---
schema_version: "secwatch.filing_event.v1"
accession: "0001200375-23-000017"
form_type: "8-K"
ticker: "CDXS"
cik: "0001200375"
company_name: "CODEXIS, INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T20:42:02.354748+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001200375-23-000017
- form_type: 8-K
- ticker: CDXS
- cik: 0001200375
- company_name: CODEXIS, INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000017/0001200375-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000017/cdxs-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001200375-23-000017
- JSON: https://secwatch.observer/filing/0001200375-23-000017.json
- Plain text: https://secwatch.observer/filing/0001200375-23-000017.txt

## Key facts
- Earnings Releases
  CODEXIS, INC. updated its fiscal year 2023 guidance (reaffirmed).
  - Period: fiscal year 2023
  - Guidance: reaffirmed
  - Result: guidance update
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000017/0001200375-23-000017-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1200375/000120037523000017/0001200375-23-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.