Q1 2025 Codexis Inc Earnings Call Transcript

May 14, 2025 / 08:30 PM GMT

Release Date Price: €2.19 (-2.93%)

Transcript 10-Q8-K

Key Points

Positve

Codexis Inc (CDXS) maintained a strong financial position, ensuring a runway to cash flow positivity by the end of 2026.
The company has made meaningful progress across both core businesses, setting up for a substantial revenue ramp in the second half of the year.
Product gross margin improved to 55% in Q1 2025 from 49% in Q1 2024, driven by a shift to more profitable products.
Codexis Inc (CDXS) has secured new customers, particularly within the mid-tier pharma segment, positioning for steady growth.
The company is leveraging machine learning capabilities to improve enzyme selection and process efficiency, enhancing its competitive edge.

Negative

Total revenue for Q1 2025 was $7.5 million, a significant decrease from $17.1 million in Q1 2024, highlighting revenue volatility.
The net loss for Q1 2025 increased to $20.7 million compared to $11.5 million in Q1 2024.
Revenue can be impacted by the unpredictability of large orders, as seen with a delayed $2.5 million order affecting Q1 results.
Research and development expenses increased to $12.9 million in Q1 2025 from $11.2 million in Q1 2024, driven by higher salaries and lab costs.
The company faces challenges in getting small and large SIRNA drug innovators to adopt its technology early, as they are either cash-strapped or focused on future demand.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CDXS.OQ - Codexis Inc
Q1 2025 Codexis Inc Earnings Call
May 14, 2025 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the codex's first quarter 2025 earnings conference call and webcast. At this time, all participants are listen-only mode.

If anyone should require operator assistance, please press 0 on your telephone keypad.

A question and answer session will follow the formal presentation.

You may be placed in the question queue at any time by pressing one on your telephone keypad, and in the interest of time we ask you to please limit yourselves to one question. As a reminder, this conference is being recorded.

It's not my pleasure to turn the call over to your host, Kerry McKim, director of investor relations. Carrie, please go ahead.

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