Davis, California, USA
May 13, 2014

• Gained EPA approval and commercially launched Venerate™ bioinsecticide
• Completed installation of two 20,000 liter fermentation tanks at our Michigan facility and initiated commercial production of fermentation products
• Re-iterates guidance to at least double revenues year-over-year

Marrone Bio Innovations, Inc. (Nasdaq:MBII), a provider of bio-based pest management and plant health products, today announced financial results for the first quarter March 31, 2014.

Financial Highlights for the First Quarter of 2014

• Revenues for the first quarter 2014 totaled $2.8 million, compared to $2.7 million for the first quarter of 2013, in-line with the company's expectations against the headwinds of severe weather in all of our growing regions
• Net loss of $10.2 million, compared to net loss of $10.7 million in the first quarter of 2013

"Our numerous achievements in the first quarter set the stage for our growth through the remainder of the year and beyond," said Pam Marrone, Chief Executive Officer of Marrone Bio Innovations. "We expanded our footprint both in North and South America, with Regalia® MAXX registered in six Latin American countries, and also submitted our biofumigant product MBI-601 for EPA registration. Marrone Bio Innovations is leading the shift toward sustainable and effective biological solutions as awareness and enthusiasm for the category continue to grow."

Recent Business Highlights

• Launched new product Venerate in the United States. Venerate controls a broad spectrum of pest insects and features multiple modes of action, a favorable environmental profile and holds an exemption from maximum residue level (MRL) tolerances.
• Completed construction of Phases 1A and 1B of the Michigan manufacturing facility which includes two 20,000 liter fermentation tanks and produced initial runs of Grandevo and Regalia.
• Increased penetration of Regalia and Grandevo® in California nut crops.
• Regalia enhanced the disease control program in canola. Achieved good results of Regalia against soil and foliar potato diseases and MBI-110 against late blight.
• Grandevo and Venerate field trials continue to show excellent control of a wide range of insect pests such as whiteflies, thrips, psyllids, aphids, fruit flies, stinkbugs and Lygus in fruits, nuts vegetables, and cotton in the U.S. and Europe.
• Haven™ protected yield by reducing sunburn on Merlot and table grapes in trials in Chile.
• Received registration for Regalia MAXX biofungicide in Peru. Peru is now the sixth country in Latin America to approve the use of Regalia MAXX for control of a wide variety of bacterial and fungal diseases in agricultural crops.
• Received a U.S. patent for Regalia biofungicide covering methods for increasing plant growth, root initiation and extension. The patent highlights MBI's capability to add unique intellectural property to in-licensed technology.
• Submitted Grandevo and Venerate for registration in Mexico. Our bioinsecticides together with Regalia MAXX biofungicide provide Mexican farmers a powerful crop protection tool that delivers the benefits of a bio-based product in an export-centric region.
• Submitted MBI-601 biofumigant pipeline product to the EPA for registration. MBI-601 controls parasitic nematodes and plant diseases in high value crops such as strawberries and tomatoes.
• Secured a license from Kao Corporation for use of an active ingredient in forthcoming MBI anti-transpirant product Haven and signed an agreement for access to several biopesticides from The New Zealand Institute for Plant & Food Research.

"Our commercial progress continued in the first quarter with expansion into new regions, the development of new customers and deeper penetration into our existing customer base," commented Chief Operating Officer Hector Absi. "Despite challenging weather conditions persisting across several different regions of the United States we are pleased with our progress and look forward to the upcoming planting season."

Chief Financial Officer, Jim Boyd commented, "After just two months with the company I am excited by the momentum of the company and the exciting growth opportunities that are in front of us. Everyone here is working tremendously hard to make this company the biological solutions leader in the agriculture industry."

Business Outlook

For the full year 2014 the Company continues to expect net revenues to at least double compared to the full year 2013. The company also expects to launch at least 1-2 new products in addition to its insecticide Venerate.

Full release

Website: http://marronebioinnovations.com/

Published: May 13, 2014