Marrone Bio Innovations, Inc., an international provider of bio products for the agricultural sector, released an update letter to shareholders from Chief Executive Officer Kevin Helash announcing preliminary financial results for the fourth quarter and fiscal year ended December 31, 2021.
The company founded in Davis, California, would have achieved an increase between 10% and 15% in its total income, during 2021.
“I am pleased to report that fourth quarter 2021 revenues are estimated to reflect growth in the mid-30% range, as compared with fourth quarter 2020 revenues. For the second half of 2021, revenues are estimated to have increased 20+% when compared with revenues in the second half of 2020”, Helash wrote. “On a full year basis, we estimate revenue growth in the low double-digit to mid-teens range for 2021 as compared with 2020, in line with our forecast”. teens.
In 2020, the firm listed in Nasdaq under the nemo MBII, had revenues of US$38,4 million, after rising 31%, with operating expenses of US$40 million.
The CEO added further positive developments in a number of other key financial metrics in 2021. "We expect full-year gross margins for 2021 to be in line with our target of upper 50% range, and full-year operating expenses will be relatively flat compared to last year.”
The letter came some days after the company announced it has relocated its corporate headquarters from Davis, California, to Raleigh, North Carolina, to support the company’s growing presence in markets outside the United States. The move predominantly affects corporate executive positions. Davis will continue to be the hub for the company’s research and development operations, along with a number of support functions.
