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As Of Filer Filing For·On·As Docs:Size 5/07/21 Amyris, Inc. 10-Q 3/31/21 96:10M |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 998K 2: EX-4.02 Instrument Defining the Rights of Security Holders HTML 51K 3: EX-4.03 Instrument Defining the Rights of Security Holders HTML 39K 4: EX-5.01 Opinion of Counsel re: Legality HTML 36K 5: EX-10.01 Material Contract HTML 168K 6: EX-10.02 Material Contract HTML 35K 7: EX-31.01 Certification -- §302 - SOA'02 HTML 31K 8: EX-31.02 Certification -- §302 - SOA'02 HTML 31K 9: EX-32.01 Certification -- §906 - SOA'02 HTML 29K 10: EX-32.02 Certification -- §906 - SOA'02 HTML 29K 17: R1 Cover Page HTML 82K 18: R2 Condensed Consolidated Balance Sheets HTML 155K 19: R3 Condensed Consolidated Balance Sheets HTML 54K (Parentheticals) 20: R4 Condensed Consolidated Statements of Operations HTML 125K 21: R5 Condensed Consolidated Statements of Operations HTML 33K (Parentheticals) 22: R6 Condensed Consolidated Statements of Comprehensive HTML 49K Loss 23: R7 Condensed Consolidated Statements of Stockholders' HTML 114K Deficit and Mezzanine Equity 24: R8 Condensed Consolidated Statements of Cash Flows HTML 159K 25: R9 Condensed Consolidated Statements of Stockholders' HTML 30K Deficit and Mezzanine Equity (Parentheticals) 26: R10 Basis of Presentation and Summary of Significant HTML 41K Accounting Policies 27: R11 Balance Sheet Details HTML 115K 28: R12 Fair Value Measurement HTML 78K 29: R13 Debt HTML 105K 30: R14 Mezzanine Equity HTML 30K 31: R15 Stockholders' Deficit HTML 44K 32: R16 Net Loss Per Share Attributable to Common HTML 51K Shareholders 33: R17 Commitments and Contingencies HTML 40K 34: R18 Revenue Recognition and Contract Assets and HTML 137K Liabilities 35: R19 Related Party Transactions HTML 55K 36: R20 Stock-based Compensation HTML 59K 37: R21 Subsequent Events HTML 34K 38: R22 Basis of Presentation and Summary of Significant HTML 43K Accounting Policies (Policies) 39: R23 Balance Sheet Details (Tables) HTML 129K 40: R24 Fair Value Measurement (Tables) HTML 73K 41: R25 Debt (Tables) HTML 101K 42: R26 Stockholders' Deficit (Tables) HTML 42K 43: R27 Loss Per Share (Tables) HTML 52K 44: R28 Revenue Recognition and Contract Assets and HTML 127K Liabilities (Tables) 45: R29 Related Party Transactions (Tables) HTML 53K 46: R30 Stock-based Compensation (Tables) HTML 62K 47: R31 Basis of Presentation and Summary of Significant HTML 31K Accounting Policies - Narrative (Details) 48: R32 Balance Sheet Details - Allowance for Doubtful HTML 34K Accounts (Details) 49: R33 Balance Sheet Details - Inventories (Details) HTML 36K 50: R34 Balance Sheet Details - Deferred Cost of Products HTML 32K Sold - Related Party (Details) 51: R35 Balance Sheet Details - Additional Information HTML 53K (Details) 52: R36 Balance Sheet Details - Prepaid Expenses and Other HTML 38K Current Assets (Details) 53: R37 Balance Sheet Details - Property, Plant and HTML 46K Equipment (Details) 54: R38 Balance Sheet Details - Depreciation and HTML 30K Amortization (Details) 55: R39 Balance Sheet Details - Right-of-use Assets and HTML 36K Related Lease Liabilities (Details) 56: R40 Balance Sheet Details - Maturities of Financing HTML 89K and Operating Leases (Details) 57: R41 Balance Sheet Details - Other Assets (Details) HTML 36K 58: R42 Balance Sheet Details - Accrued and Other Current HTML 48K Liabilities (Details) 59: R43 Balance Sheet Details - Other Noncurrent HTML 41K Liabilities (Details) 60: R44 Fair Value Measurement - Fair Value, Assets, and HTML 57K Liabilities Measured on Recurring Basis (Details) 61: R45 Fair Value Measurement - Fair Value of Debt - HTML 62K Foris Convertible Note (LSA Amendment) (Details) 62: R46 Fair Value Measurement - Fair Value of Debt - HTML 54K Senior Convertible Notes (Details) 63: R47 Fair Value Measurement - Fair Value, Liabilities HTML 39K Measured on Recurring Basis, Unobservable Input Reconciliation (Details) 64: R48 Fair Value Measurement - Reconciliation for HTML 38K Compound Embedded Derivative Liability (Details) 65: R49 Fair Value Measurement - Freestanding Derivative HTML 40K Instruments (Details) 66: R50 Fair Value Measurement - Market-based Assumption HTML 50K and Estimates for Compound Embedded Derivative Liabilities Valuation (Details) 67: R51 Fair Value Measurement - Financial Assets and HTML 31K Liabilities (Details) 68: R52 Debt - Debt Components (Details) HTML 82K 69: R53 Debt - Future Minimum Payments (Details) HTML 68K 70: R54 Debt - Senior Convertible Notes (Details) HTML 42K 71: R55 Debt - Schottfield Debt (Details) HTML 38K 72: R56 Debt - DSM Amendments and Repayment (Details) HTML 59K 73: R57 Mezzanine Equity (Details Textual) HTML 33K 74: R58 Stockholders' Deficit - Warrant Activity (Details) HTML 70K 75: R59 Net Loss Per Share Attributable to Common HTML 63K Shareholders - Calculation of Basic and Diluted Net Loss Per Share of Common Stock (Details) 76: R60 Net Loss Per Share Attributable to Common HTML 43K Shareholders - Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) 77: R61 Commitments and Contingencies - Guarantor HTML 35K Arrangements (Details) 78: R62 Revenue Recognition and Contract Assets and HTML 80K Liabilities - Disaggregation of Revenue (Details) 79: R63 Revenue Recognition and Contract Assets and HTML 76K Liabilities - Revenue in Connection With Significant Revenue Agreement (Details) 80: R64 Revenue Recognition and Contract Assets and HTML 42K Liabilities - Contract Balances (Details) 81: R65 Revenue Recognition and Contract Assets and HTML 44K Liabilities - Remaining Performance Obligations (Details) 82: R66 Revenue Recognition and Contract Assets and HTML 51K Liabilities - DSM License Agreement and Contract Asset (Details) 83: R67 Revenue Recognition and Contract Assets and HTML 40K Liabilities - DSM Performance Agreement (Details) 84: R68 Revenue Recognition and Contract Assets and HTML 39K Liabilities - DSM Ingredients Collaboration (Details) 85: R69 Revenue Recognition and Contract Assets and HTML 48K Liabilities - Yifan Agreement (Details) 86: R70 Related