Every 10-Q that Codexis, Inc. (CDXS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CDXS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CDXS filings page.
Codexis, Inc. reported for the quarter ended June 30, 2026 that it remains a single-reportable-segment enzyme engineering company focused on therapeutics manufacturing, including its ECO Synthesis and pharma biocatalysis businesses. Total revenues were $14.9 million for the quarter and $30.2 million for the first half of 2026, with first-half revenues up 32% from 2025, driven mainly by higher enzyme product sales for commercial and clinical-stage manufacturing.
The company generated a first-half net loss of $20.7 million, improving from a $34.0 million loss a year earlier as operating expenses declined across research and development and selling, general and administrative functions. Product gross margin reached 73% for both the quarter and year-to-date, reflecting a shift toward more profitable products.
Liquidity consisted of $27.2 million in cash and cash equivalents and $27.7 million in short-term investments at June 30, 2026, plus working capital of $48.4 million. Codexis carried $40.9 million of Innovatus term debt and subsequently strengthened its balance sheet through a July 2026 underwritten equity offering, raising approximately $23.1 million in net proceeds.
Codexis, Inc. reported sharply improved results for the quarter ended March 31, 2026, with total revenue rising to $15.2 million from $7.5 million a year earlier as both product sales and research and development revenue grew. Product revenue increased to $7.2 million, while research and development revenue jumped to $8.1 million, largely from recognizing deferred revenue under a Merck licensing agreement and ECO Synthesis evaluation services.
Operating loss narrowed to $8.0 million from $20.5 million, aided by lower research and development and selling, general and administrative expenses, including reduced headcount and stock-based compensation. Net loss was $8.7 million, or $0.10 per share, compared with $20.7 million, or $0.25 per share, in the prior-year period.
Codexis ended the quarter with $36.6 million in cash and cash equivalents and $28.6 million in short-term investments, totaling $65.1 million in liquidity, and working capital of $64.8 million. Long-term debt was $40.5 million, primarily from the five-year Innovatus Loan, which carries an effective interest rate of 12.7%. The company also maintains an at-the-market equity program with $26.4 million of capacity remaining and believes existing resources and expected revenue will fund operations for at least the next 12 months while it advances its ECO Synthesis RNAi manufacturing platform and small-molecule biocatalysis business.
Codexis (CDXS) filed its Q3 2025 10‑Q, reporting revenue of $8.6 million and a net loss of $19.6 million (basic and diluted loss per share $0.22). Product revenue was $6.8 million and research and development revenue was $1.8 million. Product gross margin was 64%.
Cash and cash equivalents were $25.4 million with short‑term investments of $33.4 million, totaling $58.7 million as of September 30, 2025. Long‑term debt was $39.7 million, primarily the Innovatus term loan. Operating cash use was $39.5 million for the nine‑month period; financing inflows included $17.3 million of common stock sales under the Cantor at‑the‑market agreement.
Subsequent events: in October 2025, Codexis entered an enzyme supply assurance agreement with Merck that provides a one‑time $37.8 million payment expected in Q4 2025. On November 6, 2025, the company announced a workforce reduction of approximately 24%, with an estimated $3.5 million expense expected in Q4 2025. Shares outstanding were 90,324,383 as of November 3, 2025.
Codexis, Inc. reported improved quarterly performance. Total revenue for the three months ended June 30, 2025 was $15.3 million, up from $8.0 million a year earlier, driven by $7.4 million of product sales and $7.9 million of research and development revenue that included a $4.7 million milestone/license recognition. Product gross margin expanded to 72% in the quarter from 45% a year ago, helping reduce the quarterly loss to $13.3 million ($0.16 per share) versus a $22.8 million loss in Q2 2024.
Liquidity and financing: cash and cash equivalents totaled $26.8 million and short-term investments were $39.6 million, for combined cash and short-term investments of $66.3 million, and working capital of $73.5 million. The company has a $40.0 million term loan facility with Innovatus (second $10.0 million tranche funded June 27, 2025) and total long-term debt reported at $39.4 million with an effective interest rate of 12.7% as of June 30, 2025. Operating cash used was $31.8 million for the six months ended June 30, 2025. Codexis continues investment in its ECO Synthesis platform and pharma biocatalysis business.