Codexis Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Codexis (NASDAQ: CDXS) reported financial results for Q4 and FY 2024, with total revenue of $59.3 million for the fiscal year, representing a 4% decrease from 2023. Product revenues increased 6% to $36.8 million, while R&D revenues were $22.6 million.
The company reported a net loss of $65.3 million ($0.89 per share) for FY 2024, improved from a $76.2 million loss in 2023. Cash position stands at $73.5 million as of December 31, 2024, bolstered by $31 million raised via ATM facility.
For 2025, Codexis expects:
- Total revenues between $64-68 million
- Double-digit growth in total revenue
- Acceleration of commercial growth through double-stranded RNA ligase and GLP-grade siRNA material
- Securing a GMP scale-up partner
Codexis (NASDAQ: CDXS) ha riportato i risultati finanziari per il quarto trimestre e l'anno fiscale 2024, con un fatturato totale di 59,3 milioni di dollari per l'anno fiscale, che rappresenta una diminuzione del 4% rispetto al 2023. I ricavi da prodotto sono aumentati del 6% a 36,8 milioni di dollari, mentre i ricavi da R&D sono stati di 22,6 milioni di dollari.
L'azienda ha registrato una perdita netta di 65,3 milioni di dollari (0,89 dollari per azione) per l'anno fiscale 2024, migliorando rispetto a una perdita di 76,2 milioni di dollari nel 2023. La posizione di cassa si attesta a 73,5 milioni di dollari al 31 dicembre 2024, supportata da 31 milioni di dollari raccolti tramite la struttura ATM.
Per il 2025, Codexis prevede:
- Ricavi totali tra 64-68 milioni di dollari
- Crescita a doppia cifra nel fatturato totale
- Accelerazione della crescita commerciale attraverso ligasi a RNA a doppio filamento e materiale siRNA di grado GLP
- Assicurarsi un partner per l'aumento di scala GMP
Codexis (NASDAQ: CDXS) reportó resultados financieros para el cuarto trimestre y el año fiscal 2024, con ingresos totales de 59.3 millones de dólares para el año fiscal, lo que representa una disminución del 4% en comparación con 2023. Los ingresos por productos aumentaron un 6% a 36.8 millones de dólares, mientras que los ingresos por I+D fueron de 22.6 millones de dólares.
La empresa reportó una pérdida neta de 65.3 millones de dólares (0.89 dólares por acción) para el año fiscal 2024, mejorando respecto a una pérdida de 76.2 millones de dólares en 2023. La posición de efectivo se sitúa en 73.5 millones de dólares al 31 de diciembre de 2024, respaldada por 31 millones de dólares recaudados a través de la instalación ATM.
Para 2025, Codexis espera:
- Ingresos totales entre 64-68 millones de dólares
- Crecimiento de dos dígitos en los ingresos totales
- Aceleración del crecimiento comercial a través de ligasa de ARN de doble cadena y material de siRNA de grado GLP
- Asegurar un socio para el aumento de escala GMP
Codexis (NASDAQ: CDXS)는 2024 회계연도 4분기 및 연간 재무 결과를 보고했으며, 회계연도 총 수익은 5,930만 달러로 2023년 대비 4% 감소했습니다. 제품 수익은 6% 증가하여 3,680만 달러에 달했으며, 연구 개발 수익은 2,260만 달러였습니다.
회사는 2024 회계연도에 6,530만 달러의 순손실(주당 0.89달러)을 기록했으며, 이는 2023년의 7,620만 달러 손실에서 개선된 수치입니다. 현금 위치는 2024년 12월 31일 기준으로 7,350만 달러이며, ATM 시설을 통해 3,100만 달러가 추가되었습니다.
2025년을 위해 Codexis는 다음과 같은 예상을 하고 있습니다:
- 총 수익 6,400만~6,800만 달러
- 총 수익의 두 자릿수 성장
- 이중 가닥 RNA 리가제를 통한 상업적 성장 가속화 및 GLP 등급 siRNA 물질
- GMP 대량 생산 파트너 확보
Codexis (NASDAQ: CDXS) a publié ses résultats financiers pour le quatrième trimestre et l'exercice 2024, avec un chiffre d'affaires total de 59,3 millions de dollars pour l'exercice, représentant une baisse de 4 % par rapport à 2023. Les revenus des produits ont augmenté de 6 % pour atteindre 36,8 millions de dollars, tandis que les revenus de la R&D se sont élevés à 22,6 millions de dollars.
