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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and Maison Solutions Inc. (MSS). Click either name above to swap in a different company.

CODEXIS, INC. is the larger business by last-quarter revenue ($38.9M vs $27.6M, roughly 1.4× Maison Solutions Inc.). CODEXIS, INC. runs the higher net margin — 24.7% vs -18.0%, a 42.7% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs -10.9%). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 42.5%).

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

Maison Solutions Inc. is a specialty home goods retail company that provides a diverse portfolio of stylish, affordably priced furniture, home decor items, and daily household products. Its primary market is the Guangdong-Hong Kong-Macao Greater Bay Area in China, serving mass consumers through both offline physical stores and online e-commerce channels.

CDXS vs MSS — Head-to-Head

Bigger by revenue
CDXS
CDXS
1.4× larger
CDXS
$38.9M
$27.6M
MSS
Growing faster (revenue YoY)
CDXS
CDXS
+92.3% gap
CDXS
81.3%
-10.9%
MSS
Higher net margin
CDXS
CDXS
42.7% more per $
CDXS
24.7%
-18.0%
MSS
Faster 2-yr revenue CAGR
CDXS
CDXS
Annualised
CDXS
51.0%
42.5%
MSS

Income Statement — Q4 FY2025 vs Q2 FY2026

Metric
CDXS
CDXS
MSS
MSS
Revenue
$38.9M
$27.6M
Net Profit
$9.6M
$-5.0M
Gross Margin
94.8%
23.4%
Operating Margin
27.1%
-4.9%
Net Margin
24.7%
-18.0%
Revenue YoY
81.3%
-10.9%
Net Profit YoY
192.5%
-1840.5%
EPS (diluted)
$0.13
$-0.23

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
MSS
MSS
Q4 25
$38.9M
$27.6M
Q3 25
$8.6M
$27.2M
Q2 25
$15.3M
$34.4M
Q1 25
$7.5M
$32.3M
Q4 24
$21.5M
$29.4M
Q3 24
$12.8M
$28.2M
Q2 24
$8.0M
$16.9M
Q1 24
$17.1M
$13.6M
Net Profit
CDXS
CDXS
MSS
MSS
Q4 25
$9.6M
$-5.0M
Q3 25
$-19.6M
$-1.5M
Q2 25
$-13.3M
$-287.4K
Q1 25
$-20.7M
$1.0M
Q4 24
$-10.4M
$-256.0K
Q3 24
$-20.6M
$700.9K
Q2 24
$-22.8M
$-2.8M
Q1 24
$-11.5M
$-549.0K
Gross Margin
CDXS
CDXS
MSS
MSS
Q4 25
94.8%
23.4%
Q3 25
71.3%
24.1%
Q2 25
86.3%
9.5%
Q1 25
63.8%
21.8%
Q4 24
83.0%
26.9%
Q3 24
66.4%
28.9%
Q2 24
56.6%
13.0%
Q1 24
71.6%
23.4%
Operating Margin
CDXS
CDXS
MSS
MSS
Q4 25
27.1%
-4.9%
Q3 25
-220.3%
0.7%
Q2 25
-83.9%
-15.9%
Q1 25
-271.6%
3.7%
Q4 24
-34.2%
3.2%
Q3 24
-129.0%
7.3%
Q2 24
-284.9%
-14.4%
Q1 24
-69.6%
-2.3%
Net Margin
CDXS
CDXS
MSS
MSS
Q4 25
24.7%
-18.0%
Q3 25
-228.1%
-5.7%
Q2 25
-86.6%
-0.8%
Q1 25
-274.3%
3.1%
Q4 24
-48.4%
-0.9%
Q3 24
-160.8%
2.5%
Q2 24
-285.2%
-16.4%
Q1 24
-67.4%
-4.0%
EPS (diluted)
CDXS
CDXS
MSS
MSS
Q4 25
$0.13
$-0.23
Q3 25
$-0.22
$-0.08
Q2 25
$-0.16
$-0.02
Q1 25
$-0.25
$0.06
Q4 24
$-0.12
$-0.01
Q3 24
$-0.29
$0.04
Q2 24
$-0.32
$-0.16
Q1 24
$-0.16
$-0.03

Balance Sheet & Financial Strength

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

Metric
CDXS
CDXS
MSS
MSS
Cash + ST InvestmentsLiquidity on hand
$78.2M
Total DebtLower is stronger
$40.1M
$2.6M
Stockholders' EquityBook value
$50.5M
$11.6M
Total Assets
$147.8M
$75.4M
Debt / EquityLower = less leverage
0.79×
0.22×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CDXS
CDXS
MSS
MSS
Q4 25
$78.2M
Q3 25
$58.7M
$1.1M
Q2 25
$66.3M
$775.4K
Q1 25
$59.8M
$445.4K
Q4 24
$73.5M
$355.7K
Q3 24
$90.3M
$588.9K
Q2 24
$73.2M
$2.1M
Q1 24
$85.5M
$9.4M
Total Debt
CDXS
CDXS
MSS
MSS
Q4 25
$40.1M
$2.6M
Q3 25
$39.7M
$2.6M
Q2 25
$39.4M
$2.6M
Q1 25
$29.2M
Q4 24
$28.9M
Q3 24
$28.6M
$2.5M
Q2 24
$28.4M
$2.6M
Q1 24
$28.1M
$2.6M
Stockholders' Equity
CDXS
CDXS
MSS
MSS
Q4 25
$50.5M
$11.6M
Q3 25
$38.5M
$10.1M
Q2 25
$55.6M
$11.7M
Q1 25
$49.6M
$12.0M
Q4 24
$66.9M
$10.9M
Q3 24
$73.4M
$11.2M
Q2 24
$61.4M
$10.5M
Q1 24
$79.3M
$13.3M
Total Assets
CDXS
CDXS
MSS
MSS
Q4 25
$147.8M
$75.4M
Q3 25
$124.0M
$73.3M
Q2 25
$138.2M
$77.4M
Q1 25
$128.9M
$82.7M
Q4 24
$149.0M
$82.7M
Q3 24
$148.2M
$82.1M
Q2 24
$132.0M
$82.4M
Q1 24
$149.6M
$44.2M
Debt / Equity
CDXS
CDXS
MSS
MSS
Q4 25
0.79×
0.22×
Q3 25
1.03×
0.26×
Q2 25
0.71×
0.22×
Q1 25
0.59×
Q4 24
0.43×
Q3 24
0.39×
0.23×
Q2 24
0.46×
0.24×
Q1 24
0.35×
0.19×

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
MSS
MSS
Operating Cash FlowLast quarter
$20.1M
$-1.7M
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.

Operating Cash Flow
CDXS
CDXS
MSS
MSS
Q4 25
$20.1M
$-1.7M
Q3 25
$-7.7M
$1.1M
Q2 25
$-18.0M
$-1.6M
Q1 25
$-13.8M
$1.7M
Q4 24
$-16.5M
$1.1M
Q3 24
$-13.0M
$3.6M
Q2 24
$-12.2M
$-2.6M
Q1 24
$-7.8M
$-1.4M
Free Cash Flow
CDXS
CDXS
MSS
MSS
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
MSS
MSS
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
MSS
MSS
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
MSS
MSS
Q4 25
2.09×
Q3 25
Q2 25
Q1 25
1.66×
Q4 24
Q3 24
5.12×
Q2 24
Q1 24

Financial Flow Comparison

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

Revenue Breakdown by Segment

CDXS
CDXS

Segment breakdown not available.

MSS
MSS

Perishables$14.4M52%
Nonperishables$13.2M48%

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