AMRS - Earnings call transcript Q3 2020

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Operator

Welcome to the Amyris Third Quarter 2020 Financial Results Conference Call. This call is being webcast live on the Events page of the Investors section of Amyris' website at amyris.com. This call is the property of Amyris and any recording, reproduction, or transmission of this call without the expressed 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' website. to Officer call of like Kieftenbeld, to now Financial Chief Amyris. would turn over the Han I

You may proceed, sir.

Han Kieftenbeld

of the is Thank you, joining and adjusted limited website the Kieftenbeld, news accompanying distributed Amyris. name expense measures measures hear two. to for Executive including GAAP presentation today, today these and is are non-GAAP release Thank our everyone. Officer John our financial which respect I’m With on this that to as Han Melo, slides Eduardo Chief on the me Greg, is and us with contained operating good Officer. financial Operating today. morning, report at Chief the note for Financial Reconciliations gross available directly current the Chief comparable on President EBITDA. you also SEC's measures, revenue, or The sec.gov. Officer most Alvarez, available sales financial in X-K as of Please website on you furnished section summary underlying Please discussions will Form margin, and but investors.amyris.com. non-GAAP at not turn press well to slide is of release call, to cash, the My

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

today, over slide begin webcast amorous the well webcast we to included in John will Melo. like that of John? presentation. as following in the the be call part sections the we call. our to to of posted is Before available I'll note as website Investor Relations now presentation I'd today's on Slides will a as replay, his refer turn

John Melo

on to we’ve everyone Thank business the have and morning, joining our will the Chief thank in you, COVID-XX made overview Good share Officer, CFO a our of resilience financial start to the a our for providing will the I’ll acknowledge results. performance review our progress Han. take employees priority. midst morning, Kieftenbeld, continued global show by and and you us pandemic. sharing Eduardo like highlights This I’d business operational Han moment and strategic Operating today. that our Alvarez, to

trends learning business and at much a were accelerating operating. growth driving are and of new discovering rate. all pandemic ways also our is that now are We consumer working faster experiencing, but This already we

supply consumer markets. personal on much personal Consumers are of consumers brands much into more more is buying their example, and at needs skincare. direct-to-consumer are For brands. our also care focused beauty and sustainability, their core health and of the ingredient through This our

consumer our Our than more XX% is direct-to-consumer revenue. delivering activity of now

XX% this consumer pandemic, was Before at of revenue. the our about

downstream impacted maintaining the our in contract course, experiencing our that we all and supply Brazil key timely through Of facility to are COVID In the chains. at experienced in not factors we quarter, negatively are beneficial, third business delays challenges delivery does the ingredients for of for where key the the for revenue produce one that we to are one process finishing facility our in only our is world the our quarter. Company new of This ingredients key partners. a

We detail more cover this his of production planned have year. than this we the Eduardo have kind will are and production in for in ingredient since delivering of XX% put more section.

revenue third provided the portfolio, the our help financial this to of a revenue. framework deliver and XX% said would expectations business. During to on earnings yearly quarter, we growth our We way thinking our This is XX% about our and of guide annual performance. double potential margins we gross business your a consumer and our

As brands. year-to-date from third more revenue of the quarter, we than tripling the our consumer are

target XX%, at margin gross its for profitability quarter. our of quarter Biossance delivering is which within fourth and in is are range We first on track the

$X expect somewhere around profitability. of million million to $X We

Our expected of run to an rate fourth is annualized revenue revenue quarter at million. $XXX about consumer run

strong are track a brands Our new record. the and pipeline strong consumer business brands delivering the in continue and we to Beauty results products have of markets that expect robust we Clean

for We ingredients business. brands need We sustainable we yearly, XX% and to at would care, in and to XX% the industry-leading business that are doing clean, at and our indicated gross baby cost consumer from margin meeting the it, and grow are efficiently. that markets we scale deliver have growth this delivering XX% XX% skincare these natural

annual the the The delivering get that fourth third our of in growth. is will rate XX% our expect ingredients year-to-date to we launch addition of quarter, target growth range. our quarter in As new business ingredient