L'entreprise a enregistré une perte nette de 65,3 millions de dollars (0,89 dollar par action) pour l'exercice 2024, s'améliorant par rapport à une perte de 76,2 millions de dollars en 2023. La position de trésorerie s'élève à 73,5 millions de dollars au 31 décembre 2024, soutenue par 31 millions de dollars levés via une installation ATM.
Pour 2025, Codexis prévoit:
- Des revenus totaux entre 64 et 68 millions de dollars
- Une croissance à deux chiffres des revenus totaux
- Une accélération de la croissance commerciale grâce à la ligase RNA à double brin et au matériel siRNA de qualité GLP
- La sécurisation d'un partenaire pour l'augmentation de l'échelle GMP
Codexis (NASDAQ: CDXS) hat die finanziellen Ergebnisse für das vierte Quartal und das Geschäftsjahr 2024 veröffentlicht, mit einem Gesamtumsatz von 59,3 Millionen Dollar für das Geschäftsjahr, was einem Rückgang von 4% im Vergleich zu 2023 entspricht. Die Produktumsätze stiegen um 6% auf 36,8 Millionen Dollar, während die F&E-Umsätze 22,6 Millionen Dollar betrugen.
Das Unternehmen berichtete für das Geschäftsjahr 2024 von einem Nettoverlust von 65,3 Millionen Dollar (0,89 Dollar pro Aktie), was eine Verbesserung gegenüber einem Verlust von 76,2 Millionen Dollar im Jahr 2023 darstellt. Die Liquiditätsposition beträgt zum 31. Dezember 2024 73,5 Millionen Dollar, unterstützt durch 31 Millionen Dollar, die über eine ATM-Anlage gesammelt wurden.
Für 2025 erwartet Codexis:
- Gesamtumsätze zwischen 64-68 Millionen Dollar
- Zweistelliges Wachstum im Gesamtumsatz
- Beschleunigung des kommerziellen Wachstums durch doppelsträngige RNA-Ligase und GLP-Grad siRNA-Material
- Gewinnung eines GMP-Partner für die Skalierung
- Product revenues increased 6% to $36.8M in FY2024
- Raised $31M through ATM facility strengthening cash position
- Net loss improved to $65.3M from $76.2M in previous year
- Expects double-digit revenue growth in 2025
- R&D expenses decreased by $12.6M year-over-year
- Total revenue declined 4% to $59.3M in FY2024
- Product gross margin decreased to 56% from 63% in FY2023
- R&D revenues decreased to $22.6M from $27.2M
- Net loss of $65.3M in FY2024
- SG&A expenses increased to $55.1M from $53.3M
Insights
Codexis's Q4 and FY 2024 results reveal a company in strategic transition, pivoting from a broad enzyme platform to a focused play in the high-growth RNA therapeutics manufacturing space. Total revenue of
The company's ECO Synthesis platform is gaining commercial momentum following their November 2024 breakthrough presentation at TIDES Europe, where they demonstrated four enzymatic synthesis routes for inclisiran. The December 2024 completion of their Innovation Lab creates immediate revenue opportunities through analytical services and GLP-grade siRNA production capability.
Financially, the
The 2025 guidance of
Codexis's 2024 results underscore their transformation into a specialized enzymatic manufacturing platform for the rapidly expanding siRNA therapeutics market. Their technical achievement of demonstrating four synthetic routes for inclisiran represents a significant manufacturing breakthrough, as enzymatic synthesis offers substantial advantages over traditional phosphoramidite chemistry - including reduced environmental impact, fewer hazardous reagents, and potentially lower production costs at scale.
The completion of the ECO Synthesis Innovation Lab marks a critical inflection point in their commercialization strategy. This facility enables vertical integration into the RNA manufacturing value chain, allowing Codexis to progress from selling enzymes to providing higher-margin analytical services and GLP-grade material production. This capability expansion directly addresses the industry's need for more efficient, sustainable manufacturing approaches as the RNA therapeutics pipeline expands.
The successful feasibility studies with Bachem (a leading CDMO) and an unnamed siRNA innovator validate the platform's potential, but the key challenge remains converting these technical successes into formal revenue-generating contracts. The enzymatic approach must demonstrate not only equivalent quality but also scalability advantages to displace entrenched phosphoramidite chemistry methods.
