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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and Katapult Holdings, Inc. (KPLT). Click either name above to swap in a different company.
Katapult Holdings, Inc. is the larger business by last-quarter revenue ($73.9M vs $38.9M, roughly 1.9× CODEXIS, INC.). Katapult Holdings, Inc. runs the higher net margin — 26.8% vs 24.7%, a 2.2% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs 17.3%). CODEXIS, INC. produced more free cash flow last quarter ($19.6M vs $-12.0M). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 6.6%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
Katapult Holdings, Inc. is a U.S.-based fintech company that provides accessible point-of-sale lease-to-purchase solutions for consumers with limited or no traditional credit history. It partners with a wide network of e-commerce platforms and brick-and-mortar retail merchants across segments including electronics, furniture and home goods to offer flexible payment plans for customers to obtain needed products.
CDXS vs KPLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $73.9M |
| Net Profit | $9.6M | $19.8M |
| Gross Margin | 94.8% | 15.6% |
| Operating Margin | 27.1% | -1.4% |
| Net Margin | 24.7% | 26.8% |
| Revenue YoY | 81.3% | 17.3% |
| Net Profit YoY | 192.5% | 307.3% |
| EPS (diluted) | $0.13 | $3.69 |
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 | $73.9M | ||
| Q3 25 | $8.6M | $74.0M | ||
| Q2 25 | $15.3M | $71.9M | ||
| Q1 25 | $7.5M | $71.9M | ||
| Q4 24 | $21.5M | $63.0M | ||
| Q3 24 | $12.8M | $60.3M | ||
| Q2 24 | $8.0M | $58.9M | ||
| Q1 24 | $17.1M | $65.1M |
| Q4 25 | $9.6M | $19.8M | ||
| Q3 25 | $-19.6M | $-4.9M | ||
| Q2 25 | $-13.3M | $-7.8M | ||
| Q1 25 | $-20.7M | $-5.7M | ||
| Q4 24 | $-10.4M | $-9.6M | ||
| Q3 24 | $-20.6M | $-8.9M | ||
| Q2 24 | $-22.8M | $-6.9M | ||
| Q1 24 | $-11.5M | $-570.0K |
| Q4 25 | 94.8% | 15.6% | ||
| Q3 25 | 71.3% | 19.7% | ||
| Q2 25 | 86.3% | 15.5% | ||
| Q1 25 | 63.8% | 19.9% | ||
| Q4 24 | 83.0% | 11.8% | ||
| Q3 24 | 66.4% | 19.8% | ||
| Q2 24 | 56.6% | 16.9% | ||
| Q1 24 | 71.6% | 25.3% |
| Q4 25 | 27.1% | -1.4% | ||
| Q3 25 | -220.3% | 3.3% | ||
| Q2 25 | -83.9% | -2.0% | ||
| Q1 25 | -271.6% | -0.7% | ||
| Q4 24 | -34.2% | -7.7% | ||
| Q3 24 | -129.0% | -7.4% | ||
| Q2 24 | -284.9% | -4.5% | ||
| Q1 24 | -69.6% | 5.8% |
| Q4 25 | 24.7% | 26.8% | ||
| Q3 25 | -228.1% | -6.7% | ||
| Q2 25 | -86.6% | -10.9% | ||
| Q1 25 | -274.3% | -7.9% | ||
| Q4 24 | -48.4% | -15.2% | ||
| Q3 24 | -160.8% | -14.7% | ||
| Q2 24 | -285.2% | -11.7% | ||
| Q1 24 | -67.4% | -0.9% |