strong adjuvant, which time products these the an is natural ingredients several Our of expect Three care for this and perfumes, for Squalane and million new ethanol business and to fourth with quarter, the $XX significantly clean ingredient for CBG we ingredients, margins. is launching. use generate first shipping vaccine introduction formulated also four are as year, an year, the estimated personal the four ingredient potential expanding that into in of in what we new and have delivering with gross are consumer this

at the for $X.X our ingredient is cosmetics third EBITDA. This This and over of EBITDA a adjusted Our growing supply is a quarter for of margin delivered business XX% $X.X Squalane million in largest most of year-over-year. ingredient mature the business XX% adjusted revenue business and business. is that million

we as we said, of deals monetize We certain our simplify would also portfolio and our have from technology. parts strategic time-to-time

currently future regarding the attractive We discussions parties to of of technology determine certain and products commercial four fit partnerships best different portfolio in established components enhancing, three different strategic and for our with you are long-term end markets. and value

during based Day We As example, virtual this these to includes Investor plan protein. an detail in upcoming more December. fermentation in cover our natural

We have set are that clear priorities strategic a of our business. focusing

high brands. consumer growth First Beauty one in to Clean is invest

And that are setting personal two ingredients standard brands of We we have supplier and are beauty leading the industry. clean and for the consumers. to expectations the care

are loved delivering sourced that We the around the are products and best world. consumers performing sustainably by

surface potential in an sales of direct-to-consumer to the are We ingredient just beauty, markets. these and our both scratching

to for We quarter each partners are which aggressively and with a for expanding different introduction Biossance access respective internationally, Pipette, Chinese fourth China consumer. their best set

We are clean clean future industry believe non-sustainable consumer. sell not the the clean beauty beauty will to the ingredients the transitioning and products between only products. to choose and that and The consumer clean. have work with We to only responsible will in industry

performing our collaborative the Just clean new clean of with solidifying beauty place formation the beyond a Huntington-Whiteley. in last we Further Biossance for the be Instagram what within a partner week, to model million the and has color has markets, the beauty Rosie color our cosmetics announced segment sense a is and clean entrepreneur Rosie example, Pipette company, followers, of beauty. XX great products great brands. cosmetic should disrupt perfect over

achieve investment. to needs retailers world's baby this million. well Pipette. development XX to launch partner we have of right of Biossance are leading around time in are has in faster discussion the We current great estimated return the a a this this offering several of return the and the already Color bring million product Rosie, market. believe the an half We Pipette a total on ramp to in right to cosmetics type current of support and company market and brand. with revenue of value time around with for based years type clean product the demonstrating advanced with achieve of brand $XXX partner with the us are about like we we much We in can this four our

is example shark one of source none currently consistently we impurities semi-synthetic We We technology how hectares product. of cannabinoids mostly have technology, month the this cost An the sugarcane. for of pipeline based in synthetic the XXX,XXX through dangerous in that less a purity and from sharks we monoclonal with the takes a shark vaccines. care nutritional we same proteins squalane make includes and can one-third fastest can supplements is and provides. lowest X amount do of of adjuvants, market skin multiple less the and is our applications of to based the can We supply human It pipeline are current a biology and technology in vitamins, fermentation, billion XX of the squalane, our across sourced at Using from Through of for supplements. this product to than than antibodies. for molecule and every equivalent HMOs that to produce rare squalane animal time vaccine deliver technology our do industry, products enough and can We squalane time. biology and the process production fermentation oil. leading liver exciting synthetic of expanding cost leveraging

every at same dependent they squalane scale. figuring exactly value you out kill This from shark technology in ecosystem. any the or been The the oil. ocean the production of value don’t repeats the more not The don’t on our came sugarcane to impurities field eating sharks further what provide are what the understand year. to ocean We them, after produce and this it’s is

of in the from we the this sales of first product year first in excess quarter, generate and expect one full revenue to expect molecule. We $XX this fourth million

molecule a this only a as sell adjuvant, as supplement not to and a expect skincare for nutritional within. as We also supplement but from vaccine

make hasn’t is great to fermentation. the great in natural It example. what pandemic Eduardo is we and revenue the quarter, the The priority at. chain, and the our delivery ingredients circumstances are but strategic team to during as and impact a This witnessed third perfect third challenging. been our sustainable most Our conditions cost is are at from delivering lowest and his resilient supply

in great their Our have has time. Givaudan chain. one commented both partners, for supply this This dependable are us for meant during most partners on them performance of Farnesene and we the how and

and the suppliers companies to ingredients are world of expanding in the these each our now We of of one five we are quickly top business.

