Co-Diagnostics (CODX) Q2 2026 earnings summary

Executive summary

• Achieved major regulatory, clinical, and commercial milestones, including FDA submission for the Flu A/B & RSV multiplex assay and expansion of the molecular diagnostics platform.

• Advanced TB and Ebola diagnostic programs, with regulatory submissions targeted in India and the WHO, and presented platforms at global health summits.

• Expanded international commercialization through joint ventures in India and Saudi Arabia, new distribution agreements in Latin America and Europe, and manufacturing site approval in Saudi Arabia.

• Strengthened balance sheet with $3.0 million private placement and expanded public health applications, including Vector Smart and mosquito abatement initiatives.

• Appointed new Chief Scientific Officer to enhance regulatory and scientific leadership.

Financial highlights

• Q2 2026 revenue was $166,131, up from $163,000 year-over-year; six-month revenue was $312,084.

• Gross profit for Q2 2026 was $120,828, with a positive gross margin.

• Operating expenses decreased to $6.3 million from $8.2 million year-over-year, mainly due to lower G&A and R&D costs.

• Net loss for Q2 2026 was $6.3 million ($1.46/share), improved from $7.7 million ($7.00/share) year-over-year.

• Adjusted EBITDA loss improved to $5.8 million from $7.2 million year-over-year.

Outlook and guidance

• Management anticipates continued operating losses and cash use in the near term, with additional financing likely needed.

• Focus remains on advancing clinical pipeline, regulatory submissions, and commercialization, especially in MENA, India, and Latin America.

• Evaluating equity, debt, strategic transactions, and non-dilutive funding to support growth.