Party Transactions - Related Party Debt HTML 53K (Details) 87: R71 Related Party Transactions - Related Party HTML 39K Accounts Receivable (Details) 88: R72 Stock-based Compensation - Share-based HTML 78K Compensation, Stock Options and Stock Appreciation Rights Award Activity (Details) 89: R73 Stock-based Compensation - Temporal Display of HTML 64K Share-based Compensation, Restricted Stock and Restricted Stock Units Activity (Details) 90: R74 Stock-based Compensation - Employee Service HTML 37K Share-based Compensation, Allocation of Recognized Period Costs (Details) 91: R75 Stock-based Compensation - Additional Information HTML 45K (Details) 92: R76 Subsequent Events - Primary and Secondary Offering HTML 51K (Details) 94: XML IDEA XML File -- Filing Summary XML 170K 16: XML XBRL Instance -- amrs-20210331_htm XML 2.64M 93: EXCEL IDEA Workbook of Financial Reports XLSX 113K 12: EX-101.CAL XBRL Calculations -- amrs-20210331_cal XML 336K 13: EX-101.DEF XBRL Definitions -- amrs-20210331_def XML 889K 14: EX-101.LAB XBRL Labels -- amrs-20210331_lab XML 2.08M 15: EX-101.PRE XBRL Presentations -- amrs-20210331_pre XML 1.31M 11: EX-101.SCH XBRL Schema -- amrs-20210331 XSD 260K 95: JSON XBRL Instance as JSON Data -- MetaLinks 439± 665K 96: ZIP XBRL Zipped Folder -- 0001365916-21-000017-xbrl Zip 400K
amrs-20210331 |
i ☒ | QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i Delaware | i 55-0856151 | |||||||
(State
or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
i Common Stock, $0.0001 par value per share | i AMRS | i The Nasdaq Stock Market, LLC |
Large accelerated filer | ☐ | i Accelerated filer | ☒ | ||||||||
Non-accelerated filer | ☐ | Smaller reporting company | i ☐ | ||||||||
Emerging growth company | i ☐ |
Class | Outstanding as of May 4, 2021 | ||||
Common Stock, $0.0001 par value per share | i 291,471,055 |
Page | ||||||||
PART I | ||||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
PART II | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
(In thousands, except shares and per share amounts) | March 31, 2021 | December 31, 2020 | ||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | i 143,821 | $ | i 30,152 | ||||
Restricted cash | i 283 | i 309 | ||||||
Accounts receivable, net of allowance of $ i 154
and $ i 137, respectively | i 27,036 | i 32,846 | ||||||
Accounts
receivable - related party, net of allowance of $ i 0 and $ i 0, respectively | i 391 | i 12,110 | ||||||
Contract assets | i 6,589 | i 4,178 | ||||||
Contract assets - related party | i 2,000 | i 1,203 | ||||||
Inventories | i 47,639 | i 42,862 | ||||||
Deferred cost of products sold - related party | i 5,220 | i 9,801 | ||||||
Prepaid expenses and other current assets | i 19,246 | i 13,103 | ||||||
Total current assets | i 252,225 | i 146,564 | ||||||
Property, plant and equipment, net | i 31,933 | i 32,875 | ||||||
Deferred cost of products sold, noncurrent - related party | i 9,391 | i 9,939 | ||||||
Restricted cash, noncurrent | i 961 | i 961 | ||||||
Recoverable taxes from Brazilian government entities | i 8,680 | i 8,641 | ||||||
Right-of-use assets under financing leases, net | i 9,296 | i 9,994 | ||||||
Right-of-use assets under operating leases, net | i 9,333 | i 10,136 | ||||||
Other assets | i 4,770 | i 3,704 | ||||||
Total assets | $ | i 326,589 | $ | i 222,814 | ||||
Liabilities, Mezzanine Equity and Stockholders' Deficit | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | i 44,154 | $ | i 41,045 | ||||
Accrued and other current liabilities | i 32,121 | i 30,707 | ||||||
Financing lease liabilities | i 3,258 | i 4,170 | ||||||
Operating lease liabilities | i 5,510 | i 5,226 | ||||||
Contract liabilities | i 6,163 | i 4,468 | ||||||
Debt,
current portion (includes instrument measured at fair value of $ i 54,757 and $ i 53,387, respectively) | i 55,904 | i 54,748 | ||||||
Related party debt, current portion | i — | i 22,689 | ||||||
Total current liabilities | i 147,110 | i 163,053 | ||||||
Long-term
debt, net of current portion (includes instrument measured at fair value of $ i 0 and $ i 0, respectively) | i 13,873 | i 26,170 | ||||||
Related
party debt, net of current portion (includes instrument measured at fair value of $ i 0 and $ i 0, respectively) | i 413,687 | i 159,452 | ||||||
Operating lease liabilities, net of current portion | i 8,209 | i 9,732 | ||||||
Derivative liabilities | i 31,384 | i 8,698 | ||||||
Other noncurrent liabilities | i 22,467 | i 22,754 | ||||||
Total liabilities | i 636,730 | i 389,859 | ||||||
Commitments and contingencies | i | i | ||||||
Mezzanine equity: Contingently redeemable common stock | i 5,000 | i 5,000 | ||||||
Stockholders’ deficit: | ||||||||
Preferred stock - $ i i 0.0001 /
par value, i i 5,000,000 / shares authorized
as of March 31, 2021 and December 31, 2020; i i i i 8,280 / / /
shares issued and outstanding as of March 31, 2021 and December 31, 2020 | i — | i — | ||||||
Common
stock - $ i i 0.0001 / par value, i i 350,000,000 /
shares authorized as of March 31, 2021 and December 31, 2020; i i 273,266,917 /
and i i 244,951,446 / shares issued and outstanding
as of March 31, 2021 and December 31, 2020, respectively | i 27 | i 24 | ||||||
Additional paid-in capital | i 2,106,214 | i 1,957,224 | ||||||
Accumulated other comprehensive loss | ( i 49,413) | ( i 47,375) | ||||||
Accumulated deficit | ( i 2,377,943) | ( i 2,086,692) | ||||||
Total Amyris, Inc. stockholders’ deficit | ( i 321,115) | ( i 176,819) | ||||||
Noncontrolling interest | i 5,974 | i 4,774 | ||||||
Total stockholders' deficit | ( i 315,141) | ( i 172,045) | ||||||
Total liabilities, mezzanine equity and stockholders' deficit | $ | i 326,589 | $ | i 222,814 |
Three Months Ended March 31, | |||||||||||||||||
(In thousands, except shares and per share amounts) | 2021 | 2020 | |||||||||||||||
Revenue: | |||||||||||||||||
Renewable products (includes related party revenue of $ i 1,662
and $ i 49, respectively) | $ | i 28,179 | $ | i 17,854 | |||||||||||||
Licenses
and royalties (includes related party revenue of $ i 143,612, and $ i 3,750, respectively) | i 143,800 | i 5,161 | |||||||||||||||
