Revenue collapse to $0.2M, Q2 net loss $8.9M vs $2.7M a year ago

Co-Diagnostics, Inc.

2023-Q2 EPS reported -$0.50 revenue$799,763

Revenue $0.2M vs $5.0M in prior-year quarter as COVID test demand declined.
Operating loss of $12.0M increased from $4.1M on pre-commercialization investments in Co-Dx PCR Home platform.
Net loss $8.9M ($0.31 per share loss) compared to $2.7M loss ($0.08 per share) a year ago.
Cash and securities $69.1M; repurchased 0.4M shares at avg $1.51 for ~$0.6M.
Received $1.2M NIH RADx grant and over $2.3M from Gates Foundation for TB/HPV test development.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Co-Diagnostics, Inc. reported second quarter 2023 results: revenue $0.2 million, net income Net loss of $8.9 million, EPS EPS loss of $0.31 per fully diluted share.

Period: second quarter 2023
Revenue: $0.2 million
Net income: Net loss of $8.9 million
EPS: EPS loss of $0.31 per fully diluted share
Result: reported results

Exact text from the filing

the development of molecular diagnostic tests, announced today financial results for the quarter ended June 30, 2023. Second Quarter 2023 Financial Results: ● Revenue of $0.2 million, down from $5.0 million during the prior year primarily due to the anticipated decline in global demand for the Logix Smart® COVID-19 tests ● Operating expenses of $11.7

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Source: SEC EDGAR

accession 0001493152-23-027534

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