Earnings Releases·Nov 12, 2026, 4:20 PM ET

Codexis, Inc. — Third Quarter 2026 Earnings Summary

Total revenue surged to $19.3 million in Q3 2026 from $8.6 million in the prior year period, driven by new product approvals that lifted product gross margin to 74.5% from 64%; net loss narrowed to $8.1 million ($0.08/share) from $19.6 million ($0.22/share).
Full-year 2026 revenue guidance remains $72 million to $76 million, with gross margin estimates updated to the low 70% range; existing cash and investments are projected to fund operations through 2028, including the GMP facility build-out.
Strategic capital activities included a July equity financing of approximately $25 million and a November $60 million senior secured loan agreement with Trinity Capital, which refinanced existing debt and reduced long-term debt to $29.49 million.
The company plans to commence retrofit construction for the ECO GMP Manufacturing Center in the new year, targeting operational status by end-2027 to support siRNA preclinical and Phase 1/2 trials, while advancing toward strategic partner agreements.