NASDAQ : CDXS
Codexis, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 1.19 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 130.31M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Codexis, Inc. (CDXS) reported revenue of 77.68M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 77.68M | 70.39M | 59.34M | 70.14M | 138.59M | 104.75M |
| Cost of Revenue | 58.83M | 61.65M | 62.55M | 71.69M | 118.13M | 78.13M |
| Gross Profit | 18.85M | 8.74M | -3.21M | -1.55M | 20.46M | 26.63M |
| Selling, General & Admin | 43.11M | 47.07M | 55.15M | 53.25M | 52.17M | 49.32M |
| Operating Expenses | 43.11M | 47.07M | 55.15M | 53.25M | 52.17M | 49.32M |
| Operating Income | -24.26M | -38.33M | -58.35M | -54.80M | -31.71M | -22.70M |
| Interest Expense | -5.18M | -4.51M | -3.49M | -59.00K | -84.00K | |
| Interest & Investment Income | 2.49M | 2.62M | 3.67M | 4.17M | 1.44M | 459.00K |
| Other Non Operating Income (Expenses) | 1.15M | |||||
| EBT Excluding Unusual Items | -26.94M | -40.22M | -58.17M | -50.69M | -30.36M | -21.09M |
| Merger & Restructuring Charges | -3.41M | -3.41M | -3.28M | -3.17M | ||
| Impairment of Goodwill | -800.00K | |||||
| Gain (Loss) on Sale of Investments | -300.00K | -300.00K | -6.90M | -12.21M | 208.00K | |
| Asset Writedown | -165.00K | -9.18M | ||||
| Pretax Income | -30.65M | -43.93M | -65.24M | -76.17M | -33.32M | -21.09M |
| Income Tax Expense | 72.00K | 47.00K | 34.00K | 69.00K | 276.00K | 189.00K |
| Net Income | -30.72M | -43.97M | -65.28M | -76.24M | -33.59M | -21.28M |
| Net Income to Common | -30.72M | -43.97M | -65.28M | -76.24M | -33.59M | -21.28M |
| Shares Outstanding (Basic) | 90.64M | 87.14M | 73.41M | 68.13M | 65.34M | 64.57M |
| Shares Outstanding (Diluted) | 90.64M | 87.14M | 73.41M | 68.13M | 65.34M | 64.57M |
| EPS (Basic) | -0.34 | -0.50 | -0.89 | -1.12 | -0.51 | -0.33 |
| EPS (Diluted) | -0.34 | -0.50 | -0.89 | -1.12 | -0.51 | -0.33 |
| Free Cash Flow | -12.18M | -23.85M | -53.72M | -57.06M | 2.98M | -28.09M |
| Free Cash Flow Per Share | -0.13 | -0.27 | -0.73 | -0.84 | 0.05 | -0.43 |
| Gross Margin | 24.27% | 12.42% | -5.40% | -2.21% | 14.76% | 25.42% |
| Operating Margin | -31.23% | -54.46% | -98.33% | -78.13% | -22.88% | -21.67% |
| Profit Margin | -39.55% | -62.48% | -109.99% | -108.69% | -24.24% | -20.31% |
| Free Cash Flow Margin | -15.68% | -33.88% | -90.51% | -81.34% | 2.15% | -26.82% |
| EBITDA | -19.05M | -33.08M | -53.41M | -49.28M | -26.31M | -19.48M |
| EBITDA Margin | -24.52% | -47.00% | -90.00% | -70.26% | -18.98% | -18.59% |
| D&A For EBITDA | 5.21M | 5.25M | 4.95M | 5.52M | 5.40M | 3.22M |
| EBIT | -24.26M | -38.33M | -58.35M | -54.80M | -31.71M | -22.70M |