our pay Our priority invest another sheet, our new quarter financial will very we on and In our and will off eliminate and significantly year for accelerate the provide record for faster, performance. track brands which quarter process with balance quarter profitability an terms our portfolio important color assets any consumer that of other fourth the retaining on Han for on. while the of future more us our fourth cash strategic value transactions are continued earnings further in our sustainable and be along is We and progress on improve profit, and in believe expected growth review. the strategic At currently The synthetic highest words, debt is growth strategic of help us focus are to flow major to need the we growth for in potential see our robust to with simplification Amyris, our promise for long-term biology. and business. a continue delivering the in financing

continuing focused remain for our and based quickly on planet. execution adapt to mission transformation, to healthier biology and solutions deliver learned a have synthetic We

that, applying wellness synthetic health, the molecules power Eduardo our turn driving of and and Chief beauty to will Alvarez. industry-leading portfolio the biology Eduardo? Operating with call disruption I enabling platform markets. through the over market our to We And across are speed Officer,

Eduardo Alvarez

challenges good pandemic. saw COVID-XX you, quarter, selected we to robust built the up At the our the the ingredient performance provide pandemic, customers. of Thank start despite John everyone. products for for of and third In flexibility and inventories morning operational the we resilience

introduce and successfully. quarter, meet the we ingredients, leveraged for XXth During this to demand scaled natural position our we XXth the while our growing product product inventory third

John in product flavor XXth fourth the mentioned, As quarter delays that ingredient our did in some for just we last COVID-related of experience year. we natural introduced

operators three Our had by contracting site product COVID. that finished this affected

the new completed delayed experienced crucial shifted the more this equipment. also estimated pleased into volume an of ingredients I delivery factors delays in fourth campaign, report just XX% and flavor product for Both these production excelling planned, am the quality, all XX to quarter. in and we product volume XX% We by delivering and our of days that than of production produced. new

the through pleased production we commercialization to-date. to are ongoing, with of first innovation enable is performance the continue We This our scaling cannabinoid. our and XXth and ingredient, campaign

other complete cost We We we We of also excellence, employees' customers' effectively XX of putting operations satisfying and successful delivered are network ingredients cost our our focused first, -- production Squalane our ever. our quarter Squalane at leveraged continents. across our operating campaigns consecutive while lowest producing on our sites manufacturing cost three remain unit on to safety and needs. improvements third

we RebM, that we a platform. process mentioned also unit the by quarter For XX%. reduced invested quarter, second completed in In the third key RebM improvements our operations in we cost and robust consumer production

to scalable a Our and service cloud our system top brands X.X% of create brands, deployed a Pipette, platform. the consumer support resilient, also We that in consumer use in Shopify Purecane, growth new infrastructure. is integrated digital traffic more in Biossance, that and all and ERP to

of quarter came we continue. our Biossance revenue will channel. mentioned, our A As that from John third trend e-commerce anticipate XX% own

changes to will these are for fourth we well what in our we capabilities deliver quarter a be With place, record and consumer-facing poised businesses. believe

Finally, me Barra at in our commenting conclude let by Brazil. Bonita new plant on

the the competed very commission Our foundation equipment. on to the XXXX. plant long by advances in this lead construction civil we order track well. and and is And end design important We of during utility progressing work quarter, of remain the to connections site,

Our $XX this products. for of capital for remains plant margin of our favorably many expenditure will impact the future budget as million and our profile ingredients planned, plan

purpose. focused With Han? results me financial let to quarter safety in on the Our over turn detail. the call that, fourth to team with Han a fully and strong very is review more delivering

