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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
NETSTREIT Corp. is the larger business by last-quarter revenue ($57.1M vs $38.9M, roughly 1.5× CODEXIS, INC.). CODEXIS, INC. runs the higher net margin — 24.7% vs 10.0%, a 14.7% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs 24.3%). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 20.1%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
CDXS vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $57.1M |
| Net Profit | $9.6M | $5.7M |
| Gross Margin | 94.8% | — |
| Operating Margin | 27.1% | 34.1% |
| Net Margin | 24.7% | 10.0% |
| Revenue YoY | 81.3% | 24.3% |
| Net Profit YoY | 192.5% | 235.9% |
| EPS (diluted) | $0.13 | $0.32 |
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 | — | $57.1M | ||
| Q4 25 | $38.9M | $52.5M | ||
| Q3 25 | $8.6M | $48.3M | ||
| Q2 25 | $15.3M | $48.3M | ||
| Q1 25 | $7.5M | $45.9M | ||
| Q4 24 | $21.5M | $44.1M | ||
| Q3 24 | $12.8M | $41.4M | ||
| Q2 24 | $8.0M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | $9.6M | $1.3M | ||
| Q3 25 | $-19.6M | $618.0K | ||
| Q2 25 | $-13.3M | $3.3M | ||
| Q1 25 | $-20.7M | $1.7M | ||
| Q4 24 | $-10.4M | $-5.4M | ||
| Q3 24 | $-20.6M | $-5.3M | ||
| Q2 24 | $-22.8M | $-2.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 34.1% | ||
| Q4 25 | 27.1% | 2.6% | ||
| Q3 25 | -220.3% | 1.3% | ||
| Q2 25 | -83.9% | 6.8% | ||
| Q1 25 | -271.6% | 3.7% | ||
| Q4 24 | -34.2% | -12.3% | ||
| Q3 24 | -129.0% | -12.8% | ||
| Q2 24 | -284.9% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | 24.7% | 2.5% | ||
| Q3 25 | -228.1% | 1.3% | ||
| Q2 25 | -86.6% | 6.8% | ||
| Q1 25 | -274.3% | 3.7% | ||
| Q4 24 | -48.4% | -12.3% | ||
| Q3 24 | -160.8% | -12.8% | ||
| Q2 24 | -285.2% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.13 | $0.01 | ||
| Q3 25 | $-0.22 | $0.01 | ||
| Q2 25 | $-0.16 | $0.04 | ||
| Q1 25 | $-0.25 | $0.02 | ||
| Q4 24 | $-0.12 | $-0.07 | ||
| Q3 24 | $-0.29 | $-0.07 | ||
| Q2 24 | $-0.32 | $-0.03 |
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 | — |
| Total DebtLower is stronger | $40.1M | — |
| Stockholders' EquityBook value | $50.5M | $1.5B |
| Total Assets | $147.8M | $2.8B |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | $40.1M | $1.1B | ||
| Q3 25 | $39.7M | $1.1B | ||
| Q2 25 | $39.4M | $926.6M | ||
| Q1 25 | $29.2M | $913.3M | ||
| Q4 24 | $28.9M | $868.3M | ||
| Q3 24 | $28.6M | $778.7M | ||
| Q2 24 | $28.4M | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $50.5M | $1.4B | ||
| Q3 25 | $38.5M | $1.3B | ||
| Q2 25 | $55.6M | $1.3B | ||
| Q1 25 | $49.6M | $1.3B | ||
| Q4 24 | $66.9M | $1.3B | ||
| Q3 24 | $73.4M | $1.3B | ||
| Q2 24 | $61.4M | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $147.8M | $2.6B | ||
| Q3 25 | $124.0M | $2.5B | ||
| Q2 25 | $138.2M | $2.3B | ||
| Q1 25 | $128.9M | $2.3B | ||
| Q4 24 | $149.0M | $2.3B | ||
| Q3 24 | $148.2M | $2.2B | ||
| Q2 24 | $132.0M | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.79× | 0.76× | ||
| Q3 25 | 1.03× | 0.84× | ||
| Q2 25 | 0.71× | 0.70× | ||
| Q1 25 | 0.59× | 0.70× | ||
| Q4 24 | 0.43× | 0.65× | ||
| Q3 24 | 0.39× | 0.58× | ||
| Q2 24 | 0.46× | 0.55× |
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 | — |
| 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 | — | — | ||
| Q4 25 | $20.1M | $109.5M | ||
| Q3 25 | $-7.7M | $28.0M | ||
| Q2 25 | $-18.0M | $30.6M | ||
| Q1 25 | $-13.8M | $22.1M | ||
| Q4 24 | $-16.5M | $90.2M | ||
| Q3 24 | $-13.0M | $25.1M | ||
| Q2 24 | $-12.2M | $25.4M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 2.09× | 82.46× | ||
| Q3 25 | — | 45.27× | ||
| Q2 25 | — | 9.36× | ||
| Q1 25 | — | 13.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDXS
Segment breakdown not available.
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
