NASDAQ$CODX
Co-Diagnostics Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended June 30, 2023.
Co-Diagnostics reported its Q2 2023 financial results, noting a decline in COVID diagnostic kit sales but highlighted progress in expanding their PCR technology and advancements towards the FDA submission of the Co-Dx PCR Home platform.
- Awarded $1.2 million from NIH under the RADx® Tech program for the upper respiratory panel on the Co-Dx PCR Home platform.
- Received two grants from the Bill & Melinda Gates Foundation totaling $2.317 million for TB and HPV test development.
- Signed a lease and started building a new manufacturing facility with a capacity of up to 12 production lines, with the first lines expected to be operational by the end of 2023.
- Remains on track for FDA submission of the Co-Dx PCR Home platform and initial testing product by the end of the year.
Headline financials
Revenue & EPS history
Co-Diagnostics · Revenue · Quarterly
$198K
Revenue by segment
Co-Diagnostics · $146K total across 1 segment · Q1 2026
- Product$146K—100.0%
Forward guidance
The company anticipates completing development and submitting for FDA approval of the Co-Dx PCR Home platform by the end of the year, along with the expectation of having the first production lines operational in the new manufacturing facility by the same time.
Tailwinds
- Completion of development of Co-Dx PCR Home platform.
- FDA submission for approval of the Co-Dx PCR Home platform.
- First lines of production expected to be operational by end of 2023.
- Expansion of PCR technology reach.
- Making affordable, high-quality real-time PCR diagnostics available.
Headwinds
- Uncertainties related to forward-looking statements.
- Risks and changes in circumstances.
- Potential for actual results to differ materially.
- Reliance on forward-looking statements.
- Decline in COVID diagnostic kits sales.
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 Q2 2023
-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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