AMRS - Earnings call transcript Q3 2021

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Operator

Welcome to the Amyris ' Third Quarter 2021 Financial Results Conference Call. This call is being webcast live on the events page of the Investors section of Amyris website at Amyris.com.

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. I would now like to turn the call over to Han Kieftenbeld, Chief Financial Officer of Amyris. ahead. go Please

Han Kieftenbeld

our will our financial will business acCompanying cash sales in Thank as are you underlying everyone. or today, revenue, and contained current limited comparable gross website. and joining on EBITDA. to today. provide results us Alvarez, of our expense, press operational the for which will margin, most Good The non-GAAP financial performance financial measures GAAP Form including Melo, you final President furnished operating me a the will John available non-GAAP John Operating on Officer, hear financial of also -- and to but and With well website, Eduardo directly to call, I is Chief available presentation is the share on with highlights, Reconciliations afternoon website. X-K Officer. for distributed the our update these Chief summary Eduardo the are as press respect on on report quarter. adjusted SEC's release this results our measures, resection not for Please measure finally and review note of the that discussions release Executive slides

a Securities for obligation contained of otherwise. XXXX update new time-to-time future detailed or and risks including Amyris disclaims as forward-looking call, current opportunities as including based future our events expectations are priorities, will anticipated information, information result well and in prospects. XX-K future Amyris' During transactions, management's beyond. due uncertainties. as about this goals full-year gross may results, to circumstances, Commission, we market materially strategic our and and make the future These and these rather with filings Exchange those outlook statements and on events, and from and in events to statements forward-looking Amyris' for XXXX any Including and other actual statements milestones, differ

today, is slides begin sections like we the John. I'll included to our that on webcast to. we The following Amyris's also of Before call. the Relations will the in posted presentation John. over slide refer call I'd now turn a be note website to will Investor

John Melo

cover afternoon, update performance, business good on the everyone. our and and Quarter XXXX X. Today, including near-term our I'll Han, our strategy Third Thanks an outlook. Slide initial outlook,

third strong our persisting into With quarter, amid our challenging very and the result, major supply expectation. another in very below are quarter. conditions. performance the in a near-term a and delays issues frustrating are strategic was third quarter, along disruptions Shipping supply nature These as delivered quarter we fourth chain chain with global and global impacting in revenue execution China, the manufacturing

nature However, for increasing and in demonstrating sequential will the quality and products. growth. we revenue demand consumer that revenue no I growth detail In record have sustainable third believe consumer short-term once and shortly. long-term we continued the issues realized underlying these growth targets record and to our speak year-over-year again these quarter, on impact more are high in

will our ingredients three annual a outsizes of revenue first the compared cumulative strong. consumer rate be our quarters XXXX. to for that year-to-date XXX%, XXXX. of last revenue underlying XX% our same was growth up quarter versus quarter consumer consumer third XX% And quarter very the versus third multiyear Our was was Also, revenue the up XXXX At year XXXX revenue. growth the year.

traditional rate at industry, the market. Care, markets Wellness is double We Beauty These personal which and believe deliberate Clean the of Beauty, Personal markets. are care been capital for viewed and become choice segment our beauty Health high-growth, will we which that leaders light. high-margin, and have are a We Clean in of growing the as

Turning Slide to X now.

our to of sharply continued grow our of very launch new strong the quarter, business and with execution The during the consumer to new brands response Our brands.

John Melo

loyalty our brands growth longer-term quarter belief conviction targets. our strengthens our to in during Customer existing the and

We Clean engage effectively our brands, in new full our aware quarter This over of strong enable have is to traction brands portfolio, our month brands demonstrating quarter to XX consumer has the included performing Further third in our amazing, X.X in by of Beauty, best said, sustainable consumer quarter, molecules categories the The a products momentum and the continue ability exceptional and the Terasana markets. the the and are than our in. consumer care months. our times growth scale in Oleca. of Inc., business sales they and last personal consumer. Clinical, in to confidence new all participate power clean, into KBN over accelerate and consumer best in growth the business hair, exceeded and late these we with deliver That at Beauty end platform us of foothold results. us launched We Rose we expanding We have brands gives the during and less that in initial strategy, have grown started quarter. develop and the investment our our fourth our that the X new our Clean expectations accelerated to

XX We expect and their Inc. than Rose months. more million XX of deliver revenue JVN to first in

generated of and adding Labs, is selling our digital, as approximately Power completed Beauty revenue e-commerce. social acquisitions, strategic Additionally, XX% we've X online influencer, and from being consumer including MGM Olika, capabilities

Our with Inc, most for online our the XX% Clean business portfolio their that margin are unique Haircare, over our our in and gross is and a Color these brands we along Cosmetics, produce respective that formulations Rose Clean manufacture. most with sales. delivering and JVN fastest-growing Terasana online has are of ingredient or one created Clean each profitable also distinctive business we with Skincare that formulated disrupting a brands of invested and Each hero sustainable categories. ingredients combination

next revenue industry-leading years. excellent gives and underlying our products few the continuing This great doubling repeat in us for the support Our demand have than purchase. confidence consumer ratings to more annual

core this for in silicons our safer this making new the sector, ingredient, the Inc, the during and better brand to the formulators. story the a to hero similar revolutionizing and silicons. We its of expect for continue at and ingredient This We care. best next exclusive quarter, invented brand are sustainability ingredient of capable delivering work. chemistry best-performing harmful relation quarter. in platform at sustainable Bio-silica Color our and truly in key leading JVN widespread the JVN formulation. as cosmetic than use years. Clean hair are for This and both use remove or lap-to-market of growth in to launched With a third also incredible key color our brand more of is few example growing or to with heavy growth category. this is with supplier at brands other a major is is we the great Cosmetics now rapidly, with and chemistry to Hemi-Squalane, us invented dirty an the new Rose a all. JVN Demand our another the for Hemi-Squalane and in We the are revenue to in is the leading ingredient better our for much formulations to silicons. is we JVN line. replacement pace hair-care connection delivering category, of this targeted planet and problem producer With body squalane along competitor our and portfolio Olaplex, partner we

the to in are a for developed is derive base have our that industrial this the industry. default applications go of used We new and process Cosmetics of Color bio-silica sugarcane from the using process in ashes in as

