Slide 1: Q4 & FY'2021 Results
We engineer enzymes to improve health… of people and the planet Q4 & FY’2021 Results February 24, 2022
Slide 2: Forward Looking Statements
Forward Looking Statements • These slides and any accompanying oral presentation 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
Slide 3: 2021-2022: Exceptional Growth For Codexis
2021-2022: Exceptional Growth For Codexis 8th Consecutive Year of Revenue Growth Positioned for Strong 2022 Annual product revenue Top line growth 45% to 51% Growth of 10%+ excluding Pfizer Annual product gross margin Continued growth in commercializing Performance Enzyme products HIGHEST EVER Annua
Slide 4: Strengthening Fundamentals Driving Growth
Strengthening Fundamentals Driving Growth Growing List of Commercial Stage Products Product Revenues June 2019 December 2021 Up Nearly 4x in Two Years1 11 commercialized 21 commercialized 140 products products $112M to $118M 120 100 Expanding Customer Base FY’19 FY’21 80 $70M $mm 16 customers with 2
Slide 5: Sustainable Manufacturing: Solid, Growing Base
Sustainable Manufacturing: Solid, Growing Base % of Performance Enzyme’s $91M 2021 Revenue • 36% product sales 5-year CAGR Sustainable • Key customers Manufacturing - Food & Industrial o 21 of top 25 pharma companies, plus growing list of biotechs & generics 4% o Industrial enzyme consumers • Growth
Slide 6: Life Science Tools: High Growth
Life Science Tools: High Growth % of Performance Enzymes $91M 2021 Revenue • Robust Life Science Tools sales growth – doubled in 2021 Life Science o Zero in 2018 → $3.6M in 2020 → $7.3M in 2021 Tools • Multi-prong market penetration strategies 8% o Launch of new products for use by multiple customer
Slide 7: Biotherapeutics: Rapid Pipeline Expansion and Validation
Biotherapeutics: Rapid Pipeline Expansion and Validation Preclinical Clinical # of Growing, Multi-Program Partnerships with World Leaders… Programs Discovery Research IND Enabling Phase I 2016 1 1 2018 4 1 1 …While Smartly Investing To Grow Our Asset Ownership Phase 1 Clinical Stage Assets: 2 1 1 •
Slide 8: Biotherapeutics: Pipeline Addressing Significant Unmet Patient Needs
Biotherapeutics: Pipeline Addressing Significant Unmet Patient Needs Program Discovery Preclinical Research IND-Enabling Phase 1 Partner CDX-6114 (Phenylketonuria) 1 CDX-7108 (Exocrine Pancreatic 2 Insufficiency) Oral Biologics CDX-6512 (Homocystinuria) Wholly owned CDX-6210 (Maple Syrup Urine Disea
Slide 9: Strong 2021 Results
Strong 2021 Results $105M $71M 68% FY’21 Total FY’21 Product Gross Product Margin Revenue +52% Revenue +134% vs. 55% in FY’20 $91M $14M $117M Performance Novel Cash Available for Enzymes Biotherapeutics Growth. No Debt $56M $49M $21M R&D Expense SG&A Expense Net Loss 9
Slide 10: 2021 Segment Financials
2021 Segment Financials Performance Enzymes Novel Biotherapeutics $91M $14M FY’21 Revenue FY’21 Revenue $33M ($19M) FY’21 Income from FY’21 Loss from Operations1 Operations1 Supported by $35M of corporate overhead expense (not allocated to either business segment) 1 Represents total revenues by segm
Slide 11: 2022 Guidance
2022 Guidance $152-158M $112-118M 65-70% Total Revenue Product Revenue Product Gross Margin 11
Slide 12: Investing to Continue Accelerated Growth
Investing to Continue Accelerated Growth Platform Investments to Enhance Discovery Velocity Selectively Accelerate Via Self-Funded Programs for Increased Speed & Value Potential 25+ Discovery Teams Target Larger, Faster to Commercialize Opportunities up from ~16 in 2020 Biotherapeutic Investments to
Slide 13: 2022 Corporate Goals and Catalysts
2022 Corporate Goals and Catalysts ❑ Continue driving widened adoption and product commercialization in pharma manufacturing Sustainable ❑ Deliver $75M+ enzyme sales to Pfizer for the manufacture of PAXLOVIDTM Manufacturing ❑ Step up new product offerings into larger, faster-to-commercialize food an
Slide 14: Nasdaq: CDXS www.codexis.com
Nasdaq: CDXS www.codexis.com