Revenue during the quarter plunged 47.43 percent to $8.59 million from $16.34 million in the previous year period. Gross margin for the quarter contracted 3633 basis points over the previous year period to 1.58 percent.

Operating loss for the quarter was $31.57 million, compared with an operating loss of $21.29 million in the previous year period.

"During the third quarter, we continued to execute on our plan, including improving our balance sheet while growing our collaborations pipeline with the signing of a key agreement with DARPA, and we continued to lower our cash costs," said John Melo, Amyris president & chief executive officer. "We also achieved breakthrough fermentation performance with our second fragrance molecule, which we began manufacturing in September and which we expect to make a strong contribution to our fourth-quarter product revenues."

Working capital turns negative
Working capital of Amyris, Inc. has turned negative to $24.14 million on Sep. 30, 2015 from positive $59.37 million on Sep. 30, 2014. Current ratio was at 0.59 as on Sep. 30, 2015, down from 2.36 on Sep. 30, 2014.

Cash conversion cycle (CCC) has decreased to 23 days for the quarter from 122 days for the last year period. Days sales outstanding went down to 23 days for the quarter compared with 45 days for the same period last year.

Days inventory outstanding has decreased to 60 days for the quarter compared with 142 days for the previous year period. At the same time, days payable outstanding went down to 61 days for the quarter from 65 for the same period last year.

Debt comes down
Amyris, Inc. has recorded a decline in total debt over the last one year. It stood at $112.27 million as on Sep. 30, 2015, down 6.11 percent or $7.30 million from $119.57 million on Sep. 30, 2014. Total debt was 83.15 percent of total assets as on Sep. 30, 2015, compared with 46.23 percent on Sep. 30, 2014. Debt to equity ratio was at 0.79 as on Sep. 30, 2015, down from 0.66 as on Sep. 30, 2014.