Codexis
Builds enzyme platforms for RNA manufacturing and pharma biocatalysis.
Something off on this page? Send us feedback.
Profile
Develops enzyme solutions through CodeEvolver, with work centered on ECO Synthesis for RNA medicines, small-molecule pharma biocatalysis, and molecular-biology enzymes. Revenue comes from enzyme products plus R&D, licensing, technology-transfer, and collaboration work, with major-customer concentration shaping results.
Uses CodeEvolver to discover, improve, and commercialize high-performance enzymes and other proteins. Current applications center on ECO Synthesis for RNAi and oligonucleotide manufacturing, small-molecule pharma biocatalysis, and molecular-biology or diagnostic enzyme solutions.
Based in Redwood City, the business reports as one segment after combining its former performance-enzyme and novel-biotherapeutics operations. Commercial activity mixes enzyme product sales with R&D, licensing, technology-transfer, and collaborative development work.
Execution depends on turning directed-evolution work into manufacturing tools that pharmaceutical customers can adopt for efficiency, yield, purity, energy use, and waste reduction. The business is partnership-heavy, and annual results can be shaped by large collaboration or technology-transfer customers, including Merck.
Company facts
Categories
Key statistics
Year to date −1.9% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Mar 12, 2026 | Stifel Nicolaus | Target | $5 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$0.14 | −$0.13 | +8.2% | $13.8M | $14.9M | +7.9% | +8.11% |
| May 7, 2026Q1 FY26 | −$0.11 | −$0.10 | +9.1% | $14.5M | $15.2M | +5.0% | +10.47% |
| Mar 11, 2026Q4 FY25 | $0.01 | $0.11 | +1,000.0% | $35.8M | $38.9M | +8.6% | +34.65% |
| Nov 6, 2025Q3 FY25 | −$0.15 | −$0.22 | −46.7% | $35.8M | $8.6M | −76.0% | −17.16% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $7.5M | $15.3M | $8.6M | $38.9M | $15.2M | $14.9M | |
| Gross profit | $4.8M | $11.9M | $6.1M | $35.6M | $11.9M | $11.4M | |
| Operating income | −$20.5M | −$12.9M | −$18.9M | $14.0M | −$8.0M | −$11.2M | |
| Net income | −$20.7M | −$13.3M | −$19.6M | $9.6M | −$8.7M | −$12.0M | |
| Diluted EPS | −$0.25 | −$0.16 | −$0.22 | $0.11 | −$0.10 | −$0.13 | |
| Gross margin | 63.8% | 77.8% | 71.3% | 91.4% | 78.3% | 76.5% | |
| Operating margin | -271.6% | -83.9% | -220.3% | 35.9% | -52.7% | -75.3% |
Fiscal years (4-quarter sums)FY21 $104.8M · FY22 $138.6M · FY23 $70.1M · FY24 $59.3M · FY25 $70.4M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $54.9M · Total debt $72.6M · Total assets $120.1M · Shareholders' equity $33.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 107.56M · Float 73.44M · 68.3% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Abrdn PLC | 8.68M | 8.07% | 13F | Apr 29, 2026 |
| Aberdeen Group plc | 7.97M | 8.82% | 13G | Jan 15, 2026 |
| Telemark Asset Management, LLC | 7.85M | 7.30% | 13G | Jul 29, 2026 |
| BlackRock, Inc. | 7.03M | 6.53% | 13F | May 13, 2026 |
| Opaleye Management Inc. | 6.79M | 7.47% | 13G | May 5, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Raymond de Vre | director | −2,605 | $2.37 |
| Feb 24, 2026 | Stefan Lutz | officer: Chief Scientific Officer | −5,862 | $1.13 |
| Feb 6, 2026 | Alison Moore | director, officer: President and CEO | −3,826 | $1.31 |
| Feb 6, 2026 | Georgia Erbez | officer: See Remarks | −3,826 | $1.31 |
| Feb 6, 2026 | Stefan Lutz | officer: Chief Scientific Officer | −2,492 | $1.31 |
Peers
- Agilent Technologies
Oligo CDMO capacity against enzymatic RNA manufacturing
- Danaher
IDT and Aldevron overlap in oligo and genetic-medicine inputs
- Thermo Fisher Scientific
Life-science tools and Patheon CDMO substitute across workflows
- Ginkgo Bioworks
Cell-programming platform with enzyme and protein-engineering tools
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Codexis | $1.61 | +1.90% | $171.0M | — | — | 2.2 | −2.7% |
| Agilent Technologies | $153.84 | +0.02% | $43.45B | 30.3 | 23.8 | 5.9 | +8.1% |
| Danaher | $215.50 | −0.25% | $151.89B | 38.4 | 24.3 | 6.0 | +5.5% |
| Thermo Fisher Scientific | $620.01 | −0.32% | $231.22B | 33.5 | 23.7 | 5.0 | +10.5% |
| Ginkgo Bioworks | $7.03 | +0.86% | $454.7M | — | — | 4.1 | −59.4% |
| Median | 33.5 | 23.8 | 5.4 | +6.8% |