In performance last Squalane. with hard, than of Great ingredients feel the addition color skin, to to biology. Beauty reusing chain sustainability by Jonathan Huntington-Whiteley with Clean moisturizers residual Clean message help enables a skin and product which great Ness the paste. skin, Color incorporated doesn't as manufactured rather and synthetic twice long. Amyris. The Rosie not our and color high-performing, products, the products, on and much Squalane We the stop has formulate the cosmetic perform by there. empowered to makes the When formulated with created partners Van dry softer the promote color great bio-silica are of sustainable then on is better formulations, applications our

about than with learnings revenue accessing believe talent our thriving much is is digital data added MGM operational is challenging empty key future Power of data are for is online. about selling to portfolio conditions Live sales of digital key influencer which enabler the gross home the and labs that the and hosted I and is XX% internet talk and leadership greater mix Beauty and quarter. of now third the sessions influencer this Slide let's believe micro This MGM amazing this leader a delivering - deep better we during We believe Power engagement coupling go marketing. and key the sales our the growing to We deeper is We our We sustainable our our with expand margins XX% community to of consumer in much shopping portfolio. Direct-to-consumer currently the on quarter. tools as the equivalent with our strategically followers. to having our their right channel. are is product to conversion. by marketing, revenue brands. Empower most science influencers marketing. in directly online network X We and fastest

to on growing a demand. rely timely As shipping meet global business, customer marine we

quarter Port ingredients quarter of of costs scheduled and farnesene, for $X related causing During was to Savannah, the unloaded is like in approximately the Bottlenecks and was delays million impacted chain approximately a that impact China, increased mid-September, our the be negatively the by Squalane. until quarter, was $X producing between brands shortage which pinch the from to $X during accessing and million we are not Georgia impacted $X impacting our in consumer our third produced. to we at this, business. items our to margin by critical cargo unloaded August, critical China negatively by which business experienced a a revenue board, other our point Across gross negative $X been disruptions quarter million, estimate where materials packaging major has consumer of during and to related for another globally our the supply

As X X The in critical selling experienced products the Clean mother third periods about sales care promotional quarter. Baby out-of-stock an Pipette, our brand and during lasted in and the weeks. shortfall of fast-growing conditions top

supply taking chains on to removing manufacturing We avoid our and our on of global surprises. control are future dependency focused

our We completing will plant products prioritized expected our Reno, the the first Nevada. third margin Brazil and progress demand build our production for are start early sustainable projects and are same and completing of the shipments update on fourth in you can focused will will fourth for consumer the I in confirm nature, have the we facility for Eduardo Reno quarter in construction Brands Brazil ingredient for ensure these our XXXX this, during gross now beyond of These demand half moment. the our supply an operating chain basis in secured on a of be not production described up there very needed facilities year of chain, clean as on most Anticipating improve the increasing resilience more set ingredients the replenishment that in are by much end I the they we of issues The costs Beauty know to is X,XXX quarter. will we production global for supply us reduce about first full significantly, the manageable. challenges the impact just during industry-leading Clean of expectations. doing and well. provide in our our supply also XXXX. only and will points. are we our have quarter will the These to and quarter, and

vaccine. JV RNA me partnership for the next-generation turn Let COVID-XX now Slide to X,

As on is I've versatile. occasions, platform explained lap-to-market multiple our

market, margin to We technology adoption. focus have of the addressable verticals chosen growth speed because profile, and on certain of and

demand our the clean are are the to we first our leading great and ingredients Flavor, our a commercial is vanillin including the and made Sandalwood, supplier. testament natural from through products for sustainable model chemistry. biology fermentation, will ingredients fragrance the mostly proven such future in was It only We help business all industry be of synthetic amazing now and and vertical, world's as and where enabled

major care. some best And have personal the is our model and second brands business in the of best the sector. is delivering Beauty categories We fastest-growing in our our growth vertical. in beauty

the in we and of defeating companies a venture years, strategic sectors. cancers a a that XX-XX joint stage infectious new developing Amyris. clinical mechanisms with for our each is platform latest have built the announced Over these This with next-generation we've Company we with leading of drive established how the leading immunogenic creation of ImmunityBio, diseases. late partnerships Today, creation therapies immunotherapy commercial

with human the Dr. today. vaccine once and chain developing Executive us available next completed will durability the successfully common a the countries, We into unmet capability Soon-Shiong, in our ImmunityBio's successful are has next best-performing and in are manufacturing with objective vaccines upon into trials Africa. to lowest the completion, year vaccine trials vision I invested to ImmunityBio human next-generation South ImmunityBio Chairman, of all. of access vertical the our through complete provides biopharma. needs in billion the quickly to deliver RNA challenges that significantly cold X share and Partnering JV, and capacity cost, addressing Patrick be doses make RNA world to with manufacturing and the move facing developing 's COVID-XX very world-leading vaccine DNA excited the based for expansion production responsible to

have produce as a billion to XXXX, starting parties. and structured will in manufacturing facilities, can't ImmunityBio's JV ready investment first Company quarter. over capital We is early as confirm they visited for doses to both minimize The be the

We Amyris adjuvant capacity has and will excellent of specifically for each is doses billions have. manufacturing has squealing Immunity leveraging for already advanced what trial contributing supply assets clinical technology our we COVID-XX. the for and RNA capability. of be

our are distract We of And South with and The a discussions management scale business. own be from from several the separate us will operated Portugal, its U.S. with completion JP not to as to core active successful Africa. human the with quickly governments can entity trials, distribution. Brazil, in

hand I yea XXXX. Eduardo, comments let this rest to me a make of and the about few outlook off Before for the

partners, footprint the could of number leading in the delivered clean from of and We The tons Ingredients have to world. are industrial thousands be reducing at in of that scaled, individual built derivatives, many farnesene synthetic path platform ways. biology just industries. waste This carbon molecules scale in measured products fermentation, produced different many not of produced the

assets, underlying by the revenue brands have to XXXX. the of We expertise, $X billion growing end of deliver pipeline,

brands frustrated stronger are of demand consumer our by and experiencing chains. We are supply for global challenges than expected the short-term super

work these We will issues. through quickly

and expect revenue. $XXX year million end in between We the to $XXX million

outlook are prudence. our We of changing out

inventory that to adjusting on are have We we hand.

for significant components to We we if more have are potential the upside ingredients. and able access

impacting We are revenue doing factors our ship but are to material, and possible everything directly these external margins.

