not a Squalane seeing upside because here, dramatic of a So through on we're the And of brand during come demand the some this core only sitting isn't period, volume the that. others doing We

upside is. the is is has consumer. that, mix. We've we're happen. there's a again, what product to that on -- handle And got realized and So elasticity side would the good and it the depends on say we now if with where everything the big driver I the a of happening in seeing what's know really side, here And ingredients lot

sanitizer said that, we to execute June. to the units a opportunity of up we about to run can need We've rate and of got maintain a half instance, the million really during that set and the month a earlier we For month that. get do if on production

the didn't as result other the products I is And the highlight XXX% of brand are a thing this up year. sanitizer, about Pipette inside all the

that it's So upside with. retain love all products our consumers we we're and that's can If strategy deliver in a sticky. it's we XX% that, the other the come cost portfolio of we in kind profile Consumers as maintain and production is of customer for driving quarter. it, demand the acquisition the can then a and up, visit the But the that's fourth dealing and get we EBITDA actually the have, the goods range site.

able transformed others execute, of that when a aren't we win is actually right do, now, managing so focus and is, be business have ensure fact, you where and execute, really one we that we're are executing. So me priority the what to coming execute, in be. That number we keep it on upsides the to for to to, is guidance out we we what we that and because consumer there and this careful we're want the give transparency

Graham Tanaka

Right.

then category, Pipette way, referred that a you you're which having had the in Because could this How possibly line? session killer a known also -- And new and of line I all wash you whole rather find which sudden even Now, hit. new, a this amazing big because there’s it product interesting. introduced, The brand I this or XX%, about. that a like you're expected, I is brand said almost is Pipette not quarter taking launching think body earlier was about shares is market. a talking last looks that COVID in to be, something,

estimate would products? be your for be what additional what percent of expectations -- percent what Pipette might So year, for and this sales hand sanitizer the

John Melo

came the which there, Okay, are $X here's We says a this now million. year. million And or looking and to Where new skews clean, in at market, more is or like into around more. of like product for like, perspective, sanitizer Pipette that the do for somewhere Pipette we the year north in is the and Pipette $XX thinking, all That are could it. what's product way happening from of about new was of revenue you to skews million wash, likely pipeline think the $XX now mix revenue kind the group then us. generate in the look

kind fast. gives it's happening you very of all happening So what's that very, here. of a scale And

the same I kind except in much products again, of for the of portfolio And, is year mature. would you growth give than a shift the profile And is Biossance, Biossance better seeing to base therefore, more we're also in around the Biossance just we doing expected there online. for

Graham Tanaka

That's great.

at about could think for pharmaceutical you I ingredient -- little shift, were the vaccines, usually an Because a there's possibly looking it's active explain the that carrier the about companies just Now, a whether more it. for but bit side on that that? for sorry to what you are or appreciation actually adjuvant speaking an ingredients don't

John Melo

because getting that, end I'm to this cut with I'll we'll question, and told it. then do to have Graham,

an adjuvant, used that me Squalene, mostly around vaccine So, very the as it's for people's the adjuvant flu as And elderly predominantly used vaccines turbocharger and vaccine. where is simple let in Today, a a describe in the the the flu. that's children's of about Think the it increase efficacy for world. way. could

type it in about And of way is point vaccine. to So That's of vaccine. the adjuvant the varies mind. for by a other about itself its volume keep other the in think is to it impact the that one-third

adjuvant, vaccine. you vaccines protein vaccine vaccines. and flu in can lot adjuvant for RNA molecule, one everything traditional then in happening potential to And as a RNA again, using another traditional with of one-third one-third think COVID-XX, we the And currently and from So today, think a vaccines, vaccines, to one-third vaccine. of derivative active DNA of the a alternative as there's way vitamin the to E, a a about potentials, are our

partners be not doing short with, have And to discussions or Because need into we're I'd vaccine here not play our -- development not focus a that term, vaccine. We're discovery the is disclose the few in and actually enables expertise. the much, we've a space. in we our a focus which us our in got actually expect here that's to pharmaceutical partner, of to place to pharmaceutical but and

about it the We a are scaling helps. components, one represents ingredients the of volume or a that in that increasing and the of it making hope of I the vaccine the one of and efficacy. part third critical

Graham Tanaka

two, to want has aligned you their you're one, vaccine could or involved? if work, just whoever be I going it. partners, to and three doesn't not just understand that's you're Or vaccine? or in involved with be the If

John Melo

say to point. collaborating at this health middle can is It's hard very strongly of tell Again, in we're global together. the discussions. community the I you

way on adjuvant, leading I what as going the an to to believe or trying have end think expect what understand we today is to the that up role. do, winning to if So, whether here going part It's landscape, we would needs there's vaccine, not and look we're be no at but understand leaning a to and I partners it's really is leading adjuvant, I it. hard of the then an -- playing. winning play know we're That's that would enough be we're hard say going and to adjuvant vaccine. pharmaceutical the to sit But we which vaccine is and the way

Graham Tanaka

Good Terrific. luck.

John Melo

Amyris partners In to keeping for that have to the environment closing, very much, our work happening our people really COVID-XX and been the really safe. I help time for the around safe Amyris your you our family today. forces not through Look, Thank cases. safe our to that's we across any of And fortunate Graham. tremendous healthy. ensure a We've and amount keep task everybody and to very like thank Team want everyone I'd thank of

and of family, sanitizer all of whole you wish different one weekend, want very to could the please eight to it's like the family, consumers Have at healthy. you the families units for I'd your we've if And it's seen safe hand safe if safe rest keep you'll our can to the be hand that at is able a Thanks do to good us will children, and and for that a next you sanitizer to do days, for and another a And with buy doing, a many five a which And day the good delivery. whole mothers, you experience safe capacity a we of again. buy for and day. that for and what it's expecting you from for pipettebaby.com. of leverage five rest time because get channel the Amazon, other it are in excites good be are buying like things Amazon. from that XX

Operator

conclude And conference today's that does call.

have a Thank now and day. disconnect your may you. lines, You wonderful

Amyris (AMRSQ) 8 May 202020 Q1 Earnings call transcript