Filing Flows › Codexis (CDXS) › Q1 2026
Codexis (CDXS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Codexis (CDXS) reported revenue of $15.2M for the first quarter 2026 (Q1 2026), +102% from a year earlier and -61% from the quarter before. Operating margin was -52.7%, net loss $8.7M (57.1% of revenue).
Codexis, Q1 2026: revenue $15.2M (+102% year over year), operating margin -52.7%, net loss $8.7M, operating cash flow −$13.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.2M | -61% | +102% |
| Operating profit | −$8.0M | -176% | — |
| Net earnings | −$8.7M | -191% | — |
| Operating cash flow | −$13.2M | -165% | — |
What changed
Revenue was $15.2M in Q1 2026, up 102% year over year and down 61% from the previous quarter. Research and development revenue was the largest line at 53% of revenue. Research and development revenue added $6.6M year over year (up 443%), 85% of the total change.
Operating costs exceeded revenue by $8.0M, an operating margin of -52.7%. Total costs fell 17% while revenue rose 102%. The quarter ended with a net loss of $8.7M, after a profit of $9.6M the previous quarter.
Operating cash flow was −$13.2M. Non-cash charges added back $1.3M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $7.2M. Capital expenditures of $176K exceeded it, leaving free cash flow of −$13.3M.
Questions
What was Codexis' revenue in the first quarter 2026?
Codexis (CDXS) reported revenue of $15.2M for the first quarter 2026 (Q1 2026), +102% from a year earlier and -61% from the quarter before.
Was Codexis profitable in the first quarter 2026?
Operating loss was $8.0M (-52.7% of revenue) and net loss $8.7M.
Source: Codexis 10-Q on SEC EDGAR.