Codexis, Inc. (CDXS) Financial Statements
Industry: Industrial Organic Chemicals
In fiscal 2025, Codexis reported revenue of $70.4M, up 18.6% from $59.3M the year before. Net income was -$44.0M (a -62.5% net margin), or -$0.50 per diluted share. Gross margin was 86.7% and operating margin was -59.3%. Operating activities generated -$19.4M of cash, leaving -$23.8M of free cash flow. At fiscal year end, Codexis held $147.8M in total assets against $97.3M in total liabilities, including $50.8M of cash and equivalents.
Open the full interactive Codexis financials → Quarterly statements, key ratios, valuation history and price charts.
Codexis Key Stats
| Share Price | $1.32 |
|---|---|
| Market Cap | $120.2M |
| Revenue YoY Growth | +18.6% |
| 52-Week Range | $0.98 – $2.85 |
| Shares Outstanding | 91.1 million (basic, 2026 Q2) |
Codexis Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $69.1M | $104.8M | $138.6M | $70.1M | $59.3M | $70.4M |
| Cost of Goods Sold | $13.7M | $22.2M | $38.0M | $12.8M | $16.3M | $9.3M |
| Gross Profit | $55.3M | $82.5M | $100.6M | $57.3M | $43.1M | $61.0M |
| Operating Income | -$23.9M | -$22.7M | -$34.9M | -$68.1M | -$58.5M | -$41.7M |
| Pre-Tax Income | -$23.7M | -$21.1M | -$33.3M | -$76.2M | -$65.2M | -$43.9M |
| Income Tax | $339,000 | $189,000 | $276,000 | $69,000 | $34,000 | $47,000 |
| Net Income | -$24.0M | -$21.3M | -$33.6M | -$76.2M | -$65.3M | -$44.0M |
| Diluted EPS | -$0.40 | -$0.33 | -$0.51 | -$1.12 | -$0.89 | -$0.50 |
Codexis Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $8.6M | $38.9M | $15.2M | $14.9M |
| Net Income | -$19.6M | $9.6M | -$8.7M | -$12.0M |
| Diluted EPS | -$0.22 | $0.11 | -$0.10 | -$0.13 |
Codexis Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $149.1M | $116.8M | $114.0M | $65.1M | $19.3M | $50.8M |
| Current Assets | $184.4M | $161.9M | $162.9M | $93.5M | $98.8M | $96.8M |
| Total Assets | $221.6M | $246.4M | $250.4M | $136.6M | $149.0M | $147.8M |
| Current Liabilities | $25.0M | $33.4M | $49.1M | $35.8M | $23.6M | $25.3M |
| Total Long-Term Debt | — | — | — | — | $28.9M | $40.1M |
| Total Liabilities | $51.5M | $82.0M | $105.6M | $49.9M | $82.1M | $97.3M |
| Shareholders' Equity | $170.1M | $164.4M | $144.8M | $86.6M | $66.9M | $50.5M |
Codexis Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$16.5M | -$14.3M | $11.3M | -$52.6M | -$49.4M | -$19.4M |
| Cash From Investing | -$5.7M | -$21.4M | -$13.6M | -$4.9M | -$57.0M | $23.5M |
| Cash From Financing | $80.8M | $3.8M | -$575,000 | $8.2M | $60.5M | $27.9M |
| Free Cash Flow | -$20.2M | -$28.1M | $3.0M | -$57.1M | -$53.7M | -$23.8M |
Figures from Codexis' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Codexis financials page for every line item.
Codexis Company Profile
| Ticker | CDXS |
|---|---|
| Exchange | Nasdaq |
| Industry | Industrial Organic Chemicals |
| Headquarters | Redwood City, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001200375 |
Frequently Asked Questions
What was Codexis' revenue in fiscal 2025?
Codexis (CDXS) reported revenue of $70.4M for fiscal 2025.
What is Codexis' annual revenue history?
Codexis' annual revenue by fiscal year: 2020: $69.1M; 2021: $104.8M; 2022: $138.6M; 2023: $70.1M; 2024: $59.3M; 2025: $70.4M.
What was Codexis' net income in fiscal 2025?
Codexis reported net income of -$44.0M for fiscal 2025.
What was Codexis' earnings per share (EPS) in fiscal 2025?
Codexis' diluted EPS was -$0.50 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Codexis generate in fiscal 2025?
Codexis generated -$23.8M of free cash flow in fiscal 2025.
What was Codexis' revenue last quarter?
In its most recent reported quarter (2026 Q2), Codexis reported revenue of $14.9M.
How much debt does Codexis have?
Codexis reported $40.1M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Codexis are outstanding?
Codexis reported a weighted average of 91.1 million basic shares outstanding in 2026 Q2.
What is Codexis' market cap?
Based on its latest closing price, Codexis (CDXS) has a market capitalization of about $120.2M.
When does Codexis' fiscal year end?
Codexis' fiscal year end, as registered with the SEC, is December 31.
Where is Codexis headquartered?
Codexis lists its business address in Redwood City, California in its SEC filings.