$XXX exceed to revenue expect we XXXX, For million.

with This we've of recurring indicated guidance doubling XXXX. expected annually. been previously providing $X an for have We revenue revenue a billion performance consistent is the

XX growth Our Most strong and XXXX from legacy of Rose million consists such and $XX planned on around purchasing in have $XXX are revenue the our launched which as performance accelerating million quarter. brands from fourth JVN in Pipette, brands. Biossance very delivering in that of million are from this XXXX. and we into both XXXX and of this brands Inc. from launch

collaboration new of we which and and in. million how $XXX We in technology confidence This underpin and payments have of assets XXXX of ingredient 'XX purchasing earn-out $XXX X are million of a have $XXX from sales. strong over for brands is pipeline the lot side million portfolio. -- in of revenue, we And a then the the middle over

delivered consumer this to revenue of global in expect deliver be We and gross over XX% XX% revenue expect EBITDA from business to million to during that for by consumer profitable times XXXX. and $XX during the business margin of $XXX range We've XXXX X.X the deliver grown a pandemic XXXX. positive our to in million

focused keeping keep products. for been in are on And have consumer up investing supply and this up our down We we without with this not able growth our and demand chain back-office. slowing to really

our a a the pleased and proof business planet. that recurring underlying our This best growth revenue. to the is in the component are We biology synthetic very critical is truly demand in with healthier

new is We are Eduardo. and on clean operational what world resilience projects path in. our will update cover the that that are the throughout to is now. an chemistry demanding only and for natural performance sustainable Eduardo provide consume added sustainable, and capacity now our

Eduardo Alvarez

John. you, Thank

and our consumer during are our I'm reviewing leading the describe for production addition we for strategic our record to In results, In results portfolio. our was similar for fragrance to production making production achieved the Third all that both and achieved stretch delivering investments We ingredients, operational production for and capabilities Quarters. Quarter we business, flavors XX% improvements targets product, in performance the going ingredients our in than we campaign. produce Third fragrance higher our Ingredients

Our continue on sold our captured comments I we due Despite and best John's teams them. best, scale are the for a ingredients, John raw we natural, shortfalls, few want of as these also chain add ingredients all ingredients. to those demand in delivering continue production ingredient on to as all performance to shortages the consumers the shortfalls supply materials. sustainable Expanding only to comments.

pushed were represented fact, way, fourth in about now the which in membranes, purification the had another --by the to is quarter. By to half that production revenue [Indiscernible] million pushed running right of delivery that the In delays campaign we This ingredients next smoothly. missed out very quarter. $X

strong We as adjutants. position for progress Squalane for are vaccine making an pharma, with ingredient sustainable

Our already achieved Squalane scale purity Industry-leading levels XX.X%. production of up over

Our that derived the scalable natural potential has as replace be world fermentation-based a Squalane from transformational supply shark. vaccine to adjuvants platform can the needs

As under production up conditions. agreement off to operating long-term a scale are pharma our Squalane we finalizing production GMP result,

demonstrate processing streams market sugarcane electrical fibers interest Another sugarcane on many to we customers XXX the in sampled bio-silic and our the capturing tremendous our cultivating pipeline. Commercially, have more with over waste economy. from circular new from value of have ashes. our plant. to commitment the received full is ingredient, fermentation product bio-silic, of our which project a sustainable This generate waste energy by produced is burning This

Brazil. at an me new a update fermentation also Barra provide in plant regarding Bonita Let

especially steel. related have sourcing materials, Although of certain difficulties the encountered construction to we

items lead delivery key hard this are at All and in plant part in keep in We and weeks our production XXXX. also, XXXX. schedule. target the on long will remain to already next of the the on few in very equipment be early have We tower delivered fermentation the installed start of fermenters all first the worked

important our to products We're third during future XX brands consumer on our growth. successfully our production quarters, chain at four produced, new Looking supply to delivered formulated, launched capabilities we making the team products time. and underpin new our and and changes

a This compounding, packaging and across we and mentioned, John This support meet production the facility our growth a facility to designed accommodate expectations for is bring facility filling our in As large full, brands Nevada. manufacturing in-house. capabilities of leased new to needs Reno are lines is to to sq years. enough building capability have ft we brands our scale-up X next and product XXX,XXX the

to production the scalability We building. facility XXXX. lower are are a simpler will for unit targeting supplement our and of half These model, of a excellence foundational be brand much first capability this and marketing, formulation, resilient production crucial faster new in advantages The costs. plant

by on three for close the that me concluding Let priorities have rest year. of the this we

continue plants new construction of must Barra we and progress in the Bonita on Reno. First,

consumer approach deck first-quarter hands to end of production. on the deliver season, the best ramp business an and to our for Second, all is holiday up year

review new and Pipette, the quarter production we track John on turn for results. expect With in will Han. must do RNA to the call the reporting to XXXX, inventory for that, X,XXX Han also financial our deliver fourth vaccine clinical of that doors the example, For that. opening of monitoring progress trials I quarter the mentioned. first And our are finally, the on we to in and over

Han Kieftenbeld

impacted for another growth both recorded we've X. turn the intact. underlying our revenue, and of to quarter, revenue during we sales Please remains slide record which quarter our Eduardo. factors brands. Thanks trajectories on consumer revenue an basis discussed the Despite And

have $XXX and at $XXX address XX reduced to continue of capital compares made million past debt and million start legacy the at This to tremendous the the equity this balance $XXX our year. progress million. side debt, on also and both of of months further We to position structure systemically the over We XXXX a start sheet. our the

year, below $XXX of and guided this. We to sight of we clear the debt to million for end consistently have be by this have line calendar achieving

the year-ago outstanding side, $XX have the base nearly with remained, addressed million Also, which On investors at diversify to compares we the XX we equity long only QX at have last our versus warrants institutional continued shareholder expansion of XXXX. the quarter. compared a end year. X the to the was which of $XXX quarter end this time to million million the million of of Cash fully

over During the we above $XXX cash a average of had quarter, million. use around

stores rapidly transactions. compared to readiness $XX with million XX% revenue million. our million, year In increased QX the to the was year revenue quarter record Brazil the and supply million revenue to increasing XXXX approximately M&A. $X that. of $XX consumer driven $XX Product of associated which million XX% of with product capital addition last cash business, of $XX million by million with compared construction in of working revenue $XX our quarter season, third XXX% $XXX $XX of $XX of the to is ongoing of needs launches Total increase. end $XXX various which uses brand full-motion with to the during resulting costs growing and period. included an proceeds million the transactions, plant, included a holiday in of million or of now product be compared in Total Total for in through R&D and increase to expansion found UK in of Product revenue increased the consumer stores and XXX $XXX different XX babies, XX% found of XXX X got Biossance compared Canada families. a months now NK clean the launched be hosted and in new previously year, and increased on JVN to by to continued launch the and U.S. the also XX% to for a this accessibility XX improve Space across past $XX mothers, was or $XXX XX% And retailer the new other also million Inc. services first which sum of of Rose first year-to-date a inventory market a of from of a strategic million deliver million Also, underlying versus revenue Total months continued collaboration associated X commented, improved and in revenue, and million, million sales. quarter. year prior driven equated last Pipette and to international revenue million including products investments of in during worldwide. revenue new other a the chain commitment of it the into in can ensure events associated $XX quarter. chains XX% XXXX. as can in its number