Grants
and collaborations (includes related party revenue of $ i 2,000 and $ i 3,018, respectively) | i 4,880 | i 6,115 | |||||||||||||||
Total
revenue (includes related party revenue of $ i 147,274 and $ i 6,817, respectively) | i 176,859 | i 29,130 | |||||||||||||||
Cost and operating expenses: | |||||||||||||||||
Cost of products sold | i 22,659 | i 11,790 | |||||||||||||||
Research and development | i 23,332 | i 17,126 | |||||||||||||||
Sales, general and administrative | i 37,922 | i 32,014 | |||||||||||||||
Total cost and operating expenses | i 83,913 | i 60,930 | |||||||||||||||
Income (loss) from operations | i 92,946 | ( i 31,800) | |||||||||||||||
Other income (expense): | |||||||||||||||||
Interest expense | ( i 5,813) | ( i 15,002) | |||||||||||||||
(Loss) gain from change in fair value of derivative instruments | ( i 22,745) | i 3,282 | |||||||||||||||
Loss from change in fair value of debt | ( i 326,785) | ( i 16,503) | |||||||||||||||
Loss upon extinguishment of debt | ( i 27,313) | ( i 27,319) | |||||||||||||||
Other (expense) income, net | ( i 678) | i 4 | |||||||||||||||
Total other expense, net | ( i 383,334) | ( i 55,538) | |||||||||||||||
Loss before income taxes and loss from investment in affiliate | ( i 290,388) | ( i 87,338) | |||||||||||||||
Provision for income taxes | ( i 55) | ( i 91) | |||||||||||||||
Gain (loss) from investment in affiliate | i 392 | ( i 415) | |||||||||||||||
Net loss | ( i 290,051) | ( i 87,844) | |||||||||||||||
Less: income attributable to noncontrolling interest in Aprinnova | ( i 1,200) | i — | |||||||||||||||
Net loss attributable to Amyris, Inc. | ( i 291,251) | ( i 87,844) | |||||||||||||||
Less: losses allocated to participating securities | i 2,099 | i 1,087 | |||||||||||||||
Net loss attributable to Amyris, Inc. common stockholders, basic and diluted | $ | ( i i 289,152 / ) | $ | ( i i 86,757 / ) | |||||||||||||
Loss per share attributable to common stockholders, basic and diluted | $ | ( i i 1.08 / ) | $ | ( i i 0.56 / ) | |||||||||||||
Weighted-average shares of common stock outstanding used in computing loss per share of common stock, basic and diluted | i 267,733,555 | i 155,065,635 | |||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||
Comprehensive loss: | |||||||||||||||||
Net loss | $ | ( i 290,051) | $ | ( i 87,844) | |||||||||||||
Foreign currency translation adjustment | ( i 2,038) | ( i 2,549) | |||||||||||||||
Total comprehensive loss | ( i 292,089) | ( i 90,393) | |||||||||||||||
Income attributable to noncontrolling interest | ( i 1,200) | i — | |||||||||||||||
Comprehensive loss attributable to Amyris, Inc. | $ | ( i 293,289) | $ | ( i 90,393) |
Preferred Stock | Common Stock | ||||||||||||||||||||||||||||||||||
(In thousands, except number of shares) | Shares | Amount | Shares | Amount | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit | Noncontrolling Interest | Total Stockholders' Deficit | Mezzanine Equity - Common Stock | |||||||||||||||||||||||||
Balances at December 31, 2020 | i 8,280 | $ | i — | i 244,951,446 | $ | i 24 | i 1,957,224 | $ | ( i 47,375) | $ | ( i 2,086,692) | $ | i 4,774 | $ | ( i 172,045) | $ | i 5,000 | ||||||||||||||||||
Issuance of common stock and payment of minimum employee taxes withheld upon net share settlement of restricted stock | — | — | i 496,341 | — | ( i 2) | — | — | — | ( i 2) | — | |||||||||||||||||||||||||
Issuance
of common stock upon conversion of debt principal, net of i 2,600,000 pre-delivery shares returned to Amyris | — | — | i 5,827,164 | i 1 | i 110,574 | — | — | — | i 110,575 | — | |||||||||||||||||||||||||
Issuance of common stock upon exercise of stock options | — | — | i 377,542 | — | i 1,920 | — | — | — | i 1,920 | — | |||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants | — | — | i 15,557,480 | i 2 | i 32,217 | — | — | — | i 32,219 | — | |||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants - related party | — | — | i 6,056,944 | i — | i — | — | — | — | i — | — | |||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | i 4,281 | — | — | — | i 4,281 | — | |||||||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | — | ( i 2,038) | — | — | ( i 2,038) | — | ||||||||||||||||||||||||||
Net loss attributable to Amyris, Inc. | — | — | — | — | — | $ | ( i 291,251) | $ | i 1,200 | ( i 290,051) | — | ||||||||||||||||||||||||
Balances at March 31, 2021 | i 8,280 | $ | i — | i 273,266,917 | $ | i 27 | $ | i 2,106,214 | $ | ( i 49,413) | $ | ( i 2,377,943) | $ | i 5,974 | $ | ( i 315,141) | $ | i 5,000 | |||||||||||||||||
Balances at December 31, 2019 | i 8,280 | $ | i — | i 117,742,677 | $ | i 12 | i 1,543,668 | $ | ( i 43,804) | $ | ( i 1,755,653) | $ | i 609 | $ | ( i 255,168) | $ | i 5,000 | ||||||||||||||||||
Issuance of common stock and warrants upon conversion of debt principal and accrued interest | — | — | i 6,337,594 | i 1 | i 21,259 | — | — | — | i 21,260 | — | |||||||||||||||||||||||||
Issuance of common stock in private placement | — | — | i 3,484,321 | — | i 10,000 | — | — | — | i 10,000 | — | |||||||||||||||||||||||||
Issuance of common stock in private placement - related party | — | — | i 10,505,652 | i 1 | i 27,188 | — | — | — | i 27,189 | — | |||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants | — | — | i 1,160,929 | — | i 3,332 | — | — | — | i 3,332 | — | |||||||||||||||||||||||||
Issuance of common stock upon exercise of warrants - related party | — | — | i 24,165,166 | i 2 | i 68,763 | — | — | — | i 68,765 | — | |||||||||||||||||||||||||
Exercise of common stock rights warrant - related party | — | — | — | — | i 15,000 | — | — | — | i 15,000 | — | |||||||||||||||||||||||||
Issuance of common stock right warrant - related party | — | — | — | — | i 8,904 | — | — | — | i 8,904 | — | |||||||||||||||||||||||||
Modification of previously issued common stock warrants | — | — | — | — | i 1,286 | — | — | — | i 1,286 | — | |||||||||||||||||||||||||
Derecognition of liability warrants to equity | — | — | — | — | i 5,200 | — | — | — | i 5,200 | — | |||||||||||||||||||||||||
