CODEXIS INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net loss | $(11,505) | $(22,617) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 1,252 | 1,466 |
| Reduction in the carrying amount of right-of-use assets | 773 | 1,249 |
| Stock-based compensation | 3,171 | 2,809 |
| Equity securities earned from research and development activities | — | (50) |
| Non-cash interest expense | 82 | — |
| Amortization of discount on short-term investments | (41) | — |
| Other non-cash items | (10) | (5) |
| Changes in operating assets and liabilities: | ||
| Financial assets | 5,571 | 20,856 |
| Inventories | 244 | 33 |
| Prepaid expenses and other assets | (146) | 586 |
| Accounts payable | (2,038) | 694 |
| Accrued compensation and other accrued liabilities | (3,875) | (11,091) |
| Other long-term liabilities | (996) | (1,415) |
| Deferred revenue | (271) | (1,727) |
| Net cash used in operating activities | (7,789) | (9,212) |
| Investing activities: | ||
| Purchase of property and equipment | (1,130) | (2,539) |
| Proceeds from sale of property and equipment | 11 | 5 |
| Investment in short-term investments | (27,444) | — |
| Investment in non-marketable securities | — | (750) |
| Net cash used in investing activities | (28,563) | (3,284) |
| Financing activities: | ||
| Proceeds from exercises of stock options | 281 | 281 |
| Proceeds from issuance of common stock in connection with public offering | — | 1,540 |
| Costs incurred in connection with issuance of common stock at public offering | (60) | (65) |
| Proceeds from long-term debt | 29,521 | — |
| Payment of debt issuance costs | (461) | — |
| Taxes paid related to net share settlement of equity awards | — | (404) |
| Net cash provided by financing activities | 29,281 | 1,352 |
| Net decrease in cash, cash equivalents and restricted cash | (7,071) | (11,144) |
| Cash, cash equivalents and restricted cash at the beginning of the period | 66,697 | 116,026 |
| Cash, cash equivalents and restricted cash at the end of the period | $59,626 | $104,882 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $147 | $7 |
| Income taxes paid | $17 | $193 |
| Supplemental non-cash investing and financing activities: | ||
| Capital expenditures incurred but not yet paid | $371 | $819 |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets as of March 31, 2024 and 2023 to the total of the same such amounts shown above in the unaudited condensed consolidated statements of cash flows:
| March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents | $58,046 | $102,831 |
| Restricted cash, current and non-current | 1,580 | 2,051 |
| Total cash, cash equivalents and restricted cash | $59,626 | $104,882 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.