What is Origin Materials' current financial and operational status as of Q1 2026, according to its earnings announcement?

Origin Materials reported a 91% decrease in revenue to $0.5 million in Q1 2026 compared to Q1 2025, implemented a significant workforce reduction, and discontinued its PET closures program; despite a 33% improvement in net loss to $17.7 million, the company stated it faces substantial doubt regarding its ability to continue as a going concern due to insufficient liquidity, and its board has approved a plan for liquidation and dissolution contingent on stockholder approval.

What major strategic decision did Origin Materials’ board make following its evaluation of alternatives, and what condition must be met for it to proceed?

Origin Materials’ board approved a plan for liquidation and dissolution following an evaluation of strategic alternatives, and this plan is contingent on stockholder approval.