| Q4 25 | $0.13 | $3.69 | ||
| Q3 25 | $-0.22 | $-0.94 | ||
| Q2 25 | $-0.16 | $-1.63 | ||
| Q1 25 | $-0.25 | $-1.23 | ||
| Q4 24 | $-0.12 | $-2.17 | ||
| Q3 24 | $-0.29 | $-2.05 | ||
| Q2 24 | $-0.32 | $-1.61 | ||
| Q1 24 | $-0.16 | $-0.13 |
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 | $22.4M |
| Total DebtLower is stronger | $40.1M | — |
| Stockholders' EquityBook value | $50.5M | $-38.1M |
| Total Assets | $147.8M | $107.9M |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.2M | $22.4M | ||
| Q3 25 | $58.7M | $3.4M | ||
| Q2 25 | $66.3M | $3.7M | ||
| Q1 25 | $59.8M | $6.0M | ||
| Q4 24 | $73.5M | $3.5M | ||
| Q3 24 | $90.3M | $25.9M | ||
| Q2 24 | $73.2M | $33.7M | ||
| Q1 24 | $85.5M | $31.2M |
| 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 | $50.5M | $-38.1M | ||
| Q3 25 | $38.5M | $-58.4M | ||
| Q2 25 | $55.6M | $-54.1M | ||
| Q1 25 | $49.6M | $-51.7M | ||
| Q4 24 | $66.9M | $-46.8M | ||
| Q3 24 | $73.4M | $-40.3M | ||
| Q2 24 | $61.4M | $-32.9M | ||
| Q1 24 | $79.3M | $-27.5M |
| Q4 25 | $147.8M | $107.9M | ||
| Q3 25 | $124.0M | $85.9M | ||
| Q2 25 | $138.2M | $90.6M | ||
| Q1 25 | $128.9M | $88.5M | ||
| Q4 24 | $149.0M | $93.2M | ||
| Q3 24 | $148.2M | $92.0M | ||
| Q2 24 | $132.0M | $106.6M | ||
| Q1 24 | $149.6M | $106.6M |
| 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 | $20.1M | $-11.9M |
| Free Cash FlowOCF − Capex | $19.6M | $-12.0M |
| FCF MarginFCF / Revenue | 50.3% | -16.2% |
| Capex IntensityCapex / Revenue | 1.3% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.09× | -0.60× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.1M | $-11.9M | ||
| Q3 25 | $-7.7M | $4.0M | ||
| Q2 25 | $-18.0M | $-6.6M | ||
| Q1 25 | $-13.8M | $3.4M | ||
| Q4 24 | $-16.5M | $-32.6M | ||
| Q3 24 | $-13.0M | $-5.4M | ||
| Q2 24 | $-12.2M | $-628.0K | ||
| Q1 24 | $-7.8M | $2.0M |
| Q4 25 | $19.6M | $-12.0M | ||
| Q3 25 | $-7.9M | $4.0M | ||
| Q2 25 | $-20.5M | — | ||
| Q1 25 | $-15.1M | $3.4M | ||
| Q4 24 | $-18.2M | $-32.6M | ||
| Q3 24 | $-14.0M | $-5.4M | ||
| Q2 24 | $-12.6M | $-653.0K | ||
| Q1 24 | $-8.9M | — |
| Q4 25 | 50.3% | -16.2% | ||
| Q3 25 | -91.7% | 5.4% | ||
| Q2 25 | -133.6% | — | ||
| Q1 25 | -199.6% | 4.7% | ||
| Q4 24 | -85.0% | -51.8% | ||
| Q3 24 | -109.0% | -9.0% | ||
| Q2 24 | -157.5% | -1.1% | ||
| Q1 24 | -52.2% | — |
| Q4 25 | 1.3% | 0.0% | ||
| Q3 25 | 2.1% | 0.0% | ||
| Q2 25 | 16.4% | 0.0% | ||
| Q1 25 | 16.7% | 0.0% | ||
| Q4 24 | 8.3% | 0.1% | ||
| Q3 24 | 7.8% | 0.0% | ||
| Q2 24 | 5.0% | 0.0% | ||
| Q1 24 | 6.6% | 0.0% |
| Q4 25 | 2.09× | -0.60× | ||
| 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.
