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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and CS Disco, Inc. (LAW). Click either name above to swap in a different company.
CS Disco, Inc. is the larger business by last-quarter revenue ($41.9M vs $38.9M, roughly 1.1× CODEXIS, INC.). CODEXIS, INC. runs the higher net margin — 24.7% vs -23.0%, a 47.6% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs 14.3%). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 7.9%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
CS Disco, Inc. is a leading legal technology provider that develops cloud-based software solutions for legal practitioners. Its core offerings include e-discovery, document review, case management, and legal workflow automation tools, serving law firms, corporate legal teams, and government legal departments primarily in North America.
CDXS vs LAW — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $41.9M |
| Net Profit | $9.6M | $-9.6M |
| Gross Margin | 94.8% | 74.2% |
| Operating Margin | 27.1% | 1.7% |
| Net Margin | 24.7% | -23.0% |
| Revenue YoY | 81.3% | 14.3% |
| Net Profit YoY | 192.5% | 15.6% |
| EPS (diluted) | $0.13 | $-0.15 |
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 | — | $41.9M | ||
| Q4 25 | $38.9M | $41.2M | ||
| Q3 25 | $8.6M | $40.9M | ||
| Q2 25 | $15.3M | $38.1M | ||
| Q1 25 | $7.5M | $36.7M | ||
| Q4 24 | $21.5M | $37.0M | ||
| Q3 24 | $12.8M | $36.3M | ||
| Q2 24 | $8.0M | $36.0M |
| Q1 26 | — | $-9.6M | ||
| Q4 25 | $9.6M | $-8.5M | ||
| Q3 25 | $-19.6M | $-13.7M | ||
| Q2 25 | $-13.3M | $-10.8M | ||
| Q1 25 | $-20.7M | $-11.4M | ||
| Q4 24 | $-10.4M | $-25.2M | ||
| Q3 24 | $-20.6M | $-9.2M | ||
| Q2 24 | $-22.8M | $-10.8M |
| Q1 26 | — | 74.2% | ||
| Q4 25 | 94.8% | 75.1% | ||
| Q3 25 | 71.3% | 75.5% | ||
| Q2 25 | 86.3% | 74.6% | ||
| Q1 25 | 63.8% | 74.1% | ||
| Q4 24 | 83.0% | 74.2% | ||
| Q3 24 | 66.4% | 73.1% | ||
| Q2 24 | 56.6% | 74.2% |
| Q1 26 | — | 1.7% | ||
| Q4 25 | 27.1% | -22.4% | ||
| Q3 25 | -220.3% | -35.3% | ||
| Q2 25 | -83.9% | -31.0% | ||
| Q1 25 | -271.6% | -34.4% | ||
| Q4 24 | -34.2% | -70.6% | ||
| Q3 24 | -129.0% | -30.0% | ||
| Q2 24 | -284.9% | -34.4% |
| Q1 26 | — | -23.0% | ||
| Q4 25 | 24.7% | -20.7% | ||
| Q3 25 | -228.1% | -33.4% | ||
| Q2 25 | -86.6% | -28.4% | ||
| Q1 25 | -274.3% | -31.1% | ||
| Q4 24 | -48.4% | -68.1% | ||
| Q3 24 | -160.8% | -25.3% | ||
| Q2 24 | -285.2% | -30.1% |
| Q1 26 | — | $-0.15 | ||
| Q4 25 | $0.13 | $-0.13 | ||
| Q3 25 | $-0.22 | $-0.22 | ||
| Q2 25 | $-0.16 | $-0.18 | ||
| Q1 25 | $-0.25 | $-0.19 | ||
| Q4 24 | $-0.12 | $-0.43 | ||
| Q3 24 | $-0.29 | $-0.15 | ||
| Q2 24 | $-0.32 | $-0.18 |
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 | $103.0M |
| Total DebtLower is stronger | $40.1M | — |
| Stockholders' EquityBook value | $50.5M | $123.9M |
| Total Assets | $147.8M | $162.4M |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $103.0M | ||
| Q4 25 | $78.2M | $114.6M | ||
| Q3 25 | $58.7M | $113.5M | ||
| Q2 25 | $66.3M | $114.5M | ||
| Q1 25 | $59.8M | $118.8M | ||
| Q4 24 | $73.5M | $129.1M | ||
| Q3 24 | $90.3M | $126.8M | ||
| Q2 24 | $73.2M | $130.0M |
| 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 | — | $123.9M | ||
| Q4 25 | $50.5M | $128.1M | ||
| Q3 25 | $38.5M | $130.6M | ||
| Q2 25 | $55.6M | $137.9M | ||
| Q1 25 | $49.6M | $142.2M | ||
| Q4 24 | $66.9M | $147.5M | ||
| Q3 24 | $73.4M | $167.3M | ||
| Q2 24 | $61.4M | $170.9M |
| Q1 26 | — | $162.4M | ||
| Q4 25 | $147.8M | $173.6M | ||
| Q3 25 | $124.0M | $174.8M | ||
| Q2 25 | $138.2M | $164.9M | ||
| Q1 25 | $128.9M | $168.0M | ||
| Q4 24 | $149.0M | $180.3M | ||
| Q3 24 | $148.2M | $194.4M | ||
| Q2 24 | $132.0M | $198.0M |
| 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 | $-11.7M |
| 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 | — | $-11.7M | ||
| Q4 25 | $20.1M | $762.0K | ||
| Q3 25 | $-7.7M | $-979.0K | ||
| Q2 25 | $-18.0M | $-4.2M | ||
| Q1 25 | $-13.8M | $-10.5M | ||
| Q4 24 | $-16.5M | $2.1M | ||
| Q3 24 | $-13.0M | $-2.9M | ||
| Q2 24 | $-12.2M | $-650.0K |
| Q1 26 | — | — | ||
| Q4 25 | $19.6M | $255.0K | ||
| Q3 25 | $-7.9M | $-2.0M | ||
| Q2 25 | $-20.5M | $-5.2M | ||
| Q1 25 | $-15.1M | $-11.0M | ||
| Q4 24 | $-18.2M | $1.5M | ||
| Q3 24 | $-14.0M | $-3.7M | ||
| Q2 24 | $-12.6M | $-1.3M |
| Q1 26 | — | — | ||
| Q4 25 | 50.3% | 0.6% | ||
| Q3 25 | -91.7% | -5.0% | ||
| Q2 25 | -133.6% | -13.6% | ||
| Q1 25 | -199.6% | -30.1% | ||
| Q4 24 | -85.0% | 4.1% | ||
| Q3 24 | -109.0% | -10.3% | ||
| Q2 24 | -157.5% | -3.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 1.2% | ||
| Q3 25 | 2.1% | 2.6% | ||
| Q2 25 | 16.4% | 2.5% | ||
| Q1 25 | 16.7% | 1.4% | ||
| Q4 24 | 8.3% | 1.5% | ||
| Q3 24 | 7.8% | 2.4% | ||
| Q2 24 | 5.0% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | 2.09× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
