Stocks · Healthcare · Biotechnology
Codexis, Inc. CDXS
$1.36 +0.00% Close, Oct 2, 2026 · NASDAQ · Market cap $146.3M
Weak trendHigh risk
Next earnings report: Nov 5, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin widened to -31.2% from -100.1% a year earlier.
- Revenue over the last four quarters was $77.7M, up 35.9% from a year earlier, slowing from 56.8% a quarter earlier.
- The stock is in a downtrend: below its 200-day average, with the 50-day average below the 200-day.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 21%
- Revenue growth, 3-year CAGRBottom 8%
- Revenue growth accelerationBottom 12%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 49%
- Gross marginTop 26%
- Operating marginBottom 40%
- Accruals (lower is better)Top 18%
- Interest coverBottom 28%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 28%
- Free-cash-flow yieldBottom 41%
- EBITDA / enterprise valueBottom 37%
- Sales / enterprise valueTop 31%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 10%
- 6-month returnBottom 20%
- 1-year return vs S&P 500Bottom 12%
- Distance from 52-week highBottom 24%
- Trend checklist (0–4)Bottom 14%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 4%
- Consecutive EPS beatsTop 25%
- Share of analysts rating BuyBottom 30%
- Upside to consensus price targetTop 4%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 15%
- Maximum drawdown, 3 yearsBottom 27%
- Beta vs S&P 500 (lower is better)Bottom 6%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 56.8% | 35.9% | ↓ |
| Gross margin | 75.3% | 83.7% | ↑ |
| Operating margin | -100.1% | -31.2% | ↑ |
| FCF margin | -118.5% | -15.7% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 35.9% | 56.8% | ↓ | Top 21% |
| Gross margin | 83.7% | 75.3% | ↑ | Top 26% |
| Operating margin | -31.2% | -100.1% | ↑ | Bottom 40% |
| Net margin | -39.6% | -113.7% | ↑ | — |
| Free-cash-flow margin | -15.7% | -118.5% | ↑ | — |
| Return on invested capital | -22.7% | — | Bottom 49% | |
| Revenue growth, 3-year CAGR | -20.2% | — | Bottom 8% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -16.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 9.9%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -91.3 pp
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -18.8×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -0.14%
- Shareholder yield
- -0.14%
- Share count change, 1 year
- +6.6%
- Share count change, 3-year CAGR
- +10.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 11, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 3
- Beats in the last 8 reports
- 4 of 8
- Average EPS surprise, last 4
- +100.0%
- Average 2-day reaction, last 8
- -1.5%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $8.00
- Target vs current price
- +488.2%
- Analysts with a rating
- 14
- Share rating Buy or Strong Buy
- 64%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 11, 2026 | +8.2% | -1.3% | +6.0% | -4.7% | — |
| May 7, 2026 | +9.1% | -3.0% | -6.0% | +5.3% | -45.5% |
| Mar 11, 2026 | +1000.0% | +2.4% | +18.5% | +78.2% | +125.8% |
| Nov 6, 2025 | -46.7% | -5.1% | -10.2% | -17.7% | -36.7% |
| Aug 13, 2025 | +5.9% | +6.6% | +0.3% | -15.0% | -24.8% |
| May 14, 2025 | -25.0% | -3.5% | -4.3% | -7.8% | +8.2% |
| Feb 27, 2025 | -225.0% | -5.5% | -34.4% | -32.2% | -40.9% |
| Oct 31, 2024 | -16.0% | -2.2% | +24.9% | +43.0% | +39.3% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 11, 2026 | -$0.13 | -$0.14 | +8.2% | $14.9M |
| May 7, 2026 | -$0.10 | -$0.11 | +9.1% | $15.2M |
| Mar 11, 2026 | $0.11 | $0.01 | +1000.0% | $38.9M |
| Nov 6, 2025 | -$0.22 | -$0.15 | -46.7% | $8.6M |
| Aug 13, 2025 | -$0.16 | -$0.17 | +5.9% | $15.3M |
| May 14, 2025 | -$0.25 | -$0.20 | -25.0% | $7.5M |
| Feb 27, 2025 | -$0.13 | -$0.04 | -225.0% | $21.5M |
| Oct 31, 2024 | -$0.29 | -$0.25 | -16.0% | $12.8M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 2.47× | — | — | Top 31% |
| Free-cash-flow yield | -8.33% | — | — | Bottom 41% |
| Earnings yield | -24.70% | — | — | Bottom 28% |
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -20.1%
- 200-day average slope (20 days)
- -1.6%
- Distance from 50-day average
- -8.1%
- Distance from 200-day average
- -26.6%
- RSI (14)
- 41.3
- Relative volume
- 0.67×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 83.6%
- Volatility vs own 5-year history
- 58th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 2.34
- Correlation with S&P 500
- 0.44
- Current drawdown from 1-year high
- -52.3%
- Maximum drawdown, 3 years
- -83.1%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Nov 8, 2021 | Mar 3, 2026 | -97.7% | 1081 days | Not yet recovered |
| Feb 8, 2021 | May 10, 2021 | -39.3% | 63 days | 105 days (Oct 7, 2021) |
| Jan 19, 2021 | Jan 27, 2021 | -16.0% | 6 days | 4 days (Feb 2, 2021) |
| Oct 8, 2021 | Oct 14, 2021 | -14.8% | 4 days | 8 days (Oct 26, 2021) |
| Oct 13, 2020 | Nov 2, 2020 | -12.1% | 14 days | 5 days (Nov 9, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $146.3M
- EPS, diluted (TTM)
- -$0.34
- Revenue (TTM)
- $77.7M
- 52-week range
- $0.96 – $2.98
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $104.8M | $138.6M | $70.1M | $59.3M | $70.4M |
| Gross profit | $82.5M | $100.6M | $57.3M | $43.1M | $61.0M |
| Operating income | -$22.7M | -$34.9M | -$68.1M | -$58.5M | -$38.3M |
| Net income | -$21.3M | -$33.6M | -$76.2M | -$65.3M | -$44.0M |
| EPS (diluted) | -$0.33 | -$0.51 | -$1.12 | -$0.89 | -$0.50 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.8M | $21.5M | $7.5M | $15.3M | $8.6M | $38.9M | $15.2M | $14.9M |
| Net income | -$20.6M | -$10.4M | -$20.7M | -$13.3M | -$19.6M | $9.6M | -$8.7M | -$12.0M |
| EPS (diluted) | -$0.29 | -$0.13 | -$0.25 | -$0.16 | -$0.22 | $0.11 | -$0.10 | -$0.13 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$14.3M | $11.3M | -$52.6M | -$49.4M | -$19.4M |
| Capital expenditure | -$13.8M | -$8.3M | -$4.4M | -$4.3M | -$4.5M |
| Free cash flow | -$28.1M | $3.0M | -$57.1M | -$53.7M | -$23.8M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $5.0M | $913,000 | $8.7M | $31.3M | $18.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $54.9M
- Total assets
- $120.1M
- Total liabilities
- $87.1M
- Total debt
- $72.6M
- Net debt
- $45.4M
- Shareholders’ equity
- $33.0M
As of Jun 30, 2026 (filed Aug 11, 2026).
Short interest
- Shares sold short
- 4,025,042
- Days to cover
- 5.74
- Change vs previous report
- +4.6%
FINRA short interest, settlement date Sep 15, 2026.