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Codexis (CDXS)
NASDAQ:CDXS
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.17Last Year’s EPS
-0.25Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted substantial technical progress and commercial momentum for the ECOsynthesis platform (notable scale-up milestones, ISO 9001 certification, CDMO agreements, and a 55-opportunity pipeline) and showed improved financial metrics (higher revenue, stronger product gross margins, reduced annual net loss, and a strengthened cash position aided by a ~ $37.8M Merck agreement). At the same time, important risks remain: ECOsynthesis revenue is currently service-heavy with limited margin contribution, full-year net loss persists, R&D investments and GMP capex will continue to pressure cash, and many commercial relationships remain in feasibility or assessment stages. Given the number and significance of technical and commercial achievements that materially de-risk the business combined with remaining near-term financial and execution uncertainties, the overall tone is cautiously optimistic.Company Guidance
Strong Revenue Growth and Improved Product Margins
Quarter revenue increased to $38.9M from $21.5M (≈+81% YoY), and full-year revenue rose to $70.4M from $59.3M (≈+19% YoY). Product gross margin improved to 64% in 2025 from 56% in 2024 (+8 percentage points). Management expects gross margins to remain stable in 2026.
Material Non-Dilutive Financing from Merck
Signed a technology transfer agreement with Merck that contributed approximately $37.8M (also referenced as ~$38M) in non-dilutive capital in Q4 2025, materially strengthening the cash position.
Healthy Cash Position and Runway
Ended 2025 with $78.2M in cash, cash equivalents, and short-term investments, which management expects will fund planned operations and capex through 2027.
Concrete ECOsynthesis Technical Milestones and Scale-Up
Delivered 10 grams of commercially relevant siRNA using full sequential ECOsynthesis and are currently operating at 100-gram scale in the Eco Innovation Lab with a target of achieving ~0.5 kg (500 g) scale by year-end 2026. Additionally, a client used Codexis ligase to manufacture a 3 kg batch of siRNA via chemoenzymatic production.
Commercial Engagements and Partner Wins
Signed three CDMO agreements in 2025 (Bachem, Nitto Avecia, Axolabs) and announced an emerging biotech contract to supply 50 grams of fully enzymatic siRNA (a low seven-figure agreement split between services and product). Sales pipeline contains 55 opportunities across 40 companies, indicating strong market interest.
Quality and Infrastructure Progress
Modernized non-GMP production capability in Redwood City and achieved ISO 9001 certification; passed a facility and quality management inspection by a large pharmaceutical customer. Leased a GMP plant in 2025 with retrofit construction planned to begin H2 2026 and expected to be operational by end of 2027.
Improved Operating Profitability Metrics
Net loss for the full year narrowed to $44.0M from $65.3M in the prior year (improvement of $21.3M, ≈32.6% reduction in annual net loss). Quarterly results showed a positive net income of $9.6M compared with a prior-year quarter loss of $10.4M.
CDXS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CDXS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 11, 2026 | $1.27 | $1.71 | +34.65% |
Nov 06, 2025 | $2.04 | $1.69 | -16.95% |
Aug 13, 2025 | $3.05 | $3.10 | +1.64% |
May 14, 2025 | $2.47 | $2.51 | +1.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Codexis (CDXS) report earnings?
Codexis (CDXS) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Codexis (CDXS) earnings time?
Codexis (CDXS) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CDXS EPS forecast?
CDXS EPS forecast for the fiscal quarter 2026 (Q1) is -0.17.