other revenue Third during for quarter revenue through among due volume due the cost Demand strong supply would. quarter to and ingredient ingredients plant we cost this supply impact the Bonita call. Squalane from gross decreased to critical discussed sales, Non-GAAP prior in sourcing in versus our growth skincare and Barra XX million volume. QX end early down quarter. challenges of margin XXXX. forward million We previously from was of percent in or grew XX% revenue others, more increases. primarily revenue become of increase Margin to specialty and QX of as production year described previously the High of sales a shipping ambitious coming of XXXX surpassed to only capacity primarily that chain drivers as XXXX the on to XX chain will and the of airfreight, online and have for used look continues products demand challenges total our remained our targets. meeting XX%

per portfolio $X prior longer million the million $X product consumer for well new comparative factor driven value of compared expense was increased or no mark-to-market by $XX changes is minus fair debt invested $XX compared million as on last a loss million loss as significantly or to headcount million of approximately $X.XX to loss operating net share in the or $XX an sales, due $XX the non-cash of primarily and decreased year. net and adjusted of to $XX brand in net the expense. of share XXXX launches. mix of share quarter. to year-over-year, DSM influenced derivatives. $X.XX a per due of having to by share compared adjustments QX following $XX operating $X.XX Lastly, $XX and GAAP related EBITDA quarter higher Cash XXXX. was Adjusted the value fulfillment million share $X.XX a increased in adjusted net million shipping transaction, which per GAAP in XX% to QX $XX of million per by FNF loss million year in $X million We million of or the partly loss ingredients or

by months a XX% in X increase Let period. $XX $XXX prior to in months XXX% improved the improved XX% or revenue of year-to-date revenue months. year-to-date. margin first compared in million proceeds million compared from XX% million or million of of of XXXX. $XX million of increased make XX% non-GAAP consumer of revenue to Total $XXX few driven total X strategic XXXX, comments revenue transactions. or gross to million $XX the me $XXX sales. the regarding of million XX% $XX or of year versus Underlying first the included then That first from revenue XXX $XXX million X increased And product revenue

the revenue to compared transactions year-over-year million million to minus improved million Adjusted growth. the from first the margin from the margin of gross Excluding grew contribution $XX million of $XX to strategic and due growth strategic proceeds XXXX, $XX $XX X of consumer transaction. primarily and months EBITDA due related

the plant, million also convertible our me institutionalizing. note as is we we Now, well growth. shareholder announced as results, as third comments XX continuation projects a such announcing offering. $XXX the our debt, Barra slide after diversifying of have natural financial base, accelerating that costly strategic quarter months legacy funding to XX. let offering rapidly funding capital our process Shortly This turn of and and retiring Bonita of Ingredients an

and these capital our will to structure With future excited for call steps, back well us set are strategic believe will over regarding up turn and operationally John. about success. We the I both the continued that,

John Melo

portfolio in advantaged believe goals, well-positioned We an and estimated Han. operational billion is winning $X you, ambitious our set and financial during XXXX. we and model that revenue achieve Thank to business

high expanded portfolio to Given revenue brands. expectation we portfolio is XX% to chosen total end grow revenue growth consumer XXXX. to manufactured. a markets from actively and of scaled our was the $X.X molecules of continue our we expect Targeted expected of by to the XXXX with consumer being a for Meanwhile, to from about $X.X consumer XX further the in total Ingredients towards shift XX% and of business have the total billion to also being serve, XXXX billion family

in significant technology our the growth We leading momentum. and business industry, a model, have platform proven

Now is strategy manufacturing now last in growth, fund our structure and time footprint. the eliminate fully expenses, capitalize for for the the debt, right step our moment execute also to is business capital to really legacy our

Over few products delicate and go the dedication impact proud you. let's for Andrea, now observed of environment. impact we commitment how of the world Thank I'm questions, and to that all minimal of our the their the to our balance to first-hand the years, available to creating, is, last and with that us producing, have really making people Amyris all world please.

Operator

We question-and-answer begin session. the will now [Operator Instructions].

Instructions]. question withdraw To To pick handset via please key. speakerphone, question,. your the a before [Operator using submit pressing your you're up webcast, the [Operator a Instructions]. If

to And first Oppenheimer. We Rusch Colin of this momentarily yourself time, one We come Please ask our assemble go pause your limit you of please begin with one to and will At question our will will questions that question phone. ahead. from we roster. follow-up.

Colin Rusch

just when the Thanks sense of give Can us timing of out? so completion the trials we with a guys. results and for come ImmunityBio, can those see much, you

John Melo

the early by call. then good results first final year, quarter. the end We're Colin, in early you results expecting probably year, to Hey the have on the of early and

Colin Rusch

Okay. guess are all you then Perfect. on their of next deliveries? early world the next part CapEx in confident are their location just waiting with now in terms what are of timing? for And arrive first how elements those year, coming where having things time I you terms elements And are that in guys on right the year? of and those those

John Melo

hopefully the December. beginning to We them arrive actually need by of

example we growth of that the is on hard I we is will mostly for of X you with things the as for we're silly a of what One great is expect is, that examples example caps I that one China. And Those that's causes from we experiencing material issues pull need significant of perfect on you to of of know most different much consumer we're pumps. forward on appreciate right critical things components an raw the as pretty say material, business, the water. and I now would level tell raw having business consumer and of can. that when kind I are but give to our bottles actually us, the a are

time we'd on our year that anything based So ship and everything prudence can get Eduardo, the what the want expectations year that to abundance unloaded the right But thought to what can big the expect for to issue add hand have seeing is ports finish we ships make of manufacturing, we and we and we to we year with, be all by we're to be unloaded for nearer of fine. be hopefully with the to able I believe cleared? realigned so off in did just that? begin for on end We get hope sure you we get it if Colin, we'll components we'll and the our where on helps wanted now we the can we

Eduardo Alvarez

it think already produced I already in well, the capture well, products either include saw numbers that you the centers. that's your very or really distribution

Colin Rusch

will then. it I take guys. much, so thanks offline Okay,

John Melo

Thanks, Colin.

