CDXS on Nasdaq

Codexis

Logo: Codexis, Public domain, via Wikimedia Commons4

American protein engineering company

Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 19, 2026.

Overview

2002Founded1

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  • TickerCDXS on Nasdaq1
  • Industryprotein engineering1
  • HeadquartersRedwood City1
  • Websitewww.codexis.com
  • Incorporated inDE5
  • Business address200 Penobscot Drive, Redwood City, Ca 940635
  • Filer categoryNon-accelerated filer, Smaller reporting company5

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Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-59.3%Operating margin7
-62.5%Net margin7
18.6%Revenue growth, 20257
-87.0%Return on equity7
0.79×Debt to equity7
-$23.8MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Research And Development Revenue brought in 63% of the revenue Codexis broke down this way in fiscal 2025.

  1. Research And Development Revenue$44.4M763%up 97% from 2024
  2. Product$26.0M737%down 29% from 2024
Products and services by year
Products and services202320242025
Research And Development Revenue$27.2M$22.6M$44.4M
Product$42.9M$36.8M$26.0M

Regions

Americas brought in 32% of the revenue Codexis broke down this way in fiscal 2025.

  1. Americas$43.5M732%up 105% from 2024
  2. United States$43.5M732%up 104% from 2024
  3. Asia Pacific$17.6M713%down 37% from 2024
  4. [Canada]$9.3M77%down 5% from 2024
  5. EMEA$9.3M77%down 10% from 2024
  6. India$5.7M74%down 22% from 2024
  7. Switzerland$4.2M73%up 24% from 2024
  8. Ireland$700.0K71%down 61% from 2024
  9. Singapore$400.0K70%down 94% from 2024
Regions by year
Regions202320242025
Americas$13.7M$21.3M$43.5M
United States$13.7M$21.3M$43.5M
Asia Pacific$33.5M$27.7M$17.6M
[Canada]$20.3M$9.8M$9.3M
EMEA$22.9M$10.4M$9.3M
India$5.7M$7.3M$5.7M
Switzerland$11.1M$3.4M$4.2M
Ireland$500.0K$1.8M$700.0K
Singapore$2.4M$6.2M$400.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue9¢$9.3M
  • Research and development48¢$52.3M
  • Selling, general and admin43¢$47.1M
  • Income tax0¢$47.0K

Out of $70.4M in revenue.7 The company lost money this year.

Financial statements

Revenue8910117$70.4M in 2025+3% since 2019
0$50.0M$100.0M$150.0M2019: $68.5M$68.5M20192020: $69.1M$69.1M2020+1%2021: $104.8M$104.8M2021+52%2022: $138.6M$138.6M2022+32%2023: $70.1M$70.1M2023−49%2024: $59.3M$59.3M2024−15%2025: $70.4M$70.4M2025+19%
Operating income8910117-$41.7M in 2025+233% since 2019
-$80.0M-$60.0M-$40.0M-$20.0M02019: -$12.5M-$12.5M20192020: -$23.9M-$23.9M2020+91%2021: -$22.7M-$22.7M2021−5%2022: -$34.9M-$34.9M2022+54%2023: -$68.1M-$68.1M2023+95%2024: -$58.5M-$58.5M2024−14%2025: -$41.7M-$41.7M2025−29%
Net income8910117-$44.0M in 2025+268% since 2019
-$80.0M-$60.0M-$40.0M-$20.0M02019: -$11.9M-$11.9M20192020: -$24.0M-$24.0M2020+101%2021: -$21.3M-$21.3M2021−11%2022: -$33.6M-$33.6M2022+58%2023: -$76.2M-$76.2M2023+127%2024: -$65.3M-$65.3M2024−14%2025: -$44.0M-$44.0M2025−33%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Total revenues$70.4M$59.3M$70.1M
Cost of product revenue$9.3M$16.3M$12.8M
Research and development$52.3M$46.3M$58.9M
Selling, general and administrative$47.1M$55.1M$53.2M
Restructuring charges$3.4M$0$3.3M
Asset impairment and other charges$0$165.0K$10.0M
Total costs and operating expenses$112.1M$117.9M$138.2M
Loss from operations-$41.7M-$58.5M-$68.1M
Interest income$2.6M$3.7M$4.2M
Interest and other expense, net-$4.8M-$10.4M-$12.3M
Loss before income taxes-$43.9M-$65.2M-$76.2M
Provision for income taxes$47.0K$34.0K$69.0K
Net loss-$44.0M-$65.3M-$76.2M
Net loss per share, basic (in dollars per share)-$0.50-$0.89-$1.12
Net loss per share, diluted (in dollars per share)-$0.50-$0.89-$1.12
Weighted average common stock shares used in computing net loss per share, basic (in shares)87.1M shares73.4M shares68.1M shares
Weighted average common stock shares used in computing net loss per share, diluted (in shares)87.1M shares73.4M shares68.1M shares

