Codexis (NASDAQ:CDXS) Releases Earnings Results, Beats Expectations By $0.01 EPS

Codexis (NASDAQ:CDXS) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01, FiscalAI reports. Codexis had a negative return on equity of 66.32% and a negative net margin of 40.97%.The firm had revenue of $15.25 million during the quarter, compared to analyst estimates of $14.53 million.

Here are the key takeaways from Codexis’ conference call:

• ECO Synthesis progress — management will present novel data at TIDES showing stereochemical control at both 3′ and 5′ ends of siRNA and is targeting roughly 0.5 kg scale by year-end, positioning the platform as a potential scalable alternative to chemical synthesis.
• Strong commercial interest — the sales funnel includes >50 opportunities across ~40 companies, active engagements with multiple CDMO partners, and ongoing talks that could produce a major pharma licensing deal in H2 2026.
• Financial momentum — Q1 revenue rose to $15.2M (vs. $7.5M Y/Y) driven by recognition of the Merck agreement, product gross margin improved to 71%, net loss narrowed to $8.7M, and management reiterated 2026 revenue guidance of $72M–$76M.
• Execution and funding risks — cash and short-term investments fell to $65.1M (from $78.2M), the new Hayward GMP plant build begins construction in H2 2026 with operations expected end of 2027, and scaling from gram to kilogram scale still involves process-control and timeline risks that could affect commercialization timing.

Codexis Trading Up 10.5%

CDXS traded up $0.27 during trading on Friday, hitting $2.85. 1,825,589 shares of the stock were exchanged, compared to its average volume of 1,326,488. The firm has a 50 day simple moving average of $1.90 and a 200 day simple moving average of $1.77. The firm has a market cap of $259.07 million, a price-to-earnings ratio of -7.70 and a beta of 2.52. Codexis has a 1 year low of $0.96 and a 1 year high of $3.87. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.75 and a current ratio of 3.82.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDXS. Cantor Fitzgerald reissued an “overweight” rating on shares of Codexis in a research note on Thursday, March 12th. Wall Street Zen lowered Codexis from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Codexis in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus set a $5.00 price target on Codexis in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.00.

More Codexis News

Here are the key news stories impacting Codexis this week:

• Positive Sentiment: Codexis posted an adjusted loss of $0.10 per share, narrower than the expected $0.11 loss and an improvement from the prior-year quarter, while revenue came in at $15.25 million versus estimates of $14.53 million. Article Title
• Positive Sentiment: The company reiterated full-year 2026 revenue guidance of $72 million to $76 million, signaling confidence in its near-term business outlook despite ongoing losses. Article Title
• Positive Sentiment: Management highlighted new data presentations for its ECO Synthesis manufacturing platform at the upcoming TIDES USA meeting, which could support investor interest in the company’s technology pipeline. Article Title
• Neutral Sentiment: Multiple earnings-call recaps noted a mixed tone: the quarter showed operational progress, but the business still faces profitability pressure and execution risk, which may temper upside. Article Title

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its holdings in Codexis by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 100,908 shares of the biotechnology company’s stock worth $246,000 after purchasing an additional 6,300 shares during the period. Brevan Howard Capital Management LP increased its holdings in shares of Codexis by 16.0% in the 3rd quarter. Brevan Howard Capital Management LP now owns 48,734 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 6,705 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Codexis by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 8,038 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Codexis in the 3rd quarter valued at $25,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Codexis by 27.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 48,443 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 10,407 shares during the period. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.