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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and Ouster, Inc. (OUST). Click either name above to swap in a different company.
Ouster, Inc. is the larger business by last-quarter revenue ($62.2M vs $38.9M, roughly 1.6× CODEXIS, INC.). On growth, Ouster, Inc. posted the faster year-over-year revenue change (106.6% vs 81.3%). CODEXIS, INC. produced more free cash flow last quarter ($19.6M vs $-37.2M). Over the past eight quarters, Ouster, Inc.'s revenue compounded faster (54.8% CAGR vs 51.0%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
CDXS vs OUST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $62.2M |
| Net Profit | $9.6M | — |
| Gross Margin | 94.8% | 60.2% |
| Operating Margin | 27.1% | 1.5% |
| Net Margin | 24.7% | — |
| Revenue YoY | 81.3% | 106.6% |
| Net Profit YoY | 192.5% | — |
| EPS (diluted) | $0.13 | $0.10 |
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 | $62.2M | ||
| Q3 25 | $8.6M | $39.5M | ||
| Q2 25 | $15.3M | $35.0M | ||
| Q1 25 | $7.5M | $32.6M | ||
| Q4 24 | $21.5M | $30.1M | ||
| Q3 24 | $12.8M | $28.1M | ||
| Q2 24 | $8.0M | $27.0M | ||
| Q1 24 | $17.1M | $25.9M |
| Q4 25 | $9.6M | — | ||
| Q3 25 | $-19.6M | $-21.7M | ||
| Q2 25 | $-13.3M | $-20.6M | ||
| Q1 25 | $-20.7M | $-22.0M | ||
| Q4 24 | $-10.4M | — | ||
| Q3 24 | $-20.6M | $-25.6M | ||
| Q2 24 | $-22.8M | $-23.9M | ||
| Q1 24 | $-11.5M | $-23.8M |
| Q4 25 | 94.8% | 60.2% | ||
| Q3 25 | 71.3% | 42.1% | ||
| Q2 25 | 86.3% | 45.2% | ||
| Q1 25 | 63.8% | 41.3% | ||
| Q4 24 | 83.0% | 43.8% | ||
| Q3 24 | 66.4% | 38.3% | ||
| Q2 24 | 56.6% | 33.7% | ||
| Q1 24 | 71.6% | 28.6% |
| Q4 25 | 27.1% | 1.5% | ||
| Q3 25 | -220.3% | -61.4% | ||
| Q2 25 | -83.9% | -76.5% | ||
| Q1 25 | -271.6% | -73.0% | ||
| Q4 24 | -34.2% | -85.1% | ||
| Q3 24 | -129.0% | -98.0% | ||
| Q2 24 | -284.9% | -93.6% | ||
| Q1 24 | -69.6% | -99.5% |
| Q4 25 | 24.7% | — | ||
| Q3 25 | -228.1% | -55.0% | ||
| Q2 25 | -86.6% | -58.8% | ||
| Q1 25 | -274.3% | -67.5% | ||
| Q4 24 | -48.4% | — | ||
| Q3 24 | -160.8% | -91.1% | ||
| Q2 24 | -285.2% | -88.4% | ||
| Q1 24 | -67.4% | -91.9% |
| Q4 25 | $0.13 | $0.10 | ||
| Q3 25 | $-0.22 | $-0.37 | ||
| Q2 25 | $-0.16 | $-0.38 | ||
| Q1 25 | $-0.25 | $-0.42 | ||
| Q4 24 | $-0.12 | $-0.46 | ||
| Q3 24 | $-0.29 | $-0.54 | ||
| Q2 24 | $-0.32 | $-0.53 | ||
| Q1 24 | $-0.16 | $-0.55 |
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 | $208.6M |
| Total DebtLower is stronger | $40.1M | — |
| Stockholders' EquityBook value | $50.5M | $261.7M |
| Total Assets | $147.8M | $349.5M |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.2M | $208.6M | ||
| Q3 25 | $58.7M | $244.5M | ||
| Q2 25 | $66.3M | $226.5M | ||
| Q1 25 | $59.8M | $168.2M | ||
| Q4 24 | $73.5M | $172.0M | ||
| Q3 24 | $90.3M | $151.4M | ||
| Q2 24 | $73.2M | $184.2M | ||
| Q1 24 | $85.5M | $187.8M |
| 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 | $261.7M | ||
| Q3 25 | $38.5M | $247.4M | ||
| Q2 25 | $55.6M | $221.0M | ||
| Q1 25 | $49.6M | $167.9M | ||
| Q4 24 | $66.9M | $180.9M | ||
| Q3 24 | $73.4M | $171.7M | ||
| Q2 24 | $61.4M | $170.6M | ||
| Q1 24 | $79.3M | $167.2M |
| Q4 25 | $147.8M | $349.5M | ||
| Q3 25 | $124.0M | $353.8M | ||
| Q2 25 | $138.2M | $321.8M | ||
| Q1 25 | $128.9M | $268.6M | ||
| Q4 24 | $149.0M | $276.1M | ||
| Q3 24 | $148.2M | $255.2M | ||
| Q2 24 | $132.0M | $309.9M | ||
| Q1 24 | $149.6M | $317.7M |
| 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 | $-15.4M |
| Free Cash FlowOCF − Capex | $19.6M | $-37.2M |
| FCF MarginFCF / Revenue | 50.3% | -59.8% |
| Capex IntensityCapex / Revenue | 1.3% | 35.0% |
| Cash ConversionOCF / Net Profit | 2.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | $-64.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.1M | $-15.4M | ||
| Q3 25 | $-7.7M | $-18.3M | ||
| Q2 25 | $-18.0M | $-1.3M | ||
| Q1 25 | $-13.8M | $-4.9M | ||
| Q4 24 | $-16.5M | $-2.6M | ||
| Q3 24 | $-13.0M | $-3.8M | ||
| Q2 24 | $-12.2M | $-21.6M | ||
| Q1 24 | $-7.8M | $-5.7M |
| Q4 25 | $19.6M | $-37.2M | ||
| Q3 25 | $-7.9M | $-20.0M | ||
| Q2 25 | $-20.5M | $-2.2M | ||
| Q1 25 | $-15.1M | $-5.4M | ||
| Q4 24 | $-18.2M | $-4.0M | ||
| Q3 24 | $-14.0M | $-4.3M | ||
| Q2 24 | $-12.6M | $-22.0M | ||
| Q1 24 | $-8.9M | $-7.1M |
| Q4 25 | 50.3% | -59.8% | ||
| Q3 25 | -91.7% | -50.7% | ||
| Q2 25 | -133.6% | -6.3% | ||
| Q1 25 | -199.6% | -16.6% | ||
| Q4 24 | -85.0% | -13.3% | ||
| Q3 24 | -109.0% | -15.4% | ||
| Q2 24 | -157.5% | -81.5% | ||
| Q1 24 | -52.2% | -27.4% |
| Q4 25 | 1.3% | 35.0% | ||
| Q3 25 | 2.1% | 4.3% | ||
| Q2 25 | 16.4% | 2.5% | ||
| Q1 25 | 16.7% | 1.7% | ||
| Q4 24 | 8.3% | 4.8% | ||
| Q3 24 | 7.8% | 2.0% | ||
| Q2 24 | 5.0% | 1.3% | ||
| Q1 24 | 6.6% | 5.3% |
| Q4 25 | 2.09× | — | ||
| 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.
