000136591612/312021Q1FALSEP5Y91100013659162021-01-012021-03-31xbrli:shares00013659162021-05-04iso4217:USD00013659162021-03-3100013659162020-12-31iso4217:USDxbrli:shares0001365916us-gaap:ProductMember2021-01-012021-03-310001365916us-gaap:ProductMember2020-01-012020-03-310001365916amrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916amrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916amrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916amrs:GrantsAndCollaborationsMember2020-01-012020-03-3100013659162020-01-012020-03-310001365916us-gaap:PreferredStockMember2020-12-310001365916us-gaap:CommonStockMember2020-12-310001365916us-gaap:AdditionalPaidInCapitalMember2020-12-310001365916us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001365916us-gaap:RetainedEarningsMember2020-12-310001365916us-gaap:NoncontrollingInterestMember2020-12-310001365916amrs:TotalEquityExcludingMezzanineEquityMember2020-12-310001365916amrs:MezzanineEquityCommonStockMember2020-12-310001365916us-gaap:CommonStockMember2021-01-012021-03-310001365916us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310001365916amrs:TotalEquityExcludingMezzanineEquityMember2021-01-012021-03-310001365916us-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-01-012021-03-310001365916us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001365916us-gaap:RetainedEarningsMember2021-01-012021-03-310001365916us-gaap:NoncontrollingInterestMember2021-01-012021-03-310001365916us-gaap:PreferredStockMember2021-03-310001365916us-gaap:CommonStockMember2021-03-310001365916us-gaap:AdditionalPaidInCapitalMember2021-03-310001365916us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001365916us-gaap:RetainedEarningsMember2021-03-310001365916us-gaap:NoncontrollingInterestMember2021-03-310001365916amrs:TotalEquityExcludingMezzanineEquityMember2021-03-310001365916amrs:MezzanineEquityCommonStockMember2021-03-310001365916us-gaap:PreferredStockMember2019-12-310001365916us-gaap:CommonStockMember2019-12-310001365916us-gaap:AdditionalPaidInCapitalMember2019-12-310001365916us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001365916us-gaap:RetainedEarningsMember2019-12-310001365916us-gaap:NoncontrollingInterestMember2019-12-310001365916amrs:TotalEquityExcludingMezzanineEquityMember2019-12-310001365916amrs:MezzanineEquityCommonStockMember2019-12-310001365916us-gaap:CommonStockMember2020-01-012020-03-310001365916us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310001365916amrs:TotalEquityExcludingMezzanineEquityMember2020-01-012020-03-310001365916us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310001365916us-gaap:RetainedEarningsMember2020-01-012020-03-310001365916us-gaap:PreferredStockMember2020-03-310001365916us-gaap:CommonStockMember2020-03-310001365916us-gaap:AdditionalPaidInCapitalMember2020-03-310001365916us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310001365916us-gaap:RetainedEarningsMember2020-03-310001365916us-gaap:NoncontrollingInterestMember2020-03-310001365916amrs:TotalEquityExcludingMezzanineEquityMember2020-03-310001365916amrs:MezzanineEquityCommonStockMember2020-03-3100013659162019-12-3100013659162020-03-310001365916amrs:KoninklijkeDSMNVDSMMember2021-01-012021-03-310001365916amrs:KoninklijkeDSMNVDSMMember2020-01-012020-03-3100013659162010-09-272021-03-310001365916us-gaap:MachineryAndEquipmentMember2021-03-310001365916us-gaap:MachineryAndEquipmentMember2020-12-310001365916us-gaap:LeaseholdImprovementsMember2021-03-310001365916us-gaap:LeaseholdImprovementsMember2020-12-310001365916amrs:ComputerEquipmentAndSoftwareMember2021-03-310001365916amrs:ComputerEquipmentAndSoftwareMember2020-12-310001365916amrs:FurnitureAndOfficeEquipmentVehiclesAndLandMember2021-03-310001365916amrs:FurnitureAndOfficeEquipmentVehiclesAndLandMember2020-12-310001365916us-gaap:ConstructionInProgressMember2021-03-310001365916us-gaap:ConstructionInProgressMember2020-12-310001365916srt:MinimumMember2021-03-310001365916srt:MaximumMember2021-03-31xbrli:pure0001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:ForisConvertibleNoteMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:SeniorConvertibleNotesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916us-gaap:FairValueMeasurementsRecurringMember2021-03-310001365916us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916us-gaap:FairValueMeasurementsRecurringMember2020-12-310001365916amrs:ForisConvertibleNoteMemberamrs:RelatedPartyConvertibleNotesMember2021-03-310001365916amrs:ForisConvertibleNoteMemberamrs:MeasurementInputStockPriceMemberus-gaap:ConvertibleDebtMember2020-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:MeasurementInputDiscountRateMemberus-gaap:ConvertibleDebtMember2020-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:MeasurementInputRiskFreeInterestRateMemberus-gaap:ConvertibleDebtMember2020-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ConvertibleDebtMember2020-03-310001365916amrs:MeasurementInputProbabilityOfChangeInControlMemberamrs:ForisConvertibleNoteMemberus-gaap:ConvertibleDebtMember2020-03-310001365916amrs:ForisConvertibleNoteMember2021-01-012021-03-310001365916amrs:ForisConvertibleNoteMemberus-gaap:ConvertibleDebtMember2021-03-310001365916us-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-03-310001365916amrs:MeasurementInputStockPriceMemberus-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-03-310001365916us-gaap:MeasurementInputDiscountRateMemberus-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-03-310001365916us-gaap:MeasurementInputRiskFreeInterestRateMemberus-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-03-310001365916us-gaap:MeasurementInputPriceVolatilityMemberus-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-03-310001365916amrs:MeasurementInputProbabilityOfChangeInControlMemberus-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-03-310001365916us-gaap:LongTermDebtMember2020-12-310001365916us-gaap:LongTermDebtMember2021-01-012021-03-310001365916us-gaap:LongTermDebtMember2021-03-310001365916us-gaap:FairValueInputsLevel3Memberamrs:DerivativeLiabilityDebtRelatedMember2020-12-310001365916us-gaap:FairValueInputsLevel3Memberamrs:DerivativeLiabilityDebtRelatedMember2021-01-012021-03-310001365916us-gaap:FairValueInputsLevel3Memberamrs:DerivativeLiabilityDebtRelatedMember2021-03-310001365916amrs:WarrantsIssuedInConnectionWithSeptember2019AndNovember2019ShottenfeldNotesMember2020-02-280001365916amrs:WarrantsIssuedInConnectionWithSeptember2019AndNovember2019ShottenfeldNotesMember2020-02-282020-02-280001365916amrs:WarrantsIssuedInConnectionWithSeptember2019AndNovember2019ShottenfeldNotesMember2021-03-310001365916amrs:WarrantsIssuedInConnectionWithSeptember2019AndNovember2019ShottenfeldNotesMember2021-01-012021-03-310001365916srt:MinimumMemberus-gaap:MeasurementInputSharePriceMember2021-03-310001365916srt:MaximumMemberus-gaap:MeasurementInputSharePriceMember2021-03-310001365916srt:MinimumMemberus-gaap:MeasurementInputSharePriceMember2020-12-310001365916srt:MaximumMemberus-gaap:MeasurementInputSharePriceMember2020-12-310