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Financials · CDXS

Codexis Inc. (CDXS) financials

For the twelve months ended Jun 30, 2026, Codexis Inc. reported $77.68M of revenue and -$30.72M of net income.

Revenue, TTM
$77.68M
Revenue growth, YoY
+35.9%
Net income, TTM
-$30.72M
Net margin
-39.6%
Free cash flow, TTM
-$12.18M
EPS, diluted, TTM
-$0.32
Cash
$27.17M
Total debt
$40.88M
P/S
1.56
Market cap
$121.6M
Annual revenue$70.39M
FY2016FY2025
Annual net income-$43.97M
FY2016FY2025
Annual free cash flow-$23.85M
FY2016FY2025

CDXS revenue and earnings growth

CDXS revenueQ2 2026$14.91M

Quarter YoY
-2.7%
QoQ
-2.2%
FY YoY
+18.6%
5Y CAGR
+0.4%
10Y CAGR
+5.3%

CDXS revenue was $14.91M in fiscal Q2 2026 (ended Jun 30, 2026), down 2.7% from a year earlier and down 2.2% from the prior quarter. For the full fiscal 2025 it was $70.39M, up 18.6% from fiscal 2024. Compound annual growth was +0.4% over 5 years and +5.3% over 10 years. It rose in 8 of the last 10 fiscal years.

CDXS net incomeQ2 2026-$12.01M

CDXS net income was -$12.01M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$13.27M a year earlier. For the full fiscal 2025 it was -$43.97M, compared with -$65.28M in fiscal 2024.

CDXS EPSQ2 2026-$0.13

CDXS diluted EPS was -$0.13 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.16 a year earlier. For the full fiscal 2025 it was -$0.50, compared with -$0.89 in fiscal 2024.

CDXS free cash flowQ2 2026-$10.54M

CDXS free cash flow was -$10.54M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$20.48M a year earlier. For the full fiscal 2025 it was -$23.85M, compared with -$53.72M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$70.39M$59.34M$70.14M$138.59M$104.75M$69.06M$68.46M$60.59M$50.02M$48.84M
Cost of revenue$9.34M$16.29M$12.81M$38.03M$22.21M$13.74M$15.63M$12.62M$14.33M$9.75M
Gross profit$61.05M$43.06M$57.33M$100.56M$82.55M$55.31M$52.83M$47.97M$35.70M$39.08M
Research and development$52.31M$46.26M$58.88M$80.10M$55.92M$44.19M$33.87M$29.98M$29.66M$22.23M
Selling, general and admin$47.07M$55.15M$53.25M$52.17M$49.32M$35.05M$31.50M$29.29M$29.01M$25.42M
Operating income-$41.74M-$58.52M-$68.07M-$34.88M-$22.70M-$23.92M-$12.55M-$11.29M-$22.97M-$8.56M
Pre-tax income-$43.93M-$65.24M-$76.17M-$33.32M-$21.09M-$23.67M-$11.92M-$10.91M-$22.91M-$8.60M
Income tax$47.0K$34.0K$69.0K$276.0K$189.0K$339.0K$17.0K-$37.0K$81.0K-$40.0K
Net income-$43.97M-$65.28M-$76.24M-$33.59M-$21.28M-$24.01M-$11.94M-$10.88M-$23.00M-$8.56M
EPS, basic-$0.50-$0.89-$1.12-$0.51-$0.33-$0.40-$0.21-$0.21-$0.50-$0.21
EPS, diluted-$0.50-$0.89-$1.12-$0.51-$0.33-$0.40-$0.21-$0.21-$0.50-$0.21
Diluted shares87.1M73.4M68.1M65.3M64.6M59.4M56.5M52.2M46.2M40.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$50.79M$20.83M$65.12M$116.03M$118.89M$150.82M$92.22M$54.48M$32.78M$20.86M
Short-term investments$27.42M$54.19M$0-------
Receivables--$10.04M$31.90M$24.95M$13.89M$9.06M$11.55M$11.45M$5.92M
Inventory$1.82M$1.80M$2.69M$2.03M$1.16M$964.0K$371.0K$589.0K$1.04M$825.0K
Current assets$96.82M$98.77M$93.47M$162.89M$161.89M$184.42M$114.20M$68.20M$45.04M$27.23M
Goodwill$2.46M$2.46M$2.46M$3.24M$3.24M$3.24M$3.24M$3.24M$3.24M$3.24M
Total assets$147.80M$149.01M$136.56M$250.39M$246.38M$221.65M$149.07M$79.28M$53.63M$35.65M
Current liabilities$25.32M$23.65M$35.83M$49.07M$33.37M$24.98M$15.39M$18.11M$24.95M$12.37M
Short-term debt$0---------
Long-term debt$40.10M$28.91M$0-----$302.0K$0
Total debt$40.10M$28.91M$0-----$302.0K$0
Total liabilities$97.27M$82.08M$49.95M$105.60M$81.99M$51.54M$43.56M$22.98M$29.08M$16.55M
Shareholders' equity$50.53M$66.93M$86.61M$144.80M$164.39M$170.10M$105.52M$56.31M$24.55M$19.10M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$19.38M-$49.41M-$52.64M$11.28M-$14.27M-$16.46M-$12.56M-$14.09M-$8.76M-$1.86M
Capital expenditures$4.47M$4.30M$4.42M$8.31M$13.83M$3.75M$3.73M$2.77M$985.0K$888.0K
Free cash flow-$23.85M-$53.72M-$57.06M$2.98M-$28.09M-$20.21M-$16.29M-$16.86M-$9.74M-$2.75M
Investing cash flow$23.50M-$56.98M-$4.86M-$13.58M-$21.42M-$5.75M-$3.67M-$2.77M-$983.0K-$846.0K
Financing cash flow$27.93M$60.52M$8.17M-$575.0K$3.77M$80.81M$53.96M$38.57M$21.65M-$490.0K
Stock-based compensation$9.62M$13.09M$9.97M$14.53M$11.59M$7.73M$6.94M$7.89M$7.09M$5.67M
Depreciation and amortization$5.25M$4.95M$5.52M$5.40M------