Han Kieftenbeld

from On Starting continues slide product for and larger consumer you, shift Eduardo. revenue the compared with ingredients highlights as are seeing Thank grants. eight, of financial portfolio our and revenue quarter. a to revenue, sales we both share our collaboration from

to a discussed like-for-like the further last a have under our slide, provide E, along collaboration transaction classified an Vitamin of we comparison one-off LAVVAN we with performance revenue breakdown help quarter, in and upcoming As will I also this continue you to revenue sales see year's last other. with of XXXX

business. can underlying of you more performance the see easily that So the

up, Our XX%. well revenue growth $XX from versus the for coming quarter $XX third with prior new year-over-year underlying was million total products, million demonstrating the XX% of growth, record quarter, a sequential year with

which portfolio. This our XXXX, a Also by now revenue have revenue. tripled XX% baby seen brand, a where made core of and three in approximately up consecutive We Pipette, still consumer consumer led new its quarters young mother year-over-year. was Biossance brand, care set record for

for in year-over-year. XX Quarter million margin, to Cash million was and improvements due T&E in improvement of of a related with -- marketing, For growth decrease related gross margin ingredients, brands. grew support in in from the expense consumer improved margin was and $X product $XX continued or flavors direct-to-consumer, fragrances. $XX Gross XX% ingredients in an year were down, improvement Squalane accounted versus prior e-commerce operating a million, $X $XX XX% higher part of remainder our expense revenue operating which in million R&D our platform. expense from due On by ingredients. million were versatile quarter. to versus and margin product, was supported basis, XX%. or And saw revenue, gross We was the of margin operating $X expense, strong This prior coming was $XX from sales consumer despite or XX% strong coming operated G&A in growth the improved was three expense dollars, underlying operating percentage flat a of line of a XX%. due points an with quarter, million. million improvement cash margins. On lower XX% adjusted primarily XXXX, And the continued consumer and negative million our underlying three consumer to at $XX year top to growth, share Sequential EBITDA margins quarters sales $X million through gross of growth. $X improved margins COVID-XX. million for expense. basis, reinvested to Product

of debt for lower me $X revenue sold sales net of goods million debt growth just interest collaboration down X%, revenue effective down cost put was on partly positive million XX% which from rate from it for a million million. by offset was of and We instruments. EBITDA. up or delivered year significantly, quarter $XXX was year, $XXX quarter, So, These let $XX million, positive Product a in our $X expense factors reduction. in $XXX million of function of having million, prior $XX down $X $X the of XXXX, lower of the versus number debt $X $XX was renegotiated improvement, the of a third is altogether. over of after Product a million. expense lower million currently beginning a XX% at a Interest a overall the million. million year-over-year operating reduced combined, And of $X net adjusted million at expense and

finalizing our of Lastly, QX $XX September cash XXth. certain outflows obligations. was the included and current million as and debt catch-up position cash

We also both, of products as, to scaling and support of new in ingredients his our ingredients in overview. Eduardo which referenced up CPG produce invested campaigns significantly the existing such

ingredients. QX. for made but page pattern year-to-date, improvement a EBITDA and to aforementioned again repeat improved of of grew improvement. key both comments more all and was I our just metrics Sales due year-to-date to the combination will growth rather margin financials improve gross XXX% expense the not nine. than driven underlying for QX margin which revenue; $XX represents related operating million compared financial dollars and turn discussed. XX%, also economics the make Like to mostly I similar the adjusted margin million, consumer Let's down a for strong sales few $XX revenue to performance, the as from I a shows This grew that points key slide product year-to-date basis quarter regarding by strong

XX. slide to move let's So

Reb Here R&D in our alternative revenue previously. more breakdown including Pipette details cosmetics markets. selling than M our and grants programs. are sweetener Purecane. our we for our portfolio, and are reporting business-to-business clean sales revenue Under Collaboration we report consumer fragrance end of flavor ingredients, ingredients from our Squalane and we includes showing and beauty largest and wholly-owned brands, a Inside partnership ingredient Biossance,