001365916srt:MinimumMemberus-gaap:MeasurementInputExercisePriceMember2021-03-310001365916srt:MaximumMemberus-gaap:MeasurementInputExercisePriceMember2021-03-310001365916srt:MinimumMemberus-gaap:MeasurementInputExercisePriceMember2020-12-310001365916srt:MaximumMemberus-gaap:MeasurementInputExercisePriceMember2020-12-310001365916srt:MinimumMemberus-gaap:MeasurementInputPriceVolatilityMember2021-03-310001365916srt:MaximumMemberus-gaap:MeasurementInputPriceVolatilityMember2021-03-310001365916srt:MinimumMemberus-gaap:MeasurementInputPriceVolatilityMember2020-12-310001365916srt:MaximumMemberus-gaap:MeasurementInputPriceVolatilityMember2020-12-310001365916srt:MinimumMemberus-gaap:MeasurementInputRiskFreeInterestRateMember2021-03-310001365916srt:MaximumMemberus-gaap:MeasurementInputRiskFreeInterestRateMember2021-03-310001365916srt:MinimumMemberus-gaap:MeasurementInputRiskFreeInterestRateMember2020-12-310001365916srt:MaximumMemberus-gaap:MeasurementInputRiskFreeInterestRateMember2020-12-310001365916srt:MinimumMemberus-gaap:MeasurementInputExpectedTermMember2021-03-310001365916srt:MaximumMemberus-gaap:MeasurementInputExpectedTermMember2021-03-310001365916srt:MinimumMemberus-gaap:MeasurementInputExpectedTermMember2020-12-310001365916srt:MaximumMemberus-gaap:MeasurementInputExpectedTermMember2020-12-310001365916us-gaap:MeasurementInputExpectedDividendRateMember2021-03-310001365916us-gaap:MeasurementInputExpectedDividendRateMember2020-12-310001365916us-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2020-12-310001365916us-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2020-01-012020-12-310001365916us-gaap:ConvertibleDebtMember2021-03-310001365916us-gaap:ConvertibleDebtMember2021-01-012021-03-310001365916us-gaap:ConvertibleDebtMember2020-12-310001365916us-gaap:ConvertibleDebtMember2020-01-012020-12-310001365916amrs:ForisConvertibleNoteMemberamrs:RelatedPartyConvertibleNotesMember2021-01-012021-03-310001365916amrs:ForisConvertibleNoteMemberamrs:RelatedPartyConvertibleNotesMember2020-12-310001365916amrs:ForisConvertibleNoteMemberamrs:RelatedPartyConvertibleNotesMember2020-01-012020-12-310001365916amrs:RelatedPartyConvertibleNotesMember2021-03-310001365916amrs:RelatedPartyConvertibleNotesMember2021-01-012021-03-310001365916amrs:RelatedPartyConvertibleNotesMember2020-12-310001365916amrs:RelatedPartyConvertibleNotesMember2020-01-012020-12-310001365916us-gaap:LoansPayableMemberamrs:SchottenfeldNotesMember2021-03-310001365916us-gaap:LoansPayableMemberamrs:SchottenfeldNotesMember2021-01-012021-03-310001365916us-gaap:LoansPayableMemberamrs:SchottenfeldNotesMember2020-12-310001365916us-gaap:LoansPayableMemberamrs:SchottenfeldNotesMember2020-01-012020-12-310001365916us-gaap:LoansPayableMemberamrs:NikkoNotesMember2021-03-310001365916us-gaap:LoansPayableMemberamrs:NikkoNotesMember2021-01-012021-03-310001365916us-gaap:LoansPayableMemberamrs:NikkoNotesMember2020-12-310001365916us-gaap:LoansPayableMemberamrs:NikkoNotesMember2020-01-012020-12-310001365916us-gaap:LoansPayableMemberamrs:GinkgoCollaborationNoteMember2021-03-310001365916us-gaap:LoansPayableMemberamrs:GinkgoCollaborationNoteMember2021-01-012021-03-310001365916us-gaap:LoansPayableMemberamrs:GinkgoCollaborationNoteMember2020-12-310001365916us-gaap:LoansPayableMemberamrs:GinkgoCollaborationNoteMember2020-01-012020-12-310001365916us-gaap:LoansPayableMemberamrs:OtherLoansPayableMember2021-03-310001365916us-gaap:LoansPayableMemberamrs:OtherLoansPayableMember2021-01-012021-03-310001365916us-gaap:LoansPayableMemberamrs:OtherLoansPayableMember2020-12-310001365916us-gaap:LoansPayableMemberamrs:OtherLoansPayableMember2020-01-012020-12-310001365916us-gaap:LoansPayableMember2021-03-310001365916us-gaap:LoansPayableMember2021-01-012021-03-310001365916us-gaap:LoansPayableMember2020-12-310001365916us-gaap:LoansPayableMember2020-01-012020-12-310001365916amrs:ForisDebtMemberamrs:RelatedPartyLoanPayableMember2021-03-310001365916amrs:ForisDebtMemberamrs:RelatedPartyLoanPayableMember2021-01-012021-03-310001365916amrs:ForisDebtMemberamrs:RelatedPartyLoanPayableMember2020-12-310001365916amrs:ForisDebtMemberamrs:RelatedPartyLoanPayableMember2020-01-012020-12-310001365916amrs:DSMNoteMemberamrs:RelatedPartyLoanPayableMember2021-03-310001365916amrs:DSMNoteMemberamrs:RelatedPartyLoanPayableMember2021-01-012021-03-310001365916amrs:DSMNoteMemberamrs:RelatedPartyLoanPayableMember2020-12-310001365916amrs:DSMNoteMemberamrs:RelatedPartyLoanPayableMember2020-01-012020-12-310001365916amrs:TheNaxyrisLoanAgreementMemberamrs:RelatedPartyLoanPayableMember2021-03-310001365916amrs:TheNaxyrisLoanAgreementMemberamrs:RelatedPartyLoanPayableMember2021-01-012021-03-310001365916amrs:TheNaxyrisLoanAgreementMemberamrs:RelatedPartyLoanPayableMember2020-12-310001365916amrs:TheNaxyrisLoanAgreementMemberamrs:RelatedPartyLoanPayableMember2020-01-012020-12-310001365916amrs:RelatedPartyLoanPayableMember2021-03-310001365916amrs:RelatedPartyLoanPayableMember2021-01-012021-03-310001365916amrs:RelatedPartyLoanPayableMember2020-12-310001365916amrs:RelatedPartyLoanPayableMember2020-01-012020-12-3100013659162020-01-012020-12-310001365916us-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-02-040001365916us-gaap:ConvertibleDebtMemberamrs:NewSeniorConvertibleNotesDue2022Member2021-02-042021-02-040001365916amrs:SchottenfeldSeptember2019CreditAgreementsMember2021-03-0100013659162021-03-012021-03-010001365916amrs:DSMCreditAgreementMember2017-12-280001365916amrs:DSMCreditAgreementMemberus-gaap:UnsecuredDebtMember2017-12-280001365916amrs:DSMCreditAgreementMember2017-12-282017-12-280001365916amrs:The2019DSMCreditAgreementMemberamrs:DSMInternationalBVMember2019-09-17amrs:installment00013659162019-09-170001365916amrs:DSMCreditAgreementMember2019-09-170001365916amrs:DSMCreditAgreementMemberus-gaap:UnsecuredDebtMember2019-09-170001365916us-gaap:UnsecuredDebtMemberamrs:DSMCreditAgreementMarch2021AmendmentRelatedTo25MillionDollarNoteMember2021-01-012021-03-310001365916us-gaap:UnsecuredDebtMemberamrs:DSMCreditAgreementMarch2021AmendmentMember2021-03-310001365916us-gaap:UnsecuredDebtMemberamrs:DSMCreditAgreementMarch2021AmendmentMember2021-01-012021-03-310001365916amrs:DSMCreditAgreementMemberus-gaap:UnsecuredDebtMember2021-01-012021-03-310001365916amrs:DSMCreditAgreementMemberus-gaap:UnsecuredDebtMember2021-03-310001365916amrs:LoansPayableAndCreditFacilitiesMember2021-03-310001365916amrs:RelatedPartyLoansPayableAndCreditFacilitiesMember2021-03-310001365916amrs:GatesFoundationPurchaseAgreementMember2021-03-310001365916amrs:GatesFoundationPurchaseAgreementMember2021-01-012021-03-310001365916amrs:HighTrailSilverbackWarrantsMember2021-03-310001365916amrs:January2020WarrantExerciseRightSharesMember2021-03-310001365916amrs:April2019PIPEWarrantsMember2021-03-310001365916srt:MinimumMemberamrs:April2019PIPEWarrantsMember2021-03-310001365916srt:MaximumMemberamrs:April2019PIPEWarrantsMember2021-03-310001365916amrs:NaxyrisLSAWarrantsMember2021-03-310001365916amrs:October2019NaxyrisWarrantMember2021-03-310001365916amrs:May20196.50NoteExchangeWarrantsMember2021-03-310001365916amrs:May2017CashWarrantsMember2021-03-310001365916amrs:May2017DilutionWarrantsMember2021-03-310001365916amrs:August2017DilutionWarrantsMember2021-03-310001365916amrs:July2015RelatedPartyDebtExchange3Member2021-03-310001365916amrs:OtherMember2021-03-310001365916amrs:PeriodEndCommonStockWarrantsMember2021-01-012021-03-310001365916amrs:PeriodEndCommonStockWarrantsMember2020-01-012020-03-310001365916amrs:ConvertiblePromissoryNotesMember2021-01-012021-03-310001365916amrs:ConvertiblePromissoryNotesMember2020-01-012020-03-310001365916amrs:StockOptionsToPurchaseCommonStockMember2021-01-012021-03-310001365916amrs:StockOptionsToPurchaseCommonStockMember2020-01-012020-03-310001365916us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-03-310001365916us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-03-310001365916amrs:PeriodEndPreferredSharesMember2021-01-012021-03-310001365916amrs:PeriodEndPreferredSharesMember2020-01-012020-03-310001365916amrs:AprinnovaJVMember2021-03-310001365916us-gaap:ProductMembercountry:US2021-01-012021-03-310001365916country:USamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916country:USamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916country:US2021-01-012021-03-310001365916us-gaap:ProductMembercountry:US2020-01-012020-03-310001365916country:USamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916country:USamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916country:US2020-01-012020-03-310001365916us-gaap:ProductMembersrt:EuropeMember2021-01-012021-03-310001365916srt:EuropeMemberamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916srt:EuropeMemberamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916srt:EuropeMember2021-01-012021-03-310001365916us-gaap:ProductMembersrt:EuropeMember2020-01-012020-03-310001365916srt:EuropeMemberamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916srt:EuropeMemberamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916srt:EuropeMember2020-01-012020-03-310001365916srt:AsiaMemberus-gaap:ProductMember2021-01-012021-03-310001365916srt:AsiaMemberamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916srt:AsiaMemberamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916srt:AsiaMember2021-01-012021-03-310001365916srt:AsiaMemberus-gaap:ProductMember2020-01-012020-03-310001365916srt:AsiaMemberamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916srt:AsiaMemberamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916srt:AsiaMember2020-01-012020-03-310001365916country:BRus-gaap:ProductMember2021-01-012021-03-310001365916country:BRamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916country:BRamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916country:BR2021-01-012021-03-310001365916country:BRus-gaap:ProductMember2020-01-012020-03-310001365916country:BRamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916country:BRamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916country:BR2020-01-012020-03-310001365916amrs:OtherAreaMemberus-gaap:ProductMember2021-01-012021-03-310001365916amrs:OtherAreaMemberamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916amrs:OtherAreaMemberamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916amrs:OtherAreaMember2021-01-012021-03-310001365916amrs:OtherAreaMemberus-gaap:ProductMember2020-01-012020-03-310001365916amrs:OtherAreaMemberamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916amrs:OtherAreaMemberamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916amrs:OtherAreaMember2020-01-012020-03-310001365916us-gaap:ProductMemberamrs:ConsumerMember2021-01-012021-03-310001365916amrs:ConsumerMemberamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916amrs:ConsumerMemberamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916amrs:ConsumerMember2021-01-012021-03-310001365916us-gaap:ProductMemberamrs:ConsumerMember2020-01-012020-03-310001365916amrs:ConsumerMemberamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916amrs:ConsumerMemberamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916amrs:ConsumerMember2020-01-012020-03-310001365916us-gaap:ProductMemberamrs:IngredientCustomerMember2021-01-012021-03-310001365916amrs:IngredientCustomerMemberamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916amrs:IngredientCustomerMemberamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916amrs:IngredientCustomerMember2021-01-012021-03-310001365916us-gaap:ProductMemberamrs:IngredientCustomerMember2020-01-012020-03-310001365916amrs:IngredientCustomerMemberamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916amrs:IngredientCustomerMemberamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916amrs:IngredientCustomerMember2020-01-012020-03-310001365916us-gaap:ProductMemberamrs:ResearchAndDevelopmentCustomerMember2021-01-012021-03-310001365916amrs:ResearchAndDevelopmentCustomerMemberamrs:LicensesAndRoyaltiesMember2021-01-012021-03-310001365916amrs:ResearchAndDevelopmentCustomerMemberamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916amrs:ResearchAndDevelopmentCustomerMember2021-01-012021-03-310001365916us-gaap:ProductMemberamrs:ResearchAndDevelopmentCustomerMember2020-01-012020-03-310001365916amrs:ResearchAndDevelopmentCustomerMemberamrs:LicensesAndRoyaltiesMember2020-01-012020-03-310001365916amrs:ResearchAndDevelopmentCustomerMemberamrs:GrantsAndCollaborationsMember2020-01-012020-03-310001365916amrs:ResearchAndDevelopmentCustomerMember2020-01-012020-03-310001365916amrs:DSMInternationalBVMemberamrs:RenewableProductsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:DSMInternationalBVMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:DSMInternationalBVMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:DSMInternationalBVMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:DSMInternationalBVMemberamrs:RenewableProductsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:DSMInternationalBVMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:DSMInternationalBVMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:DSMInternationalBVMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:RenewableProductsMemberamrs:SephoraMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:SephoraMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:SephoraMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:SephoraMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:RenewableProductsMemberamrs:SephoraMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:SephoraMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:SephoraMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:SephoraMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:YifanMemberamrs:RenewableProductsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:YifanMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:YifanMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:YifanMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:YifanMemberamrs:RenewableProductsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:YifanMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:YifanMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:YifanMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:RenewableProductsMemberamrs:FirmenichMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:FirmenichMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:FirmenichMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:FirmenichMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:RenewableProductsMemberamrs:FirmenichMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:FirmenichMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:FirmenichMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:FirmenichMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:RenewableProductsMemberamrs:GivaudanInternationalSaMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:GivaudanInternationalSaMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:GrantsAndCollaborationsMemberamrs:GivaudanInternationalSaMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:GivaudanInternationalSaMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:RenewableProductsMemberamrs:GivaudanInternationalSaMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:GivaudanInternationalSaMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:GrantsAndCollaborationsMemberamrs:GivaudanInternationalSaMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:GivaudanInternationalSaMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:RenewableProductsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:RenewableProductsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:RenewableProductsMemberamrs:AllOtherCustomersMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:AllOtherCustomersMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:AllOtherCustomersMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:AllOtherCustomersMemberamrs:SignificantRevenueAgreementMember2021-01-012021-03-310001365916amrs:RenewableProductsMemberamrs:AllOtherCustomersMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:AllOtherCustomersMemberamrs:LicensesAndRoyaltiesMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:AllOtherCustomersMemberamrs:GrantsAndCollaborationsMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:AllOtherCustomersMemberamrs:SignificantRevenueAgreementMember2020-01-012020-03-310001365916amrs:RenewableProductsMember2021-01-012021-03-310001365916amrs:RenewableProductsMember2020-01-012020-03-310001365916amrs:DSMInternationalBVMemberamrs:DSMLicenseAgreementMember2021-03-310001365916amrs:DSMInternationalBVMembersrt:MaximumMember2021-01-012021-03-310001365916amrs:DSMInternationalBVMemberamrs:DSMLicenseAgreementMember2021-01-012021-03-310001365916amrs:DSMInternationalBVMemberamrs:DSMLicenseAgreementMemberamrs:FinishedGoodsInventoryMember2021-03-310001365916amrs:DSMInternationalBVMemberamrs:ReceivablesMemberamrs:DSMLicenseAgreementMember2021-03-310001365916amrs:DSMInternationalBVMemberamrs:IntellectualPropertyLicenseMemberamrs:DSMLicenseAgreementMember2021-03-310001365916amrs:DSMInternationalBVMemberus-gaap:LicenseMemberamrs:DSMLicenseAgreementMember2021-01-012021-03-310001365916amrs:DSMInternationalBVMemberamrs:ResearchAndDevelopmentCustomerMemberamrs:DSMPerformanceCollabrationMember2017-12-012017-12-310001365916amrs:DSMInternationalBVMemberamrs:ResearchAndDevelopmentCustomerMemberamrs:DSMPerformanceCollabrationMember2017-12-310001365916amrs:DSMInternationalBVMemberamrs:ResearchAndDevelopmentCustomerMemberamrs:DSMPerformanceCollabrationMember2021-01-012021-03-310001365916amrs:DSMIngredientsCollaborationMemberamrs:DSMInternationalBVMember2021-01-012021-03-310001365916amrs:DSMIngredientsCollaborationMemberamrs:DSMInternationalBVMemberamrs:ResearchAndDevelopmentCustomerMember2021-01-012021-03-310001365916amrs:DSMIngredientsCollaborationMemberamrs:DSMInternationalBVMemberamrs:ResearchAndDevelopmentCustomerMember2020-01-012020-03-310001365916amrs:YifanMemberamrs:GrantsAndCollaborationsMember2021-01-012021-03-310001365916amrs:YifanMemberamrs:GrantsAndCollaborationsMember2021-03-3100013659162021-04-012021-03-3100013659162022-01-012021-03-3100013659162023-01-012021-03-3100013659162024-01-012021-03-310001365916amrs:ForisNotesMemberamrs:RelatedPartyDebtMemberamrs:ForisVenturesLLCMember2021-03-310001365916amrs:ForisNotesMemberamrs:RelatedPartyDebtMemberamrs:ForisVenturesLLCMember2020-12-310001365916amrs:DSMNoteMemberamrs:RelatedPartyDebtMemberamrs:DSMInternationalBVMember2021-03-310001365916amrs:DSMNoteMemberamrs:RelatedPartyDebtMemberamrs:DSMInternationalBVMember2020-12-310001365916amrs:NaxyrisSAMemberamrs:RelatedPartyDebtMemberamrs:NaxyrisNoteMember2021-03-310001365916amrs:NaxyrisSAMemberamrs:RelatedPartyDebtMemberamrs:NaxyrisNoteMember2020-12-310001365916amrs:RelatedPartyDebtMember2021-03-310001365916amrs:RelatedPartyDebtMember2020-12-310001365916amrs:AccountsReceivableUnbilledRelatedPartyMemberamrs:DSMInternationalBVMember2021-03-310001365916amrs:AccountsReceivableUnbilledRelatedPartyMemberamrs:DSMInternationalBVMember2020-12-310001365916amrs:ContractAssetsRelatedPartyMemberamrs:DSMInternationalBVMember2021-03-310001365916amrs:ContractAssetsRelatedPartyMemberamrs:DSMInternationalBVMember2020-12-310001365916amrs:DSMInternationalBVMemberamrs:AccountsPayableAccruedLiabilitiesAndOtherCurrentLiabilitiesMember2021-03-310001365916amrs:DSMInternationalBVMemberamrs:AccountsPayableAccruedLiabilitiesAndOtherCurrentLiabilitiesMember2020-12-310001365916us-gaap:RestrictedStockUnitsRSUMember2020-12-310001365916us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-12-310001365916us-gaap:RestrictedStockUnitsRSUMember2021-01-012021-03-310001365916us-gaap:RestrictedStockUnitsRSUMember2021-03-310001365916us-gaap:CostOfSalesMember2021-01-012021-03-310001365916us-gaap:CostOfSalesMember2020-01-012020-03-310001365916us-gaap:ResearchAndDevelopmentExpenseMember2021-01-012021-03-310001365916us-gaap:ResearchAndDevelopmentExpenseMember2020-01-012020-03-310001365916us-gaap:SellingGeneralAndAdministrativeExpensesMember2021-01-012021-03-310001365916us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-01-012020-03-310001365916us-gaap:EmployeeStockOptionMember2021-03-310001365916us-gaap:EmployeeStockOptionMember2021-01-012021-03-310001365916amrs:A2020EquityIncentivePlanMember2021-03-310001365916amrs:EquityIncentivePlan2010Member2021-03-310001365916amrs:PublicStockOfferingSharesFromSellingStockholdersMemberus-gaap:SubsequentEventMember2021-04-082021-04-080001365916amrs:PublicStockOfferingSharesFromSellingStockholdersMemberus-gaap:SubsequentEventMember2021-04-080001365916amrs:PublicStockOfferingSharesFromAmyrisMemberus-gaap:SubsequentEventMember2021-04-082021-04-080001365916us-gaap:SubsequentEventMember2021-04-080001365916us-gaap:SubsequentEventMember2021-04-082021-04-080001365916amrs:PublicStockOfferingSellingStockholdersUnderUnderwritingAgreementMemberus-gaap:SubsequentEventMember2021-04-082021-04-080001365916amrs:PublicStockOfferingAmyrisUnderUnderwritingAgreementMemberus-gaap:SubsequentEventMember2021-04-082021-04-08

