Co-Diagnostics Inc. Reports Q1 2025 Financial Results

SALT LAKE CITY, May 8, 2025 — Co-Diagnostics, Inc. (NASDAQ: CODX), a leader in molecular diagnostics, has released its financial results for the first quarter of 2025. The company, known for its patented platform in developing molecular diagnostic tests, reported a revenue of $0.1 million. This figure represents a significant decline from the $0.5 million recorded in the same quarter of the previous year, primarily attributed to the timing of grant revenue recognition. Notably, no grant revenue was recognized in Q1 2025.

Despite the revenue dip, Co-Diagnostics demonstrated a positive trend in managing its operating expenses, which decreased by 18.2% from the prior year’s first quarter, amounting to $8.6 million. This reduction in expenses contributed to a narrower operating loss of $8.6 million, compared to $10.3 million in Q1 2024. The company’s net loss also improved, standing at $7.5 million for the quarter, down from $9.3 million in the same period last year.

The financial performance for Q1 2025 also included a GAAP EPS of -$0.24, which surpassed expectations by $0.03. However, the revenue of $0.05 million fell short of projections by $0.14 million, as noted by analysts.

Market Context and Outlook

Co-Diagnostics operates within the Health Care Equipment & Supplies sector, focusing on the development and sale of reagents for diagnostic tests that analyze nucleic acid molecules. The company also markets diagnostic equipment as self-contained lab systems, with a global reach. Despite the recent financial results, Co-Diagnostics’ market capitalization stands at $12.25 million, with a share price of $0.35 as of May 5, 2025. The company’s stock has experienced significant volatility, with a 52-week high of $2.2299 on August 22, 2024, and a low of $0.2801 on April 8, 2025.

The company’s price-to-earnings ratio remains negative at -0.296799, reflecting the ongoing challenges in achieving profitability. However, the reduction in operating losses and improved net loss figures suggest a potential for stabilization and future growth.

As Co-Diagnostics continues to navigate the competitive landscape of molecular diagnostics, the company’s ability to manage expenses and optimize revenue streams will be crucial. Investors and industry observers will be closely monitoring the company’s strategic initiatives and market developments to gauge its long-term prospects.

For more detailed insights and updates, stakeholders are encouraged to visit Co-Diagnostics’ official website at www.codiagnostics.com .