CODEXIS, INC. CDXS
We are a leading provider of technology solutions to improve therapeutics manufacturing. We focus on impacting the manufacturing process by using our proprietary CodeEvolver® directed evolution technology platform to discover, develop, enhance, and commercialize novel, high-performance enzymes and other classes of proteins. Enzymes are naturally occurring biological molecules critical to almost all biochemical reactions. They can be precisely engineered and optimized for specific functions, and to have particular characteristics, such as an ability to survive environments in which natural enzymes cannot, or to perform (bio)chemical transformations that are different than those for which they naturally evolved. We employ our technology and expertise to enhance the properties and performance of enzymes to drive pivotal improvements in manufacturing of complex therapeutics across two key areas: our ECO synthesis manufacturing platform and our small molecule pharma biocatalysis business.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Americas
- Apac
- Emea
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Americas | $43.5M | $21.3M | $13.7M |
| Apac | $17.6M | $27.7M | $33.5M |
| Emea | $9.3M | $10.4M | $22.9M |
As the company reported it, from the “Revenue Recognition - Schedule of Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $70.4M | $59.3M | $70.1M | $138.6M | $104.8M | $69.1M | $68.5M | $60.6M | $50.0M | $48.8M |
| Cost of revenue | $9.3M | $16.3M | $12.8M | $38.0M | $22.2M | $13.7M | $15.6M | $12.6M | $14.3M | $9.8M |
| Gross profit | $61.0M | $43.1M | $57.3M | $100.6M | $82.5M | $55.3M | $52.8M | $48.0M | $35.7M | $39.1M |
| R&D | $52.3M | $46.3M | $58.9M | $80.1M | $55.9M | $44.2M | $33.9M | $30.0M | $29.7M | $22.2M |
| SG&A | $47.1M | $55.1M | $53.2M | $52.2M | $49.3M | $35.0M | $31.5M | $29.3M | $29.0M | $25.4M |
| Total operating expenses | $112.1M | $117.9M | $138.2M | $173.5M | $127.5M | $93.0M | $81.0M | $71.9M | $73.0M | $57.4M |
| Operating income | -$41.7M | -$58.5M | -$68.1M | -$34.9M | -$22.7M | -$23.9M | -$12.5M | -$11.3M | -$23.0M | -$8.6M |
| Pre-tax income | -$43.9M | -$65.2M | -$76.2M | -$33.3M | -$21.1M | -$23.7M | -$11.9M | -$10.9M | -$22.9M | -$8.6M |
| Income tax | $47.0K | $34.0K | $69.0K | $276.0K | $189.0K | $339.0K | $17.0K | $37.0K | $81.0K | $40.0K |
| Net income | -$44.0M | -$65.3M | -$76.2M | -$33.6M | -$21.3M | -$24.0M | -$11.9M | -$10.9M | -$23.0M | -$8.6M |
| EPS, basic | -0.50 | -0.89 | -1.12 | -0.51 | -0.33 | -0.40 | -0.21 | — | — | — |
| EPS, diluted | -0.50 | -0.89 | -1.12 | -0.51 | -0.33 | -0.40 | -0.21 | -0.21 | -0.50 | -0.21 |
| Shares, diluted (wtd. avg.) | 87.1M | 73.4M | 68.1M | 65.3M | 64.6M | 59.4M | 56.5M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $50.8M | $19.3M | $65.1M | $116.0M | $118.9M | $150.8M | $92.2M | $54.5M | $32.8M | $20.9M |
| Short-term investments | $27.4M | $54.2M | $0 | — | — | — | — | — | — | — |
| Receivables | — | — | $10.0M | $31.9M | $25.0M | $13.9M | $9.1M | $11.6M | $11.4M | $5.9M |
| Inventory | $1.8M | $1.8M | $2.7M | $2.0M | $1.2M | $964.0K | $371.0K | $589.0K | $1.0M | $825.0K |
| Total current assets | $96.8M | $98.8M | $93.5M | $162.9M | $161.9M | $184.4M | $114.2M | $68.2M | $45.0M | $27.2M |
| Property, plant and equipment | $13.0M | $14.2M | $15.5M | $22.6M | $21.3M | $9.7M | $6.3M | $4.8M | $2.8M | $2.2M |
| Goodwill | $2.5M | $2.5M | $2.5M | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M | $3.2M |
| Other intangibles | — | — | — | — | — | — | — | — | — | $0 |
| Total assets | $147.8M | $149.0M | $136.6M | $250.4M | $246.4M | $221.6M | $149.1M | $79.3M | $53.6M | $35.6M |
| Accounts payable | $1.6M | $2.8M | $5.9M | $3.2M | $3.0M | $3.0M | $2.6M | $3.0M | $3.5M | $4.2M |
| Total current liabilities | $25.3M | $23.6M | $35.8M | $49.1M | $33.4M | $25.0M | $15.4M | $18.1M | $25.0M | $12.4M |
| Long-term debt | $40.1M | $28.9M | $0 | — | — | — | — | — | $302.0K | $0 |
| Total liabilities | $97.3M | $82.1M | $49.9M | $105.6M | $82.0M | $51.5M | $43.6M | $23.0M | $29.1M | $16.5M |
| Retained earnings | -$606.8M | -$562.8M | -$497.5M | -$421.3M | -$387.7M | -$366.4M | -$342.4M | -$330.5M | -$315.1M | -$292.1M |
| Total equity | $50.5M | $66.9M | $86.6M | $144.8M | $164.4M | $170.1M | $105.5M | $56.3M | $24.5M | $19.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$19.4M | -$49.4M | -$52.6M | $11.3M | -$14.3M | -$16.5M | -$12.6M | -$14.1M | -$8.8M | -$1.9M |
| Depreciation and amortisation | $5.2M | $4.9M | $5.5M | $5.4M | $3.1M | $1.9M | $1.6M | $1.1M | $1.0M | $1.7M |
| Stock-based compensation | $9.6M | $13.1M | $10.0M | $14.5M | $11.6M | $7.7M | $6.9M | $7.9M | $7.1M | $5.7M |
| Capital expenditure | $4.5M | $4.3M | $4.4M | $8.3M | $13.8M | $3.7M | $3.7M | $2.8M | $985.0K | $888.0K |
| Investing cash flow | $23.5M | -$57.0M | -$4.9M | -$13.6M | -$21.4M | -$5.7M | -$3.7M | -$2.8M | -$983.0K | -$846.0K |
| Financing cash flow | $27.9M | $60.5M | $8.2M | -$575.0K | $3.8M | $80.8M | $54.0M | $38.6M | $21.6M | -$490.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-186994.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.8M | $50.0M | $60.6M | $68.5M | $69.1M | $104.8M | $138.6M | $70.1M | $59.3M | $70.4M |
| Gross profit | $39.1M | $35.7M | $48.0M | $52.8M | $55.3M | $82.5M | $100.6M | $57.3M | $43.1M | $61.0M |
| Net income | -$8.6M | -$23.0M | -$10.9M | -$11.9M | -$24.0M | -$21.3M | -$33.6M | -$76.2M | -$65.3M | -$44.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 2860
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