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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and Integra Resources Corp. (ITRG). Click either name above to swap in a different company.

Integra Resources Corp. is the larger business by last-quarter revenue ($57.0M vs $38.9M, roughly 1.5× CODEXIS, INC.). CODEXIS, INC. runs the higher net margin — 24.7% vs -9.6%, a 34.3% gap on every dollar of revenue.

Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.

Integra Resources Corp is a mineral exploration and development firm focused on advancing high-potential gold and silver projects. It primarily operates in the western United States, conducting geological surveys, resource assessment, and feasibility studies to unlock value from precious metal deposits while adhering to sustainable operational standards.

CDXS vs ITRG — Head-to-Head

Bigger by revenue
ITRG
ITRG
1.5× larger
ITRG
$57.0M
$38.9M
CDXS
Higher net margin
CDXS
CDXS
34.3% more per $
CDXS
24.7%
-9.6%
ITRG

Income Statement — Q4 FY2025 vs Q1 FY2025

Metric
CDXS
CDXS
ITRG
ITRG
Revenue
$38.9M
$57.0M
Net Profit
$9.6M
$-5.5M
Gross Margin
94.8%
Operating Margin
27.1%
Net Margin
24.7%
-9.6%
Revenue YoY
81.3%
Net Profit YoY
192.5%
EPS (diluted)
$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.

Revenue
CDXS
CDXS
ITRG
ITRG
Q4 25
$38.9M
Q3 25
$8.6M
Q2 25
$15.3M
Q1 25
$7.5M
$57.0M
Q4 24
$21.5M
Q3 24
$12.8M
Q2 24
$8.0M
Q1 24
$17.1M
Net Profit
CDXS
CDXS
ITRG
ITRG
Q4 25
$9.6M
Q3 25
$-19.6M
Q2 25
$-13.3M
Q1 25
$-20.7M
$-5.5M
Q4 24
$-10.4M
Q3 24
$-20.6M
Q2 24
$-22.8M
Q1 24
$-11.5M
Gross Margin
CDXS
CDXS
ITRG
ITRG
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 24
71.6%
Operating Margin
CDXS
CDXS
ITRG
ITRG
Q4 25
27.1%
Q3 25
-220.3%
Q2 25
-83.9%
Q1 25
-271.6%
Q4 24
-34.2%
Q3 24
-129.0%
Q2 24
-284.9%
Q1 24
-69.6%
Net Margin
CDXS
CDXS
ITRG
ITRG
Q4 25
24.7%
Q3 25
-228.1%
Q2 25
-86.6%
Q1 25
-274.3%
-9.6%
Q4 24
-48.4%
Q3 24
-160.8%
Q2 24
-285.2%
Q1 24
-67.4%
EPS (diluted)
CDXS
CDXS
ITRG
ITRG
Q4 25
$0.13
Q3 25
$-0.22
Q2 25
$-0.16
Q1 25
$-0.25
Q4 24
$-0.12
Q3 24
$-0.29
Q2 24
$-0.32
Q1 24
$-0.16

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CDXS
CDXS
ITRG
ITRG
Cash + ST InvestmentsLiquidity on hand
$78.2M
Total DebtLower is stronger
$40.1M
Stockholders' EquityBook value
$50.5M
Total Assets
$147.8M
Debt / EquityLower = less leverage
0.79×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CDXS
CDXS
ITRG
ITRG
Q4 25
$78.2M
Q3 25
$58.7M
Q2 25
$66.3M
Q1 25
$59.8M
Q4 24
$73.5M
Q3 24
$90.3M
Q2 24
$73.2M
Q1 24
$85.5M
Total Debt
CDXS
CDXS
ITRG
ITRG
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
Stockholders' Equity
CDXS
CDXS
ITRG
ITRG
Q4 25
$50.5M
Q3 25
$38.5M
Q2 25
$55.6M
Q1 25
$49.6M
Q4 24
$66.9M
Q3 24
$73.4M
Q2 24
$61.4M
Q1 24
$79.3M
Total Assets
CDXS
CDXS
ITRG
ITRG
Q4 25
$147.8M
Q3 25
$124.0M
Q2 25
$138.2M
Q1 25
$128.9M
Q4 24
$149.0M
Q3 24
$148.2M
Q2 24
$132.0M
Q1 24
$149.6M
Debt / Equity
CDXS
CDXS
ITRG
ITRG
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
CDXS
CDXS
ITRG
ITRG
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.

Operating Cash Flow
CDXS
CDXS
ITRG
ITRG
Q4 25
$20.1M
Q3 25
$-7.7M
Q2 25
$-18.0M
Q1 25
$-13.8M
Q4 24
$-16.5M
Q3 24
$-13.0M
Q2 24
$-12.2M
Q1 24
$-7.8M
Free Cash Flow
CDXS
CDXS
ITRG
ITRG
Q4 25
$19.6M
Q3 25
$-7.9M
Q2 25
$-20.5M
Q1 25
$-15.1M
Q4 24
$-18.2M
Q3 24
$-14.0M
Q2 24
$-12.6M
Q1 24
$-8.9M
FCF Margin
CDXS
CDXS
ITRG
ITRG
Q4 25
50.3%
Q3 25
-91.7%
Q2 25
-133.6%
Q1 25
-199.6%
Q4 24
-85.0%
Q3 24
-109.0%
Q2 24
-157.5%
Q1 24
-52.2%
Capex Intensity
CDXS
CDXS
ITRG
ITRG
Q4 25
1.3%
Q3 25
2.1%
Q2 25
16.4%
Q1 25
16.7%
Q4 24
8.3%
Q3 24
7.8%
Q2 24
5.0%
Q1 24
6.6%
Cash Conversion
CDXS
CDXS
ITRG
ITRG
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.

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