Codexis, Inc. Files Q3 2024 10-Q Report

TL;DR

CDXS Q3 24 10-Q filed. Revenue details out.

AI Summary

Codexis, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported revenue for the third quarter of 2024 and the nine months ended September 30, 2024. Specific financial figures for these periods, including product revenue and research and development revenue, are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance data for Codexis, Inc., crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company operates in a dynamic biotech sector, which inherently carries risks.

Key Numbers

• 2024 Q3 — Reporting Period (Third quarter of 2024 financial data)
• 2024-09-30 — End of Reporting Period (The date through which financial information is reported)
• 2023-09-30 — Prior Year Period End (For comparative financial analysis)

Key Players & Entities

• CODEXIS, INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241031 (date) — Filed as of Date
• 200 PENOBSCOT DRIVE (address) — Business Address
• REDWOOD CITY, CA (location) — Business Address City/State

FAQ

Key Financial Figures

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

Filing Documents

• cdxs-20240930.htm (10-Q) — 1434KB
• codexis-ex102firstamendmen.htm (EX-10.2) — 5KB
• codexis-ex103offerletterxg.htm (EX-10.3) — 194KB
• codexis-ex104changeinctrls.htm (EX-10.4) — 80KB
• codexis-ex105offerletterxa.htm (EX-10.5) — 192KB
• codexis-ex106changeinctrls.htm (EX-10.6) — 69KB
• cdxs_20240930xex311.htm (EX-31.1) — 9KB
• cdxs_20240930xex312.htm (EX-31.2) — 9KB
• cdxs_20240930xex321.htm (EX-32.1) — 5KB
• 0001200375-24-000027.txt ( ) — 7604KB
• cdxs-20240930.xsd (EX-101.SCH) — 45KB
• cdxs-20240930_cal.xml (EX-101.CAL) — 84KB
• cdxs-20240930_def.xml (EX-101.DEF) — 191KB
• cdxs-20240930_lab.xml (EX-101.LAB) — 616KB
• cdxs-20240930_pre.xml (EX-101.PRE) — 410KB
• cdxs-20240930_htm.xml (XML) — 897KB

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 Comprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 10

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 23

Quantitative and Qualitative Disclosures about Market Risk

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 32

Controls and Procedures

ITEM 4. Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 34

Risk Factors

ITEM 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 62

Default Upon Senior Securities

ITEM 3. Default Upon Senior Securities 62

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 62

Other Information

ITEM 5. Other Information 62

Exhibits

ITEM 6. Exhibits 63

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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 37,452 $ 65,116 Restricted cash, current 514 519 Short-term investments 52,803 — Financial assets: Accounts receivable 9,721 10,036 Contract assets 3,424 815 Unbilled receivables 3,460 9,142 Total financial assets 16,605 19,993 Less: allowances ( 65 ) ( 65 ) Total financial assets, net 16,540 19,928 Inventories 2,103 2,685 Prepaid expenses and other current assets 3,490 5,218 Total current assets 112,902 93,466 Restricted cash 1,062 1,062 Investment in non-marketable equity securities 5,790 9,700 Right-of-use assets - Operating leases, net 10,772 13,137 Property and equipment, net 13,266 15,487 Goodwill 2,463 2,463 Other non-current assets 1,928 1,246 Total assets $ 148,183 $ 136,561 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 4,212 $ 5,947 Accrued compensation 10,320 11,246 Other accrued liabilities 6,505 4,735 Current portion of lease obligations - Operating leases 4,081 3,781 Deferred revenue 10,011 10,121 Total current liabilities 35,129 35,830 Deferred revenue, net of current portion 610 640 Long-term lease obligations - Operating leases 9,134 12,243 Long-term debt 28,631 — Other long-term liabilities 1,279 1,233 Total liabilities 74,783 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; 81,376 shares and 69,905 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 8 7 Additional paid-in capital 625,696 584,138 Accumulated other comprehensive income 126 — Accumulated deficit ( 552,430 ) ( 497,530 ) Total stockholders' equity 73,400 86

View Full Filing

View this 10-Q filing on SEC EDGAR