Filing Flows › Codexis (CDXS) › Q1 2025
Codexis (CDXS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
Codexis (CDXS) reported revenue of $7.5M for the first quarter 2025 (Q1 2025), -56% from a year earlier and -65% from the quarter before. Operating margin was -271.6%, net loss $20.7M (274.3% of revenue).
Codexis, Q1 2025: revenue $7.5M (-56% year over year), operating margin -271.6%, net loss $20.7M, operating cash flow −$13.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.5M | -65% | -56% |
| Operating profit | −$20.5M | — | — |
| Net earnings | −$20.7M | — | — |
| Operating cash flow | −$13.8M | — | — |
What changed
Revenue was $7.5M in Q1 2025, down 56% year over year and down 65% from the previous quarter. Product revenue was the largest line at 80% of revenue. Research and development revenue lost $6.0M year over year (down 80%), 63% of the total change.
Operating costs exceeded revenue by $20.5M, an operating margin of -271.6%. Total costs fell 3% while revenue fell 56%. The fastest-growing cost line was Research & development (+15%). The quarter ended with a net loss of $20.7M, wider than the previous quarter's $10.4M loss.
Operating cash flow was −$13.8M. Non-cash charges added back $1.2M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $3.3M. Capital expenditures of $1.3M exceeded it, leaving free cash flow of −$15.1M.
Questions
What was Codexis' revenue in the first quarter 2025?
Codexis (CDXS) reported revenue of $7.5M for the first quarter 2025 (Q1 2025), -56% from a year earlier and -65% from the quarter before.
Was Codexis profitable in the first quarter 2025?
Operating loss was $20.5M (-271.6% of revenue) and net loss $20.7M.
Source: Codexis 10-Q on SEC EDGAR.