Co-Diagnostics, Inc. (CODX) 10-Year Financial Performance & Capital Metrics

CODX • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentPoint-of-Care Diagnostics

AboutCo-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, tuberculosis, hepatitis B and C, human papilloma virus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications. The company also provides tests that identify genetic traits in plant and animal genomes; and portable PCR device designed to bring PCR to patients in point-of-care and at-home settings. In addition, it intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah.Show more

Revenue $4M -42.5%
EBITDA -$39M +6.7%
Net Income -$38M -6.5%
EPS (Diluted) -1.24 -3.3%
Gross Margin 74.48% +93.1%
EBITDA Margin -988.57% -62.4%
Operating Margin -1023.75% -63.3%
Net Margin -961.37% -85.3%
ROE -53.65% -52.2%
ROIC -47.11% -22.1%
Debt/Equity 0.04 +14.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 99 (top 1%)
✓Strong 5Y sales CAGR of 78.7%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y78.68%

3Y-65.8%

TTM-92.85%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.05%

EPS CAGR

10Y-

5Y-

3Y-

TTM28.89%

ROCE

10Y Avg-253.43%

5Y Avg9.72%

3Y Avg-38.65%

Latest-54.81%

Peer Comparison

Point-of-Care Diagnostics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
PAVMPAVmed Inc.	8.06M	8.75	17.64	22.15%	-217914.55%	-245.07%
SMLRSemler Scientific, Inc.	310.75M	20.33	3.96	-17.44%	130.8%	10.51%	0.00
BJDXBluejay Diagnostics, Inc.	1.18M	0.65	-0.02			-185.51%	0.04
HSCSHeartSciences Inc.	10.17M	3.20	-0.34	-76.61%	-1042.38%	-216.05%	14.55
LUCDLucid Diagnostics Inc.	163.87M	1.25	-1.19	79%	-8.6%	-404.1%	3.94
BMRABiomerica, Inc.	8.09M	2.68	-1.24	-1.92%	-90.29%	-90.76%	0.11
MDAISpectral AI, Inc.	49.41M	1.61	-1.89	63.83%	-70.64%
CODXCo-Diagnostics, Inc.	6.12M	2.92	-2.35	-42.53%	-63.36%	-80.8%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	10K	0	7.66K	39.91K	214.97K	74.55M	97.89M	34.22M	6.81M	3.92M
Revenue Growth %	-	-1%	-	4.21%	4.39%	345.8%	0.31%	-0.65%	-0.8%	-0.43%
Cost of Goods Sold+	43.14K	37.49K	302	9.39K	112.43K	16.59M	11.57M	5.48M	4.18M	999.12K
COGS % of Revenue	4.31%	-	0.04%	0.24%	0.52%	0.22%	0.12%	0.16%	0.61%	0.26%
Gross Profit+	-33.14K	-37.49K	7.36K	30.52K	102.54K	57.96M	86.31M	28.74M	2.63M	2.92M
Gross Margin %	-3.31%	-	0.96%	0.76%	0.48%	0.78%	0.88%	0.84%	0.39%	0.74%
Gross Profit Growth %	-	-0.13%	1.2%	3.15%	2.36%	564.24%	0.49%	-0.67%	-0.91%	0.11%
Operating Expenses+	1.98M	1.69M	4.57M	6.15M	6M	16.27M	40.25M	55.72M	45.33M	43M
OpEx % of Revenue	197.8%	-	596.64%	154.05%	27.89%	0.22%	0.41%	1.63%	6.65%	10.98%
Selling, General & Admin	1.13M	919K	3.52M	4.74M	4.56M	12.94M	24.95M	21.61M	21.14M	20.64M
SG&A % of Revenue	112.79%	-	459.74%	118.67%	21.21%	0.17%	0.25%	0.63%	3.1%	5.27%
Research & Development	806.91K	731.47K	1M	1.36M	1.37M	3.19M	14.96M	17.44M	22.96M	20.98M
