Codexis cuts FY2022 revenue guidance to $135M-$141M; preliminary Q2 revenue ~$38M

CODEXIS, INC.

2022-Q2 EPS reported -$0.17 revenue$73,746,000

Preliminary Q2 2022 total revenue ~$38M; full-year guidance reduced to $135M-$141M.
Product revenue guidance unchanged at $112M-$118M; Pfizer product now at low end of $75M-$80M range, offset by other customers.
Gross margin on product revenue maintained at 65% to 70%.
CEO cites fewer new deals and lower-than-expected R&D revenue from existing customers as reason for reduction.
Final Q2 results to be reported on August 4, 2022.

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