10-K · April 29, 2026
Origin Materials, Inc. has faced significant challenges in the past year, notably missing Q4 2025 EPS estimates with a loss of $3.036 per share and declining revenues, culminating in a substantial liquidity crisis.…
Earnings analysis · 10-Q
ORGN earnings analysis
Filed May 14, 2026 · Our reading of the company's report
The latest report
Origin Materials, Inc. faces significant challenges as it announced a plan for dissolution amid continued financial struggles. The company reported a 91% decline in revenue year-over-year for Q4 2026, driven by cutbacks…
Read full summary
Origin Materials, Inc. faces significant challenges as it announced a plan for dissolution amid continued financial struggles. The company reported a 91% decline in revenue year-over-year for Q4 2026, driven by cutbacks in its supply chain program, alongside a substantial net loss of $17.7 million. Management anticipates further operational cuts and restructuring as it prepares to liquidate assets, raising concerns about its future viability.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-3.036
What stood out
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Revenue Declines Significantly
Total revenue for Q1 2026 was $477,000, a 91% decrease from $5.43 million in Q1 2025.
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Dramatic Rise in General and Admin Expenses
General and administrative expenses surged 26%, increasing to $12.7 million compared to $10.1 million in the prior year.
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Major Workforce Reduction Announced
The company reduced its workforce by approximately 59%, expected to cut annual operating costs by $14 million.
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Losses Remain Substantial
Net loss for Q1 2026 was $17.7 million, a 33% improvement over the $26.4 million loss in Q1 2025.
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Cash Position Challenged
As of March 31, 2026, cash and equivalents were $32.6 million, down from larger amounts in previous periods due to ongoing losses.
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No Further Impairment Charges
For Q1 2026, the company reported no impairment charges, contrasting with a $16.6 million impairment in Q1 2025.
What to watch
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Uncertain Liquidation Outcomes
The effectiveness of the dissolution plan leaves stockholder distributions uncertain based on asset sales and liabilities.
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High Cash Burn Rate
The company incurs significant cash outflows, with $4.9 million used in operating activities for Q1 2026.
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Dependence on Stockholder Approval
Continuation of operations hinges on stockholder approval of the dissolution plan, creating risk if rejected.
Management's outlook
Outlook deferred to earnings press release / call. Overall, future operations remain highly uncertain due to the ongoing dissolution plan.
Earlier filings 4
10-K · March 30, 2026
Origin Materials reports an early commercial milestone (first commercially scalable PET caps placed on store shelves in August 2025) but remains loss-making with severe cash burn and liquidity stress. The filing states…
10-Q · November 13, 2025
Origin reported Q3 revenue of $4.657 million, down 43% year-over-year, with a gross margin of ~3.4% and an operating loss of $16.934 million (operating margin -363.6%), producing a net loss of $16.382 million and EPS of…
10-Q · August 14, 2025
Origin reported Q2 revenue of $5.813 million (down $1.22M or 17% vs Q2 2024) and GAAP net loss of $12.747 million (EPS -$0.09). Management is progressing PET closure commercialization (first line in production Feb 2025;…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.