8-K

United States

Securities and Exchange Commission

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 28, 2022

DANIMER SCIENTIFIC, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-39280	84-1924518
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

140 Industrial Boulevard
Bainbridge, Georgia	39817
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (229) 243-7075

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common stock, $0.0001 par value per share	DNMR	The New York Stock Exchange

Item 2.02 Results of Operations and Financial Condition.

On February 28, 2022, Danimer Scientific, Inc. (“Danimer”) issued a press release announcing its financial results for the fourth quarter and full year ended December 31, 2021. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The press release contains the following non-GAAP measures: “Adjusted EBITDA”, “Adjusted EBITDAR” “Adjusted Gross Profit”, and “Adjusted Gross Margin”. Danimer believes that each of Adjusted EBITDA, Adjusted EBITDAR, Adjusted Gross Profit, and Adjusted Gross Margin are useful to investors in evaluating Danimer’s performance because each measure considers the performance of Danimer’s operations, excluding decisions made with respect to capital investment, financing and other non-recurring charges. Danimer believes these non-GAAP metrics offer additional financial information that, when coupled with the GAAP results and the reconciliation to GAAP results, provides a more complete understanding of its results of operations and the factors and trends affecting its business. The non-GAAP measures are reconciled to comparable GAAP financial measures within the press release. Danimer cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, Danimer’s reported GAAP results. Additionally, Danimer notes that there can be no assurance that the above referenced non-GAAP financial measures are comparable to similarly titled financial measures used by other publicly traded companies.

The information in this Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any filing of Danimer, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing.

Item 7.01 Regulation FD Disclosure

Attached as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference is the form of presentation to be used by Danimer in presentations for certain of its stockholders and other persons. The information in this Item 7.01 of this Current Report on Form 8-K and Exhibit 99.2 attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any filing of Danimer, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing.

Item 9.01 Financial Statements and Exhibits.

d) Exhibits.

Exhibit No.	Description
99.1	Press Release, dated February 28, 2022, reporting financial results for the fourth quarter and year ended December 31, 2021 (furnished only).
99.2	Form of Investor Presentation (furnished only).
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: February 28, 2022

DANIMER SCIENTIFIC, INC.
By:	/s/ John A. Dowdy, III
Name:	John A. Dowdy, III
Title:	Chief Financial Officer

2

EX-99.1

Exhibit 99.1

Danimer Scientific Announces Preliminary Fourth Quarter and Full Year 2021 Results

BAINBRIDGE, GA – February 28, 2022 – Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today its preliminary financial results for the fourth quarter and full year ended December 31, 2021.

Stephen E. Croskrey, Chairman and Chief Executive Officer of Danimer commented, “I am proud of the focused execution by our team and our many accomplishments during 2021 as we conclude our first full year as a public company. During the fourth quarter, we progressed further on our journey to deliver leading solutions for biodegradable packaging and other products which contribute to addressing the global plastic waste crisis, and we continued to ramp up customer deliveries to produce record fourth quarter and full year 2021 revenue.”

Mr. Croskrey continued, “As we move forward, growing commercial scale production of PHA remains the core focus of our business, and I am confident we are on the right path to capture a growing share of PHA demand in the years ahead. Our innovative Nodax-based straws, sold through our converter partners, can already be found in numerous retailers and restaurants across the country such as Bonefish Grill, Burgerville, CVS, Dunkin Donuts, Target, Tropical Smoothie Café, Walmart, and numerous others. We have been able to accomplish this by developing biodegradable products that leverage our unmatched application development expertise, and we have increasingly found that customers are looking for complete biodegradable systems as alternatives to the traditional plastic products they sell, which only increases the magnitude of our long-term opportunity in the years ahead. We have a large addressable market to serve and are excited to bring additional production capacity online in 2022 and beyond.”

ALL AMOUNTS DISCUSSED IN THIS EARNINGS RELEASE ARE PRELIMINARY AND UNAUDITED

Fourth Quarter 2021 Financial Highlights

● Revenues increased 47% to a record $17.7 million compared to the fourth quarter of 2020, primarily driven by strong growth in product revenue due to the scale up of PHA production for Phase 1 of the Kentucky facility brought online in 2020. PHA-based product sales nearly quadrupled year-over-year, expanding to 50% of total revenue compared to 19% in the fourth quarter of 2020.

