Codexis (CDXS) Gross Margin (2010 - 2026)
Codexis (CDXS) recorded quarterly Gross Margin of 86.46% in Q1 2026, down 8.75% quarter-over-quarter from 94.75% in Q4 2025, and up 2268.0% on a YoY basis from 3.65% in Q1 2025.
Codexis (CDXS) Gross Margin (2010 - 2026) Analysis & Trends
Codexis' Gross Margin history runs 17 years deep, the most recent figure standing at 86.46% for Q1 2026.
- In Q1 2026, Gross Margin rose 2268.0% year-over-year to 86.46%; the TTM figure through Mar 2026 stood at 88.9% (up 1733.0% YoY), while the FY2025 annual figure was 86.73%, up 1418.0% from the prior year.
- Gross Margin was 86.46% for Q1 2026 at Codexis, down from 94.75% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 94.75% in Q4 2025 to a low of 36.44% in Q2 2023.
- Historically, Gross Margin has averaged 69.16% across 5 years, with a median of 71.34% in 2025.
- The sharpest annual moves came in 2023 and 2024: Gross Margin sank 3422 bps in 2023, then soared 4021 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 57.29% in 2022, then fell by 25 bps to 42.76% in 2023, then soared by 94 bps to 82.97% in 2024, then increased by 14 bps to 94.75% in 2025, then fell by 9 bps to 86.46% in 2026.
- The last three Gross Margin figures came in at 86.46% (Q1 2026), 94.75% (Q4 2025), and 71.34% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alterity Therapeutics | 719,706.53 Bn | 719,706.50 Bn | - | - |
| 2 | Belite Bio | 55,800.00 Bn | 55,800.00 Bn | - | - |
| 3 | Quantum Biopharma | 18,182.30 Bn | 18,182.29 Bn | - | - |
| 4 | Legend Biotech | 3,154.00 Bn | 3,153.71 Bn | 242.10 Mn | 79.04% |
| 5 | Akari Therapeutics | 1,844.30 Bn | 1,844.29 Bn | - | - |
| 6 | Evaxion A | 1,567.96 Bn | 1,567.94 Bn | - | - |
| 7 | Psyence Biomedical | 251.43 Bn | 251.42 Bn | - | - |
| 8 | Vertex Pharmaceuticals | 112.56 Bn | 105.31 Bn | 2.59 Bn | 86.85% |
| 9 | Abivax | 94.37 Bn | 94.37 Bn | - | - |
| 10 | Codexis | 236.00 Mn | 170.86 Mn | 13.18 Mn | 86.46% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 86.46% |
| Dec 31, 2025 | 94.75% |
| Sep 30, 2025 | 71.34% |
| Jun 30, 2025 | 86.31% |
| Mar 31, 2025 | 63.78% |
| Dec 31, 2024 | 82.97% |
| Sep 30, 2024 | 66.36% |
| Jun 30, 2024 | 56.61% |
| Mar 31, 2024 | 71.56% |
| Dec 31, 2023 | 42.76% |
| Sep 30, 2023 | 75.76% |
| Jun 30, 2023 | 36.44% |
| Mar 31, 2023 | 65.17% |
| Dec 31, 2022 | 57.29% |
| Sep 30, 2022 | 71.61% |
| Jun 30, 2022 | 70.66% |
| Mar 31, 2022 | 75.89% |
| Dec 31, 2021 | 72.22% |
| Sep 30, 2021 | 81.32% |
| Jun 30, 2021 | 83.04% |