earnings
confidence high
sentiment negative
materiality 0.70
Codexis Q2 revenues fall 62% YoY to $8.0M; net loss widens; reiterates FY2024 guidance
CODEXIS, INC.
2024-Q2 EPS reported
-$0.49
revenue$25,052,000
- Q2 total revenue $8.0M vs $21.3M YoY; product rev $6.3M vs $11.0M; R&D rev $1.7M vs $10.3M.
- Net loss $22.8M ($0.32/sh) vs $11.5M ($0.17/sh); product gross margin 45% vs 71%.
- Cash $73.2M; expects to fund operations through positive cash flow around end-2026.
- FY2024 guidance reiterated: product rev $38-42M (ex-PAXLOVID), R&D rev $18-22M, product GM 58-63%.
- Received low-to-mid single-digit million-dollar dsRNA ligase order; expects first ECO Synthesis collaboration by year-end.