CODEXIS, INC. (CDXS)
Codexis, Inc. is a biotechnology firm dedicated to the discovery, development, and commercialization of enzymes and other protein-based solutions. Its diverse portfolio encompasses advanced biocatalyst products and related services, specialized chemical intermediates vital for subsequent processing steps, and proprietary biocatalyst panels and kits that empower clients to conduct effective chemistry screening. The company also extends its expertise through biocatalyst screening and sophisticated protein engineering services. Central to its operations is the proprietary CodeEvolver protein engineering technology platform. This innovative platform is instrumental in crafting and delivering high-performance biocatalysts capable of driving chemical transformations, thereby significantly enhancing the efficiency and productivity of manufacturing processes. Beyond industrial applications, the CodeEvolver platform is also leveraged for identifying novel biotherapeutic drug candidates for targeted human diseases, as well as for developing enzymes essential for molecular biology research and in vitro diagnostic applications. Primarily serving pharmaceutical manufacturers, Codexis distributes its products through its dedicated direct sales and business development teams across the United States and Europe. Established in 2002, the company maintains its headquarters in Redwood City, California.
Sector: Industrial Organic Chemicals
Industry: Biotechnology
Codexis, Inc.
NASDAQ:CDXSHealthcare · Biotechnology
-2.29%$1.28
AH Close$1.31+2.34%vs close
AH Close$1.31+2.34%vs close
Mkt Cap$140.17M
Float105.4M
O/S109.51M
Inst Own58.4%
SI4.6%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$70.39M
Net Income-$43.97M
Total Assets$147.8M
Free Cash Flow-$23.85M
Debt & Equity
Debt 59%
Equity 41%
Total Debt$73.21M
Total Equity$50.53M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in CDXS's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$147.8M
Liabilities$97.27M
Accounts Receivable$10.73M
Accounts Payable$1.55M
Inventory$1.82M
PP&E (Net)$43.52M
Goodwill$2.46M
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
| Revenue | $70.39M | $59.34M | $70.14M | $138.59M | $104.75M | $69.06M | $68.46M | $60.59M | $50.02M | $48.84M | $41.8M | $35.31M | $31.92M | $88.3M | $123.86M | $107.1M | $82.91M | $50.48M | $25.33M | $12.13M |
| YoY Growth | 18.6% | -15.4% | -49.4% | 32.3% | 51.7% | 0.9% | 13.0% | 21.1% | 2.4% | 16.8% | 18.4% | 10.6% | -63.8% | -28.7% | 15.6% | 29.2% | 64.2% | 99.3% | 108.9% | - |
| Cost of Revenue | $9.34M | $16.29M | $12.81M | $38.03M | $22.21M | $13.74M | $15.63M | $12.62M | $14.33M | $9.75M | $6.59M | $9.73M | $14.55M | $30.65M | $41.78M | $27.98M | $16.68M | $13.19M | $8.32M | $1.81M |
| Gross Profit | $61.05M | $43.06M | $57.33M | $100.56M | $82.55M | $55.31M | $52.83M | $47.97M | $35.7M | $39.08M | $35.22M | $25.58M | $17.37M | $57.65M | $82.08M | $79.12M | $66.23M | $37.29M | $17.01M | $10.32M |
| Gross Margin | 86.7% | 72.6% | 81.7% | 72.6% | 78.8% | 80.1% | 77.2% | 79.2% | 71.4% | 80.0% | 84.2% | 72.5% | 54.4% | 65.3% | 66.3% | 73.9% | 79.9% | 73.9% | 67.2% | 85.1% |
| Research and Development | $52.31M | $46.26M | $58.88M | $80.1M | $55.92M | $44.19M | $33.87M | $29.98M | $29.66M | $22.23M | $20.67M | $22.75M | $31.61M | $56.78M | $61.05M | $52.41M | $54.73M | $45.55M | $35.64M | $17.26M |
| Selling, General, and Administrative | $47.07M | $55.15M | $53.25M | $52.17M | $49.32M | $35.05M | $31.5M | $29.29M | $29.01M | $25.42M | $22.32M | $21.94M | $26.91M | $31.38M | $36.94M | $33.84M | $29.87M | $35.71M | $19.71M | $11.88M |
| Other | $0 | $165K | $13.27M | $3.17M | $0 | $0 | $0 | -$291K | -$92K | -$94K | -$168K | $0 | $0 | -$326K | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $99.38M | $101.58M | $125.4M | $135.44M | $105.24M | $79.23M | $65.38M | $59.27M | $58.67M | $47.65M | $42.99M | $44.69M | $58.51M | $88.16M | $97.99M | $86.25M | $84.6M | $81.26M | $55.36M | $29.14M |
| Operating Income (EBIT) | -$38.33M | -$58.52M | -$68.07M | -$34.88M | -$22.7M | -$23.92M | -$12.55M | -$11.29M | -$22.97M | -$8.56M | -$7.77M | -$19.11M | -$41.15M | -$30.51M | -$15.91M | -$7.12M | -$18.37M | -$43.97M | -$38.34M | -$18.82M |
| Operating Margin | -54.5% | -98.6% | -97.0% | -25.2% | -21.7% | -34.6% | -18.3% | -18.6% | -45.9% | -17.5% | -18.6% | -54.1% | -128.9% | -34.6% | -12.8% | -6.7% | -22.2% | -87.1% | -151.4% | -155.2% |
| Interest Expense | $4.81M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$675K | $529K | $2.04M | $2.37M | $2.53M | $724K |
| Interest Income | $2.63M | $3.67M | $4.17M | $1.44M | $459K | $405K | $1.29M | $671K | $147K | $60K | $19K | $18K | $60K | $252K | $273K | $166K | $180K | $1.54M | $1.49M | $742K |
| Other Income (Expense) | -$5.59M | -$6.72M | -$8.1M | $1.56M | $1.61M | $249K | $631K | $380K | $55K | -$34K | -$149K | -$216K | -$244K | -$74K | -$402K | -$1.03M | -$1.86M | -$827K | -$1.04M | $18K |
| Income Before Tax (EBT) | -$43.93M | -$65.24M | -$76.17M | -$33.32M | -$21.09M | -$23.67M | -$11.92M | -$10.91M | -$22.91M | -$8.6M | -$7.92M | -$19.33M | -$41.39M | -$30.59M | -$16.31M | -$8.16M | -$20.22M | -$44.8M | -$39.38M | -$18.8M |
| Income Tax Expense | $47K | $34K | $69K | $276K | $189K | $339K | $17K | -$37K | $81K | -$40K | -$338K | -$256K | -$87K | $270K | $241K | $384K | $66K | $327K | -$408K | -$127K |
| Net Income | -$43.97M | -$65.28M | -$76.24M | -$33.59M | -$21.28M | -$24.01M | -$11.94M | -$10.88M | -$23M | -$8.56M | -$7.58M | -$19.07M | -$41.3M | -$30.86M | -$16.55M | -$8.54M | -$20.29M | -$45.13M | -$38.98M | -$18.67M |