R&D % of Revenue	80.69%	-	130.93%	34.1%	6.38%	0.04%	0.15%	0.51%	3.37%	5.36%
Other Operating Expenses	43.14K	0	45.76K	50.77K	65.9K	138.63K	335.36K	16.67M	1.23M	1.38M
Operating Income+	-1.97M	-1.69M	-4.56M	-6.12M	-5.89M	41.69M	46.06M	-26.98M	-42.71M	-40.08M
Operating Margin %	-196.8%	-	-595.68%	-153.29%	-27.42%	0.56%	0.47%	-0.79%	-6.27%	-10.24%
Operating Income Growth %	-0.9%	0.14%	-1.7%	-0.34%	0.04%	8.07%	0.1%	-1.59%	-0.58%	0.06%
EBITDA+	-1.92M	-1.65M	-4.52M	-6.07M	-5.83M	41.83M	46.4M	-25.7M	-41.48M	-38.7M
EBITDA Margin %	-192.48%	-	-589.66%	-152.01%	-27.11%	0.56%	0.47%	-0.75%	-6.09%	-9.89%
EBITDA Growth %	-0.89%	0.14%	-1.74%	-0.34%	0.04%	8.18%	0.11%	-1.55%	-0.61%	0.07%
D&A (Non-Cash Add-back)	43.14K	37.49K	46.06K	50.77K	65.9K	138.63K	335.36K	1.28M	1.23M	1.38M
EBIT	-1.97M	-1.69M	-6.65M	-6.14M	-6.09M	41.69M	46.06M	-11.59M	-42.71M	-40.08M
Net Interest Income+	-75.19K	0	-306.4K	-115.14K	-69.78K	97.22K	45.63K	704.04K	1.16M	1.09M
Interest Income	0	0	3.83K	19.8K	36.65K	97.22K	45.63K	704.04K	1.16M	1.09M
Interest Expense	75.19K	240.72K	310.23K	134.95K	106.44K	0	0	0	0	0
Other Income/Expense	-75.19K	-240.72K	-2.4M	-153.91K	-301.82K	875.42K	-429.16K	8.13M	4.6M	2.5M
Pretax Income+	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.57M	45.64M	-18.85M	-38.11M	-37.58M
Pretax Margin %	-204.32%	-	-908.28%	-157.14%	-28.82%	0.57%	0.47%	-0.55%	-5.59%	-9.6%
Income Tax+	0	0	0	-18.96K	0	90.54K	8.98M	-4.61M	-2.78M	57.37K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.8%	0.76%	0.93%	1%
Net Income+	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.48M	36.66M	-14.24M	-35.33M	-37.64M
Net Margin %	-204.32%	-	-908.28%	-157.14%	-28.82%	0.57%	0.37%	-0.42%	-5.19%	-9.61%
Net Income Growth %	-0.95%	0.06%	-2.61%	0.1%	0.01%	7.86%	-0.14%	-1.39%	-1.48%	-0.07%
Net Income (Continuing)	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.48M	36.66M	-14.24M	-35.33M	-37.64M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.18	-0.17	-0.63	-0.50	-0.36	1.52	1.23	-0.45	-1.20	-1.24
EPS Growth %	-0.38%	0.06%	-2.71%	0.21%	0.28%	5.22%	-0.19%	-1.37%	-1.67%	-0.03%
EPS (Basic)	-0.18	-0.17	-0.63	-0.50	-0.36	1.59	1.27	-0.45	-1.20	-1.24
Diluted Shares Outstanding	11.18M	11.18M	10.96M	12.48M	16.76M	28M	29.9M	31.48M	29.35M	30.34M
Basic Shares Outstanding	11.06M	11.06M	10.96M	12.48M	16.76M	26.72M	28.87M	31.48M	29.35M	30.34M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	151.93K	1.21M	4.45M	1.05M	1.58M	68.36M	115.12M	92.73M	62.14M	32.29M
Cash & Short-Term Investments	33.8K	998.74K	3.53M	950.24K	893.14K	47.31M	89.86M	81.26M	58.55M	29.75M
Cash Only	33.8K	998.74K	3.53M	950.24K	893.14K	42.98M	88.61M	22.97M	14.92M	2.94M
Short-Term Investments	0	0	0	0	0	4.34M	1.26M	58.29M	43.63M	26.81M
Accounts Receivable	0	3.18K	0	13.42K	131.38K	12.14M	20.91M	5.4M	330.88K	132.57K
Days Sales Outstanding	-	-	-	122.73	223.07	59.42	77.99	57.59	17.73	12.36
Inventory	0	0	9.07K	18.15K	197.17K	8M	2M	5.31M	1.66M	1.07M
