Amyris Inc (NASDAQ: AMRS) reported robust growth of 37% YoY to $177 million in Q1 2021. Its product revenues grew by 47% YoY to $9 million in Q1 2021.
CEO of Amyris, John Melo, said the company achieved significant growth in Q1 2021 from increased revenues of products and the second ingredients transaction. He further said it also significantly lowered its debt position. After Q1, 2021, the company completed the third ingredients transaction.
Derives growth from clean beauty
The market for clean beauty is growing at a fast pace. Amyris derives improved growth from consumer brands and ingredients portfolio. It achieved significant growth from its three strategic transactions.
The three strategic transactions allow Amyris to enter partnership deals to set up industry platforms for fragrance, flavor, and nutrition. Melo said the company maintains a leadership position in bio-manufacturing and delivers higher bio-manufactured products.
Maintains strong order book
Amyris is on track to strengthen its retail locations almost twice and maintains a strong order book for its new brands. The company increased the ingredients in development. It also improved the pipeline by almost 33%.
Forecasts revenues of $2.5 billion in the future
Amyris expects to generate revenues of $2.5 billion in the future from long-term and strategic production alliances with Ingredion and DSM. The company would post total revenues of $400 million in 2021 by combining strategic transactions.
Ropes in Reese Witherspoon as brand ambassador
Amyris appointed Reese Witherspoon as the brand ambassador worldwide for 5 years for Biossance. Reese, the leading scientists in the industry at its disposal, and the Biossance brand team will develop content for engaging health conscious-consumers with educational information on beauty. It achieved an increase of 16% in consumers (total 60%), who bought Biossance since the announcement compared to 44% in the previous week.
Unveils Biossance in China
Amyris expanded Sephora in Australia and North America and unveiled Biossance in China. The company also introduced Pipette in over 600 Target stores across the nation. It established the number one Innovative Baby Bath brand within one month of launch at Target in terms of units and retail sales.
The company will establish a fulfillment center and manufacturing unit in Reno, Nevada, through a partnership accord.