Origin Materials, Inc.

Listed Company

ORGNCIK 0001802457NasdaqNon-AcceleratedSmaller ReportingIndustrial Organic ChemicalsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$18.92M

Net Income

$-249.70M

Total Assets

—

Equity

—

Shares Out

5.50M

Op. Cash Flow

$-32.79M

Business

Origin Materials, Inc. is a technology company that develops and commercializes sustainable material technologies to enable the transition from fossil-based to plant-based carbon feedstocks. It offers PET closures produced on its CapFormer manufacturing platform and furanics-derived intermediates such as CMF and hydrothermal carbon for conversion into polymers, fuels, additives and other materials. The company operates two primary business segments: a PET closures business focused on packaging solutions and a furanics/biomass conversion platform for chemical building blocks. Origin targets global packaging, textile, automotive and industrial markets through direct production, partner manufacturing, licensing and strategic partnerships, with operating sites and pilot facilities in North America.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	19	31	29	0	—
Cost of revenues (exclusive of depreciation and amortization shown separately below)	18	31	24	0	—
Research and development	14	19	21	14	9
General and administrative	39	41	35	24	17
Depreciation and amortization	11	11	3	711,000	544,000
Impairment of assets	196	15	0	—	—
Total operating expenses	260	85	60	39	27
Loss from operations	−259	−85	−55	−39	—
Investment income	4	7	6	9	—
Interest expenses	−123,000	−371,000	−131,000	—	—
(Loss) gain in fair value of derivatives	−15,000	290,000	69,000	−443,000	1
Gain (loss) in fair value of common stock warrants liability	4	−3	30	22	—
Gain (loss) in fair value of earnout liability	2	−703,000	41	85	−75
Gain in fair value of convertible notes	5,000	0	—	—	—
Other expenses, net	−726,000	−939,000	838,000	2	—
Total other income, net	10	2	78	118	−69
Loss before income tax provision	−249	−83	23	79	—
Income tax provision	−621,000	−669,000	1	0	—
Net loss	−250	−84	24	79	42
Unrealized gain on marketable securities	679,000	2	6	−8	−2
Foreign currency translation adjustment	6	−13	4	−7	—
Total other comprehensive income (loss)	6	−11	10	−15	—
Total comprehensive loss	−243	−94	34	64	40
Net loss per share, basic (in dollars per share)	−50.55	−17.54	0.17	0.57	0.42
Net loss per share, diluted (in dollars per share)	−50.55	−17.54	0.17	0.55	0.4
Weighted-average common shares outstanding, basic (in shares)	5	5	140	138	101
Weighted-average common shares outstanding, diluted (in shares)	5	5	143	142	106

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	33	56	76	108	47
Marketable securities	21	47	83	215	397
Accounts receivable net of allowance for credit losses of $828 and $1,230, respectively	13	19	16	0	—
Other receivables	2	3	3	4	3
Inventory	684,000	866,000	912,000	0	—
Prepaid expenses and other current assets	2	2	8	3	4
Land held for sale	9	11	0	—	—
Total current assets	81	139	187	331	451
Property, plant, and equipment, net	73	204	243	154	57
Operating lease right-of-use asset	3	4	4	3	2
Intangible assets, net	32,000	73,000	121,000	160,000	215,000
Deferred tax assets	0	621,000	1	0	—
Other long-term assets	751,000	31	26	5	62,000
Total assets	158	378	462	494	510
Accounts payable	4	3	2	10	2
Accrued expenses	5	3	8	8	973,000
Operating lease liabilities, current	306,000	323,000	367,000	619,000	280,000
Notes payable, short-term	5	4	2	0	—
Convertible notes, net of issuance costs	15	0	—	—	—
Other liabilities, current	231,000	3	918,000	51,000	380,000
Total current liabilities	29	13	13	20	4
Earnout liability	24,000	2	2	43	128
Canadian Government Research and Development Program liability	17	14	7	7	7
Common stock warrants liability	167,000	5	1	31	—
Notes payable, long-term	4	2	3	6	—
Operating lease liabilities	4	4	4	2	1
Other liabilities, long-term	30,000	74,000	8	8	3
Total liabilities	53	40	39	117	207
Commitments and contingencies (See Note 17)	—	—	—	—	—
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 5,173,884 and 4,952,476, issued and outstanding as of December 31, 2025 and 2024, respectively (including 50,000 and 100,000, respectively, of Sponsor Vesting Shares)	15,000	15,000	15,000	14,000	16,000
Additional paid-in capital	402	393	383	371	362
Accumulated deficit	−288	−38	46	22	−57
Accumulated other comprehensive loss	−10	−17	−6	−16	−1
Total stockholders equity	104	338	423	377	304
Total liabilities and stockholders equity	158	378	462	494	510

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	11	11	3	711,000	544,000
Provision for credit losses	744,000	1	0	—	—
Stock-based compensation	9	10	9	7	6
Loss on reserves	0	639,000	0	—	—
Realized loss on marketable securities	228,000	946,000	−1	0	—
Amortization of premium and discount of marketable securities, net	−139,000	−190,000	4	0	—
Change in fair value of convertible notes	−5,000	0	—	—	—
Deferred tax provision	621,000	640,000	−1	0	—
Other non-cash expenses	783,000	518,000	615,000	—	—
Accounts receivable net and other receivables	6	−3	−15	−2	—
Inventory	182,000	46,000	−912,000	0	—
Prepaid expenses and other current assets	−272,000	2	−5	432,000	−4
Other long-term assets	213,000	−5	−13	−5	0
Accounts payable	−1	373,000	909,000	26,000	−395,000
Accrued expenses	2	−4	5	485,000	3
Operating lease liabilities	−311,000	−350,000	−534,000	−572,000	—
Other liabilities, current	−154,000	−1	65,000	−329,000	380,000
Other liabilities, long-term	−43,000	0	38,000	502,000	203,000
Net cash used in operating activities	−33	−51	−60	−26	−22
Purchases of property, plant, and equipment	−30	−9	−102	−84	−12
Proceeds from land held for sale	2	0	—	—	—
Proceeds from sale of property, plant, and equipment	341,000	0	—	—	—
Purchases of marketable securities	−1,068	−1,817	−3,626	−3,823	−2,448
Sales of marketable securities	1,077	1,752	3,605	3,816	2,024
Maturities of marketable securities	18	103	157	180	25
Net cash (used in) provided by investing activities	−1	29	26	89	−412
Payment of notes payable and other liabilities	−6	−5	0	0	−906,000
Proceeds from convertible notes	15	0	—	—	—
Proceeds from Canadian Government Research and Development Program	2	8	0	849,000	543,000
Proceeds from exercise of stock options	253,000	252,000	146,000	399,000	74,000
Net cash provided by financing activities	11	4	146,000	1	479
Effects of foreign exchange rate changes on the balance of cash and cash equivalents held in foreign currencies	−182,000	−480,000	1	−3	−14,000
Net decrease in cash and cash equivalents	−23	−19	−33	61	45
Purchases of fixed assets included in accounts payable and accrued expenses	4	1	2	17	0
Purchases of property, plant, and equipment included in notes payable	7	0	—	—	—
Income taxes payment	0	23,000	129,000	0	—
Interest payment	171,000	2	0	—	—

Filings

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