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Amyris, Inc.
INVESTOR PRESENTATION
September 2020
FORWARD LOOKING STATEMENT
This presentation and oral statements accompanying this presentation contain 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 expected revenue, including revenues from consumer, ingredients, collaboration &
grants, recurring revenue, EBITDA, gross profit, gross margin and operating expenses in 2020, including related growth rates, anticipated
growth for Amyris’s businesses, expected debt reduction in 2020, and expectations regarding Amyris’s financial and operational results
and ability to achieve its business plan in 2020 and beyond. 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 or 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.
NON-GAAP FINANCIAL INFORMATION
This presentation and oral statements accompanying this presentation contain both GAAP and non-GAAP financial information. Amyris
considers non-GAAP financial information to be a helpful measure to assess its operational performance and for financial and operational
decision-making.
Totals in this presentation may not foot due to rounding.
Investor Presentation | September 2020
About Amyris
• Leading synthetic biology portfolio of platform
molecules driving speed to market and enabling deep
strategic partnerships
• ESG-driven high growth Clean Beauty consumer
brands disrupting the beauty space
• Proprietary functional ingredients for flavors and
fragrance, and health and wellness end-markets 56%2019 GROSS MARGIN
(NON-GAAP)
Strong growth prospects driven by consumer megatrends and underpinned by proprietary science
Page 3
64
153
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
FY 2018 FY 2019
FY 2018-2019 Sales
+140%
($ in millions)
Investor Presentation | September 2020
Experienced Leadership Team and Board of Directors
Leadership Team
Board of Directors
Geoffrey Duyk M.D., Ph.D
Partner, Circularis Partners
Philip Eykerman
EVP, Corp Strategy & Acquisitions, DSM
Christoph Goppelsroeder
President and CEO, DSM Nutritional products
Dr. Frank Kung
Founding Member, Vivo Capital
James McCann
Founder and Chairman, 1-800-FLOWERS.COM
John Melo
President & CEO, Amyris
Steve Mills
Former CFO, ADM and Amyris
Carole Piwnica
Director, Sanofi/ Director, Rothschild / Chairman, Arianna S.A.
Patrick Yang Ph.D.
EVP, Juno Therapeutics/SVP Operations Roche/EVP Operations Genentech
Lisa Qi
Director, Daling Family/GM YSL China
Page 4
Investor Presentation | September 2020
Daya Fields
President, Pipette & Purecane
Amyris’ Technology Accelerating
Industry Disruption
Beauty (Skin Care + Baby)
Flavors & Fragrance
Alternative Sweeteners
200
48
$Billion
Addressable Market
Key Technical Metrics
Molecules commercialized per year ~2-4
Number of PhD’s ~85
Number of US and foreign patents
issued and applications pending871
Molecules Manufactured 10
Pipeline of molecules in development 17
9
Growth markets that are accelerated by Consumers push for Health, Clean and Sustainable
• Clean Beauty to become the standard in beauty
• Natural flavors and fragrances is the clear direction
• Alternative sweetener with great taste and mouthfeel is a winner
Page 5
From First Strain to First Pilot Run (2012-2019)
Investor Presentation | September 2020
Serving Attractive Growth Markets
1 Based on preliminary unaudited Q1 2020 performance2 BiossanceTM, PipetteTM, PurecaneTM
3 Flavors and Fragrance, Natural Sweeteners, Personal and Home Care
Sales by Geography
Consumer & Ingredients
Collaboration & Grants
76%
24%
Sales1 Consumer2 36%
Ingredients3 40%
North America
EU and UK
Asia
Latin America
47%
19%
28%
6%
Sales by Category Sales by End Markets
Clean Skin Care
Health
Flavors
Perfumes
Personal and Home Care
39%
24%
29%
4%
4%
Page 6
Sales1 Sales1
Investor Presentation | September 2020
World’s leading synthetic biology platform
The world’s leading synthetic biology platform. Nine commercialized products delivering the most profitable and fastest growing revenue in synthetic biology
High growth Clean Beauty consumer brands
Our Biossance & Pipette Clean Skin Care brands are the fastest growing in North
America – 2019 Revenue of $17m growing >300% YOY
Clean and safe ingredients are more important than ever before
Our growth is accelerating through COVID-19. Consumers are transitioning to
clean and safe ingredients faster than ever and we are a leading supplier with
advantaged technology
Synthetic Biology Driving Growth in Sustainable and Clean Brands
Proprietary functional ingredients
