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.