Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...