Biodesix vs Codexis
Biodesix is the larger business, with $88.5m of revenue in fiscal 2025 against $70.4m for Codexis (1.3 times as much). Biodesix grew faster (24.1% against 18.6%). Biodesix kept more of each dollar of sales as profit: a net margin of -39.8% against -62.5%.
| Latest fiscal year | BiodesixBDSX, 2025 | CodexisCDXS, 2025 |
|---|---|---|
| Revenue | $88.5m | $70.4m |
| Revenue growth | 24.1% | 18.6% |
| Net income | −$35.3m | −$44.0m |
| Operating margin | -31.5% | -59.3% |
| Net margin | -39.8% | -62.5% |
| Return on equity | — | -74.9% |
| Free cash flow | −$23.5m | −$23.8m |
| Cash | $19.0m | $50.8m |
| Total debt | $50.0m | $42.2m |
| Debt to equity | — | 83.4% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 334 | 146 |
| Market value | $223m | $97.3m |
| Price vs our value range | — | — |
| Moat score | 12 (Weak) | 23 (Weak) |
| Insider trades, 12 months | 6 buys, 20 sales | 0 buys, 37 sales |