Exhibit 12.1

CODEXIS, INC.

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands)
 

 
 
 
Years Ended December 31,
 
 
 
2014
 
2015
 
2016
 
2017
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
 
—
 
—

 
14

 
141

 
84

 
Total Fixed Charges
 
 
 
 
 
14

 
141

 
84

 
 
 
 
 
 
 
 
 
 
 
 
Earnings (deficiency) available for fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Pre-tax loss from continuing operations
 
(19,327)
 
(7,919)

 
(8,598)

 
(23,239
)
 
(10,878
)
 
add: Fixed Charges
 
 
 
 
 
14

 
141

 
84

 
Earnings (deficiency of earnings) available to cover fixed charges
 
(19,327)
 
(7,919)

 
(8,584)

 
(23,098
)
 
(10,794
)
Ratio of earnings to fixed charges (1)
 
 N/A
 
 N/A

 
 N/A

 
 N/A

 
N/A

 
 
 
(1)
Our earnings were inadequate to cover fixed charges for the years ended December 31, 2014 through December 31, 2018.