Codexis Inc

CDXS remains entrenched in a Stage 4 decline under all key moving averages. Medium-term bias is bearish with no active reversal patterns, and short-term oversold support raises bounce risk. Deferred selling on any rally into declining EMA/SMA resistance is advised.

• ↑Q2 revenue of $14.9M topped $13.8M estimate; 2026 guidance held at $72–76M
• ↑Gross margin improved to 73%, signaling rising operational efficiency
• ↓Net loss of $12M (−$0.13/sh) with low earnings yield indicates weak profitability