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Dec 31, 2024
Codexis Q4 2024 Earnings Report
Codexis reported its fourth quarter and fiscal year 2024 financial results, with total revenues increasing by 17% in Q4 2024 compared to Q4 2023, excluding PAXLOVID™ enzyme sales.
Key Takeaways
Codexis reported a 17% increase in total revenues for Q4 2024 to $21.5 million, excluding PAXLOVID™ enzyme sales, compared to $18.4 million in Q4 2023. The company's net loss for Q4 2024 was $10.4 million, or $0.13 per share. For the full fiscal year 2024, total revenues were $59.3 million, a 4% decrease from $62.0 million in FY 2023, excluding PAXLOVID™ enzyme sales.
Total revenues for Q4 2024 increased by 17% to $21.5 million, excluding PAXLOVID™ enzyme sales.
Net loss for Q4 2024 was $10.4 million, or $0.13 per share.
Product gross margin for Q4 2024 was 63%, compared to 71% in Q4 2023, excluding PAXLOVID™ enzyme sales.
R&D revenues for Q4 2024 increased to $11.6 million from $8.5 million in Q4 2023, primarily due to a new agreement with Pfizer.
Codexis
Codexis
Codexis Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comResearch and Development Revenue
CapyFin.com Forward Guidance
Codexis expects total revenues for 2025 to be in the range of $64 million to $68 million and anticipates achieving positive cash flow by the end of 2026.
Positive Outlook
- Expects 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.
- Expects to secure GMP scale-up partner by the end of 2025.
- Intends to sign its first development contract for ECO Synthesis™ manufacturing services in the first half of 2025.
- Expects to achieve pilot scale production of GLP-grade siRNA material using the ECO Synthesis™ Innovation Lab in 2025.
Challenges Ahead
- No specific negative guidance points were provided in the report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income