● Gross profit was $(2.4) million compared to $1.2 million in the fourth quarter of 2020. Adjusted gross profit¹ was $0.4 million compared to $3.5 million in the fourth quarter of 2020. Adjusted gross margin¹ was 2.3% for the fourth quarter of 2021 compared to 28.9% in the fourth quarter of 2020, primarily due to PHA-based product sales becoming a larger portion of our revenue. PHA-based product sales currently have a lower gross margin due to elevated fixed-cost absorption as production scales up at the Kentucky facility.  The Company expects the average cost per unit at its existing facilities to improve as PHA production continues to increase and efficiency measures are implemented. Adjusted gross profit excludes stock-based compensation, depreciation and rent expense.

● Net loss of $12.4 million included a $21.3 million non-cash gain related to the remeasurement of the Company’s private warrants for the fourth quarter of 2021.

● Adjusted EBITDA¹ was $(10.2) million in the fourth quarter of 2021 compared to $(2.3) million in the fourth quarter of 2020, primarily due to decline in gross profit as well as an increase in headcount and salaries to support future expansion plans. The fourth quarter of 2021 also included incremental expenses related to being a public company of $1.0 million, as well as approximately $1.2 million of R&D and operating expenses related to Novomer, which the Company did not incur in the prior year period.

● Adjusted EBITDAR¹, which excludes rent expense primarily associated with the Company’s Kentucky facility and one of the Company’s production facilities in Georgia, was $(9.3) million, compared to $(1.3) million in the prior year quarter.

Full Year 2021 Financial Highlights

● Revenues increased 24% to a record $58.7 million compared to the prior year, driven by strong growth in product revenue due to the scale up of PHA production for Phase 1 of the Kentucky facility brought online in 2020.

● Gross profit was $0.9 million, compared to $11.5 million in the prior year. Adjusted gross profit¹ was $11.0 million compared to $16.6 million in the prior year. Adjusted gross margin¹ was 18.6% for the full year 2021 compared to 35.1% in the full year 2020, primarily due to PHA-based product sales becoming a larger portion of our revenue. PHA-based product sales currently have a lower gross margin due to elevated fixed-cost absorption as production scales up at the Kentucky facility.

● Net loss of $60.1 million included a $27.8 million non-cash gain related to the remeasurement of the Company’s private warrants in 2021.

● Adjusted EBITDA¹ was $(22.6) million, compared to $(3.2) million in the prior year, primarily attributable to the decline in gross profit as well as an increase in headcount and salaries to support future expansion plans. The full year 2021 also included incremental expenses related to being a public company of $4.6 million, as well as approximately $1.9 million of R&D and operating expenses related to Novomer, which the Company did not incur in the prior year.

● Adjusted EBITDAR¹, which excludes rent expense primarily associated with the Company’s Kentucky facility and Georgia production operations, was $(20.1) million, compared to a gain $0.4 million in the prior year.

(1) An explanation of non-GAAP measures disclosed in this release and a reconciliation of these non-GAAP results to comparable GAAP measures are included in the “Non-GAAP Financial Measures” section of the release.

Liquidity and Capital Resources

At December 31, 2021, the Company reported total debt outstanding of $261.3 million net of $10.6 million of unamortized debt issuance fees and cash and cash equivalents of $286.5 million. The Company had 100,687,820 common shares outstanding as of December 31, 2021.

Business Outlook

The Company expects to continue to build out the operational platform and infrastructure needed to support its production capacity expansion and sales growth objectives. The Company expects its Kentucky facility to have a favorable impact to full year 2022 Adjusted EBITDA as it increases capacity and drives operational efficiencies at the expanded facility.

Webcast, Conference Call and 10-K Filing

The Company will host a webcast and conference call on Monday, February 28, 2028, at 5:00 p.m. Eastern time to review fourth quarter of 2021 results, discuss recent events and conduct a question-and-answer session. The live webcast will be available at www.danimerscientific.com in the Investor Relations section. The conference call will also be accessible by dialing 1-877-407-9208 (Domestic) and 1-201-493-6784 (International). A replay of the webcast will be available on the Company’s website.

2

The 2021 annual reporting cycle was the first time the Company was required to comply with Section 404(b) of the Sarbanes-Oxley Act and the accelerated Form 10-K filing deadline for Large Accelerated Filers. During its evaluation process, the Company identified certain material weaknesses in its internal control over financial reporting. The Company believes that any misstatements resulting from these control deficiencies have been corrected prior to releasing these preliminary financial results. But as a result of these findings, the Company needs additional time to complete the compilation of information and finalization of its assessment of the effectiveness of internal control over financial reporting for its consolidated financial statements and related disclosures to be filed as part of the Annual Report on Form 10-K for 2021. To this end, the Company will file a Form 12b-25 with the Securities and Exchange Commission in order to extend the due date of its 2021 Annual Report on Form 10-K for 15 days, as permitted by Rule 12b-25 under the Securities Exchange Act.

