Company / R&D Expense
CODEXIS, INC. R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$52.3M
FY2025
5-year range
$33.9M / $58.9M
FY2021-FY2025
Trend
+13.1%
vs FY2024
Sector context
Sector data unavailable
Latest sector comparison
What the data says
R&D Expense has fluctuated over the past 10 years, ranging from $21M in FY2017 to $59M in FY2023.
Based on SEC 10-K filings.
$52M in FY2025 with a 5-year CAGR of +11.8%.
Declined from $59M to $52M over the past 2 years.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +5.8%
- 5-Year CAGR
- +11.8%
- 10-Year CAGR
- -
Key checks
Key Insights
- 5-year CAGR of +11.8%, indicating consistent growth.
- In FY2025, r&d expense increased 13.1% year-over-year.
- Peak r&d expense was recorded in FY2023.
- Lowest r&d expense in the period was in FY2017.
Company context
Key Data Points
- Altman Z-Score -3.31 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $52.3M | +13.1% |
| FY2024 | $46.3M | -21.4% |
| FY2023 | $58.9M | +33.3% |
| FY2022 | $44.2M | +30.4% |
| FY2021 | $33.9M | +13.0% |
| FY2020 | $30.0M | +1.1% |
| FY2019 | $29.7M | +33.4% |
| FY2018 | $22.2M | +7.5% |
| FY2017 | $20.7M | -9.1% |
| FY2016 | $22.8M | -28.0% |
As of FY2025 · SEC 10-K · Updated Jun 24, 2026