DANIMER SCIENTIFIC Reports 1.3% Year-Over-Year Increase in Revenues for 2nd Quarter of FY2023
August 23, 2023
☀️Earnings Overview
DANIMER SCIENTIFIC ($NYSE:DNMR) reported total revenue of USD 12.9 million for the second quarter of FY2023 ending June 30 2023, a 1.3% year-over-year increase, and net income of USD -39.2 million, compared to -30.4 million in the same quarter of the prior year. This report was released on August 8 2023.
Analysis
GoodWhale has conducted a thorough analysis of DANIMER SCIENTIFIC‘s fundamentals, and based on its Risk Rating, has concluded that it is a high risk investment. GoodWhale has identified three potential risk warnings in the company’s income sheet, balance sheet, and cashflow statement. To access these warnings in full detail, users must register with GoodWhale. DANIMER SCIENTIFIC is likely to present a number of potential pitfalls for any potential investor, so it is essential that a full assessment of the company’s financial and business aspects is conducted. GoodWhale is committed to providing an in-depth and comprehensive analysis of the relevant data, helping to identify any areas of potential risk. As such, registered users are able to access the full risk warnings that have been identified by GoodWhale. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Danimer Scientific. More…
| Total Revenues | Net Income | Net Margin |
| 50.56 | -198.81 | -269.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Danimer Scientific. More…
| Operations | Investing | Financing |
| -45.59 | -96.71 | 106.71 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Danimer Scientific. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 744.25 | 413.97 | 3.24 |
Key Ratios Snapshot
Some of the financial key ratios for Danimer Scientific are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.1% | – | -245.9% |
| FCF Margin | ROE | ROA |
| -245.8% | -22.7% | -10.4% |
Peers
In the competitive world of plastic manufacturing, four companies stand out: Danimer Scientific Inc, Daios Plastic SA, Nanjing Julong Science & Technology Co Ltd, and Rangdong Plastic JSC. All four companies have their own unique strengths and weaknesses, but in the end, it is the customer who will decide which company provides the best products and services.
– Daios Plastic SA ($LTS:0ON5)
Daios Plastic SA is a publicly traded company with a market capitalization of 45.3M as of 2022. The company has a Return on Equity of 22.37%. Daios Plastic SA is engaged in the manufacture and sale of plastic products. The company offers a wide range of products, including plastic containers, plastic film, and plastic bags.
– Nanjing Julong Science & Technology Co Ltd ($SZSE:300644)
Nanjing Julong Science & Technology Co Ltd is a Chinese company that specializes in the production of medical equipment. The company has a market capitalization of 1.62 billion as of 2022 and a return on equity of 2.98%. The company’s products include X-ray machines, ultrasound machines, and CT scanners. Nanjing Julong Science & Technology Co Ltd is a publicly traded company listed on the Shenzhen Stock Exchange.
Summary
DANIMER SCIENTIFIC reported total revenue of USD 12.9 million for the second quarter of FY2023 ending June 30 2023, a 1.3% increase year-over-year. Net income for the quarter was USD -39.2 million, versus -30.4 million in the same quarter of the prior year. This report was released on August 8 2023. Based on these figures, investors may want to proceed with caution when investing in DANIMER SCIENTIFIC.
As its total revenue increased, its net income decreased significantly. Therefore, investors should do further research before investing in the company, to gain a better understanding of its financial performance and outlook.
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