Codexis hits 7th consecutive year of year-over-year revenue growth

February 28, 2021 |

In California, Codexis’s 2020 full year product gross margin exceeds 50% for the first time in company’s history and expects 2021 to be strong as well with projected total revenues of $82-85 million and product revenues of $36-39 million, especially thanks to its enzyme engineering platform, CodeEvolver.

“Codexis delivered strong results in 2020, despite the Company’s R&D operations being impacted by the pandemic for more than a quarter of the year. Our momentum in the second half of 2020 sets us up for robust revenue growth and product margins in 2021,” said John Nicols, Codexis President and CEO.

“CodeEvolver, our enzyme engineering platform, is constantly accelerating in its ability to design and commercialize novel, high performance enzymes that enable the promise of synthetic biology into the real world. As we continue expanding into new markets such as life science tools, biotherapeutics, and food and industrial applications, Codexis is poised for strong growth across multiple dimensions: we are expanding R&D to increase our new product discovery capacity and to pursue more self-funded programs; we are advancing our pipeline of projects, with a growing number of processes designed with Codexis enzymes nearing commercialization; and we are expanding the applications for our enzymes in opportunities that are faster to launch and have higher potential peak revenue. I am excited by the nearly limitless possibilities for enzymes as a product class; we have only scratched the surface of how Codexis enzymes can make a difference for the health of people and the planet.”

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Category: Fuels

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