Strategic appointments of oligonucleotide experts Arthur Levin and Alison Moore significantly strengthen execution capabilities for the complex transition to GMP-scale enzymatic manufacturing. The anticipated GMP scale-up partnership represents the most critical milestone for 2025, as it would enable Codexis to support clinical-stage programs and position them for commercial manufacturing opportunities as more RNA therapeutics advance toward approval.
Total revenue of
Expect double digit growth for total revenue in 2025
2025 to demonstrate acceleration of commercial growth through double-stranded RNA ligase and GLP-grade siRNA material; expect to secure GMP scale-up partner
REDWOOD CITY, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced financial results for the fourth quarter and year ended December 31, 2024, and provided a business update.
“Throughout 2024, we continued to execute our strategy to advance the ECO Synthesis™ platform, and we have proven the technical viability of our new approach through collaborations with multiple partners. Our groundbreaking data presentations at the TIDES Europe annual meeting in November generated considerable interest from potential partners leading to several additional feasibility studies that have been successfully completed. Now, with the commissioning of our ECO Synthesis™ Innovation Lab we are ready to convert ongoing collaborations into formal revenue-generating contracts,” said Stephen Dilly, MBBS, PhD, Chairman and Chief Executive Officer at Codexis. “As we look to the year ahead, we will be focused on delivering a wide array of services to siRNA innovators, which includes fulfilling additional double-stranded RNA ligase orders, providing analytical services and GLP-grade siRNA material through the ECO Innovation Lab and securing a GMP scale-up partner.”
Recent Business Highlights
- In February 2025, Codexis appointed Arthur Levin, PhD, to its Strategic Advisory Board. Dr. Levin has three decades of experience developing oligonucleotides and is a founding member of Avidity Biosciences, a biopharmaceutical company committed to delivering a new class of RNA therapeutics called antibody oligonucleotide conjugates.
- Codexis appointed Christos Richards and Raymond De Vré, PhD, to its Board of Directors in January 2025 and November 2024, respectively. Mr. Richards has over 30 years of global executive advisory and search experience for the biopharmaceutical and healthcare industry. Dr. De Vré brings over 20 years of executive-level experience across the commercial and regulatory landscape of oligonucleotide manufacturing to Codexis.
- In December 2024, the Company completed the build out of its ECO Synthesis™ Innovation Lab. Through this facility, Codexis can provide customers with analytical and process development services and plans to supply their GLP-grade siRNA material.
- In November 2024, Codexis unveiled pioneering enzymatic synthesis data at the TIDES Europe annual meeting, making the Company the first to demonstrate four routes of synthesis for an approved siRNA therapeutic asset. Utilizing its proprietary Enzyme Catalyzed Oligonucleotide (ECO) Synthesis™ manufacturing platform and toolbox, Codexis successfully completed the end-to-end enzymatic synthesis of inclisiran and demonstrated similar outcomes utilizing three routes of enzymatic ligation to produce the same therapeutic asset. During the presentations, Codexis also announced the completion of feasibility studies with Bachem, a leading manufacturer of siRNA therapeutics, as well as a major siRNA drug innovator.
- In October 2024, Codexis announced the appointments of Georgia Erbez to Chief Financial Officer and Alison Moore, PhD, to the newly created role of Chief Technical Officer. Ms. Erbez is a seasoned financial executive who most recently served as Chief Operating Officer at Walking Fish Therapeutics. Dr. Moore is the former Chief Technical Officer of Allogene Therapeutics and joined the Codexis management team after serving four years on the Company’s Board of Directors.
- In October 2024, Codexis announced the Company licensed a genomics life science enzyme portfolio to Alphazyme, LLC, part of Maravai LifeSciences. The agreement includes licenses for the HiFi DNA Polymerase, HiTemp Reverse Transcriptase, HiRev Isothermal Polymerase and other enzymes that were in development directed towards genomics and diagnostics applications prior to the Company’s strategic shift announced in July 2023. Under the terms of the agreement, Codexis is eligible to receive sales-based royalties.
- In September 2024, Codexis increased its cash reserves through capital raises totaling
$31 million via the Company’s existing at-the-market (ATM) facility. The expanded funds provide the Company with a path to cash flow positivity, anticipated by the end of 2026.
Upcoming Milestones
- Codexis intends to sign its first development contract for its ECO Synthesis™ manufacturing services in the first half of 2025.