Days Inventory Outstanding	-	-	10.96K	705.55	640.09	175.89	63.2	353.64	145.19	391.89
Other Current Assets	2K	0	0	0	0	547.22K	0	761.19K	1.6M	-1
Total Non-Current Assets+	219K	87.43K	210.45K	501.26K	631.07K	2.88M	44.91M	30.35M	33.18M	31.71M
Property, Plant & Equipment	112.68K	87.43K	165.57K	156.14K	196.83K	949.64K	1.93M	2.91M	6M	4.88M
Fixed Asset Turnover	0.09x	-	0.05x	0.26x	1.09x	78.51x	50.63x	11.75x	1.13x	0.80x
Goodwill	0	0	0	0	0	0	14.71M	0	0	0
Intangible Assets	0	0	0	0	0	0	27.2M	26.77M	26.4M	26.1M
Long-Term Investments	0	0	44.88K	345.12K	434.24K	1.93M	1M	672.68K	773.38K	731.07K
Other Non-Current Assets	106.33K	0	0	0	0	0	75K	0	0	1
Total Assets+	370.93K	1.3M	4.66M	1.55M	2.22M	71.24M	160.03M	123.09M	95.32M	64M
Asset Turnover	0.03x	-	0.00x	0.03x	0.10x	1.05x	0.61x	0.28x	0.07x	0.06x
Asset Growth %	0.43%	2.49%	2.6%	-0.67%	0.43%	31.16%	1.25%	-0.23%	-0.23%	-0.33%
Total Current Liabilities+	994.71K	3.85M	628.26K	2.35M	328.07K	4.51M	12.6M	3.87M	5.75M	7.32M
Accounts Payable	98.86K	104.93K	40.82K	148.97K	5.96K	598.32K	607.51K	952.3K	1.48M	3.29M
Days Payables Outstanding	836.41	1.02K	49.33K	5.79K	19.35	13.16	19.16	63.42	129.27	1.2K
Short-Term Debt	487.94K	2.95M	0	1.91M	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	10.79K	0	1.32K	305.31K	150K	0	362.45K	0
Other Current Liabilities	0	0	0	0	0	447.83K	5.77M	1.69M	1.42M	543.68K
Current Ratio	0.15x	0.31x	7.09x	0.45x	4.83x	15.16x	9.14x	23.94x	10.81x	4.41x
Quick Ratio	0.15x	0.31x	7.07x	0.44x	4.23x	13.38x	8.98x	22.57x	10.52x	4.27x
Cash Conversion Cycle	-	-	-	-4.96K	843.82	222.15	122.03	347.81	33.66	-799.21
Total Non-Current Liabilities+	523.6K	445K	183.55K	260K	150K	30K	12.96M	4.69M	3.56M	2.37M
Long-Term Debt	523.6K	445K	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	50.71K	2.15M	1.24M
Deferred Tax Liabilities	0	0	0	0	0	0	7.23M	2.42M	0	0
Other Non-Current Liabilities	0	0	0	260K	150K	30K	5.73M	2.22M	1.41M	1.14M
Total Liabilities	1.52M	4.29M	811.8K	2.61M	478.07K	4.54M	25.56M	8.57M	9.31M	9.69M
Total Debt+	1.01M	3.39M	0	1.91M	0	0	0	347.92K	2.99M	2.15M
Net Debt	977.73K	2.4M	-3.53M	958.34K	-893.14K	-42.98M	-88.61M	-22.63M	-11.93M	-784.37K
Debt / Equity	-	-	-	-	-	-	-	0.00x	0.03x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-1.03x	-1.91x	-	-	-
Interest Coverage	-26.17x	-7.01x	-14.71x	-45.33x	-55.37x	-	-	-	-	-
Total Equity+	-1.15M	-2.99M	3.85M	-1.06M	1.74M	66.7M	134.48M	114.52M	86.01M	54.31M
Equity Growth %	-9.28%	-1.61%	2.29%	-1.27%	2.64%	37.39%	1.02%	-0.15%	-0.25%	-0.37%
Book Value per Share	-0.10	-0.27	0.35	-0.08	0.10	2.38	4.50	3.64	2.93	1.79
Total Shareholders' Equity	-1.15M	-2.99M	3.85M	-1.06M	1.74M	66.7M	134.48M	114.52M	86.01M	54.31M
Common Stock	108.7K	9.88K	12.32K	12.92K	17.34K	28.56K	33.82K	34.75K	36.11K	37.9K
Retained Earnings	-3.53M	-5.46M	-12.42M	-18.69M	-24.97M	17.51M	54.17M	39.93M	4.6M	-33.04M
Treasury Stock	0	0	0	0	0	0	0	-14.21M	-15.58M	-15.58M
