NASDAQ$CODX
Co-Diagnostics Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported solid first quarter with record revenue and diluted EPS.
Co-Diagnostics reported a strong first quarter in 2022, achieving record revenue of $22.7 million and a diluted EPS of $0.34.
- Delivered another solid quarter of growth following record results in 2021.
- Made substantial progress in the development of new Co-Dx PCR home diagnostic testing platform.
- Focused on completing development and FDA submission of the new platform.
- Strong balance sheet and liquidity continue to position the company well for additional investments in research and development.
Headline financials
Revenue & EPS history
Co-Diagnostics · Revenue · Quarterly
$22.7M
Revenue by segment
Co-Diagnostics · $146K total across 1 segment · Q1 2026
- Product$146K—100.0%
Forward guidance
The company is not providing quarterly guidance at this time and will reassess this position in the future due to uncertainty in forecasting Logix Smart COVID-19 Test sales.
Tailwinds
- Completing development and FDA submission for approval of the new Co-Dx at-home/point-of-care PCR testing device
- Forecast of strong demand for our broad product portfolio across all end markets
- Strong balance sheet and liquidity will continue to position us well for additional investments in research and development that will fund our future growth initiatives
Headwinds
- Ability to accurately forecast Logix Smart COVID-19 Test sales through the balance of the year has diminished
- Decreased mask mandates in the United States
- Continued emergence and spread of new variants
- Persistently low vaccination rates in many parts of the world
- It has become difficult to predict with any level of precision the cumulative impact of these and other factors on our future financial results
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2022
-5.3%
Avg return
Earnings day
-3.9%
Avg return
5 days after
-4.4%
Avg return
30 days after
34%
12 / 35 earnings
Positive
+21.0%
Q1 2022
Best reaction
-32.3%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.6% | +24.4% | — | |
| Q3 2025 | -11.4% | -8.1% | -8.3% | |
| Q2 2025 | +11.7% | +6.4% | +28.7% | |
| Q1 2025 | -2.4% | -2.8% | -15.5% | |
| Q4 2024 | -18.3% | -8.7% | -10.7% | |
| Q3 2024 | -5.8% | -3.3% | -29.7% | |
| Q2 2024 | +4.7% | +9.3% | +25.2% | |
| Q1 2024 | -9.0% | -8.2% | +10.7% | |
| Q4 2023 | -9.3% | -6.8% | +1.7% | |
| Q3 2023 | -7.3% | +9.8% | -0.8% | |
| Q2 2023 | -10.8% | -6.9% | -5.4% | |
| Q1 2023 | +0.8% | +4.9% | -20.9% | |
| Q4 2022 | -14.8% | -34.4% | -46.4% | |
| Q3 2022 | +8.6% | +9.7% | -17.4% | |
| Q2 2022 | -32.3% | -37.9% | -50.6% | |
| Q1 2022 | +21.0% | +33.8% | +35.1% | |
| Q4 2021 | -8.3% | +4.0% | -24.4% | |
| Q3 2021 | +7.8% | +13.1% | -2.3% | |
| Q2 2021 | +11.0% | +15.6% | +10.8% | |
| Q1 2021 | +15.7% | +20.4% | +20.8% | |
| Q4 2020 | -21.8% | -31.1% | -27.8% | |
| Q3 2020 | -20.6% | -26.0% | -28.8% | |
| Q2 2020 | -16.8% | -21.2% | -29.9% | |
| Q1 2020 | -27.1% | -19.5% | -33.5% | |
| Q4 2019 | -16.7% | -10.4% | +35.2% | |
| Q3 2019 | -4.3% | -3.9% | +7.1% | |
| Q2 2019 | -11.1% | -8.1% | -13.5% | |
| Q1 2019 | -14.2% | -20.3% | -25.7% | |
| Q4 2018 | +5.6% | +0.0% | -8.2% | |
| Q3 2018 | +2.3% | -9.3% | -13.1% | |
| Q2 2018 | -1.4% | -4.5% | -10.8% | |
| Q1 2018 | -8.1% | -7.0% | +129.7% | |
| Q4 2017 | -5.9% | -11.3% | -14.9% | |
| Q3 2017 | -3.2% | -6.8% | -43.4% | |
| Q2 2017 | +3.2% | +9.4% | +29.0% | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro