NASDAQ$CODX

Co-Diagnostics Inc · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Reported financial results for the quarter ended September 30, 2024.

Co-Diagnostics announced their Q3 2024 financial results, highlighting progress in their pipeline development and ongoing dialogue with the FDA regarding their 510(k) application.

  • Maintained active dialogue with the FDA throughout their substantive review of 510(k) application.
  • Advanced all tests in pipeline towards completion, regulatory submission, and commercialization.
  • Believe that COVID-19, tuberculosis, multiplex respiratory, and HPV multiplex tests on the Co-Dx PCR platform have the potential to increase access to state-of-the-art PCR diagnostics.
  • Team working hard to make mission a reality and drive test developments forward.

Headline financials

Total Revenue

$641K

Previous: $2.46M-73.9%
EPS

-$0.32

Previous: -$0.20-60.0%
Remeasurement Gain/Loss

-$11.9K

No prior period
Unrealized Gain/Loss

$37.2K

No prior period
Interest income, net

$263K

No prior period
Loss on JV investment

$12.7K

No prior period
Income tax provision

$22.2K

No prior period
Realized gain on investments

$293K

No prior period
Stock-based compensation

$1.05M

No prior period
Capital Expenditures

-$675K

Previous: -$901K+25.0%
Free Cash Flow

-$10.4M

Previous: -$6.88M-50.7%
Net Income

-$9.7M

Previous: -$5.98M-62.1%
Operating Income

-$10.2M

Previous: -$8.94M-14.5%
Gross Profit

$344K

Previous: $2.2M-84.4%
R&D Expense

$4.88M

Previous: $5.79M-15.7%
Stock-Based Comp

$1.05M

Previous: $2.17M-51.9%

Revenue & EPS history

Co-Diagnostics · Revenue · Quarterly

$641K

Q3 2024-73.9%vs Q3 2023
Beat estimate in 4 of 15 quarters(27%)
ActualEstimate

Revenue by segment

Co-Diagnostics · $146K total across 1 segment · Q1 2026

  • Product
    $146K

Forward guidance

Co-Diagnostics is making significant progress on tests and looks forward to providing regulatory and commercialization updates as they develop.

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 Q3 2024

Historical avgQ3 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

Earnings price reactions
QuarterReport dateReaction (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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