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Side-by-side financial comparison of Arteris, Inc. (AIP) and CODEXIS, INC. (CDXS). Click either name above to swap in a different company.
CODEXIS, INC. is the larger business by last-quarter revenue ($38.9M vs $20.1M, roughly 1.9× Arteris, Inc.). CODEXIS, INC. runs the higher net margin — 24.7% vs -42.2%, a 66.9% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs 30.0%). CODEXIS, INC. produced more free cash flow last quarter ($19.6M vs $3.0M). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 24.7%).
Arteris, Inc. is a multinational technology company headquartered in Campbell, California. It develops the network-on-chip (NoC) IP and system-on-chip (SoC) integration automation software that is used to create semiconductor chip and chiplet designs for a variety of devices, particularly in automotive electronics, artificial intelligence, machine learning, enterprise computing, communications, consumer, industrial, and aerospace & defense markets. The company specializes in the development a...
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
AIP vs CDXS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.1M | $38.9M |
| Net Profit | $-8.5M | $9.6M |
| Gross Margin | 90.8% | 94.8% |
| Operating Margin | -42.0% | 27.1% |
| Net Margin | -42.2% | 24.7% |
| Revenue YoY | 30.0% | 81.3% |
| Net Profit YoY | -3.7% | 192.5% |
| EPS (diluted) | $-0.19 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $20.1M | $38.9M | ||
| Q3 25 | $17.4M | $8.6M | ||
| Q2 25 | $16.5M | $15.3M | ||
| Q1 25 | $16.5M | $7.5M | ||
| Q4 24 | $15.5M | $21.5M | ||
| Q3 24 | $14.7M | $12.8M | ||
| Q2 24 | $14.6M | $8.0M | ||
| Q1 24 | $12.9M | $17.1M |
| Q4 25 | $-8.5M | $9.6M | ||
| Q3 25 | $-9.0M | $-19.6M | ||
| Q2 25 | $-9.1M | $-13.3M | ||
| Q1 25 | $-8.1M | $-20.7M | ||
| Q4 24 | $-8.2M | $-10.4M | ||
| Q3 24 | $-7.7M | $-20.6M | ||
| Q2 24 | $-8.3M | $-22.8M | ||
| Q1 24 | $-9.4M | $-11.5M |
| Q4 25 | 90.8% | 94.8% | ||
| Q3 25 | 89.9% | 71.3% | ||
| Q2 25 | 89.4% | 86.3% | ||
| Q1 25 | 90.8% | 63.8% | ||
| Q4 24 | 89.8% | 83.0% | ||
| Q3 24 | 90.1% | 66.4% | ||
| Q2 24 | 90.0% | 56.6% | ||
| Q1 24 | 88.7% | 71.6% |
| Q4 25 | -42.0% | 27.1% | ||
| Q3 25 | -50.1% | -220.3% | ||
| Q2 25 | -50.0% | -83.9% | ||
| Q1 25 | -46.6% | -271.6% | ||
| Q4 24 | -45.9% | -34.2% | ||
| Q3 24 | -53.8% | -129.0% | ||
| Q2 24 | -51.1% | -284.9% | ||
| Q1 24 | -70.5% | -69.6% |
| Q4 25 | -42.2% | 24.7% | ||
| Q3 25 | -51.6% | -228.1% | ||
| Q2 25 | -55.3% | -86.6% | ||
| Q1 25 | -49.1% | -274.3% | ||
| Q4 24 | -53.0% | -48.4% | ||
| Q3 24 | -52.2% | -160.8% | ||
| Q2 24 | -57.2% | -285.2% | ||
| Q1 24 | -72.6% | -67.4% |
| Q4 25 | $-0.19 | $0.13 | ||
| Q3 25 | $-0.21 | $-0.22 | ||
| Q2 25 | $-0.22 | $-0.16 | ||
| Q1 25 | $-0.20 | $-0.25 | ||
| Q4 24 | $-0.19 | $-0.12 | ||
| Q3 24 | $-0.20 | $-0.29 | ||