Operator

comes from Raul go James. Fargaraslin Please Raymond question next ahead. Our of

Raul Fargaraslin

so Good again. to being with the on speak a first I our good congratulations guess to John, question with afternoon. market. Eduardo. products and taking CBG first you my John it's Company for questions much Han, is, Thanks

really that on call form would you cannabinoids products cannabinoids. beauty you the didn't factors and give too would the much So on so cover a next an update you little any bit around of new the -- even CBG

John Melo

year And Sure, from thing happy revenue this multi-millions already to that. booked first is do we've the CBG. tell of I'll you

tell the combination consumer and is related Squalane very CBG muscle those and potential. and on feedback I at obviously, of can pains, is we're major surprising, you cramping going the especially and lot good tell away, formulation mean, pains, its very, That the formulating cramping CBG a Right and things. we're bruising our pains, sports-related a What somewhat to away. that we're the COVID muscle of bone muscle inflammations. tremendous that So and and other going seeing other skin for impact finding you I like overnight a muscle we're acne and pains, bones, is now, product I excited conditions. off from will product achy for about targeted start

clinical at I getting Terasana to that that based do I'd look the as good purchase spades well into and we're at a efficacy brand I categories, the quite think So targeted that, launching repeat great well. process an how we're seeing we're we're those ratings see growth very and a to and seeing And always we brand's potential. our sign back. to next continue in the into the from the going and around of And getting data consumer expect brand we're see in of expect application bit how again, of consumer that, quarter year. future fourth on

So where those are moving CBG. examples X of are really we aggressively

is other end XXXX. to in now, to have evolved the discovery second we now anybody We where portfolio, we've and provide major technology. by and I'd cannabinoids gene else of the the thing inside have the out limitations breakthroughs how our expect had third confidence no other the in likely market And to in say minor and that we've pathway in IP use the some us are we I'd relative great several

anybody's for got a less ensuring. cannabinoids if mean, anyone of months and to think very pathway that's goods or don't expect six a the quarters $XXX $X,XXX, scale anywhere and on important focused market. now that IP for less but I be have be really of cost and to minor able We've kilo best power CBG, minor market. us engineer that's So to an scale about quickly I'd and only or under quickly able also the platform we minor to really now say to clear a point market near we're thing and other really cannabinoids, CBG, is excited couple next at to gives we'll we're pretty over we being the take what scale cannabinoids as for different applications able miraculous. about and production that I cost we also of not in

Raul Fargaraslin

appreciate good really that. I that's color. Indeed,

just fermentation So question quick pivoting follow-up capacity. a towards and

see You capacity you refer proprietary between and you setting to Are fermentation your you balance the being capacity? do CMO. bottlenecks balance and seeing out there strategy how fermentation facilities versus avenues up fermentation How in constructed. PR strategic the new are around

John Melo

greater Look, It our as observation efficient. cost. it starts contamination much higher is it's with has that fermentation and risk not significantly of capacity third-party

for the really us simple. So priority is

we we Brazil. our fast as proprietary everything as move manufacturing Let's to can in can

you -- been manufacturing and our for facility costly. from as of are production. to a us give it's as in our We've really Spanish great strains Spanish of way, as sense, lot actually efficient. is proprietary costly cases The is in much It we've facility skids major cost not of half goods facility in processing keeping CBG good Just facility and downstream a least we a -- But a not a a the us volume. the and The producing our customize is that system is is example. in is Leon. priority. at third-party, our a our right? taken feedstock is and it and So some as CBG want the processes what doing at third, that's We've for not

do we operating, as in in the expect will gets producing and be have approval soon to be Eduardo early So Brazil and which XXXX. plant up CBG as

the of basis why will margin or to a to margin. we're about fermentation, add with out very points our it excited XXXX a points about overall that, there gross XXXX by basis all Brazil overall So our that which of is improve put our gross I move for

tanks, doesn't us. a our to in we to of to cost about So Scaling then it's have or very It's small the you can or at have Eduardo, we how efficiency which look of a machine not and operate something bigger in it. do that, put for we like SOPs we're we really able matter a resiliently, has is what would simple how and Eduardo really add people working great that, been excited that? we do what a third-party but all do But being we in we and on. actually matter how that. do for is to not? We that's matter third-party, third-party

Eduardo Alvarez

lot plan the access that I us think alluded also just build on we of of single not a risks because in would some I quarter. can that the to in our raw a [Indiscernible] have Yeah. resilience the site say do that third Bonita the and start ingredients in material to the to scale of for Barra X always the just discussion gives Raul, fact things John to and processing around deliveries

the XX% that that remembering on is just needs to sized I the ingredients are all is natural years, manufacture. CAGR say next than that this of we to we've for The Brazil, meet those we seeing our Barra would to second and for point XX% facility that more Bonita, X like to X

Raul Fargaraslin

get in Great. us questions the John, including Eduardo, the queue. thanks in today so much back for will

Eduardo Alvarez

you. Thank

John Melo

Thanks, Raul.

Operator

Jefferies. go next of Please Laurence Our from Alexander question comes ahead.

Laurence Alexander

the the priority Good some it happen? you the about think X of we pulse evening. if odds do molecule see for you further or demand initial How us gave is, I of magnitude the pull guess on or That were a comments is, that XXXX-XXXX? much monetization first bridge as to for how kind potential XXXX. what should you of is in

John Melo

now working you. Novvi I background. have that, call. good we the which partially talked industrial tell to Not example owned. it's Look, will is Company, our about I not very has a lubricants good been Laurence, but -- the but in something on we're I doing mean, you proactively well much, Hey,

somewhere term. moves a there. that XX% of come back owned to made by for on you core and and can that think And between is I tell the way of to I lubricants Chevron that technology. I some the has XX% It's opportunities potential monetize our expect potential us to would not Chevron. us And long

polymer that derivatives have farnesene in into application at the of surprised the very some demand specially industrial has for are industry. our been other much accelerated the think I tire how the we farnesene side

and molecules, say derivatives on may would but is not our around especially accelerating markets. all, where revenue built $XXX demand I none want farnesene to also that, just We be for XXXX. specialty the unique likely pathways, derivatives of are are that in for our core million there unique I at interesting nor that So to ingredients, clarify opportunistic very industrial into that

So it be will opportunistic.

Laurence Alexander

rate SG&A the was should forward, we think in about how run going it And QX? given where

John Melo

of that a the QX lot a both of of million costs message lot activity, to there main onboarding, $XX $X in for probably a to the costs is of the cost range in chain, were lot just of M&A Look, supply related there's think that are one-times I different there onetime. in

looking to at would you is look that the put very expect continue there, on forward, like else look to out more that that? as million we something $XX Han, carefully grow. have number we when cost we mean, I around I what there a you'd steady range are So we leverage and versus to ensure base

Han Kieftenbeld

think I that's No, spot on.

of and terms items ongoing I effort setting more into launching between mentioned just up brands and and takes in the the the nature, one-off John new obviously think in bifurcation the investments. also I initial think

put the a we particularly the shipping And and capitalize it what say is variable consumer to past fulfillment there's is we've this out business, lastly, because talked in would captured as in don't we expense. component the that, then growth the actually and about and I selling. there an we, So of expense

But in I of would the And continues support, where proportionate consumer so be to terms grow, that piece put that that's it. number orders somewhat and business to of that. as activity, will

Laurence Alexander

may, I And if then enzyme. one just lastly on one just quick

opportunity for people sounds revenue who it -- of are characterize is broad freedom license you can markets? -- enzyme And if of pretty as enzymes. have there if kind in a to you a conventional Given in more action so,

John Melo

and We Laurence. for of monetization facilitate the It's our target mainly very the talk inside our of our are discovery We used needs we're very especially have we platform our discovery now see one for currently engine targets, it in of biopharma, somatic to that question, see proteins think our and enzyme be interesting, molecules. really of Biopharma. much needs, we because tell probably producing most about could platform. looking at advanced interesting right? we enzymes in discovery for there. as we've enzymes start actually We own ImmunityBiob development in enzyme the platform. relationship and way work exploring in there that machines explore some in both or I'll portion to needs our great some with Another where do do We our don't you of their we to as about it of a could pathway for our

So Biopharma the exploring. answer currently focused targets is yes, targeted and that specific we're very some on

Laurence Alexander

Thank you.

