Codexis, Inc.·Healthcare

Codexis, Inc. delivered strong FY25 results, with revenue up 19% to $70.4M, driven by a $37.8M technology transfer agreement with Merck. CDXS's ECO Synthesis platform targets the expanding siRNA/RNA therapeutics market, offering scalable, high-margin enzymatic manufacturing as a disruptive alternative to chemical synthesis. Operational improvements included gross margin expansion to 64%, narrowed net loss, and SG&A expense reductions, positioning CDXS for financial sustainability.

Codexis shares jumped 37.8% in after-hours trading after the company reported a profitable fourth quarter and full-year 2025 revenue growth.

Codexis, Inc. (CDXS) Q4 2025 Earnings Call Transcript

Codexis (CDXS) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to a loss of $0.13 per share a year ago.

Q4 revenue of $38.9 million, total revenue of $70.4 million for the fiscal year ended December 31, 2025 Ended year with $78.2 million in cash, cash equivalents and short-term investments, runway through 2027 Completed $37.8 million Technology Transfer Agreement with Merck REDWOOD CITY, Calif., March 11, 2026 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable manufacturing of complex therapeutics, today announced financial results for the fourth quarter and year ended December 31, 2025, and provided a business update.

Codexis (NASDAQ: CDXS) President and CEO Alison Moore outlined the company's strategic focus on RNA medicines manufacturing at TD Cowen's 46th Annual Health Care Conference, emphasizing expected inflection points in 2026 tied to its ECO Synthesis platform and continued execution in its legacy pharma biocatalysis business. Shift in emphasis toward RNA medicines manufacturing Moore described Codexis
Codexis, Inc. discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver protein engineering technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes. The company's platform is also used to discover novel biotherapeutic drug candidates for targeted human diseases, as well as for molecular biology and in vitro diagnostic enzymes. It sells its products to pharmaceutical manufacturers through its direct sales and business development force in the United States and Europe. The company was incorporated in 2002 and is headquartered in Redwood City, California.