Biomaterials maker Origin Q3 revenue falls on reduction in the supply chain activation program

Overview

• Origin Materials Q3 revenue fell to $4.7 mln, down from $8.2 mln last year

• Company secures convertible debt financing up to $90 mln to fund growth

• Origin announces $20 mln equipment financing, increasing CapFormer capacity

Outlook

• Origin Materials maintains 2026 revenue guidance of $20 mln to $30 mln

• Company expects 2027 revenue of $100 mln to $200 mln

• Origin anticipates Adjusted EBITDA run-rate breakeven by 2027

Result Drivers

• FINANCING - Origin secures convertible debt financing up to $90 mln to maintain cash floor and fund growth

• CUSTOMER DEMAND - Strong demand for PET caps, particularly in water segment, supports commercialization strategy

• CAPFORMER EXPANSION - CapFormer deployment schedule on track, supporting revenue growth strategy

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the commodity chemicals peer group is "buy"

• Wall Street's median 12-month price target for Origin Materials Inc is $2.00, about 74.6% above its November 12 closing price of $0.51

Press Release: ID:nBwblKQFGa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)