0001802457-24-000068 | 10-Q | XBRL Viewer

Earnout Liability	9 Months Ended
Earnout Liability	Sep. 30, 2024
Earnout Liability Disclosure [Abstract]
Earnout Liability	Earnout Liability As additional consideration for the Merger, within ten business days after the occurrence of a “Triggering Event,” as defined below, the Company shall issue or cause to be issued to each Legacy Origin stockholder a certain number of shares of the Company Class A Common Stock. The number of such shares is equal to the product of (i) the number of shares of Company Common Stock, Company Series A Preferred Stock, Company Series B Preferred Stock, Company Series C Preferred Stock, and the net number of shares of Company Capital Stock that would be issuable in respect of “Vested Company Options” in the event such options were exercised (on a net exercise basis with respect to only the applicable exercise price, immediately prior to the “Closing” and settled in the applicable number of shares of Company Common Stock, rounded down to the nearest whole share) held by such Legacy Origin stockholder as of immediately prior to the “Effective Time”; and (ii) the “Earnout Exchange Ratio” (such issued shares of Artius Class A Common Stock, collectively, the “Earnout Shares”), where “Vested Company Options,” “Closing,” “Effective Time,” and “Earnout Exchange Ratio” have the meanings set forth in the Merger Agreement. The Company cannot be required to issue more than 25,000,000 Earnout Shares in the aggregate. Additionally, such Earnout Shares will also become issuable in the event the Company enters into a definitive agreement with respect to an Artius Sale (as defined in the Merger Agreement) on or before the fifth anniversary of the Closing Date. A Triggering Event is defined as the following: (a)the volume weighted average price of Common Stock (“VWAP”) equaling on exceeding $15.00 for ten consecutive trading days during the three year period following the Closing date of June 25, 2021, ending June 25, 2024; (b)the VWAP equaling or exceeding $20.00 for ten consecutive trading days during the four year period following the Closing date, ending June 25, 2025; or (c)the VWAP equaling or exceeding $25.00 for ten consecutive trading days during the five year period following the Closing date, ending June 25, 2026. A Sponsor Letter Agreement was delivered in connection with the Merger such that 4.5 million of the shares held by Sponsor (“Sponsor Vesting Shares”) shall be subject to forfeiture based on the same vesting requirements as the Earnout Shares. The first Triggering Event was not met by its June 25, 2024 deadline and 1.5 million shares were cancelled. As a result, there were 3.0 million Sponsor Vesting Shares remaining and the value of Sponsor Vesting Shares in the earnout liability balance was reduced accordingly. These shares shall not be transferred prior to the date in which they vest. Dividends and other distributions with respect to Sponsor Vesting Shares shall be set aside by the Company and shall be paid to the Sponsor upon the vesting of such Sponsor Vesting Shares. The Company evaluated the earnout liability under ASC 815-40, Derivatives and Hedging-Contracts in Entity’s Own Equity (“ASC 815-40”), and concluded they do not meet the criteria to be classified in stockholders’ equity. Specifically, there are contingent exercise provisions and settlement provisions that exist. Holders may receive differing amounts of shares depending on the company’s stock price or the price paid in a change of control. All remaining shares would be issuable (or the forfeiture provisions would lapse) upon any change of control involving the Company and all remaining shares would be issuable (or the forfeiture provisions would lapse) upon a bankruptcy or insolvency of the company. This means that settlement is not solely impacted by the share price of the Company (that is, the share price observed in or implied by a qualifying change-in-control event), but also by the occurrence of a qualifying change-in-control event. This causes the arrangement to not be indexed to the Company’s own shares and liability classification is appropriate. The Company records these instruments as liabilities on the unaudited condensed consolidated balance sheets at fair value, with subsequent changes in their respective fair values recognized in earnings at each reporting date. The earnout liability was fair valued using a Monte Carlo open-ended model. The inputs used for the model were a dividend yield of 0% and 0%, volatility of 126% and 108%, and interest rate of 3.68% and 4.04% at September 30, 2024 and December 31, 2023, respectively.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ (36,763)	$ (19,499)	$ (13,913)	$ 30,931	$ (6,464)	$ 9,769	$ (70,175)	$ 34,236

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Leases - Narrative (Details)	Sep. 30, 2024
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	9 years

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net (loss) income	$ (70,175,000)	$ 34,236,000
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	7,946,000	1,055,000
Provision for credit losses	730,000	0
Amortization on right-of-use asset	392,000	458,000
Stock-based compensation	7,776,000	7,031,000
Loss (gain), net on disposal of property, plant, and equipment	16,000	0
Loss on reserves	639,000	0
Impairment of assets	15,170,000	0
Realized loss (gain) on marketable securities	359,000	(1,706,000)
Amortization of premium and discount of marketable securities, net	(172,000)	3,701,000
Change in fair value of derivative	(237,000)	(620,000)
Change in fair value of common stock warrants liability	2,913,000	(27,438,000)
Change in fair value of earnout liability	2,401,000	(39,137,000)
Deferred tax benefit	375,000	0
Changes in operating assets and liabilities:
Accounts receivable and other receivables	(4,256,000)	(8,130,000)
Inventory	(78,000)	(821,000)
Prepaid expenses and other current assets	962,000	(2,703,000)
Other long-term assets	(4,873,000)	(17,954,000)
Accounts payable	(124,000)	2,819,000
Accrued expenses	(3,082,000)	1,707,000
Operating lease liability	(298,000)	(529,000)
Deferred income	0	1,374,000
Other liabilities, current	(1,507,000)	2,846,000
Other liabilities, long-term	0	(2,636,000)
Net cash used in operating activities	(45,123,000)	(46,447,000)
Cash flows from investing activities
Purchases of property, plant, and equipment	(5,117,000)	(90,113,000)
Purchases of marketable securities	(1,518,398,000)	(3,092,218,000)
Sales of marketable securities	1,456,532,000	3,057,700,000
Maturities of marketable securities	86,441,000	129,081,000
Net cash provided by investing activities	19,458,000	4,450,000
Cash flows from financing activities
Payment of notes payable	(4,793,000)	0
Proceeds from Canadian Government Research and Development Program	8,097,000	0
Proceeds from exercise of stock options	245,000	145,000
Net cash provided by financing activities	3,549,000	145,000
Effects of foreign exchange rate changes on the balance of cash and cash equivalents, and restricted cash held in foreign currencies	3,010,000	(390,000)
Net decrease in cash and cash equivalents, and restricted cash	(19,106,000)	(42,242,000)
Cash and cash equivalents, and restricted cash, beginning of the period	75,502,000	108,348,000
Cash and cash equivalents, and restricted cash, end of the period	56,396,000	66,106,000
Supplemental disclosure of cash flow information
Operating lease right-of-use assets obtained in exchange for lease obligations	0	2,302,000
Stock-based compensation capitalized into property, plant, and equipment	0	2,048,000
Purchases of fixed assets included in accounts payable and accrued expenses	66,000	6,182,000
Cash paid during the period:
Income taxes payment	23,000	129,000
Interest payment	$ 1,708,000	$ 0

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments During the third quarter 2024, the Company entered into multiple purchase agreements with various vendors to purchase equipment to fulfill a near-term demand for our PET caps and closures. Pursuant to the agreements, the Company committed to purchase the equipment with installment payments. The Company made payments totaling of $2.8 million as of September 30, 2024 and recorded the amount in property, plant, and equipment, net on the unaudited condensed consolidated balance sheets. The Company is obligated to make additional payments toward the remaining balances of up to approximately $9.1 million subject to the achievement of certain milestones. In April 2023, the Company entered into an agreement for conversion of materials produced by Origin 1 into certain derivatives. Pursuant to the agreement, the Company agreed to purchase conversion services for a certain minimum quantity of product on a take-or-pay basis for a term of 5 years beginning in 2025 for an aggregate total cost of $33.0 million. Accordingly the Company is obligated to purchase not less than $5.0 million during 2025 and a minimum of $7.0 million each of 2026 through 2029. The Company made advance payments totaling $16.6 million to the counterparty through September 30, 2024, which is included in the foregoing aggregate total, and the agreement provides for the Company to be fully reimbursed for the advance payments in the form of a discount on conversion services over the term. The agreement gives the Company the right, but not the obligation, to purchase conversion services for an additional quantity of product in 2024 and stipulates a reduction in the take-or-pay commitment under certain circumstances including the counterparty’s inability to meet the required product specification. The agreement automatically renews for an additional year unless either party gives advance notice of an intention not to renew. In addition, either party may terminate the agreement in the event of the other party’s insolvency or breach of a material term. The Company recorded the advance payments in other long-term assets on the unaudited condensed consolidated balance sheets. In February 2023, the Company entered into a nonexclusive patent license agreement for use in connection with production at a specific licensed facility. The license expires upon cessation of production at that facility. The Company made a nonrefundable $5.0 million deposit in 2022 toward securing the license and, as a result of signing the license agreement, made an additional nonrefundable payment of $7.9 million during 2023 and may make additional payments depending on the achievement of certain milestones. The total payment is included in other long-term assets on the unaudited condensed consolidated balance sheets. In connection with this license, the Company entered into a conditional offtake agreement under which the licensor will supply the Company with a certain amount of the same type of products to be produced at the licensed facility in order to accelerate market development for these products and related applications. In July 2017, the Company entered into a nonexclusive patent license agreement for $0.1 million, which expires upon expiration of the last to expire of the licensed patents. Under this agreement, the Company will pay less than $0.1 million minimum royalty payments per year and, if the Company develops and sells certain products based on the licensed patents. Certain products that Origin is currently developing and anticipates selling are expected to utilize these patents. In December 2016, the Company entered into a patent license agreement for $0.5 million, which expires upon expiration of the last to expire of the licensed patents. Under this agreement, if the Company develops and sells specific products based on the patents, the Company would pay a royalty up to a cumulative $0.5 million from Origin 1, whereby no further payments will be due for any production at Origin 1. If production of those products occurs at subsequent facilities, the Company will pay an upfront license fee royalty and a variable royalty based on production at that subsequent facility, capped at an aggregate $10.0 million per facility. Certain products that the Company is currently developing and anticipates selling are expected to utilize these patents. No payments have been made under this agreement through September 30, 2024. In November 2016, the Company entered into a nonexclusive patent license agreement, which expires upon expiration of the patent. Under this agreement, if the Company produces products based on the patent, the Company will pay an annual royalty upon commencement of operations on Origin 1 which will not exceed $1.0 million cumulatively. The pipeline of Company products and sales are not currently expected to be subject to this patent. The annual royalty payments are less than $0.1 million. The Company terminated the license effective April 26, 2024. In September 2011, the Company entered into a nonexclusive patent license agreement, which expires upon expiration of the patent. Under this agreement, if the Company develops and sells specific products based on the patent, the Company would pay a royalty up to $2.0 million per year and $10.0 million in the aggregate. Certain products that the Company is currently developing and anticipates selling are expected to utilize these patents. There were zero and $0.1 million payments made during the three and nine months ended September 30, 2024, respectively, and no payments made during 2023. In June 2011, the Company entered into a nonexclusive patent license agreement, which expires upon expiration of the licensed patent. Under this agreement, the Company pays less than $0.1 million royalty fee annually and if the Company develops and sells specific products based on the patent, 0.4% of net sales. The pipeline of Company products and sales are not currently expected to be subject to this patent. We enter into supply and service arrangements in the normal course of business. Supply arrangements are primarily for fixed-price manufacture and supply. Service agreements are primarily for the development of manufacturing processes and certain studies. Commitments under service agreements are subject to cancellation at our discretion which may require payment of certain cancellation fees. The timing of completion of service arrangements is subject to variability in estimates of the time required to complete the work. Contingencies At times there may be claims and legal proceedings generally incidental to the normal course of business that are pending or threatened against the Company. For instance, on August 25, 2023, a shareholder filed a putative securities class action complaint in the Eastern District of California against the Company and certain of its officers, alleging violations of the federal securities laws in connection with the Company’s announcement on August 9, 2023, that it expected the timeline for construction of its Origin 2 plant to be delayed. A different shareholder filed a separate complaint on October 4, 2023, alleging the same claims against the same defendants. The two cases were consolidated into In re Origin Materials, Inc. Sec. Litig., No. 2:23-cv-01816-WBS-JDP (E.D. Cal.). A lead plaintiff was appointed for the consolidated case on December 14, 2023 and filed an amended complaint on March 1, 2024. The complaint alleges a class period of February 23, 2023 to August 9, 2023, and seeks as relief, among other things, unspecified damages and fees and costs. On October 29, 2024, the court granted the Company's motion to dismiss the amended complaint, giving the plaintiff 20 days to file an amended complaint. At this preliminary stage in the litigation, the Company cannot predict any particular outcome or financial impact thereof, if any.

Commitments and Contingencies - Narrative (Detail)				1 Months Ended			3 Months Ended	9 Months Ended	12 Months Ended
Commitments and Contingencies - Narrative (Detail)	Jul. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Nov. 30, 2016 USD ($)	Apr. 30, 2023 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2011 USD ($)	Sep. 30, 2024 USD ($) case	Sep. 30, 2024 USD ($) case	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
Advances on inventory purchases							$ 2,800,000	$ 2,800,000
Obligation subject to milestone achievement							$ 9,100,000	9,100,000
Take-Or-Pay basis, term				5 years
Take-Or-Pay basis, contract cost				$ 33,000,000
Purchase obligation				5,000,000
Purchase obligation, minimum, amount				$ 7,000,000
Advance payment								16,600,000
License payment, royalty payment								$ 0
Number of cases (in claims) \| case							2	2
Nonexclusive Patents Llicense Agreement
Other Commitments [Line Items]
License agreement amount										$ 5,000,000
Additional payments for license agreement									$ 7,900,000
Percentage of net sales						0.40%
Patent License Agreement
Other Commitments [Line Items]
License agreement amount	$ 100,000	$ 500,000
Royalty payment per year (less than)						$ 100,000
Royalty payment, cumulative amount		500,000			$ 10,000,000.0
Upfront license fee royalty and a variable royalty, aggregate cap per facility		$ 10,000,000.0
License payment, royalty payment							$ 0	$ 100,000	$ 0
Patent License Agreement \| Minimum
Other Commitments [Line Items]
Royalty payment per year (less than)	$ 100,000
Patent License Agreement \| Maximum
Other Commitments [Line Items]
Royalty payment per year (less than)			$ 100,000
Royalty payment, cumulative amount			$ 1,000,000.0		$ 2,000,000.0

Summary of Significant Accounting Policies - Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Finished goods	$ 0	$ 24
Raw materials	949	888
Spare parts	41	0
Total	$ 990	$ 912

Stockholders' Equity

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

Holders of the Common Stock are entitled to dividends when, as, and if, declared by the Board, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. As of September 30, 2024, the Company had not declared any dividends. The holder of each share of Common Stock is entitled to one vote.

Employee Stock Purchase Plan

The Company maintains an Employee Stock Purchase Plan (“ESPP”). The ESPP permits participants to purchase shares of our Common Stock with the purchase price of the shares at a price determined by our Board, which shall not be less than 85% of the lower of the fair market value of our Common Stock on the first day of an offering or on the date of purchase.

Initially, following adoption of the ESPP, the maximum number of shares of our Common Stock that may be issued under the ESPP was 1,846,710. The ESPP contains an “evergreen” share reserve feature that automatically increases the number of shares of Common Stock reserved for issuance under the plan on January 1 of each year for a period of ten years commencing on January 1, 2022 and ending on (and including) January 1, 2031 in an amount equal to the lesser of (1) one percent (1%) of the fully-diluted shares of our Common Stock on December 31st of the preceding calendar year, (2) 3,693,420 of Common Stock, or (3) such lesser number of shares as determined by our Board. As of December 31, 2023, the number of shares available for issuance under the ESPP was 5,639,944. Our Board made the decision not to increase the number of shares of Common Stock reserved for issuance under the ESPP as of January 1, 2024 as no stock has been offered or issued to employees under the ESPP to date. Shares subject to purchase rights granted under the ESPP that terminate without having been exercised in full will not reduce the number of shares available for issuance under the ESPP.

Equity Incentive Plans

The Company maintains the following equity incentive plans: the 2010 Stock Incentive Plan, the 2020 Equity Incentive Plan, and the 2021 Equity Incentive Plan, each as amended (together, the “Stock Plans”). Upon closing of the Merger, awards under the 2010 Stock Incentive Plan and 2020 Equity Incentive Plan were converted at the Exchange Ratio, which has the meaning set forth in the Merger Agreement, and the 2021 Equity Incentive Plan was adopted and approved.

Origin may grant a wide variety of equity securities under the Stock Plans, including incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards, RSU awards, performance-based stock awards, and other awards. The Company has granted incentive stock options, RSU awards, and performance awards under the Stock Plans. Under the Stock Plans, options must be issued at exercise prices no less than the estimated fair value of the stock on the date of grant and are exercisable for a period not exceeding 10 years from the date of grant. Options granted to employees under the Stock Plans generally vest 25% one year from the vesting commencement date and 1/36th per month thereafter, although certain arrangements call for vesting over other periods. Options granted to non-employees under the Stock Plan vest over periods determined by the Board (generally immediate to four years). RSU awards granted to employees under the 2021 Equity Incentive Plan require a service period of three years and generally vest 33.3% annually over the three-year service period. Under the Stock Plans, the fair value of RSU awards and performance-based stock awards are determined to be the grant date closing stock price. For awards with performance-based conditions, compensation is recorded once there is sufficient objective evidence the performance conditions are considered probable of being met. The performance-based stock awards are subject to vesting based on a performance-based condition and a service-based condition. The performance-based stock awards will vest in a percentage of the target number of shares between 0% and 300%, depending on the extent the performance conditions are achieved.

