Amyris Provides Update - Achieves Record Fourth-Quarter 2019 Product Shipments; Clean Beauty Produces Breakout Performance

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Jan 13, 2020, 08:30 ET

EMERYVILLE, Calif., Jan. 12, 2020 /PRNewswire/ -- Amyris, Inc. (Nasdaq: AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today reported record production for the fourth quarter of 2019. In addition, the company's Clean Beauty business continued its breakout performance.

The company executed very well operationally during fourth-quarter 2019 toward meeting its customer product requirements and delivered record recurring sales in 2019 that more than doubled prior year performance. These product volume results were driven by strong market and consumer demand for clean and natural products that are sustainably sourced from fermentation as well as the competitively differentiated high performance of the company's ingredients and products.

"Our team executed very well in producing and shipping record volumes in the fourth quarter and extended our leading role in bringing high performance renewable products to more and more consumers," said John Melo, President and CEO of Amyris. "We are off to an excellent start for 2020 and are particularly pleased by our Clean Beauty performance which is tracking to again more than double sales in 2020. Our January 2019 Biossance results were very strong and, on a comparative basis, already in the first 12 days of January 2020 we are delivering more than 190% growth over last year."

Continued Melo, "Our technology advantage, growth trajectory and reputation as the only company in our sector to have scaled multiple products with commercial success has provided us with opportunities to apply our intellectual property to disrupt markets and fund the business. This positioning is helping provide us greater scale and the means to meet our financing needs with market participants that are familiar with our leadership in synthetic biology. We delivered record volumes to each of our major customers and 8 of our 10 fermentation-based products are now enjoying market leadership. We expect 2020 to be another great year with the very strong potential to once again more than double our recurring revenue and set new records for our current customers while celebrating the commercialization of our first cannabinoids."

About Amyris
Amyris is the integrated renewable products company that is enabling the world's leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products and services across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.

Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical fact could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events, such as the business performance and growth of the company's Clean Beauty products, the expected revenue from products sales in the fourth quarter of 2019 and the anticipated revenue, operational growth and leadership position in 2020. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to Amyris's liquidity and ability to fund operating and capital expenses, risks related to potential delays or failures in development, production and commercialization of products, risks related to Amyris's reliance on third parties, and other risks detailed from time to time in filings Amyris makes with the Securities and Exchange Commission, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Amyris disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events, or otherwise.

Amyris, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.

SOURCE Amyris, Inc.