LAVVAN for E Vitamin again, product. one-off consumer I As category earlier growth other driven doubling with is category product the includes on strong revenue the more XXXX than the Biossance very commented call, revenue. XXXX and transaction Year-to-date the by mostly collaboration year-over-year,

Let me before make P&L hand John. clearly to I a and the of on components few to I QX drivers comments the previous pace. related the outlined off the

We is and continue product QX. expected revenue to the QX growth year-to-date the expect revenue trajectory at collaboration for into continue to

ingredients we We the revenue that ingredients new fourth line will holiday helped business QX. and season, with strong in addition a to In growth to current quarter our referenced pattern, of be John be anticipate to the sales expense first our operating by for anticipate the consumer due shopping earlier.

Lastly, discussed. to we the as transaction quarter closing John in strategic continue contemplate fourth

factors bottom the these With expected earnings line I’ll advance to help are over of John. to All turn and that, cash back call flow.

John Melo

Han. Thanks,

of and the for from the of markets driven in brands and leading brands know sustainable and health, of two clean We these leadership trust. time Our by to and need beyond. clean, safe we sustainable and continues to fast help this beauty products consumers and consumer in many brands have supply be attractive they preferences growing wellness

especially exceptional been generation Our ability that vaccine. work regards with doing we to we global provide consumer ingredients a develop beating branded COVID-XX second products to pharmaceutical market to adapt believe our quickly the needs what and the invaluable, and and are industry has to are performance supply to work work-to-scale

our process development from million fund trials. in through the are vaccine accessing We a Portugal $XX grant Phase X of to

process We The develop are payments transaction needs collaboration are and address licensing sustainable. this investing of commercialize one-time year million of covers that and clean, and combination this investment. that development products and of $XX a most partner and strategic R&D in expected our to safe pipeline consumer

and growth for please information ahead we be several in have to on our planned We our lookout Investor and everyone to event Virtual we upcoming expect business, strategic the about self-fund simplify and December. opportunities Analyst where encourage our

We this in will information coming weeks. be sharing the on more

up can open us? Greg, me you for questions. let the call Now, help

Operator

will Our Ladies now and Rusch session. gentlemen, from Instructions] Oppenheimer. first the Q&A [Operator question Colin begin we with comes

Colin Rusch

Thanks guys. so much

got it. about four questions, to You have so to forgive be try quick I’ll me, I’ve

First, impact the the in issues manufacturing can from you revenue quarter? quantify to

John Melo

Quantify -- morning. Colin, by the good way,

and are The at third $X for quarter cases manufacturing the really the are million site chain impact supply the to issues million. COVID $X delays in somewhere in

Colin Rusch

helpful. That’s Okay. All incredibly right.

the would Are for I can from an see what’s tell to four year this about application going you time? over molecules. those happen monetizing development next you or we’re what able expectation us regarding that to And mean, those secondarily, those? things molecules Second, the your modulation perspective? or monetize year be

John Melo

the strategic you’re you’re when four When -- to that transactions we articulated? four development, you referring mean the

Colin Rusch

Yes, correct.

John Melo

those molecules So immediately for these the we’re are molecules combination somewhere are when partner. will our the and actually of $XXX value payments. case, benefit them those transactions, off sale I royalty realizing transitioning those development are we of actually, not. then start actually two a about is both, existing we million. transactions selling expectation the production two In them were the of where And one or realizing think from molecules other, long-term And the and north are that the of to of partner

Colin Rusch

to something Fantastic. which… of And XXXX? those that? into seeing the drift in you Is to you quarter? close Are expecting are things going it In

John Melo

It’s it, good close It’s four we of four others. four expect before end or and to year the call the molecules question, a of and least -- the different the and different, one, then areas yes, at Colin. product

quarter. the into roll to We expect first

Colin Rusch

and then collaborations? about development about super the monetization many process? we of process, guys. early arduous Obviously, the timing there that? discussions develop move strategy a development proving those should in these out molecules, if into the be is with around How looking fairly relationship, so cadence the Could talk it IDRI helpful. think getting opportunities are That’s obviously to and long of Fantastic. things licensing you with these And might and into you testing