Initially, following adoption of the 2021 Equity Incentive Plan, there were 18,467,109 shares of Common Stock reserved for issuance under the Stock Plans. The 2021 Equity Incentive Plan contains an “evergreen” share reserve feature that automatically increases the number of shares of Common Stock reserved for issuance under the plan on January 1 of each year for a period of ten years commencing on January 1, 2022 and ending on (and including) January 1, 2031 in an amount equal to five percent (5%) of the fully-diluted Common Stock on December 31 of the preceding year unless our Board acts prior to January 1 to increase the share reserve by a lesser amount. The number of shares added to the share reserve on January 1 of a given year is reduced automatically to the extent necessary to avoid causing the share reserve to exceed fifteen percent (15%) of the fully-diluted Common Stock on December 31 of the preceding year. As of December 31, 2023, the number of shares available for issuance under the 2021 Equity Incentive Plan was 28,761,816. On January 1, 2024, the number of shares of Common Stock reserved for issuance under the 2021 Equity Incentive Plan was automatically increased by 1,278,395 shares pursuant to the 2021 Equity Incentive Plan’s “evergreen” provision to a total of 30,040,211 shares. As of September 30, 2024, there were 10,468,774 shares available for grant.

The following tables summarize stock option activity under the Stock Plans:


(In thousands, except for share and per share amounts)	Outstanding Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Aggregate intrinsic value
Balance as of December 31, 2023	5,478,010	$	0.17	6.05

Exercised	(585,760)	0.14
Forfeited / canceled	(22,224)	0.14
Expired	(7,363)	0.29
Balance as of March 31, 2024	4,862,663	$	0.18	5.74

Exercised	(499,365)	0.32

Balance as of June 30, 2024	4,363,298	$	0.16	6.05
Exercised	(8,509)	0.42


Balance as of September 30, 2024	4,354,789	$	0.16	5.80
Vested and expected to vest at September 30, 2024	4,354,789	$	0.16	5.80	$	6,044
Vested and exercisable at September 30, 2024	2,835,204	$	0.17	5.65	$	3,871

The total intrinsic value of the options exercised was less than $0.1 million and $0.4 million during the three and nine months ended September 30, 2024, respectively, and $0.7 million and $2.5 million during the three and nine months ended September 30, 2023, respectively. The intrinsic value of options exercised during each fiscal year is calculated as the difference between the market value of the stock at the time of exercise and the exercise price of the stock option. As of September 30, 2024, the Company had stock-based compensation of $0.2 million, related to unvested stock options not yet recognized that is expected to be recognized over an estimated weighted average period of 0.7 years.

The following table summarizes the RSU award activity:


(In thousands, except for share and per share amounts)	Outstanding	Weighted-average grant date fair value
Unvested balance at December 31, 2023	10,927,261	$	1.94
Granted - RSU awards	1,286,831	0.65
RSU awards vested and converted to shares	(212,633)	3.60
Forfeited - RSU awards	(948,255)	2.50
Unvested balance March 31, 2024	11,053,204	$	1.72
Granted - RSU awards	781,581	0.99
RSU awards vested and converted to shares	(206,049)	3.71
Forfeited - RSU awards	(316,952)	1.88
Unvested balance June 30, 2024	11,311,784	$	1.59
Granted - RSU awards	30,842	1.54
RSU awards vested and converted to shares	(167,768)	2.11
Forfeited - RSU awards	(701,013)	1.33
Unvested balance September 30, 2024	10,473,845	$	1.60

The following table summarizes the performance-based stock (“PSU”) award activity:


	Outstanding	Weighted-average grant date fair value
Unvested balance at December 31, 2023	2,118,843	$	5.77


Forfeited - PSU awards	(323,950)	7.07
Unvested balance March 31, 2024	1,794,893	$	5.52


Forfeited - PSU awards	(14,725)	7.07
Unvested balance June 30, 2024	1,780,168	$	5.51


Forfeited - PSU awards	(85,252)	6.46
Unvested balance September 30, 2024	1,694,916	$	5.46

The RSU awards entitle the holder upon vesting to be issued on a future date the number of shares of Common Stock that is equal to the number of restricted stock units subject to the RSU awards. The total fair value of shares vested was $1.0 million and $2.4 million during the three and nine months ended September 30, 2024, respectively, and $0.7 million and $1.3 million during the three and nine months ended September 30, 2023, respectively. The number of RSU awards vested during the nine months ended September 30, 2024 totaled 720,514, of which the issuance of 134,064 common shares has been deferred at the election of the participant. The common shares for the deferred RSUs will be released sixty days following the participant's departure from the Company.

The Company issued 455,368 performance-based stock awards during 2023. The performance conditions for the performance-based stock awards from 2023 were probable of being met, therefore $25.2 thousand and $79.2 thousand of performance award stock compensation has been recorded during the three and nine months ended September 30, 2024, respectively. The maximum amount of stock-based compensation expense for the unvested performance-based stock awards, assuming maximum performance, is $9.2 million. Total remaining compensation expense for performance-based stock awards will be recognized over the requisite service periods once the performance-based conditions are deemed to be probable.

The vesting period for RSU awards is generally three years. Total remaining compensation expense for RSU awards to be recognized under the 2021 Equity Incentive Plan is $10.6 million as of September 30, 2024, and will be amortized on a straight-line basis over an estimated weighted average period of 1.3 years.

As discussed in Note 2, the Company effected a workforce reduction in September 2024. The Board authorized certain changes to the stock-based awards in connection with the workforce reduction plan to allow accelerated vesting of a portion of affected employees’ unvested equity awards. The Company recorded a total workforce reduction charge of $0.6 million. The charge consists of severance and benefits costs, inclusive of cash expenditures for employee separation costs of $0.5 million and non-cash charges of $0.1 million for stock based compensation expense. The cash expenditures and non-cash stock based compensation expense for employee separation costs were recorded in general and administrative and research and development expenses during the three and nine months ended September 30, 2024 on the unaudited condensed consolidated statements of operations and comprehensive (loss) income.

During the three and nine months ended September 30, 2024, stock compensation expense of $1.8 million and $5.9 million, respectively, was recognized in general and administrative expenses, and $0.7 million and $1.8 million, respectively, was recognized in research and development expenses on the unaudited condensed consolidated statements of operations and comprehensive (loss) income. During the three and nine months ended September 30, 2023, stock compensation expense of $1.7 million and $4.7 million, respectively, was recognized in general and administrative expenses, and $0.7 million and $2.2 million, respectively, was recognized in research and development expenses on the unaudited condensed consolidated statements of operations and comprehensive (loss) income.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Fair Value Measurement - Summary of Marketable Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	$ 58,181	$ 86,146
Unrealized Gains	143	52
Unrealized Losses	(1,328)	(3,437)
Fair Value	56,996	82,761
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	1,097
Unrealized Gains	0
Unrealized Losses	0
Fair Value	1,097
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	7,781	21,869
Unrealized Gains	42	26
Unrealized Losses	(20)	(847)
Fair Value	7,803	21,048
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	38,935	52,199
Unrealized Gains	78	26
Unrealized Losses	(1,262)	(2,289)
Fair Value	37,751	49,936
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	9,996	11,706
Unrealized Gains	23	0
Unrealized Losses	(21)	(270)
Fair Value	9,998	11,436
Foreign government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	372	372
Unrealized Gains	0	0
Unrealized Losses	(25)	(31)
Fair Value	$ 347	$ 341

Other Liabilities, Long-term	9 Months Ended
Other Liabilities, Long-term	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities, Long-term	Other Liabilities, Long-term In September 2019, Legacy Origin entered into a $5.0 million prepayment agreement with a counterparty for the purchase of products from Origin 1. The prepayment is to be made in two equal installments: the first $2.5 million was paid in October 2019 and the remaining $2.5 million is due within 30 days of the customer confirming that a sample from Origin 1 meets the customer’s specifications. The Company and customer agreed to work in good faith to execute an Offtake Agreement, the agreed terms of which are set forth in the prepayment agreement, whereby 100% of the prepayment will be applied against future purchases. The prepayment agreement provides the customer a capacity reservation of up to a specified annual volume of product from Origin 1 for a term of ten years, pursuant to the terms of an Offtake Agreement. At September 30, 2024 and December 31, 2023, the total amount outstanding on this agreement was $2.5 million. On February 5, 2024, the parties entered into a memorandum of understanding by which they agreed that the counterparty would be released from its obligation to pay the remaining $2.5 million of the prepayment and that Legacy Origin would refund the first $2.5 million within a certain period after reporting in its Quarterly Report on Form 10-Q that its cash and cash equivalents has fallen below a specified threshold.

Income Taxes - Narrative (Detail) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Detail) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Examination [Line Items]
Income tax provision	$ 231,000	$ 94,000	$ 403,000	$ 223,000
Effective income tax rate	(0.63%)	0.30%	(0.58%)	0.65%
Foreign
Income Tax Examination [Line Items]
Income tax provision	$ (200,000)	$ (100,000)	$ (400,000)	$ (200,000)
Domestic
Income Tax Examination [Line Items]
Income tax provision			$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Section S99
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Summary of Stock Option Activity

The following tables summarize stock option activity under the Stock Plans:


(In thousands, except for share and per share amounts)	Outstanding Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Aggregate intrinsic value
Balance as of December 31, 2023	5,478,010	$	0.17	6.05

Exercised	(585,760)	0.14
Forfeited / canceled	(22,224)	0.14
Expired	(7,363)	0.29
Balance as of March 31, 2024	4,862,663	$	0.18	5.74

Exercised	(499,365)	0.32

Balance as of June 30, 2024	4,363,298	$	0.16	6.05
Exercised	(8,509)	0.42


Balance as of September 30, 2024	4,354,789	$	0.16	5.80
Vested and expected to vest at September 30, 2024	4,354,789	$	0.16	5.80	$	6,044
Vested and exercisable at September 30, 2024	2,835,204	$	0.17	5.65	$	3,871

Schedule of RSU and Performance Award Activity

The following table summarizes the RSU award activity:


(In thousands, except for share and per share amounts)	Outstanding	Weighted-average grant date fair value
Unvested balance at December 31, 2023	10,927,261	$	1.94
Granted - RSU awards	1,286,831	0.65
RSU awards vested and converted to shares	(212,633)	3.60
Forfeited - RSU awards	(948,255)	2.50
Unvested balance March 31, 2024	11,053,204	$	1.72
Granted - RSU awards	781,581	0.99
RSU awards vested and converted to shares	(206,049)	3.71
Forfeited - RSU awards	(316,952)	1.88
Unvested balance June 30, 2024	11,311,784	$	1.59
Granted - RSU awards	30,842	1.54
RSU awards vested and converted to shares	(167,768)	2.11
Forfeited - RSU awards	(701,013)	1.33
Unvested balance September 30, 2024	10,473,845	$	1.60

The following table summarizes the performance-based stock (“PSU”) award activity:


	Outstanding	Weighted-average grant date fair value
Unvested balance at December 31, 2023	2,118,843	$	5.77


Forfeited - PSU awards	(323,950)	7.07
Unvested balance March 31, 2024	1,794,893	$	5.52


Forfeited - PSU awards	(14,725)	7.07
Unvested balance June 30, 2024	1,780,168	$	5.51


Forfeited - PSU awards	(85,252)	6.46
Unvested balance September 30, 2024	1,694,916	$	5.46

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of Allowance for Credit Loss


(in thousands)	September 30, 2024		December 31, 2023
Accounts receivable	$	18,649	$	15,204
Provision for credit losses	(730)		—
Unbilled receivable	—		924
Accounts receivable and unbilled receivable, net	$	17,919	$	16,128

Schedule of Inventory


(in thousands)	September 30, 2024		December 31, 2023
Finished goods	$	—	$	24
Raw materials	949		888
Spare parts	41		—
Total	$	990	$	912

Schedule of Estimated Useful Lives of Assets

The estimated useful lives of assets are as follows:


Computer equipment and software			3 years
Lab equipment			5 years
Furniture, fixtures, and machinery			5 years


Land improvements and infrastructure			20 years
Manufacturing equipment and pilot plant			25 years
Buildings			40 years

Schedule of Finite-Lived Intangible Assets


(in thousands)	September 30, 2024		December 31, 2023
Patents	$	405	$	413
Less accumulated amortization	(317)		(292)
Total intangible assets	$	88	$	121

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Sep. 30, 2024
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (“Topic 280”) - Improvements to Reportable Segment Disclosures, which updates disclosures about a public entity’s reportable segments, including more detailed information about a reportable segment’s expenses. The amendments in this update require that we disclose (i) on an annual and interim basis, significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss (collectively referred to as the “significant expense principle”), (ii) on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss, (iii) annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods, (iv) clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, we may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s consolidated financial statements, (v) the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and (vi) requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this update and all existing segment disclosures in Topic 280. This guidance is required to be applied retrospectively to all prior periods presented in the financial statements. This guidance is effective for the Company for its annual consolidated financial statements for the fiscal year ending December 31, 2024, and interim periods within its fiscal year beginning January 1, 2025. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements, other than additional disclosures in the notes to our annual and unaudited condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (“Topic 740”) - Improvements to Income Tax Disclosures, to provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. The amendments in this update require that on an annual basis we (i) disclose specific categories in the rate reconciliation, (ii) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate), (iii) disclose additional information about income taxes paid and expensed disaggregated by federal, state, and foreign taxes, and (iv) disclose income (loss) from continuing operations before income tax expense disaggregated between domestic and foreign. The guidance should be applied on a prospective basis however a retrospective application is permitted. The guidance is effective for the Company for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements, other than additional disclosures in our notes to the consolidated financial statements.

Property, Plant and Equipment - Narrative (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2,800,000	$ 400,000	$ 7,900,000	$ 1,000,000.0
Capitalized interest cost	$ 0		0
Interest capitalization, property, plant and equipment		100,000		400,000
Stock-based compensation capitalized into property, plant, and equipment		$ 700,000	0	$ 2,048,000
Impairment of long lived assets			$ 12,300,000

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Assets (Detail)	Sep. 30, 2024
Computer equipment and software
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Lab equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture, fixtures, and machinery
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Land improvements and infrastructure
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Manufacturing equipment and pilot plant
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Buildings
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years

Fair Value Measurement - Marketable Security Contractual Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mature within one year	$ 12,309	$ 30,264
Mature after one year through two years	3,979	2,098
Mature over two years	40,708	50,399
Fair Value	56,996	82,761
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mature within one year	1,097
Mature after one year through two years	0
Mature over two years	0
Fair Value	1,097
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mature within one year	2,654	20,756
Mature after one year through two years	3,979	292
Mature over two years	1,170	0
Fair Value	7,803	21,048
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mature within one year	243	238
Mature after one year through two years	0	1,806
Mature over two years	37,508	47,892
Fair Value	37,751	49,936
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mature within one year	7,968	8,929
Mature after one year through two years	0	0
Mature over two years	2,030	2,507
Fair Value	9,998	11,436
Foreign government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mature within one year	347	341
Mature after one year through two years	0	0
Mature over two years	0	0
Fair Value	$ 347	$ 341

Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows:


	Fair Value as of September 30, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	40,083	$	—	$	—	$	40,083
Marketable securities	—		56,996		—		56,996
Derivative asset	—		11		—		11
Total fair value	$	40,083	$	57,007	$	—	$	97,090
Liabilities:
Common stock warrants (Public)	$	2,896	$	—	$	—	$	2,896
Common stock warrants (Private Placement)	—		1,358		—		1,358
Earnout liability	—		—		4,184		4,184
Derivative liability	—		49		—		49
Total fair value	$	2,896	$	1,407	$	4,184	$	8,487


	Fair Value as of December 31, 2023
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	75,502	$	—	$	—	$	75,502
Marketable securities	—		82,761		—		82,761

Total fair value	$	75,502	$	82,761	$	—	$	158,263
Liabilities:
Common stock warrants (Public)	$	913	$	—	$	—	$	913
Common stock warrants (Private Placement)	—		428		—		428
Earnout liability	—		—		1,783		1,783
Derivative liability	—		300		—		300
Total fair value	$	913	$	728	$	1,783	$	3,424

Summary of Activities of Earnout Liability

The following table summarizes the activities for the earnout liability:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Balance at beginning of period	$	1,243	$	22,386	$	1,783	$	42,533
Loss (gain) in fair value of earnout liability	2,941		(18,757)		2,401		(39,137)
Other	—		—		—		233
Balance at end of period	$	4,184	$	3,629	$	4,184	$	3,629

Schedule of Marketable Securities

The following table summarized the marketable securities by major security type as follows:


	As of September 30, 2024
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	1,097	$	—	$	—	$	1,097
Corporate bonds	7,781		42		(20)		7,803
Asset-backed securities	38,935		78		(1,262)		37,751
U.S. government and agency securities	9,996		23		(21)		9,998
Foreign government and agency securities	372		—		(25)		347



Total marketable securities	$	58,181	$	143	$	(1,328)	$	56,996


	As of December 31, 2023
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

Corporate bonds	$	21,869	$	26	$	(847)	$	21,048
Asset-backed securities	52,199		26		(2,289)		49,936
U.S. government and agency securities	11,706		—		(270)		11,436
Foreign government and agency securities	372		—		(31)		341



Total marketable securities	$	86,146	$	52	$	(3,437)	$	82,761

Schedule of Marketable Security Contractual Maturities

The contractual maturities of the investments classified as marketable securities are as follows:


	As of September 30, 2024
(in thousands)	Mature within one year		Mature after one year through two years		Mature over two years		Fair Value
Commercial paper	$	1,097	$	—	$	—	$	1,097
Corporate bonds	2,654		3,979		1,170		7,803
Asset-backed securities	243		—		37,508		37,751
U.S. government and agency securities	7,968		—		2,030		9,998
Foreign government and agency securities	347		—		—		347



Total marketable securities	$	12,309	$	3,979	$	40,708	$	56,996


	As of December 31, 2023
(in thousands)	Mature within one year		Mature after one year through two years		Mature over two years		Fair Value

Corporate bonds	$	20,756	$	292	$	—	$	21,048
Asset-backed securities	238		1,806		47,892		49,936
U.S. government and agency securities	8,929		—		2,507		11,436
Foreign government and agency securities	341		—		—		341



Total marketable securities	$	30,264	$	2,098	$	50,399	$	82,761

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant, and equipment consisted of the following:


(in thousands)	September 30, 2024		December 31, 2023
Land	$	11,341	$	11,356
Land improvements and infrastructure	62,145		62,930
Manufacturing equipment and pilot plant	117,652		116,754
Computer equipment and software	2,759		1,629
Lab equipment	3,649		3,468
Furniture, fixtures, and machinery	5,160		1,094



Total	202,706		197,231
Less accumulated depreciation and amortization	(15,288)		(8,136)
Construction in process	35,340		54,023
Total property, plant, and equipment, net	$	222,758	$	243,118

The depreciation and amortization expense totaled $2.8 million and $7.9 million during the three and nine months ended September 30, 2024, respectively, and $0.4 million and $1.0 million during the three and nine months ended September 30, 2023, respectively.

