NASDAQ$CODX
Co-Diagnostics Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended March 31, 2024.
Co-Diagnostics announced its first quarter financial results, highlighting progress with new manufacturing facilities and plans for FDA submissions and test development.
- Cash, cash equivalents, and marketable securities totaled $50.0 million as of March 31, 2024.
- Opened new manufacturing facility in Salt Lake City.
- Continued facility expansion in India to enable in-house manufacturing.
- Committed to delivering a 510(k) submission to the FDA for new instrument and COVID-19 test kit.
Headline financials
Revenue & EPS history
Co-Diagnostics · Revenue · Quarterly
$468K
Revenue by segment
Co-Diagnostics · $146K total across 1 segment · Q1 2026
- Product$146K—100.0%
Forward guidance
Co-Diagnostics is focused on expanding manufacturing capabilities, submitting to the FDA, and developing new tests.
Tailwinds
- Expanding manufacturing facility in India.
- Planning clinical evaluations for multiplex test later this year.
- Committing to deliver a 510(k) submission to the FDA for new instrument and COVID-19 test kit in the near future.
- Driving development of TB, multiplex respiratory, and HPV tests throughout the remainder of the year.
- Believing in the disruptive and unique nature of new platform.
Headwinds
- PCR platform is subject to review by the FDA and/or other regulatory bodies and is not yet available for sale.
- PCR Pro instrument and Co-Dx COVID-19 Test are currently under review by the FDA.
- Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances.
- Actual results may differ materially from those contemplated or anticipated by such forward-looking statements.
- There can be no assurance that any of the anticipated results will occur on a timely basis or at all due to certain risks and uncertainties
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 2024
-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 | — | — | — |
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