$2.72
+1.1%Codexis, 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.
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
CDXS โข NASDAQ
| Codexis, Inc. Income Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | ||||||||||||||||||||
70.4M | 59.3M | 70.1M | 138.6M | 104.8M | 69.1M | 68.5M | 60.6M | 50M | 48.8M | 41.8M | 35.3M | 31.9M | 88.3M | 123.9M | 107.1M | 82.9M | 50.5M | 25.3M | 12.1M | |
GROSS PROFIT | ||||||||||||||||||||
(14.4M) | (16.3M) | (12.8M) | (38M) | (22.2M) | (13.7M) | (15.6M) | (12.6M) | (14.3M) | (9.8M) | (6.6M) | (9.7M) | (14.6M) | (30.6M) | (41.8M) | (28M) | (16.7M) | (13.2M) | (8.3M) | (1.8M) | |
56M | 43.1M | 57.3M | 100.6M | 82.5M | 55.3M | 52.8M | 48M | 35.7M | 39.1M | 35.2M | 25.6M | 17.4M | 57.7M | 82.1M | 79.1M | 66.2M | 37.3M | 17M | 10.3M | |
OPERATING INCOME | ||||||||||||||||||||
(94.3M) | (101.6M) | (125.4M) | (135.4M) | (105.2M) | (79.2M) | (65.4M) | (59.3M) | (58.7M) | (47.6M) | (43M) | (44.7M) | (58.5M) | (88.2M) | (98M) | (86.2M) | (84.6M) | (81.3M) | (55.4M) | (29.1M) | |
(47.1M) | (55.1M) | (53.3M) | (52.2M) | (49.3M) | (35M) | (31.5M) | (29.3M) | (29M) | (25.4M) | (22.3M) | (21.9M) | (26.9M) | (31.4M) | (36.9M) | (33.8M) | (29.9M) | (35.7M) | (19.7M) | (11.9M) | |
(44.4M) | (46.3M) | (58.9M) | (80.1M) | (55.9M) | (44.2M) | (33.9M) | (30M) | (29.7M) | (22.2M) | (20.7M) | (22.8M) | (31.6M) | (56.8M) | (61M) | (52.4M) | (54.7M) | (45.6M) | (35.6M) | (17.3M) | |
-38.3M | -58.5M | -68.1M | -34.9M | -22.7M | -23.9M | -12.5M | -11.3M | -23M | -8.6M | -7.8M | -19.1M | -41.1M | -30.5M | -15.9M | -7.1M | -18.4M | -44M | -38.3M | -18.8M | |
PRE-TAX INCOME | ||||||||||||||||||||
(4.8M) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (675K) | (1.2M) | (2M) | (2.4M) | (2.5M) | (724K) | |
-2.2M | 3.7M | 4.2M | 1.4M | 459K | 405K | 1.3M | 671K | 147K | 60K | 19K | 18K | 60K | 252K | 304K | -42K | -1.9M | -827K | -1M | 18K | |
(2.9M) | (165K) | (13.3M) | (3.2M) | (0.0) | (0.0) | (0.0) | -291K | -92K | -94K | -168K | -234K | (0.0) | -326K | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-5.6M | -6.7M | -8.1M | 1.6M | 1.6M | 249K | 631K | 380K | 55K | -34K | -149K | -216K | -244K | -74K | -402K | -1M | -1.9M | -827K | -1M | 18K | |
-43.9M | -65.2M | -76.2M | -33.3M | -21.1M | -23.7M | -11.9M | -10.9M | -22.9M | -8.6M | -7.9M | -19.3M | -41.4M | -30.6M | -16.3M | -8.2M | -20.2M | -44.8M | -39.4M | -18.8M | |
NET INCOME | ||||||||||||||||||||
(47K) | (34K) | (69K) | (276K) | (189K) | (339K) | (17K) | -37K | (81K) | -40K | -338K | -256K | -87K | (270K) | (241K) | (384K) | (66K) | (327K) | -408K | -127K | |
-44M | -65.3M | -76.2M | -33.6M | -21.3M | -24M | -11.9M | -10.9M | -23M | -8.6M | -7.6M | -19.1M | -41.3M | -30.9M | -16.6M | -8.5M | -20.3M | -45.1M | -39M | -18.7M |
CDXS - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
10-Q 10-Q 2026 Q1 Q1 | May 07, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 07, 2026 | May 07, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 28, 2026 | June 17, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 14, 2026 | April 08, 2026 | 2026 | |
10-K 10-K 2025 FY FY | March 11, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | March 11, 2026 | March 11, 2026 | 2026 | |
8-K 8-K 2025 N/A | November 06, 2025 | November 05, 2025 | 2025 | |
10-Q 10-Q 2025 Q3 Q3 | November 06, 2025 | September 30, 2025 | 2025 | |
8-K 8-K 2025 N/A | August 13, 2025 | August 13, 2025 | 2025 | |
10-Q 10-Q 2025 Q2 Q2 | August 13, 2025 | June 30, 2025 | 2025 |
Continue your CDXS research with focused valuation guides.
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.