- Codexis expects to achieve pilot scale production of GLP-grade siRNA material using the ECO Synthesis™ Innovation Lab in 2025.
- The Company anticipates hosting presentations at the 2025 TIDES USA and TIDES Europe annual meetings, where it plans to present purity and yield data demonstrating that the ECO Synthesis™ platform performs equivalent to or better than phosphoramidite chemistry. Codexis also expects to demonstrate an expansion of its ECO Synthesis™ platform capabilities to include additional modified nucleotides.
- Codexis expects to sign a GMP scale-up partner by the end of 2025 to enable larger scale clinical and commercial siRNA production.
Fiscal Year 2024 Financial Highlights
- Total revenues decreased by
4% to$59.3 million for fiscal year 2024 compared to$62.0 million for fiscal year 2023, excluding enzyme sales related to PAXLOVID™. Including 2023 enzyme sales related to PAXLOVID™, total revenues were$70.1 million for fiscal year 2023. - Product revenues increased by
6% to$36.8 million for fiscal year 2024 compared to$34.8 million for fiscal year 2023, excluding enzyme sales related to PAXLOVID™. Including 2023 enzyme sales related to PAXLOVID™, product revenues were$42.9 million for fiscal year 2023. - R&D revenues for fiscal year 2024 were
$22.6 million compared to$27.2 million for fiscal year 2023; the decrease was primarily due to lower non-recurring items, including for Biotherapeutics programs that the Company previously discontinued, and lower R&D fees from existing collaboration agreements, partially offset by higher revenue from licensing agreements entered into in 2024. - Product gross margin was
56% for fiscal year 2024 compared to63% for fiscal year 2023, excluding enzyme sales related to PAXLOVID™. The decrease was largely due to product mix. Including 2023 enzyme sales related to PAXLOVID™, product gross margin for fiscal year 2023 was70% . - R&D expenses for fiscal year 2024 were
$46.3 million compared to$58.9 million for fiscal year 2023; the decrease was primarily driven by a decrease in costs associated with lower headcount, a decrease in outside services related to manufacturing and regulatory expense, and a decrease in lease costs due to assignment of the San Carlos facility lease in 2023. - Selling, General & Administrative expenses for fiscal year 2024 were
$55.1 million compared to$53.3 million for fiscal year 2023; the increase was primarily due to higher stock-based compensation expenses and higher fees for outside services related to recruiting and consultants, partially offset by lower payroll-based expenses.
- The net loss for fiscal year 2024 was
$65.3 million , or$0.89 per share, compared to a net loss of$76.2 million , or$1.12 per share, for fiscal year 2023.
- As of December 31, 2024, the Company had
$73.5 million in cash, cash equivalents and short-term investments.
Fourth Quarter 2024 Financial Highlights
- Total revenues increased by
17% to$21.5 million for fourth quarter 2024 compared to$18.4 million in fourth quarter 2023, excluding enzyme sales related to PAXLOVID™. Including 2023 enzyme sales related to PAXLOVID™, total revenues were$26.6 million for fourth quarter 2023. - Product revenues were
$9.8 million for fourth quarter 2024 compared to$9.9 million in fourth quarter 2023, excluding enzyme sales related to PAXLOVID™. Including 2023 enzyme sales related to PAXLOVID™, product revenues were$18.1 million for fourth quarter 2023.
- R&D revenues for fourth quarter 2024 were
$11.6 million compared to$8.5 million in fourth quarter 2023. The increase was primarily due to Pfizer applying the last portion of the retainer fee toward signing a new, longer-term agreement to provide Codexis with future revenue opportunities.
- Product gross margin was
63% for fourth quarter 2024 compared to71% in fourth quarter 2023, excluding enzyme sales related to PAXLOVID™. The decrease in gross margin was largely due to product mix. Including 2023 enzyme sales related to PAXLOVID™, product gross margin was84% for fourth quarter 2023. - R&D expenses for fourth quarter 2024 were
$12.1 million compared to$11.2 million in fourth quarter 2023; the increase was primarily driven by an increase in lab supplies and outside services related to manufacturing. - Selling, General & Administrative expenses for fourth quarter 2024 were
$13.0 million compared to$12.2 million in fourth quarter 2023; the increase was primarily due to costs associated with executive departures.