There were no interest or stock-based compensation costs capitalized during the three and nine months ended September 30, 2024. Interest and stock-based compensation capitalization ceased during the fourth quarter of 2023 as Origin 1 was completed. During the three and nine months ended September 30, 2023, the Company capitalized $0.1 million and $0.4 million, respectively, of interest cost into property, plant and equipment related to Origin 1, and capitalized $0.7 million and $2.0 million, respectively, of stock-based compensation related to employees whose costs are necessarily incurred to bring the asset to its intended used.

As discussed in Note 2, the Company identified an impairment loss of $12.3 million related to the capitalized costs specific to the Louisiana site for Origin 2 that were included in construction in process prior to September 30, 2024. The impairment loss was recorded in impairment of assets in the unaudited condensed consolidated statements of operations and comprehensive (loss) income during the three and nine months ended September 30, 2024. See Note 17 regarding the classification of the land as held for sale subsequent to September 30, 2024.

Basic and Diluted Net (Loss) Income Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Summary of basic and diluted net (loss) income per share

The following table sets forth the computation of basic and diluted net (loss) income per share:


(In thousands, except for share and per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net (loss) income attributable to common stockholders—Basic	$	(36,763)	$	30,931	$	(70,175)	$	34,236
Net (loss) income attributable to common stockholders—Diluted	$	(36,763)	$	30,931	$	(70,175)	$	34,236
Denominator:
Weighted-average common shares outstanding—Basic (1)	143,387,618		139,806,045		142,720,941		139,374,106
Stock options	—		2,893,384		—		3,451,224
RSU awards	—		4,121		—		46,844
Weighted-average common shares outstanding—Diluted (1)	143,387,618		142,703,550		142,720,941		142,872,174
Net (loss) income per share—Basic	$	(0.26)	$	0.22	$	(0.49)	$	0.25
Net (loss) income per share—Diluted	$	(0.26)	$	0.22	$	(0.49)	$	0.24

(1)Excludes weighted-average Sponsor Vesting Shares subject to return of 3,000,000 and 3,974,453 shares for the three and nine months ended September 30, 2024, respectively, and 4,500,000 shares for three and nine months ended September 30, 2023.

Summary of Potentially Dilutive Securities for Common Stock

The following potentially dilutive securities for common stock were outstanding and excluded from diluted net (loss) income per share as they are subject to performance or market conditions that were not achieved as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Options to purchase common stock	1,481,531	1,481,531	1,481,531	1,481,531
Performance-based stock awards	1,694,916	2,220,750	1,694,916	2,220,750
Earnout shares	25,000,000	25,000,000	25,000,000	25,000,000
Sponsor Vesting Shares	3,000,000	4,500,000	3,000,000	4,500,000

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net (loss) income per share attributable to common stockholders for the periods presented because including them would have been antidilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Options to purchase common stock	2,873,258	—	2,873,258	—
Warrants to purchase common stock	35,476,627	35,476,627	35,476,627	35,476,627


RSU awards	10,473,845	—	10,473,845	—

Canadian Government Research and Development Program Liability - Narrative (Detail) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2019 CAD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Research and Development [Abstract]
Lesser eligible costs percentage	18.48%
Lesser eligible costs	$ 23.0
Funding repayment period	15 years
Repayment ratio compared to actual funding received	1.25
Funding reduction percentage	50.00%
Minimum costs of commercial plants	$ 500.0
Commercial plants constructed and operational period	30 months
Proceeds from Canadian Government Research and Development Program		$ 0.0	$ 0	$ 8,097,000	$ 0
Funding liability		$ 15,300,000		$ 15,300,000		$ 7,300,000

Subsequent Events (Details) $ in Millions	Sep. 30, 2024 USD ($)
Subsequent Events [Abstract]
Land held for sale	$ 11.3

Basic and Diluted Net (Loss) Income Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Basic and Diluted Net (Loss) Income Per Share

The following table sets forth the computation of basic and diluted net (loss) income per share attributable to common stockholders, Basic net (loss) income per share is computed by dividing net (loss) income for the period by the weighted-average number of common shares outstanding during the period, which excludes Sponsor Vesting Shares which are legally outstanding, but subject to return to the Company. Diluted net (loss) income per share is computed by dividing net (loss) income for the period by the weighted-average common shares outstanding during the period, plus the dilutive effect of the stock options and RSU awards, as applicable pursuant to the treasury stock method. The following table sets forth the computation of basic and diluted net (loss) income per share:


(In thousands, except for share and per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net (loss) income attributable to common stockholders—Basic	$	(36,763)	$	30,931	$	(70,175)	$	34,236
Net (loss) income attributable to common stockholders—Diluted	$	(36,763)	$	30,931	$	(70,175)	$	34,236
Denominator:
Weighted-average common shares outstanding—Basic (1)	143,387,618		139,806,045		142,720,941		139,374,106
Stock options	—		2,893,384		—		3,451,224
RSU awards	—		4,121		—		46,844
Weighted-average common shares outstanding—Diluted (1)	143,387,618		142,703,550		142,720,941		142,872,174
Net (loss) income per share—Basic	$	(0.26)	$	0.22	$	(0.49)	$	0.25
Net (loss) income per share—Diluted	$	(0.26)	$	0.22	$	(0.49)	$	0.24

Diluted net (loss) income per share reflects the potential dilution of securities that could dilute share in the earnings of an entity. The following potentially dilutive securities for common stock were outstanding and excluded from diluted net (loss) income per share as they are subject to performance or market conditions that were not achieved as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Options to purchase common stock	1,481,531	1,481,531	1,481,531	1,481,531
Performance-based stock awards	1,694,916	2,220,750	1,694,916	2,220,750
Earnout shares	25,000,000	25,000,000	25,000,000	25,000,000
Sponsor Vesting Shares	3,000,000	4,500,000	3,000,000	4,500,000


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Options to purchase common stock	2,873,258	—	2,873,258	—
Warrants to purchase common stock	35,476,627	35,476,627	35,476,627	35,476,627


RSU awards	10,473,845	—	10,473,845	—

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 730	$ 0
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	145,886,615	145,706,531
Common stock, shares outstanding (in shares)	145,886,615	145,706,531
Sponsor vesting shares issued (in shares)	3,000,000	4,500,000
Sponsor vesting shares outstanding (in shares)	3,000,000	4,500,000

Stockholders' Equity - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 0.16
Ending balance (in dollars per share)		$ 0.16		$ 0.16
Options to purchase common stock
Outstanding Options
Beginning balance (in shares)	4,363,298	4,862,663	5,478,010	5,478,010	5,478,010
Exercised (in shares)	(8,509)	(499,365)	(585,760)
Forfeited / canceled (in shares)			(22,224)
Expired (in shares)			(7,363)
Ending balance (in shares)	4,354,789	4,363,298	4,862,663	4,363,298	4,354,789	5,478,010
Weighted Average Exercise Price
Beginning balance (in dollars per share)		$ 0.18	$ 0.17	$ 0.17	$ 0.17
Exercised (in dollars per share)	$ 0.42	$ 0.32	0.14
Forfeited / canceled (in dollars per share)			0.14
Expired (in dollars per share)			0.29
Ending balance (in dollars per share)	$ 0.16		$ 0.18		$ 0.16	$ 0.17
Weighted Average Remaining Contractual Life (in years)
Weighted Average Remaining Contractual Life (in years)			5 years 8 months 26 days	6 years 18 days	5 years 9 months 18 days	6 years 18 days
Vested and Expected to Vest
Vested and expected to vest (in shares)	4,354,789				4,354,789
Vested and expected to vest, exercisable (in shares)	2,835,204				2,835,204
Weighted average exercise price, vested and expected to vest (in dollars per share)	$ 0.16				$ 0.16
Weighted average exercise price, vested and exercisable (in dollars per share)	$ 0.17				$ 0.17
Weighted average remaining contractual life, vested and expected to vest (in years)					5 years 9 months 18 days
Label Role Weighted average remaining contractual life, vested and exercisable					5 years 7 months 24 days
Aggregate intrinsic value, vested and expected to vest	$ 6,044				$ 6,044
Aggregate intrinsic value, vested and exercisable	$ 3,871				$ 3,871

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Total revenues	$ 8,202	$ 7,140	$ 22,060	$ 15,742
Cost of revenues (exclusive of depreciation and amortization shown separately below)	8,141	6,340	21,654	14,114
Operating expenses
Research and development	5,127	4,927	15,338	15,398
General and administrative	9,347	7,633	30,611	23,908
Depreciation and amortization	2,822	386	7,946	1,021
Impairment of assets	15,170	0	15,170	0
Total operating expenses	32,466	12,946	69,065	40,327
Loss from operations	(32,405)	(12,146)	(68,659)	(38,699)
Other income (expenses)
Investment income (expenses), net	1,745	(1,130)	5,447	4,308
Interest expenses	(86)	0	(313)	0
(Loss) gain in fair value of derivatives	(43)	126	237	620
(Loss) gain in fair value of common stock warrants liability	(2,285)	22,815	(2,913)	27,438
(Loss) gain in fair value of earnout liability	(2,941)	18,757	(2,401)	39,137
Other (expenses) income, net	(517)	2,603	(1,170)	1,655
Total other (expenses) income, net	(4,127)	43,171	(1,113)	73,158
(Loss) income before income tax expenses	(36,532)	31,025	(69,772)	34,459
Income tax expenses	(231)	(94)	(403)	(223)
Net (loss) income	(36,763)	30,931	(70,175)	34,236
Other comprehensive income (loss)
Unrealized gain on marketable securities	690	1,593	2,210	4,507
Foreign currency translation adjustment	1,828	(4,176)	(3,707)	(784)
Total other comprehensive income (loss)	2,518	(2,583)	(1,497)	3,723
Total comprehensive (loss) income	$ (34,245)	$ 28,348	$ (71,672)	$ 37,959
Net (loss) income per share, basic (in dollars per share)	$ (0.26)	$ 0.22	$ (0.49)	$ 0.25
Net (loss) income per share, diluted (in dollars per share)	$ (0.26)	$ 0.22	$ (0.49)	$ 0.24
Weighted-average common shares outstanding, basic (in shares)	143,387,618	139,806,045	142,720,941	139,374,106
Weighted-average common shares outstanding, diluted (in shares)	143,387,618	142,703,550	142,720,941	142,872,174
Products
Revenues:
Total revenues	$ 8,202	$ 6,358	$ 22,057	$ 14,229
Services
Revenues:
Total revenues	$ 0	$ 782	$ 3	$ 1,513

Earnout Liability - Narrative (Detail) shares in Millions	9 Months Ended
Earnout Liability - Narrative (Detail) shares in Millions	Sep. 30, 2024 $ / shares shares	Dec. 31, 2023
Business Acquisition, Contingent Consideration [Line Items]
Post triggering event period	10 days
Earnout shares of common stock outstanding (in shares)	25.0
Sponsor vesting shares of common stock outstanding (in shares)	4.5
Earnout liability \| Expected dividend rate
Business Acquisition, Contingent Consideration [Line Items]
Measurement input	0	0
Earnout liability \| Price volatility
Business Acquisition, Contingent Consideration [Line Items]
Measurement input	1.26	1.08
Earnout liability \| Risk free interest rate
Business Acquisition, Contingent Consideration [Line Items]
Measurement input	0.0368	0.0404
Earnout liability \| Share trigger price 1
Business Acquisition, Contingent Consideration [Line Items]
Post triggering event period	10 days
Share price (in dollars per share) \| $ / shares	$ 15.00
Period from business combination closing date stock price trigger	3 years
Number of shares cancelled (in shares)	1.5
Number of shares remaining (in shares)	3.0
Earnout liability \| Share trigger price 2
Business Acquisition, Contingent Consideration [Line Items]
Post triggering event period	10 days
Share price (in dollars per share) \| $ / shares	$ 20.00
Period from business combination closing date stock price trigger	4 years
Earnout liability \| Share trigger price 3
Business Acquisition, Contingent Consideration [Line Items]
Post triggering event period	10 days
Share price (in dollars per share) \| $ / shares	$ 25.00
Period from business combination closing date stock price trigger	5 years

Summary of Significant Accounting Policies - Narrative (Detail) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) shares	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023	Sep. 30, 2024 USD ($) plan segment shares	Sep. 30, 2023	Dec. 31, 2023 USD ($) shares	Jun. 25, 2021 $ / shares shares
Significant Accounting Policies [Line Items]
Cash and cash equivalents \| $	$ 56,396	$ 56,396		$ 56,396		$ 75,502
Impairment of long lived assets \| $				12,300
Capitalized cost \| $	$ 31,800	$ 31,800		$ 31,800
Exercise price (in dollars per share) \| $ / shares							$ 11.50
Number of warrants or rights outstanding (in shares) \| shares	35,476,627	35,476,627		35,476,627		35,476,627
Percent of occurrence of a tender offer or exchange of our stockholders	50.00%	50.00%		50.00%
Number of equity incentive plans (in plans) \| plan				3
Number of operating segments (in segments) \| segment				1
Total assets \| $	$ 399,555	$ 399,555		$ 399,555		$ 461,834
September 2024 Workforce Reduction
Significant Accounting Policies [Line Items]
Workforce reduction percentage	28.00%
Outside United States
Significant Accounting Policies [Line Items]
Total assets \| $	$ 216,400	$ 216,400		$ 216,400		$ 206,100
Public Warrants
Significant Accounting Policies [Line Items]
Number of warrants assumed (in shares) \| shares							24,149,960
Number of warrants or rights outstanding (in shares) \| shares	24,149,960	24,149,960		24,149,960
Private Placement Warrants
Significant Accounting Policies [Line Items]
Number of warrants assumed (in shares) \| shares							11,326,667
Number of warrants or rights outstanding (in shares) \| shares	11,326,667	11,326,667		11,326,667
Patents
Significant Accounting Policies [Line Items]
Intangible assets weighted average useful life				2 years 7 months 28 days
Minimum
Significant Accounting Policies [Line Items]
Payments due (in days)				30 days
Intangible assets, estimated useful lives	7 years	7 years		7 years
Maximum
Significant Accounting Policies [Line Items]
Payments due (in days)				90 days
Intangible assets, estimated useful lives	15 years	15 years		15 years
Top Two Customers \| Revenue Benchmark \| Product Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk, percentage				92.00%		67.00%
Top Two Customers \| Revenue Benchmark \| Customer Concentration Risk
Significant Accounting Policies [Line Items]
Concentration risk, percentage		100.00%	87.00%	94.00%	86.00%

Revenues (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred income	$ 0	$ 0

