Co-Diagnostics (CODX) investor relations material

Executive summary

• Two diagnostic submissions are under regulatory review: the U.S. Flu A/B & RSV test and India’s point-of-care TB test; Vector Smart made its first international deployment.

• Q3 revenue rose YoY and operating expenses declined, but net loss widened and quarter-end cash was $714,803; management cited substantial doubt about continuing as a going concern.

Financial highlights

• Q3 revenue was $282,881 versus $145,380; gross loss was $20,463 versus gross profit of $119,095.

• Q3 operating expenses were $6.25 million versus $7.13 million; net loss was $6.31 million versus $5.89 million, primarily reflecting a lower income tax benefit, partly offset by lower operating expenses.

• 9M operating expenses were $21.73 million versus $23.90 million; net loss was $21.73 million versus $21.15 million.

• 9M operating cash use was $20.68 million versus $22.94 million.

Outlook and guidance

• FDA review continues for the Flu A/B & RSV dual 510(k) and CLIA Waiver by Application submission; the TB test is under CDSCO review in India.

• Near-term priorities include supporting regulatory reviews, advancing ReadyGo feasibility work and continuing Vector Smart growth; commercialization depends on regulatory clearance.

• Sales efforts are pursuing opportunities tied to a U.S. national initiative on tick- and mosquito-borne diseases.