Operator

ahead. Cowen. Dan Brennan from Please comes question go of Next

Kyle

X Dan. these for my then together Good afternoon. questions for jump on taking I'll back and here. put the queue. Kyle This you Hi. is in Thank

just the in bit a consumer So wanted quarter -- on for to little about in revenue. performance guidance talk the I just

have etc. our wide guide you miss collaborations, on there's the weaker QX to $XXX expectations, revenue, you. just range. revenue And you to million in magnitude Thank supply -- total pretty year was expected dominated grants may of consumer provide is the and to by missed a lower detail is than point for to if bridge second by in wondering full $XXX been to [Indiscernible] to -- the this revenue, the or any ingredients there relative the updated Is that So underlying my guided the business good consumer here can in revenue, of which than margin then issues? anything most question, I by chain fairly

John Melo

You bet, Kyle.

the take take the maybe and part second the bridge I'll to first on Han the can part guidance. So

China the part brands quarter that weeks during brands, supply in But limit the other think China. Chinese started third selling off part, all become think material just problem On the point, through most and had only Kyle to starting power I was I of componentry the to quarter. first operation new many the the really a the factories is of the shut a few specifically look And the of this from componentry. across as issues chain

I can So we're sold weekly those connect we to expected for basis. would than tell weeks tell that those everyone. by you X, be the X I we are to November, year's a November, And Biossance a have think So performing expectations quarter well. well confirm momentum, the last we making. can maintain can very and month on like in expected, off also it. great more right they we've our if for the the of And base you, I fourth we XX a if can that that that the is extremely right? you you is into than start getting doing we better prudent much well now I and over I in thing brands revenue one wanted think done place dots, generated just quarter month that

So fourth us maybe that quarter. takes connect we for dots to actually Han, and how the the

Han Kieftenbeld

Really as to consumer, to and just think to bit, already certainly upon a it little dynamics but about, relates John put touched together. X it in

the brands, element. so So on you quarter-to-quarter, sequential continuous seen that that's have so one we've growth obviously

the John week end these performing. back new one have the full the just and brand, quarter at other will of we new alluded kind now as addition had a of The QX we some brands of a is

the that fact break, at brands QX, season if uptake ahead a really see And and so significant historically piece we of holiday the to then we that's at season of will. our look holiday And end because you your QX us. second activity X you performance last third level at had second, year -- and that look you season. the is if the when holiday of the of So you have the

to that repeat, gives deliver QX then that be able put that come -- ones holiday us into season, we've new the that ongoing, range. confidence us that and again, to on growth, So guidance dynamics, us in. where gives X should And sequential that getting

John Melo

about $XX in solid for million Kyle, can built quarter, the us somewhere that's to the to is deliver it. whether think do to $XX million -- you of we XX are the stock? in again, rest about hard a pretty And on-hand we're your than some we in, the everybody XX then more currently range, to that of there, million sense being think hope benefit of and the Quarter-on-quarter about get -- It to range, else's gives really inventory call about on Think which And consistent. I but to in you million that ingredients $XX that your quarter. consumer I most for for million gets think collaborations and And the and really fourth on. million think a here's the out and $XX way kind depends additional magnitude on, working the where that, are fourth and buckets that

Kyle

you much. Thank so great. That's

Operator

Peterson Our comes of Tycho ahead. Morgan. question next Please JP from go

Rachelle

launched give or just they chain four that you into guys that on Tycho. Rachelle is led on any the for expected. launched factors us you brands there color later you driven more that for some Brands, Can of theme Hi. delay? taking Kyle's This Sticking Was that? only to supply quarter, with than Thanks question. what to mentioned were other the that Consumer diving the to led you this new really

John Melo

chain. supply Completely

the of those they're retail So product having to supply driven purely skews fact, matter and brands And not up in right we we out a quantities. had chain having right? the get really fill As wanted ended able we orders we stores, the to not all be all were that to by in able ready-to-go. ready-to-go

Rachelle

on about Pipette million and year. then And towards consumer legacy brands helpful. next you've the that's Great, got $XXX to Biossance

you So brands especially headwinds? through these do those next about what brands ramp those for in do XXXX, legacy then you to expect chain the recent year? your confidence in can And supply given legacy talk

John Melo

somewhere expect I do second part, XXX range Rachelle, And brands the year? the next then Look, legacy to between for XXXX. regarding

Rachelle

confidence for Yeah brands ramping just can year. million year $XXX you $XXX those the specifically from your next talk this to about legacy

John Melo

Yeah.

a now slightly look if Biossance what's actually than Biossance, current number last With fourth think a little current is the I double we're than bit performance. it if And growth. driving growth, quite is I quarter, the at majority guiding more we growing year's at guide the something about of to that. softer is than less just right to that

million, a to a the and of about run-rate to and gets a very give run current million trajectory If Pipette comfortably how way us you to we want on north for on based current between think normal connect [Indiscernible]. $XXX bit just Biossance rate that about being and you dots, softer Biossance, is $XXX guide,

Rachelle

you. Thank Great.

Operator

comes H.C. question from next go Amit Our Wainwright. ahead. Dayal Please of

Amit Dayal

about in Good the for everyone. terms is Maybe afternoon, should Thank this think the fourth for margin outlook of what quarter? you. Han, we

Han Kieftenbeld

Hey, Amid, thanks for joining.

think I made think then dues bit critical of that big seeing, facility. been the is emphasize I a between if having you about and detail variability are to look, project comments ingredients, you Eduardo Hence, pieces, similar very we've it, that explained ingredients of in think margin us one -- the that a because what now economically getting in too right us, some all the facility. to we've being disadvantaged a just more about emphasis, not it's more So right? integrated two quarter John profile and other bifurcate one consume the being we last if that

always the range. of the that the with some being XX% higher-end in even as that at you side, the is know, of our sits revenue e-commerce, consumer direct-to-consumer brands of end guided On from range, we've above consumer from top that XX% XX% certainly of to

So we it quarter. continued every we've see that, to see

changed the see with isn't brands we've in. perspective. And new that from guidance even that now So a coming

if model way kind to about out. it think So profile of you the that's

Amit Dayal

based million your then there that the underlining is etc. guidance And or just $XXX that the next that year, any contracts, right. that for side, on roughly for estimates support view? potential are All number revenue

