0001200375-26-000006
SEC filingCodexis, Inc. reported a net loss of $44.0 million for fiscal year 2025, driven by an operating loss of $41.7 million on total revenues of $70.4 million. The company's cost structure was dominated by research and development expenses of $52.3 million and selling, general and administrative expenses of $47.1 million, with additional restructuring charges of $3.4 million. Despite the operating loss, the company maintained a strong liquidity position with $116.0 million in total cash, cash equivalents and restricted cash at year-end. The balance sheet shows total assets of $147.8 million against total liabilities of $97.3 million, resulting in stockholders' equity of $50.5 million. Cash flow from operations was negative $19.4 million, but this was offset by $23.5 million from investing activities and $27.9 million from financing activities, leading to a net increase in cash of $32.1 million for the period.
Codexis, Inc. reported total revenues of $70.4 million for fiscal year 2025, ending December 31, 2025. The company incurred significant operating expenses totaling $112.1 million, resulting in an operating loss of $41.7 million. The cost structure included $9.3 million in cost of product revenue, $52.3 million in research and development expenses, $47.1 million in selling, general and administrative expenses, and $3.4 million in restructuring charges. After accounting for interest income of $2.6 million and interest and other expense of $4.8 million, the company reported a loss before income taxes of $43.9 million. With a provision for income taxes of $47,000, the net loss for the period was $44.0 million. The company reported basic and diluted net loss per share of $0, with weighted average common stock shares outstanding of 87.1 million.
The filing provides total revenues of $70.4 million but does not disclose segment breakdowns, geographic mix, or specific growth drivers. The XBRL data shows product revenue and research and development revenue as not available (N/A), indicating that detailed revenue composition is not provided in the authoritative financial data. Without segment disclosure in the document content or XBRL dimensional data, revenue analysis is limited to the aggregate total revenue figure.
The company's financial performance shows significant operating losses with an operating margin of negative 59.2% based on operating loss of $41.7 million relative to total revenues of $70.4 million. Gross profit cannot be calculated as cost of goods sold is not explicitly provided; only cost of product revenue of $9.3 million is disclosed. The cost structure is dominated by research and development expenses of $52.3 million and selling, general and administrative expenses of $47.1 million, indicating heavy investment in both R&D and corporate operations. Restructuring charges of $3.4 million further impacted profitability.
Cash flow from operating activities was negative $19.4 million, primarily driven by the net loss of $44.0 million, partially offset by non-cash adjustments including $9.6 million in stock-based compensation and $5.2 million in depreciation and amortization. Investing activities provided $23.5 million in cash, mainly from $85.1 million in proceeds from maturity of short-term investments against $57.2 million in purchases. Financing activities provided $27.9 million, including $17.3 million from issuance of common stock and $9.9 million from long-term debt. The balance sheet shows total assets of $147.8 million, including current assets of $96.8 million with $50.8 million in cash and cash equivalents. Total liabilities stand at $97.3 million, including $40.1 million in long-term debt, resulting in stockholders' equity of $50.5 million.
The filing does not provide specific management guidance, strategic priorities, or forward-looking statements in the provided content. No outlook information is disclosed in the XBRL financial data or document content sections provided. Risk factors and future expectations typically found in 10-K filings are not included in the extracted content, limiting analysis of the company's forward-looking position.