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May 17 , 2021 danimer scientific A Biotechnology Company Danimer Scientific , a Next Generation Bioplastics Company , Announces First Quarter 2021 Results BAINBRIDGE , Ga .-- ( BUSINESS WIRE ) -- 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 financial results for the quarter ended March 31 , 2021 . " Danimer Scientific remains at the forefront of the bioplastics industry as the premier supplier of PHA biopolymers to blue - chip multinational corporations that are committed to reducing single - use plastic waste , " commented Stephen E. Croskrey , Chief Executive Officer of Danimer . " In the first quarter 2021 , we continued to make progress on our facility expansions , customer application developments and other investments in our operational infrastructure in order to serve the current and long - term demand for our next generation Nodax® technology . We are excited to have announced a multi - year partnership with Mars Wrigley to develop innovative compostable packaging . Looking ahead , we continue to expect that our expansion of production capacity , contracted revenue streams and future efficiencies will collectively fuel the path forward to fulfilling our goal of profitably transforming the bioplastics industry on a global scale . " First Quarter 2021 Financial Highlights • Revenues increased 24 % to $ 13.2 million , compared to the first quarter of 2020 , driven by stronger demand and additional PHA production at the Company's Winchester , Kentucky Phase 1 facility brought on line in 2020. PHA - based products represented 29 % of total revenue compared to 2 % in the first quarter of 2020 . Gross profit of $ 1.5 million , compared to $ 3.2 million in the first quarter of 2020 . Adjusted gross profit¹ was $ 3.9 million , compared to $ 4.1 million in the first quarter of 2020. Adjusted gross margin was 29.2 % , compared to 38.6 % in the first quarter of 2020 , primarily attributable to product mix . In both periods , the average cost per pound of PHA - based products sold was significantly higher than PLA - based products sold and we had only limited PHA manufacturing activities in early 2020 at the Kentucky facility . The average cost per unit sold is expected to improve as PHA production continues to increase and efficiency measures are implemented . Adjusted gross profit excludes stock - based compensation , depreciation and amortization , as well as rent expense .