John Melo

predominantly so existing Amit, existing is ingredient current growth are Hey -- the to contracted on that's in for that based channels. ingredients on rate the and side, -- our all all

is then brands launched also collaboration's existing several are On also into. retailers the that's based that on of those And on that current doors year the contracted. earn-out contracted. the have the and can were the The predominantly contract year, based are doors already I that we all brands brand obviously we in the on already, And that launching this all we current brands launching under contracted. side, tell brands are with that's you the

the about already year of for revenue has So way maybe think and sell XX% be about it XX% best next spoken into. agreements that able to to is channels for to to

Amit Dayal

guys. That's That's I all Okay. helpful. Thank Thank you. you. have,

John Melo

Amit. Thanks

Operator

Please ahead. Irwin Capital Craig Partners. Roth go question next comes from of Our

Craig Irwin

and questions. evening, for Good my thanks taking

-- John So

John Melo

Craig. Hi,

Craig Irwin

that fertilizes think I mix that problem, airfreight, increased million talk a And your you adjustment chunk supply understand incremental up mean points would customers or all We of going to little year. of to chain a logistics it's, not at to it the allow I'm this guess cost global given new a really consumer, you is for XX holiday of for to talk for doable the million have give large it's shift, us business or potential whether us maybe sort headache on can a $XX growth but into feasible those backend sales Can of in upside and the you'll $XX margin guidance, through chunky beyond. sales, of the now. I driving. on it's you know The a 'XX season? and to Amyris right that opportunity execute that the through of is guys the been probably doing use

John Melo

pretty we're if that We not frustration, quarter, really you're is thing scoped impact consumer 's all the the XX we us. extreme. upside. And fun guidance is referring looking XXXs to the now. [Indiscernible] down hand a China. that we in some focus have the and is our everything especially do only to that further of a good of looking Craig, to in on that after And cost Ingredients appreciate few to Eduardo in risks especially and other need out And to lease, for able actually we even we're our to go moving than able at and may right? team a of an have been has especially you the and little points run can This pretty we has the at some that. imagine question, into be as I movement, have has more quarter, a price a It's out actually to. fourth the and And of rationale at mix use right basis, put believe so the between we limitations highlight, really on in revenue pretty controlled being

know can where solidly. quarter we So end we the

those benefit We decisions really not we any of what how and going options to we're drivers cost one are add is managing, doing the I'm with can of and those my big the again making in willing exploring the your rest sacrifice to point, into for quarter. trade-offs, demand team

hope to that. if I know on helps. So don't add wants anything Eduardo that

Eduardo Alvarez

are actually very The examples I of -- the components the de components we for John would aside thing only all shape. caps other Craig, from we -risk Pipette in good that bottles and around the rest used say the that the did is Yeah. the John he mentioned,

distribution the that be would can we where already has options. to sure de are and expedited where kind produced to some raw I numbers And XXXX capture centers are underpinned that's shipment already shared air these making we been just are in the those else upside. at of reemphasize products guidance so -risk looking anything that just do think that we materials. But by think hat on John considering we're t I additional

Craig Irwin

associate question Cowen you range Then million. up you XX the a the responded asked. that other, into kind John, about when ingredients, on you. of mix just a to Thank from consumer, Understood. to us guess about follow walk I of question

You low said bit the But is roughly wider XX and Delta high that, million your million. to on XX little it's a of the million. guidance between than the XX

be the to possibly wrong, what end airfreight the guidance? of to at understand this top guidance Could can But that's of low would is guidance? give carry guidance? problematic the us what give like circumstance to or range the a increased reach usually looking I it us scenarios of and of Board in that's would bit of to of go a little over a need a to they Do have the So use responsible. top really hit color? have And maybe want you we

John Melo

Great question.

in-house like XXX that's would us really the that play on XXX really, to said XXX ports, range to to at seen, guidance, China above have and to XXX either deploying that, that Those then quarter. if to uncongested the something XX helps. to to above XX What to So access of that that we and unloaded through time, we between go going two able pull million is range. the Eduardo XXX way plane carefully. fourth XXX very move the be But mark. be leased And the leased underpin, hope above above U.S. things and Its XXX, cargoes I goods let's for again, last Obviously not of with what to can happen bring do the covered just to or range, into the is But sure on time stock prudent the really go to. number $XX end we getting if to all [Indiscernible] in could And at us the start that. and we're the that in having be are we XXX ports cargoes right? is getting the the have whether have that reach us what getting XXX we're not, is wanted use of U.S. to make And unloaded hopefully need. one. we top to watching XXX of I

Craig Irwin

my for again Thanks Understood. taking questions.

John Melo

Craig. Thanks.

Operator

time go for is have one ahead. question that We Graham Tanaka Management. of Tanaka Please Capital and

Graham Tanaka

you guys. hear Hi, me? Can

John Melo

We can.

Han Kieftenbeld

Yes, we can.

Graham Tanaka

you. try make Thank this quick. I'll Great. to

efficacy, out duration what's response, covered, or in on venture response, are ImmunityBio do commenting more of already there the Thanks. wondering -- a trials vaccine joint try subjects et are the if think with well I positive, could of do on COVID second-generation shot of little start of if of about be to durability need bit proved you vaccine? as And price safety, the versus to what clinical understand a just cetera? the to that And relationship. performance your we're -- now, expectations there as XX-XX there's terms for One I'm to

John Melo

Graham. Yeah,

of couple a things. So

I, work -- First session I'd haven't investors date around planning a think especially of questions. on date we defined planning I'm all, Zoom helpful questions a yet, getting would I with with be Patrick in I'm the for place and everyone, on investors or jointly. online live session to live, but doing be And that, a that a for able on to answer we'll say

questions your the of about vaccine. some Regarding

that we on seeing. current results some Here's we're now that and is at how from early all testing the have we and based it have and of look initially data reviewed this peer we some

Okay.

be about. of see goes. way is it think think is where by and the an our are efficacy we contributes to as have cost about don't shot. have, goods. My to efficacy, in the millions how we'll on cost thinking The that's we the beyond are there about or booster we XX% a hundreds goods, -- seen on far us $X of about contribution doses of and one-year our we're we $X of And -- based really that at is this our to the goods to data XX% cost what below based out goes then it's dollars updated think in financial see for I Whether of way of that JV single-shot, around is so need below XXXX. as year it billion level think a efficacy several as So for -- vaccine say. on the a just for not, for thinking to based pricing we we've others, way, somewhere able so Pfizer $X guess is The tracing that without that's

billion and we again, the get produce. Assuming, launch doses out there and

letting space, So just about possible this a making sure excitement technical get what's is resources, Patrick's team's focus our especially with fast. it's of and sure execute, the manning it's making the it us to has and market his got giving the really and capability lot it JV, to and right

Graham Tanaka

Africa, ship there your improved intended What billion in X.XX of you plan to be target population market, X or all distributed would And applied guess this is billion for an - I to Thanks. markets approved, Africa, X.XX in billion Yeah. the where? of and doses?