| Q2 24 | $-0.22 | $-0.32 | ||
| Q1 24 | $-0.25 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $33.9M | $78.2M |
| Total DebtLower is stronger | — | $40.1M |
| Stockholders' EquityBook value | $-14.6M | $50.5M |
| Total Assets | $115.0M | $147.8M |
| Debt / EquityLower = less leverage | — | 0.79× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $33.9M | $78.2M | ||
| Q3 25 | $39.0M | $58.7M | ||
| Q2 25 | $38.0M | $66.3M | ||
| Q1 25 | $42.3M | $59.8M | ||
| Q4 24 | $43.8M | $73.5M | ||
| Q3 24 | $48.7M | $90.3M | ||
| Q2 24 | $45.8M | $73.2M | ||
| Q1 24 | $44.8M | $85.5M |
| Q4 25 | — | $40.1M | ||
| Q3 25 | — | $39.7M | ||
| Q2 25 | — | $39.4M | ||
| Q1 25 | — | $29.2M | ||
| Q4 24 | — | $28.9M | ||
| Q3 24 | — | $28.6M | ||
| Q2 24 | — | $28.4M | ||
| Q1 24 | — | $28.1M |
| Q4 25 | $-14.6M | $50.5M | ||
| Q3 25 | $-11.4M | $38.5M | ||
| Q2 25 | $-7.5M | $55.6M | ||
| Q1 25 | $-4.8M | $49.6M | ||
| Q4 24 | $-1.2M | $66.9M | ||
| Q3 24 | $2.2M | $73.4M | ||
| Q2 24 | $5.3M | $61.4M | ||
| Q1 24 | $9.5M | $79.3M |
| Q4 25 | $115.0M | $147.8M | ||
| Q3 25 | $107.7M | $124.0M | ||
| Q2 25 | $106.9M | $138.2M | ||
| Q1 25 | $98.3M | $128.9M | ||
| Q4 24 | $106.1M | $149.0M | ||
| Q3 24 | $97.7M | $148.2M | ||
| Q2 24 | $96.4M | $132.0M | ||
| Q1 24 | $101.4M | $149.6M |
| Q4 25 | — | 0.79× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.35× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.2M | $20.1M |
| Free Cash FlowOCF − Capex | $3.0M | $19.6M |
| FCF MarginFCF / Revenue | 15.1% | 50.3% |
| Capex IntensityCapex / Revenue | 0.7% | 1.3% |
| Cash ConversionOCF / Net Profit | — | 2.09× |
| TTM Free Cash FlowTrailing 4 quarters | $5.3M | $-23.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.2M | $20.1M | ||
| Q3 25 | $3.2M | $-7.7M | ||
| Q2 25 | $-2.5M | $-18.0M | ||
| Q1 25 | $2.9M | $-13.8M | ||
| Q4 24 | $-2.6M | $-16.5M | ||
| Q3 24 | $1.1M | $-13.0M | ||
| Q2 24 | $311.0K | $-12.2M | ||
| Q1 24 | $477.0K | $-7.8M |
| Q4 25 | $3.0M | $19.6M | ||
| Q3 25 | $2.5M | $-7.9M | ||
| Q2 25 | $-2.8M | $-20.5M | ||
| Q1 25 | $2.7M | $-15.1M | ||
| Q4 24 | $-2.7M | $-18.2M | ||
| Q3 24 | $1.1M | $-14.0M | ||
| Q2 24 | $264.0K | $-12.6M | ||
| Q1 24 | $281.0K | $-8.9M |
| Q4 25 | 15.1% | 50.3% | ||
| Q3 25 | 14.2% | -91.7% | ||
| Q2 25 | -17.2% | -133.6% | ||
| Q1 25 | 16.2% | -199.6% | ||
| Q4 24 | -17.3% | -85.0% | ||
| Q3 24 | 7.4% | -109.0% | ||
| Q2 24 | 1.8% | -157.5% | ||
| Q1 24 | 2.2% | -52.2% |
| Q4 25 | 0.7% | 1.3% | ||
| Q3 25 | 4.1% | 2.1% | ||
| Q2 25 | 2.2% | 16.4% | ||
| Q1 25 | 1.1% | 16.7% | ||
| Q4 24 | 0.3% | 8.3% | ||
| Q3 24 | 0.2% | 7.8% | ||
| Q2 24 | 0.3% | 5.0% | ||
| Q1 24 | 1.5% | 6.6% |
| Q4 25 | — | 2.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AIP
| License And Maintenance | $17.5M | 87% |
| Variable Royalties And Other | $2.6M | 13% |
CDXS
Segment breakdown not available.
