Wall Street expects a year-over-year decline in earnings on lower revenues when Codexis (CDXS) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move low ...

REDWOOD CITY, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced that Byron Dorgan will retire from the Company’s Board of Directors when his current term ends at the 2025 Annual Meeting of Stockholders. Mr. Dorgan joined the Board in 2011, served as Chairman from 2021 through 2024, and currently serves as the Chair of the Nominating and Corporate Governance Committee. He wi ...

Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "design," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "positioned," "potential," "predict," "s ...

Core Insights - Codexis, Inc. has announced its first revenue-generating contract to manufacture siRNA material in its ECO Synthesis™ Innovation Lab, marking a significant milestone in its operations [1] - The company has successfully developed the first generation of its core ECO Synthesis™ enzymes, meeting criteria for scaling to industrial capacity [2] - CEO Stephen Dilly expressed excitement over the contract and highlighted the successful development of a suite of enzymes that can drive the ECO Synthesis™ platform at an industrial scale [3] Company Overview - Codexis is a leading provider of enzymatic solutions aimed at efficient and scalable therapeutics manufacturing, utilizing its proprietary CodeEvolver® technology platform [4] - The company is focused on developing its ECO Synthesis™ manufacturing platform to enable the large-scale production of RNAi therapeutics through an enzymatic route, which offers advantages such as higher yields and reduced energy usage [4]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $21.5 million, including product revenue of $9.8 million and R&D revenue of $11.6 million [29] - Revenue for the year ended December 31, 2024, was $59.3 million, down from $62 million in the prior year [31] - The net loss for Q4 2024 was $10.4 million, compared to $15.3 million for Q4 2023, while the net loss for the year was $65.3 million, down from $84.4 million in the prior year [37] Business Line Data and Key Metrics Changes - The company has made significant progress in its Pharma Biocatalysis business, focusing on expanding its reach to mid-tier pharma and large biotech segments [12] - The ECO Synthesis platform is expected to achieve commercial liftoff in 2025, transitioning from development to commercial execution [11][10] - Product gross margin was 63% in Q4 2024, down from 71% in Q4 2023, and 56% for the year, compared to 63% the prior year [34] Market Data and Key Metrics Changes - The company is seeing increased customer engagement for its RNA ligase and ECO Synthesis platforms, with multiple feasibility studies completed with leading siRNA innovator companies [9] - The company aims to secure a CDMO scale-up partner in 2025 to facilitate larger scale manufacturing for clinical trials and commercial production [21] Company Strategy and Development Direction - The company is focused on repositioning for growth, with expectations for improved revenue growth in 2025 as its ligase and ECO services platform matures [32] - The strategy includes building a full-service development and manufacturing offering to capture the emerging drug innovator market [22] - The company plans to simplify its revenue guidance by providing a single annual revenue range encompassing the full scope of its business [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress made over the past year, particularly in returning the pharma manufacturing business to a growth trajectory [6] - The company anticipates that 2025 will be a pivotal year for the ECO Synthesis platform, with significant revenue growth expected in the second half of the year [40] - Management highlighted the importance of demonstrating the utility of the ECO platform to drive adoption among large drug developers [45] Other Important Information - The company ended 2024 with $73.5 million in cash, cash equivalents, and short-term investments, expected to fund operations until achieving cash flow positivity by the end of 2026 [40] - The company is actively working on establishing a raw material supply chain, which is critical for customer adoption of its services [24] Q&A Session Summary Question: What will drive the value proposition in rare disease markets? - Management believes both validated platforms and successful case studies from larger indications will drive interest in rare disease markets [58] Question: How will the company communicate progress to the market? - The company will carefully balance communication of progress while maintaining confidentiality with partners [62] Question: Can you elaborate on the customer pipeline and revenue conversion? - The relationships with customers are multifaceted, and conversations often evolve from one service to another, making it difficult to categorize them neatly [71] Question: What are the expectations for gross margins in 2025? - The company aims to improve gross margins year-over-year and is actively working to retire lower-margin products [85] Question: How will the GMP facility impact cash flow guidance? - The GMP facility is still in planning phases, and more visibility on costs will be available in the summer [91] Question: Will the company consider alternative payment structures with cash-strapped innovators? - The company is open to sensible upfront payments in exchange for back-end economics, recognizing the financial constraints of smaller innovators [125]

