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FutureFuel vs Codexis: FF and CDXS compared
FutureFuel is the larger company: $78.7M of revenue in its latest quarter (Q2 2026) against $14.9M for Codexis (Q2 2026). FutureFuel is growing faster (+121% against -3% a year earlier). FutureFuel is more profitable, with an operating margin of 14.3% against -75.3%.
Where the money goes: FF and CDXS
FutureFuel (FF) · Q2 2026
FutureFuel, Q2 2026: revenue $78.7M (+121% year over year), operating margin 14.3%, net earnings $11.4M, operating cash flow $18.8M. The chart follows the revenue to costs, profit and cash.
Codexis (CDXS) · Q2 2026
Codexis, Q2 2026: revenue $14.9M (-3% year over year), operating margin -75.3%, net loss $12.0M, operating cash flow −$9.6M. The chart follows the revenue to costs, profit and cash.
| FutureFuel (FF) | Codexis (CDXS) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $78.7M | $14.9M |
| Revenue growth, Y/Y | +121% | -3% |
| Gross margin | 19.1% | — |
| Operating margin | 14.3% | -75.3% |
| Net earnings | $11.4M | −$12.0M |
| Net margin | 14.4% | -80.5% |
| Operating cash flow | $18.8M | −$9.6M |
| Free cash flow | $10.8M | — |
| Market value | — | $128M |
| Analysts’ mean target | — | $6.14 |
Where the revenue comes from
Codexis
- Product revenue: $13.2M (89%)
- Research and development revenue: $1.7M (11%)
Questions
Which is bigger, FutureFuel or Codexis?
FutureFuel is the larger company: $78.7M of revenue in its latest quarter (Q2 2026) against $14.9M for Codexis (Q2 2026).
Is FutureFuel or Codexis growing faster?
FutureFuel is growing faster (+121% against -3% a year earlier).
Which is more profitable, FutureFuel or Codexis?
FutureFuel is more profitable, with an operating margin of 14.3% against -75.3%.
More: FutureFuel earnings · how FutureFuel makes money · Codexis earnings · how Codexis makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 10, 2026; 10-Q filed Aug 11, 2026). Fiscal quarters can end on different dates. Not investment advice.