Accumulated OCI	0	-80.92K	0	0	0	0	0	293.14K	146.7K	418.44K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.53M	-1.31M	-3.21M	-4.08M	-5.53M	28.17M	41.08M	6.57M	-22.08M	-29.16M
Operating CF Margin %	-153.04%	-	-419.13%	-102.23%	-25.7%	0.38%	0.42%	0.19%	-3.24%	-7.45%
Operating CF Growth %	-0.65%	0.14%	-1.45%	-0.27%	-0.35%	6.1%	0.46%	-0.84%	-4.36%	-0.32%
Net Income	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.48M	36.66M	-14.24M	-35.33M	-37.64M
Depreciation & Amortization	43.14K	37.49K	45.76K	50.77K	65.9K	138.63K	335.36K	1.28M	1.23M	1.38M
Stock-Based Compensation	45.5K	69.56K	2.03M	1.33M	1.09M	2.74M	5.51M	7.54M	8.34M	5.43M
Deferred Taxes	23.02K	0	0	0	243.03K	-547.22K	930.08K	-4.81M	-2.42M	0
Other Non-Cash Items	9.66K	21.52K	2.17M	38.76K	91.43K	176.59K	544.46K	10.6M	460.32K	-1.08M
Working Capital Changes	391.48K	487.85K	-504.75K	769.77K	-818.28K	-16.82M	-2.9M	6.19M	5.64M	2.75M
Change in Receivables	0	0	-698.39K	-13.42K	-121.46K	-12.96M	-8.74M	14.92M	2.54M	186.39K
Change in Inventory	0	0	-9.07K	-9.09K	-179.01K	-7.92M	5.71M	-3.67M	413.14K	265.49K
Change in Payables	385.56K	473.06K	8.37K	85.95K	-226.66K	3.76M	-299.94K	-2.48M	1.77M	2.16M
Cash from Investing+	-110.27K	-12.24K	-189.31K	-380.34K	-435.25K	-5.82M	4.1M	-58.17M	15.39M	17.07M
Capital Expenditures	-118.47K	-12.24K	-129.31K	-41.34K	-113.25K	-774.4K	-669.46K	-1.43M	-1.37M	-748.35K
CapEx % of Revenue	11.85%	-	16.88%	1.04%	0.53%	0.01%	0.01%	0.04%	0.2%	0.19%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	8.2K	0	-60K	-339K	-322K	0	0	0	0	0
Cash from Financing+	1.46M	2.29M	5.94M	1.88M	5.9M	19.74M	450.4K	-14.03M	-1.36M	103.91K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	-1.09M	-153.84K	-592.76K	272.68K	450.4K	177.87K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-1.65M	-1.32M	-3.34M	-4.12M	-5.64M	27.39M	40.41M	5.14M	-23.45M	-29.9M
FCF Margin %	-164.88%	-	-436.01%	-103.26%	-26.23%	0.37%	0.41%	0.15%	-3.44%	-7.64%
FCF Growth %	-0.76%	0.2%	-1.52%	-0.23%	-0.37%	5.86%	0.48%	-0.87%	-5.56%	-0.28%
FCF per Share	-0.15	-0.12	-0.30	-0.33	-0.34	0.98	1.35	0.16	-0.80	-0.99
FCF Conversion (FCF/Net Income)	0.75x	0.68x	0.46x	0.65x	0.89x	0.66x	1.12x	-0.46x	0.62x	0.77x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	5.4M	4.5M	55.98K	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-1626.11%	-449.31%	-1826.4%	124.14%	36.45%	-11.44%	-35.24%	-53.65%
Return on Invested Capital (ROIC)	-	-	-	-4256.48%	-1188.83%	254.6%	99.3%	-29.38%	-38.59%	-47.11%
Gross Margin	-331.4%	-	96.06%	76.47%	47.7%	77.75%	88.17%	83.98%	38.57%	74.48%
Net Margin	-20431.68%	-	-90827.88%	-15714.27%	-2882%	56.98%	37.45%	-41.61%	-518.68%	-961.37%
Debt / Equity	-	-	-	-	-	-	-	0.00x	0.03x	0.04x
Interest Coverage	-26.17x	-7.01x	-14.71x	-45.33x	-55.37x	-	-	-	-	-
FCF Conversion	0.75x	0.68x	0.46x	0.65x	0.89x	0.66x	1.12x	-0.46x	0.62x	0.77x
Revenue Growth	-	-100%	-	420.9%	438.63%	34579.9%	31.3%	-65.04%	-80.09%	-42.53%