Stockholders' Equity - Narrative (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Common stock, voting rights						one
Total intrinsic value of options exercised		$ 0.1			$ 0.7	$ 0.4	$ 2.5
Cost not yet recognized	$ 0.2	0.2				$ 0.2
Stock compensation not yet recognized, vesting period						8 months 12 days
September 2024 Workforce Reduction
Class of Stock [Line Items]
Restructuring charges	0.6
Employee severance, inclusive of cash expenditures for employee separation costs \| September 2024 Workforce Reduction
Class of Stock [Line Items]
Restructuring charges	0.5
Non-cash charges, stock based compensation \| September 2024 Workforce Reduction
Class of Stock [Line Items]
Restructuring charges	$ 0.1
General and administrative expense
Class of Stock [Line Items]
Share-based payment arrangement expense		1.8			1.7	$ 5.9	4.7
Research and development expense
Class of Stock [Line Items]
Share-based payment arrangement expense		$ 0.7			0.7	$ 1.8	2.2
Stock Plans
Class of Stock [Line Items]
Stock option plan, exercisable period						4 years
Stock Plans \| Share-based payment arrangement, nonemployee
Class of Stock [Line Items]
Stock option plan, exercisable period						10 years
Stock Plans \| One year from the vesting commencement date
Class of Stock [Line Items]
Stock option plan, vesting percentage						25.00%
Option vesting period						1 year
Stock Plans \| More than one year from vesting commencement date
Class of Stock [Line Items]
Stock option plan, vesting percentage						2.778%
Employee Stock \| Employee Stock Purchase Plan
Class of Stock [Line Items]
Purchase price of common stock						85.00%
Number of shares authorized (in shares)								5,639,944		1,846,710
Evergreen shares reserve feature period						10 years
Increase in shares authorized						1.00%
Increase in number of shares of authorized common stock (in shares)						3,693,420
Employee Stock \| Stock Plans
Class of Stock [Line Items]
Common stock, shares reserved (in shares)	30,040,211	30,040,211				30,040,211		28,761,816
Stock options available for grant (in shares)	10,468,774	10,468,774				10,468,774
Employee Stock \| 2021 Equity Incentive Plan
Class of Stock [Line Items]
Number of shares authorized (in shares)									18,467,109
Evergreen shares reserve feature period						10 years
Increase in shares authorized						5.00%
Maximum percentage of share reserve, outstanding diluted stock						15.00%
Number of additional shares authorized (in shares)						1,278,395
RSU awards
Class of Stock [Line Items]
Option vesting period						1 year 3 months 18 days
Fair value of options vested		$ 1.0			$ 0.7	$ 2.4	$ 1.3
Number of RSU awards vested (in shares)						720,514
Issuance of common shares (in shares)						134,064
Vested (in shares)		167,768	206,049	212,633
RSU awards \| Stock Plans
Class of Stock [Line Items]
Option vesting period						3 years
Requisite service period						3 years
RSU awards \| Stock Plans \| Tranche two
Class of Stock [Line Items]
Stock option plan, vesting percentage						33.30%
RSU awards \| Stock Plans \| Tranche three
Class of Stock [Line Items]
Stock option plan, vesting percentage						33.30%
RSU awards \| Stock Plans \| Tranche one
Class of Stock [Line Items]
Stock option plan, vesting percentage						33.30%
RSU awards \| 2021 Equity Incentive Plan
Class of Stock [Line Items]
Stock compensation not yet recognized, vesting period						3 years
Cost not yet recognized, excluding options	$ 10.6	$ 10.6				$ 10.6
Performance-based stock awards \| Stock Plans \| Minimum
Class of Stock [Line Items]
Stock option plan, vesting percentage						0.00%
Performance-based stock awards \| Stock Plans \| Maximum
Class of Stock [Line Items]
Stock option plan, vesting percentage						300.00%
Performance-based stock awards \| 2021 Equity Incentive Plan
Class of Stock [Line Items]
Vested (in shares)		25,200				79,200
Performance-based stock
Class of Stock [Line Items]
Shares issued (in shares)						455,368
Share-based payment arrangement expense						$ 9.2

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 08, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-39378
Entity Registrant Name	ORIGIN MATERIALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1388928
Entity Address, Address Line One	930 Riverside Parkway
Entity Address, Address Line Two	Suite 10
Entity Address, City or Town	West Sacramento,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95605
City Area Code	916
Local Phone Number	231-9329
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		146,250,167
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001802457
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	ORGN
Security Exchange Name	NASDAQ
Warrant
Document Information [Line Items]
Title of 12(b) Security	Warrants
Trading Symbol	ORGNW
Security Exchange Name	NASDAQ

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases [Abstract]
Leases	Leases The Company leases office space and research and development space in Sacramento, California and Sarnia, Ontario under non-cancelable lease agreements and leases various office equipment, and warehouse space. Certain operating leases contain options to extend the lease. The Company included the periods covered by these options as we are reasonably certain to exercise the options for all leases. For leases with the option to extend on a month-to-month basis after the defined extension periods, the Company is reasonably certain to extend for the same term as related leases. As such, lease terms for all leased assets located at the same locations have the same end dates. Rent deposits relating to leases are included within other long-term assets on the unaudited condensed consolidated balance sheets. Variable lease costs include operating expenses for the shared common area, and the amount is based on an annual estimate of the actual common area expenses from the preceding year and are payable monthly. Certain leases were extended during the period ended September 30, 2023. The lease modifications were not accounted for as a separate contract and we remeasured our lease liabilities and ROU assets on the modification date. Our operating leases have remaining lease terms of one to nine years.

Canadian Government Research and Development Program Liability	9 Months Ended
	Sep. 30, 2024
Research and Development [Abstract]
Canadian Government Research and Development Program Liability	Canadian Government Research and Development Program Liability In April 2019, the Company entered into a contribution agreement related to the research and development and construction associated with the operation of Origin 1 in which the Company will participate in a Canadian government research and development program (the “R&D Agreement”). Pursuant to the R&D Agreement, the Company will receive funding for eligible expenditures incurred through March 31, 2023 up to the lesser of approximately 18.48% of eligible costs and $23.0 million (in Canadian dollars). The funding will be repaid over 15 years after completion of Origin 1, commencing no sooner than the third fiscal year of consecutive revenues from a commercial plant, but no later than March 2028. The maximum amount to be repaid by the Company under the R&D Agreement is 1.25 times the actual funding received, subject to the following repayment ceiling formula. Repayment of the funding will be reduced by 50% if the Company begins construction before December 31, 2024 of one or more commercial plants that operate in Canada, with costs exceeding $500.0 million (in Canadian dollars), and the plants being constructed and operational within 30 months of the final investment decision, as defined in the R&D Agreement. Once begun, repayments will be paid annually by April of each year through March 31, 2037. Payments will be determined by a formula of the funded amount based on the fiscal year gross business revenue, as defined in the R&D Agreement. The Company received $0.0 million and $8.1 million during the three and nine months ended September 30, 2024, respectively, and zero during the three and nine months ended September 30, 2023 related to the eligible expenditures incurred before March 31, 2023. The Company recorded a liability for the amount received of $15.3 million and $7.3 million at September 30, 2024 and December 31, 2023, respectively, on the unaudited condensed consolidated balance sheets in Canadian government research and development program liability.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 30, 2024, the Company obtained the approval from the Board to sell the land located in Geismar, Louisiana. The property is currently listed for sale and it is the Company's intention to complete the sale of the land within the next 12 months. The carrying value of $11.3 million was included in property, plant, and equipment, net in the unaudited condensed consolidated balance sheets.

Basic and Diluted Net (Loss) Income Per Share - Summary of Basic And Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net (loss) income attributable to common stockholders—Basic	$ (36,763)	$ 30,931	$ (70,175)	$ 34,236
Net (loss) income attributable to common stockholders—Diluted	$ (36,763)	$ 30,931	$ (70,175)	$ 34,236
Denominator:
Weighted-average common shares outstanding—Basic (in shares)	143,387,618	139,806,045	142,720,941	139,374,106
Weighted-average common shares outstanding—Diluted (in shares)	143,387,618	142,703,550	142,720,941	142,872,174
Net (loss) income per share, basic (in dollars per share)	$ (0.26)	$ 0.22	$ (0.49)	$ 0.25
Net (loss) income per share, diluted (in dollars per share)	$ (0.26)	$ 0.22	$ (0.49)	$ 0.24
Stock options
Denominator:
Dilutive share based payment arrangements (in shares)	0	2,893,384	0	3,451,224
RSU awards
Denominator:
Dilutive share based payment arrangements (in shares)	0	4,121	0	46,844

Organization and Business	9 Months Ended
Organization and Business	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Unless the context otherwise requires, references in these notes to “Origin”, “the Company”, “we”, “us” and “our” and any related terms are intended to mean Origin Materials, Inc. and its consolidated subsidiaries. In June 2021, Artius Acquisition Inc. (“Artius”), a special purpose acquisition company, completed a merger with Micromidas, Inc., a Delaware corporation (now known as Origin Materials Operating Inc., (“Legacy Origin”)), Pursuant to the terms of the Merger Agreement (a business combination between Artius and Legacy Origin, the “Merger Agreement”) under which Legacy Origin became a wholly-owned subsidiary of Artius (the “Merger”) and Artius changed its name to Origin Materials, Inc. (collectively with its subsidiaries, the “Company”). The Company is a leading technology company with a mission to enable the world's transition to sustainable materials. Origin has developed multiple sustainable and performance-enhanced solutions for improving recycling and circularity, including its all-PET caps and closures, as well as low-carbon material solutions for a wide variety of products and applications. The Company’s biomass conversion technology can transform sustainable feedstocks, such as sustainably harvested wood, agricultural waste, wood waste and corrugated cardboard, into materials and products that are currently made from fossil feedstocks, such as petroleum and natural gas. Origin announced its PET caps and closures business in August 2023 after several years of application development related to its furanics technologies. Origin's announced products include the PCO 1881 compliant PET cap and a tethered PET cap designed to comply with European cap tethering mandates and keep caps connected to bottles. Origin has announced several manufacturing partnerships with machine subsystem suppliers, including slit and fold specialists and a provider of visual inspection systems. Mass production partnerships are in place in Europe and North America. Origin's first PET closure manufacturing system successfully completed its Factory Acceptance Test in September 2024. Regarding its biomass conversion technology and furanics application development programs, the Company achieved the mechanical completion of its first furanics manufacturing plant in Ontario, Canada (“Origin 1”). The plant is currently operating on demand with reduced staffing, while preserving Origin's ability to generate product at small volumes sufficient to explore scale-up with strategic partners. This decision was made in alignment with Origin's near-term focus on PET caps as its path to profitability. Origin continues to engage customers as part of its asset light strategy for the Origin 2 project to further scale up biomass conversion technology, with timelines and economic forecasts to depend on the partner and deal structure, which can explore a range of scenarios including Asia brownfield locations. Origin is exploring a variety of plant designs, evaluating potential sites, and performing joint development work, including testing and optimizing various feedstocks to generate data that could influence scale-up strategy.

Common Stock Warrants - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
	Jun. 25, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Class of Warrant or Right [Line Items]
Number of warrants or rights outstanding (in shares)		35,476,627		35,476,627		35,476,627
Common stock warrants liability		$ 4.3		$ 4.3		$ 1.3
Change in fair value of gain assumed warrants		$ (2.3)	$ 22.8	$ (2.9)	$ 27.4
Common Class A \| Minimum
Class of Warrant or Right [Line Items]
Share redemption trigger price per share (in dollars per share)		$ 10.00		$ 10.00
Common Class A \| Maximum
Class of Warrant or Right [Line Items]
Share redemption trigger price per share (in dollars per share)		18.00		18.00
Share trigger price 1
Class of Warrant or Right [Line Items]
Class of warrants redemption price per unit (in dollars per share)		0.01		$ 0.01
Class of warrants redemption notice period				30 days
Warrant instrument redemption threshold consecutive trading days				20 days
Trading period				30 days
Share trigger price 1 \| Common Class A
Class of Warrant or Right [Line Items]
Share redemption trigger price per share (in dollars per share)		18.00		$ 18.00
Public Warrants
Class of Warrant or Right [Line Items]
Warrants issued during the period (in shares)	24,149,960
Number of common stock shares converted (in shares)	1
Share price (in dollars per share)	$ 11.50
Private Placement Warrants
Class of Warrant or Right [Line Items]
Warrants issued during the period (in shares)	11,326,667
Number of common stock shares converted (in shares)	1
Share price (in dollars per share)	$ 11.50
Private Warrant
Class of Warrant or Right [Line Items]
Share price (in dollars per share)		$ 12.00		$ 12.00
Warrant instrument redemption threshold consecutive trading days				20 days
Trading period				30 days
Minimum lock In period required for warrant exercise from the date of business combination				365 days
Number of days for a particular event to get over for determining trading period				150 days

Basic and Diluted Net (Loss) Income Per Share - Narrative (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Weighted-average sponsor vesting shares subject to return (in shares)	3,000,000	4,500,000	3,974,453	4,500,000

Notes Payable - Narrative (Detail) $ in Thousands			1 Months Ended		9 Months Ended	12 Months Ended
Notes Payable - Narrative (Detail) $ in Thousands	Aug. 01, 2022 USD ($)	Nov. 30, 2016 USD ($)	May 31, 2019 USD ($) installment	Nov. 30, 2016 USD ($)	Sep. 30, 2024 USD ($) agreement	Dec. 31, 2023 USD ($)	Dec. 31, 2019 USD ($)	Feb. 29, 2024 USD ($)
Debt Disclosure [Line Items]
Number of offtake supply agreements (in agreements) \| agreement					8
Number of offtake supply agreements with same customer (in agreements) \| agreement					2
Debt instrument accrued interest					$ 100	$ 600
Notes payable, long-term					1,730	3,459
Notes payable, short-term					3,772	1,730
Principal outstanding amount						5,100
Promissory Note
Debt Disclosure [Line Items]
Prepayment from stockholder				$ 5,000
Debt instrument accrued interest			$ 200
Number of installments (in installments) \| installment			3
Long-term debt, maturity, year two	$ 2,700
Long-term debt, maturity, year three	1,900
Long-term debt, maturity, year four	$ 1,800
Accrued interest rate	3.50%
Other long-term debt					3,500	5,200
Accrued interest					100	800
Notes payable, long-term					1,700	3,500
Notes payable, short-term					$ 1,700	$ 1,700
Initial term of offtake supply agreement					10 years
Promissory Note \| Legacy stockholder note
Debt Disclosure [Line Items]
Principal amount	$ 5,200
Promissory Note One
Debt Disclosure [Line Items]
Debt instrument accrued interest							$ 100
Other long-term debt		$ 5,000		$ 5,000
Aggregate principal amount							$ 5,100
Repayment period under prepayment agreement				5 years
Amount of repayment under prepayment agreement		$ 7,500		$ 7,500
Repayment percentage of prepayment agreement amount				150.00%
Variable interest rate		0.25%
Loan facility interest rate					5.56%
Loan facility term					5 years
Repayments of installments, one								$ 2,200
Repayments of installments, two								1,600
Repayments of installments, three								$ 2,100
Remaining outstanding principal					$ 2,000

Summary of Significant Accounting Policies - Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Patents	$ 405	$ 413
Less accumulated amortization	(317)	(292)
Total intangible assets	$ 88	$ 121

Summary of Significant Accounting Policies - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Accounts receivable	$ 18,649	$ 15,204
Provision for credit losses	(730)	0
Unbilled receivable	0	924
Accounts receivable and unbilled receivable, net	$ 17,919	$ 16,128

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 56,396	$ 75,502
Marketable securities	56,996	82,761
Accounts receivable and unbilled receivable, net of allowance for credit losses of $730 and $0, respectively	17,919	16,128
Other receivables	5,183	3,449
Inventory	990	912
Prepaid expenses and other current assets	3,909	8,360
Total current assets	141,393	187,112
Property, plant, and equipment, net	222,758	243,118
Operating lease right-of-use asset	3,829	4,468
Intangible assets, net	88	121
Deferred tax assets	860	1,261
Other long-term assets	30,627	25,754
Total assets	399,555	461,834
Current liabilities
Accounts payable	1,308	1,858
Accrued expenses	3,161	7,689
Operating lease liabilities, current	305	367
Notes payable, short-term	3,772	1,730
Other liabilities, current	93	918
Derivative liability	49	300
Total current liabilities	8,688	12,862
Earnout liability	4,184	1,783
Canadian Government Research and Development Program liability	15,309	7,348
Common stock warrants liability	4,254	1,341
Notes payable, long-term	1,730	3,459
Operating lease liabilities	3,944	4,207
Other liabilities, long-term	2,590	8,327
Total liabilities	40,699	39,327
Commitments and contingencies (See Note 15)
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023	0	0
Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 145,886,615 and 145,706,531, issued and outstanding as of September 30, 2024 and December 31, 2023, respectively (including 3,000,000 and 4,500,000, respectively, of Sponsor Vesting Shares)	15	15
Additional paid-in capital	390,875	382,854
(Accumulated deficit) retained earnings	(24,605)	45,570
Accumulated other comprehensive loss	(7,429)	(5,932)
Total stockholders’ equity	358,856	422,507
Total liabilities and stockholders’ equity	$ 399,555	$ 461,834
Sponsor vesting shares issued (in shares)	3,000,000	4,500,000
Sponsor vesting shares outstanding (in shares)	3,000,000	4,500,000