About Danimer

Danimer is a pioneer in creating more sustainable, more natural ways to make plastic products. For more than a decade, its renewable and sustainable biopolymers have helped create plastic products that are biodegradable and compostable and return to nature instead of polluting our lands and waters. Danimer’s technology can be found in a vast array of plastic end products that people use every day. Applications for its biopolymers include additives, aqueous coatings, fibers, filaments, films and injection-molded articles, among others. Danimer now holds more than 430 granted patents and pending patent applications in more than 20 countries for a range of manufacturing processes and biopolymer formulations. For more information, visit www.DanimerScientific.com.

Forward-Looking Statements

Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company’s customers; the Company’s ability to implement its business strategy, including, but not limited to, its ability to expand its production facilities and plants to meet customer demand for its products and the timing thereof; risks relating to the uncertainty of the projected financial information with respect to the Company; the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to our products; the Company’s exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Company’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; the ability of our information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology systems or information security systems, or problems with our transitioning to upgraded or replacement systems; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize potential net operating loss carryforwards; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect the Company’s financial results is included from time to time in the Company’s public reports filed with the Securities and Exchange Commission, including the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release. 

Contacts:

Investors

ir@danimer.com

Phone: 229-220-1103

Media

Anthony Popiel
apopiel@daltonagency.com

Phone: 404-876-1309

3

Danimer Scientific, Inc.

Condensed Consolidated Balance Sheets (Preliminary and Unaudited)

	December 31,			December 31,
(in thousands, except share and per share data)	2021			2020
Assets:
Current assets:
Cash and cash equivalents	$	286,487		$	377,581
Accounts receivable, net		17,149			6,605
Other receivables, net		3,836			-
Inventories, net		24,573			13,642
Prepaid expenses and other current assets		4,737			3,089
Contract assets		3,576			1,466
Total current assets		340,358			402,383
Property, plant and equipment, net		316,181			106,795
Intangible assets, net		84,659			1,801
Goodwill		62,649			-
Right-of-use assets		19,240			19,387
Leverage loans receivable		13,408			13,408
Restricted cash		481			2,316
Loan fees		1,397			-
Other assets		224			111
Total assets	$	838,597		$	546,201
Liabilities and Stockholders’ Equity:
Current liabilities:
Accounts payable	$	20,790		$	10,610
Accrued liabilities		18,777			9,220
Unearned revenue and contract liabilities		214			2,455
Current portion of lease liability		3,337			3,000
Current portion of long-term debt, net		357			25,201
Total current liabilities		43,475			50,486
Private warrants liability		9,578			82,860
Long-term lease liability, net		22,693			24,175
Long-term debt, net		260,934			31,386
Deferred income taxes		1,014			-
Other long-term liabilities		638			1,250
Total liabilities	$	338,332		$	190,157
Stockholders’ equity:
Common stock, $0.0001 par value; 200,000,000 shares authorized: 100,687,820 and 84,535,640 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively	$	10		$	8
Additional paid-in capital		619,145			414,819
Accumulated deficit		(118,890	)		(58,783	)
Total stockholders’ equity		500,265			356,044
Total liabilities and stockholders’ equity	$	838,597		$	546,201

4

Danimer Scientific, Inc.

Condensed Consolidated Statements of Operations (Preliminary and Unaudited)

	Three Months Ended December 31,						Years Ended December 31,
(in thousands, except share and per share data)	2021			2020			2021			2020
Revenue:
Products	$	16,054		$	9,688		$	50,769		$	40,692
Services		1,674			2,339			7,980			6,641
Total revenue		17,728			12,027			58,749			47,333
Costs and expenses:
Cost of revenue		20,080			10,818			57,865			35,876
Selling, general and administrative		24,212			10,165			80,004			19,343
Research and development		8,666			2,286			20,270			7,851
(Gain) loss on sale of assets		49			-			82			(9	)
Total costs and expenses		53,007			23,269			158,221			63,061
Loss from operations		(35,279	)		(11,242	)		(99,472	)		(15,728	)
Nonoperating income (expense):
Gain on remeasurement of private warrants		21,332			3,720			27,767			3,720
Interest expense, net		(247	)		(910	)		(763	)		(2,080	)
Gain on forgiveness of debt		-			5,266			1,776			5,266
Loss on loan extinguishment		-			-			(2,604	)		-
Other expense, net		(62	)		(67	)		(44	)		(31	)
Total nonoperating income (expense)		21,023			8,009			26,132			6,875
Loss before income taxes		(14,256	)		(3,233	)		(73,340	)		(8,853	)
Income taxes		1,810			-			13,233			-
Net loss	$	(12,446	)	$	(3,233	)	$	(60,107	)	$	(8,853	)
Basic and diluted net loss per share	$	(0.12	)	$	(0.10	)	$	(0.65	)	$	(0.30	)
Weighted average number of shares used to compute (1)
Basic and diluted net loss per share		100,360,592			32,154,203			93,078,004			29,570,658

(1) 2020 retroactively restated to give effect for reverse acquisition

5

Danimer Scientific, Inc.

