CDXSCODEXIS, INC.
Industrial Organic Chemicals
- Revenue
- $70M
- 19% YoY
- Operating margin
- -59.3%
- 40% YoY
- EBITDA
- −$36M
- 32% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $14M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired14% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear2% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $105M | $139M | $70M | $59M | $70M | 19% |
| Operating income | −$23M | −$35M | −$68M | −$59M | −$42M | 29% |
| Net income | −$21M | −$34M | −$76M | −$65M | −$44M | 33% |
| Operating cash flow | −$14M | $11M | −$53M | −$49M | −$19M | 61% |
| Capex | $14M | $8M | $4M | $4M | $4M | 3.9% |
| Stock-based comp | $12M | $15M | $10M | $13M | $10M | 26% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $17K · 2
- Net
- −$17K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 35 | — |
| FY2024 | — | — | 102 | — |
| FY2023 | — | — | 65 | — |