AMYRIS, INC (AMRS) saw its loss narrow to $38.76 million, or $0.14 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $41.92 million, or $0.28 a share. On the other hand, adjusted net loss for the quarter narrowed to $26.04 million, or $0.09 a share from a loss of $33.99 million or $0.19 a share, a year ago.
Revenue during the quarter surged 227.40 percent to $32.24 million from $9.85 million in the previous year period. Gross margin for the quarter period stood at positive 29.41 percent as compared to a negative 14.93 percent for the previous year period.
Operating loss for the quarter was $24.48 million, compared with an operating loss of $63.14 million in the previous year period.
"We are pleased to have completed a record year by more than doubling revenues over 2015, signing on a record level of new global partners and delivering on all of our 2016 strategic milestones," said John Melo, Amyris president & chief executive officer. "With the completion of our portfolio shift to Health and Nutrition and Personal Care and away from Fuel sales we believe we are delivering industry leading growth and positive impact for our customers."
Working capital remains almost stable
Working capital of AMYRIS, INC was negative $40.74 million on Dec. 31, 2016 compared with negative $41.15 million on Dec. 31, 2015. Current ratio was at 0.63 as on Dec. 31, 2016, up from 0.46 on Dec. 31, 2015.
Debt increases substantially
AMYRIS, INC has witnessed an increase in total debt over the last one year. It stood at $228.30 million as on Dec. 31, 2016, up 45.64 percent or $71.54 million from $156.76 million on Dec. 31, 2015. Total debt was 163.22 percent of total assets as on Dec. 31, 2016, compared with 142.25 percent on Dec. 31, 2015.
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