Issuance of common stock and payment of minimum employee taxes withheld upon net share settlement of restricted stock | — | — | i 495,581 | — | ( i 8) | — | — | — | ( i 8) | — | |||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | i 3,504 | — | — | — | i 3,504 | — | |||||||||||||||||||||||||
Foreign currency translation adjustment | — | — | — | — | — | ( i 2,549) | — | — | ( i 2,549) | — | |||||||||||||||||||||||||
Net loss attributable to Amyris, Inc. | — | — | — | — | — | — | ( i 87,844) | — | ( i 87,844) | — | |||||||||||||||||||||||||
Balances at March 31, 2020 | i 8,280 | $ | i — | i 163,891,920 | $ | i 16 | $ | i 1,708,096 | $ | ( i 46,353) | $ | ( i 1,843,497) | $ | i 609 | $ | ( i 181,129) | $ | i 5,000 |
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||||||||||||||||||||
Operating activities | |||||||||||||||||||||||||||||||||||
Net loss | $ | ( i 290,051) | $ | ( i 87,844) | |||||||||||||||||||||||||||||||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||||||||||||||||||||||||||
(Gain) loss from change in fair value of debt | i 326,785 | i 16,503 | |||||||||||||||||||||||||||||||||
Loss upon extinguishment of debt | i 27,313 | i 27,319 | |||||||||||||||||||||||||||||||||
(Gain) loss from change in fair value of derivative instruments | i 22,745 | ( i 3,282) | |||||||||||||||||||||||||||||||||
Stock-based compensation | i 4,281 | i 3,504 | |||||||||||||||||||||||||||||||||
Depreciation and amortization | i 2,114 | i 1,719 | |||||||||||||||||||||||||||||||||
Amortization of right-of-use assets under operating leases | i 750 | i 668 | |||||||||||||||||||||||||||||||||
Accretion of debt discount | i 713 | i 1,292 | |||||||||||||||||||||||||||||||||
(Gain) loss on foreign currency exchange rates | i 408 | ( i 109) | |||||||||||||||||||||||||||||||||
Other | i — | i 42 | |||||||||||||||||||||||||||||||||
(Gain) loss from investment in affiliate | ( i 392) | i 415 | |||||||||||||||||||||||||||||||||
Changes in assets and liabilities: | |||||||||||||||||||||||||||||||||||
Accounts receivable | i 17,275 | ( i 5,209) | |||||||||||||||||||||||||||||||||
Contract assets | ( i 3,208) | ( i 870) | |||||||||||||||||||||||||||||||||
Inventories | ( i 5,686) | ( i 4,392) | |||||||||||||||||||||||||||||||||
Deferred cost of products sold - related party | i 5,129 | i 142 | |||||||||||||||||||||||||||||||||
Prepaid expenses and other assets | ( i 8,207) | ( i 1,430) | |||||||||||||||||||||||||||||||||
Accounts payable | i 4,154 | i 318 | |||||||||||||||||||||||||||||||||
Accrued and other liabilities | i 4,011 | i 4,009 | |||||||||||||||||||||||||||||||||
Lease liabilities | ( i 1,185) | ( i 1,043) | |||||||||||||||||||||||||||||||||
Contract liabilities | i 1,702 | i 1,873 | |||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | i 108,651 | ( i 46,375) | |||||||||||||||||||||||||||||||||
Investing activities | |||||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | ( i 2,493) | ( i 1,040) | |||||||||||||||||||||||||||||||||
Net cash used in investing activities | ( i 2,493) | ( i 1,040) | |||||||||||||||||||||||||||||||||
Financing activities | |||||||||||||||||||||||||||||||||||
Issuance costs incurred in connection with debt modification | ( i 2,500) | i — | |||||||||||||||||||||||||||||||||
Payment of minimum employee taxes withheld upon net share settlement of restricted stock units | ( i 2) | ( i 8) | |||||||||||||||||||||||||||||||||
Principal payments on debt | ( i 23,196) | ( i 6,981) | |||||||||||||||||||||||||||||||||
Principal payments on financing leases | ( i 912) | ( i 866) | |||||||||||||||||||||||||||||||||
Proceeds from exercise of common stock rights warrant - related party | i — | i 15,000 | |||||||||||||||||||||||||||||||||
Proceeds from exercises of common stock options | i 1,920 | i — | |||||||||||||||||||||||||||||||||
Proceeds from exercises of warrants | i 32,219 | i 3,332 | |||||||||||||||||||||||||||||||||
Proceeds from exercises of warrants - related party | i — | i 13,998 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of common and preferred stock in private placement, net of issuance costs | i — | i 10,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of common and preferred stock in private placement, net of issuance costs - related party | i — | i 15,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt, net of issuance costs | i — | i 188 | |||||||||||||||||||||||||||||||||
Net cash provided by financing activities | i 7,529 | i 49,663 | |||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ( i 44) | i 19 | |||||||||||||||||||||||||||||||||
Net increase in cash, cash equivalents and restricted cash | i 113,643 | i 2,267 | |||||||||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | i 31,422 | i 1,699 | |||||||||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at end of the period | $ | i 145,065 | $ | i 3,966 | |||||||||||||||||||||||||||||||
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | i 143,821 | $ | i 2,607 | |||||||||||||||||||||||||||||||
Restricted cash, current | i 283 | i 399 | |||||||||||||||||||||||||||||||||
Restricted cash, noncurrent | i 961 | i 960 | |||||||||||||||||||||||||||||||||
Total cash, cash equivalents and restricted cash | $ | i 145,065 | $ | i 3,966 |
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||||||||||||||||||||
Supplemental disclosures of cash flow information: | |||||||||||||||||||||||||||||||||||
Cash paid for interest | $ | i 3,275 | $ | i 3,152 | |||||||||||||||||||||||||||||||
Supplemental disclosures of non-cash investing and financing activities: | |||||||||||||||||||||||||||||||||||
Accrued interest added to debt principal | $ | i — | $ | i 1,527 | |||||||||||||||||||||||||||||||
Derecognition of derivative liabilities to equity upon extinguishment of debt | $ | i 59 | $ | i — | |||||||||||||||||||||||||||||||
Derecognition of derivative liabilities upon exercise of warrants | $ | i — | $ | i 5,200 | |||||||||||||||||||||||||||||||
Exercise of common stock warrants in exchange for debt principal and accrued interest reduction | $ | i — | $ | i 69,918 | |||||||||||||||||||||||||||||||
