Slide 1: Q4 & FY'2020 Results
We engineer enzymes to improve health… of people and the planet Q4 & FY’2020 Results February 25, 2021
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: Strong 2020 Results
Strong 2020 Results 7th Consecutive Year of YOY Positioned for Strong 2021 Revenue Growth Quarterly Product Revenue (Q4’20) Top line growth 19-23% HIGHEST EVER Annual product gross margin Product gross margin expansion Investment in growth Cash balance opportunities 3
Slide 4: Sustainable Manufacturing: Solid, Growing Base
Sustainable Manufacturing: Solid, Growing Base % Total 2020 Performance Enzymes Revenue • 22% product sales 5-year CAGR Sustainable Manufacturing - • Key customers Food & Industrial • 21 of top 25 pharma companies 4% • Tate & Lyle, other large industrials emerging • 15 customers > $100K avg quarterl
Slide 5: Life Science Tools: High Growth
Life Science Tools: High Growth % Total 2020 Performance Enzymes Revenue • From $0 revenue in 2018 to $3.6 M in 2020 • Three commercial enzymes • Enzymes marketed to multiple customers: • Primary target: next gen sequencing users Sustainable • Closer to end market Manufacturing - Pharma Life Science
Slide 6: Biotherapeutics: Rapid Pipeline Expansion and Validation
Biotherapeutics: Rapid Pipeline Expansion and Validation • Key Partnerships: Preclinical Clinical # of • Nestlé Health Science Program Discovery Research IND Enabling Phase I • Takeda 2016 1 1 • Growth Drivers: • Accelerating number of candidates entering clinical trials 2018 4 1 1 • Partnered asset
Slide 7: Strong 2020 Results
Strong 2020 Results $69M $30M 54.5% FY’20 Total FY’20 Product Gross Product Margin Revenue +1% Revenue +3% vs. 47% in FY’19 $149M Cash Available for $48M $21M Growth. No Debt Performance Novel Enzymes Biotherapeutics $44M $35M $24M R&D Expense SG&A Expense Net Loss 7
Slide 8: 2021 Guidance
2021 Guidance $82-85M $36-39M 54-58% Total Revenue Product Revenue Product Gross Margin
Slide 9: 2021 Corporate Goals and Catalysts
2021 Corporate Goals and Catalysts ❑ Continue widening pharma adoption, and advancing clients to new CodeEvolver® platform deals Sustainable ❑ Enzymes for Phase 2 / 3 pharma processes commercialize into new recurring product revenues Manufacturing ❑ $M+ food enzymes revenues from Tate & Lyle’s recen
Slide 10: Growth Accelerators in Motion, in Parallel
Growth Accelerators in Motion, in Parallel 2020 16 More times at bat 100% Discovery capacity (# of R&D teams) 2016 8 2020 51 More players on base 200% Programs in pre-commercial pipeline1 2016 17 2020 16 More runs per inning 200+% Programs commercializable in <3yrs2 2016 5 Programs w/ $10m+ peak rev
Slide 11: Nasdaq: CDXS www.codexis.com
Nasdaq: CDXS www.codexis.com