Codexis Q2 net loss narrows, helped by lower operating expenses
CDXS•Outlook
- Codexis expects 2026 revenue between $72 mln and $76 mln
- Company sees 2026 gross margin in the high 60% range
- Codexis expects cash and investments to fund operations through end of 2028
Overview
- US enzymatic therapeutics maker's Q2 revenue declined slightly year-over-year
- Company completed $25 mln equity raise post-quarter, increasing proforma cash to $80 mln
- Codexis reiterated full-year 2026 revenue and margin guidance
Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the biotechnology & medical research peer group is "buy"
- Wall Street's median 12-month price target for Codexis, Inc. is $7.00, about 366.7% above its August 10 closing price of $1.50
Result drivers and key details
- PRODUCT MIX SHIFT - Co said higher product revenue and improved gross margin were driven by customer launches of new, higher-margin products and a decline in less profitable, established products
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