Fair value of embedded features in connection with private placement | $ | i — | $ | i 2,962 | |||||||||||||||||||||||||||||||
Fair value of warrants and embedded features recorded as debt discount in connection with debt issuances | $ | i — | $ | i 188 | |||||||||||||||||||||||||||||||
Fair value of warrants and embedded features recorded as debt discount in connection with debt issuances - related party | $ | i — | $ | i 747 | |||||||||||||||||||||||||||||||
Issuance of common stock and warrants upon conversion of debt principal and accrued interest | $ | i 110,575 | $ | i 18,333 | |||||||||||||||||||||||||||||||
Unpaid property, plant and equipment balances in accounts payable and accrued liabilities at end of period | $ | i 1,121 | $ | i 1,307 |
(In thousands) | Balance at Beginning of Year | Provisions | Write-offs, Net | Balance at End of Period | ||||||||||
Three months ended March 31, 2021 | $ | i 137 | $ | i 17 | $ | i — | $ | i 154 | ||||||
Three months ended March 31, 2020 | $ | i 45 | $ | i — | $ | i — | $ | i 45 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Raw materials | $ | i 12,185 | $ | i 11,800 | ||||
Work-in-process | i 8,702 | i 10,760 | ||||||
Finished goods | i 26,752 | i 20,302 | ||||||
Inventories | $ | i 47,639 | $ | i 42,862 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Deferred cost of products sold - related party | $ | i 5,220 | $ | i 9,801 | ||||
Deferred cost of products sold, noncurrent - related party | i 9,391 | i 9,939 | ||||||
Total | $ | i 14,611 | $ | i 19,740 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Prepayments, advances and deposits | $ | i 13,453 | $ | i 6,637 | ||||
Non-inventory production supplies | i 3,364 | i 3,989 | ||||||
Recoverable taxes from Brazilian government entities | i 1,020 | i 1,063 | ||||||
Other | i 1,409 | i 1,414 | ||||||
Total prepaid expenses and other current assets | $ | i 19,246 | $ | i 13,103 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Machinery and equipment | $ | i 49,880 | $ | i 50,415 | ||||
Leasehold improvements | i 44,800 | i 45,197 | ||||||
Computers and software | i 7,362 | i 6,741 | ||||||
Furniture and office equipment, vehicles and land | i 3,450 | i 3,507 | ||||||
Construction in progress | i 7,238 | i 7,250 | ||||||
i 112,730 | i 113,110 | |||||||
Less: accumulated depreciation and amortization | ( i 80,797) | ( i 80,235) | ||||||
Property, plant and equipment, net | $ | i 31,933 | $ | i 32,875 |
Three Months Ended March 31, | |||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||
Depreciation and amortization expense | $ | i 2,114 | $ | i 1,719 |
Three Months Ended March 31, | ||||||||
2021 | 2020 | |||||||
Cash paid for operating lease liabilities, in thousands | $ i 1,185 | $ i 1,893 | ||||||
Right-of-use assets obtained in exchange for new operating lease obligations, in thousands | $ i — | $ i — | ||||||
Weighted-average remaining lease term | i 2.7 | i 3.2 | ||||||
Weighted-average discount rate | i 18.0% | i 18.0% |
Years ending December 31: (In thousands) | Financing Leases | Operating Leases | Total Leases | ||||||||
2021 (Remaining Nine Months) | $ | i 3,491 | $ | i 5,644 | $ | i 9,135 | |||||
2022 | i — | i 7,655 | i 7,655 | ||||||||
2023 | i — | i 3,320 | i 3,320 | ||||||||
2024 | i — | i 150 | i 150 | ||||||||
2025 | i — | i — | i — | ||||||||
Total lease payments | i 3,491 | i 16,769 | i 20,260 | ||||||||
Less: amount representing interest | ( i 233) | ( i 3,050) | ( i 3,283) | ||||||||
Total lease liability | $ | i 3,258 | $ | i 13,719 | $ | i 16,977 | |||||
Current lease liability | $ | i 3,258 | $ | i 5,510 | $ | i 8,768 | |||||
Noncurrent lease liability | i — | i 8,209 | i 8,209 | ||||||||
Total lease liability | $ | i 3,258 | $ | i 13,719 | $ | i 16,977 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Equity-method investment | $ | i 3,431 | $ | i 2,380 | ||||
Deposits | i 126 | i 128 | ||||||
Other | i 1,213 | i 1,196 | ||||||
Total other assets | $ | i 4,770 | $ | i 3,704 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Payroll and related expenses | $ | i 10,540 | $ | i 8,230 | ||||
Accrued interest | i 7,721 | i 9,327 | ||||||
Contract termination fees | i 5,311 | i 5,344 | ||||||
Asset
retirement obligation(1) | i 3,003 | i 3,041 | ||||||
Professional services | i 1,604 | i 994 | ||||||
Ginkgo partnership payments obligation | i 878 | i 878 | ||||||
Tax-related liabilities | i 639 | i 656 | ||||||
Other | i 2,425 | i 2,237 | ||||||
Total accrued and other current liabilities | $ | i 32,121 | $ | i 30,707 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Liability for unrecognized tax benefit | $ | i 7,551 | $ | i 7,496 | ||||
Ginkgo partnership payments obligation, net of current portion | i 7,461 | i 7,277 | ||||||
Liability in connection with acquisition of equity-method investment | i 7,216 | i 6,771 | ||||||
Contract liabilities, net of current portion | i 111 | i 111 | ||||||
Other | i 128 | i 1,099 | ||||||
Total other noncurrent liabilities | $ | i 22,467 | $ | i 22,754 |
(In thousands) | March 31, 2021 | December 31, 2020 | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Foris Convertible Note (LSA Amendment) | $ | i — | $ | i — | $ | i 379,439 | $ | i 379,439 | $ | i — | $ | i — | $ | i 123,164 | $ | i 123,164 | |||||||||||||
Senior Convertible Notes | i — | i — | i 54,757 | i 54,757 | i — | i — | i 53,387 | i 53,387 | |||||||||||||||||||||
Embedded derivatives bifurcated from debt instruments | i — | i — | i 188 | i 188 | i — | i — | i 247 | i 247 | |||||||||||||||||||||
Freestanding derivative instruments issued in connection with other debt and equity instruments | i — | i — | i 31,196 | i 31,196 | i — | i — | i 8,451 | i 8,451 | |||||||||||||||||||||
Total liabilities measured and recorded at fair value | $ | i — | $ | i — | $ | i 465,580 | $ | i 465,580 | $ | i — | $ | i — | $ | i 185,249 | $ | i 185,249 |
In thousands | |||||
Fair value at December 31, 2020 | $ | i 53,387 | |||
Loss from change in fair value | i 70,510 | ||||
Less: principal converted into common stock | ( i 20,000) | ||||
Less: fair value adjustment extinguished upon conversion of debt principal | ( i 49,140) | ||||
