A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
CODEXIS, INC.
CDXS
$130M
Mkt Cap
$1.48
-25.63%
CODEXIS, INC. (CDXS) has a 5-year average return on invested capital (ROIC) of -43.8%. This is below average and may indicate limited pricing power.
CODEXIS, INC. (CDXS) has a market capitalization of $135M. It is classified as a small-cap stock.
CODEXIS, INC. (CDXS) does not currently pay a regular dividend.
CODEXIS, INC. (CDXS) operates in the Industrial Organic Chemicals industry, within the Materials sector.
CODEXIS, INC. (CDXS) reported annual revenue of $70 million in its most recent fiscal year, based on SEC EDGAR filings.
CODEXIS, INC. (CDXS) has a net profit margin of -62.5%. The company is currently unprofitable.
CODEXIS, INC. (CDXS) generated $-24 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
ITEM 1. BUSINESS COMPANY OVERVIEW 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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 78M | 70M | 59M | 70M | 139M | 105M |
| Net Income | -32M | -44M | -65M | -76M | -34M | -21M |
| EPS | $-0.35 | $-0.50 | $-0.89 | $-1.12 | $-0.51 | $-0.33 |
| Free Cash Flow | -22M | -24M | -54M | -57M | 3.0M | -28M |
| ROIC | -124.6% | -47.2% | -71.6% | -65.9% | -21.7% | -12.7% |
| Gross Margin | - | 86.7% | 72.6% | 70.7% | 72.6% | 78.8% |
| Debt/Equity | 0.94 | 1.45 | 0.89 | 0.19 | 0.36 | 0.50 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -29M | -42M | -59M | -68M | -35M | -23M |
| Operating Margin | -37.5% | -59.3% | -98.6% | -97.0% | -25.2% | -21.7% |
| ROE | -74.0% | -74.9% | -85.0% | -65.9% | -21.7% | -12.7% |
| Shares Outstanding | 91M | 88M | 73M | 68M | 66M | 64M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 35M | 42M | 49M | 50M | 61M | 68M | 69M | 105M | 139M | 70M | 59M | 70M | 78M |
| Gross Margin | 72.5% | 84.2% | 80.0% | 71.4% | 79.2% | 77.2% | 80.1% | 78.8% | 72.6% | 70.7% | 72.6% | 86.7% | N/A |
| R&D | 23M | 21M | 22M | 30M | 30M | 34M | 44M | 56M | 80M | 59M | 46M | 52M | 51M |
| SG&A | 22M | 22M | 25M | 29M | 29M | 32M | 35M | 49M | 52M | 53M | 55M | 47M | 44M |
| EBIT | -19M | -7.8M | -8.6M | -23M | -11M | -13M | -24M | -23M | -35M | -68M | -59M | -42M | -29M |
| Op. Margin | -54.1% | -18.6% | -17.5% | -45.9% | -18.6% | -18.3% | -34.6% | -21.7% | -25.2% | -97.0% | -98.6% | -59.3% | -37.5% |
| Net Income | -19M | -7.6M | -8.6M | -23M | -11M | -12M | -24M | -21M | -34M | -76M | -65M | -44M | -32M |
| Net Margin | -54.0% | -18.1% | -17.5% | -46.0% | -18.0% | -17.4% | -34.8% | -20.3% | -24.2% | -108.7% | -110.0% | -62.5% | -41.0% |
| Non-Recurring | -24K | -32K | 42K | -9K | -8K | 0 | 0 | 0 | 3.2M | 4.1M | 0 | 3.4M | 3.4M |
| Returns on Capital | |||||||||||||
| ROIC | -56.3% | -30.8% | -40.8% | -104.7% | -26.8% | -14.8% | -17.4% | -12.7% | -21.7% | -65.9% | -71.6% | -47.2% | -124.6% |
| ROE | -56.3% | -30.8% | -40.8% | -105.4% | -26.9% | -14.8% | -17.4% | -12.7% | -21.7% | -65.9% | -85.0% | -74.9% | -74.0% |
| ROA | -35.7% | -16.3% | -21.3% | -51.5% | -16.4% | -10.5% | -13.0% | -9.1% | -13.5% | -39.4% | -45.7% | -29.6% | -24.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 321K | -433K | -1.9M | -8.8M | -14M | -13M | -16M | -14M | 11M | -53M | -49M | -19M | -19M |
| Free Cash Flow | 19K | -1.6M | -2.7M | -9.7M | -17M | -16M | -20M | -28M | 3.0M | -57M | -54M | -24M | -22M |
| Owner Earnings | -7.7M | -8.9M | -12M | -17M | -23M | -21M | -26M | -29M | -8.6M | -68M | -67M | -34M | -33M |
| CapEx | 302K | 1.2M | 888K | 985K | 2.8M | 3.7M | 3.7M | 14M | 8.3M | 4.4M | 4.3M | 4.5M | 3.4M |
| Maint. CapEx | 3.4M | 3.4M | 4.5M | 1.0M | 1.1M | 1.6M | 1.9M | 3.1M | 5.4M | 5.5M | 4.9M | 5.2M | 5.3M |
| Growth CapEx | 0 | 0 | 0 | 0 | 1.6M | 2.2M | 1.8M | 11M | 2.9M | 0 | 0 | 0 | 0 |
| D&A | 3.4M | 3.4M | 4.5M | 1.0M | 1.1M | 1.6M | 1.9M | 3.1M | 5.4M | 5.5M | 4.9M | 5.2M | 5.3M |
