Codexis, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Codexis, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

CODEXIS, INC. (CDXS) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Codexis, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Codexis, Inc. is incorporated in Delaware. The company's principal business address is 200 Penobscot Drive, Redwood City, CA 94063.

Why It Matters

For investors and stakeholders tracking CODEXIS, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial statements and management's discussion of results, crucial for assessing the company's current performance and future outlook. Understanding the details within this report allows stakeholders to evaluate the company's financial health, operational efficiency, and any potential risks or opportunities identified by management.

Risk Assessment

Risk Level: low — CODEXIS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or material changes beyond routine disclosures.

Analyst Insight

Review the detailed financial statements and management's discussion in the 10-Q to understand Codexis's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (2024 Q1)
• 1231 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• CODEXIS, INC. (company) — FILER
• 200 PENOBSCOT DRIVE (address) — BUSINESS ADDRESS
• REDWOOD CITY (city) — BUSINESS ADDRESS
• CA (state) — BUSINESS ADDRESS
• 94063 (zip) — BUSINESS ADDRESS
• DE (state) — STATE OF INCORPORATION

FAQ

Industry Context

Codexis operates in the industrial organic chemicals sector, focusing on enzyme engineering and biocatalysis.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the revenue breakdown by segment for Q1 2024.
2. Review any disclosed changes in financial condition or operational risks.
3. Compare key financial metrics to previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.0001 — red Symbol(s) Common Stock, par value $0.0001 per share CDXS The Nasdaq Global Select

Filing Documents

• cdxs-20240331.htm (10-Q) — 1106KB
• cdxs_20240331xex311.htm (EX-31.1) — 9KB
• cdxs_20240331xex312.htm (EX-31.2) — 9KB
• cdxs_20240331xex321.htm (EX-32.1) — 6KB
• 0001200375-24-000015.txt (&nbsp;) — 5970KB
• cdxs-20240331.xsd (EX-101.SCH) — 46KB
• cdxs-20240331_cal.xml (EX-101.CAL) — 77KB
• cdxs-20240331_def.xml (EX-101.DEF) — 179KB
• cdxs-20240331_lab.xml (EX-101.LAB) — 583KB
• cdxs-20240331_pre.xml (EX-101.PRE) — 384KB
• cdxs-20240331_htm.xml (XML) — 700KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

ITEM 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements C omprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures about Market Risk

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 29

Controls and Procedures

ITEM 4. Controls and Procedures 30

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 31

Risk Factors

ITEM 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 59

Default Upon Senior Securities

ITEM 3. Default Upon Senior Securities 59

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 59

Other Information

ITEM 5. Other Information 59

Exhibits

ITEM 6. Exhibits 61

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Codexis, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In Thousands, Except Per Share Amounts) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 58,046 $ 65,116 Restricted cash, current 518 519 Short-term investments 27,469 — Financial assets: Accounts receivable 6,240 10,036 Contract assets 2,571 815 Unbilled receivables 5,459 9,142 Total financial assets 14,270 19,993 Less: allowances ( 65 ) ( 65 ) Total financial assets, net 14,205 19,928 Inventories 2,441 2,685 Prepaid expenses and other current assets 5,269 5,218 Total current assets 107,948 93,466 Restricted cash 1,062 1,062 Investment in non-marketable equity securities 9,700 9,700 Right-of-use assets - Operating leases, net 12,364 13,137 Property and equipment, net 14,668 15,487 Goodwill 2,463 2,463 Other non-current assets 1,354 1,246 Total assets $ 149,559 $ 136,561 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,465 $ 5,947 Accrued compensation 6,502 11,246 Other accrued liabilities 5,374 4,735 Current portion of lease obligations - Operating leases 3,879 3,781 Deferred revenue 9,860 10,121 Total current liabilities 29,080 35,830 Deferred revenue, net of current portion 630 640 Long-term lease obligations - Operating leases 11,232 12,243 Long-term debt 28,102 — Other long-term liabilities 1,248 1,233 Total liabilities 70,292 49,946 Commitments and Contingencies (Note 10) Stockholders' equity: Preferred stock, $ 0.0001 par value per share; 5,000 shares authorized, none issued and outstanding — — Common stock, $ 0.0001 par value per share; 200,000 shares authorized; 70,554 shares and 69,905 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 7 7 Additional paid-in capital 588,311 584,138 Accumulated other comprehensive loss ( 16 ) — Accumulated deficit ( 509,035 ) ( 497,530 ) Total stockholders' equity 79,267 86,615 To

View Full Filing

View this 10-Q filing on SEC EDGAR