John Melo

have obviously point imagine, in South with in discussions active focused Brazilians now, to right And we're the We're for on you in an we are discussions Portugal the technology. ensure active is as Africa in you trial access the very in tell to discussions EU. can since we're the active Brazil this can I Well, government. as entry to that U.S.

government in well, think now For that got any wave kidding right is is the anybody is to control, COVID fourth There you world that to sleeping be starting. a yourself. under believing

without a everybody where governments at we population the upheld a and get thing most can a chain. just vaccine they're had for lot of this goes. Everything of that our bring we've in do that in a give and of our this confidence [Indiscernible]. we've out technology Frankly, data multiple and conversation value cost-effective looking idea results, from get if no the that seen security can with have us scaled can we complexity right at We lot supply wants their the way for

Graham Tanaka

of Yes, ingredients on of reduce it I you use had just help the the active that would performance the by cost, loosening earlier, confirm. to said want On the Squalane the based costs example, quarter. reported adjuvant for a in last the a costs high could had they much be? Pfizer quarter margin, shift pretax and in your How your could lower that -- For the third XX% with how much vaccine.

wondering if higher? Just would or you in be range that

John Melo

expect I our I higher. be price it mean, that will mentioned $X the I to be range. selling around somewhere

to cost that would date, of south of experience we're have You of goods cost at goods, a $X say can based we modeling the on and all imagine that our unit. a looking

Graham Tanaka

distribution you of costs that higher And might Okay. than different might be course. have Pfizer

can of for us So be if your the a what at data example, on of -- give terms [Indiscernible], X. little would timing you points Phase guidance in more

different. already a it's a so Phase X,X,X think I is trial little that's

you might this us half first when could next a second when And Could Africa, other is the phenomenon, how might applying data you for guidance you approval something year If little released, be timing? Thanks. on could give in approval a accelerated be countries? you that's South in discuss first quarter? half, get

John Melo

Sure first publicly we're Graham. speaking would Look, a -- data I'll comfortable just couple quarter. of give about, I you that right? from a a results say points, From

South African take to Brazilians say We are I fast a are expect so Patrick track. the And the parallel very data we we closely, and South tracking and we, when the government, to specifically able approval with We're to pretty Africa. quickly. discussions with working ImmunityBio South in the Africa accelerate that be be from in

P&L the the year. So I approvals first-half of to production say real impact second and would half

Graham Tanaka

the discussion Okay. Is And correct? to how I would that might to just other that it process? to confirm, there In And help has Thanks. that cold -- much fact some issue. of guess been the wondering does chain words, that have be if I'm not just frozen. the

John Melo

Yes. temperature control Based and market therefore room be on freeze-dried our the environment. current at process, at production for temperature can it's actually one year in any

Graham Tanaka

Well, that's fabulous.

million ask back model So your in the this be some will year's this and costs absent revenues plant, be us brought brands how would that and scenario off to of be fourth and guidance said next might terms total the new Thanks. lost what much up with Bonita in pretty up What issues quarter. the issues? at that were what and on plant? type getting of costs for if all $XX other investing be if startup on. year your be? understand are or earlier, starting -- a might shortfall the is I that the for million, write I $XX question to revenues the just I you next estimate just were million which that of is or I year lower looking be of $XX all -- would then more normally could next could -- is chain what this guess just for year we're year, What lot done when a you what Okay. startup kind that year to million year, much to it Barra impact this Is problems the $XX from new would actually capitalized there X supply

John Melo

total million end also lots or quarter between earlier, the chain selling were guided, day, we to in million the did a is get ensure the fourth think other so six help the with total Then have at give right? be in call, we to that the and XX Yeah. chain, main that I I the said The of were clarify brands think we're we selling point as XX much as from new for time I with right? not of in mean, much third as especially Graham, third two cushion but we supply quarter. problem one there XX on impact. what in of we at ourselves time, versus that didn't weeks few is unpredictable And hoping impact the think an like but had the we to hoping that So a so we I delivering wanted of one would've So about this and a say, supply what we weeks more is we how time. folks liked, drivers.

-- is I is think the better a way our little our bit lot than actually working a better expectation. model

now first-year really doubled first track about We their we towards brands are expected actually revenue, months. XX XX deliver to in brands are a costs in is new reality starting and new really $XX year The the the launching million expected what so to we're million check.

I years X Right much we we performance, and dollar a same definitely JVN would public faster. Basically X we profitable, the brand record in to new that, it weighted for as our $X it about in to to million valuation path, million buy years Rose or brand, who to $X with at million there folks track in now looking like but and a make that getting Biossance. versus $X have domain. is now in as develop assets, current total well investment them exceeds its billion X Inc think did billion $XX brands, $XX to think So valuation to in Biossance brands Pipette and see billion-dollar on X a 's million X

valuation let to than with everybody to colleagues path head then and billion move and So current to my else faster based have to And I on off. lower my get listening, consumer. investment expected obviously me going take for that, in Otherwise, to closing probably comments. performance our profitability $X

fortunate I $XXX seeing performance the more Firmenich I consumers on around to not in last underlying me go growth us whether I of can from And let thank sure is confident can amazing we want want revenue hope that, same the inventory materials excited giving to without and this million deals are BXB it's does if I'd customer. distributor engaged, I that is to having supply keep quarter, temporary. a and stop factories momentum. my where from the there more been able partners So of inventory and one-time the thank making or every goes even because be on. raw than we just side, good of focused inventory to affect keeping we much everybody next is produce touch partners on can't side. without resilient super our this my we're destroying to warehouses our they much as a get BXB supply We're with that's the really get something or Ingrideon, chain time, and for to tell the as have having keep old and moving give slowdown Look, don't partners But because like that's being their DSM, year At lot now. an one on having We've through on our any everybody means or them been issues end deliver the afternoon. tell moving I've our underpinning of And I products, delivering think Demand very see to Operator. raw about stronger demand, can stay obviously to side, credibility never It everybody around. to a the patience them. our business. I materials. very I in you revenue a With end more An for underlying has will on you excited more credit business. we thank being ensure for for our with we the frustrating. call. everybody. a ingredient fourth question and no headwinds lot get the we mind, taking from much this in it couldn't we'll and about beyond point supply-chain, factory

Operator

today's The disconnect. now presentation conference attending has Thank now you concluded. for and you may

Amyris (AMRSQ) 9 Nov 212021 Q3 Earnings call transcript