Marrone Bio in Davis reports losses amid surges in revenue

Published: Thursday, Mar. 6, 2014 - 1:56 pm

Record quarterly and annual revenue totals were not enough to override losses at Davis-based Marrone Bio Innovations Inc., a provider of bio-based pest management and plant health products.

Marrone on Thursday reported revenue of about $6 million in last year’s fourth quarter, a 106 percent year-over-year gain. For all of 2013, the company amassed revenue of $14.5 million, an annual gain of 104 percent.

However, the company reported a net loss of $10 million in the final quarter of 2013, compared with a nearly $17.1 million loss the prior year. For all of 2013, the company’s net loss was nearly $28.5 million, compared with a loss of about $38.8 million in 2012.

Marrone, which completed the Sacramento region's first initial public stock offering since 2006 in August last year, focused on its robust revenue growth, building up its financial standing as a public company and it prospects for the future amid recent regulatory approvals of its products internationally.

“Our robust fourth quarter results capped a transformative year … ,” said CEO Pam Marrone. "I am extremely pleased with the progress we have achieved in 2013. We continued to broaden our sales into high value specialty crops, launched into row crops in North America and also extended our commercial reach across the globe.”

The company said it expects 2014 net revenue “to continue to at least double compared to the full year 2013.”

Call The Bee’s Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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