CODXNasdaqSurgical & Medical Instruments & ApparatusUS GAAP · USD

Co-Diagnostics, Inc.

Co-Diagnostics, Inc. develops and commercializes molecular diagnostic technologies and tests, with a focus on PCR-based platforms used to detect infectious diseases and other targets. The company also appears to support commercialization through licensing, distribution, and related diagnostic product activities rather than a broad consumables or hospital-equipment model.

Liikevaihto0,6milj. USD
−84,1 %v/v
Liikevoitto (EBIT)−50,2milj. USD
−25,2 %v/v
EBIT-marginaali−8 058,8%
−7 035,1 %-yks.v/v
Nettotulos−46,9milj. USD
−24,6 %v/v
Vapaa kassavirta−29,8milj. USD
+0,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−100−50050100milj. USD2020: 75 milj. USD2020: EBIT 42 milj. USD20202021: 98 milj. USD2021: EBIT 46 milj. USD20212022: 34 milj. USD2022: EBIT −27 milj. USD20222023: 6,8 milj. USD2023: EBIT −43 milj. USD20232024: 3,9 milj. USD2024: EBIT −40 milj. USD20242025: 0,62 milj. USD2025: EBIT −50 milj. USD20250,62−50
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Molecular diagnostic tests60 %

PCR and other molecular assays used to detect infectious diseases and other biological targets.

Diagnostic technology platform20 %

Proprietary CoPrimer technology and related assay design capabilities that underpin test performance.

Licensing and commercialization15 %

Licensing, distribution, and partner-led commercialization of diagnostic products and technologies.

Other corporate activities5 %

Ancillary corporate and financing-related activities that support the business.

Tuotteet

Raportoitu · osuus liikevaihdosta
67,2%32,8%FY2025100 %
  • Products67,2 %
  • Grant32,8 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Customers are primarily laboratories, healthcare providers, distributors, and commercial partners that need molecular testing capability for infectious disease detection. The company may also sell or license through channel partners in markets where local commercialization and regulatory access are important. Demand is driven by the need for accurate, scalable, and relatively fast diagnostic results.

Clinical laboratories

Buy PCR-based assays and test kits to run diagnostic workflows for infectious disease detection.

Distributors and channel partners

Purchase or license products to commercialize them in local markets where the company lacks direct reach.

Healthcare providers

Use diagnostic tests to support patient care, triage, and treatment decisions.

Commercial licensing partners

License technology or assays to expand product availability and monetize the platform.

Public health and screening customers

Use molecular tests for surveillance, outbreak response, or high-volume screening.

Strategia

The company’s strategy appears centered on advancing its molecular diagnostic platform and expanding commercialization through partners, licensing, and selective market access. Recent filings also show capital-market activity, including an equity distribution agreement and advisory-share issuance, indicating a focus on funding development and expansion. Preserving liquidity while building product adoption is likely central to execution.

Commercialize diagnostic products through partnersLyhyt aikaväli

Partner-led distribution can extend reach without requiring a large direct-sales footprint.

Fund development and expansionLyhyt aikaväli

The company states it expects to use available funds to finance future development and expansion.

Strengthen diagnostic platform differentiationKeskipitkä aikaväli

Proprietary assay design technology can support product performance and licensing value.

Maantiede

Q1/2026

The company is based in the United States, but the available excerpts do not disclose a country-by-country revenue split or operating footprint. Its business model suggests exposure to international commercialization through distributors and partners, which can make market access, regulatory approvals, and local demand conditions important. Because no authoritative geographic revenue table was provided, the geography breakdown is left empty.

USA56 %
Other countries (US filing)44 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Co-Diagnostics faces the typical risks of a small molecular diagnostics company: commercialization uncertainty, regulatory dependence, and competition from larger diagnostic platforms. The filings also show ongoing financing reliance, which can dilute shareholders and signal that operating cash generation may be limited. Because the company depends on product adoption and partner execution, delays in market uptake or reimbursement can materially affect results.

Järjestetty vakavuuden mukaan
Financing dilution riskKorkea

The company has used equity-based financing and advisory-share issuance, which can dilute existing holders.

Kohdistuu: Common stock issuance and equity distribution agreements

Commercialization and adoption riskKorkea

Revenue depends on customers and partners adopting the company’s molecular tests and technology.

KohdistuuTest salesLicensingChannel partnerships
Regulatory and reimbursement riskKorkea

Diagnostic products often require approvals, clearances, and payer acceptance before scaling.

Kohdistuu: New assay launches and geographic expansion

Competitive pressureKeskitaso

The molecular diagnostics market includes larger, better-capitalized competitors with broader menus.

Kohdistuu: PCR and infectious disease testing

Kirjanpito

Harkinnanvaraiset erät
Share-based and equity-settled advisory compensation

500,000 shares issued for advisory services require fair-value measurement and non-cash expense recognition.

Vaikutus: Affects operating expenses, dilution, and equity balances

Revenue recognition for diagnostics and licensing

Different contract types may recognize revenue at shipment, delivery, acceptance, or over time.

Vaikutus: Affects quarterly revenue timing and comparability

Going-concern and liquidity assessment

The company states it expects to use available funds for development and expansion, indicating ongoing capital needs.

Vaikutus: Affects disclosure, financing assumptions, and valuation

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026