Fair value at March 31, 2021 | $ | i 54,757 |
(In thousands) | Derivative Liability | ||||
Balance at December 31, 2020 | $ | i 8,698 | |||
Change in fair value of derivative instruments | i 22,745 | ||||
Derecognition on settlement or extinguishment | ( i 59) | ||||
Balance at March 31, 2021 | $ | i 31,384 |
Range for the Period | ||||||||
Input assumptions for liability classified warrants: | March 31, 2021 | December 31, 2020 | ||||||
Fair value of common stock on issue date | $ i 19.10
– $ i 19.10 | $ i 2.56 – $ i 6.18 | ||||||
Exercise price of warrants | $ i 2.87 – $ i 2.87 | $ i 2.87
– $ i 3.25 | ||||||
Expected volatility | i 114% – i 114% | i 94%
– i 117% | ||||||
Risk-free interest rate | i 0.16% – i 0.16% | i 0.13%
– i 1.58% | ||||||
Expected term in years | i 2 – i 2 | i 1
– i 2 | ||||||
Dividend yield | i 0.0 | % | i 0.0 % |
March 31, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||
(In thousands) | Principal | Unaccreted Debt Discount | Change in Fair Value | Net | Principal | Unaccreted Debt Discount | Change in Fair Value | Net | |||||||||||||||||||||
Convertible notes payable | |||||||||||||||||||||||||||||
Senior convertible notes | $ | i 10,020 | $ | i — | $ | i 44,737 | $ | i 54,757 | $ | i 30,020 | $ | i — | $ | i 23,367 | $ | i 53,387 | |||||||||||||
i | i | i | i | i | i | i | i | ||||||||||||||||||||||
Related party convertible notes payable | |||||||||||||||||||||||||||||
Foris convertible note | i 50,041 | i — | i 329,398 | i 379,439 | i 50,041 | i — | i 73,123 | i 123,164 | |||||||||||||||||||||
i | i | i | i | i | i | i | i | ||||||||||||||||||||||
Loans payable and credit facilities | |||||||||||||||||||||||||||||
Schottenfeld notes | i — | i — | i — | i — | i 12,500 | ( i 240) | i — | i 12,260 | |||||||||||||||||||||
Nikko notes | i 2,737 | ( i 725) | i — | i 2,012 | i 2,802 | ( i 759) | i — | i 2,043 | |||||||||||||||||||||
Ginkgo note | i 12,000 | i — | i — | i 12,000 | i 12,000 | i — | i — | i 12,000 | |||||||||||||||||||||
Other loans payable | i 1,009 | i — | i — | i 1,009 | i 1,227 | i — | i — | i 1,227 | |||||||||||||||||||||
i 15,746 | ( i 725) | i — | i 15,021 | i 28,529 | ( i 999) | i — | i 27,530 | ||||||||||||||||||||||
Related party loans payable | |||||||||||||||||||||||||||||
Foris note | i 5,000 | i — | i — | i 5,000 | i 5,000 | i — | i — | i 5,000 | |||||||||||||||||||||
DSM notes | i 10,000 | ( i 4,254) | i — | i 5,746 | i 33,000 | ( i 2,443) | i — | i 30,557 | |||||||||||||||||||||
Naxyris note | i 23,914 | ( i 412) | i — | i 23,502 | i 23,914 | ( i 493) | i — | i 23,421 | |||||||||||||||||||||
i 38,914 | ( i 4,666) | i — | i 34,248 | i 61,914 | ( i 2,936) | i — | i 58,978 | ||||||||||||||||||||||
Total debt | $ | i 114,721 | $ | ( i 5,391) | $ | i 374,135 | i 483,465 | $ | i 170,504 | $ | ( i 3,935) | $ | i 96,490 | i 263,059 | |||||||||||||||
Less: current portion | ( i 55,904) | ( i 77,437) | |||||||||||||||||||||||||||
Long-term debt, net of current portion | $ | i 427,561 | $ | i 185,622 |
(In thousands) | Convertible Notes | Loans Payable and Credit Facilities | Related Party Convertible Notes | Related Party Loans Payable and Credit Facilities | Total | ||||||||||||
2021 (Remaining Nine Months) | $ | i 11,189 | $ | i 2,260 | $ | i — | $ | i 2,782 | $ | i 16,231 | |||||||
2022 | i — | i 13,268 | i 59,578 | i 42,379 | i 115,225 | ||||||||||||
2023 | i — | i 399 | i — | i — | i 399 | ||||||||||||
2024 | i — | i 398 | i — | i — | i 398 | ||||||||||||
2025 | i — | i 397 | i — | i — | i 397 | ||||||||||||
Thereafter | i — | i 1,473 | i — | i — | i 1,473 | ||||||||||||
Total future minimum payments | i 11,189 | i 18,195 | i 59,578 | i 45,161 | i 134,123 | ||||||||||||
Less: amount representing interest | ( i 1,169) | ( i 2,449) | ( i 9,537) | ( i 6,247) | ( i 19,402) | ||||||||||||
Present value of minimum debt payments | i 10,020 | i 15,746 | i 50,041 | i 38,914 | i 114,721 | ||||||||||||
Less: current portion of debt principal | ( i 10,020) | ( i 1,280) | i — | i — | ( i 11,300) | ||||||||||||
Noncurrent portion of debt principal | $ | i — | $ | i 14,466 | $ | i 50,041 | $ | i 38,914 | $ | i 103,421 |
Transaction | Number Outstanding as of March 31, 2021 | Exercise Price per Share as of March 31, 2021 | |||||||||
Blackwell and Silverback warrants | i 1,000,000 | $ | i 3.25 | ||||||||
January 2020 warrant exercise right shares | i 4,209,608 | $ | i 2.87 | ||||||||
April 2019 PIPE warrants | i 1,381,940 | $ i 4.76/$ i 5.02 | |||||||||
Naxyris LSA warrants | i 2,000,000 | $ | i 2.87 | ||||||||
October 2019 Naxyris warrant | i 2,000,000 | $ | i 3.87 | ||||||||
May 2019 6.50% Note Exchange warrants | i 960,225 | $ | i 2.87 | ||||||||
May 2017 cash warrants | i 1,863,056 | $ | i 2.87 | ||||||||
May 2017 dilution warrants | i 3,085,893 | $ | i 0.00 | ||||||||
August 2017 dilution warrants | i 3,028,983 | $ | i 0.00 | ||||||||
July 2015 related party debt exchange | i 58,690 | $ | i 0.15 | ||||||||
Other | i 1,406 | $ | i 160.05 | ||||||||
i 19,589,801 |
Three Months Ended March 31, | |||||||||||||||||
(In thousands, except shares and per share amounts) | 2021 | 2020 | |||||||||||||||
Numerator: | |||||||||||||||||
Net loss attributable to Amyris, Inc. | $ | ( i 291,251) | $ | ( i 87,844) | |||||||||||||
Less: losses allocated to participating securities | i 2,099 | i 1,087 | |||||||||||||||
Net loss attributable to Amyris, Inc. common stockholders, basic and diluted | $ | ( i 289,152) | $ | ( i 86,757) | |||||||||||||
Denominator: | |||||||||||||||||
Weighted-average shares of common stock outstanding used in computing net loss per share of common stock, basic and diluted | i i 267,733,555 / | i i 155,065,635 / | |||||||||||||||
Loss per share, basic and diluted | $ | ( i i 1.08 / ) | $ | ( i i 0.56 / ) | |||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2021 | 2020 | ||||||||||||||||
Period-end common stock warrants | i 13,416,235 | i 50,518,519 | |||||||||||||||
Convertible
promissory notes(1) | i 19,540,447 | i 9,217,185 | |||||||||||||||
Period-end stock options to purchase common stock | i 6,205,576 | i 5,578,264 | |||||||||||||||
