United States was Codexis’s largest region in fiscal 2025, bringing in $43.50M of $71.36M (61%).
| Geography | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Apac | $65.05M | — | — | $17.56M | ||||||||||||
| United States | $17.00M | $13.70M | — | $43.50M | ||||||||||||
| Americas | $17.00M | $13.73M | $21.28M | — | ||||||||||||
| Emea | — | $22.91M | $10.36M | — | ||||||||||||
| Europe | — | — | — | — | ||||||||||||
| Ireland | $37.20M | $500.00K | $1.80M | — | ||||||||||||
| China | — | — | $9.80M | — | ||||||||||||
| United Kingdom | — | — | — | — | ||||||||||||
| India | $8.80M | $5.70M | $7.30M | $5.70M | ||||||||||||
| Rest Of World | — | — | — | — | ||||||||||||
| Switzerland | $9.20M | $11.10M | $3.40M | $4.20M | ||||||||||||
| Singapore | $3.20M | $2.40M | $6.20M | $400.00K | ||||||||||||
| Other Asian Countries | — | — | — | — | ||||||||||||
| Others | — | — | — | — | ||||||||||||
| Total | $157.45M | $70.04M | $60.14M | $71.36M |
Codexis brought in $71.36M from its five regions in fiscal 2025, the year ended December 31, 2025. Codexis regrouped these regions after fiscal 2024, so the total does not compare directly with that year's $60.14M. United States was the largest at $43.50M (61.0%), ahead of Apac at $17.56M (24.6%) and India at $5.70M (8.0%). The other two regions brought in $4.60M combined.
Compared with fiscal 2024, Switzerland grew 23.5% to $4.20M, while India fell 21.9% to $5.70M.
Codexis stopped reporting Americas ($21.28M in fiscal 2024), Emea ($10.36M in fiscal 2024), China ($9.80M in fiscal 2024) and one other as separate regions.
Research & Development Revenue was Codexis’s largest product and service line in fiscal 2025, bringing in $44.36M of $70.39M (63%).
| Product and Service | FY 2016 | FY 2017 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Product Revenue | $116.68M | — | $42.91M | $36.79M | $26.03M | |||||||
| Research & Development Revenues | — | — | — | — | — | |||||||
| Product Sales | — | — | — | — | — | |||||||
| Research & Development Revenue | $21.91M | $5.00M | $27.44M | $22.56M | $44.36M | |||||||
| License & Service | — | — | — | — | — | |||||||
| Total | $138.59M | $5.00M | $70.34M | $59.35M | $70.39M |
Codexis brought in $70.39M from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 18.6% from $59.35M in fiscal 2024. Research & Development Revenue was the largest at $44.36M (63.0%), ahead of Product Revenue at $26.03M (37.0%).
Compared with fiscal 2024, Research & Development Revenue grew 96.6% to $44.36M, while Product Revenue fell 29.2% to $26.03M. From fiscal 2022 to 2025, combined revenue from these lines fell from $138.59M to $70.39M, a compound annual decline of 20.2%. Research & Development Revenue's share of the total rose from 15.8% to 63.0%.
Performance Enzymes was Codexis’s largest segment in fiscal 2020, bringing in $37.00M of $50.24M (74%).
| Statement Business Segments | FY 2017 | FY 2018 | FY 2019 | FY 2020 |
|---|---|---|---|---|
| Performance Enzymes | $14.84M | $22.86M | $26.83M | $37.00M |
| Novel Biotherapeutics | — | $13.48M | $10.30M | $13.24M |
| Total | $14.84M | $36.35M | $37.13M | $50.24M |
Codexis brought in $50.24M from its two segments in fiscal 2020, the year ended December 31, 2020. That was up 35.3% from $37.13M in fiscal 2019. Performance Enzymes was the largest at $37.00M (73.6%), ahead of Novel Biotherapeutics at $13.24M (26.4%).
Compared with fiscal 2019, Performance Enzymes grew 37.9% to $37.00M and Novel Biotherapeutics grew 28.5% to $13.24M.
Codexis began breaking out Novel Biotherapeutics in fiscal 2018, when it brought in $13.48M.
Codexis (CDXS) reports its revenue by geography, by product and service and by statement business segments. In fiscal 2025, United States was its largest region, bringing in $43.50M (61.0% of the total), followed by Apac at $17.56M (24.6%).
United States was Codexis' largest region in fiscal 2025, bringing in $43.50M, or 61.0% of the $71.36M total across its five regions.
Research & Development Revenue was Codexis' largest product and service line in fiscal 2025, bringing in $44.36M, or 63.0% of the $70.39M total across its two product and service lines.
Performance Enzymes was Codexis' largest segment in fiscal 2020, bringing in $37.00M, or 73.6% of the $50.24M total across its two segments.
Research & Development Revenue grew faster than Product Revenue in fiscal 2025, up 96.6% from $22.56M to $44.36M. Product Revenue fell 29.2% to $26.03M.
Every figure comes from Codexis' annual financial filings, as reported. Each line keeps the name Codexis gives it, and years follow its fiscal calendar.
Codexis' revenue by geography goes back to fiscal 2010, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.