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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and Finwise Bancorp (FINW). Click either name above to swap in a different company.
Finwise Bancorp is the larger business by last-quarter revenue ($42.7M vs $38.9M, roughly 1.1× CODEXIS, INC.). CODEXIS, INC. runs the higher net margin — 24.7% vs 6.4%, a 18.3% gap on every dollar of revenue. Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 47.0%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
Finwise Bancorp is a U.S.-based financial holding company that operates primarily through its community banking subsidiary. It offers a full suite of retail and commercial financial services, including deposit accounts, personal loans, mortgage products, small business financing, and wealth management solutions, serving local retail consumers and small to medium-sized business clients across its regional operating markets.
CDXS vs FINW — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $42.7M |
| Net Profit | $9.6M | $2.7M |
| Gross Margin | 94.8% | — |
| Operating Margin | 27.1% | — |
| Net Margin | 24.7% | 6.4% |
| Revenue YoY | 81.3% | — |
| Net Profit YoY | 192.5% | — |
| EPS (diluted) | $0.13 | $0.20 |
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.
| Q1 26 | — | $42.7M | ||
| Q4 25 | $38.9M | $46.9M | ||
| Q3 25 | $8.6M | $36.7M | ||
| Q2 25 | $15.3M | $25.1M | ||
| Q1 25 | $7.5M | $22.1M | ||
| Q4 24 | $21.5M | $21.1M | ||
| Q3 24 | $12.8M | $20.8M | ||
| Q2 24 | $8.0M | $19.8M |
| Q1 26 | — | $2.7M | ||
| Q4 25 | $9.6M | $3.9M | ||
| Q3 25 | $-19.6M | $4.9M | ||
| Q2 25 | $-13.3M | $4.1M | ||
| Q1 25 | $-20.7M | $3.2M | ||
| Q4 24 | $-10.4M | $2.8M | ||
| Q3 24 | $-20.6M | $3.5M | ||
| Q2 24 | $-22.8M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | 94.8% | — | ||
| Q3 25 | 71.3% | — | ||
| Q2 25 | 86.3% | — | ||
| Q1 25 | 63.8% | — | ||
| Q4 24 | 83.0% | — | ||
| Q3 24 | 66.4% | — | ||
| Q2 24 | 56.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 27.1% | 11.7% | ||
| Q3 25 | -220.3% | 17.5% | ||
| Q2 25 | -83.9% | 21.7% | ||
| Q1 25 | -271.6% | 20.1% | ||
| Q4 24 | -34.2% | 17.5% | ||
| Q3 24 | -129.0% | 22.2% | ||
| Q2 24 | -284.9% | 21.1% |
| Q1 26 | — | 6.4% | ||
| Q4 25 | 24.7% | 8.4% | ||
| Q3 25 | -228.1% | 13.3% | ||
| Q2 25 | -86.6% | 16.3% | ||
| Q1 25 | -274.3% | 14.4% | ||
| Q4 24 | -48.4% | 13.2% | ||
| Q3 24 | -160.8% | 16.6% | ||
| Q2 24 | -285.2% | 16.1% |
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.13 | $0.27 | ||
| Q3 25 | $-0.22 | $0.34 | ||
| Q2 25 | $-0.16 | $0.29 | ||
| Q1 25 | $-0.25 | $0.23 | ||
| Q4 24 | $-0.12 | $0.19 | ||
| Q3 24 | $-0.29 | $0.25 | ||
| Q2 24 | $-0.32 | $0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.2M | — |
| Total DebtLower is stronger | $40.1M | — |
| Stockholders' EquityBook value | $50.5M | $196.6M |
| Total Assets | $147.8M | $899.4M |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $78.2M | $163.4M | ||
| Q3 25 | $58.7M | $105.6M | ||
| Q2 25 | $66.3M | $90.1M | ||
| Q1 25 | $59.8M | $120.3M | ||
| Q4 24 | $73.5M | $109.2M | ||
| Q3 24 | $90.3M | $85.8M | ||
| Q2 24 | $73.2M | $89.0M |
| Q1 26 | — | — | ||
| 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 26 | — | $196.6M | ||
| Q4 25 | $50.5M | $193.2M | ||
| Q3 25 | $38.5M | $187.8M | ||
| Q2 25 | $55.6M | $182.0M | ||
| Q1 25 | $49.6M | $177.4M | ||
| Q4 24 | $66.9M | $173.7M | ||
| Q3 24 | $73.4M | $170.4M | ||
| Q2 24 | $61.4M | $165.8M |
| Q1 26 | — | $899.4M | ||
| Q4 25 | $147.8M | $977.1M | ||
| Q3 25 | $124.0M | $899.9M | ||
| Q2 25 | $138.2M | $842.5M | ||
| Q1 25 | $128.9M | $804.1M | ||
| Q4 24 | $149.0M | $746.0M | ||
| Q3 24 | $148.2M | $683.0M | ||
| Q2 24 | $132.0M | $617.8M |
| Q1 26 | — | — | ||
| 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× | — |
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 | $20.1M | — |
| Free Cash FlowOCF − Capex | $19.6M | — |
| FCF MarginFCF / Revenue | 50.3% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 2.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $20.1M | $-28.4M | ||
| Q3 25 | $-7.7M | $3.5M | ||
| Q2 25 | $-18.0M | $-18.3M | ||
| Q1 25 | $-13.8M | $-21.6M | ||
| Q4 24 | $-16.5M | $-15.0M | ||
| Q3 24 | $-13.0M | $-9.8M | ||
| Q2 24 | $-12.2M | $-7.6M |
| Q1 26 | — | — | ||
| Q4 25 | $19.6M | $-28.6M | ||
| Q3 25 | $-7.9M | $3.4M | ||
| Q2 25 | $-20.5M | $-19.8M | ||
| Q1 25 | $-15.1M | $-23.3M | ||
| Q4 24 | $-18.2M | $-16.1M | ||
| Q3 24 | $-14.0M | $-13.4M | ||
| Q2 24 | $-12.6M | $-7.7M |
| Q1 26 | — | — | ||
| Q4 25 | 50.3% | -61.1% | ||
| Q3 25 | -91.7% | 9.4% | ||
| Q2 25 | -133.6% | -79.0% | ||
| Q1 25 | -199.6% | -105.3% | ||
| Q4 24 | -85.0% | -76.0% | ||
| Q3 24 | -109.0% | -64.3% | ||
| Q2 24 | -157.5% | -38.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 0.5% | ||
| Q3 25 | 2.1% | 0.1% | ||
| Q2 25 | 16.4% | 5.8% | ||
| Q1 25 | 16.7% | 7.4% | ||
| Q4 24 | 8.3% | 5.1% | ||
| Q3 24 | 7.8% | 17.2% | ||
| Q2 24 | 5.0% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.09× | -7.26× | ||
| Q3 25 | — | 0.71× | ||
| Q2 25 | — | -4.48× | ||
| Q1 25 | — | -6.78× | ||
| Q4 24 | — | -5.37× | ||
| Q3 24 | — | -2.84× | ||
| Q2 24 | — | -2.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDXS
Segment breakdown not available.
FINW
| Net Interest Income | $28.1M | 66% |
| Noninterest Income | $14.6M | 34% |