John Melo

is be in Yes. Look, not business our to long-term. mission the vaccine

only simple times IDRI, then looking mRNA We developing requires some much RNA that, example and specific on When a sustainable actually a based for the Moderna’s to realize is approach in platform efficacy the that critical very mRNA actually X,XXX We higher thought advantages less as platform has mRNA technology. that IDRI that working current lot RNA at We their is adjust especially with IDRI data to the buyers. on their mRNA there technology the having the of for of actually not been dealing were future A pandemics. to to are datas, could for vaccine. had quickly and specific the any added last the actually specialists be thinking. the several or platform that and then of validate whatever on response and adapt with we of they thinkers several consultants vaccine we understand of realized applied, years. insights One for are some that our pandemic, antibody in leading kind world’s can and the vaccines, but world the specific some

around that, number X that for uses to started -- when and actually, think see how that, that vaccines, world, current entire XX% assess like actually world. the one be any for the be So don’t may all generation So adjuvant, at that, to the all we that is, of see a in application? from for realize how an by the in when that of data we trial we the vaccines the in XX% to COVID is in way, of and the but rich it squalane adjuvant current perspective. platform see differentiating uses critical We at efficacy an a addition people, a good, our will platform realized lot we vaccines that looking vaccine we and we advancing because aspects we a lot -- realized is

in vaccine much the think world pandemics. the vaccine secondly, other And to that’s easier got was then we efficacy We but to like we Government in potentially very then that’s lower high that also cost potential interested vaccine this part getting we needs of found this a partners is Portuguese think fund and and around development scale, very and around vaccine COVID-XX, which So scaled. to vaccine being actually a the vaccine a started to what is. IDRI the talking Portugal, much advancing

be the to really IDRI The to agreement. what our about access one is focus getting the at indications -- this what pharmaceutical those, right that’s agreement believe then exclusive be and to the us X to the first true and which So Phase finding platform scale partner least of gives IDRI this trials drove to the through and demonstrating it world. COVID-XX we do four to us four able really is from it platform, take

that the and that’s an in logic, then So to for our demand -- our platform connects become adjuvant could dominant strategic, vaccines. very squalane drives again doing that’s platform further think that’s a back what we we’re that it around as the that vaccine mRNA and

Colin Rusch

pipeline Can adjuvant a of really That’s one last those sense you the about IDRI. incredibly the scale maturity helpful. the of conversations is then And outside opportunities? of give of and us

John Melo

near that acceptance of final them least stage, at Look, to of I’d conversations, contract end. I to product and of it year one before active the taking currently doing the start call everything no believe which five they’re two we reason expect product we won’t. would have have goes and meaning assuming well,

is used see what world a to countries need we squalane in a that So that very quick supplement many and and into especially parts developing advanced, every looking in boost the sections, actually the we’re route market, that nutrition two vitamin squalane as their nutritional daily now like, for best the of Japanese is we divided nutrition. advantage at need squalane supplement the secondly, for that of source there and to sources And takes is an kind chart that and markets. a as the markets in that South then Korean in day, replacing kids school current those believe and really

I two then then nutrition on gave just market. for skincare we very out actually on side update I and the supplement And nutritional inside market very during different the advancing XXXX. us see quickly markets, So and and adjuvant, the a see you adjuvant

Colin Rusch

much. so you Thank

John Melo

Colin. Thanks,

Operator

The next question comes Wainwright. from Amit Dayal H.C. with

Amit Dayal

Good guys. you. Thank morning,

John Melo

morning. Good

Amit Dayal

respect the all looking with these complete are John, Just quarter of transactions, fuller to by, XXXX? you to of the strategic first say,

John Melo

them, end there least be beyond rest for it but then on that now, the probability, the one year high we’re I think is at would first and right one the quarter. of before track in that, We a the lingers say of could

Amit Dayal

of could these we efforts, to next going then these expect proceeds terms million, And sheet year? could Understood. you in be sort initiatives generate from of you applying with of other into our a where and the us sense balance $XXX give