Condensed Consolidated Statements of Cash Flows (Preliminary and Unaudited)

	Years Ended
	December 31,
(in thousands)	2021			2020
Cash flows from operating activities:
Net loss	$	(60,107	)	$	(8,853	)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on remeasurement of private warrants		(27,767	)		(3,720	)
Stock-based compensation		55,270			3,645
Depreciation and amortization		11,674			4,609
Deferred income taxes		(13,233	)		-
Loss on write-off of deferred loan costs		1,939			-
Amortization of debt issuance costs and debt discounts		480			1,655
Amortization of right-of-use assets and lease liability		(1,040	)		514
Gain on forgiveness of debt		(1,776	)		(5,266	)
(Gain) loss on disposal of fixed assets		82			(9	)
Other		389			-
Interest incurred but not paid		-			809
Changes in operating assets and liabilities, net of effects of acquisition:
Accounts receivable, net		(10,835	)		(1,600	)
Inventories, net		(9,799	)		(6,604	)
Prepaid expenses and other current assets		(4,336	)		(2,392	)
Contract assets		(2,110	)		(708	)
Other assets		(75	)		5
Accounts payable		2,048			993
Accrued and other long-term liabilities		(1,526	)		5,250
Unearned revenue and contract liabilities		(2,241	)		(2,125	)
Net cash used in operating activities		(62,963	)		(13,797	)
Cash flows from investing activities:
Purchases of property, plant and equipment		(185,411	)		(38,268	)
Acquisition of Novomer, net of cash acquired		(151,179	)		-
Proceeds from sales of property, plant and equipment		422			9
Net cash used in investing activities		(336,168	)		(38,259	)
Cash flows from financing activities:
Proceeds from long-term debt		240,245			4,547
Proceeds from exercise of warrants, net of issuance costs		138,196			-
Proceeds from Business Combination and PIPE offering		-			403,702
Purchase of capped call options		(35,040	)		-
Principal payments on long-term debt		(27,162	)		(1,941	)
Transaction costs related to Business Combination and PIPE offering		-			(21,556	)
Cash paid for debt issuance costs		(10,424	)		(135	)
Employee taxes related to stock-based compensation		(1,728	)		-
Proceeds from exercise of stock options		2,899			5,540
Proceeds from issuance of common stock, net of issuance costs		(890	)		32,518
Proceeds from employee stock purchase plan		106			-
Net cash provided by financing activities		306,202			422,675
Net (decrease) increase in cash and cash equivalents and restricted cash		(92,929	)		370,619
Cash and cash equivalents and restricted cash-beginning of period		379,897			9,278
Cash and cash equivalents and restricted cash-end of period	$	286,968		$	379,897

6

Non-GAAP Financial Measures

This press release includes the non-GAAP financial measures “Adjusted EBITDA”, “Adjusted EBITDAR”, “Adjusted Gross Profit” and “Adjusted Gross Margin”. Danimer management views these metrics as a useful way to look at the performance of its operations between periods and to exclude decisions on capital investment and financing that might otherwise impact the review of profitability of the business based on present market conditions.

Adjusted EBITDA is defined as net income or loss plus net interest expense, income taxes, depreciation and amortization, as adjusted to add back certain charges or gains that Danimer may record each period such as remeasurement of private warrants, stock-based compensation expense, as well as non-recurring charges such as (i) asset disposal gains or losses as well as other significant gains or losses such as debt extinguishments; (ii) legal settlements; or (iii) other discrete non-recurring items. Danimer believes these items are not considered an indicator of ongoing performance. Adjusted EBITDA is not a measure of performance defined in accordance with GAAP. The measure is used as a supplement to GAAP results in evaluating certain aspects of Danimer’s business, as described below.

Adjusted EBITDAR is defined as Adjusted EBITDA plus rent expense.

Adjusted Gross Profit is defined as Gross Profit plus depreciation, stock-based compensation and rent expense.

Adjusted Gross Margin is defined as Adjusted Gross Profit divided by total revenue.

