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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and i-80 Gold Corp. (IAUX). Click either name above to swap in a different company.
CODEXIS, INC. is the larger business by last-quarter revenue ($38.9M vs $21.3M, roughly 1.8× i-80 Gold Corp.). CODEXIS, INC. runs the higher net margin — 24.7% vs -401.9%, a 426.6% gap on every dollar of revenue. CODEXIS, INC. produced more free cash flow last quarter ($19.6M vs $-39.2M).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
i-80 Gold Corp is a mineral exploration and development firm focused on gold and silver asset operations in Nevada, US. It advances high-potential mining projects, using responsible extraction practices to deliver precious metals to global industrial and investment markets.
CDXS vs IAUX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $21.3M |
| Net Profit | $9.6M | $-85.6M |
| Gross Margin | 94.8% | 22.0% |
| Operating Margin | 27.1% | -291.6% |
| Net Margin | 24.7% | -401.9% |
| Revenue YoY | 81.3% | — |
| Net Profit YoY | 192.5% | — |
| EPS (diluted) | $0.13 | $-0.10 |
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 | $38.9M | $21.3M | ||
| Q3 25 | $8.6M | $32.0M | ||
| Q2 25 | $15.3M | $27.8M | ||
| Q1 25 | $7.5M | $14.0M | ||
| Q4 24 | $21.5M | — | ||
| Q3 24 | $12.8M | $11.5M | ||
| Q2 24 | $8.0M | $7.2M | ||
| Q1 24 | $17.1M | — |
| Q4 25 | $9.6M | $-85.6M | ||
| Q3 25 | $-19.6M | $-41.9M | ||
| Q2 25 | $-13.3M | $-30.2M | ||
| Q1 25 | $-20.7M | $-41.2M | ||
| Q4 24 | $-10.4M | — | ||
| Q3 24 | $-20.6M | $-43.1M | ||
| Q2 24 | $-22.8M | $-41.0M | ||
| Q1 24 | $-11.5M | — |
| Q4 25 | 94.8% | 22.0% | ||
| Q3 25 | 71.3% | 9.7% | ||
| Q2 25 | 86.3% | 2.9% | ||
| Q1 25 | 63.8% | 20.7% | ||
| Q4 24 | 83.0% | — | ||
| Q3 24 | 66.4% | -42.7% | ||
| Q2 24 | 56.6% | -171.4% | ||
| Q1 24 | 71.6% | — |
| Q4 25 | 27.1% | -291.6% | ||
| Q3 25 | -220.3% | -86.7% | ||
| Q2 25 | -83.9% | -67.4% | ||
| Q1 25 | -271.6% | -112.3% | ||
| Q4 24 | -34.2% | — | ||
| Q3 24 | -129.0% | -210.0% | ||
| Q2 24 | -284.9% | -435.2% | ||
| Q1 24 | -69.6% | — |
| Q4 25 | 24.7% | -401.9% | ||
| Q3 25 | -228.1% | -130.8% | ||
| Q2 25 | -86.6% | -108.5% | ||
| Q1 25 | -274.3% | -293.3% | ||
| Q4 24 | -48.4% | — | ||
| Q3 24 | -160.8% | -374.5% | ||
| Q2 24 | -285.2% | -570.8% | ||
| Q1 24 | -67.4% | — |
| Q4 25 | $0.13 | $-0.10 | ||
| Q3 25 | $-0.22 | $-0.05 | ||
| Q2 25 | $-0.16 | $-0.05 | ||
| Q1 25 | $-0.25 | $-0.10 | ||
| Q4 24 | $-0.12 | — | ||
| Q3 24 | $-0.29 | $-0.11 | ||
| Q2 24 | $-0.32 | $-0.11 | ||
| Q1 24 | $-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 | $78.2M | $63.2M |
| Total DebtLower is stronger | $40.1M | $174.7M |
| Stockholders' EquityBook value | $50.5M | $346.8M |