Revenue by Segment

	2020	2021	2022	2023	2024
Product Revenue	-	-	-	991.47K	770.05K
Product Revenue Growth	-	-	-	-	-22.33%

Revenue by Geography

	2020	2021	2022	2023	2024
World	29.69M	45.7M	9.55M	331.86K	391.84K
World Growth	-	53.92%	-79.11%	-96.52%	18.07%
UNITED STATES	-	-	24.67M	659.62K	378.21K
UNITED STATES Growth	-	-	-	-97.33%	-42.66%
Americas	-	52.19M	-	-	-
Americas Growth	-	-	-	-	-
United States	44.86M	-	-	-	-
United States Growth	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Co-Diagnostics, Inc. (CODX) reported $0.5M in revenue for fiscal year 2024.

Co-Diagnostics, Inc. (CODX) saw revenue decline by 42.5% over the past year.

Co-Diagnostics, Inc. (CODX) reported a net loss of $32.2M for fiscal year 2024.

Dividend & Returns

Co-Diagnostics, Inc. (CODX) has a return on equity (ROE) of -53.6%. Negative ROE indicates the company is unprofitable.

Co-Diagnostics, Inc. (CODX) had negative free cash flow of $31.8M in fiscal year 2024, likely due to heavy capital investments.

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Co-Diagnostics, Inc. (CODX) 10-Year Financial Performance & Capital Metrics

CODX • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentPoint-of-Care Diagnostics

Revenue $4M -42.5%
EBITDA -$39M +6.7%
Net Income -$38M -6.5%
EPS (Diluted) -1.24 -3.3%
Gross Margin 74.48% +93.1%
EBITDA Margin -988.57% -62.4%
Operating Margin -1023.75% -63.3%
Net Margin -961.37% -85.3%
ROE -53.65% -52.2%
ROIC -47.11% -22.1%
Debt/Equity 0.04 +14.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 99 (top 1%)
✓Strong 5Y sales CAGR of 78.7%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y78.68%