Danimer believes that each of Adjusted EBITDA, Adjusted EBITDAR, Adjusted Gross Profit and Adjusted Gross Margin is useful to investors in evaluating the Company’s performance because each measure considers the performance of the Company’s operations, excluding decisions made with respect to capital investment, financing and other non-recurring charges as outlined in the preceding paragraph. Danimer believes these non-GAAP metrics offers additional financial information that, when coupled with the GAAP results and the reconciliation to GAAP results, provides a more complete understanding of its results of operations and the factors and trends affecting its business.

Adjusted EBITDA, Adjusted EBITDAR,  Adjusted Gross Profit and Adjusted Gross Margin should not be considered as an alternative to net income or loss as an indicator of its performance or as alternatives to any other measure prescribed by GAAP as there are limitations to using such non-GAAP measures. Although Danimer believes that Adjusted EBITDA, Adjusted EBITDAR,  Adjusted Gross Profit and Adjusted Gross Margin may enhance an evaluation of its operating performance based on recent revenue generation and product/overhead cost control because it excludes the impact of prior decisions made about capital investment, financing and other expenses, (i) other companies in Danimer’s industry may define Adjusted EBITDA, Adjusted EBITDAR,  Adjusted Gross Profit and Adjusted Gross Margin differently than Danimer does and, as a result, they may not be comparable to similarly titled measures used by other companies in its industry, and (ii) Adjusted EBITDA, Adjusted EBITDAR,  Adjusted Gross Profit and Adjusted Gross Margin exclude certain financial information that some may consider important in evaluating Danimer’s performance.

Danimer compensates for these limitations by providing disclosure of the differences between Adjusted EBITDA, Adjusted EBITDAR,  Adjusted Gross Profit and Adjusted Gross Margin and GAAP results, including providing a reconciliation to GAAP results, to enable investors to perform their own analysis of Danimer’s operating results.

7

Danimer Scientific, Inc.

Reconciliation of Adjusted EBITDAR and Adjusted EBITDA to Net Loss (Preliminary and Unaudited)

	Three Months  Ended Dec 31,						Twelve Months Ended Dec 31,
	2021			2020			2021			2020
Net Loss	$	(12,446	)	$	(3,233	)	$	(60,107	)	$	(8,853	)
Interest expense, net		247			910			763			2,080
Income taxes		(1,810	)		-			(13,233	)		-
Depreciation and amortization		4,185			1,820			11,674			4,609
Gain on remeasurement of private warrants		(21,332	)		(3,720	)		(27,767	)		(3,720	)
Stock-based compensation		20,055			3,122			55,908			3,645
Loss on loan extinguishment		-			-			2,604			-
Litigation and other legal related		47			-			1,232			-
Transaction related		199			4,017			3,974			4,265
Public company one-time transition costs		561			-			4,024			-
(Gain) loss on sale of assets		49			-			82			(9	)
Gain on forgiveness of debt		-			(5,266	)		(1,776	)		(5,266	)
Other expense, net		62			67			44			31
Adjusted EBITDA(1)	$	(10,182	)	$	(2,283	)	$	(22,578	)	$	(3,218	)
Rent		845			981			2,488			3,620
Adjusted EBITDAR(1)	$	(9,337	)	$	(1,302	)	$	(20,090	)	$	402

(1) Totals may not foot due to rounding

8

Reconciliation of Adjusted Gross Profit to Gross Profit (Preliminary and Unaudited)

	Three Months  Ended Dec 31,						Twelve Months Ended Dec 31,
	2021			2020			2021			2020
Total revenue	$	17,728		$	12,027		$	58,749		$	47,333
Cost of revenue		20,080			10,818			57,865			35,876
Gross Profit (1)		(2,351	)		1,209			884			11,457
Depreciation		2,142			1,567			8,041			3,647
Rent		581			666			1,917			1,402
Stock-based compensation		28			36			109			126
Adjusted Gross Profit (1)	$	400		$	3,478		$	10,951		$	16,631
Adjusted Gross Margin		2.3	%		28.9	%		18.6	%		35.1	%