| Total Assets | $147.8M | $703.4M |
| Debt / EquityLower = less leverage | 0.79× | 0.50× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.2M | $63.2M | ||
| Q3 25 | $58.7M | $102.9M | ||
| Q2 25 | $66.3M | $133.7M | ||
| Q1 25 | $59.8M | $13.5M | ||
| Q4 24 | $73.5M | — | ||
| Q3 24 | $90.3M | $21.8M | ||
| Q2 24 | $73.2M | $47.8M | ||
| Q1 24 | $85.5M | — |
| Q4 25 | $40.1M | $174.7M | ||
| Q3 25 | $39.7M | $175.9M | ||
| Q2 25 | $39.4M | $175.8M | ||
| Q1 25 | $29.2M | $197.5M | ||
| Q4 24 | $28.9M | — | ||
| Q3 24 | $28.6M | — | ||
| Q2 24 | $28.4M | — | ||
| Q1 24 | $28.1M | — |
| Q4 25 | $50.5M | $346.8M | ||
| Q3 25 | $38.5M | $423.0M | ||
| Q2 25 | $55.6M | $463.5M | ||
| Q1 25 | $49.6M | $318.0M | ||
| Q4 24 | $66.9M | — | ||
| Q3 24 | $73.4M | $346.9M | ||
| Q2 24 | $61.4M | $377.2M | ||
| Q1 24 | $79.3M | — |
| Q4 25 | $147.8M | $703.4M | ||
| Q3 25 | $124.0M | $756.2M | ||
| Q2 25 | $138.2M | $782.9M | ||
| Q1 25 | $128.9M | $659.0M | ||
| Q4 24 | $149.0M | — | ||
| Q3 24 | $148.2M | — | ||
| Q2 24 | $132.0M | — | ||
| Q1 24 | $149.6M | — |
| Q4 25 | 0.79× | 0.50× | ||
| Q3 25 | 1.03× | 0.42× | ||
| Q2 25 | 0.71× | 0.38× | ||
| Q1 25 | 0.59× | 0.62× | ||
| 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 | $20.1M | $-34.3M |
| Free Cash FlowOCF − Capex | $19.6M | $-39.2M |
| FCF MarginFCF / Revenue | 50.3% | -184.3% |
| Capex IntensityCapex / Revenue | 1.3% | 23.1% |
| Cash ConversionOCF / Net Profit | 2.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | $-93.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.1M | $-34.3M | ||
| Q3 25 | $-7.7M | $-15.2M | ||
| Q2 25 | $-18.0M | $-11.3M | ||
| Q1 25 | $-13.8M | $-22.7M | ||
| Q4 24 | $-16.5M | — | ||
| Q3 24 | $-13.0M | $-23.5M | ||
| Q2 24 | $-12.2M | $-24.6M | ||
| Q1 24 | $-7.8M | — |
| Q4 25 | $19.6M | $-39.2M | ||
| Q3 25 | $-7.9M | $-18.5M | ||
| Q2 25 | $-20.5M | $-12.4M | ||
| Q1 25 | $-15.1M | $-23.1M | ||
| Q4 24 | $-18.2M | — | ||
| Q3 24 | $-14.0M | $-23.8M | ||
| Q2 24 | $-12.6M | $-25.1M | ||
| Q1 24 | $-8.9M | — |
| Q4 25 | 50.3% | -184.3% | ||
| Q3 25 | -91.7% | -57.8% | ||
| Q2 25 | -133.6% | -44.7% | ||
| Q1 25 | -199.6% | -164.1% | ||
| Q4 24 | -85.0% | — | ||
| Q3 24 | -109.0% | -206.7% | ||
| Q2 24 | -157.5% | -349.1% | ||
| Q1 24 | -52.2% | — |
| Q4 25 | 1.3% | 23.1% | ||
| Q3 25 | 2.1% | 10.2% | ||
| Q2 25 | 16.4% | 3.9% | ||
| Q1 25 | 16.7% | 2.5% | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 7.8% | 2.5% | ||
| Q2 24 | 5.0% | 7.3% | ||
| Q1 24 | 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
CDXS
Segment breakdown not available.
IAUX
| Granite Creek Mining Company | $20.3M | 95% |
| Ruby Hill Mining Company LLC | $991.0K | 5% |
| Lone Tree Minning Company | $3.0K | 0% |