3Y-65.8%

TTM-92.85%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.05%

EPS CAGR

10Y-

5Y-

3Y-

TTM28.89%

ROCE

10Y Avg-253.43%

5Y Avg9.72%

3Y Avg-38.65%

Latest-54.81%

Peer Comparison

Point-of-Care Diagnostics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
PAVMPAVmed Inc.	8.06M	8.75	17.64	22.15%	-217914.55%	-245.07%
SMLRSemler Scientific, Inc.	310.75M	20.33	3.96	-17.44%	130.8%	10.51%	0.00
BJDXBluejay Diagnostics, Inc.	1.18M	0.65	-0.02			-185.51%	0.04
HSCSHeartSciences Inc.	10.17M	3.20	-0.34	-76.61%	-1042.38%	-216.05%	14.55
LUCDLucid Diagnostics Inc.	163.87M	1.25	-1.19	79%	-8.6%	-404.1%	3.94
BMRABiomerica, Inc.	8.09M	2.68	-1.24	-1.92%	-90.29%	-90.76%	0.11
MDAISpectral AI, Inc.	49.41M	1.61	-1.89	63.83%	-70.64%
CODXCo-Diagnostics, Inc.	6.12M	2.92	-2.35	-42.53%	-63.36%	-80.8%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	10K	0	7.66K	39.91K	214.97K	74.55M	97.89M	34.22M	6.81M	3.92M
Revenue Growth %	-	-1%	-	4.21%	4.39%	345.8%	0.31%	-0.65%	-0.8%	-0.43%
Cost of Goods Sold+	43.14K	37.49K	302	9.39K	112.43K	16.59M	11.57M	5.48M	4.18M	999.12K
COGS % of Revenue	4.31%	-	0.04%	0.24%	0.52%	0.22%	0.12%	0.16%	0.61%	0.26%
Gross Profit+	-33.14K	-37.49K	7.36K	30.52K	102.54K	57.96M	86.31M	28.74M	2.63M	2.92M
Gross Margin %	-3.31%	-	0.96%	0.76%	0.48%	0.78%	0.88%	0.84%	0.39%	0.74%
Gross Profit Growth %	-	-0.13%	1.2%	3.15%	2.36%	564.24%	0.49%	-0.67%	-0.91%	0.11%
Operating Expenses+	1.98M	1.69M	4.57M	6.15M	6M	16.27M	40.25M	55.72M	45.33M	43M
OpEx % of Revenue	197.8%	-	596.64%	154.05%	27.89%	0.22%	0.41%	1.63%	6.65%	10.98%
Selling, General & Admin	1.13M	919K	3.52M	4.74M	4.56M	12.94M	24.95M	21.61M	21.14M	20.64M
SG&A % of Revenue	112.79%	-	459.74%	118.67%	21.21%	0.17%	0.25%	0.63%	3.1%	5.27%
Research & Development	806.91K	731.47K	1M	1.36M	1.37M	3.19M	14.96M	17.44M	22.96M	20.98M
R&D % of Revenue	80.69%	-	130.93%	34.1%	6.38%	0.04%	0.15%	0.51%	3.37%	5.36%
Other Operating Expenses	43.14K	0	45.76K	50.77K	65.9K	138.63K	335.36K	16.67M	1.23M	1.38M
Operating Income+	-1.97M	-1.69M	-4.56M	-6.12M	-5.89M	41.69M	46.06M	-26.98M	-42.71M	-40.08M
Operating Margin %	-196.8%	-	-595.68%	-153.29%	-27.42%	0.56%	0.47%	-0.79%	-6.27%	-10.24%
Operating Income Growth %	-0.9%	0.14%	-1.7%	-0.34%	0.04%	8.07%	0.1%	-1.59%	-0.58%	0.06%
EBITDA+	-1.92M	-1.65M	-4.52M	-6.07M	-5.83M	41.83M	46.4M	-25.7M	-41.48M	-38.7M
EBITDA Margin %	-192.48%	-	-589.66%	-152.01%	-27.11%	0.56%	0.47%	-0.75%	-6.09%	-9.89%