| EBIT Margin | -31.23% | -54.46% | -98.33% | -78.13% | -22.88% | -21.67% |
| Revenue as Reported | 77.68M | 70.39M | 59.34M | 70.14M | 138.59M | 104.75M |
| Advertising Expenses | 100.00K | 300.00K | 300.00K | 300.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 27.17M | 50.79M | 19.26M | 65.12M | 113.98M | 116.80M |
| Short-Term Investments | 27.75M | 27.42M | 54.19M | |||
| Cash & Short-Term Investments | 54.92M | 78.21M | 73.46M | 65.12M | 113.98M | 116.80M |
| Receivables | 11.65M | 10.69M | 18.88M | 19.93M | 40.87M | 37.65M |
| Inventory | 1.60M | 1.82M | 1.80M | 2.69M | 2.03M | 1.16M |
| Prepaid Expenses | 2.90M | 5.63M | 4.13M | 4.60M | 4.80M | 5.70M |
| Restricted Cash | 422.00K | 478.00K | 503.00K | 519.00K | 521.00K | 579.00K |
| Other Current Assets | 427.00K | 618.00K | 687.00K | |||
| Total Current Assets | 71.92M | 96.82M | 98.77M | 93.47M | 162.89M | 161.89M |
| Property, Plant & Equipment | 40.52M | 43.52M | 42.90M | 28.62M | 61.88M | 65.46M |
| Long-Term Investments | 2.50M | 2.50M | 2.80M | 9.70M | 20.51M | 14.00M |
| Goodwill | 2.46M | 2.46M | 2.46M | 2.46M | 3.24M | 3.24M |
| Long-Term Accounts Receivable | 573.00K | 261.00K | 457.00K | 762.00K | ||
| Long-Term Deferred Charges | 19.00K | 56.00K | ||||
| Other Long-Term Assets | 2.08M | 2.23M | 1.62M | 1.55M | 1.85M | 1.74M |
| Total Assets | 120.06M | 147.80M | 149.01M | 136.56M | 250.39M | 246.38M |
| Accounts Payable | 2.61M | 1.55M | 2.84M | 5.95M | 3.25M | 3.00M |
| Accrued Expenses | 9.69M | 13.81M | 17.63M | 15.98M | 26.73M | 23.70M |
| Current Portion of Leases | 3.29M | 2.94M | 2.83M | 3.78M | 5.36M | 4.09M |
| Current Unearned Revenue | 862.00K | 7.01M | 350.00K | 10.12M | 13.73M | 2.59M |
| Total Current Liabilities | 23.51M | 25.32M | 23.65M | 35.83M | 49.07M | 33.37M |
| Long-Term Debt | 33.82M | 40.10M | 28.91M | |||
| Long-Term Leases | 28.42M | 30.16M | 28.16M | 12.24M | 38.28M | 43.56M |
| Long-Term Unearned Revenue | 360.00K | 100.00K | 640.00K | 16.88M | 3.75M | |
| Other Long-Term Liabilities | 1.35M | 1.33M | 1.27M | 1.23M | 1.37M | 1.31M |
| Total Liabilities | 87.10M | 97.27M | 82.08M | 49.95M | 105.60M | 81.99M |
| Common Stock | 9.00K | 9.00K | 8.00K | 7.00K | 6.00K | 6.00K |
| Additional Paid-In Capital | 660.45M | 657.29M | 629.67M | 584.14M | 566.08M | 552.08M |
| Retained Earnings | -627.49M | -606.78M | -562.81M | -497.53M | -421.29M | -387.70M |
| Comprehensive Income & Other | -13.00K | 8.00K | 52.00K | |||
| Shareholders' Equity | 32.96M | 50.53M | 66.93M | 86.61M | 144.80M | 164.39M |
| Total Liabilities & Equity | 120.06M | 147.80M | 149.01M | 136.56M | 250.39M | 246.38M |