- The net loss for fourth quarter 2024 was
$10.4 million , or$0.13 per share, compared to a net loss of$7.2 million , or$0.10 per share, for fourth quarter 2023.
2025 Financial Guidance
Codexis is introducing financial guidance for 2025, as follows:
- Total revenues are expected to be in the range of
$64 million to$68 million . - Codexis expects that its existing cash, cash equivalents and short-term investments will be sufficient to fund its planned operations through positive cash flow, expected by the end of 2026.
Conference Call and Webcast
Codexis will hold a conference call and webcast today beginning at 4:30 pm ET. A live webcast and slide presentation to accompany the conference call will be available on the Investors section of the Company website at www.codexis.com/investors. The conference call dial-in numbers are 877-705-2976 for domestic callers and 201-689-8798 for international callers.
A telephone recording of the call will be available for 48 hours beginning approximately two hours after the completion of the call by dialing 877-660-6853 for domestic callers or 201-612-7415 for international callers. Please use the passcode 13726635 to access the recording. A webcast replay will be available on the Investors section of the Company website for at least 90 days, beginning approximately two hours after the completion of the call.
About Codexis
Codexis is a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes. Codexis enzymes solve for real-world challenges associated with small molecule and nucleic acid therapeutics manufacturing. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit https://www.codexis.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “suggest,” “target,” “on track,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. To the extent that statements contained in this press release are not descriptions of historical facts, they are forward-looking statements reflecting the current beliefs and expectations of management, including but not limited to statements regarding anticipated milestones, including product launches, technical milestones, data releases and public announcements related thereto; whether Codexis will be able to, and the timing of it entering into revenue-generating development contracts with customers regarding its ECO Synthesis™ manufacturing platform; its ability to enter into an agreement with a GMP scale-up partner regarding its ECO Synthesis™ manufacturing platform in 2025; Codexis achieving pilot scale production of GLP-grade siRNA material using the ECO Synthesis™ Innovation Lab in 2025; Codexis’ expectations regarding 2025 product revenues, R&D revenues and gross margin on product revenue, as well as its ability to fund planned operations through the end of 2026; Codexis’ ability to achieve positive cash flow around the end of 2026; potential receipt by Codexis of certain royalty payments pursuant to its recent license agreement with Alphazyme; the potential of the ECO Synthesis™ manufacturing platform, including its ability to be broadly utilized and to enable commercial-scale manufacture of RNAi therapeutics through an enzymatic route; and expectations regarding future demand for dsRNA. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Codexis’ control and that could materially affect actual results. Factors that could materially affect actual results include, among others: Codexis’ dependence on its licensees and collaborators; if any of its collaborators terminate their development programs under their respective license agreements with Codexis; Codexis may need additional capital in the future in order to expand its business; if Codexis is unable to successfully develop new technology such as its ECO Synthesis™ manufacturing platform and dsRNA ligase; Codexis’ dependence on a limited number of products and customers, and potential adverse effects to Codexis’ business if its customers’ products are not received well in the markets; if Codexis is unable to develop and commercialize new products for its target markets; if competitors and potential competitors who have greater resources and experience than Codexis develop products and technologies that make Codexis’ products and technologies obsolete; Codexis’ ability to comply with debt covenants under its loan facility; if Codexis is unable to accurately forecast financial and operational performance; and market, political and economic conditions may negatively impact Codexis business, financial condition and share price. Additional information about factors that could materially affect actual results can be found in Codexis’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on or about the date hereof, including under the caption “Risk Factors,” and in Codexis’ other periodic reports filed with the SEC. Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law. Codexis’ results for the year and quarter ended December 31, 2024, are not necessarily indicative of our operating results for any future periods.