EBITDA Growth %	-0.89%	0.14%	-1.74%	-0.34%	0.04%	8.18%	0.11%	-1.55%	-0.61%	0.07%
D&A (Non-Cash Add-back)	43.14K	37.49K	46.06K	50.77K	65.9K	138.63K	335.36K	1.28M	1.23M	1.38M
EBIT	-1.97M	-1.69M	-6.65M	-6.14M	-6.09M	41.69M	46.06M	-11.59M	-42.71M	-40.08M
Net Interest Income+	-75.19K	0	-306.4K	-115.14K	-69.78K	97.22K	45.63K	704.04K	1.16M	1.09M
Interest Income	0	0	3.83K	19.8K	36.65K	97.22K	45.63K	704.04K	1.16M	1.09M
Interest Expense	75.19K	240.72K	310.23K	134.95K	106.44K	0	0	0	0	0
Other Income/Expense	-75.19K	-240.72K	-2.4M	-153.91K	-301.82K	875.42K	-429.16K	8.13M	4.6M	2.5M
Pretax Income+	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.57M	45.64M	-18.85M	-38.11M	-37.58M
Pretax Margin %	-204.32%	-	-908.28%	-157.14%	-28.82%	0.57%	0.47%	-0.55%	-5.59%	-9.6%
Income Tax+	0	0	0	-18.96K	0	90.54K	8.98M	-4.61M	-2.78M	57.37K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.8%	0.76%	0.93%	1%
Net Income+	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.48M	36.66M	-14.24M	-35.33M	-37.64M
Net Margin %	-204.32%	-	-908.28%	-157.14%	-28.82%	0.57%	0.37%	-0.42%	-5.19%	-9.61%
Net Income Growth %	-0.95%	0.06%	-2.61%	0.1%	0.01%	7.86%	-0.14%	-1.39%	-1.48%	-0.07%
Net Income (Continuing)	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.48M	36.66M	-14.24M	-35.33M	-37.64M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.18	-0.17	-0.63	-0.50	-0.36	1.52	1.23	-0.45	-1.20	-1.24
EPS Growth %	-0.38%	0.06%	-2.71%	0.21%	0.28%	5.22%	-0.19%	-1.37%	-1.67%	-0.03%
EPS (Basic)	-0.18	-0.17	-0.63	-0.50	-0.36	1.59	1.27	-0.45	-1.20	-1.24
Diluted Shares Outstanding	11.18M	11.18M	10.96M	12.48M	16.76M	28M	29.9M	31.48M	29.35M	30.34M
Basic Shares Outstanding	11.06M	11.06M	10.96M	12.48M	16.76M	26.72M	28.87M	31.48M	29.35M	30.34M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	151.93K	1.21M	4.45M	1.05M	1.58M	68.36M	115.12M	92.73M	62.14M	32.29M
Cash & Short-Term Investments	33.8K	998.74K	3.53M	950.24K	893.14K	47.31M	89.86M	81.26M	58.55M	29.75M
Cash Only	33.8K	998.74K	3.53M	950.24K	893.14K	42.98M	88.61M	22.97M	14.92M	2.94M
Short-Term Investments	0	0	0	0	0	4.34M	1.26M	58.29M	43.63M	26.81M
Accounts Receivable	0	3.18K	0	13.42K	131.38K	12.14M	20.91M	5.4M	330.88K	132.57K
Days Sales Outstanding	-	-	-	122.73	223.07	59.42	77.99	57.59	17.73	12.36
Inventory	0	0	9.07K	18.15K	197.17K	8M	2M	5.31M	1.66M	1.07M
