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
Valuation FY2025 figures against the last close
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.
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