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August 5 , 2021 CODEXISⓇ Codexis Reports Second Quarter 2021 Financial Results Record Product Revenue of $ 14.7M , up 227 % YOY Record Product Gross Margin of 71 % Company Raises Guidance for 2021 Total Revenue to $ 98 - 103 M and 2021 Product Revenue to $ 59 - 63 M REDWOOD CITY , Calif . , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) Codexis , Inc. ( Nasdaq : CDXS ) , a leading enzyme engineering company enabling the promise of synthetic biology , today announced financial results for the second quarter ended June 30 , 2021 and provided a business update . " Codexis had an extraordinarily strong second quarter , with record product revenue that also drove our product gross margin to a new high , " said John Nicols , Codexis President and CEO . " Our Sustainable Manufacturing business showcased Codexis ' ability to translate our decades of R & D work designing high performance enzymes into impressive top line growth . We received a new order from a global pharmaceutical company for commercial - scale quantities of one of Codexis ' proprietary enzymes for delivery in the second half of 2021 , which should culminate in the largest annual sales for a product in the Company's history . In the second quarter , another facet of Codexis ' business model was highlighted by the receipt of a CodeEvolver® platform milestone payment from GlaxoSmithKline ( GSK ) , our largest ever backend license payment . " Our Biotherapeutics business demonstrated its strategic value in Q2 , with our partner Takeda expanding the collaboration to a fourth program . In addition to customer - driven projects , we are applying our R & D resources to advance Codexis ' self - funded programs further into development across all of our business segments , in order to capture even greater value in the future . This is a defining period of growth for Codexis , and we look forward to building upon this momentum as our proprietary platform and growing pipeline continue to deliver the promise of synthetic biology to improve the improve the health of people and the planet , " concluded Mr. Nicols . Key Performance Indicators and Recent Business Highlights • Product revenues increased 227 % to $ 14.7 million in Q2'21 , primarily driven by the sale of enzymes used to manufacture branded pharmaceutical products . • Product gross margin climbed to 71 % in Q2'21 , driven by a shift in the sales mix to higher margin products . • In the second quarter , Codexis had 22 customers who contributed over $ 100,000 in revenue , nine of which contributed over $ 1 million in revenue .