| Total Debt | 72.59M | 73.21M | 59.90M | 16.02M | 43.64M | 47.65M |
| Net Cash (Debt) | -17.67M | 5.00M | 13.56M | 49.09M | 70.35M | 69.14M |
| Net Cash Per Share | -0.19 | 0.06 | 0.18 | 0.72 | 1.08 | 1.07 |
| Filing Date Shares Outstanding | 109.51M | 90.87M | 82.84M | 70.30M | 65.95M | 65.16M |
| Total Common Shares Outstanding | 91.39M | 90.48M | 81.85M | 69.91M | 65.81M | 65.11M |
| Working Capital | 48.41M | 71.50M | 75.12M | 57.64M | 113.83M | 128.52M |
| Book Value Per Share | 0.36 | 0.56 | 0.82 | 1.24 | 2.20 | 2.52 |
| Tangible Book Value | 30.50M | 48.07M | 64.46M | 84.15M | 141.56M | 161.15M |
| Tangible Book Value Per Share | 0.33 | 0.53 | 0.79 | 1.20 | 2.15 | 2.48 |
| Machinery | 42.21M | 42.63M | 39.53M | 41.25M | 44.06M | 37.88M |
| Construction In Progress | 1.06M | 405.00K | 3.44M | 1.64M | 1.74M | 3.23M |
| Leasehold Improvements | 15.51M | 15.23M | 12.16M | 11.91M | 16.63M | 16.12M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -30.72M | -43.97M | -65.28M | -76.24M | -33.59M | -21.28M |
| Depreciation & Amortization | 8.25M | 8.29M | 4.95M | 5.52M | 5.40M | 5.95M |
| Asset Writedown & Restructuring Costs | 165.00K | 9.98M | ||||
| Loss (Gain) From Sale of Investments | -810.00K | -934.00K | 5.52M | 12.21M | -208.00K | -1.27M |
| Stock-Based Compensation | 7.72M | 9.62M | 13.09M | 9.97M | 14.53M | 11.59M |
| Provision & Write-off of Bad Debts | -113.00K | 97.00K | -65.00K | 4.00K | 342.00K | |
| Other Operating Activities | 1.96M | 1.31M | 4.07M | 4.20M | 3.58M | -1.97M |
| Change in Accounts Receivable | 4.59M | 8.51M | 1.25M | 20.25M | -3.23M | -9.16M |
| Change in Inventory | 342.00K | -19.00K | 886.00K | -656.00K | -869.00K | -196.00K |
| Change in Accounts Payable | 1.16M | -1.29M | -2.57M | 2.29M | 207.00K | 268.00K |
| Change in Unearned Revenue | 662.00K | 6.92M | -10.31M | -19.85M | 24.52M | 1.30M |
| Change in Other Net Operating Assets | -3.56M | -7.70M | -1.28M | -20.25M | 941.00K | 160.00K |
| Operating Cash Flow | -10.40M | -19.38M | -49.41M | -52.64M | 11.28M | -14.27M |
| Capital Expenditures | -1.78M | -4.47M | -4.30M | -4.42M | -8.31M | -13.83M |
| Sale of Property, Plant & Equipment | 16.00K | 5.00K | 87.00K | 751.00K | 29.00K | 36.00K |
| Investment in Securities | 12.92M | 27.97M | -52.76M | -1.19M | -5.30M | -7.63M |
| Investing Cash Flow | 11.16M | 23.50M | -56.98M | -4.86M | -13.58M | -21.42M |
| Long-Term Debt Issued | 9.90M | 29.52M | ||||
| Net Debt Issued (Repaid) | 9.90M | 29.52M | ||||
| Issuance of Common Stock | 335.00K | 18.87M | 33.35M | 9.07M | 955.00K | 5.18M |
| Repurchase of Common Stock | -404.00K | -1.49M | -1.21M | |||
