• Origin Materials reported a net profit per share of USD 0.93 in Q2 2021, surpassing analyst estimates of a loss of USD 0.16 per share and up from the net loss per share of USD 0.03 recorded in Q2 2020.  The company generated an overall positive net income for the quarter mainly due to the positive change in the fair value of its earnout liability (USD 45.5 million). The company is yet to generate revenue. 

• The company’s operating losses for the quarter amounted to USD 6.7 million, up 291.3% year-over-year (YoY). This was due to the increased R&D spend (up 258.7% YoY) and general and administrative expenses (up 60.0% YoY) during the period.  

• Origin Materials maintained its previous full-year 2021 guidance, expecting an adjusted EBITDA loss of USD 25 million and a capital spend of up to USD 111 million.

Key operational milestones as of H1 2021 include:

• On track to complete construction of the Origin 1 plant by the end of 2022 and expects to complete Origin 2 by mid-2025. The company expects to complete the construction of both plants using its existing funds.

• Signed offtake agreements and capacity reservations reached USD 3.5 billion from USD 1 billion in February 2021.