Our ingredients are inside over $10B of consumer purchases sold through 3,000+
of the world’s leading brands – 2019 Revenue of $48M growing >80% YOY
The #1 Supplier of Clean, Sustainable ingredients
to Leading Brands
Owner of the Leading Clean Health and Beauty
Brands in North America
Page 7
Investor Presentation | September 2020
We have defined the Gold Standard for Clean Chemistry
• Product application design at industrial scale delivered in <12 months
• Full cycle clean fermentation produces sustainable molecules at scale
• Fast time to market at low cost. One new yeast strain every 2.5 minutes
• Robotics, automation and machine learning are powering genetic coding. Iteration cycles measured in minutes rather than weeks
Fast Time-to-Market Product Design With End Solution in Mind
Industrialized Synthetic Biology delivery in 12 months
Page 8
Dedicated pipeline:
Automated Scientist and
state-of-the-art robotics
Investor Presentation | September 2020
Platform Molecules Connected Through Market Leaders
• Farnesene
• Patchouli
• Squalane
• Sclareol
• Manool
• Bisabolol
• Fragrance 5*
• Flavor 1*
• Reb M
We Partner with Market Leaders Owned Brands set the Standard
for Consumers#1 Producer of Clean Ingredients
• Amazon
• Amore Pacific
• ASR
• buybuy BABY
• DARPA
• DOE
• Estee Lauder
• Firmenich
• Gates Foundation
• Givaudan
• L’Oreal
• Nikko
• DSM
• Sanofi
• Sephora
• Takasago
• Target
• Walmart
• Yifan
• Shisheido
The #1
Supplier of
Natural and
Sustainably
sourced
Platform
Molecules
• HMO
• Vitamins
• Cannabinoids
EXISTING
PIPELINE
*Confidential products
**Recurring revenue includes all revenue that has a multiyear contract and revenue from our consumer brands
Page 9
On track for third consecutive year of doubling recurring revenue**
Investor Presentation | September 2020
Our Strategic Priorities
1 High growth consumer brands
2Scientific and commercial
collaboration
3 Supply chain optimization
4Improved balance sheet,
earnings and cash flow
• Build on our Clean Beauty market leadership and double sales YOY
• Extend offering of clean and safe ingredients and product
Page 10
• Execute on R&D collaboration programs to scale 3-4 new molecules yearly
• Establish market leadership in sustainable Health and Wellness markets
• Deliver lower unit costs targeting gross margins >60% of sales
• Drive agile and robust supply network to support sales growth
• Reduced balance sheet leverage. Be fully funded to deliver growth
• Deliver on path to sustained cash generation from operational
performance
Driving a multi-faceted agenda to deliver value for consumers, partners and shareholders
Investor Presentation | September 2020
2020 BIOSSANCE IS LEADING THE WAY
Return on Advertising Spend:
Q3 2019: $3.76
Q4 2019: $5.43
Q1 2020: $9.20
Page 11
Investor Presentation | September 2020
Page 12
FOUNDER
We originate from…
SOURCE
We source from…
IDENTITY
We are…
PERSONALITY
We act…
PRODUCT
We make…
BERKELEYBIOTECHNOLOGY
BRAZILIAN SUGARCANE
APPROACHABLE SCIENCE
SELFLESS EDUCATION
CLEAN-ICAL(Equally clinical & clean)
Biossance Brand: DNA Pillars
Investor Presentation | September 2020
BIOSSANCE SAVES OVER2M SHARKS A YEAR
Page 13
1Clean AcademyLeader in Clean Beauty education
2 City Takeover
360 Takeovers, including NYC and LA
3Become the most loyal brand
With the most passionate followers
4 Digital Leadership
Best in class experience, engagement and
platforms
Biossance Brand Key InitiativesSQUALANENATURE’S BEST MOISTURIZER
Investor Presentation | September 2020
15 26 40 6297
127154
194222 237 250
299
2017-Q1 2017-Q2 2017-Q3 2017-Q4 2018-Q1 2018-Q2 2018-Q3 2018-Q4 2019-Q1 2019-Q2 2019-Q3 2019-Q4
2017-2019 CAGR = ~350%
TOTAL # OF BIOSSANCE.COM CUSTOMERS (000’s)
Biossance Key Growth Drivers
Dec 2018 = 104%
June 2019 = 141%
Dec 2019 = 135%
Jan 2020 = 205%2019 YE: in all 460 Sephora NA stores
2020: will participate in Sephora NA’s 100 new store openings
SALESSephora Monthly Productivity*
*Sephora Productivity is how Biossance performs compared to its peers in revenue per square foot per month
113 130240
297 296 255
2017 2019YE2018
EC (17 SKUs) Wall (6SKUs)
DOORSSephora End Caps produces 2-2.5X more retail revenue
Biossance: Traction Across Multiple Channels, In-Store and Online
Page 14
Investor Presentation | September 2020
Launched September 4, 2019
Retail Channel Distribution • EWG Verified™• Leaping Bunny Approved• Dermatologist tested• Pediatrician approved• Hypoallergenic• Nontoxic• Vegan • Synthetic fragrance-free Page 15
Investor Presentation | May 2020
Leading“Clean” Brand
Leading“Conventional” Brand
EWG Verified
