Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: US$0.042 loss per share (down from US$0.019 loss in 1Q 2021). Revenue: US$11.1m (flat on 1Q 2021). Net loss: US$7.60m (loss widened 133% from 1Q 2021). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 140%. Over the next year, revenue is forecast to grow 35%, compared to a 12% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to US$1.38 Down from US$2.28, the current price target is an average from 2 analysts. New target price is 61% above last closing price of US$0.85. The company is forecast to post a net loss per share of US$0.058 next year compared to a net loss per share of US$0.095 last year. Breakeven Date Change • Apr 27
No longer forecast to breakeven The 2 analysts covering Marrone Bio Innovations no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$886.0k in 2023. New consensus forecast suggests the company will make a loss of US$4.10m in 2023. Reported Earnings • Mar 29
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: US$0.095 loss per share (up from US$0.14 loss in FY 2020). Revenue: US$44.3m (up 16% from FY 2020). Net loss: US$16.6m (loss narrowed 18% from FY 2020). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 27%, compared to a 13% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 18
Price target decreased to US$2.14 Down from US$2.43, the current price target is an average from 5 analysts. New target price is 104% above last closing price of US$1.05. Stock is down 55% over the past year. The company is forecast to post a net loss per share of US$0.092 next year compared to a net loss per share of US$0.14 last year. Price Target Changed • Jan 19
Price target decreased to US$2.28 Down from US$2.53, the current price target is an average from 5 analysts. New target price is 211% above last closing price of US$0.73. Stock is down 55% over the past year. The company is forecast to post a net loss per share of US$0.094 next year compared to a net loss per share of US$0.14 last year. Breakeven Date Change • Nov 25
No longer forecast to breakeven The 6 analysts covering Marrone Bio Innovations no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$886.0k in 2023. New consensus forecast suggests the company will make a loss of US$3.96m in 2023. Reported Earnings • Nov 12
Third quarter 2021 earnings released: US$0.028 loss per share (vs US$0.04 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$9.86m (up 12% from 3Q 2020). Net loss: US$4.95m (loss narrowed 18% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Executive Departure • Sep 09
Chief Manufacturing Officer Kevin Hammill has left the company On the 6th of September, Kevin Hammill's tenure as Chief Manufacturing Officer ended after 3.3 years in the role. As of June 2021, Kevin still personally held 207.90k shares (US$345k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.33 years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.017 loss per share (vs US$0.019 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$12.6m (up 3.4% from 2Q 2020). Net loss: US$3.04m (loss widened 5.7% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 18
Price target decreased to US$2.83 Down from US$3.23, the current price target is an average from 5 analysts. New target price is 160% above last closing price of US$1.09. Stock is down 24% over the past year. Reported Earnings • May 15
First quarter 2021 earnings released: US$0.019 loss per share (vs US$0.05 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$11.0m (up 14% from 1Q 2020). Net loss: US$3.26m (loss narrowed 54% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to US$3.29 Up from US$2.87, the current price target is an average from 5 analysts. New target price is 82% above last closing price of US$1.81. Stock is up 150% over the past year. Reported Earnings • Mar 26
Full year 2020 earnings released: US$0.14 loss per share (vs US$0.32 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$38.4m (up 31% from FY 2019). Net loss: US$20.2m (loss narrowed 46% from FY 2019). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Executive Departure • Feb 24
President & CFO James Boyd has left the company On the 18th of February, James Boyd's tenure as President & CFO ended after 3.5 years in the role. As of December 2020, James personally held 109.29k shares (US$137k worth at the time). A total of 2 executives have left over the last 12 months. Executive Departure • Feb 19
President & CFO James Boyd has left the company On the 18th of February, James Boyd's tenure as President & CFO ended after 3.5 years in the role. As of December 2020, James personally held 109.29k shares (US$137k worth at the time). A total of 2 executives have left over the last 12 months. Price Target Changed • Feb 13
Price target raised to US$2.32 Up from US$2.01, the current price target is an average from 6 analysts. The new target price is 13% below the current share price of US$2.65. As of last close, the stock is up 115% over the past year. Is New 90 Day High Low • Feb 03
New 90-day high: US$1.73 The company is up 49% from its price of US$1.16 on 04 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$2.90 per share. Is New 90 Day High Low • Jan 16
New 90-day high: US$1.53 The company is up 33% from its price of US$1.15 on 16 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$2.84 per share. Is New 90 Day High Low • Dec 11
New 90-day high: US$1.34 The company is up 18% from its price of US$1.14 on 11 September 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$8.10 per share. Analyst Estimate Surprise Post Earnings • Nov 11
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 15%. Earnings per share (EPS) exceeded analyst estimates by 41%. Over the next year, revenue is forecast to grow 47%, compared to a 3.3% growth forecast for the Chemicals industry in the US. Reported Earnings • Nov 11
Third quarter 2020 earnings released: US$0.04 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: US$8.83m (up 27% from 3Q 2019). Net loss: US$6.06m (loss narrowed 63% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.