Co-Diagnostics FY2023 revenue drops 80% to $6.8M; net loss widens to $35.3M

Co-Diagnostics, Inc.

Revenue of $6.8M, down from $34.2M in 2022, driven by decline in COVID-19 test demand.
Net loss of $35.3M ($1.20 per diluted share) vs. $14.2M ($0.45) in prior year.
Operating loss of $42.7M; adjusted EBITDA loss of $33.0M.
Submitted EUA to FDA for Co-Dx PCR Pro platform and COVID-19 test in December 2023.
Appointed Ivory Chang as Chief Regulatory Affairs Officer; secured $12.6M in grants for TB, respiratory, HPV tests.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Co-Diagnostics, Inc. reported the full year ended December 31, 2023 results: revenue $6.8 million, net income Net loss of $35.3 million, EPS a loss of $1.20 per fully diluted share.

Period: the full year ended December 31, 2023
Revenue: $6.8 million
Net income: Net loss of $35.3 million
EPS: a loss of $1.20 per fully diluted share
Result: reported results

Exact text from the filing

the development of molecular diagnostic tests, today announced financial results for the full year ended December 31, 2023. Full Year 2023 Financial Results: ● Revenue of $6.8 million, down from $34.2 million during the prior year primarily due to the decline in global demand for the Logix Smart® COVID-19 tests. Grant revenue totaled $5.8 million while

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Co-Diagnostics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009950

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