Origin Materials reported an adjusted EBITDA loss of USD 9.2 million in Q4 2022, a deterioration from a loss of USD 6.6 million in Q4 2021. The company recorded a net income of USD 16 million for the quarter, up 208% YoY from USD 5.2 million in Q4 2021 supported by the increase in the interest income (+94% YoY), gain in fair value of earnout liability (+158% YoY), and gain in fair value of warrants liability (+125% YoY). Full-year adjusted EBITDA loss was USD 31 million compared to USD 20 million in the prior-year period but performed better than prior guidance . 

Operating losses for the year increased 67% YoY to USD 12.9 million in Q4 2022. This was due to higher general and administrative expenses (+81% YoY) and R&D spending (+54% YoY) during the quarter. 

The company is yet to generate revenue; however, it has increased its total signed offtake agreements and capacity reservations to USD 9.3 billion, up from USD 9 billion in November 2022. 

Origin Material's revenue and adjusted EBITDA guidance for FY 2023 stood at USD 40 million–USD 60 million and a loss of USD 50 million–USD 60 million, respectively. 

Key operational highlights include:

• Announced the mechanical completion of the Origin 1 manufacturing plant. As part of mechanical completion, the plant's critical mechanical systems have been installed and commissioning has begun.

• Received Louisiana State Bond Commission approval of financing for Origin 2. The Bond Commission's final approval could enable the debt financing of Origin 2 using entirely tax-exempt bonds.

• Partnered with Avantium , a leading technology company in renewable chemistry, to accelerate the mass production of FDCA and PEF for advanced chemicals and plastics.