| CapEx/OCF | 94.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 73.6% | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 4.6M | 5.1M | 5.7M | 7.1M | 7.9M | 6.9M | 7.7M | 12M | 15M | 10.0M | 13M | 9.6M | 8.7M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 642K | 3K | 3K |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | -32M | -38M | N/A | -90M | -125M | N/A | -62M | -49M | -14M | -5.0M | -25M |
| Cash & Equiv. | 26M | 23M | 19M | 31M | 53M | 90M | 149M | 117M | 114M | 65M | 19M | 51M | 65M |
| Long-Term Debt | N/A | N/A | 0 | 302K | N/A | 0 | N/A | N/A | 0 | 0 | 29M | 40M | 40M |
| Debt/Equity | 0.83 | 0.95 | 0.00 | 0.01 | 0.41 | 0.00 | 0.15 | 0.50 | 0.36 | 0.19 | 0.89 | 1.45 | 0.94 |
| Interest Coverage | -406.6 | -323.8 | -244.7 | -741.0 | -305.3 | -1254.9 | -23920.0 | N/A | N/A | -1620.7 | -1393.3 | -993.8 | -993.8 |
| Equity | 26M | 23M | 19M | 25M | 56M | 106M | 170M | 164M | 145M | 87M | 67M | 51M | 43M |
| Total Assets | 48M | 45M | 36M | 54M | 79M | 149M | 222M | 246M | 250M | 137M | 149M | 148M | 129M |
| Total Liabilities | 22M | 22M | 17M | 29M | 23M | 44M | 52M | 82M | 106M | 50M | 82M | 97M | 86M |
| Intangibles | 6.2M | 2.8M | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -276M | -284M | -292M | -315M | -330M | -342M | -366M | -388M | -421M | -498M | -563M | -607M | -615M |
| Working Capital | 19M | 18M | 15M | 20M | 50M | 99M | 159M | 129M | 114M | 58M | 75M | 71M | 65M |
| Current Assets | 33M | 33M | 27M | 45M | 68M | 114M | 184M | 162M | 163M | 93M | 99M | 97M | 80M |
| Current Liabilities | 14M | 15M | 12M | 25M | 18M | 15M | 25M | 33M | 49M | 36M | 24M | 25M | 15M |
| Per Share Data | |||||||||||||
| EPS | -0.50 | -0.19 | -0.21 | -0.50 | -0.21 | -0.21 | -0.40 | -0.33 | -0.51 | -1.12 | -0.89 | -0.50 | -0.35 |
| Owner EPS | -0.20 | -0.22 | -0.30 | -0.37 | -0.45 | -0.37 | -0.44 | -0.45 | -0.13 | -1.00 | -0.92 | -0.39 | -0.36 |
| Book Value | 0.69 | 0.57 | 0.47 | 0.53 | 1.09 | 1.86 | 2.83 | 2.55 | 2.20 | 1.27 | 0.91 | 0.57 | 0.48 |
| Cash Flow/Share | 0.01 | -0.01 | -0.05 | -0.19 | -0.27 | -0.22 | -0.27 | -0.22 | 0.17 | -0.77 | -0.67 | -0.22 | -0.29 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 38.1M | 39.9M | 40.8M | 46.0M | 51.8M | 56.8M | 60.0M | 64.5M | 65.9M | 68.1M | 73.3M | 87.9M | 90.9M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -4.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 94.5 | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 3.7 | 7.0 | 10.0 | 15.7 | 15.2 | 9.2 | 7.9 | 12.6 | 1.9 | 2.5 | 5.5 | N/A | 3.1 |
| Price/Sales | 2.1 | 3.6 | 3.4 | 5.0 | 12.0 | 14.3 | 11.7 | 15.6 | 5.7 | 3.2 | 4.2 | N/A | 1.7 |
| FCF Yield | 0.0% | -1.0% | -1.4% | -2.5% | -2.0% | -1.7% | -1.5% | -1.4% | 1.1% | -26.8% | -14.7% | N/A | -16.4% |
| Market Cap | 97M | 160M | 192M | 386M | 857M | 970M | 1.3B | 2.1B | 281M | 213M | 366M | 0 | 135M |
| Avg. Price | 1.98 | 3.82 | 4.10 | 5.39 | 13.98 | 17.28 | 13.47 | 25.32 | 12.01 | 3.25 | 3.38 | 0.00 | 1.48 |
| Year-End Price | 2.55 | 4.00 | 4.70 | 8.40 | 16.54 | 17.06 | 22.48 | 32.01 | 4.27 | 3.13 | 4.99 | 0.00 | 1.48 |
CODEXIS, INC. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 76.3%.
CODEXIS, INC. (CDXS) has a debt-to-equity ratio of 1.45. This indicates moderate leverage.
CODEXIS, INC. (CDXS) reported earnings per share (EPS) of $-0.50 in its most recent fiscal year.
CODEXIS, INC. (CDXS) has a return on equity (ROE) of -74.9%. A negative ROE may indicate losses or negative equity.
CODEXIS, INC. (CDXS) has a 5-year average gross margin of 76.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for CODEXIS, INC. (CDXS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CODEXIS, INC. (CDXS) has a book value per share of $0.57, based on its most recent annual SEC filing.