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2021

-OR-
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 001-34885

AMYRIS, INC.
(Exact name of registrant as specified in its charter) 
Delaware
55-0856151
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
Amyris, Inc.
5885 Hollis Street, Suite 100
Emeryville, CA 94608
(510) 450-0761
(Address and telephone number of principal executive offices)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.0001 par value per shareAMRSThe Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
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.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes   No ☒

Shares outstanding of the Registrant's common stock:
Class
Outstanding as of May 4, 2021
Common Stock, $0.0001 par value per share
291,471,055




AMYRIS, INC.
TABLE OF CONTENTS

Page
PART I
Item 1.
Item 2.
Item 3.
Item 4.
PART II
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.



2



PART I
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)
AMYRIS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands, except shares and per share amounts)March 31,
2021
December 31, 2020
Assets
Current assets:
Cash and cash equivalents$143,821 $30,152 
Restricted cash283 309 
Accounts receivable, net of allowance of $154 and $137, respectively
27,036 32,846 
Accounts receivable - related party, net of allowance of $0 and $0, respectively
391 12,110 
Contract assets6,589 4,178 
Contract assets - related party2,000 1,203 
Inventories47,639 42,862 
Deferred cost of products sold - related party5,220 9,801 
Prepaid expenses and other current assets19,246 13,103 
Total current assets252,225 146,564 
Property, plant and equipment, net31,933 32,875 
Deferred cost of products sold, noncurrent - related party9,391 9,939 
Restricted cash, noncurrent961 961 
Recoverable taxes from Brazilian government entities8,680 8,641 
Right-of-use assets under financing leases, net9,296 9,994 
Right-of-use assets under operating leases, net9,333 10,136 
Other assets4,770 3,704 
Total assets$326,589 $222,814 
Liabilities, Mezzanine Equity and Stockholders' Deficit
Current liabilities:
Accounts payable$44,154 $41,045 
Accrued and other current liabilities32,121 30,707 
Financing lease liabilities3,258 4,170 
Operating lease liabilities5,510 5,226 
Contract liabilities6,163 4,468 
Debt, current portion (includes instrument measured at fair value of $54,757 and $53,387, respectively)
55,904 54,748 
Related party debt, current portion 22,689 
Total current liabilities147,110 163,053 
Long-term debt, net of current portion (includes instrument measured at fair value of $0 and $0, respectively)
13,873 26,170 
Related party debt, net of current portion (includes instrument measured at fair value of $0 and $0, respectively)
413,687 159,452 
Operating lease liabilities, net of current portion8,209 9,732 
Derivative liabilities31,384 8,698 
Other noncurrent liabilities22,467 22,754 
Total liabilities636,730 389,859 
Commitments and contingencies
Mezzanine equity: Contingently redeemable common stock5,000 5,000 
Stockholders’ deficit:
Preferred stock - $0.0001 par value, 5,000,000 shares authorized as of March 31, 2021 and December 31, 2020; 8,280 shares issued and outstanding as of March 31, 2021 and December 31, 2020
  
Common stock - $0.0001 par value, 350,000,000 shares authorized as of March 31, 2021 and December 31, 2020; 273,266,917 and 244,951,446 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively
27 24 
Additional paid-in capital2,106,214 1,957,224 
Accumulated other comprehensive loss(49,413)(47,375)
Accumulated deficit(2,377,943)(2,086,692)
Total Amyris, Inc. stockholders’ deficit(321,115)(176,819)
Noncontrolling interest5,974 4,774 
Total stockholders' deficit(315,141)(172,045)
Total liabilities, mezzanine equity and stockholders' deficit$326,589 $222,814 

See the accompanying notes to the unaudited condensed consolidated financial statements.


3



AMYRIS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

Three Months Ended March 31,
(In thousands, except shares and per share amounts)20212020
Revenue:
Renewable products (includes related party revenue of $1,662 and $49, respectively)
$28,179 $17,854 
Licenses and royalties (includes related party revenue of $143,612, and $3,750, respectively)
143,800 5,161 
Grants and collaborations (includes related party revenue of $2,000 and $3,018, respectively)
4,880 6,115 
Total revenue (includes related party revenue of $147,274 and $6,817, respectively)
176,859 29,130 
Cost and operating expenses:
Cost of products sold22,659 11,790 
Research and development23,332 17,126 
Sales, general and administrative37,922 32,014 
Total cost and operating expenses83,913 60,930 
Income (loss) from operations92,946 (31,800)
Other income (expense):
Interest expense(5,813)(15,002)
(Loss) gain from change in fair value of derivative instruments(22,745)3,282 
Loss from change in fair value of debt(326,785)(16,503)
Loss upon extinguishment of debt(27,313)(27,319)
Other (expense) income, net(678)4 
Total other expense, net(383,334)(55,538)
Loss before income taxes and loss from investment in affiliate(290,388)(87,338)
Provision for income taxes(55)(91)
Gain (loss) from investment in affiliate392 (415)
Net loss(290,051)(87,844)
Less: income attributable to noncontrolling interest in Aprinnova(1,200) 
Net loss attributable to Amyris, Inc.(291,251)(87,844)
Less: losses allocated to participating securities2,099 1,087 
Net loss attributable to Amyris, Inc. common stockholders, basic and diluted$(289,152)$(86,757)
Loss per share attributable to common stockholders, basic and diluted$(1.08)$(0.56)
Weighted-average shares of common stock outstanding used in computing loss per share of common stock, basic and diluted267,733,555 155,065,635 

See the accompanying notes to the unaudited condensed consolidated financial statements.


