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Codexis Earnings Calls
| Release date | Nov 06, 2025 |
| EPS estimate | -$0.150 |
| EPS actual | -$0.220 |
| EPS Surprise | -46.67% |
| Revenue estimate | 35.44M |
| Revenue actual | 8.601M |
| Revenue Surprise | -75.73% |
| Release date | Aug 13, 2025 |
| EPS estimate | -$0.170 |
| EPS actual | -$0.160 |
| EPS Surprise | 5.88% |
| Revenue estimate | 19.479M |
| Revenue actual | 15.328M |
| Revenue Surprise | -21.31% |
| Release date | May 14, 2025 |
| EPS estimate | -$0.200 |
| EPS actual | -$0.250 |
| EPS Surprise | -25.00% |
| Revenue estimate | 9.663M |
| Revenue actual | 7.543M |
| Revenue Surprise | -21.94% |
| Release date | Feb 27, 2025 |
| EPS estimate | -$0.0400 |
| EPS actual | -$0.130 |
| EPS Surprise | -225.00% |
| Revenue estimate | 27.41M |
| Revenue actual | 21.46M |
| Revenue Surprise | -21.71% |
Last 4 Quarters for Codexis
Below you can see how CDXS performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 27, 2025 |
| Price on release | $3.93 |
| EPS estimate | -$0.0400 |
| EPS actual | -$0.130 |
| EPS surprise | -225.00% |
| Date | Price |
|---|---|
| Feb 21, 2025 | $4.18 |
| Feb 24, 2025 | $4.11 |
| Feb 25, 2025 | $4.01 |
| Feb 26, 2025 | $4.16 |
| Feb 27, 2025 | $3.93 |
| Feb 28, 2025 | $3.04 |
| Mar 03, 2025 | $2.74 |
| Mar 04, 2025 | $2.68 |
| Mar 05, 2025 | $2.73 |
| 4 days before | -5.98% |
| 4 days after | -30.53% |
| On release day | -22.65% |
| Change in period | -34.69% |
| Release date | May 14, 2025 |
| Price on release | $2.47 |
| EPS estimate | -$0.200 |
| EPS actual | -$0.250 |
| EPS surprise | -25.00% |
| Date | Price |
|---|---|
| May 08, 2025 | $2.46 |
| May 09, 2025 | $2.46 |
| May 12, 2025 | $2.64 |
| May 13, 2025 | $2.56 |
| May 14, 2025 | $2.47 |
| May 15, 2025 | $2.51 |
| May 16, 2025 | $2.47 |
| May 19, 2025 | $2.43 |
| May 20, 2025 | $2.45 |
| 4 days before | 0.407% |
| 4 days after | -0.81% |
| On release day | 1.62% |
| Change in period | -0.407% |
| Release date | Aug 13, 2025 |
| Price on release | $3.05 |
| EPS estimate | -$0.170 |
| EPS actual | -$0.160 |
| EPS surprise | 5.88% |
| Date | Price |
|---|---|
| Aug 07, 2025 | $2.78 |
| Aug 08, 2025 | $2.77 |
| Aug 11, 2025 | $2.80 |
| Aug 12, 2025 | $2.86 |
| Aug 13, 2025 | $3.05 |
| Aug 14, 2025 | $3.10 |
| Aug 15, 2025 | $3.01 |
| Aug 18, 2025 | $3.00 |
| Aug 19, 2025 | $2.87 |
| 4 days before | 9.71% |
| 4 days after | -5.90% |
| On release day | 1.64% |
| Change in period | 3.24% |
| Release date | Nov 06, 2025 |
| Price on release | $2.04 |
| EPS estimate | -$0.150 |
| EPS actual | -$0.220 |
| EPS surprise | -46.67% |
| Date | Price |
|---|---|
| Oct 31, 2025 | $2.37 |
| Nov 03, 2025 | $2.26 |
| Nov 04, 2025 | $2.17 |
| Nov 05, 2025 | $2.15 |
| Nov 06, 2025 | $2.04 |
| Nov 07, 2025 | $1.69 |
| Nov 10, 2025 | $1.75 |
| Nov 11, 2025 | $1.80 |
| Nov 12, 2025 | $1.93 |
| 4 days before | -14.14% |
| 4 days after | -5.16% |
| On release day | -16.95% |
| Change in period | -18.57% |
Codexis Earnings Call Transcript Summary of Q3 2025
Codexis announced several strategic developments positioning the company to transition from an enzyme supplier to a full-service oligonucleotide (siRNA) manufacturing innovator. Key operational updates include a signed supply assurance agreement with Merck that materially supports 2025 revenue, an expected lease signing for a new GMP facility to produce kilogram-scale siRNA using the ECO Synthesis platform, and growing commercial traction (11 revenue-bearing contracts today, ~40 in the pipeline). Leadership changes were disclosed: CTO Alison Moore will succeed Stephen Dilly as CEO, with Dilly moving to Executive Chair; commercial leadership has been consolidated under Britton Jimenez. Financially, Q3 revenue was $8.6M (down YoY due to timing), product gross margin improved to 64%, net loss was $19.6M, and cash on hand was $58.7M (pre-Merck payment). Management expects to meet or slightly exceed the top end of 2025 revenue guidance, will receive significant nondilutive cash from Merck in Q4 (with remaining recognition in Q1 2026), and expects recent restructuring to reduce cash burn by ~25%, extending runway through the end of 2027. The company plans to shift go-to-market and sales focus away from legacy small-molecule biocatalysis toward ligase and ECO Synthesis services/products, while continuing to supply existing enzyme customers. Technical progress will be presented at TIDES EU, including scale-up and in-process analytics for ECO Synthesis.