For More Information
Investor Contact
Carrie McKim
(336) 608-9706
ir@codexis.com
| Codexis, Inc. Condensed Consolidated Statements of Operations (unaudited) (In Thousands, Except Per Share Amounts) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenues: | |||||||||||||||
| Product revenue | $ | 9,818 | $ | 18,099 | $ | 36,786 | $ | 42,906 | |||||||
| Research and development revenue | 11,642 | 8,462 | 22,559 | 27,237 | |||||||||||
| Total revenues | 21,460 | 26,561 | 59,345 | 70,143 | |||||||||||
| Costs and operating expenses: | |||||||||||||||
| Cost of product revenue | 3,654 | 2,861 | 16,288 | 12,809 | |||||||||||
| Research and development | 12,099 | 11,234 | 46,263 | 58,885 | |||||||||||
| Selling, general and administrative | 13,049 | 12,184 | 55,148 | 53,250 | |||||||||||
| Restructuring charges | — | — | — | 3,284 | |||||||||||
| Asset impairment and other charges | — | — | 165 | 9,984 | |||||||||||
| Total costs and operating expenses | 28,802 | 26,279 | 117,864 | 138,212 | |||||||||||
| Loss from operations | (7,342 | ) | 282 | (58,519 | ) | (68,069 | ) | ||||||||
| Interest income | 940 | 906 | 3,670 | 4,172 | |||||||||||
| Interest and other expense, net | (3,970 | ) | (8,345 | ) | (10,393 | ) | (12,274 | ) | |||||||
| Loss before income taxes | (10,372 | ) | (7,157 | ) | (65,242 | ) | (76,171 | ) | |||||||
| Provision for income taxes | 4 | 35 | 34 | 69 | |||||||||||
| Net loss | $ | (10,376 | ) | $ | (7,192 | ) | $ | (65,276 | ) | $ | (76,240 | ) | |||
| Net loss per share, basic and diluted | $ | (0.13 | ) | $ | (0.10 | ) | $ | (0.89 | ) | $ | (1.12 | ) | |||
| Weighted average common stock shares used in computing net loss per share, basic and diluted | 81,300 | 69,500 | 73,408 | 68,131 | |||||||||||
| Codexis, Inc. Condensed Consolidated Balance Sheets (unaudited) (In Thousands) | |||||||
| December 31, | |||||||
| 2024 | 2023 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 19,264 | $ | 65,116 | |||
| Restricted cash, current | 503 | 519 | |||||
| Short-term investments | 54,194 | — | |||||
| Financial assets: | |||||||
| Accounts receivable | 11,920 | 10,036 | |||||
| Contract assets | 4,375 | 815 | |||||
| Unbilled receivables | 2,751 | 9,142 | |||||
| Total financial assets | 19,046 | 19,993 | |||||
| Less: allowances | (162 | ) | (65 | ) | |||
| Total financial assets, net | 18,884 | 19,928 | |||||
| Inventories | 1,799 | 2,685 | |||||
| Prepaid expenses and other current assets | 4,128 | 5,218 | |||||
| Total current assets | 98,772 | 93,466 | |||||
| Restricted cash | 1,062 | 1,062 | |||||
| Investment in non-marketable equity securities | 2,798 | 9,700 | |||||
| Right-of-use assets - Operating leases, net | 28,700 | 13,137 | |||||
| Property and equipment, net | 14,197 | 15,487 | |||||
| Goodwill | 2,463 | 2,463 | |||||
| Other non-current assets | 1,019 | 1,246 | |||||
| Total assets | $ | 149,011 | $ | 136,561 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 2,838 | $ | 5,947 | |||
| Accrued compensation | 11,410 | 11,246 | |||||
| Other accrued liabilities | 6,223 | 4,735 | |||||
| Current portion of lease obligations - Operating leases | 2,827 | 3,781 | |||||
| Deferred revenue | 350 | 10,121 | |||||
| Total current liabilities | 23,648 | 35,830 | |||||
| Deferred revenue, net of current portion | 100 | 640 | |||||
| Long-term lease obligations - Operating leases | 28,163 | 12,243 | |||||
| Long-term debt | 28,905 | — | |||||
| Other long-term liabilities | 1,268 | 1,233 | |||||
| Total liabilities | 82,084 | 49,946 | |||||
| Stockholders’ equity: | |||||||
| Common stock | 8 | 7 | |||||
| Additional paid-in capital | 629,673 | 584,138 | |||||
| Accumulated other comprehensive income (loss) | 52 | — | |||||
| Accumulated deficit | (562,806 | ) | (497,530 | ) | |||
| Total stockholders’ equity | 66,927 | 86,615 | |||||
| Total liabilities and stockholders’ equity | $ | 149,011 | $ | 136,561 | |||
FAQ
What is Codexis's (CDXS) revenue guidance for 2025?
How much revenue did Codexis (CDXS) generate in fiscal year 2024?
What was Codexis's (CDXS) net loss for fiscal year 2024?
When does Codexis (CDXS) expect to achieve cash flow positivity?
How much cash does Codexis (CDXS) have as of December 31, 2024?