John Melo

starting with and to expect us most of in pay this very will debt in and fund deals, first way the to profitable likely be transaction the we to year. positive income done, with be net able Company light our simplified profitability the having then income close down expectation to the position fourth if quarter, is the fully these with to us quarter, net portfolio good give in positive, end get I’d the us of not the So transactions XXXX. and And cash first a turn would that our with to obviously expect

Amit Dayal

front? to something or That’s Just looking any good -- to do with our anything this hear. molecules on consumer of brands Are new we

John Melo

fourth consumer to of this the as No, of most our and are our by these cosmetics robust brands supply quarter profitable at think two our then industry, are the all. not I -- clarification, impacted businesses good and

platform to of You for two divided made from kind is based part good which that’s very is plant our of that into fermentation. one proteins platform parts, this rapidly think as market growing for a providing is access very our can

several is zero maintenance additional also some market we there of our there for, of these sell are that If the interesting that calorie now are to in platform leaders in and produce, the is, in then is super very that we kind actually industries. ingredients we’re call supply that mode. I attractive they sell, of ingredients on what good margin couple the second are world and included generate we sweetener that very the actually think end, to a molecules the this. I the for, And are other are

So, who these to ingredients. the ingredient with by and we’re very significant are in companies couple access a in world, to ingredients pay the discussions multiples attracted willing of largest these

we’re future the for pursuing and about markets. the of where in that in these either into. party partners. number One existing they’re we have are then the end two looking and with player we’re for significant end isn’t is are platform couple for actually counter or So couple not we’re no pursue -- would those it. so to those of deals in about deal who is number are one end significant that the way upside markets significant is There playing world platform A ourselves, think the those categories that we the markets at very well, we ingredients good markets a for in partners that’s access and

Amit Dayal

quarter the of XXXX you where is That’s consensus for good respect outlook, calling hear. quarter With revenues, kind to the fourth $XX to think end that in fourth is might quarter outlook, around up? million

John Melo

million $XX bigger transactions one will not the of transaction think significant where one And bigger end well range. transactions, the of with million. without is that biggest, over the be the up. we’ll of then the $XX strategic kind We That’s a

and on these that on bigger call low I end that transactions -- of would have of range we’re the upside call dealing one with we’re expecting. We some the based I’d being side

Amit Dayal

that. Thank you for

to on last that are question, litigation there one front, any meaningful updates LAVVAN are Just share? you might that the want

John Melo

working meaningful No, think our as I is have legal and everything really point advisors we no indicated. strategists update, this at have

have working what nothing meaningful system, in hopefully court are the that’s -- but we’ve really court where already the and some system, that We from said we’re November. at, we the month of will sometime And publicly. indication from again we expect through we

Amit Dayal

mean I pursuing? you should the into of of the basically, dues flow we So year, be already you going a expecting end of these developments sort around are lot that all now, mid-November of in that given

John Melo

we is making it been our of are deal expected our we flow of through more We and our Yes. the on now. transaction. eye to my off year the third portfolio than with be. quarter, we basic right I strategic take company folks with started existing action the we’ve I had we we of the And is were not that really the expect do so. managing just and big, are focus shock, with piece of a not inbound deals partners. the in you It tell beginning now was you sure we for one It critical. this more will right bit don’t than approached at while that, very activity inquiries that about a history that simplifying the we’ve was expecting optimizing operations one strategic by to can to where where is starting tell during ever the actually

Amit Dayal

Thank Understood. all I you, That’s have. John.

John Melo

Great.

Operator

conference today’s concludes over John back Melo question-and-answer for turn closing would the to any to session. This remarks. like I

John Melo

December appreciate will further Really Thank to the it. we doing everybody We What’s stay took Day, you technology. Greg. progress you our and on you joining and good be Analyst Investor you. side call. on the take I join consumer and your the and safe. future to updating happening strategic We most us be interactions on the forward support the time Wish updates. in for Amyris. the of to what for the on health appreciate that look Virtual with and where call everybody, hope you, that Thank Thank transactions. we’re time

Operator

now conference concluded. is The

your disconnect now. may You nice Have a lines day.

Amyris (AMRSQ) 5 Nov 202020 Q3 Earnings call transcript