4




AMYRIS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(Unaudited)

Three Months Ended March 31,
(In thousands)20212020
Comprehensive loss:
Net loss$(290,051)$(87,844)
Foreign currency translation adjustment(2,038)(2,549)
Total comprehensive loss(292,089)(90,393)
Income attributable to noncontrolling interest(1,200) 
Comprehensive loss attributable to Amyris, Inc.$(293,289)$(90,393)

See the accompanying notes to the unaudited condensed consolidated financial statements.


5



AMYRIS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT AND MEZZANINE EQUITY
(Unaudited)

Preferred StockCommon Stock
(In thousands, except number of shares)SharesAmountSharesAmountAdditional Paid-in CapitalAccumulated Other Comprehensive LossAccumulated DeficitNoncontrolling InterestTotal Stockholders' DeficitMezzanine Equity - Common Stock
Balances at December 31, 20208,280 $ 244,951,446 $24 1,957,224 $(47,375)$(2,086,692)$4,774 $(172,045)$5,000 
Issuance of common stock and payment of minimum employee taxes withheld upon net share settlement of restricted stock— — 496,341 — (2)— — — (2)— 
Issuance of common stock upon conversion of debt principal, net of 2,600,000 pre-delivery shares returned to Amyris
— — 5,827,164 1 110,574 — — — 110,575 — 
Issuance of common stock upon exercise of stock options— — 377,542 — 1,920 — — — 1,920 — 
Issuance of common stock upon exercise of warrants— — 15,557,480 2 32,217 — — — 32,219 — 
Issuance of common stock upon exercise of warrants - related party— — 6,056,944   — — —  — 
Stock-based compensation— — — — 4,281 — — — 4,281 — 
Foreign currency translation adjustment— — — — (2,038)— — (2,038)— 
Net loss attributable to Amyris, Inc.— — — — — $(291,251)$1,200 (290,051)— 
Balances at March 31, 20218,280 $ 273,266,917 $27 $2,106,214 $(49,413)$(2,377,943)$5,974 $(315,141)$5,000 
Balances at December 31, 20198,280 $ 117,742,677 $12 1,543,668 $(43,804)$(1,755,653)$609 $(255,168)$5,000 
Issuance of common stock and warrants upon conversion of debt principal and accrued interest— — 6,337,594 1 21,259 — — — 21,260 — 
Issuance of common stock in private placement — — 3,484,321 — 10,000 — — — 10,000 — 
Issuance of common stock in private placement - related party— — 10,505,652 1 27,188 — — — 27,189 — 
Issuance of common stock upon exercise of warrants— — 1,160,929 — 3,332 — — — 3,332 — 
Issuance of common stock upon exercise of warrants - related party— — 24,165,166 2 68,763 — — — 68,765 — 
Exercise of common stock rights warrant - related party— — — — 15,000 — — — 15,000 — 
Issuance of common stock right warrant - related party— — — — 8,904 — — — 8,904 — 
Modification of previously issued common stock warrants— — — — 1,286 — — — 1,286 — 
Derecognition of liability warrants to equity— — — — 5,200 — — — 5,200 — 
Issuance of common stock and payment of minimum employee taxes withheld upon net share settlement of restricted stock— — 495,581 — (8)— — — (8)— 
Stock-based compensation— — — — 3,504 — — — 3,504 — 
Foreign currency translation adjustment— — — — — (2,549)— — (2,549)— 
Net loss attributable to Amyris, Inc.— — — — — — (87,844)— (87,844)— 
Balances at March 31, 20208,280 $ 163,891,920 $16 $1,708,096 $(46,353)$(1,843,497)$609 $(181,129)$5,000 

See the accompanying notes to the unaudited condensed consolidated financial statements.


6



AMYRIS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)


7



Three Months Ended March 31,
(In thousands)20212020
Operating activities
Net loss$(290,051)$(87,844)
Adjustments to reconcile net loss to net cash used in operating activities:
(Gain) loss from change in fair value of debt326,785 16,503 
Loss upon extinguishment of debt27,313 27,319 
(Gain) loss from change in fair value of derivative instruments22,745 (3,282)
Stock-based compensation4,281 3,504 
Depreciation and amortization2,114 1,719 
Amortization of right-of-use assets under operating leases750 668 
Accretion of debt discount713 1,292 
(Gain) loss on foreign currency exchange rates408 (109)
Other 42 
(Gain) loss from investment in affiliate(392)415 
Changes in assets and liabilities:
Accounts receivable17,275 (5,209)
Contract assets(3,208)(870)
Inventories(5,686)(4,392)
Deferred cost of products sold - related party5,129 142 
Prepaid expenses and other assets(8,207)(1,430)
Accounts payable4,154 318 
Accrued and other liabilities4,011 4,009 
Lease liabilities(1,185)(1,043)
Contract liabilities1,702 1,873 
Net cash provided by (used in) operating activities108,651 (46,375)
Investing activities
Purchases of property, plant and equipment(2,493)(1,040)
Net cash used in investing activities(2,493)(1,040)
Financing activities
Issuance costs incurred in connection with debt modification(2,500) 
Payment of minimum employee taxes withheld upon net share settlement of restricted stock units(2)(8)
Principal payments on debt(23,196)(6,981)
Principal payments on financing leases(912)(866)
Proceeds from exercise of common stock rights warrant - related party 15,000 
Proceeds from exercises of common stock options1,920  
Proceeds from exercises of warrants32,219 3,332 
Proceeds from exercises of warrants - related party 13,998 
Proceeds from issuance of common and preferred stock in private placement, net of issuance costs 10,000 
Proceeds from issuance of common and preferred stock in private placement, net of issuance costs - related party 15,000 
Proceeds from issuance of debt, net of issuance costs 188 
Net cash provided by financing activities7,529 49,663 
Effect of exchange rate changes on cash, cash equivalents and restricted cash(44)19 
Net increase in cash, cash equivalents and restricted cash113,643 2,267 
Cash, cash equivalents and restricted cash at beginning of period31,422 1,699 
Cash, cash equivalents and restricted cash at end of the period$145,065 $3,966 
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents$143,821 $2,607 
Restricted cash, current283 399 
Restricted cash, noncurrent961 960 
Total cash, cash equivalents and restricted cash$145,065 $3,966 

See the accompanying notes to the unaudited condensed consolidated financial statements.


