Codexis vs Standard Biotools
Standard Biotools is the larger business, with $85.3m of revenue in fiscal 2025 against $70.4m for Codexis (1.2 times as much). Codexis grew faster (18.6% against -6.2%). Codexis kept more of each dollar of sales as profit: a net margin of -62.5% against -87.8%. Standard Biotools carries less debt relative to equity (0.1% against 83.4%).
| Latest fiscal year | CodexisCDXS, 2025 | Standard BiotoolsLAB, 2025 |
|---|---|---|
| Revenue | $70.4m | $85.3m |
| Revenue growth | 18.6% | -6.2% |
| Net income | −$44.0m | −$74.9m |
| Operating margin | -59.3% | -129.2% |
| Net margin | -62.5% | -87.8% |
| Return on equity | -74.9% | -16.7% |
| Free cash flow | −$23.8m | −$82.6m |
| Cash | $50.8m | $121m |
| Total debt | $42.2m | $299,000 |
| Debt to equity | 83.4% | 0.1% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $0 |
| Employees | 146 | 389 |
| Market value | $97.3m | $241m |
| Price vs our value range | — | — |
| Moat score | 23 (Weak) | 20 (Weak) |
| Insider trades, 12 months | 0 buys, 37 sales | 15 buys, 0 sales |