Property, Plant and Equipment - Schedule of Property Plant and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total	$ 202,706	$ 197,231
Less accumulated depreciation and amortization	(15,288)	(8,136)
Construction in process	35,340	54,023
Total property, plant, and equipment, net	222,758	243,118
Land
Property, Plant and Equipment [Line Items]
Total	11,341	11,356
Land improvements and infrastructure
Property, Plant and Equipment [Line Items]
Total	$ 62,145	62,930
Manufacturing equipment and pilot plant
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Total	$ 117,652	116,754
Computer equipment and software
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Total	$ 2,759	1,629
Lab equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Total	$ 3,649	3,468
Furniture, fixtures, and machinery
Property, Plant and Equipment [Line Items]
Total	$ 5,160	$ 1,094

Fair Value Measurement - Summary of Assets And Liabilities Measured At Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Assets:
Marketable securities	$ 56,996		$ 82,761
Liabilities:
Earnout liability	4,184	$ 1,243	$ 1,783	$ 3,629	$ 22,386	$ 42,533
Derivative Liability, Statement of Financial Position [Extensible Enumeration]			Derivative liability
Fair Value, Recurring
Assets:
Cash equivalents	40,083		$ 75,502
Marketable securities	56,996		82,761
Derivative asset	11
Total fair value	97,090		158,263
Liabilities:
Earnout liability	4,184		1,783
Derivative liability	49		300
Total fair value	8,487		3,424
Fair Value, Recurring \| Level 1
Assets:
Cash equivalents	40,083		75,502
Marketable securities	0		0
Derivative asset	0
Total fair value	40,083		75,502
Liabilities:
Earnout liability	0		0
Derivative liability	0		0
Total fair value	2,896		913
Fair Value, Recurring \| Level 2
Assets:
Cash equivalents	0		0
Marketable securities	56,996		82,761
Derivative asset	11
Total fair value	57,007		82,761
Liabilities:
Earnout liability	0		0
Derivative liability	49		300
Total fair value	1,407		728
Fair Value, Recurring \| Level 3
Assets:
Cash equivalents	0		0
Marketable securities	0		0
Derivative asset	0
Total fair value	0		0
Liabilities:
Earnout liability	4,184		1,783
Derivative liability	0		0
Total fair value	4,184		1,783
Common stock warrants (Public) \| Fair Value, Recurring
Liabilities:
Warrants or rights outstanding	2,896		913
Common stock warrants (Public) \| Fair Value, Recurring \| Level 1
Liabilities:
Warrants or rights outstanding	2,896		913
Common stock warrants (Public) \| Fair Value, Recurring \| Level 2
Liabilities:
Warrants or rights outstanding	0		0
Common stock warrants (Public) \| Fair Value, Recurring \| Level 3
Liabilities:
Warrants or rights outstanding	0		0
Common stock warrants (Private Placement) \| Fair Value, Recurring
Liabilities:
Warrants or rights outstanding	1,358		428
Common stock warrants (Private Placement) \| Fair Value, Recurring \| Level 1
Liabilities:
Warrants or rights outstanding	0		0
Common stock warrants (Private Placement) \| Fair Value, Recurring \| Level 2
Liabilities:
Warrants or rights outstanding	1,358		428
Common stock warrants (Private Placement) \| Fair Value, Recurring \| Level 3
Liabilities:
Warrants or rights outstanding	$ 0		$ 0

Other Liabilities, Long-term - Narrative (Detail) $ in Millions	1 Months Ended
	Sep. 30, 2019 USD ($) installment	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Other Liabilities [Line Items]
Number of prepayment installments (in installments) \| installment	2
Prepayment agreement
Other Liabilities [Line Items]
Other long-term debt	$ 5.0	$ 2.5	$ 2.5
Percentage of prepayment applied against future purchases	100.00%
Period of customer capacity reservation	10 years
Prepayment agreement \| Installment 1
Other Liabilities [Line Items]
Debt instrument, periodic payment	$ 2.5
Prepayment agreement \| Installment 2
Other Liabilities [Line Items]
Debt instrument, periodic payment	$ 2.5
Period of payment of prepayment agreement	30 days

Notes Payable	9 Months Ended
Notes Payable	Sep. 30, 2024
Debt Disclosure [Abstract]
Notes Payable	Notes Payable The Company maintains eight separate offtake supply agreements (the “Offtake Agreements”). Two of the eight Offtake Agreements are with the same customer and pertain to supply of product from Origin 1 and Origin 2, respectively. Legacy Origin received a $5.0 million prepayment from a customer for product from Origin 1 pursuant to one of these Offtake Agreements, which Legacy Origin entered into in November 2016. The prepayment was to be credited against the purchase of products over the term of the Offtake Agreement. The prepayment was secured by a promissory note (the “Promissory Note”) to be repaid in cash in the event that the prepayment could not be credited against the purchase of product, for example, if Origin 1 was never constructed. The Promissory Note was collateralized substantially by Origin 1 and other assets of Origin Materials Canada Pioneer Limited. In May 2019, Legacy Origin and the customer amended the Offtake Agreement and Promissory Note. The amendment added accrued interest of $0.2 million to the principal balance of the prepayment and provided for the prepayment amount to be repaid in three annual installments rather than being applied against the purchase of product from Origin 1. On August 1, 2022, the Company and the customer further amended and restated the Promissory Note with an aggregate principal amount of $5.2 million, which is the sum of the original principal with accrued interest prior to the amendment. As a result of the amendment, the repayment dates were revised and to allow the customer to offset amounts owed for the purchase of product from the Company’s Origin 1 facility against amounts due under the Promissory Note. The repayment in the amount of $2.7 million is due on September 1, 2024, $1.9 million is due on September 1, 2025, and $1.8 million is due on September 1, 2026 (inclusive of accrued but unpaid interest of 3.5% per annum). At September 30, 2024, the total note principal outstanding was $3.5 million, of which $1.7 million was included in notes payable, long-term, and $1.7 million in notes payable, short-term, and unpaid accrued interest of less than $0.1 million was recorded in other liabilities, current. At December 31, 2023, the total note principal outstanding was $5.2 million, of which $3.5 million was included in notes payable, long-term, and $1.7 million in notes payable, short-term, and unpaid accrued interest of $0.8 million was recorded in other liabilities, current. In addition, the amendment reflected the customer’s exercise of its option to enter into a new Offtake Agreement to buy a specified annual amount of product from Origin 2 for an initial term of up to 10 years. Legacy Origin received a $5.0 million prepayment from a customer for product from Origin 1 pursuant to an Offtake Agreement entered into in November 2016. The agreement was amended in 2019 and added the accrued interest of $0.1 million to the principal balance. As a result, the aggregate principal amount became $5.1 million. The prepayment was to be credited against the purchase of products from Origin 1 over the term of the Offtake Agreement, specifically, by applying a credit to product purchases each month over the first five years of operation of Origin 1 up to $7.5 million, which is equal to 150% of the prepayment amount. If product purchases are not sufficient to recover the advances, the application of the credit to purchases as payment of the advances would continue until fully repaid. The prepayment is secured by an agreement that was to be repaid in cash in the event the prepayment cannot be credited against the purchase of product, for example, if Origin 1 were never constructed. The agreement is collateralized substantially by Origin 1 and other assets of Origin Material Canada Pioneer Limited. If repaid in cash, the agreement bears an annual interest rate of the three-month Secured Overnight Financing Rate (“SOFR”) plus 0.25% (5.56% at September 30, 2024) and matures five years from the commercial operation date of Origin 1, which is defined by the plant's actual production of a certain volume of product as well as its capacity to produce a certain annual volume of product. In February 2024, Legacy Origin and the customer amended the agreement to provide for repayment with interest accrual in three installments consisting of approximately $2.2 million on March 1, 2024, $1.6 million on September 1, 2024, and $2.1 million on March 1, 2025 instead of applying a credit to product purchases under the Offtake Agreement. As a result, the principal amounts outstanding under the agreement were reclassified from other liabilities, long-term to notes payable, short-term and the accrued interest was reclassified from other liabilities, long-term to other liabilities, current. The outstanding principal of $2.0 million at September 30, 2024 was recorded in notes payable, short-term and less than $0.1 million accrued interest outstanding was recorded in other liabilities, current. At December 31, 2023, the total amount outstanding of $5.1 million and accrued interest outstanding of $0.6 million was recorded in other liabilities, long-term.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity - Summary of RSU and Performance Award Activity (Detail) - $ / shares	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024
RSU awards
Outstanding
Beginning unvested balance (in shares)	11,311,784	11,053,204	10,927,261	10,927,261
Granted (in shares)	30,842	781,581	1,286,831
Vested (in shares)	(167,768)	(206,049)	(212,633)
Forfeited (in shares)	(701,013)	(316,952)	(948,255)
Ending unvested balance (in shares)	10,473,845	11,311,784	11,053,204	10,473,845
Weighted-average grant date fair value
Beginning unvested balance (in dollars per share)	$ 1.59	$ 1.72	$ 1.94	$ 1.94
Granted (in dollars per share)	1.54	0.99	0.65
Vested (in dollars per share)	2.11	3.71	3.60
Forfeited (in dollars per share)	1.33	1.88	2.50
Ending unvested balance (in dollars per share)	$ 1.60	$ 1.59	$ 1.72	$ 1.60
Performance-based stock awards
Outstanding
Beginning unvested balance (in shares)	1,780,168	1,794,893	2,118,843	2,118,843
Forfeited (in shares)	(85,252)	(14,725)	(323,950)
Ending unvested balance (in shares)	1,694,916	1,780,168	1,794,893	1,694,916
Weighted-average grant date fair value
Beginning unvested balance (in dollars per share)	$ 5.51	$ 5.52	$ 5.77	$ 5.77
Forfeited (in dollars per share)	6.46	7.07	7.07
Ending unvested balance (in dollars per share)	$ 5.46	$ 5.51	$ 5.52	$ 5.46

Basic and Diluted Net (Loss) Income Per Share - Summary of Antidilutive Securities Excluded From Computation Of Earnings Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,873,258	0	2,873,258	0
Options to purchase common stock \| Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,481,531	1,481,531	1,481,531	1,481,531
Performance-based stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,694,916	2,220,750	1,694,916	2,220,750
Earnout shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	25,000,000	25,000,000	25,000,000	25,000,000
Sponsor Vesting Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,000,000	4,500,000	3,000,000	4,500,000
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	35,476,627	35,476,627	35,476,627	35,476,627
RSU awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	10,473,845	0	10,473,845	0

