Is Codexis (CDXS) Halal to invest in?

Is Codexis (CDXS) Halal to invest in?

How much of Codexis’ revenue comes from haram?

Codexis uses computational technologies to develop enzymes and other proteins for pharmaceutical, food, and medical applications.

Codexis earns its revenue primarily from the following revenue sources: 

  • Product Revenue:

Includes revenue generated from selling biocatalysts, pharmaceutical intermediates, and Codex® biocatalysts panels and kits. 

  • Research and Development Revenue:

Includes revenue generated from exclusivity fees, research service fees, milestone payments, royalties, and optimization and screening fees for providing licenses and access to its technologies to other companies.

The contributions from each of Codexis’ revenue segments in their Q2 2021 report were as follows:

Practical Islamic Finance concludes:

None of Codexis’ revenue comes from anything inherently haram.

Does Codexis rely on interest to operate?

for period ended
Fiscal year
Fiscal year
Interest Income$382$405$1,287
Total Revenue$43,485$69,056$68,458
Interest Expense$63$156$656
Total Expenses$57,126$92,976$81,007
Interest Income / Revenue0.88%0.59%1.88%
Interest Expense / Total Expense0.11%0.17%0.81%
*Numbers in thousands, U.S. dollars
*Interest expense is included with other expense, net in income statement

Practical Islamic Finance concludes: 

Riba is used but not relied upon in Codexis’ operations.

What is Codexis’ Environmental, Social, and Governance (ESG) Impact?


No notable environmental highlights.


Codexis has a Glassdoor rating of 3.4 out of 5 from over 60 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies. 


No notable governance highlights.

Practical Islamic Finance concludes: 

Codexis has a net positive ESG impact. 

Comfort Rating 

From Codexis’ business, financial, and ESG reviews, Practical Islamic Finance rates Codexis stock as: 

Comfortable to invest in from a halal perspective.


Codexis 2020 Annual Report 

Codexis 2021 Q2 10Q 

Codexis Reviews 

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