Dermatologist Tested
Pediatrician Approved
Hypoallergenic
Vegan
Tear Free
Sulfate Free
PEG Free
Mineral Oil/Petrolatum Free
Synthetic Fragrance Free
Silicone Free
Page 16
Pipette Truly Delivers on Clean Compared To Leading Brands
Investor Presentation | September 2020
Page 17
Pipette Has A Full Offering For Baby, Mom And The Entire Family
Brought new Pipette
branded hand sanitizer to
market in April in 10 days
Investor Presentation | September 2020
COVID-19
• Our first priority is the safety and health of our people, our partners and our communities
• To-date limited impact on demand and our ability to supply
• We are classified as an essential business thus allowed to continue operations
• Consumer brands continued growth trajectory. Our ingredients are formulated in household
cleaning and personal care products
• Consumer focus on cleaning and sustainable ingredients due to COVID-19 driving strong performance
• Lower Clean Beauty sales due to Sephora store closures largely offset by increased ecommerce sales. Consumer
has shifted to internet purchasing
• Introduced new Pipette branded hand sanitizer in April
Page 18
Investor Presentation | September 2020
Page 19
Q2 Financial Highlights
• Recurring Revenue well up versus prior year quarter
• Q2 2019 included $41 million one-off for Vitamin E
• Consumer and Ingredients product sales doubled (+111%) versus Q2 2019
• Consumer revenue tripled with a shift to online; the highest revenue quarter yet
• Earnings were impacted by sales mix and scale-up costs
• Gross margin of 36% impacted by lower share of Collaboration revenue (100% margin contribution) and higher revenue from scale-up products (contributing low margins)
• Cash operating expenses of $43 million were down and lowest in five quarters
• Adjusted EBITDA was down YoY due to one-off Vitamin E income in prior year
• Significantly improved balance sheet
• Reduced and simplified 12/31/2019 debt of $297m to $176m by end of Q2
Recurring revenue of $30 million grew 36% YoY and 23% QoQ
40%DEBT REDUCTION
DURING H1
36%GROSS MARGIN
(NON-GAAP)
+36%YOY RECURRING
REVENUE
EXPENSELOWEST IN 5 QUARTERS
Investor Presentation | September 2020
Recurring Revenue Growth And Continued Portfolio Shift
Page 20
Total Sales Revenue $m
(Recurring vs one-off)
1522
35 3224
30-
41
- 9
5 -
0
0.05
0.1
0.15
0.2
0.25
$0
$10
$20
$30
$40
$50
$60
$70
Q119 Q219 Q319 Q419 Q120 Q220
Sales Revenue ($m) excl one-offs
One-off items ($m)
63
41
29
• Q2 Recurring revenue of $30m showed
continued growth YoY (+36%) and QoQ
(+23%)
• Record quarter in Consumer & Ingredients
with revenue of $26m, up 111% YoY.
Consumer sales tripled YoY from strong
online sales, Ingredients grew 56% YoY
• Strategic portfolio shift continues with more
revenue generated from product sales
(Consumer & Ingredients at 87%) versus
Collaboration programs (13%)
Recurring Revenue $m
Collaboration vs Consumer & Ingredients
12 12
20 20 19
262
10
15 11
5
4
0
0.05
0.1
0.15
0.2
0.25
$0
$5
$10
$15
$20
$25
$30
$35
$40
Q119 Q219 Q319 Q419 Q120 Q220
Consumer & Ingredients ($m) excl one-offs
Collaboration & Grants ($m)
30
15
22
35
24
32
Investor Presentation | September 2020
Significantly Improved Capital Structure
Page 21
12/31/19 03/31/20 06/30/20
Common outstanding 117.7m 163.9m 204.6m
Fully diluted shares 214.2m 252.1m 278.8m
Market capitalization $364m $420m $874m
Total capitalization $661m $629m $1,051m
Capitalization
Breakdown of fully diluted shares 06/30/20
Common outstanding 204.6m
Warrants (details in appendix) 49.5m
Preferred and converts 10.5m
Employee stock plans 14.2m
Fully diluted shares 278.8m
297
209177
$0
$50
$100
$150
$200
$250
$300
$350
12/31/19 03/31/20 6/30/2020
Total Debt($ Millions)
Reduced debt by 40% during H1 2020
Investor Presentation | September 2020
Key Investment Highlights
• The leading Synthetic Biology platform in the world: the fastest, cheapest and most sustainable
approach to high value chemistry for a sustainable planet
• Delivering industry leading growth in the fastest growing and most profitable market segments:
Clean Beauty, Natural Health and Natural Flavor and Fragrance Ingredients
• Significantly improved balance sheet with substantial debt reduction and simplification
• We believe this is the moment to leverage $1.3B investment and 14 years of developing and
scaling technology and our market position to accelerate sector leadership
Page 22
Investor Presentation | September 2020
Make good.
No compromise.
Good for People
Good for the Planet
Good for Business
Page 23
Investor Presentation | September 2020