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY18.6%-15.4%-49.4%32.3%51.7%0.9%13.0%21.1%2.4%16.8%
Gross margin86.7%72.6%81.7%72.6%78.8%80.1%77.2%79.2%71.4%80.0%
Operating margin-59.3%-98.6%-97.0%-25.2%-21.7%-34.6%-18.3%-18.6%-45.9%-17.5%
Net margin-62.5%-110.0%-108.7%-24.2%-20.3%-34.8%-17.4%-18.0%-46.0%-17.5%
Free cash flow margin-33.9%-90.5%-81.3%2.1%-26.8%-29.3%-23.8%-27.8%-19.5%-5.6%
Return on equity-87.0%-97.5%-88.0%-23.2%-12.9%-14.1%-11.3%-19.3%-93.7%-44.8%
Return on assets-29.8%-43.8%-55.8%-13.4%-8.6%-10.8%-8.0%-13.7%-42.9%-24.0%
Current ratio3.824.182.613.324.857.387.423.771.812.20
Debt to equity0.790.430.00-----0.010.00

Source: XBRL data Codexis Inc. files with the SEC, latest filing dated Aug 11, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

CDXS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
CDXS$77.68M+35.9%-$30.72M-39.6%$121.6M
LIN$36.24B+8.2%$7.01B19.3%$238.88B
APD$12.60B+4.5%-$47.30M-0.4%$69.27B
DOW$42.61B+4.2%-$897.00M-2.1%$22.41B
IFF$11.69B+24.3%$182.00M1.6%$21.14B
DD$7.06B+3.2%$301.00M4.3%$20.56B
LYB$31.96B+3.5%$1.30B4.1%$19.23B
ALB$6.15B+24.4%$681.63M11.1%$11.70B
SOLS$4.17B+9.4%$325.00M7.8%$10.01B

CDXS FAQ

9 questions
  • What is CDXS revenue?
    Codexis Inc. (CDXS) reported $77.68M of revenue for the twelve months ended Jun 30, 2026. That is up 35.9% from the year before. Revenue for fiscal 2025 was $70.39M.
  • Is CDXS profitable?
    No. Codexis Inc. reported a net loss of $30.72M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does CDXS have?
    Codexis Inc. reported $27.17M in cash and cash equivalents and $40.88M of debt on its most recent balance sheet in SEC filings.
  • How fast is CDXS revenue growing?
    Codexis Inc.'s revenue changed +18.6% in fiscal 2025, to $70.39M. Its compound annual growth rate was +0.4% over 5 years and +5.3% over 10 years.
  • What is CDXS gross margin?
    Codexis Inc.'s gross profit was $67.59M on $77.68M of revenue for the twelve months ended Jun 30, 2026, a gross margin of 87.0%.
  • What is CDXS free cash flow?
    Codexis Inc. generated -$12.18M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$10.40M less capital expenditures.
  • What is CDXS earnings per share?
    Diluted earnings per share were -$0.32 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did CDXS last report financial results?
    The latest statements here come from Codexis Inc.'s 10-Q filed on Aug 11, 2026, covering the period ended Jun 30, 2026.
  • Where does this CDXS financial data come from?
    Quantisnow builds these statements from the structured XBRL data Codexis Inc. files with the SEC. It is provided for information only and is not investment advice.