Based on the most recent earnings release below is a concise earnings summary for Codexis Inc CDXS f
Intellectia.AI Updated: 1970-01-01
Based on the most recent earnings release, below is a concise earnings summary for Codexis, Inc. (CDXS) for the quarter ended June 30, 2024.
Codexis, Inc. Reports Second Quarter 2024 Financial Results
Overview: Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, announced its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics:
| Metric | Q2 2024 | Q2 2023 | Year-over-Year % Change | Wall Street Consensus |
|---|---|---|---|---|
| Total Revenue | $5.91M | $19.21M | -69.22% | $7.82M |
| Earnings Per Share (EPS) | $-0.32 | $-0.17 | -88.24% | $-0.27 |
Interpretation: Codexis experienced a significant decrease in total revenue year-over-year, missing Wall Street consensus estimates. The company's earnings per share also fell short of estimates, reflecting broader challenges faced in this period.
Operational Data:
| Operational Metric | Q2 2024 | Q2 2023 |
|---|---|---|
| Cash & Cash Equivalents | $73.2M | Not disclosed |
Comments from Company Officers: No specific comments from company officers were provided in the earnings release.
Dividends or Share Repo Program: There were no announcements regarding dividends or share repurchase programs in the provided content.
Forward Guidance: The report did not include forward guidance for the upcoming quarters or fiscal year.
Stock Price Movement: Following the earnings release, Codexis, Inc.'s stock experienced a price change of +4.30%.
Summary: Codexis, Inc. reported a challenging second quarter with significant revenue downturns and earnings per share falling below market expectations. The company's cash position remains stable, yet a clearer breakdown of segment revenues and forward guidance in future reports would benefit stakeholders. Market reactions post-earnings were slightly positive, suggesting investor confidence despite the disappointing quarterly results.