Continues Industry Leading Revenue Growth with Strong Margins
EMERYVILLE, Calif., Oct. 10, 2019 /PRNewswire/ -- Amyris, Inc. (AMRS), a leader in the development and production of sustainable products for Health and Clean Beauty, today announced the successful launch of its Pipette brand on Amazon.com.
As of October 3, Pipette was available at Pipettebaby.com, buybuyBABY.com, Amazon.com, and Dermstore.com with very strong early results and significant positive feedback from consumers. By month end, Pipette will be available across all brick-and-mortar buybuyBaby stores nationwide and available on Walmart.com by the end of November. Pipette is expected to drive strong top-line sales performance for Amyris in the fourth quarter and beyond.
To date, Pipette has received hundreds of consumer reviews with 96% of them rating the brand's products at 4 stars or better. Customer testimonials:
"I'm happy I finally found the product that's 100% safe for my daughter, clinically approved and clean. We loved it during our bath and we'll come back and use it again."
"We have used it every night since we got it. Not only does it leave his skin soft and smooth, it isn't super-thick and greasy like Vaseline."
Amyris continues to deliver leading consumer brands powered by the world leading synthetic biology platform. The company is setting the standard for consumers with its No Compromise® sustainable products. Our babies deserve great products on their skin that are safe, natural, sustainably sourced, and at a price that is accessible to all.
"Through the third quarter we have more than doubled product revenue over the same period in 2018. We are on track for about 300% product revenue growth in the fourth quarter over the same period last year," said John Melo, Amyris President and CEO. "Our conservative approach in accounting for new product scale up costs where we mostly capture capex and non direct costs associated with scaling in our cost of goods sold has resulted in an inflated cost of goods year to date, however, our adjusted gross margin continues to be at the high end of our stated 55-65% gross margin range. We have continued our strong growth and gross margin performance beyond the second half of the year and encourage those interested professional writers and business analysts to prudently contact Amyris directly for information. We are happy to share and clarify public information."
Continued Melo, "We are delivering on our promise of doubling recurring revenue or better year on year, maintaining our gross margin between 55-65% and significantly reducing our EBITDA losses by as much as half. The strong financial commitment of our leading shareholders enables us to continue executing on our long-term strategy and maintaining our investment in our technology advantage and market leadership. We are managing our growth with strong margins while remaining focused on having all of our existing outstanding short-term debt, especially convertible debt, resolved by year end and certainly as soon as possible. As the leading synthetic biology company, we have a responsibility to make the world healthier."
Pipette is a clean baby care brand with a mission to give every child the best start. We serve parents who strive to raise more conscious individuals while leaving behind a better planet for their children. With the same passion that led our scientists to ban over 2,000 potentially harmful ingredients from our labs and products, we've made protecting babies our goal by only using the safest, most necessary ingredients from the purest sources. With the most stringent standards of testing and safety, we create the highest quality clean formulations with sustainable packaging. Because we believe that when we make it easy for parents to take care of their little ones, we are taking care of our future and our planet. Pipettebaby.com
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.
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 anticipated availability of Pipette products, expected Pipette sales performance, anticipated Amyris product revenue and product revenue growth, expected Amyris gross margin and EBITDA, and the anticipated resolution of Amyris's outstanding short-term debt. 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, No Compromise, and Pipette are trademarks or registered trademarks of Amyris, Inc. in the U.S. and/or other countries.
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