Enzymatic therapeutics maker Codexis' Q3 net loss narrows
CDXS•Codexis' third-quarter product revenue more than doubled year over year to $15.74 million, while its net loss narrowed to $8.13 million. The company reiterated 2026 revenue guidance of $72 million to $76 million and refinanced debt with a new $60 million loan facility.
1. Quarterly results
Codexis reported third-quarter product revenue of $15.74 million and a net loss of $8.13 million, or $0.08 per basic share. Revenue more than doubled year over year, driven by customer approvals and launches of new, higher-margin products.
2. Outlook and financing
The company reiterated its 2026 revenue guidance of $72 million to $76 million and expects gross margin in the low 70% range. Codexis said existing cash is expected to fund operations through the end of 2028 and that it refinanced debt with a new $60 million loan facility.