(1) Totals may not foot due to rounding

9

EX-99.2

Exhibit 99.2

Fourth Quarter & Full Year 2021 Earnings Presentation February 28, 2022

Disclaimer This presentation (“Presentation”) is for informational purposes only . This Presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful . No representations or warranties, express or implied, are given in, or in respect of, this Presentation . To the fullest extent permitted by law in no circumstances will Danimer Scientific, Inc . (the “Company”) or any of its subsidiaries, stockholders, affiliates, representatives, directors, officers, employees, advisers, or agents be responsible or liable for a direct, indirect, or consequential loss or loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith . Industry and market data used in this Presentation have been obtained from third - party industry publications and sources as well as from research reports prepared for other purposes . The Company has not independently verified the data obtained from these sources and cannot assure you of the data’s accuracy or completeness . This data is subject to change . In addition, this Presentation does not purport to be all - inclusive or to contain all of the information that may be required to make a full analysis of investigations as an investor may deem necessary . FORWARD - LOOKING STATEMENTS Please note that in this Presentation, we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward - looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . Forward - looking statements are made based on management’s expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties . The Company cautions that forward - looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward - looking statements . Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward - looking statements in this Presentation include, but are not limited to, the overall level of consumer demand on its products ; general economic conditions and other factors affecting consumer confidence, preferences, and behavior ; disruption and volatility in the global currency, capital, and credit markets ; the financial strength of the Company's customers ; the Company's ability to implement its business strategy, including, but not limited to, its ability to expand its production facilities and plants to meet customer demand for its products and the timing thereof ; risks relating to the uncertainty of the projected financial information with respect to the Company ; the ability of the Company to execute and integrate acquisitions ; changes in governmental regulation, legislation or public opinion relating to its products ; the Company’s exposure to product liability or product warranty claims and other loss contingencies ; disruptions and other impacts to the Company’s business, as a result of the COVID - 19 global pandemic and government actions and restrictive measures implemented in response ; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for its products, in light of disease epidemics and health - related concerns such as the COVID - 19 global pandemic ; the impact that global climate change trends may have on the Company and its suppliers and customers ; the Company's ability to protect patents, trademarks and other intellectual property rights ; any breaches of, or interruptions in, its information systems ; the ability of its information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes ; its ability to properly maintain, protect, repair or upgrade its information technology systems or information security systems, or problems with its transitioning to upgraded or replacement systems ; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception ; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations ; its ability to utilize potential net operating loss carryforwards ; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks . More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10 - K, Quarterly Reports on Form 10 - Q, and Current Reports on Form 8 - K . All forward - looking statements included in this Presentation are based upon information available to the Company as of the date of this Presentation and speak only as of the date hereof . The Company assumes no obligation to update any forward - looking statements to reflect events or circumstances after the date of this presentation . USE OF PROJECTIONS This Presentation contains projected financial information with respect to the Company . Such projected financial information constitutes forward - looking information and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results . The assumptions and estimates underlying such financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive, and other risks and uncertainties . See “Forward - Looking Statements” above . Actual results may differ materially from the results contemplated by the financial forecast information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such forecasts will be achieved . FINANCIAL INFORMATION ; NON - GAAP FINANCIAL MEASURES Some of the financial information and data contained in this Presentation, such as Adjusted EBITDA, Adjusted EBITDAR and Adjusted Gross Profit has not been prepared in accordance with United States generally accepted accounting principles (“GAAP”) . The Company believes these non - GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations . The Company’s management uses these non - GAAP measures for trend analyses and for budgeting and planning purposes . A reconciliation of these non - GAAP financial measures to the closest GAAP measure is included in the Appendix to the Presentation . You should review the Company’s audited financial statements prepared in accordance with GAAP, which are included in its Annual Report on Form 10 - K/A filed with the SEC . TRADEMARKS This Presentation contained trademarks, service marks, trade names, and copyrights of, the Company, and other companies, which are the property of their respective owners . The information contained herein is as of February 28 , 2022 , and does not reflect any subsequent events . 2

Danimer’s Strategic Priorities 3 Expand Capacity to Achieve Scale 1 2 3 4 5 6 Lead with Innovation to Address a Broad Range of Customer Needs Grow Customer Partnerships and Product Volume Commitments Secure Cost - Effective Inputs Attain Favorable Unit Economics to Enhance Margins Enhance Team Capabilities to Support Growth Creating highly profitable business to supply growing unmet need for biodegradable polymers, meeting customer standards while addressing the issue of plastic waste  Increase internal production capacity  Evaluate third party manufacturing and license agreements (Kemira & Hyundai Oilbank collaborations)  Leverage our core competency of formulation and application development  Execute R&D (development agreements) with customers  Technology licensing  Continue negotiating development and supply agreements with global blue - chip customers that secure future demand  Continue to influence global regulatory and legislative initiatives  Canola oil fixed price contracts  Continue to explore alternative feedstocks  Total Corbion collaboration for PLA supply  Increase capacity utilization  Ramp up production of Rinnovo following our Novomer acquisition  Reduce utility costs/chemical usage  Chevron Phillips collaboration for Rinnovo  Deborah McRonald as Chief Corporate Development Officer  Keith Edwards as VP of Business Development  Mike Hajost as CFO  Brad Rogers as VP Technology Development R&D

