Codexis Q4 2025 Earnings: Revenue at $38.9 Million, 2026 Expectations Set at $74 Million

Codexis Inc. (NASDAQ:CDXS) reported Q4 2025 earnings with $38.9 million in revenue and $70.4 million for the full year, showing 18.7% YoY revenue growth and improved gross margin from 56% to 64%. Analysts maintained their ratings, with a Buy rating from Matt Hewitt of Craig-Hallum and a Hold rating from Brendan Smith of TD Cowen, offering 36% upside from the lowest price target of $2.