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Codexis, Inc.(CDXS)Earnings, Financials & Key Ratios
CDXS•NASDAQ
$2.60
Price updated Jul 7, 2026
AboutCodexis, Inc. discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver protein engineering technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes. The company's platform is also used to discover novel biotherapeutic drug candidates for targeted human diseases, as well as for molecular biology and in vitro diagnostic enzymes. It sells its products to pharmaceutical manufacturers through its direct sales and business development force in the United States and Europe. The company was incorporated in 2002 and is headquartered in Redwood City, California.Show more
- Revenue$70M+18.6%
- EBITDA-$33M+43.6%
- Net Income-$44M+32.6%
- EPS (Diluted)-0.50+43.8%
- Gross Margin86.73%+19.5%
- EBITDA Margin-47%+52.5%
- Operating Margin-54.46%+44.8%
- Net Margin-62.47%+43.2%
- ROE-74.88%+11.9%
CDXS Price & Volume
Codexis, Inc. (CDXS) stock price & volume — 10-year historical chart
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Persistent Revenue Volatility Masks Structural Solvency Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Persistent liquidity and solvency
Key Thesis Takeaways
- Codexis faces a challenging outlook characterized by extreme revenue lumpiness, as evidenced by quarterly fluctuations between $7.5M and $38.9M, which complicates long-term operational planning.
- While the company maintains high gross margins often exceeding 80%, the inability to achieve consistent operating scale has resulted in a massive accumulated deficit of $615.5M.
- Investors should remain cautious as the firm's reliance on debt financing, which has surged to $72.9M, continues to pressure the balance sheet amidst persistent cash burn.
Verdict Logic
the company's reliance on debt to fund operations, evidenced by a total debt load of $72.9M against a shrinking cash buffer of $37.0M, presents a high risk of further shareholder dilution.
CDXS Growth Metrics
Codexis, Inc. (CDXS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years5.35%
5 Years0.38%
3 Years-20.22%
TTM56.76%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM57.04%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM63.04%
Return on Capital
10 Years-32.89%
5 Years-31.14%
3 Years-42.59%
Last Year-30.93%
CDXS Recent Earnings
Codexis, Inc. (CDXS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.10+9.1%
$0.11
Rev
$15M+5.0%
$15M
Q2 2026
Mar 11, 2026Metric
Actual
Est
EPS
$0.11+1000.0%
$0.01
Rev
$39M+8.6%
$36M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.22-46.7%
$0.15
Rev
$9M-76.0%
$36M
Q3 2025
Aug 13, 2025Metric
Actual
Est
EPS
$0.16+5.9%
$0.17
Rev
$15M-21.3%
$19M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.10vs $0.11+9.1% | $15Mvs $15M+5.0% |
| Q2 2026 | Mar 11, 2026 | $0.11vs $0.01+1000.0% | $39Mvs $36M+8.6% |
| Q4 2025 | Nov 6, 2025 | $0.22vs $0.15-46.7% | $9Mvs $36M-76.0% |
| Q3 2025 | Aug 13, 2025 | $0.16vs $0.17+5.9% | $15Mvs $19M-21.3% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Codexis, Inc. (CDXS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $2.60 | $236.33M | -5.20 | 18.61% | -62.47% | -74.88% | — | |
| $1.46 | $355.38M | -10.43 | 849.33% | -19.38% | -7.19% | — | |
| $37.92 | $3.9B | -46.81 | 120.01% | -49.17% | -5.89% | — | |
| $46.23 | $2.71B | 12.49 | 34.75% | 19% | 10.75% | — | |
| $5.67 | $1.97B | -9.45 | 698.96% | -102.06% | -44.1% | — | |
| $4.07 | $444.42M | -2.02 | — | — | -70.79% | — |
Compare CDXS vs Peers
Codexis, Inc. (CDXS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CDXS SEC Filings & Documents
Codexis, Inc. (CDXS) SEC filings — annual & quarterly reports (10-K, 10-Q)
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CDXS Frequently Asked Questions
Codexis, Inc. (CDXS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Codexis, Inc.'s revenue?
Codexis, Inc. (CDXS) reported $78.1M in revenue for fiscal year 2025. This represents a 544% increase from $12.1M in 2006.
How fast is Codexis, Inc. growing?
Codexis, Inc. (CDXS) grew revenue by 18.6% over the past year. This is strong growth.
Is CDXS profitable?
Codexis, Inc. (CDXS) reported a net loss of $32.0M for fiscal year 2025.
Dividend & Returns
What is CDXS's return on equity?
Codexis, Inc. (CDXS) has a return on equity (ROE) of -74.9%. Negative ROE indicates the company is unprofitable.
What is Codexis, Inc.'s free cash flow?
Codexis, Inc. (CDXS) had negative free cash flow of $22.1M in fiscal year 2025, likely due to heavy capital investments.