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”).
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of revenues, costs and expenses during the reporting periods. Estimates made by the Company include, but are not limited to, allowance for credit losses, valuation of the earnout liability, carrying amount and useful lives of property, plant and equipment and intangible assets, impairment assessments, stock-based compensation expense and probabilities of achievement of performance conditions on performance stock awards, among others. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.
Unaudited Interim Condensed Consolidated Financial Statements	Unaudited Condensed Consolidated Financial Statements The December 31, 2023 unaudited condensed consolidated balance sheet was derived from the annual audited consolidated financial statements included in the Company's Form 10-K as filed with the SEC on March 4, 2024 (the “Form 10-K”). The accompanying unaudited condensed consolidated balance sheet as of September 30, 2024, the unaudited condensed consolidated statements of operations and comprehensive (loss) income, and stockholders’ equity for the three and nine months ended September 30, 2024 and 2023, and the unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023, and the notes to such unaudited condensed consolidated financial statements are unaudited. These unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and the applicable rules and regulations of the SEC for interim financial information. As permitted under those rules, we condensed or omitted certain footnotes or other financial information that are normally required by GAAP for annual financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements and, in management’s opinion, include all adjustments consisting of only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of September 30, 2024 and its results of operations for the three and nine months ended September 30, 2024 and 2023 and cash flows for the nine months ended September 30, 2024 and 2023. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full fiscal year or any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited annual financial statements and notes thereto for the year ended December 31, 2023 included the Company’s Form 10-K.
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and applicable rules and regulations of the SEC and include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents, marketable securities and accounts receivable. The Company maintains its cash, cash equivalents, and marketable securities accounts with financial institutions where, at times, deposits exceed federal insurance limits. Management believes that the Company is not currently exposed to significant credit risk as the Company’s deposits are held at financial institutions that management believes to be of high credit quality. While the Company has not experienced losses of these deposits to date, future disruptions of financial institutions where we bank or have credit arrangements, or disruptions of the financial services industry in general, could adversely affect our ability to access our cash and cash equivalents. If we are unable to access our cash and cash equivalents as needed, our financial position and ability to operate our business could be adversely affected. The Company maintains an allowance for credit losses for estimated credit losses. This allowance is based upon historical loss patterns, the number of days that billings are past due and an evaluation of the potential risk of loss associated with the accounts. The Company records the allowance against bad debt expense within general and administrative expenses included on the unaudited condensed consolidated statements of operations and comprehensive (loss) income, up to the amount of revenues recognized to date.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an initial maturity of three months or less at the date of purchase to be cash equivalents. The Company maintains such funds in cash deposits and money market accounts with balances of $56.4 million and $75.5 million as of September 30, 2024 and December 31, 2023, respectively.
Marketable Securities	Marketable Securities The Company’s investment policy requires the Company to purchase investments that are consistent with the classification of available-for-sale securities. The Company does not buy and hold securities principally for the purpose of selling them in the near future. The Company’s policy is focused on the preservation of capital, liquidity, and return. The Company considers all of its marketable debt securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the unaudited condensed consolidated balance sheets. Securities are classified as available for sale and are carried at fair value, with the change in unrealized gains and losses reported as a separate component on the unaudited condensed consolidated statements of operations and comprehensive (loss) income until realized. Fair value is determined based on quoted market rates when observable or utilizing data points that are observable, such as quoted prices, interest rates and yield curves. Securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of the excess, if any, is caused by expected credit losses. Expected credit losses on securities are recognized in other (expenses) income, net on the unaudited condensed consolidated statements of operations and comprehensive (loss) income, and any remaining unrealized gains and losses are included in accumulated other comprehensive loss on the unaudited condensed consolidated statements of stockholders’ equity. For the purposes of computing realized and unrealized gains and losses, the cost of securities sold is based on the specific-identification method. Amortization of discounts and premiums, net, and interest on securities classified as available for sale are included as a component of investment income (expenses), net within other income (expenses). The nature of these financial instruments include instruments for which quoted prices are available but traded less frequently, instruments whose fair value has been derived using a model where inputs to the model are directly observable in the market, or can be derived principally from or corroborated by observable market data, and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed. Level 2 financial instruments include agency mortgage-backed securities, corporate fixed income securities infrequently traded, and other securities, which primarily consist of sovereign debt, U.S. government agency securities, loans, and state and municipal securities.
Derivative Financial Instruments	Derivative Financial Instruments The Company enters into foreign currency derivative contracts with financial institutions to reduce foreign exchange risk related to marketable securities. The Company uses forward currency derivative contracts to minimize the Company’s exposure to balances primarily denominated in the British Pound Sterling and Australian Dollar. The Company’s foreign currency derivative contracts, which are not designated as hedging instruments, are used to reduce the exchange rate risk associated primarily with marketable securities. The Company’s derivative financial instruments program is not designated for trading or speculative purposes. Outstanding foreign currency derivative contracts are recorded at fair value on the unaudited condensed consolidated balance sheets. Foreign currency derivative contracts are marked-to-market at the end of each reporting period with gains and losses recognized in the change in fair value of derivatives within other income (expenses). While the contract or notional amount is often used to express the volume of foreign currency derivative contracts, the amounts potentially subject to credit risk are generally limited to the amounts, if any, by which the counterparties’ obligations under the agreements exceed the obligations of the Company to the counterparties.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company applies the fair value measurement accounting standard whenever other accounting pronouncements require or permit fair value measurements. Fair value is defined in the accounting standard as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy under current accounting guidance prioritizes the inputs to valuation techniques used to measure fair value into three broad levels (Level 1, Level 2, and Level 3). Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability and reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk) in a principal market. The carrying amounts of working capital balances approximate their fair values due to the short maturity of these items. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest rate, currency, or credit risks arising from its financial instruments. The fair values of cash equivalents and the Common Stock Warrants which are publicly traded are level 1 inputs. The fair value of the Common Stock Warrants which are not publicly traded, marketable securities, and foreign currency derivative contracts are level 2 inputs as the Company uses quoted market prices or alternative pricing sources and models utilizing observable market inputs. The earnout liability was estimated using Level 3 inputs.
Accounts Receivable and Unbilled Receivable, net	Accounts Receivable and Unbilled Receivable, net Accounts receivables are recorded at their estimated net realizable value, and we do not typically charge interest. The allowance for credit losses, known as the Current Expected Credit Losses model, is our best estimate of the amount of probable credit losses associated with our accounts receivable. We determine the allowance based on current conditions, and reasonable and supportable forecasts. Past-due balances are reviewed individually for collectability. We charge off account balances against the allowance after we have exhausted all means of collection and we consider the potential for recovery to be remote. Our accounts receivable generally have net 30 to net 90-day payment terms, and we usually receive consideration in accordance with the payment terms of the contract. Unbilled receivables arise when the timing of customers billing differs from the timing of revenue recognition for the obligations performed.
Other Receivables	Other Receivables Other receivables consist of amounts due from foreign governmental entities related to the Canadian harmonized sales tax and goods and services tax for goods and services transacted in Canada, and amounts due from cash collateral held by others for foreign currency derivative contracts.
Inventory	Inventory Inventory is stated at the lower of cost or net realizable value. Cost is determined using a weighted-average cost approach, assuming full absorption of direct and indirect manufacturing costs, or based on cost of purchasing from our vendors. If inventory costs exceed expected net realizable value due to obsolescence or lack of demand, valuation adjustments are recorded for the difference between the cost and the expected net realizable value.
Property, Plant, and Equipment	Property, Plant, and Equipment Additions to property, plant, and equipment are recorded at cost and depreciated or amortized using the straight-line method over the estimated economic useful lives of the respective assets. Land is non-amortizing. Computer equipment and software includes an immaterial amount of internal use software. Major additions and improvements are capitalized, while replacements, repairs, and maintenance that do not extend the life of an asset are charged to expenses. Upon retirement or sale, the cost of assets disposed and the related accumulated depreciation or amortization are removed from the accounts and any resulting gain or loss is charged to income or loss from operations. Costs incurred to acquire, construct or install property, plant, and equipment during the construction stage of a capital project and costs capitalized in conjunction with major improvements that have not yet been placed in service are recorded as construction in progress, and accordingly are not currently being depreciated. The Company capitalizes stock-based compensation expenses and interest cost incurred on funds used to construct property, plant and equipment.
Intangible Assets	Intangible Assets Intangible assets are recorded at cost and are amortized using the straight-line method over the estimated useful lives of the respective assets, ranging from 7 to 15 years. The cost of servicing the Company’s patents is expensed as incurred. Upon retirement or sale, the cost of intangible assets is disposed of and the related accumulated amortization is removed from the accounts.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company reviews its long-lived assets, including property, equipment, software and intangibles, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. If indicators of impairment exist, management identifies the asset group which includes the potentially impaired long-lived asset, at the lowest level at which there are separate, identifiable cash flows. If the total of the expected undiscounted future net cash flows for the asset group is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset.
Common Stock Warrants Liability	Common Stock Warrants Liability The Company assumed 24,149,960 public warrants (the “Public Warrants”) and 11,326,667 private placement warrants (the “Private Placement Warrants”, and the Public Warrants together with the Private Placement Warrants, the “Common Stock Warrants” or “Warrants”) upon the Merger, all of which were issued in connection with Artius’ initial public offering and entitle each holder to purchase one share of Class A common stock at an exercise price of at $11.50 per share. As of September 30, 2024, 24,149,960 Public Warrants and 11,326,667 Private Placement Warrants are outstanding. The Public Warrants are publicly traded and are exercisable for cash unless certain conditions occur, such as the failure to have an effective registration statement related to the shares issuable upon exercise or redemption by the Company under certain conditions, at which time the Public Warrants may be cashless exercised. The Private Placement Warrants are transferable, assignable or salable in certain limited exceptions. The Private Placement Warrants are exercisable for cash or on a cashless basis, at the holder’s option, and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will cease to be Private Placement Warrants, and become Public Warrants and be redeemable by the Company and exercisable by such holders on the same basis as the other Public Warrants. There were no Private Placement Warrants that became Public Warrants as of September 30, 2024. The Company evaluated the Common Stock Warrants under ASC 815-40, Derivatives and Hedging-Contracts in Entity’s Own Equity (“ASC 815-40”), and concluded they do not meet the criteria to be classified in stockholders’ equity. Specifically, the exercise of the Common Stock Warrants may be settled in cash upon the occurrence of a tender offer or exchange that involves 50% or more of our Class A stockholders. Because not all of the voting stockholders need to participate in such tender offer or exchange to trigger the potential cash settlement and the Company does not control the occurrence of such an event, the Company concluded that the Common Stock Warrants do not meet the conditions to be classified in equity. Since the Common Stock Warrants meet the definition of a derivative under ASC 815, the Company recorded these Warrants as liabilities on the unaudited condensed consolidated balance sheets at fair value, with subsequent changes in their respective fair values recognized in the change in fair value of common stock warrant liabilities within the unaudited condensed consolidated statements of operations and comprehensive (loss) income at each reporting date. The Public Warrants were publicly traded and thus had an observable market price to estimate fair value, and the Private Placement Warrants were effectively valued similar to the Public Warrants, as described in Note 5 “Fair Value Measurement”.
Earnout Liability	Earnout Liability The Company has recorded an earnout liability related to future contingent equity shares related to the Merger (Note 9 “Earnout Liability”). The Company recorded these instruments as liabilities on the unaudited condensed consolidated balance sheets at fair value, with subsequent changes in their respective fair values recognized in earnings at each reporting date.
Leases	Leases We determine if an arrangement is a lease at inception. Where an arrangement is a lease, we determine if it is an operating lease or a finance lease. The Company has leases for office space and equipment, some of which have escalating rentals during the initial lease term and during subsequent optional renewal periods. The Company accounts for its leases under ASC 842, Leases. The Company recognizes a right-of-use (“ROU”) asset and lease liability for leases based on the net present value of future minimum lease payments. Lease expense is recognized on a straight-line basis over the non-cancelable lease term and renewal periods that are considered reasonably certain to be exercised.
Revenue Recognition	Revenue Recognition Our revenues are from product sales and service agreements. The majority of our contracts with customers typically contain multiple products and services. We account for individual products and services separately if they are distinct—that is, if a product or service is separately identifiable from other items in the contract and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or service to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In determining the appropriate amount of revenue to be recognized as we fulfill our obligations under our product revenue and service agreements, we perform the following steps: 1.Identifying the contract with a customer; 2.Identifying the performance obligations in the contract; 3.Determining the transaction price; 4.Allocating the transaction price to the performance obligations; and 5.Recognizing revenue when, or as, the performance obligations are satisfied. We account for a contract with a customer when there is approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Non-cancellable purchase orders received from customers to deliver a specific quantity of product, when combined with our order confirmation, in exchange for future consideration, create enforceable rights and obligations on both parties and constitute a contract with a customer. Our service agreements are customized, specified, and often include various stages at which transaction prices are agreed to. These service agreements often include multiple performance obligations within each stage. We identify each performance obligation at contract inception and allocate the consideration to each distinct performance obligation based on the stand-alone selling price of each performance obligation. Our services are tailored to each individual customer and the stand-alone selling prices are not directly observable. As our service agreements include customers that are not in similar geographic markets and for different services, therefore the Company uses the expected cost plus margin approach to estimate the stand-alone selling price for each of our performance obligations. We recognize revenue from the service agreements over the period during which the services are performed and recognize the associated costs as they are incurred. In general, we recognize revenue when, or as, our performance obligations under the terms of a contract with our customer are satisfied. For product sales, this happens when we transfer control of our products and risk of loss to the customer or when title passes upon shipment. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring our products. Taxes collected from customers and remitted to governmental authorities are excluded from revenues. The Company recognizes its revenue from direct product sales which is recognized at a point in time when the performance obligation is satisfied upon delivery of the product. For service agreements, the timing of satisfying performance obligations may differ from the timing of the invoicing of customers and the receipt of customer payments. The Company records a receivable prior to payment if there is an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records contract liability (deferred income) until the performance obligations are satisfied. Revenue is recorded in an amount that reflects that consideration we expect to be entitled to in exchange for those goods or services. We have elected to treat shipping and handling activities as fulfillment costs. Cost of revenues Cost of revenues for product sales consists primarily of cost associated with the purchase of finished goods. Cost of revenues for service agreements is based on the actual cost incurred, which mainly consists of the direct cost from vendors and overhead costs such as payroll and benefit related to our employees who provide the services to customers.
Research and Development Cost	Research and Development Cost Costs related to research and development are expensed as incurred.
Stock-Based Compensation	Stock-Based Compensation The Company has issued common stock awards under three equity incentive plans. Origin measures stock options and other stock-based awards granted to employees, directors and other service providers based on their fair value on the date of grant and recognizes compensation expenses of those awards over the requisite service period, which is generally the vesting period of the respective award. In addition, the Company capitalizes stock-based compensation related to employees whose costs are necessary to bring the asset to its intended use. For awards with performance conditions, compensation is recorded once there is sufficient objective evidence the performance conditions are considered probable of being met. Origin applies the straight-line method of expense recognition to all awards with only service-based vesting conditions. Origin estimates the fair value of each stock option grant on the date of grant using the Black-Scholes option-pricing model and the grant date closing stock price for RSU awards and performance awards. The Black-Scholes option-pricing model requires the use of highly subjective assumptions including: •Expected term – The expected term of the options is based on the simplified method, which takes into consideration the grant’s contractual life and vesting period and assumes that all options will be exercised between the vesting date and the contractual term of the option which averages an award’s vesting term and its contractual term. •Expected volatility – The Company uses the trading history of various companies in its industry sector in determining an estimated volatility factor. •Expected dividend – The Company has not declared common stock dividends and does not anticipate declaring any common stock dividends in the foreseeable future. •Forfeiture – The Company estimates forfeitures based on historical activity and considers voluntary and involuntary termination behavior as well as analysis of actual historical option forfeitures, netting the estimated expense by the derived forfeiture rate. •Risk-free interest rate – The Company bases the risk-free interest rate on the implied yield currently available on U.S. Treasury zero-coupon issues with the same or substantially equivalent remaining term.
Income Taxes	Income Taxes Deferred income taxes are determined using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when the expected recognition of a deferred income tax asset is considered to be unlikely. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties related to income tax matters as a component of income tax expense.
Functional Currency Translation	Functional Currency Translation The functional currency of the Company’s wholly-owned Canadian subsidiaries is the Canadian dollar, whereby their assets and liabilities are translated at period-end exchange rates except for non-monetary capital transactions and balances, which are translated at historical rates. All income and expense amounts of the Company are translated at average exchange rates for the respective period. Translation gains and losses are not included in determining net (loss) income but are accumulated in a separate component of stockholders’ equity. Foreign currency transaction gains and losses are included in the determination of net (loss) income in the period in which they occur. These amounts are included in other (expenses) income, net, on the unaudited condensed consolidated statements of operations and comprehensive (loss) income.
Comprehensive (Loss) Income	Comprehensive (Loss) Income The Company’s comprehensive (loss) income consists of net (loss) income and other comprehensive income (loss). Foreign currency translation gains or losses and unrealized gains or losses on available-for-sale marketable debt securities are included in the Company’s other comprehensive income (loss).
Basic and Diluted Net (Loss) Income Per Share	Basic and Diluted Net (Loss) Income Per Share Basic net (loss) income per common share is calculated by dividing the net (loss) income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net (loss) income per share is computed by dividing the net (loss) income attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For the purposes of the diluted net (loss) income per share calculation, common stock options, RSU awards, performance stock awards, warrants, earnout shares, and Sponsor Vesting Shares (as defined in Note 9 “Earnout Liability”) are considered to be potentially dilutive securities. For the periods presented that the Company has reported a net loss, diluted net loss per common share is the same as basic net loss per common share for those periods.
Segment Reporting	Segment Reporting The Company operates in a single segment. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The Company has determined that its Co-Chief Executive Officers are the CODM. As of September 30, 2024, the Company’s CODM has made such decisions and assessed performance at the Company level.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (“Topic 280”) - Improvements to Reportable Segment Disclosures, which updates disclosures about a public entity’s reportable segments, including more detailed information about a reportable segment’s expenses. The amendments in this update require that we disclose (i) on an annual and interim basis, significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss (collectively referred to as the “significant expense principle”), (ii) on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss, (iii) annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods, (iv) clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, we may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s consolidated financial statements, (v) the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and (vi) requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this update and all existing segment disclosures in Topic 280. This guidance is required to be applied retrospectively to all prior periods presented in the financial statements. This guidance is effective for the Company for its annual consolidated financial statements for the fiscal year ending December 31, 2024, and interim periods within its fiscal year beginning January 1, 2025. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements, other than additional disclosures in the notes to our annual and unaudited condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (“Topic 740”) - Improvements to Income Tax Disclosures, to provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. The amendments in this update require that on an annual basis we (i) disclose specific categories in the rate reconciliation, (ii) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate), (iii) disclose additional information about income taxes paid and expensed disaggregated by federal, state, and foreign taxes, and (iv) disclose income (loss) from continuing operations before income tax expense disaggregated between domestic and foreign. The guidance should be applied on a prospective basis however a retrospective application is permitted. The guidance is effective for the Company for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements, other than additional disclosures in our notes to the consolidated financial statements.

Fair Value Measurement - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Class of Warrant or Right [Line Items]
(Loss) gain in fair value of earnout liability	$ (2,941)	$ 18,757	$ (2,401)	$ 39,137
Sales of marketable securities			1,456,532	3,057,700
Realized gain (loss) on marketable securities	(400)	2,400	(400)	1,700
Aggregate fair value of marketable securities in unrealized loss position	39,700		39,700		$ 73,200
Foreign exchange contract
Class of Warrant or Right [Line Items]
Net gain (loss) on foreign currency derivative contracts	(100)	100	200	600
Derivative, notional amount	5,500		5,500		$ 14,700
Earnout liability
Class of Warrant or Right [Line Items]
(Loss) gain in fair value of earnout liability	$ (2,900)	$ 18,800	$ 2,400	$ 39,100

Fair Value Measurement - Summary of Activities of Earnout Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Combination, Contingent Consideration, Liability [Roll Forward]
Beginning balance	$ 1,243	$ 22,386	$ 1,783	$ 42,533
Loss (gain) in fair value of earnout liability	2,941	(18,757)	2,401	(39,137)
Other	0	0	0	233
Ending balance	$ 4,184	$ 3,629	$ 4,184	$ 3,629

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The Company’s unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as determined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”).

Use of Estimates

The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of revenues, costs and expenses during the reporting periods. Estimates made by the Company include, but are not limited to, allowance for credit losses, valuation of the earnout liability, carrying amount and useful lives of property, plant and equipment and intangible assets, impairment assessments, stock-based compensation expense and probabilities of achievement of performance conditions on performance stock awards, among others. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.

Unaudited Condensed Consolidated Financial Statements

The December 31, 2023 unaudited condensed consolidated balance sheet was derived from the annual audited consolidated financial statements included in the Company's Form 10-K as filed with the SEC on March 4, 2024 (the “Form 10-K”). The accompanying unaudited condensed consolidated balance sheet as of September 30, 2024, the unaudited condensed consolidated statements of operations and comprehensive (loss) income, and stockholders’ equity for the three and nine months ended September 30, 2024 and 2023, and the unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023, and the notes to such unaudited condensed consolidated financial statements are unaudited.

These unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and the applicable rules and regulations of the SEC for interim financial information. As permitted under those rules, we condensed or omitted certain footnotes or other financial information that are normally required by GAAP for annual financial statements.

The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements and, in management’s opinion, include all adjustments consisting of only normal recurring adjustments necessary for the fair presentation of the Company’s financial position as of September 30, 2024 and its results of operations for the three and nine months ended September 30, 2024 and 2023 and cash flows for the nine months ended September 30, 2024 and 2023. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full fiscal year or any other period.

These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited annual financial statements and notes thereto for the year ended December 31, 2023 included the Company’s Form 10-K.

Principles of Consolidation

The unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and applicable rules and regulations of the SEC and include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents, marketable securities and accounts receivable. The Company maintains its cash, cash equivalents, and marketable securities accounts with financial institutions where, at times, deposits exceed federal insurance limits. Management believes that the Company is not currently exposed to significant credit risk as the Company’s deposits are held at financial institutions that management believes to be of high credit quality. While the Company has not experienced losses of these deposits to date, future disruptions of financial institutions where we bank or have credit arrangements, or disruptions of the financial services industry in general, could adversely affect our ability to access our cash and cash equivalents. If we are unable to access our cash and cash equivalents as needed, our financial position and ability to operate our business could be adversely affected.

The Company maintains an allowance for credit losses for estimated credit losses. This allowance is based upon historical loss patterns, the number of days that billings are past due and an evaluation of the potential risk of loss associated with the accounts. The Company records the allowance against bad debt expense within general and administrative expenses included on the unaudited condensed consolidated statements of operations and comprehensive (loss) income, up to the amount of revenues recognized to date. For accounts receivable, our top two customers from product sales, in the aggregate, accounted for approximately 92% and 67% as of September 30, 2024 and December 31, 2023, respectively, of total accounts receivable outstanding balances and accounted for approximately 100% and 94% of total revenue for the three and nine months ended September 30, 2024, respectively, and 87% and 86% of total revenue for the three and nine months ended September 30, 2023, respectively.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an initial maturity of three months or less at the date of purchase to be cash equivalents. The Company maintains such funds in cash deposits and money market accounts with balances of $56.4 million and $75.5 million as of September 30, 2024 and December 31, 2023, respectively.

