Codexis reports Q4 net loss $7.2M; FY2023 net loss $76.2M; guides 2024 product rev $38-42M ex-PAXLOVID

CODEXIS, INC.

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

Q4 net loss $7.2M ($0.10/sh); FY2023 net loss $76.2M ($1.12/sh). Excl PAXLOVID & impairment, adj FY net loss $50.8M ($0.74/sh).
FY2023 total rev $70.1M (incl PAXLOVID); ex-PAXLOVID rev $62.0M (-2% YoY). Product rev ex-PAXLOVID $34.8M (-16% YoY).
Q4 total rev $26.6M; ex-PAXLOVID rev $18.4M (+42% YoY). R&D rev $8.5M.
2024 guidance: Product rev $38-42M ex-PAXLOVID, R&D rev $18-22M, product GM 58-63%. Cash runway to positive CF around end-2026.
Recent deals: Nestlé up to $45M milestones for CDX-7108; $40M Innovatus loan; Roche exclusive license for dsDNA ligase.

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