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Co-Diagnostics (CODX) investor relations material

Co-Diagnostics Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary13 Nov, 2025

Executive summary

  • Multiple strategic initiatives underway, including a planned SPAC transaction for the Indian joint venture CoSara, the launch of the CoMira joint venture in the MENA region, and a new AI business unit integrating diagnostics and predictive analytics.

  • Clinical evaluations for a multiplex upper respiratory test (Flu A, B, COVID-19, RSV) are imminent, supported by NIH grants, with additional tests for tuberculosis and HPV on track for clinical trials.

  • Recent direct offerings raised $10.8 million, strengthening the balance sheet and supporting commercialization efforts.

  • The company is developing a point-of-care PCR platform, with regulatory submission plans after withdrawing a previous FDA application.

  • In-silico analysis confirmed high reactivity of CHIKV primers against recent virus strains.

Financial highlights

  • Q3 2025 revenue was $0.1 million, down from $0.6 million in Q3 2024, mainly due to lower grant revenue.

  • Operating expenses decreased to $7.1 million from $10.6 million year-over-year, reflecting improved operational efficiency.

  • Net loss narrowed to $5.9 million ($0.16 per share) from $9.7 million ($0.32 per share) in Q3 2024.

  • Adjusted EBITDA loss improved to $6.3 million from $8.8 million year-over-year.

  • Ended the quarter with $11.4 million in cash, cash equivalents, and marketable securities.

Outlook and guidance

  • Focus remains on advancing the development pipeline, completing clinical evaluations, and preparing for regulatory submissions.

  • Multiple commercial launches anticipated in 2026, with ongoing development of new diagnostic tests.

  • Capital requirements to be met through a mix of equity, debt, grant funding, and operational efficiencies.

  • The company expects to continue generating operating losses and using cash in operations in the near term.

  • There is substantial doubt about the company's ability to continue as a going concern without additional financing.

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Frequently asked questions

Co-Diagnostics, Inc. is a molecular diagnostics company that develops and manufactures diagnostic testing products. The company's core focus is on creating and commercializing molecular technologies that detect infectious diseases, as well as other genetic conditions. Co-Diagnostics utilizes its proprietary CoPrimer technology to design highly accurate and cost-effective diagnostic tests. The company serves the healthcare sector, offering its products to laboratories, hospitals, and healthcare providers globally, with applications in human diagnostics, agriculture, and animal testing. The company is headquartered in Salt Lake City, Utah, and its shares are listed on the NASDAQ.

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