| Net Income Margin | -62.5% | -110.0% | -108.7% | -24.2% | -20.3% | -34.8% | -17.4% | -18.0% | -46.0% | -17.5% | -18.1% | -54.0% | -129.4% | -34.9% | -13.4% | -8.0% | -24.5% | -89.4% | -153.9% | -154.0% |
| Supplementary Data | ||||||||||||||||||||
| EPS | -0.50 | -0.89 | -1.12 | -0.51 | -0.33 | -0.40 | -0.21 | -0.21 | -0.50 | -0.21 | -0.19 | -0.50 | -1.08 | -0.84 | -0.46 | -0.35 | -7.74 | -16.63 | -14.36 | -6.88 |
| Diluted EPS | -0.50 | -0.89 | -1.12 | -0.51 | -0.33 | -0.40 | -0.21 | -0.21 | -0.50 | -0.21 | -0.19 | -0.50 | -1.08 | -0.84 | -0.46 | -0.35 | -7.74 | -16.63 | -14.36 | -6.88 |
| Weighted Average OS | 87.14M | 73.41M | 68.13M | 65.34M | 64.57M | 59.36M | 56.52M | 52.20M | 46.23M | 40.63M | 39.44M | 38.21M | 38.23M | 36.77M | 35.67M | 24.59M | 2.62M | 2.71M | 2.71M | 2.71M |
| EBITDA | -$33.87M | -$53.41M | -$44.88M | -$21.46M | -$15.14M | -$19.37M | -$7.99M | -$10.15M | -$21.93M | -$4.02M | -$2.36M | -$12.64M | -$31.07M | -$18.17M | -$4.84M | $681K | -$12.06M | -$37.87M | -$35.46M | -$15.69M |
| EBITDA Margin | -48.1% | -90.0% | -64.0% | -15.5% | -14.5% | -28.0% | -11.7% | -16.7% | -43.8% | -8.2% | -5.6% | -35.8% | -97.3% | -20.6% | -3.9% | 0.6% | -14.5% | -75.0% | -140.0% | -129.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
| Assets | ||||||||||||||||||||
| Current Assets | ||||||||||||||||||||
| Cash and Cash Equivalents | $50.79M | $19.26M | $65.12M | $113.98M | $116.8M | $149.12M | $90.5M | $53.04M | $31.22M | $19.24M | $23.27M | $26.49M | $22.13M | $32M | $25.76M | $72.4M | $31.79M | $21.9M | $55.08M | $32.25M |
| Short-Term Investments | $27.42M | $54.19M | $0 | $0 | $0 | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $3M | $13.52M | $27.72M | $0 | $23.78M | $15.23M | $29M | $0 |
| Cash and Short-Term Investments | $78.21M | $73.46M | $65.12M | $113.98M | $116.8M | $150.12M | $90.5M | $53.04M | $31.22M | $19.24M | $23.27M | $26.49M | $25.14M | $45.53M | $53.48M | $72.4M | $55.56M | $37.13M | $84.07M | $32.25M |
| Accounts Receivable | $10.73M | $18.88M | $19.93M | $40.87M | $37.65M | $29.29M | $20.16M | $13.5M | $11.8M | $5.92M | $7.33M | $3.87M | $5.41M | $7.54M | $18.92M | $15.33M | $7.25M | $6.19M | $6.43M | $2.75M |
| Inventory | $1.82M | $1.8M | $2.69M | $2.03M | $1.16M | $964K | $371K | $589K | $1.04M | $825K | $992K | $1.4M | $1.49M | $1.3M | $4.49M | $2.82M | $2.92M | $2.98M | $1.64M | $970K |
| Other Current Assets | $6.06M | $4.63M | $5.74M | $521K | $579K | $638K | $661K | $0 | $0 | $0 | $0 | $0 | $2.18M | $0 | $0 | $0 | $0 | $366K | $0 | $0 |
| Total Current Assets | $96.82M | $98.77M | $93.47M | $162.89M | $161.89M | $184.42M | $114.2M | $68.2M | $45.04M | $27.23M | $32.84M | $33.01M | $35.78M | $59.77M | $79.23M | $92.19M | $67.38M | $48.33M | $93.35M | $36.64M |
| Long-Term Assets | ||||||||||||||||||||