Expand Capacity: Kentucky Facility Update 4 Facility Expansion Update:  Phase I (Completed 2020): $57mm of construction costs, ~20mm lbs. of Nodax - based finished product, annually  Phase II broke ground in December 2020 with start - up expected in Q2 2022E  ~$128mm in total construction costs expected (~$114mm has been spent as of Q4 2021)  Additional ~45mm lbs. of finished product, bringing total facility to Nodax based finished product of ~65mm lbs. annually  Overall KY operations anticipated to be EBITDA positive in 2022 Construction Progress (February 2022) Fermentation Chiller Building Downstream Processing Extrusion Facility

Expand Capacity: Bainbridge Greenfield Facility Update - Possible Schedule Change 5 Greenfield Facility Overview Commentary Greenfield Rendering  Location of Greenfield site selected in Georgia due to better utilities rates and incentives  Broke ground in November 2021 and civil engineering work is ongoing  Some equipment has been pre - ordered to avoid higher prices, but inflation remains a concern, as does lead time for some items ordered and yet to be ordered  We remain confident that there is ample customer demand for this capacity but we do not want to get caught in supply chain and inflationary unknowns given the cash flow implications  We are looking at possible schedule changes that might mitigate potential cost over - runs and unplanned delays  Recent construction cost estimate moved project spend midpoint from $490m to $556m and top end of range moved from $590mm to $612mm Greenfield Timing ▪ Broke ground November 2021 Capacity ▪ ~125mm lbs. of Nodax - based finished products expected annually CapEx (Revised) ▪ $500 - $612mm

Expand Capacity: PHA - Based Resin Capacity – Pre Rinnovo 6 Kentucky 32.5M lbs of Nodax Georgia Greenfield 62.5M lbs of Nodax Purchased Raw Material 95M lbs Purchased Materials Danimer Danimer 65M lbs of PHA - based resin 125M lbs of PHA - based resin 190M lbs of PHA - based Resin from KY and GA

Expand Capacity: PHA - Based Resin Capacity – Including Rinnovo Plant 7 Kentucky 32.5M lbs of Nodax Georgia Greenfield 62.5M lbs of Nodax Purchased Raw Material 127M lbs Rinnovo Plant 168M lbs of Rinnovo 330M lbs of PHA - based Resin from KY and GA 60M lbs of Standalone Rinnovo (2) Purchased Materials Rinnovo TM 108M lbs 60M lbs (1) (1) Standalone Rinnovo plant materials go through an extruder prior to reaching end customers. (2) Note standalone Rinnovo can be sold and used on its own. Danimer Danimer

Recent Customer Partnerships & Business Development Initiatives 8  R&D agreement with Bacardi to design and develop a PHA based spirit bottle  Joint R&D to design, develop, manufacture and evaluate PHA based resins for individual layers suitable for flexible food packaging Research & Development  Announced a two - year partnership to develop an innovative home compostable packaging  R&D agreement to develop PHA for Nestle’s PureLife water business Commercial Industry Collaboration

2021 ESG Report 9 ALIGNMENT WITH THE U.N. SUSTAINABLE DEVELOPMENT GOALS 1 Notes: 1 - Numbered boxes shown above represent specific UN Sustainability Development Goals.

Q4 & Full Year 2021 Financial Summary 10  PHA increased to 50% of revenue vs 19% in Q4 2020  Costs influenced by: ‒ Elevated fixed - cost absorption at our Kentucky Facility as we scale up production ‒ Investments in headcount and salaries to support future expansion plans ‒ Public company costs ‒ Novomer costs Key Messages Financial Summary Notes: 1 - Adj. Gross Profit, Adj. EBITDAR and Adj. EBITDA are non - GAAP financial measures. See Appendix for reconciliations to nearest GAAP measure. 2 - Totals may not foot due to rounding. ALL AMOUNTS PRELIMINARY AND UNAUDITED $MM 4Q'21 4Q'20 12/31/2021 12/31/2020 Sales $17.7 $12.0 $58.7 $47.3 Adj. Cost of Sales (1) 17.3 8.5 47.8 30.7 Adj. Gross Profit 0.4 3.5 11.0 16.6 R&D (1) 3.8 1.9 9.9 6.5 SG&A (1) 5.9 2.9 21.1 9.8 Adj. EBITDAR ($9.3) ($1.3) ($20.1) $0.4 Rent (2) (0.8) (1.0) (2.5) (3.6) Adj. EBITDA ($10.2) ($2.3) ($22.6) ($3.2) Twelve Months Ended (1) Excludes Stock-Based Compensation, Rent, Depreciation & Amortization and one time items (2) Rent expense primarily results from a sale leaseback agreement associated with the Kentucky facility

