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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and SANDRIDGE ENERGY INC (SD). Click either name above to swap in a different company.
SANDRIDGE ENERGY INC is the larger business by last-quarter revenue ($39.4M vs $38.9M, roughly 1.0× CODEXIS, INC.). SANDRIDGE ENERGY INC runs the higher net margin — 54.9% vs 24.7%, a 30.3% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs 1.1%). CODEXIS, INC. produced more free cash flow last quarter ($19.6M vs $14.4M). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 14.1%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
SandRidge Energy, Inc. is a company engaged in hydrocarbon exploration in the Mid-Continent region of the United States. It is organized in Delaware and headquartered in Oklahoma City, Oklahoma.
CDXS vs SD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $39.4M |
| Net Profit | $9.6M | $21.6M |
| Gross Margin | 94.8% | — |
| Operating Margin | 27.1% | 38.5% |
| Net Margin | 24.7% | 54.9% |
| Revenue YoY | 81.3% | 1.1% |
| Net Profit YoY | 192.5% | 23.1% |
| EPS (diluted) | $0.13 | $0.59 |
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 | $39.4M | ||
| Q3 25 | $8.6M | $39.8M | ||
| Q2 25 | $15.3M | $34.5M | ||
| Q1 25 | $7.5M | $42.6M | ||
| Q4 24 | $21.5M | $39.0M | ||
| Q3 24 | $12.8M | $30.1M | ||
| Q2 24 | $8.0M | $26.0M | ||
| Q1 24 | $17.1M | $30.3M |
| Q4 25 | $9.6M | $21.6M | ||
| Q3 25 | $-19.6M | $16.0M | ||
| Q2 25 | $-13.3M | $19.6M | ||
| Q1 25 | $-20.7M | $13.0M | ||
| Q4 24 | $-10.4M | $17.6M | ||
| Q3 24 | $-20.6M | $25.5M | ||
| Q2 24 | $-22.8M | $8.8M | ||
| Q1 24 | $-11.5M | $11.1M |
| 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 24 | 71.6% | — |
| Q4 25 | 27.1% | 38.5% | ||
| Q3 25 | -220.3% | 37.8% | ||
| Q2 25 | -83.9% | 53.7% | ||
| Q1 25 | -271.6% | 28.6% | ||
| Q4 24 | -34.2% | 25.9% | ||
| Q3 24 | -129.0% | 28.3% | ||
| Q2 24 | -284.9% | 23.9% | ||
| Q1 24 | -69.6% | 27.8% |
| Q4 25 | 24.7% | 54.9% | ||
| Q3 25 | -228.1% | 40.1% | ||
| Q2 25 | -86.6% | 56.6% | ||
| Q1 25 | -274.3% | 30.6% | ||
| Q4 24 | -48.4% | 45.1% | ||
| Q3 24 | -160.8% | 84.8% | ||
| Q2 24 | -285.2% | 33.9% | ||
| Q1 24 | -67.4% | 36.7% |
| Q4 25 | $0.13 | $0.59 | ||
| Q3 25 | $-0.22 | $0.43 | ||
| Q2 25 | $-0.16 | $0.53 | ||
| Q1 25 | $-0.25 | $0.35 | ||
| Q4 24 | $-0.12 | $0.46 | ||
| Q3 24 | $-0.29 | $0.69 | ||
| Q2 24 | $-0.32 | $0.24 | ||
| Q1 24 | $-0.16 | $0.30 |
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 | $111.0M |
| Total DebtLower is stronger | $40.1M | — |
| Stockholders' EquityBook value | $50.5M | $510.9M |
| Total Assets | $147.8M | $644.0M |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.2M | $111.0M | ||
| Q3 25 | $58.7M | $101.2M | ||
| Q2 25 | $66.3M | $102.8M | ||
| Q1 25 | $59.8M | $99.7M | ||
| Q4 24 | $73.5M | $98.1M | ||
| Q3 24 | $90.3M | $92.7M | ||
| Q2 24 | $73.2M | $209.9M | ||
| Q1 24 | $85.5M | $207.0M |
| 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 | $510.9M | ||
| Q3 25 | $38.5M | $492.4M | ||
| Q2 25 | $55.6M | $480.2M | ||
| Q1 25 | $49.6M | $464.9M | ||
| Q4 24 | $66.9M | $460.5M | ||
| Q3 24 | $73.4M | $446.8M | ||
| Q2 24 | $61.4M | $424.8M | ||
| Q1 24 | $79.3M | $419.7M |
| Q4 25 | $147.8M | $644.0M | ||
| Q3 25 | $124.0M | $619.0M | ||
| Q2 25 | $138.2M | $602.3M | ||
| Q1 25 | $128.9M | $588.3M | ||
| Q4 24 | $149.0M | $581.5M | ||
| Q3 24 | $148.2M | $565.2M | ||
| Q2 24 | $132.0M | $529.6M | ||
| Q1 24 | $149.6M | $527.4M |
| 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 | $31.7M |
| Free Cash FlowOCF − Capex | $19.6M | $14.4M |
| FCF MarginFCF / Revenue | 50.3% | 36.6% |
| Capex IntensityCapex / Revenue | 1.3% | 43.8% |
| Cash ConversionOCF / Net Profit | 2.09× | 1.46× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | $41.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.1M | $31.7M | ||
| Q3 25 | $-7.7M | $25.3M | ||
| Q2 25 | $-18.0M | $22.9M | ||
| Q1 25 | $-13.8M | $20.3M | ||
| Q4 24 | $-16.5M | $26.0M | ||
| Q3 24 | $-13.0M | $20.8M | ||
| Q2 24 | $-12.2M | $11.4M | ||
| Q1 24 | $-7.8M | $15.7M |
| Q4 25 | $19.6M | $14.4M | ||
| Q3 25 | $-7.9M | $5.9M | ||
| Q2 25 | $-20.5M | $7.3M | ||
| Q1 25 | $-15.1M | $13.9M | ||
| Q4 24 | $-18.2M | $13.2M | ||
| Q3 24 | $-14.0M | $10.8M | ||
| Q2 24 | $-12.6M | $9.0M | ||
| Q1 24 | $-8.9M | $14.6M |
| Q4 25 | 50.3% | 36.6% | ||
| Q3 25 | -91.7% | 14.9% | ||
| Q2 25 | -133.6% | 21.0% | ||
| Q1 25 | -199.6% | 32.7% | ||
| Q4 24 | -85.0% | 33.8% | ||
| Q3 24 | -109.0% | 36.1% | ||
| Q2 24 | -157.5% | 34.5% | ||
| Q1 24 | -52.2% | 48.1% |
| Q4 25 | 1.3% | 43.8% | ||
| Q3 25 | 2.1% | 48.6% | ||
| Q2 25 | 16.4% | 45.2% | ||
| Q1 25 | 16.7% | 15.0% | ||
| Q4 24 | 8.3% | 32.9% | ||
| Q3 24 | 7.8% | 33.3% | ||
| Q2 24 | 5.0% | 9.4% | ||
| Q1 24 | 6.6% | 3.7% |
| Q4 25 | 2.09× | 1.46× | ||
| Q3 25 | — | 1.58× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 1.30× | ||
| Q1 24 | — | 1.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDXS
Segment breakdown not available.
SD
| Oil Reserves | $19.0M | 48% |
| Natural Gas Reserves | $11.6M | 30% |
| Natural Gas Liquids Reserves | $8.7M | 22% |
