CDXS Earnings Prediction
The chart below shows how CDXS performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CDXS sees a -2.19% change in stock price 10 days leading up to the earnings, and a -9.22% change 10 days following the report. On the earnings day itself, the stock moves by +0.95%. This data can give you a slight idea of what to expect for the next quarter's release.
CDXS Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
12.83M
38.33%
60.83%
Gross Margin
66.36%
-12.41%
17.22%
Operating Margin
-129.02%
-36.79%
-54.38%
Net Margin
-160.84%
-57.26%
-43.60%
EPS
-0.29
-42.00%
-9.38%
No Data Available
CDXS Earnings Analysis
Codexis, Inc. Corporation (CDXS.O) Earnings Conference Call
Positive
Quarterly Revenue Comparison: Total revenues were $12.8 million for the third quarter of 2024, including product revenue of $11.2 million and R&D revenue of $1.7 million, compared to total revenue of $9.3 million for the third quarter of 2023.
Product Revenue Dynamics: The increase in product revenue was driven by timing of customer orders, while the decrease in R&D revenue was primarily due to lower, non-recurring items, including for biotherapeutics program that we previously discontinued.
Gross Margin Improvement: Product gross margin was 61% this quarter, up from 58% in Q3 2023, largely driven by product mix.
R&D Expense Reduction: R&D expenses for the third quarter of 2024 were $11.5 million compared to $13.7 million last year, reflecting continued benefit of the expense control actions we took last year resulting in a 16% year-over-year reduction.
Strong Cash Position: We ended the quarter in a strong cash position with $90 million in cash, cash equivalents and investments, which we expect will fund our planned operations through profitability and into 2027.
Negative
Quarterly Revenue Comparison: Total revenues were $12.8 million for the third quarter of 2024, compared to total revenue of $9.3 million for the third quarter of 2023, indicating a significant increase but still reflecting a challenging year-over-year growth rate.
R&D Revenue Decline: R&D revenue decreased to $1.7 million from $3.9 million in the same quarter last year, primarily due to lower non-recurring items, including for biotherapeutics programs that were previously discontinued.
Net Loss Comparison: The net loss for the third quarter of 2024 was $20.6 million compared to $34.9 million for the third quarter of 2023, indicating ongoing financial challenges despite improvements in cash position.
SG&A Expense Increase: SG&A expenses increased to $13.6 million compared to $12.3 million in the third quarter of 2023, largely due to an increase in consulting and outside services, reflecting rising operational costs.
R&D Expense Reduction: R&D expenses for the third quarter of 2024 were $11.5 million compared to $13.7 million last year, showing a reduction but still indicating high operational costs that need to be managed.
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CDXS Earning Call Sentiment
Codexis, Inc. (CDXS) Q3 2024 Earnings Call Transcript
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CDXS.O
-1.88%Positive
The earnings call presents a positive outlook with a 37.6% revenue increase and improved margins. Despite challenges in R&D revenue, the company shows strong cash reserves and reduced net losses. The Q&A highlights interest from large siRNA developers and potential revenue from partnerships. While competitive pressures and operational risks exist, the financial health and strategic focus on partnerships and innovation suggest a positive stock movement.