| Property, Plant & Equipment Net | $43.52M | $42.9M | $28.62M | $61.88M | $65.46M | $31.18M | $30.39M | $4.76M | $2.81M | $2.15M | $3.11M | $4M | $8.45M | $16.65M | $24.18M | $21.45M | $21.58M | $16.01M | $11.1M | $4.5M |
| Goodwill | $2.46M | $2.46M | $2.46M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.24M | $3.14M | $3.1M | $1.93M |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.81M | $6.19M | $9.56M | $12.93M | $16.44M | $20.16M | $928K | $1.79M | $2.78M | $2.32M |
| Long-Term Investments | $2.5M | $2.8M | $9.7M | $20.51M | $14M | $1.45M | $0 | $588K | $671K | $1.14M | $1.55M | $688K | $795K | $3.62M | $10.35M | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $2.5M | $2.08M | $2.31M | $1.87M | $1.79M | $1.36M | $1.24M | $2.5M | $1.86M | $1.88M | $1.1M | $1M | $1.02M | $3.75M | $2.48M | $4.26M | $5.9M | $1.61M | $3.21M | $1.26M |
| Total Long-Term Assets | $50.98M | $50.24M | $43.09M | $87.5M | $84.5M | $37.22M | $34.87M | $11.09M | $8.59M | $8.42M | $11.81M | $15.12M | $23.06M | $40.2M | $56.69M | $49.11M | $31.65M | $22.55M | $20.2M | $10.02M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $147.8M | $149.01M | $136.56M | $250.39M | $246.38M | $221.65M | $149.07M | $79.28M | $53.63M | $35.65M | $44.65M | $48.12M | $58.84M | $99.97M | $135.92M | $141.3M | $99.04M | $70.88M | $113.54M | $46.66M |
| Liabilities | ||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||
| Accounts Payable | $1.55M | $2.84M | $5.95M | $3.25M | $3M | $2.97M | $2.62M | $3.05M | $3.54M | $4.23M | $3.4M | $4.67M | $3.96M | $3.65M | $10.36M | $9.21M | $10M | $9.17M | $4.22M | $2.49M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $31K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $7.01M | $350K | $10.12M | $13.73M | $2.59M | $1.82M | $57K | $3.94M | $12.29M | $1.71M | $6.1M | $3.5M | $2M | $2.19M | $3.79M | $4.54M | $15.4M | $10.58M | $5.51M | $4.33M |
| Other Current Liabilities | $11.04M | $11.41M | $11.25M | $11.45M | $11.12M | $10.27M | $5M | $5.8M | $4.36M | $168K | $143K | $2.62M | $1.61M | $6.95M | $6.79M | $0 | $0 | $1.38M | $1.49M | $623K |
| Total Current Liabilities | $25.32M | $23.65M | $35.83M | $49.07M | $33.37M | $24.98M | $15.39M | $17.11M | $24.95M | $12.37M | $14.84M | $13.73M | $11.2M | $16.28M | $28.29M | $27.48M | $48.98M | $42.4M | $34.18M | $13.67M |
| Long-Term Liabilities | ||||||||||||||||||||
| Long-Term Debt | $40.1M | $28.91M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $885K | $1.31M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $360K | $100K | $640K | $16.88M | $3.75M | $2.97M | $1.99M | $3.35M | $1.5M | $1.07M | $3.12M | $3.81M | $1.11M | $1.3M | $1.49M | $5.07M | $9.34M | $13.63M | $18.86M | $3.15M |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$885K | -$1.31M | $0 | $0 | $0 | $0 | $0 | $0 | $132.75M | $132.75M | $77.51M |
