Codexis Q2 net loss narrows, helped by lower operating expenses

Codexis

11/08/2026 21:15

Overview
US enzymatic therapeutics maker's Q2 revenue declined slightly year-over-year
Company completed $25 mln equity raise post-quarter, increasing proforma cash to $80 mln
Codexis reiterated full-year 2026 revenue and margin guidance

Outlook
Codexis expects 2026 revenue between $72 mln and $76 mln
Company sees 2026 gross margin in the high 60% range
Codexis expects cash and investments to fund operations through end of 2028

Result Drivers
PRODUCT MIX SHIFT - Co said higher product revenue and improved gross margin were driven by customer launches of new, higher-margin products and a decline in less profitable, established products
LOWER OPERATING EXPENSES - Co attributed reduced R&D and SG&A expenses to lower employee-related costs and reduced spending on outside services and supplies

Company press release: ID:nGNX1tMdCC

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Product Revenue
 
$13.22 mln
 
Q2 Loss Per Share
 
$0.13
 
Q2 Net Loss
 
$12.005 mln
 
Q2 Operating Income
 
-$11.23 mln
 
Q2 Pretax Loss
 
$12 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Codexis, Inc. is $7.00, about 366.7% above its August 10 closing price of $1.50

Reuters Recommended Reads
Aug 10 - Quanterix Q2 revenue rises 34% but cuts 2026 outlook
Aug 11 - C4 Therapeutics Q2 revenue beats estimates, helped by Roche collaboration
Aug 10 - Scynexis Q2 swings to profit on warrant adjustment; advances drug studies

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)