Core Viewpoint - Codexis reported a quarterly loss of $0.13 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.02, marking an earnings surprise of -550% [1] - The company’s revenues for the quarter were $21.46 million, missing the consensus estimate by 26.65% and down from $26.56 million a year ago [2] Financial Performance - Over the last four quarters, Codexis has surpassed consensus EPS estimates only once [2] - The company has topped consensus revenue estimates three times in the last four quarters [2] - Year-to-date, Codexis shares have declined by approximately 12.8%, contrasting with a 1.3% gain in the S&P 500 [3] Future Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call [3] - Current consensus EPS estimate for the upcoming quarter is -$0.16 on revenues of $13.49 million, and for the current fiscal year, it is -$0.66 on revenues of $65.26 million [7] - The estimate revisions trend for Codexis is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Codexis belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No.: 001-34705 Codexis, Inc. (Exact name of registrant as specified in its charter) Delaware 71-0872999 (State or other jurisdiction of incor ...

Exhibit 99.1 Codexis Reports Fourth Quarter and Fiscal Year 2024 Financial Results Total revenue of $59.3 million for the fiscal year ended December 31, 2024 Expect double digit growth for total revenue in 2025 2025 to demonstrate acceleration of commercial growth through double-stranded RNA ligase and GLP-grade siRNA material; expect to secure GMP scale-up partner REDWOOD CITY, Calif., February 27, 2025 — Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable the ...

Core Insights - Codexis, Inc. reported total revenue of $59.3 million for the fiscal year ended December 31, 2024, with expectations for double-digit growth in 2025 [1][8] - The company anticipates an acceleration of commercial growth through its ECO Synthesis™ platform and aims to secure a GMP scale-up partner [1][2] Financial Performance - Total revenues for fiscal year 2024 decreased by 4% compared to $62.0 million in fiscal year 2023, excluding enzyme sales related to PAXLOVID™ [8] - Product revenues increased by 6% to $36.8 million for fiscal year 2024 compared to $34.8 million in fiscal year 2023, excluding enzyme sales related to PAXLOVID™ [8] - R&D revenues for fiscal year 2024 were $22.6 million, down from $27.2 million in fiscal year 2023, primarily due to lower non-recurring items [8] - The net loss for fiscal year 2024 was $65.3 million, or $0.89 per share, compared to a net loss of $76.2 million, or $1.12 per share, for fiscal year 2023 [8] Recent Developments - Codexis completed the build-out of its ECO Synthesis™ Innovation Lab in December 2024, enabling the provision of analytical and process development services [3] - The company appointed Arthur Levin, PhD, to its Strategic Advisory Board in February 2025, bringing extensive experience in oligonucleotide development [3] - In October 2024, Codexis announced the licensing of a genomics life science enzyme portfolio to Alphazyme, LLC, which includes several key enzymes [3] Upcoming Initiatives - Codexis plans to sign its first development contract for ECO Synthesis™ manufacturing services in the first half of 2025 [8] - The company expects to achieve pilot scale production of GLP-grade siRNA material using the ECO Synthesis™ Innovation Lab in 2025 [8] - Codexis anticipates hosting presentations at the 2025 TIDES USA and TIDES Europe annual meetings to showcase the capabilities of its ECO Synthesis™ platform [8]

REDWOOD CITY, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced the Company will attend the TD Cowen 45th Annual Health Care Conference, being held March 3-5, 2025, in Boston, Massachusetts. Management will participate in a fireside chat on Tuesday, March 4, 2025, at 1:10 pm ET. A live webcast of the event will be available in the Investor Relations section of the Company’s ...