Forward Catalysts 11  Continued focus on driving operational costs down as we scale production  Large and growing TAM  Believed to be the only PHA product offering at commercial scale production  Increasing governmental regulations on single - plastic uses  Demand from blue chip multinational customers  Building talent and expertise to have ability to expand capacity while enhancing value proposition with partnerships  Demand from existing customers expected to grow faster than production capacity  Opportunity for rapid expansion to meet market demand  Variety of partnership structures could create capital - light model Large Addressable Market Revenue Upside Margin Upside Expand Capacity New Partnerships for Increased Output  Danimer is in the early stages of a long - term growth opportunity  Global demand vastly increasing for game changing packaging alternatives  Customers are some of the largest brand owners in the world with long term commitments to sustainability

Danimer is a Next Generation Bioplastics Company ` Experienced Leadership Team and Board of Directors with Proven Track Record 6 Significant Tailwinds From Increased Corporate and Legislative Initiatives on Environmental Impact of Global Pollution Crisis 2 Highly Attractive PHA Technology Serves as a Best End - of - Life Solution for Plastics 1 Rapidly Growing Blue Chip Customer Base Driving Demand in Excess of Current Capacity 5 Leading PHA Innovator with Patent Protected Technology and 14 Years of Production Know - How 3 Strong Partnerships with CPG Brands, Including Pepsi and Nestle, and Key Converters such as Wincup and Genpak 4 12

Appendix 13

$MM 4Q'21 4Q'20 12/31/2021 12/31/2020 Net Loss ($12.446) ($3.233) ($60.107) ($8.853) Income tax expense (benefit) ($1.810) $0.000 ($13.233) $0.000 Interest expense, net $0.247 $0.910 $0.763 $2.080 Depreciation and amortization $4.185 $1.820 $11.674 $4.609 Remeasurement of private warrants ($21.332) ($3.720) ($27.767) ($3.720) Stock-based compensation $20.055 $3.122 $55.908 $3.645 Loss on Debt Extinguishment $0.000 $0.000 $2.604 $0.000 Litigation and other legal related $0.047 $0.000 $1.232 $0.000 Transaction related $0.199 $4.017 $3.974 $4.265 Public company one-time transition costs $0.561 $0.000 $4.024 $0.000 Loss (gain) on sale of assets $0.049 $0.000 $0.082 ($0.009) Gain on forgiveness of debt $0.000 ($5.266) ($1.776) ($5.266) Other expense, net $0.062 $0.067 $0.044 $0.031 Adjusted EBITDA ($10.182) ($2.283) ($22.578) ($3.218) Rent $0.845 $0.981 $2.488 $3.620 Adjusted EBITDAR ($9.337) ($1.302) ($20.090) $0.402 Twelve Months Ended EBITDA and EBITDAR Reconciliation 14 Note: Totals may not foot due to rounding. ALL AMOUNTS PRELIMINARY AND UNAUDITED

Adjusted Gross Profit Reconciliation 15 Note: Totals may not foot due to rounding. ALL AMOUNTS PRELIMINARY AND UNAUDITED $MM 4Q'21 4Q'20 12/31/2021 12/31/2020 Total Revenue $17.728 $12.027 $58.749 $47.333 Cost of Revenue $20.080 $10.818 $57.865 $35.876 Gross Profit ($2.351) $1.209 $0.884 $11.457 Depreciation $2.142 $1.567 $8.041 $3.647 Rent $0.581 $0.666 $1.917 $1.402 Stock-based compensation $0.028 $0.036 $0.109 $0.126 Adjusted Gross Profit $0.400 $3.478 $10.951 $16.631 Twelve Months Ended

XML

Cover	Feb. 28, 2022
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 28, 2022
Entity File Number	001-39280
Entity Registrant Name	DANIMER SCIENTIFIC, INC.
Entity Central Index Key	0001779020
Entity Tax Identification Number	84-1924518
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	140 Industrial Boulevard
Entity Address, City or Town	Bainbridge
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	39817
City Area Code	229
Local Phone Number	243-7075
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A Common stock, $0.0001 par value per share
Trading Symbol	DNMR
Security Exchange Name	NYSE
Entity Emerging Growth Company	false