| Other Long-Term Liabilities | $1.33M | $1.27M | $1.23M | $1.37M | $1.31M | $1.27M | $1.23M | $1.45M | $2.32M | $3.12M | $3.81M | $4.26M | $5.04M | $3.94M | $3.46M | $1.38M | $1.31M | $2.74M | $2.32M | $2.58M |
| Total Long-Term Liabilities | $71.95M | $58.44M | $14.12M | $56.53M | $48.62M | $26.56M | $28.17M | $4.86M | $4.13M | $4.18M | $6.93M | $8.08M | $6.16M | $5.24M | $4.94M | $6.46M | $13.22M | $157.6M | $166.83M | $85.75M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $97.27M | $82.08M | $49.95M | $105.6M | $81.99M | $51.54M | $43.56M | $21.98M | $29.08M | $16.55M | $21.77M | $21.81M | $17.36M | $21.52M | $33.23M | $33.94M | $62.2M | $200.01M | $201.01M | $99.42M |
| Stockholders' Equity | ||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $9K | $8K | $7K | $6K | $6K | $6K | $6K | $5K | $5K | $4K | $4K | $4K | $4K | $4K | $4K | $4K | $3K | $0 | $0 | $0 |
| Retained Earnings | -$606.78M | -$562.81M | -$497.53M | -$421.29M | -$387.7M | -$366.42M | -$342.41M | -$330.47M | -$315.06M | -$292.07M | -$283.51M | -$275.93M | -$256.86M | -$215.56M | -$184.7M | -$168.15M | -$159.61M | -$139.32M | -$94.19M | -$55.22M |
| Comprehensive Income & Other | $8K | $52K | $0 | $0 | $0 | $0 | $0 | $0 | -$472K | $0 | $405K | -$142K | -$32K | -$136K | -$407K | -$34K | -$252K | $139K | $537K | -$52K |
| Other Stockholders' Equity | $657.3M | $629.73M | $584.14M | $566.08M | $552.08M | $536.52M | $447.92M | $386.77M | $339.61M | $311.16M | $306.39M | $302.24M | $298.34M | $293.99M | $287.38M | $275.51M | $264.48M | $10.2M | $6.72M | $2.45M |
| Total Equity | $50.53M | $66.93M | $86.61M | $144.8M | $164.39M | $170.1M | $105.52M | $56.31M | $24.55M | $19.1M | $22.88M | $26.31M | $41.48M | $78.44M | $102.69M | $107.36M | $104.88M | -$129.12M | -$87.47M | -$52.77M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $147.8M | $149.01M | $136.56M | $250.39M | $246.38M | $221.65M | $149.07M | $78.28M | $53.63M | $35.65M | $44.65M | $48.12M | $58.84M | $99.97M | $135.92M | $141.3M | $167.08M | $70.88M | $113.54M | $46.66M |
| Supplementary Data | ||||||||||||||||||||
| Total Debt | $73.21M | $59.9M | $16.02M | $43.64M | $47.65M | $24.95M | $26.12M | $303K | $302K | $425K | $425K | $0 | $0 | $0 | $0 | $0 | $7.94M | $13.68M | $17.41M | $4.07M |
| Net Debt | $22.41M | $40.63M | -$49.09M | -$70.35M | -$69.14M | -$124.17M | -$64.38M | -$52.74M | -$30.92M | -$18.82M | -$22.85M | -$26.49M | -$22.13M | -$32M | -$25.76M | -$72.4M | -$23.84M | -$8.22M | -$37.67M | -$28.17M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
| Operating Activities | ||||||||||||||||||||
| Net Income | -$43.97M | -$65.28M | -$76.24M | -$33.59M | -$21.28M | -$24.01M | -$11.94M | -$10.88M | -$23M | -$8.56M | -$7.58M | -$19.07M | -$41.3M | -$30.86M | -$16.55M | -$8.54M | -$20.29M | -$45.13M | -$38.98M | -$18.67M |