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The story

Codexis is based in Redwood City, CA and was incorporated in 2002. It went public in April 2010 on NASDAQ, and in October, acquired Maxygen's MolecularBreeding technology portfolio.

Pharmaceutical

Codexis won the Presidential Green Chemistry Challenge Award from the U.S. Environmental Protection Agency (EPA) in 2006 for its work on a building block of Lipitor. It then won a second time in 2010 for its work with Merck & Co. on the active ingredient in Januvia.

Nutrition

In 2017, the company entered a partnership with Tate & Lyle to provide research and development for the production of new ingredients. That same year, Codexis announced a collaboration with Nestle to provide enzymes for metabolic disorders.

Biotherapeutics

In 2017, Codexis developed a recombinant phenylalanine ammonia-lyase (PAL) enzyme, to act as a substitute phenylalanine hydroxylase (PAH) enzyme for people who suffer from phenylketonuria. The enzyme was in-licensed by Nestle Health Sciences.

In 2020, Takeda Pharmaceutical announced a collaboration with Codexis to research and create gene therapies for rare diseases, including lysosomal storage disorders.

Life science

In June 2020, they announced a partnership with Molecular Assemblies to engineer enzymes for DNA synthesis.

From Wikipedia’s article on Codexis, shared under CC BY-SA 4.0.6

Leadership

Who has led Codexis, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Peter M. Strumph2012
  2. John J. Nicols2012–2022
  3. Alison Moore2025–now

President

  1. Joseph J. Sarret2010–2011
  2. Peter M. Strumph2012
  3. John J. Nicols2012–2022
  4. Alison Moore2025–now

Chief financial officer

  1. Robert J. Lawson2010–2011
  2. Brian Paul Dowd2012
  3. Gordon Sangster2014–2019
  4. Dean Ross Taylor Jr.2019–2022
  5. Sriram Ryali2023–2024
  6. Georgia Erbez2024–now

Chief operating officer

  1. Kevin Norrett2022–now
20052010201520202025
Board members and other officers (38)

Products and brands

Codexis uses directed evolution to develop its enzymes. Using this method, scientists genetically engineer genes, then screen the enzymes produced to see if it creates the properties needed for a specific reaction. Their protein engineering platform, called CodeEvolver, uses machine learning and high-throughput experimentation to learn protein sequence changes and their impacts on protein function.

From Wikipedia’s article on Codexis, shared under CC BY-SA 4.0.6

Former names

  • CODEXIS INCOct 11, 2002 to Jun 13, 20195

Timeline

  1. Nov 17, 2025New chief executive Alison Moore becomes CEO15
  2. Jun 14, 2012New chief executive John J. Nicols becomes CEO17
  3. Feb 24, 2012New chief executive Peter M. Strumph becomes CEO16
  4. Apr 22, 2010Went public Listed on NASDAQ1
  5. 2002Founded Founded1

Filings

304 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 55 major events, 148 insider forms, 37 large holders, 44 other. The latest 20:

  1. Oct 14, 20264 EDGAR
  2. Oct 14, 20264 EDGAR
  3. Oct 13, 2026144 EDGAR
  4. Oct 13, 2026144 EDGAR
  5. Aug 13, 2026SCHEDULE 13G/A EDGAR
  6. Aug 11, 202610-Q EDGAR
  7. Aug 11, 20268-K EDGAR
  8. Jul 29, 2026SCHEDULE 13G EDGAR
  9. Jul 27, 20268-K EDGAR
  10. Jul 24, 2026424B5 EDGAR
  11. Jul 23, 2026424B5 EDGAR
  12. Jul 23, 20268-K EDGAR
  13. Jul 20, 2026SCHEDULE 13G/A EDGAR
  14. Jun 22, 20268-K EDGAR
  15. Jun 18, 20264 EDGAR
  16. Jun 18, 20264 EDGAR
  17. Jun 18, 20264 EDGAR
  18. Jun 18, 20264 EDGAR
  19. Jun 18, 20264 EDGAR
  20. Jun 18, 20264 EDGAR

The 304 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

106 open-market trades by officers, directors and large owners since October 2021: 46 buys and 60 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 11, 2026De Vre RaymondDirectorSale2,605$2.37$6.2KForm 4
Feb 24, 2026Lutz StefanChief Scientific OfficerSale5,862$1.13$6.6KForm 4
Feb 6, 2026Lutz StefanChief Scientific OfficerSale2,492$1.31$3.3KForm 4
Feb 6, 2026Erbez GeorgiaSee RemarksSale3,826$1.31$5.0KForm 4
Feb 6, 2026MOORE ALISONPresident and CEOSale3,826$1.31$5.0KForm 4
Jan 7, 2026Lutz StefanChief Scientific OfficerSale4,685$1.70$8.0KForm 4
Dec 1, 2025Opaleye Management Inc.10% ownerSale253,533$1.67$423.4KForm 4
Dec 1, 2025Opaleye Management Inc.10% ownerSale253,533$1.67$423.4KForm 4
Nov 28, 2025Opaleye Management Inc.10% ownerSale107,490$1.75$188.1KForm 4
Nov 28, 2025Opaleye Management Inc.10% ownerSale107,490$1.75$188.1KForm 4
Nov 26, 2025Opaleye Management Inc.10% ownerSale153,318$1.74$266.8KForm 4
Nov 26, 2025Opaleye Management Inc.10% ownerSale153,318$1.74$266.8KForm 4
Nov 21, 2025WOLF DENNIS PDirectorSale8,952$1.56$14.0KForm 4
Nov 12, 2025Opaleye Management Inc.10% ownerSale1,082,459$1.94$2.1MForm 4
Nov 11, 2025De Vre RaymondDirectorSale1,413$1.74$2.5KForm 4
Nov 11, 2025Opaleye Management Inc.10% ownerSale548,211$1.80$986.8KForm 4
Nov 11, 2025Opaleye Management Inc.10% ownerSale548,211$1.80$986.8KForm 4
Nov 10, 2025Opaleye Management Inc.10% ownerSale208,318$1.73$360.4KForm 4
Nov 10, 2025Opaleye Management Inc.10% ownerSale208,318$1.73$360.4KForm 4
Nov 7, 2025Opaleye Management Inc.10% ownerSale306,682$1.70$521.4KForm 4

All 106 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.7,284,352$16.5M0.0%+255,579
Nantahala Capital Management, LLC7,247,226$16.4M0.5%+3,123,613
Opaleye Management Inc.6,785,000$15.3M1.4%No change
Aberdeen Group plc6,769,954$15.3M0.0%−1,910,414
Millennium Management LLC5,549,139$12.5M0.0%+1,551,009
Telemark Asset Management, LLC3,846,411$8.7M0.6%No change
Ameriprise Financial Inc3,809,440$8.6M0.0%+408,944
Vanguard Capital Management LLC3,617,109$8.2M0.0%−51,398
Assenagon Asset Management S.A.2,556,412$5.8M0.0%+1,805,242
Geode Capital Management, LLC2,162,393$4.9M0.0%+277,040
State Street Corp1,756,814$4.0M0.0%+89,860
D. E. Shaw & Co., Inc.1,342,014$3.0M0.0%+362,167
Jacobs Levy Equity Management, Inc1,330,205$3.0M0.0%+242,178
Vanguard Portfolio Management LLC1,307,171$3.0M0.0%+427,832
Aqr Capital Management LLC845,431$1.9M0.0%+236,830
Two Sigma Investments, LP696,599$1.6M0.0%+454,644
Northern Trust Corp682,940$1.5M0.0%+25,801
Franklin Resources Inc678,640$1.5M0.0%−9,570
Morgan Stanley649,170$1.5M0.0%+176,329
Vanguard Fiduciary Trust Co581,058$1.3M0.0%+30,050
Man Group plc565,593$1.3M0.0%New
Post Resch Tallon Group Inc.563,478$1.3M0.9%−8,000
Perkins Capital Management Inc526,100$1.2M0.9%−1,400
Fmr LLC478,483$1.1M0.0%+65,886
Goldman Sachs Group Inc434,924$982.9K0.0%−389,946

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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