Products with less attractive margins. In addition ...

 Dear Amyris Shareholders,

We are executing well and have strong momentum in our business with a clear focus on improving the health of our planet by delivering No CompromiseTM products and disrupting markets. These products offer high-performance solutions to our partners' supply chain needs in a world where more and more consumers are demanding better performing, sustainable products delivered by responsible companies.

Our strong performance is enabling the world's leading companies in our target markets to grow sustainably and deliver consumers the best performing products to meet their needs.

We are delivering industry-leading growth and profitability in markets where we have an advantaged position. We've had 100% commercial success with each product we've developed, scaled and commercialized over the last four years. This is unprecedented in our industry and continues to reflect the advantaged business model we've developed in collaboration with our partners. The following three characteristics are driving our collaboration selection criteria and underpinning our product revenue growth momentum:

? Products where the chemistry is complicated and can be better done through biology and fermentation -- we deliver natural, better performing products through a sustainable process.

? Products where we can deliver a 30% or better cost advantage than the average current sources.

? Markets that are experiencing growth at 2X gross domestic product (GDP) or better.

In the first half of 2017, we made the decision to monetize one of our lower margin molecules, farnesene, in certain fields of use while retaining any associated royalties. This led to discussions with our partners and ultimately, we made the decision to license farnesene to Royal DSM for use in two of these fields. During the discussions with DSM, we also made the decision to sell to DSM our Brotas manufacturing facility, which was purpose built for farnesene production for fuels -- a business we're no longer active in. Prior to that, we had been making a variety of products at this plant for which it was not designed to handle. This was not cost effective and had a negative impact on our operating margins. We have now exited bulk commodity manufacturing and plan to continue to review our business to remove

products with less attractive margins. In addition, following the sale of our Brotas production facility, we continue to have a strategic supply relationship with DSM and access to proven contract manufacturers to ensure no disruption in supplying our customers while simultaneously being able to significantly improve our margins.

We also executed several key collaboration partnership agreements with DSM. Overall, these transactions significantly improved our gross margin performance and transitioned our business to profitable growth. Several of these agreements involve key collaboration partnerships on vitamins and nutrition products for animal and human health. This will continue to be one of the strongest growth areas of our business following our entry into the vitamin E market.

We have now simplified our business and are focused on delivering strong, profitable growth across our three core markets -- Health & Wellness, Clean Skin Care, and Flavor & Fragrance Pure Ingredients. These are large growing global markets where we have the technology, partnerships and the product portfolio to disrupt. We believe that delivering No Compromise products will further accelerate a transition to sustainable consumption throughout the world. We are leading this transition in our core markets. We believe our focus on sustainable products that deliver the best performance in their class to consumers was the right first priority. Investing in building this capability has enabled us to create significant distance from our competitors. Our competitors will require significant investment well beyond their current levels to deliver the level of revenue we are now attaining. We continue to believe that doing right for the consumer and our partners with a relentless pursuit of enabling sustainable growth while making better performing products is the right path to long-term profitability.

Our performance in 2017 was supported by our ability to deliver innovative products meeting the needs of our core markets. Our advantaged technology and differentiated product portfolio enabled us to exceed expectations with revenue of $143.4 million. This represented a cumulative aggregate revenue growth rate from 2015 ? 2017 of 105% and has resulted in Amyris having one of the highest revenue growth rates among small-capitalization companies.

2017 Highlights

? Delivered $143.4 million in revenue, up 113% over the prior year.

? Achieved positive cash flow for Q4 2017.

? Reduced debt significantly year over year by over $60 million.

? Launched two new products -- a fragrance and a skin care active.

? Hired a chief operating officer who is already impacting manufacturing and operating efficiencies.

? Improved cost of goods sold and margin with further improvement anticipated.

2017 was a year of solid execution that enabled Amyris to be a sustainable business positioned for profitable growth. We've simplified our business and are focused on executing where we have product and technology leadership. This has led to solid results.

? We delivered our best revenue year to date since exiting the fuels business with Performance Health and Wellness representing about $77 million of our revenue. This core market alone has delivered a cumulative aggregate growth rate of 716% from 2015 ? 2017 and we expect continued strong growth through 2022.

? Our Clean Skin Care business delivered our second strongest growth. In this market our Biossance consumer brand has become one of the fastest growing independent skin care brands in North America. We delivered over 650% growth in retail consumer sales in 2017 and are running at over 300% so far in 2018.

? Our gross margin is expanding at 3X our revenue. We are expecting continued strong growth through 2022 and beyond and have this well underpinned by customer agreements in each of our core markets. And, we are expecting continued strong expansion of our gross margin into 2018 as a result of product mix and the impact of our strategic partnership with DSM.

? Our ability to develop and manufacture new products has improved and become more efficient. For 2017 we set production records in both October and November and the fourth quarter of 2017 was our best production period on record when it comes to manufacturing efficiency.

We are very pleased and grateful to be partnered with the market leaders in each of our core markets and we all share a common belief -- the planet deserves better and we can do better for all. I would like to thank our partners, investors, and hard-working employees for helping make a difference and empowering Amyris to deliver on its goal that one day soon, all products will be made our way.

Best Regards,

John G. Melo President and Chief Executive Officer

FORWARD-LOOKING STATEMENTS

This annual report contains forward-looking statements reflecting our current expectations that involve risks and uncertainties. These forward-looking statements include, but are not limited to, statements concerning our business growth and profitability, future revenue and margin growth and reduction in cost of goods sold, our competitive advantage, our impact on our partners' growth and sustainable consumption globally, and similar matters. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those anticipated or implied in the forward-looking statements, including, without limitation, the risks set forth in Part 1, Item 1A, "Risk Factors" of our enclosed Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and in our other filings with the Securities and Exchange Commission. We do not assume any obligation to update any forward-looking statements, except as required by law.

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