Marketable Securities

The Company’s investment policy requires the Company to purchase investments that are consistent with the classification of available-for-sale securities. The Company does not buy and hold securities principally for the purpose of selling them in the near future. The Company’s policy is focused on the preservation of capital, liquidity, and return. The Company considers all of its marketable debt securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the unaudited condensed consolidated balance sheets. Securities are classified as available for sale and are carried at fair value, with the change in unrealized gains and losses reported as a separate component on the unaudited condensed consolidated statements of operations and comprehensive (loss) income until realized. Fair value is determined based on quoted market rates when observable or utilizing data points that are observable, such as quoted prices, interest rates and yield curves. Securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of the excess, if any, is caused by expected credit losses. Expected credit losses on securities are recognized in other (expenses) income, net on the unaudited condensed consolidated statements of operations and comprehensive (loss) income, and any remaining unrealized gains and losses are included in accumulated other comprehensive loss on the unaudited condensed consolidated statements of stockholders’ equity. For the purposes of computing realized and unrealized gains and losses, the cost of securities sold is based on the specific-identification method. Amortization of discounts and premiums, net, and interest on securities classified as available for sale are included as a component of investment income (expenses), net within other income (expenses).

The nature of these financial instruments include instruments for which quoted prices are available but traded less frequently, instruments whose fair value has been derived using a model where inputs to the model are directly observable in the market, or can be derived principally from or corroborated by observable market data, and instruments that are fair valued using other financial instruments, the parameters of which can be directly observed. Level 2 financial instruments include agency mortgage-backed securities, corporate fixed income securities infrequently traded, and other securities, which primarily consist of sovereign debt, U.S. government agency securities, loans, and state and municipal securities.

Derivative Financial Instruments

The Company enters into foreign currency derivative contracts with financial institutions to reduce foreign exchange risk related to marketable securities. The Company uses forward currency derivative contracts to minimize the Company’s exposure to balances primarily denominated in the British Pound Sterling and Australian Dollar. The Company’s foreign currency derivative contracts, which are not designated as hedging instruments, are used to reduce the exchange rate risk associated primarily with marketable securities. The Company’s derivative financial instruments program is not designated for trading or speculative purposes. Outstanding foreign currency derivative contracts are recorded at fair value on the unaudited condensed consolidated balance sheets.

Foreign currency derivative contracts are marked-to-market at the end of each reporting period with gains and losses recognized in the change in fair value of derivatives within other income (expenses). While the contract or notional amount is often used to express the volume of foreign currency derivative contracts, the amounts potentially subject to credit risk are generally limited to the amounts, if any, by which the counterparties’ obligations under the agreements exceed the obligations of the Company to the counterparties.

Fair Value of Financial Instruments

The Company applies the fair value measurement accounting standard whenever other accounting pronouncements require or permit fair value measurements. Fair value is defined in the accounting standard as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy under current accounting guidance prioritizes the inputs to valuation techniques used to measure fair value into three broad levels (Level 1, Level 2, and Level 3).

Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability and reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk) in a principal market.

The carrying amounts of working capital balances approximate their fair values due to the short maturity of these items. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest rate, currency, or credit risks arising from its financial instruments.

The fair values of cash equivalents and the Common Stock Warrants which are publicly traded are level 1 inputs. The fair value of the Common Stock Warrants which are not publicly traded, marketable securities, and foreign currency derivative contracts are level 2 inputs as the Company uses quoted market prices or alternative pricing sources and models utilizing observable market inputs. The earnout liability was estimated using Level 3 inputs.

Accounts Receivable and Unbilled Receivable, net

Accounts receivables are recorded at their estimated net realizable value, and we do not typically charge interest. The allowance for credit losses, known as the Current Expected Credit Losses model, is our best estimate of the amount of probable credit losses associated with our accounts receivable. We determine the allowance based on current conditions, and reasonable and supportable forecasts. Past-due balances are reviewed individually for collectability. We charge off account balances against the allowance after we have exhausted all means of collection and we consider the potential for recovery to be remote. Our accounts receivable generally have net 30 to net 90-day payment terms, and we usually receive consideration in accordance with the payment terms of the contract. Unbilled receivables arise when the timing of customers billing differs from the timing of revenue recognition for the obligations performed.


(in thousands)	September 30, 2024		December 31, 2023
Accounts receivable	$	18,649	$	15,204
Provision for credit losses	(730)		—
Unbilled receivable	—		924
Accounts receivable and unbilled receivable, net	$	17,919	$	16,128

Other Receivables

Other receivables consist of amounts due from foreign governmental entities related to the Canadian harmonized sales tax and goods and services tax for goods and services transacted in Canada, and amounts due from cash collateral held by others for foreign currency derivative contracts.

Inventory

Inventory is stated at the lower of cost or net realizable value. Cost is determined using a weighted-average cost approach, assuming full absorption of direct and indirect manufacturing costs, or based on cost of purchasing from our vendors. If inventory costs exceed expected net realizable value due to obsolescence or lack of demand, valuation adjustments are recorded for the difference between the cost and the expected net realizable value.


(in thousands)	September 30, 2024		December 31, 2023
Finished goods	$	—	$	24
Raw materials	949		888
Spare parts	41		—
Total	$	990	$	912

Property, Plant, and Equipment

Additions to property, plant, and equipment are recorded at cost and depreciated or amortized using the straight-line method over the estimated economic useful lives of the respective assets. The estimated useful lives of assets are as follows:


Computer equipment and software			3 years
Lab equipment			5 years
Furniture, fixtures, and machinery			5 years


Land improvements and infrastructure			20 years
Manufacturing equipment and pilot plant			25 years
Buildings			40 years

Land is non-amortizing. Computer equipment and software includes an immaterial amount of internal use software. Major additions and improvements are capitalized, while replacements, repairs, and maintenance that do not extend the life of an asset are charged to expenses.

Upon retirement or sale, the cost of assets disposed and the related accumulated depreciation or amortization are removed from the accounts and any resulting gain or loss is charged to income or loss from operations. Costs incurred to acquire, construct or install property, plant, and equipment during the construction stage of a capital project and costs capitalized in conjunction with major improvements that have not yet been placed in service are recorded as construction in progress, and accordingly are not currently being depreciated. The Company capitalizes stock-based compensation expenses and interest cost incurred on funds used to construct property, plant and equipment.

Intangible Assets

Intangible assets are recorded at cost and are amortized using the straight-line method over the estimated useful lives of the respective assets, ranging from 7 to 15 years. The cost of servicing the Company’s patents is expensed as incurred. Upon retirement or sale, the cost of intangible assets is disposed of and the related accumulated amortization is removed from the accounts.


(in thousands)	September 30, 2024		December 31, 2023
Patents	$	405	$	413
Less accumulated amortization	(317)		(292)
Total intangible assets	$	88	$	121

The weighted average remaining useful life of the patents was 2.66 years. For the three and nine months ended September 30, 2024 and 2023, amortization expense was immaterial and annual amortization expense over the remaining useful life is not expected to be material.

Impairment of Long-Lived Assets

The Company reviews its long-lived assets, including property, equipment, software and intangibles, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. If indicators of impairment exist, management identifies the asset group which includes the potentially impaired long-lived asset, at the lowest level at which there are separate, identifiable cash flows. If the total of the expected undiscounted future net cash flows for the asset group is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. As of September 30, 2024, the Company evaluated the costs capitalized for Origin 2 as it concluded it will not construct a plant on the land owned in Geismar, Louisiana. The capitalized costs specific to the Louisiana site, excluding the land, were deemed not recoverable. These costs totaled $12.3 million and the loss was recorded in impairment of assets on the unaudited condensed consolidated statements of operations and comprehensive (loss) income during the three and nine months ended September 30, 2024. (See Note 6 “Property, Plant, and Equipment” for additional details). Management believes the remaining Origin 2 capitalized costs of $31.8 million approximate the fair value as of September 30, 2024.

Common Stock Warrants Liability

The Company assumed 24,149,960 public warrants (the “Public Warrants”) and 11,326,667 private placement warrants (the “Private Placement Warrants”, and the Public Warrants together with the Private Placement Warrants, the “Common Stock Warrants” or “Warrants”) upon the Merger, all of which were issued in connection with Artius’ initial public offering and entitle each holder to purchase one share of Class A common stock at an exercise price of at $11.50 per share. As of September 30, 2024, 24,149,960 Public Warrants and 11,326,667 Private Placement Warrants are outstanding. The Public Warrants are publicly traded and are exercisable for cash unless certain conditions occur, such as the failure to have an effective registration statement related to the shares issuable upon exercise or redemption by the Company under certain conditions, at which time the Public Warrants may be cashless exercised. The Private Placement Warrants are transferable, assignable or salable in certain limited exceptions. The Private Placement Warrants are exercisable for cash or on a cashless basis, at the holder’s option, and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will cease to be Private Placement Warrants, and become Public Warrants and be redeemable by the Company and exercisable by such holders on the same basis as the other Public Warrants. There were no Private Placement Warrants that became Public Warrants as of September 30, 2024.

The Company evaluated the Common Stock Warrants under ASC 815-40, Derivatives and Hedging-Contracts in Entity’s Own Equity (“ASC 815-40”), and concluded they do not meet the criteria to be classified in stockholders’ equity. Specifically, the exercise of the Common Stock Warrants may be settled in cash upon the occurrence of a tender offer or exchange that involves 50% or more of our Class A stockholders. Because not all of the voting stockholders need to participate in such tender offer or exchange to trigger the potential cash settlement and the Company does not control the occurrence of such an event, the Company concluded that the Common Stock Warrants do not meet the conditions to be classified in equity. Since the Common Stock Warrants meet the definition of a derivative under ASC 815, the Company recorded these Warrants as liabilities on the unaudited condensed consolidated balance sheets at fair value, with subsequent changes in their respective fair values recognized in the change in fair value of common stock warrant liabilities within the unaudited condensed consolidated statements of operations and comprehensive (loss) income at each reporting date. The Public Warrants were publicly traded and thus had an observable market price to estimate fair value, and the Private Placement Warrants were effectively valued similar to the Public Warrants, as described in Note 5 “Fair Value Measurement”.

Earnout Liability

The Company has recorded an earnout liability related to future contingent equity shares related to the Merger (Note 9 “Earnout Liability”). The Company recorded these instruments as liabilities on the unaudited condensed consolidated balance sheets at fair value, with subsequent changes in their respective fair values recognized in earnings at each reporting date.

Leases

We determine if an arrangement is a lease at inception. Where an arrangement is a lease, we determine if it is an operating lease or a finance lease. The Company has leases for office space and equipment, some of which have escalating rentals during the initial lease term and during subsequent optional renewal periods. The Company accounts for its leases under ASC 842, Leases. The Company recognizes a right-of-use (“ROU”) asset and lease liability for leases based on the net present value of future minimum lease payments. Lease expense is recognized on a straight-line basis over the non-cancelable lease term and renewal periods that are considered reasonably certain to be exercised.

Revenue Recognition

Our revenues are from product sales and service agreements. The majority of our contracts with customers typically contain multiple products and services. We account for individual products and services separately if they are distinct—that is, if a product or service is separately identifiable from other items in the contract and if a customer can benefit from it on its own or with other resources that are readily available to the customer.

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or service to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In determining the appropriate amount of revenue to be recognized as we fulfill our obligations under our product revenue and service agreements, we perform the following steps:

1.Identifying the contract with a customer;

2.Identifying the performance obligations in the contract;

3.Determining the transaction price;

4.Allocating the transaction price to the performance obligations; and

5.Recognizing revenue when, or as, the performance obligations are satisfied.

We account for a contract with a customer when there is approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Non-cancellable purchase orders received from customers to deliver a specific quantity of product, when combined with our order confirmation, in exchange for future consideration, create enforceable rights and obligations on both parties and constitute a contract with a customer.

Our service agreements are customized, specified, and often include various stages at which transaction prices are agreed to. These service agreements often include multiple performance obligations within each stage. We identify each performance obligation at contract inception and allocate the consideration to each distinct performance obligation based on the stand-alone selling price of each performance obligation. Our services are tailored to each individual customer and

the stand-alone selling prices are not directly observable. As our service agreements include customers that are not in similar geographic markets and for different services, therefore the Company uses the expected cost plus margin approach to estimate the stand-alone selling price for each of our performance obligations. We recognize revenue from the service agreements over the period during which the services are performed and recognize the associated costs as they are incurred.

In general, we recognize revenue when, or as, our performance obligations under the terms of a contract with our customer are satisfied. For product sales, this happens when we transfer control of our products and risk of loss to the customer or when title passes upon shipment. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring our products. Taxes collected from customers and remitted to governmental authorities are excluded from revenues. The Company recognizes its revenue from direct product sales which is recognized at a point in time when the performance obligation is satisfied upon delivery of the product.

For service agreements, the timing of satisfying performance obligations may differ from the timing of the invoicing of customers and the receipt of customer payments. The Company records a receivable prior to payment if there is an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records contract liability (deferred income) until the performance obligations are satisfied.

Revenue is recorded in an amount that reflects that consideration we expect to be entitled to in exchange for those goods or services. We have elected to treat shipping and handling activities as fulfillment costs.

Cost of revenues

Cost of revenues for product sales consists primarily of cost associated with the purchase of finished goods. Cost of revenues for service agreements is based on the actual cost incurred, which mainly consists of the direct cost from vendors and overhead costs such as payroll and benefit related to our employees who provide the services to customers.

Research and Development Cost

Costs related to research and development are expensed as incurred.

Stock-Based Compensation

The Company has issued common stock awards under three equity incentive plans. Origin measures stock options and other stock-based awards granted to employees, directors and other service providers based on their fair value on the date of grant and recognizes compensation expenses of those awards over the requisite service period, which is generally the vesting period of the respective award. In addition, the Company capitalizes stock-based compensation related to employees whose costs are necessary to bring the asset to its intended use. For awards with performance conditions, compensation is recorded once there is sufficient objective evidence the performance conditions are considered probable of being met. Origin applies the straight-line method of expense recognition to all awards with only service-based vesting conditions. Origin estimates the fair value of each stock option grant on the date of grant using the Black-Scholes option-pricing model and the grant date closing stock price for RSU awards and performance awards. The Black-Scholes option-pricing model requires the use of highly subjective assumptions including:

•Expected term – The expected term of the options is based on the simplified method, which takes into consideration the grant’s contractual life and vesting period and assumes that all options will be exercised between the vesting date and the contractual term of the option which averages an award’s vesting term and its contractual term.

•Expected volatility – The Company uses the trading history of various companies in its industry sector in determining an estimated volatility factor.

•Expected dividend – The Company has not declared common stock dividends and does not anticipate declaring any common stock dividends in the foreseeable future.

•Forfeiture – The Company estimates forfeitures based on historical activity and considers voluntary and involuntary termination behavior as well as analysis of actual historical option forfeitures, netting the estimated expense by the derived forfeiture rate.

•Risk-free interest rate – The Company bases the risk-free interest rate on the implied yield currently available on U.S. Treasury zero-coupon issues with the same or substantially equivalent remaining term.

Workforce Reduction Costs

In September 2024, we announced a workforce reduction of approximately 28% of our total workforce to realign and optimize our workforce requirements in alignment with our refined corporate strategy. The Company aims to focus on an increasing near-term demand for our PET caps and affected an organizational realignment to redirect, and in some cases reduce, existing resources from non-PET cap research programs with potential longer-term economic benefits to accelerate near-term, higher-margin revenue opportunities from PET caps. Workforce reduction costs primarily consisted of severance and benefits costs associated with the workforce reduction in September 2024 (see Note 12 “Stockholders’ Equity”). As of September 30, 2024, we do not expect to record any significant future charges related to the workforce reduction plan.

Income Taxes

Deferred income taxes are determined using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is recorded when the expected recognition of a deferred income tax asset is considered to be unlikely.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties related to income tax matters as a component of income tax expense.

Functional Currency Translation

The functional currency of the Company’s wholly-owned Canadian subsidiaries is the Canadian dollar, whereby their assets and liabilities are translated at period-end exchange rates except for non-monetary capital transactions and balances, which are translated at historical rates. All income and expense amounts of the Company are translated at average exchange rates for the respective period. Translation gains and losses are not included in determining net (loss) income but are accumulated in a separate component of stockholders’ equity. Foreign currency transaction gains and losses are included in the determination of net (loss) income in the period in which they occur. These amounts are included in other (expenses) income, net, on the unaudited condensed consolidated statements of operations and comprehensive (loss) income.

Comprehensive (Loss) Income

The Company’s comprehensive (loss) income consists of net (loss) income and other comprehensive income (loss). Foreign currency translation gains or losses and unrealized gains or losses on available-for-sale marketable debt securities are included in the Company’s other comprehensive income (loss).

Basic and Diluted Net (Loss) Income Per Share

Basic net (loss) income per common share is calculated by dividing the net (loss) income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net (loss) income per share is computed by dividing the net (loss) income attributable to common stockholders by the weighted-average number of common stock and potentially dilutive securities outstanding for the period. For the purposes of the diluted net (loss) income per share calculation, common stock options, RSU awards, performance stock awards, warrants, earnout shares, and Sponsor Vesting Shares (as defined in Note 9 “Earnout Liability”) are considered to be potentially dilutive securities. For the periods presented that the Company has reported a net loss, diluted net loss per common share is the same as basic net loss per common share for those periods.

Segment Reporting

The Company operates in a single segment. Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The Company has determined that its Co-Chief Executive Officers are the CODM. As of September 30, 2024, the Company’s CODM has made such decisions and assessed performance at the Company level.

