Co-Diagnostics, Inc. CODX
Inc., a Utah corporation (the "Company" or "CODX"), develops, manufactures and sells reagents used for diagnostic
tests that function via the detection and/or analysis of nucleic acid molecules (DNA or RNA), including molecular tools for detection
of infectious diseases. Our diagnostics systems enable dependable, low-cost, molecular testing for organisms and genetic diseases by
automating or simplifying historically complex procedures in both the development and administration of tests. CODX's technical
Last close
0.55
2026-10-23
Market cap
$3.4M
2026-06-30 share count
52-week range
0.53 - 46.50
Valuation FY2025 figures against the last close
P/S5.5x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-35.25
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $622.5K | $3.9M | $6.8M | $34.2M | $97.9M | $74.6M | $215.0K | $39.9K | $7.7K | — |
| Cost of revenue | $222.4K | $999.1K | $4.2M | $5.5M | $11.6M | $16.6M | $112.4K | $9.4K | $302 | — |
| Gross profit | $400.1K | $2.9M | $2.6M | $28.7M | $86.3M | $58.0M | $102.5K | $30.5K | $7.4K | — |
| R&D | $19.1M | $21.0M | $23.0M | $17.4M | $15.0M | $3.2M | $1.4M | $1.4M | $1.0M | $731.5K |
| SG&A | $9.1M | $16.2M | $14.3M | $14.3M | $11.6M | $8.3M | $3.5M | $3.6M | $3.1M | $796.9K |
| Total operating expenses | $50.6M | $43.0M | $45.3M | $55.7M | $40.2M | $16.3M | $6.0M | $6.1M | $4.6M | $1.7M |
| Operating income | -$50.2M | -$40.1M | -$42.7M | -$27.0M | $46.1M | $41.7M | -$5.9M | -$6.1M | -$4.6M | -$1.7M |
| Interest expense | — | — | — | — | — | — | $106.4K | — | $310.2K | $240.7K |
| Pre-tax income | -$48.5M | -$37.6M | -$38.1M | -$18.8M | $45.6M | $42.6M | -$6.2M | -$6.3M | -$7.0M | -$1.9M |
| Income tax | $1.6M | $57.4K | $2.8M | $4.6M | $9.0M | $90.5K | — | — | — | — |
| Net income | -$47.0M | -$38.0M | -$35.3M | -$14.2M | $36.7M | $42.5M | -$6.2M | -$6.3M | -$7.0M | -$1.9M |
| EPS, basic | -35.25 | -37.22 | -1.20 | -0.45 | 1.27 | 1.59 | -0.37 | — | — | — |
| EPS, diluted | -35.25 | -37.22 | -1.20 | -0.45 | 1.23 | 1.52 | -0.37 | -0.50 | -0.63 | — |
| Shares, diluted (wtd. avg.) | 1.3M | 1.0M | 29.3M | 31.5M | 29.9M | 28.0M | 16.8M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $11.9M | $2.9M | $14.9M | $23.0M | $88.6M | $43.0M | $893.1K | $950.2K | $3.5M | $998.7K |
| Short-term investments | — | $26.8M | $43.6M | $58.3M | $1.3M | $4.3M | — | — | — | — |
| Receivables | $190.4K | $132.6K | $303.9K | $3.5M | $20.8M | $12.1M | $131.4K | $13.4K | — | — |
| Inventory | $992.4K | $1.1M | $1.7M | $5.3M | $2.0M | $8.0M | $197.2K | $18.2K | $9.1K | — |
| Total current assets | $13.7M | $32.3M | $62.1M | $92.7M | $115.1M | $67.8M | $1.6M | $1.1M | $4.5M | $1.2M |
| Property, plant and equipment | $2.3M | $2.8M | $3.0M | $2.5M | $1.9M | $949.6K | $196.8K | $156.1K | $165.6K | $87.4K |
| Goodwill | — | — | — | — | $14.7M | — | — | — | — | — |
| Other intangibles | $7.2M | $26.1M | $26.4M | $26.8M | $27.2M | — | — | — | — | — |
| Total assets | $24.7M | $63.6M | $95.3M | $123.1M | $160.0M | $71.2M | $2.2M | $1.6M | $4.7M | $1.3M |
| Accounts payable | $1.9M | $3.3M | $1.5M | $952.3K | $607.5K | $598.3K | $6.0K | $149.0K | $40.8K | $29.9K |
| Short-term debt | — | — | — | — | — | — | — | $1.9M | — | $2.6M |
| Total current liabilities | $3.5M | $7.3M | $5.7M | $3.9M | $12.6M | $4.1M | $328.1K | $2.4M | $628.3K | $3.8M |
| Long-term debt | — | — | — | — | — | — | — | $1.9M | — | — |
| Total liabilities | $4.1M | $9.7M | $9.3M | $8.6M | $25.6M | $4.5M | $478.1K | $2.6M | $811.8K | $4.3M |
| Retained earnings | -$80.4M | -$33.5M | $4.6M | $39.9M | $54.2M | $17.5M | -$25.0M | -$18.7M | -$12.4M | -$5.5M |
| Total equity | $20.6M | $53.9M | $85.6M | $114.5M | $134.5M | $66.7M | $1.7M | -$1.1M | $3.9M | -$3.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$29.1M | -$29.2M | -$22.1M | $6.6M | $41.1M | $28.2M | -$5.5M | -$4.1M | -$3.2M | -$1.3M |
| Depreciation and amortisation | — | $1.4M | $1.2M | $1.3M | $335.4K | $138.6K | $65.9K | $50.8K | $45.8K | $37.5K |
| Stock-based compensation | $2.2M | $5.4M | $8.3M | $7.5M | $5.5M | $2.7M | $1.1M | $1.3M | $2.0M | $69.6K |
| Capital expenditure | $700.0K | $748.4K | $1.4M | $1.4M | $669.5K | $774.4K | $113.2K | $41.3K | $129.3K | $12.2K |
| Investing cash flow | $26.3M | $17.1M | $15.4M | -$58.2M | $4.1M | -$5.8M | -$435.2K | -$380.3K | -$189.3K | -$12.2K |
| Financing cash flow | $11.8M | $103.9K | -$1.4M | -$14.0M | $450.4K | $19.7M | $5.9M | $1.9M | $5.9M | $2.3M |
| Buybacks | — | — | $1.4M | $14.2M | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-034021.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $7.7K | $39.9K | $215.0K | $74.6M | $97.9M | $34.2M | $6.8M | $3.9M | $622.5K |
| Gross profit | — | $7.4K | $30.5K | $102.5K | $58.0M | $86.3M | $28.7M | $2.6M | $2.9M | $400.1K |
| Net income | -$1.9M | -$7.0M | -$6.3M | -$6.2M | $42.5M | $36.7M | -$14.2M | -$35.3M | -$38.0M | -$47.0M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Material agreement signed Item 1.01
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3841
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SYK | STRYKER CORP | $117.81B | 36.6x | 11.2% |
| MMM | 3M CO | $89.46B | 28.9x | 1.5% |
| BSX | BOSTON SCIENTIFIC CORP | $66.22B | 23.6x | 19.9% |
| BDX | BECTON DICKINSON & CO | $54.18B | 34.2x | 8.2% |
| RMD | RESMED INC | $36.48B | 24.2x | 9.9% |
| DXCM | DEXCOM INC | $29.41B | 37.3x | 15.6% |
| MDLN | Medline Inc. | $29.20B | — | 11.5% |
| WST | WEST PHARMACEUTICAL SERVICES INC | $27.60B | 57.8x | 6.3% |