| Other Financing Activities | -214.00K | -839.00K | -2.35M | -503.00K | -42.00K | -207.00K |
| Financing Cash Flow | 121.00K | 27.93M | 60.52M | 8.17M | -575.00K | 3.77M |
| Net Cash Flow | 881.00K | 32.05M | -45.87M | -49.33M | -2.87M | -31.92M |
| Free Cash Flow | -12.18M | -23.85M | -53.72M | -57.06M | 2.98M | -28.09M |
| Free Cash Flow Margin | -15.68% | -33.88% | -90.51% | -81.34% | 2.15% | -26.82% |
| Free Cash Flow Per Share | -0.13 | -0.27 | -0.73 | -0.84 | 0.05 | -0.43 |
| Levered Free Cash Flow | 2.13M | -5.07M | -33.12M | -14.31M | 2.36M | -14.33M |
| Unlevered Free Cash Flow | 5.37M | -2.25M | -30.94M | -14.28M | 2.41M | -14.33M |
| Cash Interest Paid | 3.31M | 3.15M | 2.57M | 44.00K | 34.00K | 14.00K |
| Cash Income Tax Paid | 36.00K | 17.00K | 194.00K | 100.00K | 102.00K | |
| Change in Working Capital | 3.20M | 6.42M | -12.02M | -18.22M | 21.57M | -7.62M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 114.43M | 147.23M | 388.17M | 212.98M | 306.10M | 2.03B |
| Enterprise Value | 132.10M | 157.15M | 339.76M | 158.38M | 242.30M | 1.93B |
| Last Close Price | 1.04 | 1.63 | 4.77 | 3.05 | 4.66 | 31.27 |
| Forward PE | 151.20 | 151.20 | 151.20 | 151.20 | 151.20 | |
| PS Ratio | 1.47 | 2.09 | 6.54 | 3.04 | 2.21 | 19.37 |
| PB Ratio | 2.90 | 2.91 | 5.80 | 2.46 | 2.11 | 12.34 |
| P/TBV Ratio | 3.75 | 3.06 | 6.02 | 2.53 | 2.16 | 12.59 |
| P/FCF Ratio | 102.82 | |||||
| P/OCF Ratio | 27.13 | |||||
| PEG Ratio | 35.39 | 35.39 | 35.39 | 35.39 | 35.39 | |
| EV/Sales Ratio | 1.70 | 2.23 | 5.72 | 2.26 | 1.75 | 18.45 |
| EV/FCF Ratio | 81.39 | |||||
| Debt / Equity Ratio | 2.20 | 1.45 | 0.90 | 0.18 | 0.30 | 0.29 |
| Debt / FCF Ratio | 14.66 | |||||
| Net Debt / Equity Ratio | 0.54 | -0.10 | -0.20 | -0.57 | -0.49 | -0.42 |
| Net Debt / EBITDA Ratio | -0.93 | 0.15 | 0.25 | 1.00 | 2.67 | 3.55 |
| Net Debt / FCF Ratio | -1.45 | 0.21 | 0.25 | 0.86 | -23.63 | 2.46 |
| Asset Turnover | 0.60 | 0.47 | 0.42 | 0.36 | 0.56 | 0.45 |
| Inventory Turnover | 33.17 | 34.10 | 27.90 | 30.42 | 74.09 | 73.57 |
| Quick Ratio | 2.83 | 3.51 | 3.90 | 2.37 | 3.16 | 4.63 |
| Current Ratio | 3.06 | 3.82 | 4.18 | 2.61 | 3.32 | 4.85 |
| Return on Equity (ROE) | -69.36% | -74.88% | -85.03% | -65.89% | -21.73% | -12.72% |
| Return on Assets (ROA) | -11.74% | -16.14% | -25.54% | -17.70% | -7.98% | -6.06% |
| Return on Capital Employed (ROCE) | -25.10% | -31.30% | -46.50% | -54.40% | -15.80% | -10.70% |
| Earnings Yield | -32.43% | -29.87% | -16.82% | -35.80% | -10.97% | -1.05% |
| FCF Yield | -10.64% | -16.20% | -13.84% | -26.79% | 0.97% | -1.39% |
| Buyback Yield / Dilution | -12.88% | -18.71% | -7.75% | -4.26% | -1.20% | -8.77% |