As of September 30, 2024 and December 31, 2023, the Company had $216.4 million and $206.1 million, respectively, of assets located outside of the United States.

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Matt Plavan [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 13, 2024, Matt Plavan, our Chief Financial Officer, entered into a pre-arranged stock trading plan, which expires on December 31, 2025 and provides for the sale of up to 250,000 shares of our common stock.
Name	Matt Plavan
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 13, 2024
Expiration Date	December 31, 2025
Arrangement Duration	474 days
Aggregate Available	250,000	250,000
Joshua Lee [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 13, 2024, Joshua Lee, our General Counsel, entered into a pre-arranged stock trading plan, which expires on November 21, 2025 and provides for the sale of up to 60,000 shares of our common stock.
Name	Joshua Lee
Title	General Counsel
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 13, 2024
Expiration Date	November 21, 2025
Arrangement Duration	434 days
Aggregate Available	60,000	60,000

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes is recorded at the end of each interim period based on the Company’s best estimate of its effective income tax rate expected to be applicable for the full fiscal year, adjusted for any discrete items during the quarter. The Company has recorded an income tax provision of $0.2 million and $0.4 million during the three and nine months ended September 30, 2024, respectively, and $0.1 million and $0.2 million during the three and nine months ended September 30, 2023, respectively. The 2024 provision relates to foreign income taxes in Canada and the 2023 provision relates to foreign withholding taxes. Other than Canadian income taxes and foreign withholding taxes, there is no provision for income taxes because the U.S. Company has incurred operating losses since inception. The Company’s effective income tax rate was (0.63)% and (0.58)% for the three and nine months ended September 30, 2024, respectively and 0.30% and 0.65% for the three and nine months ended September 30, 2023, respectively. The Company continues to maintain a full valuation allowance on its net deferred tax assets in the U.S.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant, and equipment consisted of the following:


(in thousands)	September 30, 2024		December 31, 2023
Land	$	11,341	$	11,356
Land improvements and infrastructure	62,145		62,930
Manufacturing equipment and pilot plant	117,652		116,754
Computer equipment and software	2,759		1,629
Lab equipment	3,649		3,468
Furniture, fixtures, and machinery	5,160		1,094



Total	202,706		197,231
Less accumulated depreciation and amortization	(15,288)		(8,136)
Construction in process	35,340		54,023
Total property, plant, and equipment, net	$	222,758	$	243,118

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Balance beginning (in shares) at Dec. 31, 2022		143,034,225
Balance beginning at Dec. 31, 2022	$ 376,905	$ 14	$ 371,072	$ 21,772	$ (15,953)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued upon exercise of stock options (in shares)		163,096
Common stock issued upon exercise of stock options	23		23
Vested common stock awards (in shares)		70,670
Stock-based compensation	2,915		2,915
Net income (loss)	9,769			9,769
Other comprehensive income (loss)	1,530				1,530
Ending balance (in shares) at Mar. 31, 2023		143,267,991
Ending balance at Mar. 31, 2023	391,142	$ 14	374,010	31,541	(14,423)
Balance beginning (in shares) at Dec. 31, 2022		143,034,225
Balance beginning at Dec. 31, 2022	376,905	$ 14	371,072	21,772	(15,953)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	34,236
Other comprehensive income (loss)	3,723
Ending balance (in shares) at Sep. 30, 2023		144,198,529
Ending balance at Sep. 30, 2023	424,087	$ 14	380,295	56,008	(12,230)
Balance beginning (in shares) at Mar. 31, 2023		143,267,991
Balance beginning at Mar. 31, 2023	391,142	$ 14	374,010	31,541	(14,423)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued upon exercise of stock options (in shares)		208,807
Common stock issued upon exercise of stock options	31		31
Vested common stock awards (in shares)		21,926
Stock-based compensation	3,018		3,018
Net income (loss)	(6,464)			(6,464)
Other comprehensive income (loss)	4,776				4,776
Ending balance (in shares) at Jun. 30, 2023		143,498,724
Ending balance at Jun. 30, 2023	392,503	$ 14	377,059	25,077	(9,647)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued upon exercise of stock options (in shares)		582,240
Common stock issued upon exercise of stock options	90		90
Vested common stock awards (in shares)		117,565
Stock-based compensation	3,146		3,146
Net income (loss)	30,931			30,931
Other comprehensive income (loss)	(2,583)				(2,583)
Ending balance (in shares) at Sep. 30, 2023		144,198,529
Ending balance at Sep. 30, 2023	424,087	$ 14	380,295	56,008	(12,230)
Balance beginning (in shares) at Dec. 31, 2023		145,706,531
Balance beginning at Dec. 31, 2023	422,507	$ 15	382,854	45,570	(5,932)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued upon exercise of stock options (in shares)		585,760
Common stock issued upon exercise of stock options	83		83
Vested common stock awards (in shares)		212,633
Stock-based compensation	2,781		2,781
Net income (loss)	(13,913)			(13,913)
Other comprehensive income (loss)	(3,274)				(3,274)
Ending balance (in shares) at Mar. 31, 2024		146,504,924
Ending balance at Mar. 31, 2024	408,184	$ 15	385,718	31,657	(9,206)
Balance beginning (in shares) at Dec. 31, 2023		145,706,531
Balance beginning at Dec. 31, 2023	422,507	$ 15	382,854	45,570	(5,932)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(70,175)
Other comprehensive income (loss)	(1,497)
Ending balance (in shares) at Sep. 30, 2024		145,886,615
Ending balance at Sep. 30, 2024	358,856	$ 15	390,875	(24,605)	(7,429)
Balance beginning (in shares) at Mar. 31, 2024		146,504,924
Balance beginning at Mar. 31, 2024	408,184	$ 15	385,718	31,657	(9,206)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued upon exercise of stock options (in shares)		499,365
Common stock issued upon exercise of stock options	158		158
Vested common stock awards (in shares)		206,049
Stock-based compensation	2,536		2,536
Net income (loss)	(19,499)			(19,499)
Other comprehensive income (loss)	(741)				(741)
Ending balance (in shares) at Jun. 30, 2024		147,210,338
Ending balance at Jun. 30, 2024	390,638	$ 15	388,412	12,158	(9,947)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued upon exercise of stock options (in shares)		8,509
Common stock issued upon exercise of stock options	$ 4		4
Vested common stock awards (in shares)		167,768
Sponsor vesting shares forfeited (in shares)	(1,500,000)
Stock-based compensation	$ 2,459		2,459
Net income (loss)	(36,763)			(36,763)
Other comprehensive income (loss)	2,518				2,518
Ending balance (in shares) at Sep. 30, 2024		145,886,615
Ending balance at Sep. 30, 2024	$ 358,856	$ 15	$ 390,875	$ (24,605)	$ (7,429)

Revenues	9 Months Ended
Revenues	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues We recognize revenues when, or as, our performance obligations under the terms of a contract with our customer are satisfied. We generally procure, will produce, and sell product to be utilized in the manufacturing of finished products, for which we recognize revenue upon shipment. Currently, the majority of our revenue is generated from the supply chain activation program in which the Company purchases materials from various vendors and sells them to our customers for a moderate margin as we establish the logistics and invoicing capabilities for our own products. Our service contracts generally pay us at the commencement of the agreement and then at additional intervals as outlined in each contract. We recognize contract liabilities for such payments and then recognize revenue as we satisfy the related performance obligations. To the extent collectible revenue recognized under this method exceeds the consideration received, we recognize contract assets for such unbilled consideration. We recognize revenue from the service agreements over the period during which the services are performed. The Company did not receive payment before the provision of services during the three and nine months ended September 30, 2024 and 2023. Therefore, deferred income was zero.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Common Stock Warrants	9 Months Ended
Common Stock Warrants	Sep. 30, 2024
Assumed Common Stock Warrants [Abstract]
Common Stock Warrants	Common Stock Warrants As of September 30, 2024 and December 31, 2023 there are 35,476,627 warrants outstanding. As part of Artius’s initial public offering, 24,149,960 Public Warrants were sold. The Public Warrants entitle the holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustments. The Public Warrants may be exercised only for a whole number of shares of Common Stock. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants will expire on June 25, 2026 at 5:00p.m., New York City time, or earlier upon redemption or liquidation. The Public Warrants are listed on the Nasdaq under the symbol “ORGNW.” The Company may redeem the Public Warrants when exercisable, in whole and not in part, at a price of $0.01 per warrant, so long as the Company provides not less than 30 days’ prior written notice of redemption to each warrant holder, and if, and only if, the reported last sale price of the Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date the Company sends the notice of redemption to the warrant holders. Simultaneously with Artius’s initial public offering, Artius consummated a private placement of 11,326,667 Private Placement Warrants with the Sponsor. The Private Placement Warrant is exercisable for one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment. The Private Placement Warrant expires on June 25, 2026 or earlier upon redemption or liquidation. The Private Placement Warrants are identical to the Public Warrants, except that: (1) the Private Placement Warrants and the shares of Class A Common Stock issuable upon exercise of the Private Placement Warrants are not transferable, assignable or salable until the earliest to occur of: (i) 365 days after the date of the Closing; (ii) the first day after the date on which the closing price of the Public Shares (or any successor securities thereto) equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the date of the Closing; or (iii) the date on which Artius completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of Artius’s Public Shareholders having the right to exchange their Public Shares (or any successor securities thereto) for cash, securities or other property, subject to certain limited exceptions, (2) the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable, except if the reference value equals or exceeds $10.00 and is less than $18.00 (as described above), so long as they are held by the initial purchasers or their permitted transferees, and (3) the Private Placement Warrants and the Class A ordinary shares issuable upon exercise of the Private Placement Warrants will be entitled to registration rights. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable under all redemption scenarios by the Company and exercisable by such holders on the same basis as the Public Warrants. The Company concluded the Public Warrants and Private Placement Warrants, or Common Stock Warrants, meet the definition of a derivative under ASC 815 and are recorded as liabilities. Upon consummation of the Merger, the fair value of the Common Stock Warrants was recorded on the unaudited condensed consolidated balance sheets. The fair value of the Common Stock Warrants was remeasured on the September 30, 2024 and December 31, 2023 on the unaudited condensed consolidated balance sheets at $4.3 million and $1.3 million, respectively. A loss of $2.3 million and $2.9 million during the three and nine months ended September 30, 2024, respectively, and a gain of $22.8 million and $27.4 million during the three and nine months ended September 30, 2023, respectively, was recorded on the unaudited condensed consolidated statements of operations and comprehensive (loss) income.

Fair Value Measurement

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows:


	Fair Value as of September 30, 2024
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	$	40,083	$	—	$	—	$	40,083
Marketable securities	—		56,996		—		56,996
Derivative asset	—		11		—		11
Total fair value	$	40,083	$	57,007	$	—	$	97,090
Liabilities:
Common stock warrants (Public)	$	2,896	$	—	$	—	$	2,896
Common stock warrants (Private Placement)	—		1,358		—		1,358
Earnout liability	—		—		4,184		4,184
Derivative liability	—		49		—		49
Total fair value	$	2,896	$	1,407	$	4,184	$	8,487


	Fair Value as of December 31, 2023
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	75,502	$	—	$	—	$	75,502
Marketable securities	—		82,761		—		82,761

Total fair value	$	75,502	$	82,761	$	—	$	158,263
Liabilities:
Common stock warrants (Public)	$	913	$	—	$	—	$	913
Common stock warrants (Private Placement)	—		428		—		428
Earnout liability	—		—		1,783		1,783
Derivative liability	—		300		—		300
Total fair value	$	913	$	728	$	1,783	$	3,424

The Company performs routine procedures such as comparing prices obtained from independent sources to ensure that appropriate fair values are recorded. The cash, cash equivalents and Public Warrants are categorized as Level 1 instruments as the fair value was determined based on the unadjusted quoted prices are available in active markets for identical assets or liabilities as of the reporting date. The marketable securities, derivative asset and derivative liability are categorized as Level 2 instruments as the estimated fair value was determined based on the estimated or actual bids and offers of the marketable securities in an over-the-counter market on the last business day of the period. The Warrants are classified within Level 1 or Level 2 because the transfer of Private Placement Warrants to anyone outside of certain permitted transferees of Artius Acquisition Partners LLC (the “Sponsor”) would result in the Private Placement Warrants having substantially the same terms as the Public Warrants, the Company determined that the fair value of each Private Placement Warrant is consistent with that of a Public Warrant. Accordingly, the Private Placement Warrants are classified as Level 2 financial instruments.

The value of the earnout liability is classified as Level 3 measurements under the fair value hierarchy, as these liabilities have been valued based on significant inputs not observable in the market (see Note 9 “Earnout Liability”). A loss of $2.9 million and $2.4 million during the three and nine months ended September 30, 2024, respectively, and a gain of $18.8 million and $39.1 million during the three and nine months ended September 30, 2023, respectively, was recorded on the unaudited condensed consolidated statements of operations and comprehensive (loss) income in the (loss) gain in fair value of earnout liability.

The following table summarizes the activities for the earnout liability:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Balance at beginning of period	$	1,243	$	22,386	$	1,783	$	42,533
Loss (gain) in fair value of earnout liability	2,941		(18,757)		2,401		(39,137)
Other	—		—		—		233
Balance at end of period	$	4,184	$	3,629	$	4,184	$	3,629

As of September 30, 2024 and December 31, 2023, the carrying values of accounts receivable and unbilled receivable, other receivables, accounts payable, and accrued expenses approximate their respective fair values due to their short-term nature. We have determined the fair value of notes payable approximates the carrying value due to the standard terms of the arrangement including but not limited to the amount borrowed, the term, and the interest rate.

Marketable Securities

The Company’s marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. Amortized cost net of unrealized gain (loss) is equal to fair value. The following table summarized the marketable securities by major security type as follows:


	As of September 30, 2024
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	1,097	$	—	$	—	$	1,097
Corporate bonds	7,781		42		(20)		7,803
Asset-backed securities	38,935		78		(1,262)		37,751
U.S. government and agency securities	9,996		23		(21)		9,998
Foreign government and agency securities	372		—		(25)		347



Total marketable securities	$	58,181	$	143	$	(1,328)	$	56,996


	As of December 31, 2023
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

Corporate bonds	$	21,869	$	26	$	(847)	$	21,048
Asset-backed securities	52,199		26		(2,289)		49,936
U.S. government and agency securities	11,706		—		(270)		11,436
Foreign government and agency securities	372		—		(31)		341



Total marketable securities	$	86,146	$	52	$	(3,437)	$	82,761

The realized gains and losses are included in other (expenses) income, net on the unaudited condensed consolidated statements of operations and comprehensive (loss) income.

We sold marketable securities for proceeds of $1,456.5 million and $3,057.7 million during the nine months ended September 30, 2024 and 2023, respectively. As a result of those sales, we realized a loss of $0.4 million and $0.4 million during the three and nine months ended September 30, 2024, respectively, and a gain of $2.4 million and $1.7 million during the three and nine months ended September 30, 2023, respectively. We regularly review our available-for-sale marketable securities in an unrealized loss position and evaluate the current expected credit loss by considering factors such as historical experience, market data, issuer-specific factors, and current economic conditions. The aggregate fair value of the marketable securities in an unrealized loss position was $39.7 million and $73.2 million as of September 30, 2024 and December 31, 2023, respectively. The unrealized losses were attributable to changes in interest rates that impacted the value of the investments, and not related to increased credit risk. Accordingly, we have not recorded an allowance for credit losses associated with these investments.

The contractual maturities of the investments classified as marketable securities are as follows:


	As of September 30, 2024
(in thousands)	Mature within one year		Mature after one year through two years		Mature over two years		Fair Value
Commercial paper	$	1,097	$	—	$	—	$	1,097
Corporate bonds	2,654		3,979		1,170		7,803
Asset-backed securities	243		—		37,508		37,751
U.S. government and agency securities	7,968		—		2,030		9,998
Foreign government and agency securities	347		—		—		347



Total marketable securities	$	12,309	$	3,979	$	40,708	$	56,996


	As of December 31, 2023
(in thousands)	Mature within one year		Mature after one year through two years		Mature over two years		Fair Value

Corporate bonds	$	20,756	$	292	$	—	$	21,048
Asset-backed securities	238		1,806		47,892		49,936
U.S. government and agency securities	8,929		—		2,507		11,436
Foreign government and agency securities	341		—		—		341



Total marketable securities	$	30,264	$	2,098	$	50,399	$	82,761

Derivative Asset and Liabilities

The Company entered into foreign currency derivative contracts with financial institutions to reduce foreign exchange risk related to certain marketable securities denominated in foreign currency. Foreign currency derivative contracts are marked-to-market at the end of each reporting period with gains and losses recognized as other income (expenses). The Company recognized a loss of less than $0.1 million and a net gain of $0.2 million during the three and nine months ended September 30, 2024, respectively, and a net gain of $0.1 million and $0.6 million during the three and nine months ended September 30, 2023, respectively, on the fair value adjustment of the foreign currency derivative contracts. The notional amount of foreign currency derivative contracts as of September 30, 2024 and December 31, 2023 was $5.5 million and $14.7 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details