---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-016376"
form_type: "8-K"
ticker: "CODX"
cik: "0001692415"
company_name: "Co-Diagnostics, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:20:36.510205+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Co-Diagnostics Q1 revenue drops 97% to $0.6M; net loss of $5.8M vs prior-year profit

## Summary
- Revenue of $0.6M, down from $22.7M a year ago due to lower COVID-19 test demand.
- Net loss of $5.8M ($0.20 diluted EPS loss) vs net income of $11.7M ($0.34 EPS) in Q1 2022.
- Operating loss of $10.0M vs operating income of $9.8M; adjusted EBITDA loss of $7.2M.
- Cash, cash equivalents, and marketable securities of $75.3M as of March 31, 2023.
- Co-Dx PCR Home platform clinical trials on track; FDA submission expected by end of 2023.

## SEC filing metadata
- accession: 0001493152-23-016376
- form_type: 8-K
- ticker: CODX
- cik: 0001692415
- company_name: Co-Diagnostics, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692415/000149315223016376/0001493152-23-016376-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692415/000149315223016376/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-016376
- JSON: https://secwatch.observer/filing/0001493152-23-016376.json
- Plain text: https://secwatch.observer/filing/0001493152-23-016376.txt

## Key facts
- Earnings Releases
  Co-Diagnostics, Inc. reported first quarter ended March 31, 2023 results: revenue $0.6 million, net income $5.8 million, EPS $0.20 per fully diluted share.
  - Period: first quarter ended March 31, 2023
  - Revenue: $0.6 million
  - Net income: $5.8 million
  - EPS: $0.20 per fully diluted share
  - Result: reported results
  source text: First Quarter 2023 Financial Results: ● Revenue of $0.6 million, down from $22.7 million during the prior year primarily due to lower global demand for the Logix SmartTM COVID-19 tests ● Gross profit of $0.1 million, representing 16.6% of consolidated revenue ● Operating loss of $10.0 million compared to operating income of $9.8 million a year ago, due to lower revenue and continued investments into research and development for the Co-Dx PCR HomeTM Platform ● Net loss of $5.8 million, compared to net income of $11.7 million in the prior year, representing EPS loss of $0.20 per fully diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692415/000149315223016376/0001493152-23-016376-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.