Codexis raises 2023 R&D revenue guidance to $25-27M, updates cash and margin outlook

CODEXIS, INC.

2023-FY EPS reported -$1.12 revenue$70,143,000

Unaudited pro forma cash ~$70M as of Dec 31, 2023; includes $5M upfront from Nestlé for CDX-7108 assignment.
2023 product revenue expected at upper end of $30M-$35M range (excl. PAXLOVID enzyme sales).
R&D revenue guidance raised to $25M-$27M from $21M-$24M, reflecting $5M Q1 payment from Nestlé.
Gross margin on product revenue guidance raised to 60%-65% from 55%-65% (excl. PAXLOVID).
Cash expected to fund operations to positive cash flow around end of 2026.

item 2.02 item 7.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

CODEXIS, INC. updated its full year 2023 guidance (reaffirmed).

Period: full year 2023
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

On January 9, 2024, Codexis, Inc. (the “Company”) reported unaudited pro forma cash and cash equivalents of approximately $70 million as of December 31, 2023

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Source: SEC EDGAR

accession 0001193125-24-004882

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