| Depreciation & Amortization | $5.25M | $4.95M | $9.92M | $10.25M | $5.95M | $4.55M | $4.56M | $1.15M | $1.04M | $4.55M | $5.41M | $6.68M | $10.32M | $12.42M | $11.47M | $8.31M | $6.13M | $4.56M | $2.88M | $2.39M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$2.88M | -$900K | $0 | $0 | $9K | $0 | -$314K | $1.19M | -$2.81M | $3M | $16.6M | $174K | $998K | -$143K | $185K | $73K |
| Stock-Based Compensation | $9.62M | $13.09M | $9.97M | $14.53M | $11.59M | $7.73M | $6.94M | $7.89M | $7.09M | $5.67M | $5.13M | $4.62M | $4.39M | $5.08M | $9.43M | $8.74M | $4.82M | $3.46M | $1.26M | $64K |
| Changes in Working Capital: | ||||||||||||||||||||
| Accounts Receivable | $8.51M | $1.25M | $20.25M | -$3.23M | -$15.57M | -$12.32M | $2.52M | $960K | -$5.65M | $1.41M | -$3.46M | $1.59M | $1.63M | $11.37M | -$3.58M | -$8.09M | -$1.05M | $226K | -$3.15M | $369K |
| Inventory | -$19K | $886K | -$656K | -$869K | -$196K | -$593K | $217K | $447K | -$210K | $167K | $403K | $92K | -$185K | $3.19M | -$1.67M | $98K | $58K | -$1.38M | -$283K | -$354K |
| Accounts Payable | -$1.29M | -$2.57M | $2.29M | $207K | $268K | $101K | -$428K | -$524K | -$801K | $942K | -$1.27M | $713K | $308K | -$6.71M | $1.16M | -$791K | $189K | $4.94M | $1.17M | $1.41M |
| Other Working Capital | -$784K | -$11.59M | -$40.09M | $25.46M | $7.88M | $8.92M | -$14.96M | -$13.23M | $12.96M | -$6.83M | $1.23M | $3.8M | $222K | -$9.26M | -$1.48M | -$18.08M | -$166K | -$2.75M | $28.5M | $1.27M |
| Total Working Capital Change | $6.42M | -$12.02M | -$18.22M | $21.57M | -$7.62M | -$3.89M | -$12.65M | -$12.34M | $6.3M | -$4.32M | -$3.1M | $6.2M | $1.97M | -$1.42M | -$5.58M | -$26.86M | -$973K | $1.03M | $26.24M | $2.7M |
| Other Non-Cash Items | $3.31M | $9.85M | $21.93M | -$1.48M | -$19K | $55K | $525K | $91K | -$207K | -$42K | $32K | $698K | $4.43M | -$114K | -$15.86M | $1.79M | $627K | -$103K | $1.94M | $161K |
| Net Cash from Operating | -$19.38M | -$49.41M | -$52.64M | $11.28M | -$14.27M | -$16.46M | -$12.56M | -$14.09M | -$8.76M | -$2.7M | -$433K | $321K | -$23M | -$11.89M | -$490K | -$16.38M | -$8.69M | -$36.32M | -$6.47M | -$13.29M |
| Investing Activities | ||||||||||||||||||||
| Capital Expenditures | -$4.47M | -$4.3M | -$4.42M | -$8.31M | -$13.83M | -$3.75M | -$3.73M | -$2.77M | -$985K | -$888K | -$1.2M | -$302K | -$1.18M | -$2.93M | -$10.74M | -$27.7M | -$10.8M | -$8.54M | -$8.24M | -$1.1M |
| Acquisitions | $5K | $87K | $751K | $29K | $36K | $0 | $3K | $2K | $2K | $42K | $18K | $1.5M | $0 | $0 | $0 | -$20.69M | $0 | $0 | -$1.17M | $0 |
| Purchases of Investments | -$57.16M | -$90.23M | -$1.19M | -$5.3M | -$7.63M | -$2M | -$3K | $0 | $0 | $0 | -$76K | $167K | $0 | -$20.64M | -$52.56M | -$49.05M | -$38.43M | -$47.82M | -$42.27M | $0 |
| Sales of Investments | $85.13M | $37.47M | $440K | -$29K | -$36K | $0 | $62K | $0 | $0 | $4K | $0 | $3M | $13.41M | $40.28M | $14.54M | $72.3M | $27.98M | $62.14M | $13.77M | $1.5M |
