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Mar 31
Codexis Q1 2025 Earnings Report
Codexis reported a net loss in Q1 2025 amid revenue decline, but reiterated full-year guidance and highlighted operational milestones.
Key Takeaways
Codexis posted $7.5 million in revenue for Q1 2025, a sharp decline from the prior year due to absence of one-time licensing income. The company reported a net loss of $20.7 million, citing higher R&D expenses and a delay in a $2.5 million customer order. Despite the setback, Codexis emphasized strategic progress with its ECO Synthesis™ platform and maintained its 2025 revenue guidance.
Revenue declined to $7.5 million from $17.1 million in Q1 2024 due to prior year one-time revenue events.
Net loss increased to $20.7 million, or $0.25 per share.
Cash, cash equivalents and short-term investments totaled $59.8 million.
Company reiterated full-year 2025 revenue guidance and achieved its first ECO Synthesis™ revenue-generating contract.
Codexis
Codexis
Forward Guidance
Codexis reaffirmed its 2025 revenue expectations of $64 million to $68 million and remains confident in reaching cash flow positivity by the end of 2026.
Positive Outlook
- Full-year revenue guidance reaffirmed at $64–68 million.
- Strong cash position projected to fund operations through 2026.
- Momentum in ECO Synthesis™ platform with first contract signed.
- Pilot scale production of GLP-grade siRNA expected in 2025.
- Planned partnership for GMP scale-up by end of 2025.
Challenges Ahead
- Significant decline in revenue compared to Q1 2024.
- Increased R&D expenses impacted bottom line.
- $2.5 million customer order slipped to Q2.
- Net loss widened year-over-year.
- Continued operating losses affecting profitability.