CDXS
Codexis, Inc.1.6800
+0.0500+3.07%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
151.74MP/E (TTM)
-Basic EPS (TTM)
-0.73Dividend Yield
0%Recent Filings
8-K
Codexis beats Q2 revenue estimates
Codexis reported Q2 2025 revenues of $15.3 million, beating analyst estimates of $14.1 million, fueled by Pharma Biocatalysis demand and a new licensing deal, while narrowing net loss to $13.3 million from $22.8 million a year ago. The company raised $27.3 million through its ATM facility and Innovatus loan to fuel ECO Synthesis expansion, highlighted by six TIDES USA presentations validating the platform's siRNA manufacturing edge. Cash stood at $66.3 million. Momentum builds.
10-Q
Q2 FY2025 results
Codexis posted Q2 FY2025 revenue of $15.3M, up 92% y/y but down 9% YTD to $22.9M, fueled by a $6.2M jump in R&D revenue from a new licensing deal and legacy pacts, while product sales rose 18% y/y to $7.4M on pricier mixes. Operating loss narrowed to $12.9M from $22.7M y/y, thanks to 72% product gross margins—double last year's—yet R&D costs climbed 21% on staffing and supplies. Cash and equivalents hit $26.8M with $39.6M in short-term investments, bolstered by $9.9M from a second Innovatus debt tranche at ~10.75% floating rate maturing 2029, alongside $16.4M net from stock sales; free cash flow not disclosed in the 10-Q. Diluted EPS of -$0.16 aligns with 85.4M weighted shares, anti-dilutive effects noted. Dependence on a handful of customers lingers as a drag.
8-K
Stockholders approve plan amendment
Codexis stockholders approved an amendment to the 2019 Incentive Award Plan at the June 10, 2025 annual meeting, adding 8 million shares for equity incentives. The vote passed with 39.9 million for and 14.3 million against, amid strong support for director elections and auditor ratification. This bolsters talent retention amid biotech pressures. Yet, dilution looms for shareholders.
8-K
Q1 revenues drop but guidance holds
Codexis reported Q1 2025 revenues of $7.5 million, down from $17.1 million in Q1 2024 due to the absence of a $6.0 million Roche licensing recognition and delayed orders, yet product gross margin improved to 55% from 49% on higher-margin sales. The company secured its first revenue-generating contract for ECO Synthesis manufacturing services in March 2025 and completed core enzyme development for scaling. Cash stood at $59.8 million, funding operations through 2026 positivity. Momentum builds in ligase business amid siRNA trends.
10-Q
Q1 FY2025 results
Codexis posted Q1 FY2025 revenue of $7.5M, down 56% y/y from $17.1M, as product sales fell 37% to $6.1M and R&D revenue dropped 80% to $1.5M, mainly from lower Roche licensing fees; yet product gross margin climbed to 55% from 49%, buoyed by a favorable mix. Operating loss widened to $20.5M from $11.9M, driven by higher R&D spend on headcount and supplies, while net loss hit $20.7M or $0.25 per diluted share on 82.4M shares, up from $11.5M or $0.16 on 69.9M shares last year—anti-dilution kept basic and diluted EPS aligned. Cash and equivalents stood at $18.3M with $41.5M in short-term investments, totaling $59.8M liquidity, against $29.2M long-term debt under the Innovatus Loan (13.1% effective rate, due 2029) with no revolver noted; operating cash burn was $13.8M. EMEA led revenue at 52%, but reliance on three customers for 66% underscores concentration risks.
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