| Other Investing Activities | $0 | $0 | -$440K | $29K | $36K | $0 | $3K | $2K | $77K | $0 | $0 | $282K | $1.04M | $0 | -$45K | $19.97M | $193K | $1.27M | -$1.3M | -$193K |
| Net Cash from Investing | $23.5M | -$56.98M | -$4.86M | -$13.58M | -$21.42M | -$5.75M | -$3.67M | -$2.77M | -$908K | -$842K | -$1.26M | $4.65M | $13.27M | $16.71M | -$48.81M | -$5.17M | -$21.06M | $7.06M | -$39.21M | $205K |
| Financing Activities | ||||||||||||||||||||
| Debt Repaid | -$9.89M | -$29.52M | - | - | - | $60K | $242K | $238K | $175K | - | - | - | - | - | - | $8.03M | $6.09M | $4.26M | -$13.32M | -$4.18M |
| Common Stock Issuance | $18.03M | $31.32M | $8.65M | $913K | $4.97M | $86.25M | $50M | $37.5M | $23.78M | $1.03M | $289K | $9K | $318K | $1.26M | $0 | $72.54M | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.81M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$318K | -$485K | -$1.49M | -$1.21M | -$5.38M | $4.2M | $1.31M | -$1.96M | -$1.52M | $0 | -$620K | -$465K | $0 | $2.58M | -$2.28M | -$842K | $378K | $3.3M | $55K |
| Net Cash from Financing | $27.93M | $60.52M | $8.17M | -$575K | $3.77M | $80.81M | $53.96M | $38.57M | $21.65M | -$490K | -$1.52M | -$611K | -$147K | $1.26M | $2.58M | $62.24M | $40M | -$3.89M | $68.38M | $39.71M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $165K | $85K | -$79K | -$371K | -$26K | $132K | $109K |
| Net Change in Cash | $32.05M | -$45.87M | -$49.33M | -$2.87M | -$31.92M | $58.6M | $37.74M | $21.71M | $11.98M | -$4.03M | -$3.21M | $4.36M | -$9.87M | $6.24M | -$46.63M | $40.61M | $9.88M | -$33.17M | $22.83M | $26.74M |
| Supplementary Data | ||||||||||||||||||||
| Operating Cash Flow | -$19.38M | -$49.41M | -$52.64M | $11.28M | -$14.27M | -$16.46M | -$12.56M | -$14.09M | -$8.76M | -$2.7M | -$433K | $321K | -$23M | -$11.89M | -$490K | -$16.38M | -$8.69M | -$36.32M | -$6.47M | -$13.29M |
| Capital Expenditure | -$4.47M | -$4.3M | -$4.42M | -$8.31M | -$13.83M | -$3.75M | -$3.73M | -$2.77M | -$985K | -$888K | -$1.2M | -$302K | -$1.18M | -$2.93M | -$10.74M | -$27.7M | -$10.8M | -$8.54M | -$8.24M | -$1.1M |
| Free Cash Flow | -$23.85M | -$53.72M | -$57.06M | $2.98M | -$28.09M | -$20.21M | -$16.29M | -$16.86M | -$9.75M | -$3.59M | -$1.63M | $19K | -$24.17M | -$14.82M | -$11.23M | -$44.08M | -$19.48M | -$44.85M | -$14.71M | -$14.39M |
| Cash at Beginning | $20.83M | $66.7M | $116.03M | $118.89M | $150.82M | $92.22M | $54.48M | $32.78M | $19.24M | $23.27M | $26.49M | $22.13M | $32M | $25.76M | $72.4M | $31.79M | $21.9M | $55.08M | $32.25M | $5.5M |
| Cash at End | $52.88M | $20.83M | $66.7M | $116.03M | $118.89M | $150.82M | $92.22M | $54.48M | $31.22M | $19.24M | $23.27M | $26.49M | $22.13M | $32M | $25.76M | $72.4M | $31.79M | $21.9M | $55.08M | $32.25M |