Slide 1: Q1 2025 Results
Q1 2025 Results May 14, 2025 CODEXIS:
Slide 2: Forward Looking Statements
Forward Looking Statements These slides contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial or operational performance and involve known and unknown risks, uncertainties and other factors that could cause our actua
Slide 3: Q1: Largely In Line with Expectations
Q1: Largely In Line with Expectations • Maintained strong financial position • Runway through cash flow positivity by end of 2026 • Q1 revenue impacted by delay of $2.5M one-time payment from Pharma Biocatalysis customer • Delayed from March to April 2025 • No impact to overall 2025 revenue projecti
Slide 4: Q1: Recent & Upcoming Highlights
Q1: Recent & Upcoming Highlights • Continued momentum in Pharma Biocatalysis • Product mix is changing; driving improvements in gross margin • New customers in mid-tier pharma segment will drive future revenue • Secured first revenue-generating ECO Synthesis Contract • Inaugural project to enter the
Slide 5: Multiple Positive External Tailwinds for ECO Synthesis
Multiple Positive External Tailwinds for ECO Synthesis 1 Continued success of siRNA therapeutics points to growing demand Recent label expansion, 7th FDA approval, & positive data in a large cardiovascular indication 2 Pressure to onshore manufacturing ECO Synthesis enables faster onshoring with vas
Slide 6: Three Core Customer Segments
Three Core Customer Segments Small siRNA Drug • Interested in ECO Synthesis Innovators • Tend to have limited resources Large siRNA Drug • Interested in ECO Synthesis Innovators • Focused on a demand problem 2-3 years away; “wait and see” approach • First mover on ECO Synthesis technology • Looking
Slide 7: 2025 TIDES USA Presentations
2025 TIDES USA Presentations Process Development and CMC Updates Codexis Mainstage Talk – Oral Presentation #1 • Demonstrate consistent, reproducible enzymatic siRNA manufacturing process using inclisiran Codexis Poster Presentation • Introduce a proprietary machine learning tool to optimize ligase
Slide 8: First Quarter 2025 Financial Results
First Quarter 2025 Financial Results $M, Except Per Share Amounts Three Months Ended March 31 Q1 Takeaways 2025 2024 • Q1’24 revenue higher than normal due to: Total Revenue $7.5 $17.1 Cost of Product Revenue $2.7 $4.9 o $6M in one-time revenue related to Roche Product Gross Margin 55% 49% agreement
Slide 9: ECO Synthesis vs. Traditional Chemistry: Potential Impact
ECO Synthesis vs. Traditional Chemistry: Potential Impact Phosphoramidite ECO Synthesis Potential Chemistry Platform Impact Maximum Synthesis Batch ~5-10 kg ~25-50 kg 5x + Size (kg) bigger Production Time ~12-22 ~6-11 50% (months) months months faster CapEx Required ~$500-700M ~$150-210M 70% (millio
Slide 10: Nasdaq: CDXS www.codexis.com
Nasdaq: CDXS www.codexis.com