Origin Materials (ORGN) Q1 2026 earnings summary

Executive summary

• Board approved a plan of complete liquidation and dissolution, subject to stockholder approval, after evaluating strategic alternatives and concluding dissolution is in the best interests of stakeholders.

• Workforce reduced by 59% in May 2026, discontinuing PET closures program and decreasing annual operating expenses by $14 million.

• Management Incentive Plan established to align key employees with asset sale and wind-down process.

Financial highlights

• Revenue for Q1 2026 was $0.5 million, down 91% from $5.4 million in Q1 2025, due to winding down of supply chain activation program.

• Net loss for Q1 2026 was $17.7 million, a 33% improvement from $26.4 million in Q1 2025.

• Cash, cash equivalents, and marketable securities totaled $32.6 million as of March 31, 2026.

• Accumulated deficit reached $305.5 million as of March 31, 2026.

• Net cash used in operating activities was $4.9 million for Q1 2026, compared to $8.4 million in Q1 2025.

Outlook and guidance

• Substantial doubt exists about the ability to continue as a going concern due to insufficient liquidity and the planned dissolution.

• If dissolution is approved, remaining assets will be liquidated and proceeds distributed to stockholders after settling liabilities.