8



AMYRIS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, Continued
(Unaudited)

Three Months Ended March 31,
(In thousands)20212020
Supplemental disclosures of cash flow information:
Cash paid for interest$3,275 $3,152 
Supplemental disclosures of non-cash investing and financing activities:
Accrued interest added to debt principal$ $1,527 
Derecognition of derivative liabilities to equity upon extinguishment of debt$59 $ 
Derecognition of derivative liabilities upon exercise of warrants$ $5,200 
Exercise of common stock warrants in exchange for debt principal and accrued interest reduction$ $69,918 
Fair value of embedded features in connection with private placement$ $2,962 
Fair value of warrants and embedded features recorded as debt discount in connection with debt issuances$ $188 
Fair value of warrants and embedded features recorded as debt discount in connection with debt issuances - related party$ $747 
Issuance of common stock and warrants upon conversion of debt principal and accrued interest$110,575 $18,333 
Unpaid property, plant and equipment balances in accounts payable and accrued liabilities at end of period$1,121 $1,307 

See the accompanying notes to the unaudited condensed consolidated financial statements.


9



AMYRIS, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


1. Basis of Presentation and Summary of Significant Accounting Policies

As a leading synthetic biotechnology company active in the Clean Health and Beauty markets through our consumer brands and a top supplier of sustainable and natural ingredients, Amyris, Inc. and our subsidiaries (collectively, Amyris or the Company) apply the Company's proprietary Lab-to-Market biotechnology platform to engineer, manufacture and market high performance, natural and sustainably sourced products. The Company does so with the use of computational tools, strain construction tools, screening and analytics tools, and advanced lab automation and data integration. The Company's biotechnology platform enables the Company to rapidly engineer microbes and use them as catalysts to metabolize renewable, plant-sourced sugars into high-value ingredients that the Company manufactures at industrial scale. Through the combination of our biotechnology platform and our industrial fermentation process, the Company has successfully developed, produced and commercialized many distinct molecules.

The accompanying unaudited condensed consolidated financial statements of Amyris, Inc. should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 (the 2020 Form 10-K), from which the condensed consolidated balance sheet as of December 31, 2020 is derived. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the accompanying interim condensed consolidated financial statements do not include all the information and notes required by U.S. GAAP for complete financial statements. The accompanying condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year.

Significant Accounting Policies

Note 1, "Basis of Presentation and Summary of Significant Accounting Policies", to the audited consolidated financial statements in the 2020 Form 10-K includes a discussion of the significant accounting policies and estimates used in the preparation of the Company’s condensed consolidated financial statements. There have been no material changes to the Company's significant accounting policies and estimates during the three months ended March 31, 2021.

Use of Estimates and Judgements

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgements and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and such differences may be material to the condensed consolidated financial statements. Significant estimates and judgements used in these consolidated financial statements are discussed in the relevant


10



accounting policies below or specifically discussed in the Notes to Consolidated Financial Statements where such transactions are disclosed.

Accounting Standards or Updates Recently Adopted

In the three months ended March 31, 2021, the Company adopted these accounting standards or updates:

Accounting for Income Taxes In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). The amendments in ASU 2019-12 simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, Income Taxes. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC Topic 740 by clarifying and amending existing guidance. ASU 2019-12 became effective for the Company in the first quarter of fiscal year 2021. The adoption of this standard did not have any impact on the Company’s condensed consolidated financial statements.

Equity Securities, Equity-method Investments and Certain Derivatives In January 2020, the FASB issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The guidance provides clarification of the interaction of rules for equity securities, the equity method of accounting and forward contracts and purchase options on certain types of securities. ASU 2020-01 became effective for the Company in the first quarter of 2021. The adoption of this standard did not have any impact on the Company’s condensed consolidated financial statements.

Accounting Standards or Updates Not Yet Adopted

Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model which includes historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. ASU 2016-13 also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity's portfolio. ASU 2016-13 will be effective for the Company in the first quarter of 2023. The Company is currently evaluating the impact this standard will have on its consolidated financial statements and related disclosures.

Convertible Debt, and Derivatives and Hedging In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity. ASU 2020-06 will be effective for the Company in the first quarter of 2022. The Company is currently evaluating the amended guidance and the impact on its consolidated financial statements and related disclosures.

2. Balance Sheet Details

Allowance for Doubtful Accounts
(In thousands)Balance at Beginning of YearProvisionsWrite-offs, NetBalance at End of Period
Three months ended March 31, 2021$137 $17 $ $154 
Three months ended March 31, 2020$45 $ $ $45 

Inventories
(In thousands)March 31, 2021December 31, 2020
Raw materials$12,185 $11,800 
Work-in-process8,702 10,760 
Finished goods26,752 20,302 
Inventories$47,639 $42,862 

Deferred cost of products sold - related party


11



(In thousands)March 31, 2021December 31, 2020
Deferred cost of products sold - related party$5,220 $9,801 
Deferred cost of products sold, noncurrent - related party9,391 9,939 
Total $14,611 $19,740 

Amounts reported as "Deferred cost of products sold - related party" are in connection with an agreement with Koninklijke DSM N.V. (DSM) under which DSM will provide capacity for sweetener production at DSM's Brotas, Brazil manufacturing facility through December 2022. Deferred cost of products sold asset is being expensed to cost of products sold on a units of production basis as the Company's sweetener product is sold over the five-year term of the supply agreement. During the three months ended March 31, 2021 and 2020, the Company expensed $1.6 million and $0.1 million, respectively, of the deferred cost of products sold asset to cost of products sold. Inception-to-date amortization through March 31, 2021 totaled $4.9 million.

Prepaid expenses and other current assets
(In thousands)March 31, 2021December 31, 2020
Prepayments, advances and deposits$13,453 $6,637 
Non-inventory production supplies3,364 3,989 
Recoverable taxes from Brazilian government entities1,020 1,063 
Other1,409 1,414 
Total prepaid expenses and other current assets$19,246 $13,103 

Property, Plant and Equipment, Net
(In thousands)March 31, 2021December 31, 2020
Machinery and equipment$49,880 $50,415 
Leasehold improvements44,800 45,197 
Computers and software7,362 6,741 
Furniture and office equipment, vehicles and land3,450 3,507 
Construction in progress7,238 7,250 
112,730 113,110 
Less: accumulated depreciation and amortization(80,797)(80,235)
Property, plant and equipment, net$31,933 $32,875 

During the three months ended March 31, 2021 and 2020, depreciation and amortization expense, including amortization of right-of-use assets under financing leases, was as follows:
Three Months Ended March 31,
(In thousands)20212020
Depreciation and amortization expense$2,114 $1,719 

Leases

Operating Leases

The Company has operating leases primarily for administrative offices, laboratory equipment and other facilities. The operating leases have remaining terms that range from 1 to 5 years, and often include one or more options to renew. These renewal terms can extend the lease term from 1 to 5 years and are included in the lease term when it is reasonably certain that the Company will exercise the option. The operating leases are classified as ROU assets under operating leases on the Company's condensed consolidated balance sheets and represent the Company’s right to use the underlying asset for the lease term. The Company’s obligation to make operating lease payments is included in "Lease liabilities" and "Lease liabilities, net of current portion" on the Company's condensed consolidated balance sheets. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company had $9.3 million and $10.1 million of right-of-use assets as of March 31, 2021 and December 31, 2020, respectively. Operating lease liabilities were $13.7 million and $15.0 million as of March 31, 2021 and December 31, 2020, respectively. During the three


12



ended March 31, 2021 and 2020, respectively, the Company recorded $1.8 million and $1.5 million of operating lease amortization that was charged to expense, of which $0.2 million and $0.3 million was recorded to cost of products sold.

