NASDAQ$CODX
Co-Diagnostics Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended June 30, 2024.
Co-Diagnostics reported their financial results for the second quarter of 2024, highlighting the progress made, including the 510(k) application submission to the FDA for their new instrument and COVID-19 test kit for over-the-counter use.
- Submitted a 510(k) application to the FDA for a new instrument and COVID-19 test kit intended for over-the-counter use.
- OTC-cleared medical devices are automatically categorized as CLIA-waived, making them suitable for point-of-care use.
- Preparing to pursue FDA clearance for the Co-Dx PCR COVID-19 test on the new instrument specifically for point-of-care use.
- Planning to begin clinical evaluations for a multiplex test later this year.
Headline financials
Revenue & EPS history
Co-Diagnostics · Revenue · Quarterly
$2.66M
Revenue by segment
Co-Diagnostics · $146K total across 1 segment · Q1 2026
- Product$146K—100.0%
Forward guidance
The company anticipates expanding the market and value of its new platform following the 510(k) submission and is looking forward to beginning clinical evaluations for their multiplex test later this year.
Tailwinds
- OTC clearance expands the market and value of the new platform.
- CLIA-waived categorization makes devices suitable for point-of-care use.
- Pursuing FDA clearance for Co-Dx PCR COVID-19 test for point-of-care use.
- Advancing the development of TB, multiplex respiratory, and HPV tests.
- Clinical evaluations for multiplex test expected to begin later this year.
Headwinds
- Co-Dx PCR platform is subject to review by the FDA and/or other regulatory bodies and is not yet available for sale.
- The Co-Dx 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 Q2 2024
-5.3%
Avg return
Earnings day
-3.9%
Avg return
5 days after
+0.6%
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% | +169.2% | |
| 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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