Period-end restricted stock units | i 6,653,640 | i 5,298,639 | |||||||||||||||
Period-end preferred stock | i 1,943,661 | i 1,943,661 | |||||||||||||||
Total potentially dilutive securities excluded from computation of diluted loss per share | i 47,759,559 | i 72,556,268 |
Three Months Ended March 31, | |||||||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||||||||||||||
Renewable Products | Licenses and Royalties | Grants and Collaborations | Total | Renewable Products | Licenses and Royalties | Grants and Collaborations | Total | ||||||||||||||||||||||
United States | $ | i 20,090 | $ | i — | $ | i 250 | $ | i 20,340 | $ | i 11,944 | $ | i — | $ | i — | $ | i 11,944 | |||||||||||||
Europe | i 2,972 | i 143,800 | i 2,346 | i 149,118 | i 3,242 | i 5,161 | i 3,356 | i 11,759 | |||||||||||||||||||||
Asia | i 4,405 | i | i 2,284 | i 6,689 | i 2,018 | i — | i 2,759 | i 4,777 | |||||||||||||||||||||
Brazil | i 313 | i | i | i 313 | i 577 | i — | i — | i 577 | |||||||||||||||||||||
Other | i 399 | i | i | i 399 | i 73 | i — | i — | i 73 | |||||||||||||||||||||
$ | i 28,179 | $ | i 143,800 | $ | i 4,880 | $ | i 176,859 | $ | i 17,854 | $ | i 5,161 | $ | i 6,115 | $ | i 29,130 | ||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||||||||||||||
Renewable Products | Licenses and Royalties | Grants and Collaborations | Total | Renewable Products | Licenses and Royalties | Grants and Collaborations | Total | ||||||||||||||||||||||
Consumer | $ | i 15,653 | $ | i — | $ | i — | $ | i 15,653 | $ | i 9,065 | $ | i — | $ | i — | $ | i 9,065 | |||||||||||||
Ingredients | i 12,526 | i 143,800 | i — | i 156,326 | i 8,789 | i 5,161 | i — | i 13,950 | |||||||||||||||||||||
Research and development | i — | i — | i 4,880 | i 4,880 | i — | i — | i 6,115 | i 6,115 | |||||||||||||||||||||
$ | i 28,179 | $ | i 143,800 | $ | i 4,880 | $ | i 176,859 | $ | i 17,854 | $ | i 5,161 | $ | i 6,115 | $ | i 29,130 |
Three Months Ended March 31, | |||||||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||||||||||||||
Renewable Products | Licenses and Royalties | Grants and Collaborations | Total | Renewable Products | Licenses and Royalties | Grants and Collaborations | Total | ||||||||||||||||||||||
DSM - related party | $ | i 1,662 | $ | i 143,612 | $ | i 2,000 | $ | i 147,274 | $ | i 49 | $ | i 3,750 | $ | i 3,018 | $ | i 6,817 | |||||||||||||
Sephora | i 4,441 | i — | i — | i 4,441 | i 4,446 | i — | i — | i 4,446 | |||||||||||||||||||||
Yifan | i — | i — | i 2,284 | i 2,284 | i — | i — | i 2,709 | i 2,709 | |||||||||||||||||||||
Firmenich | i 379 | i 188 | i 205 | i 772 | i 1,229 | i 1,411 | i 161 | i 2,801 | |||||||||||||||||||||
Givaudan | i 210 | i — | i — | i 210 | i 2,109 | i — | i — | i 2,109 | |||||||||||||||||||||
Subtotal revenue from significant revenue agreements | i 6,692 | i 143,800 | i 4,489 | i 154,981 | i 7,833 | i 5,161 | i 5,888 | i 18,882 | |||||||||||||||||||||
Revenue from all other customers | i 21,487 | i — | i 391 | i 21,878 | i 10,021 | i — | i 227 | i 10,248 | |||||||||||||||||||||
Total revenue from all customers | $ | i 28,179 | $ | i 143,800 | $ | i 4,880 | $ | i 176,859 | $ | i 17,854 | $ | i 5,161 | $ | i 6,115 | $ | i 29,130 | |||||||||||||
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Accounts receivable, net | $ | i 27,036 | $ | i 32,846 | ||||
Accounts receivable - related party, net | $ | i 391 | $ | i 12,110 | ||||
Contract assets | $ | i 6,589 | $ | i 4,178 | ||||
Contract assets - related party | $ | i 2,000 | $ | i 1,203 | ||||
Contract liabilities | $ | i 6,163 | $ | i 4,468 | ||||
Contract
liabilities, noncurrent(1) | $ | i 111 | $ | i 111 |
(In thousands) | As of March 31, 2021 | ||||
Remaining 2021 | $ | i 143 | |||
2022 | i 3,103 | ||||
2023 | i 1,430 | ||||
2024 and thereafter | i 429 | ||||
Total from all customers | $ | i 5,105 |
March 31, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||
In thousands | Principal | Unaccreted Debt Discount | Change in Fair Value | Net | Principal | Unaccreted Debt Discount | Change in Fair Value | Net | |||||||||||||||||||||
Foris notes | $ | i 55,041 | $ | i — | $ | i 329,398 | $ | i 384,439 | $ | i 55,041 | $ | i — | $ | i 73,123 | $ | i 128,164 | |||||||||||||
DSM notes | i 10,000 | ( i 4,254) | i — | i 5,746 | i 33,000 | ( i 2,443) | i — | i 30,557 | |||||||||||||||||||||
Naxyris note | i 23,914 | ( i 412) | i — | i 23,502 | i 23,914 | ( i 493) | i — | i 23,421 | |||||||||||||||||||||
$ | i 88,955 | $ | ( i 4,666) | $ | i 329,398 | $ | i 413,687 | $ | i 111,955 | $ | ( i 2,936) | $ | i 73,123 | $ | i 182,142 |
(In thousands) | March 31, 2021 | December 31, 2020 | ||||||
Accounts receivable - related party | $ | i 391 | $ | i 12,110 | ||||
Contract assets - related party | $ | i 2,000 | $ | i 1,203 | ||||
Accounts payable | $ | i 10,302 | $ | i 5,011 |
Quantity of Stock Options | Weighted- average Exercise Price | Weighted-average Remaining Contractual Life, in Years | Aggregate Intrinsic Value, in Thousands | |||||||||||
Outstanding - December 31, 2020 | i 6,502,096 | $ | i 7.64 | i 7.6 | $ | i 8,875 | ||||||||
Granted | i 131,408 | $ | i 14.52 | |||||||||||
Exercised | ( i 375,390) | $ | i 5.12 | |||||||||||
Forfeited or expired | ( i 52,538) | $ | i 38.21 | |||||||||||
Outstanding - March 31, 2021 | i 6,205,576 | $ | i 7.68 | i 7.4 | $ | i 82,615 | ||||||||
Vested or expected to vest after March 31, 2021 | i 5,697,447 | $ | i 7.91 | i 7.3 | $ | i 75,493 | ||||||||
Exercisable at March 31, 2021 | i 1,259,029 | $ | i 18.19 | i 5.8 | $ | i 12,884 |
Quantity of Restricted Stock Units | Weighted-average Grant-date Fair Value | Weighted-average Remaining Contractual Life, in Years | |||||||||
Outstanding - December 31, 2020 | i 7,043,909 | $ | i 4.18 | i 1.5 | |||||||
Awarded | i 345,903 | $ | i 13.53 | ||||||||
Released | ( i 496,492) | $ | i 4.34 | ||||||||
Forfeited | ( i 239,680) | $ | i 4.22 | ||||||||
Outstanding - March 31, 2021 | i 6,653,640 | $ | i 4.65 | i 1.4 | |||||||
Vested or expected to vest after March 31, 2021 | i 6,082,165 | $ | i 4.65 | i 1.3 |
Three Months Ended March 31, | |||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||
Cost of products sold | $ | i 63 | $ | i — | |||||||||||||
Research and development | i 1,062 | i 1,065 | |||||||||||||||
Sales, general and administrative | i 3,156 | i 2,439 | |||||||||||||||
Total stock-based compensation expense | $ | i 4,281 | $ | i 3,504 |
Three Months Ended March 31, | |||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||
Revenue | |||||||||||||||||
Renewable products | $ | 28,179 | $ | 17,854 | |||||||||||||
Licenses and royalties | 143,800 | 5,161 | |||||||||||||||
Grants and collaborations | 4,880 | 6,115 | |||||||||||||||
Total revenue | $ | 176,859 | $ | 29,130 |
Three Months Ended March 31, | |||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||
Cost and operating expenses | |||||||||||||||||
Cost of products sold | $ | 22,659 | $ | 11,790 | |||||||||||||
Research and development | 23,332 | 17,126 | |||||||||||||||
Sales, general and administrative | 37,922 | 32,014 | |||||||||||||||
Total cost and operating expenses | $ | 83,913 | $ | 60,930 |
Three Months Ended March 31, | |||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||
Other income (expense): | |||||||||||||||||
Interest expense | (5,813) | (15,002) | |||||||||||||||
(Loss) gain from change in fair value of derivative instruments | (22,745) | 3,282 | |||||||||||||||
Loss from change in fair value of debt | (326,785) | (16,503) | |||||||||||||||
Loss upon extinguishment of debt | (27,313) | (27,319) | |||||||||||||||
Other (expense) income, net | (678) | 4 | |||||||||||||||
Total other expense, net | $ | (383,334) | $ | (55,538) |
(In thousands) | March 31, 2021 | December
31, 2020 | ||||||
Working capital (working capital deficit) | $ | 105,115 | $ | (16,489) | ||||
Cash and cash equivalents | $ | 143,821 | $ | 30,152 | ||||
Debt and lease obligations | $ | 500,441 | $ | 282,187 | ||||
Accumulated deficit | $ | (2,377,943) | $ | (2,086,692) |
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||||
(In thousands) | 2021 | 2020 | |||||||||||||||||||||||||||||||||
Net cash (used in) provided by: | |||||||||||||||||||||||||||||||||||
Operating activities | $ | 108,651 | $ | (46,375) | |||||||||||||||||||||||||||||||
Investing activities | $ | (2,493) | $ | (1,040) | |||||||||||||||||||||||||||||||
Financing activities | $ | 7,529 | $ | 49,663 |
Payable
by year ending December 31, (In thousands) | Total | 2021 | 2022 | 2023 | 2024 | 2025 | Thereafter | ||||||||||||||||
Principal payments on debt | $ | 114,720 | $ | 11,231 | $ | 101,235 | $ | 293 | $ | 307 | $ | 321 | $ | 1,333 | |||||||||
Interest
payments on debt | 19,403 | 5,001 | 13,989 | 106 | 91 | 76 | 140 | ||||||||||||||||
Construction costs in connection with new production facility | 23,107 | 23,107 | — | — | — | — | — | ||||||||||||||||
Marketing services commitments | 19,213 | 4,713 | 3,500 | 3,500 | 3,500 | 4,000 | — | ||||||||||||||||
Equity-method investment purchase obligation | 10,800 | — | 10,800 | — | — | — | — | ||||||||||||||||
Contract termination fees | 5,311 | 5,311 | — | — | — | — | — | ||||||||||||||||
Financing leases | 3,491 | 3,491 | — | — | — | — | — | ||||||||||||||||
Operating leases | 16,769 | 5,644 | 7,655 | 3,320 | 150 | — | — | ||||||||||||||||
Partnership payment obligation | 11,066 | 658 | 10,408 | — | — | — | — | ||||||||||||||||
Total | $ | 223,880 | $ | 59,156 | $ | 147,587 | $ | 7,219 | $ | 4,048 | $ | 4,397 | $ | 1,473 |
Exhibit No. | Description | Incorporation by Reference | ||||||||||||||||||
Form | File No. | Exhibit | Filing Date | Filed Herewith | ||||||||||||||||
4.01 | S-3ASR | 333-255105 | 4.18 | 04.07.2021 | ||||||||||||||||
4.02 | x | |||||||||||||||||||
4.03 | x | |||||||||||||||||||
5.01 | x | |||||||||||||||||||
10.01a | x | |||||||||||||||||||
10.02 | x | |||||||||||||||||||
23.01 | x | |||||||||||||||||||
31.01 | x | |||||||||||||||||||
31.02 | x | |||||||||||||||||||
32.01b | x | |||||||||||||||||||
32.02b | x | |||||||||||||||||||
101.INS | XBRL Instance Document | |||||||||||||||||||
101.SCH | XBRL Taxonomy Extension Schema Document | |||||||||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | |||||||||||||||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | |||||||||||||||||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | |||||||||||||||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | |||||||||||||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
a | Portions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K promulgated under the Exchange Act. | ||||
b | This certification shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act. |
AMYRIS, INC. | |||||
By: | /s/ John G. Melo | ||||
President and Chief Executive Officer (Principal Executive Officer) | |||||
May 7, 2021 | |||||
By: | /s/ Han Kieftenbeld | ||||
Chief
Financial Officer (Principal Financial Officer) | |||||
May 7, 2021 |
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
8/7/22 | ||||
4/15/22 | ||||
12/31/21 | 10-K, 5, NT 10-K | |||
9/30/21 | 10-Q | |||
5/24/21 | 4 | |||
5/10/21 | ||||
Filed on: | 5/7/21 | 424B7 | ||
5/4/21 | 4 | |||
5/3/21 | ||||
4/22/21 | ||||
4/15/21 | 4 | |||
4/9/21 | 424B5 | |||
4/8/21 | 8-K | |||
4/7/21 | 424B5, S-3ASR | |||
For Period end: | 3/31/21 | 8-K | ||
3/12/21 | ||||
3/4/21 | ||||
3/1/21 | ||||
2/19/21 | ||||
2/4/21 | ||||
1/13/21 | ||||
1/1/21 | ||||
12/31/20 | 10-K | |||
12/18/20 | ||||
11/13/20 | ||||
11/3/20 | ||||
10/26/20 | ||||
10/5/20 | ||||
10/2/20 | 8-K/A | |||
10/1/20 | ||||
9/10/20 | ||||
3/31/20 | 10-Q | |||
2/28/20 | 8-K | |||
12/31/19 | 10-K, 5 | |||
12/10/19 | 4 | |||
11/14/19 | 8-K | |||
10/25/19 | 4, D | |||
10/18/19 | ||||
10/1/19 | 10-K, 4, 8-K | |||
9/17/19 | 8-K | |||
9/13/19 | ||||
6/21/19 | ||||
4/3/19 | 8-K | |||
3/19/19 | NT 10-K | |||
3/18/19 | 8-K | |||
3/15/18 | 8-K | |||
12/28/17 | 8-K | |||
5/10/16 | 10-Q, 424B5, 8-K | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/16/23 Amyris, Inc. 10-K 12/31/22 150:18M 3/09/22 Amyris, Inc. 10-K 12/31/21 165:21M |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/07/21 Amyris, Inc. S-3ASR 4/07/21 6:871K Donnelley … Solutions/FA |