Because the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company has certain contracts for real estate and marketing which may contain lease and non-lease components which it has elected to treat as a single lease component.

Information related to the Company's right-of-use assets and related lease liabilities were as follows:
Three Months Ended March 31,
20212020
Cash paid for operating lease liabilities, in thousands$1,185$1,893
Right-of-use assets obtained in exchange for new operating lease obligations, in thousands$$
Weighted-average remaining lease term2.73.2
Weighted-average discount rate18.0%18.0%

Financing Leases

The Company has financing leases primarily for laboratory and computer equipment. Assets purchased under financing leases are included in "Right-of-use assets under financing leases, net" on the condensed consolidated balance sheets. For financing leases, the associated assets are depreciated or amortized over the shorter of the relevant useful life of each asset or the lease term. Accumulated amortization of assets under financing leases totaled $5.3 million and $4.6 million as of March 31, 2021 and December 31, 2020, respectively.

Maturities of Financing and Operating Leases

Maturities of lease liabilities as of March 31, 2021 were as follows:
Years ending December 31:
(In thousands)
Financing
Leases
Operating
Leases
Total Leases
2021 (Remaining Nine Months)$3,491 $5,644 $9,135 
2022 7,655 7,655 
2023 3,320 3,320 
2024 150 150 
2025   
Total lease payments3,491 16,769 20,260 
Less: amount representing interest(233)(3,050)(3,283)
Total lease liability$3,258 $13,719 $16,977 
Current lease liability$3,258 $5,510 $8,768 
Noncurrent lease liability 8,209 8,209 
Total lease liability$3,258 $13,719 $16,977 

Other Assets
(In thousands)March 31, 2021December 31, 2020
Equity-method investment$3,431 $2,380 
Deposits126 128 
Other1,213 1,196 
Total other assets$4,770 $3,704 



13



Accrued and Other Current Liabilities
(In thousands)March 31, 2021December 31, 2020
Payroll and related expenses$10,540 $8,230 
Accrued interest7,721 9,327 
Contract termination fees5,311 5,344 
Asset retirement obligation(1)
3,003 3,041 
Professional services1,604 994 
Ginkgo partnership payments obligation878 878 
Tax-related liabilities639 656 
Other2,425 2,237 
Total accrued and other current liabilities$32,121 $30,707 
______________
(1)    The asset retirement obligation represents liabilities incurred but not yet discharged in connection with our 2013 abandonment of a partially constructed facility in Pradópolis, Brazil.


Other noncurrent liabilities
(In thousands)March 31, 2021December 31, 2020
Liability for unrecognized tax benefit$7,551 $7,496 
Ginkgo partnership payments obligation, net of current portion7,461 7,277 
Liability in connection with acquisition of equity-method investment7,216 6,771 
Contract liabilities, net of current portion111 111 
Other128 1,099 
Total other noncurrent liabilities$22,467 $22,754 




14



3. Fair Value Measurement

Liabilities Measured and Recorded at Fair Value on a Recurring Basis

The following tables summarize liabilities measured at fair value, and the respective fair value by input classification level within the fair value hierarchy:

(In thousands)March 31, 2021December 31, 2020
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Liabilities
Foris Convertible Note (LSA Amendment)$ $ $379,439 $379,439 $ $ $123,164 $123,164 
Senior Convertible Notes  54,757 54,757   53,387 53,387 
Embedded derivatives bifurcated from debt instruments  188 188   247 247 
Freestanding derivative instruments issued in connection with other debt and equity instruments  31,196 31,196   8,451 8,451 
Total liabilities measured and recorded at fair value$ $ $465,580 $465,580 $ $ $185,249 $185,249 

The Company did not hold any financial assets to be measured and recorded at fair value on a recurring basis as of March 31, 2021 and December 31, 2020. Also, there were no transfers between the levels during the three months ended March 31, 2021 or the year ended December 31, 2020.

The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgements and consider factors specific to the asset or liability. The method of determining the fair value of embedded derivative liabilities is described subsequently in this note. Market risk associated with embedded derivative liabilities relates to the potential reduction in fair value and negative impact to future earnings from a decrease in interest rates.

Changes in fair value of derivative liabilities are presented as gains or losses in the condensed consolidated statements of operations in the line captioned "Gain (loss) from change in fair value of derivative instruments".

Changes in the fair value of debt that is accounted for at fair value are presented as gains or losses in the condensed consolidated statements of operations in the line captioned "Gain (loss) from change in fair value of debt".

Fair Value of Debt — Foris Convertible Note

At March 31, 2021, the contractual outstanding principal of the Foris Convertible Note was $50.0 million, and fair value was $379.4 million. The Company remeasured the fair value of the Foris Convertible Note under a binomial lattice model (which is discussed in further detail below) using the following inputs: (i) $19.10 stock price, (ii) 10% discount yield, (iii) 0.09% risk free interest rate (iv) 45% equity volatility and (v) 5% probability of change in control. The Company assumed that if a change of control event were to occur, it would occur at the end of the calendar year. The Company recorded a loss of $256.3 million related to change in fair value of the Foris Convertible Note for the three months ended March 31, 2021. The most sensitive input to the valuation model is the Company’s stock price in relation to the $3.00 conversion price.

Fair Value of Debt — Senior Convertible Notes

At March 31, 2021, the contractual outstanding principal of the Senior Convertible Notes was $10.0 million, and fair value was $54.8 million. The Company measured the fair value at March 31, 2021 under a binomial lattice model (which is discussed in further detail below) using the following inputs: (i) $19.10 stock price, (ii) 210% discount yield, (iii) 0.02% risk free interest rate (iv) 45% equity volatility, and (v) 0% probability of change in control. The most sensitive input to the valuation model is the Company’s stock price in relation to the $3.50 conversion price.

For the three months ended March 31, 2021, the Company recorded a $70.5 million loss from change in fair value of debt in connection with fair value remeasurement of the Senior Convertible Notes, as follows:


15