NASDAQ$CDXS
Codexis Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Codexis reported a strong start to the year with a 32% increase in total revenue and secured a significant order for dsRNA ligase, reinforcing the path to positive cash flow.
Codexis reported a 32% increase in total revenue to $17.1 million for Q1 2024, driven by a 14% increase in product revenue and a significant order for its double-stranded RNA (dsRNA) ligase. The company is finalizing the enzymatic synthesis of a full-length oligonucleotide and expects to complete this by TIDES USA. Codexis reiterated its 2024 financial guidance and expects to fund its planned operations through positive cash flow, expected around the end of 2026.
- Total revenues increased by 32% to $17.1 million compared to Q1 2023.
- Product revenues increased by 14% to $9.6 million compared to Q1 2023.
- The company received a low-to-mid-single-digit million-dollar order for its double-stranded RNA (dsRNA) ligase from a top tier pharmaceutical company.
- Codexis is in the final stages of enzymatically synthesizing a full-length oligonucleotide with ECO Synthesis™ Manufacturing Platform.
Headline financials
Revenue & EPS history
Codexis · Revenue · Quarterly
$17.1M
Forward guidance
Codexis reiterated its 2024 financial guidance issued on February 28, 2024.
Tailwinds
- Product revenues are expected to be in the range of $38 million to $42 million, excluding revenue related to PAXLOVID™.
- R&D revenues are expected to be in the range of $18 million to $22 million.
- Gross margin on product revenue is expected to be in the range of 58% to 63%, excluding revenue related to PAXLOVID™.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.4%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+1.2%
Avg return
30 days after
48%
31 / 64 earnings
Positive
+33.9%
Q4 2025
Best reaction
-24.5%
Q2 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.0% | -4.5% | -4.5% | |
| Q4 2025 | +33.9% | +15.7% | +76.4% | |
| Q3 2025 | -4.3% | -8.9% | -26.7% | |
| Q1 2025 | +1.2% | -0.8% | -9.7% | |
| Q4 2024 | -22.6% | -30.5% | -28.5% | |
| Q3 2024 | +9.0% | +19.0% | +42.7% | |
| Q2 2024 | -7.3% | -7.3% | -9.3% | |
| Q1 2024 | +26.0% | +13.5% | +8.7% | |
| Q4 2023 | +12.0% | +1.4% | -15.9% | |
| Q3 2023 | +16.3% | +4.8% | +48.8% | |
| Q2 2023 | -10.0% | -28.7% | -43.9% | |
| Q1 2023 | -8.1% | -24.4% | -35.7% | |
| Q4 2022 | -14.0% | -12.0% | -29.5% | |
| Q3 2022 | +10.3% | +4.9% | -1.4% | |
| Q2 2022 | +12.5% | +0.0% | -13.4% | |
| Q1 2022 | -9.2% | -17.3% | -20.9% | |
| Q4 2021 | +15.9% | +13.5% | +13.1% | |
| Q3 2021 | +18.8% | +18.7% | -3.7% | |
| Q2 2021 | +17.2% | +18.6% | +29.2% | |
| Q1 2021 | -5.0% | -9.9% | -0.4% | |
| Q4 2020 | -3.4% | -1.3% | -9.6% | |
| Q3 2020 | +2.3% | +9.1% | +23.9% | |
| Q2 2020 | +6.8% | +1.9% | -4.9% | |
| Q1 2020 | +2.3% | -2.9% | +2.2% | |
| Q4 2019 | -10.2% | -12.2% | -20.6% | |
| Q3 2019 | +10.1% | +11.4% | +10.0% | |
| Q2 2019 | -14.4% | -14.9% | -15.9% | |
| Q1 2019 | -5.7% | -3.3% | -11.9% | |
| Q4 2018 | -1.6% | -5.3% | -7.7% | |
| Q3 2018 | -7.2% | -9.0% | +25.3% | |
| Q2 2018 | +4.0% | +10.4% | +32.0% | |
| Q1 2018 | +9.1% | +14.2% | +25.9% | |
| Q4 2017 | +3.3% | +18.6% | -3.3% | |
| Q3 2017 | -3.1% | -8.5% | +6.2% | |
| Q2 2017 | +5.9% | +5.0% | +10.9% | |
| Q1 2017 | +1.1% | +0.0% | -2.2% | |
| Q4 2016 | +6.0% | +8.3% | +7.1% | |
| Q3 2016 | +2.2% | +10.8% | +8.6% | |
| Q2 2016 | +2.8% | +0.0% | -4.2% | |
| Q1 2016 | +2.5% | — | — | |
| Q4 2015 | -5.9% | — | — | |
| Q3 2015 | +2.9% | — | — | |
| Q2 2015 | -3.1% | — | — | |
| Q1 2015 | -7.4% | — | — | |
| Q4 2014 | +5.4% | — | — | |
| Q3 2014 | -8.1% | — | — | |
| Q2 2014 | +7.1% | — | — | |
| Q1 2014 | +1.3% | — | — | |
| Q4 2013 | +3.1% | — | — | |
| Q3 2013 | -16.6% | — | — | |
| Q2 2013 | -12.5% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | -8.5% | — | — | |
| Q3 2012 | -17.4% | — | — | |
| Q2 2012 | -24.5% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q4 2011 | -8.7% | — | — | |
| Q3 2011 | +0.4% | — | — | |
| Q2 2011 | -9.3% | — | — | |
| Q1 2011 | -5.6% | — | — | |
| Q4 2010 | -1.5% | — | — | |
| Q3 2010 | -8.1% | — | — | |
| Q2 2010 | -5.5% | — | — | |
| Q1 2010 | -0.7% | — | — |
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