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  "documentTitle": "Danimer Scientific (DNMR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-04-22 00:00:00",
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      "text": "We believe there is evidence that Danimer’s EBITDA margin projections are overly optimistic based on the margin profiles of both its self-selected peers and chemical/plastic peers.",
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      "text": "Danimer Margin Analysis vs. Peers",
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      "text": "EBITDA margin: 18.0%",
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      "text": "We believe there is evidence that Danimer's EBITDA margin projections are overly optimistic based on the margin profiles of both its self-selected peers and chemical/plastic peers.",
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      "kind": "source-note",
      "text": "Note: Comparable companies based on Danimer's October 2020 investor presentation. Figures based on analysts' consensus as of 4/21/2021. Source: Spruce Point analysis, FactSet, Analysts' estimates, DNMR investor presentation",
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      "kind": "title",
      "text": "Ability To Revolutionize Industries' Margin Profile?",
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      "evidence": "Conclusion and estimates of a 65% downside to DNMR's current share price.",
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