Codexis Q1 revenue $13M (-63% YoY); net loss $22.6M; lowers product revenue guidance

CODEXIS, INC.

2023-Q1 EPS reported -$0.34 revenue$12,982,000

Q1 total revenue $13.0M (ex-PAXLOVID -8% YoY); net loss $22.6M ($0.34/share) vs $8.4M loss in Q1 2022.
Product revenue guidance lowered to $30-$35M from $35-$40M; gross margin guided 55-65% (down from prior).
R&D revenue guidance raised to $28-$33M, includes $5M non-cash Pfizer license revenue in Q2 2023.
CDX-7108 Phase 1 interim data showed improved lipid absorption; IND filing by end 2023, Phase 2 H1 2024.
Cash $102.8M at March 31, 2023; estimated runway through end of 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

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

Period: fiscal year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The Company reiterated its 2023 total revenue guidance range of $63 million to $68 million, excluding enzyme sales related to PAXLOVIDTM, with adjustments to the mix of product revenues versus R&D revenues.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CODEXIS, INC. reported first quarter ended March 31, 2023 results: revenue $13.0 million, net income $22.6 million, EPS $0.34 per share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $13.0 million
Net income: $22.6 million
EPS: $0.34 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total revenues for first quarter 2023 were $13.0 million compared to $14.0 million in the prior year, excluding enzyme sales related to PAXLOVIDTM of $0 and $21.3 million in each period, respectively.

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CODEXIS, INC. filing history →

Source: SEC EDGAR

accession 0001200375-23-000017

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