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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and Massimo Group (MAMO). Click either name above to swap in a different company.

CODEXIS, INC. is the larger business by last-quarter revenue ($38.9M vs $21.0M, roughly 1.9× Massimo Group). CODEXIS, INC. runs the higher net margin — 24.7% vs 9.5%, a 15.2% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs 15.7%). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs -16.5%).

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

Massimo Dutti, S.A. is a Spanish premium clothing retailer specializing in cashmere and wool products, established in 1985 and owned by Spanish multinational company Inditex, the parent company of Zara, Pull&Bear, and other brands.

CDXS vs MAMO — Head-to-Head

Bigger by revenue
CDXS
CDXS
1.9× larger
CDXS
$38.9M
$21.0M
MAMO
Growing faster (revenue YoY)
CDXS
CDXS
+65.6% gap
CDXS
81.3%
15.7%
MAMO
Higher net margin
CDXS
CDXS
15.2% more per $
CDXS
24.7%
9.5%
MAMO
Faster 2-yr revenue CAGR
CDXS
CDXS
Annualised
CDXS
51.0%
-16.5%
MAMO

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
CDXS
CDXS
MAMO
MAMO
Revenue
$38.9M
$21.0M
Net Profit
$9.6M
$2.0M
Gross Margin
94.8%
41.5%
Operating Margin
27.1%
13.1%
Net Margin
24.7%
9.5%
Revenue YoY
81.3%
15.7%
Net Profit YoY
192.5%
215.0%
EPS (diluted)
$0.13
$0.05

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
MAMO
MAMO
Q4 25
$38.9M
$21.0M
Q3 25
$8.6M
$17.0M
Q2 25
$15.3M
$18.9M
Q1 25
$7.5M
$14.9M
Q4 24
$21.5M
$18.2M
Q3 24
$12.8M
$25.6M
Q2 24
$8.0M
$35.4M
Q1 24
$17.1M
$30.2M
Net Profit
CDXS
CDXS
MAMO
MAMO
Q4 25
$9.6M
$2.0M
Q3 25
$-19.6M
$1.5M
Q2 25
$-13.3M
$77.7K
Q1 25
$-20.7M
$-2.1M
Q4 24
$-10.4M
$-1.7M
Q3 24
$-20.6M
$-2.5M
Q2 24
$-22.8M
$2.8M
Q1 24
$-11.5M
$3.2M
Gross Margin
CDXS
CDXS
MAMO
MAMO
Q4 25
94.8%
41.5%
Q3 25
71.3%
42.0%
Q2 25
86.3%
36.3%
Q1 25
63.8%
28.4%
Q4 24
83.0%
19.6%
Q3 24
66.4%
27.2%
Q2 24
56.6%
32.5%
Q1 24
71.6%
34.7%
Operating Margin
CDXS
CDXS
MAMO
MAMO
Q4 25
27.1%
13.1%
Q3 25
-220.3%
10.5%
Q2 25
-83.9%
0.8%
Q1 25
-271.6%
-18.2%
Q4 24
-34.2%
-15.4%
Q3 24
-129.0%
1.2%
Q2 24
-284.9%
10.1%
Q1 24
-69.6%
13.2%
Net Margin
CDXS
CDXS
MAMO
MAMO
Q4 25
24.7%
9.5%
Q3 25
-228.1%
9.0%
Q2 25
-86.6%
0.4%
Q1 25
-274.3%
-14.0%
Q4 24
-48.4%
-9.5%
Q3 24
-160.8%
-9.8%
Q2 24
-285.2%
8.0%
Q1 24
-67.4%
10.6%
EPS (diluted)
CDXS
CDXS
MAMO
MAMO
Q4 25
$0.13
$0.05
Q3 25
$-0.22
$0.04
Q2 25
$-0.16
$0.00
Q1 25
$-0.25
$-0.05
Q4 24
$-0.12
$-0.05
Q3 24
$-0.29
$-0.06
Q2 24
$-0.32
$0.07
Q1 24
$-0.16
$0.08

