AMRS - Amyris stock sinks 30% on top and bottom line Q1 misses

Shares of Amyris (NASDAQ:AMRS) are down 30% in Tuesday afternoon trading following Q1 2022 earnings results that missed on the top and bottom lines. The synthetic biotechnology company saw its net loss in the quarter narrow ~62% $110.2M (-$0.34 loss per share, basic) compared to the prior-year period. Amyris (AMRS) was impacted in Q1 2021 from a from a ~$327M loss due to change in fair value of debt. Revenue of $57.7M was a ~67% decline. While Amyris (AMRS) did not provide exact figures for its 2022 outlook, it said consumer revenue is expected to grow more than 150%. Street 2022 revenue consensus estimate is $380.13M. The company ended the quarter with $288M in cash. Read why Seeking Alpha contributor In the Ruff Research considers Amyris (AMRS) a strong buy.

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Amyris stock sinks 30% on top and bottom line Q1 misses