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On Monday, Origin Materials, Inc. held its 2025 annual meeting of stockholders, where a quorum of 59.89% of the common stock was present. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, despite its market capitalization of approximately $102 million. Shareholders voted on three proposals during the virtual meeting, each detailed in the company’s March 24 proxy statement.
The first proposal involved the election of two Class I directors, William J. Harvey and Craig A. Rogerson, to serve until the 2026 annual meeting. Harvey received 35,379,705 votes for and 4,951,564 votes withheld, with 49,173,295 broker non-votes. Rogerson garnered 39,322,629 votes for, 1,008,640 withheld, and the same number of broker non-votes.
The second proposal was to ratify Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This resolution passed with 88,623,632 votes for, 470,735 against, and 410,197 abstentions.
Finally, the third proposal sought a non-binding advisory approval of the compensation paid to the company’s named executive officers. It received 33,343,003 votes for, 3,737,317 against, and 3,250,949 abstentions, with 49,173,295 broker non-votes.
These voting outcomes reflect the collective decisions of Origin Materials’ shareholders regarding the company’s governance and accounting practices. The information is based on an SEC filing. The company’s stock, currently trading at a Price/Book ratio of 0.3, has experienced significant pressure, declining nearly 49% over the past six months. With earnings scheduled for May 13, InvestingPro subscribers can access 13 additional key insights and comprehensive analysis about Origin Materials’ financial health and valuation metrics.
In other recent news, Origin Materials reported a significant beat in its fourth-quarter 2024 earnings, surpassing both earnings per share (EPS) and revenue expectations. The company posted an EPS of -$0.09, better than the forecasted -$0.11, and achieved revenue of $9.2 million, exceeding the anticipated $9.08 million. Despite a year-over-year revenue decrease from $13.1 million, the full-year revenue of $31.3 million fell within the company’s guidance range of $25-35 million. Origin Materials also announced the launch of its first CAPFORmer Line, indicating progress in product innovation, particularly in the caps and closures market. The company plans to deploy additional CAPFORmer lines to enhance its market presence. Additionally, Origin Materials is targeting 2026 revenue between $110-140 million and aims to achieve an EBITDA positive run rate by the end of 2026. The company’s cash balance at the end of 2024 was $103 million, down from $158 million in 2023, reflecting its ongoing investment in growth initiatives. Analysts noted the company’s strategic focus on innovation and expansion, with Fermium Research and Bank of America analysts inquiring about the qualification process for new customers and financial strategies.
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