Balance Sheet & Financial Strength

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

Metric
CDXS
CDXS
MAMO
MAMO
Cash + ST InvestmentsLiquidity on hand
$78.2M
$5.8M
Total DebtLower is stronger
$40.1M
Stockholders' EquityBook value
$50.5M
$23.7M
Total Assets
$147.8M
$51.4M
Debt / EquityLower = less leverage
0.79×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CDXS
CDXS
MAMO
MAMO
Q4 25
$78.2M
$5.8M
Q3 25
$58.7M
$2.6M
Q2 25
$66.3M
Q1 25
$59.8M
$3.0M
Q4 24
$73.5M
$10.2M
Q3 24
$90.3M
Q2 24
$73.2M
Q1 24
$85.5M
Total Debt
CDXS
CDXS
MAMO
MAMO
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
MAMO
MAMO
Q4 25
$50.5M
$23.7M
Q3 25
$38.5M
$21.7M
Q2 25
$55.6M
$20.2M
Q1 25
$49.6M
$19.9M
Q4 24
$66.9M
$21.7M
Q3 24
$73.4M
$22.5M
Q2 24
$61.4M
$24.7M
Q1 24
$79.3M
$18.1M
Total Assets
CDXS
CDXS
MAMO
MAMO
Q4 25
$147.8M
$51.4M
Q3 25
$124.0M
$44.4M
Q2 25
$138.2M
$45.9M
Q1 25
$128.9M
$46.4M
Q4 24
$149.0M
$54.9M
Q3 24
$148.2M
$57.1M
Q2 24
$132.0M
$49.9M
Q1 24
$149.6M
$47.3M
Debt / Equity
CDXS
CDXS
MAMO
MAMO
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
MAMO
MAMO
Operating Cash FlowLast quarter
$20.1M
$4.0M
Free Cash FlowOCF − Capex
$19.6M
FCF MarginFCF / Revenue
50.3%
Capex IntensityCapex / Revenue
1.3%
Cash ConversionOCF / Net Profit
2.09×
2.01×
TTM Free Cash FlowTrailing 4 quarters
$-23.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CDXS
CDXS
MAMO
MAMO
Q4 25
$20.1M
$4.0M
Q3 25
$-7.7M
$633.2K
Q2 25
$-18.0M
$-1.4M
Q1 25
$-13.8M
$-3.3M
Q4 24
$-16.5M
$9.1M
Q3 24
$-13.0M
$4.7M
Q2 24
$-12.2M
$-6.5M
Q1 24
$-7.8M
$-637.0K
Free Cash Flow
CDXS
CDXS
MAMO
MAMO
Q4 25
$19.6M
Q3 25
$-7.9M
Q2 25
$-20.5M
Q1 25
$-15.1M
Q4 24
$-18.2M
$9.0M
Q3 24
$-14.0M
$4.6M
Q2 24
$-12.6M
$-6.7M
Q1 24
$-8.9M
$-741.4K
FCF Margin
CDXS
CDXS
MAMO
MAMO
Q4 25
50.3%
Q3 25
-91.7%
Q2 25
-133.6%
Q1 25
-199.6%
Q4 24
-85.0%
49.7%
Q3 24
-109.0%
18.1%
Q2 24
-157.5%
-19.0%
Q1 24
-52.2%
-2.5%
Capex Intensity
CDXS
CDXS
MAMO
MAMO
Q4 25
1.3%
Q3 25
2.1%
Q2 25
16.4%
Q1 25
16.7%
Q4 24
8.3%
0.2%
Q3 24
7.8%
0.3%
Q2 24
5.0%
0.7%
Q1 24
6.6%
0.3%
Cash Conversion
CDXS
CDXS
MAMO
MAMO
Q4 25
2.09×
2.01×
Q3 25
0.41×
Q2 25
-17.92×
Q1 25
Q4 24
Q3 24
Q2 24
-2.30×
Q1 24
-0.20×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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