Codexis, Inc.
CDXS Nasdaq· Industrial Organic Chemicals
Last close · Oct 23, 2026
$1.28
KIRA · Stoqly’s AI analyst, in plain words
- Codexis, Inc. had $70.4M of revenue in fiscal 2025, up 18.6% on the year before. Over five years, revenue changed +0.4% a year on average.
- Its operating margin was −59.3%, up 39.3 pts: of every 100 in sales, about −59 is left after running the business.
- Codexis, Inc. lost $44.0M in fiscal 2025.
- Free cash flow was −$23.8M in fiscal 2025, −33.9% of revenue.
- Codexis, Inc. has $38.1M more cash than debt.
Market cap
$117M
P/E
—
Revenue
$70.4M
Net income
−$44.0M
Free cash flow
−$23.8M
Operating margin
−59.3%
Codexis, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+18.6%
Yes. Sales grew 18.6% last year.
Does it make a profit?
−62.5%
No. It lost money last year.
Does profit turn into cash?
−33.9%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Codexis, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 11, 2026
- Legal name
- CODEXIS, INC.
- CIK
- 0001200375
Codexis, Inc. · CDXS
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $105M | $139M | $70.1M | $59.3M | $70.4M |
| Revenue growth | 51.7% | 32.3% | −49.4% | −15.4% | 18.6% |
| Gross margin | 78.8% | 72.6% | 81.7% | 72.6% | 86.7% |
| Operating margin | −21.7% | −25.2% | −97.0% | −98.6% | −59.3% |
| Net income | −$21.3M | −$33.6M | −$76.2M | −$65.3M | −$44.0M |
| Net margin | −20.3% | −24.2% | −108.7% | −110.0% | −62.5% |
| Diluted EPS | −$0.33 | −$0.51 | −$1.12 | −$0.89 | −$0.50 |
| Cash | |||||
| Cash from operations | −$14.3M | $11.3M | −$52.6M | −$49.4M | −$19.4M |
| Capital expenditure | $13.8M | $8.3M | $4.4M | $4.3M | $4.5M |
| Free cash flow | −$28.1M | $3.0M | −$57.1M | −$53.7M | −$23.8M |
| FCF margin | −26.8% | 2.1% | −81.3% | −90.5% | −33.9% |
| Share count change | 8.8% | 1.2% | 4.3% | 7.7% | 18.7% |
| Debt and strength | |||||
| Cash and short-term investments | $117M | $114M | $65.1M | $73.5M | $78.2M |
| Debt incl. finance leases | — | — | $0.0M | $28.9M | $40.1M |
| Shareholders' equity | $164M | $145M | $86.6M | $66.9M | $50.5M |
| Current ratio | 4.9x | 3.3x | 2.6x | 4.2x | 3.8x |
| Returns and quality | |||||
| Return on capital | — | — | −250.1% | −206.6% | −265.4% |
| Return on equity | −12.7% | −21.7% | −65.9% | −85.0% | −74.9% |
| Return on tangible equity | −13.2% | −23.7% | −90.6% | −101.3% | −91.5% |
| Piotroski F-score | 3 | 3 | 2 | 3 | 4 |
| Altman Z'' | −0.2 | −2.0 | −10.6 | −10.8 | −11.6 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$4.9M
6 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Codexis, Inc. · CDXS
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $1.28 a share, the company is worth $117M.
Source: SEC EDGAR XBRL filings (CIK 0001200375). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.