Amyris Inc (NASDAQ:AMRS) reported GAAP revenues $35 million in Q3 2019. It is an increase of 144% when compared to the same period in 2018. Chief Executive Officer and President of Amyris, John Melo, said the company is excited to post record revenues in Q3. It is continuing to double the product revenues year-on-year and expects to exceed the revenue guidance of $150 million this year.
Overcomes capital challenges
Amyris can overcome capital challenges and manage the business to satisfy the growing demand across its core products. The company expects to overcome the capital challenges with NASDAQ compliance and filing with SEC. It aims to maintain consistency in growth in the coming quarters and expand the margins.
Pipette baby care improves engagement
Amyris’s Biossance brand redefines consumer expectations for sustainable, clean, and high performing skincare. Pipette baby care and Purecane sweetener receive wide acceptance from the customers. The company manufactured these products using purest ingredients. Both the brands are receiving outstanding product ratings from the consumers.
Introduces Biossance brand in New Zealand
Amyris already introduced Biossance brand in New Zealand and Australia and continuing the global expansion. It expects to post growth in revenues considering several Sephora stores and an improved footprint worldwide. Sephora also launched Biossance brand in the Thailand and South Korean markets. The company started the fourth quarter with a great promise and is on track to meet the guidance of $150 million in 2019.
The company is advancing the cannabis development program at a fast pace and expects product samples and formulation in early 2020. Amyris is confident of introducing cannabinoids in 2020. The company expects to post considerable revenues and royalties upon commercialization of these cannabinoids. Amyris expanded collaboration accords with China-based Yifan. The company also mobilized funds to meet the working capital needs and achieve revenue growth. John Doer is extending the financial support to Amyris. It refinanced the toxic convertible notes.
Amyris entered pacts with two accredited investors to buy its CVI Heights convertible notes on November 11, 2019, and exchanged convertible senior notes privately for $66 million. It expects to complete the transactions and issue new notes by November 12, 2019.