Days Inventory Outstanding	-	-	10.96K	705.55	640.09	175.89	63.2	353.64	145.19	391.89
Other Current Assets	2K	0	0	0	0	547.22K	0	761.19K	1.6M	-1
Total Non-Current Assets+	219K	87.43K	210.45K	501.26K	631.07K	2.88M	44.91M	30.35M	33.18M	31.71M
Property, Plant & Equipment	112.68K	87.43K	165.57K	156.14K	196.83K	949.64K	1.93M	2.91M	6M	4.88M
Fixed Asset Turnover	0.09x	-	0.05x	0.26x	1.09x	78.51x	50.63x	11.75x	1.13x	0.80x
Goodwill	0	0	0	0	0	0	14.71M	0	0	0
Intangible Assets	0	0	0	0	0	0	27.2M	26.77M	26.4M	26.1M
Long-Term Investments	0	0	44.88K	345.12K	434.24K	1.93M	1M	672.68K	773.38K	731.07K
Other Non-Current Assets	106.33K	0	0	0	0	0	75K	0	0	1
Total Assets+	370.93K	1.3M	4.66M	1.55M	2.22M	71.24M	160.03M	123.09M	95.32M	64M
Asset Turnover	0.03x	-	0.00x	0.03x	0.10x	1.05x	0.61x	0.28x	0.07x	0.06x
Asset Growth %	0.43%	2.49%	2.6%	-0.67%	0.43%	31.16%	1.25%	-0.23%	-0.23%	-0.33%
Total Current Liabilities+	994.71K	3.85M	628.26K	2.35M	328.07K	4.51M	12.6M	3.87M	5.75M	7.32M
Accounts Payable	98.86K	104.93K	40.82K	148.97K	5.96K	598.32K	607.51K	952.3K	1.48M	3.29M
Days Payables Outstanding	836.41	1.02K	49.33K	5.79K	19.35	13.16	19.16	63.42	129.27	1.2K
Short-Term Debt	487.94K	2.95M	0	1.91M	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	10.79K	0	1.32K	305.31K	150K	0	362.45K	0
Other Current Liabilities	0	0	0	0	0	447.83K	5.77M	1.69M	1.42M	543.68K
Current Ratio	0.15x	0.31x	7.09x	0.45x	4.83x	15.16x	9.14x	23.94x	10.81x	4.41x
Quick Ratio	0.15x	0.31x	7.07x	0.44x	4.23x	13.38x	8.98x	22.57x	10.52x	4.27x
Cash Conversion Cycle	-	-	-	-4.96K	843.82	222.15	122.03	347.81	33.66	-799.21
Total Non-Current Liabilities+	523.6K	445K	183.55K	260K	150K	30K	12.96M	4.69M	3.56M	2.37M
Long-Term Debt	523.6K	445K	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	50.71K	2.15M	1.24M
Deferred Tax Liabilities	0	0	0	0	0	0	7.23M	2.42M	0	0
Other Non-Current Liabilities	0	0	0	260K	150K	30K	5.73M	2.22M	1.41M	1.14M
Total Liabilities	1.52M	4.29M	811.8K	2.61M	478.07K	4.54M	25.56M	8.57M	9.31M	9.69M
Total Debt+	1.01M	3.39M	0	1.91M	0	0	0	347.92K	2.99M	2.15M
Net Debt	977.73K	2.4M	-3.53M	958.34K	-893.14K	-42.98M	-88.61M	-22.63M	-11.93M	-784.37K
Debt / Equity	-	-	-	-	-	-	-	0.00x	0.03x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-1.03x	-1.91x	-	-	-
Interest Coverage	-26.17x	-7.01x	-14.71x	-45.33x	-55.37x	-	-	-	-	-
Total Equity+	-1.15M	-2.99M	3.85M	-1.06M	1.74M	66.7M	134.48M	114.52M	86.01M	54.31M
Equity Growth %	-9.28%	-1.61%	2.29%	-1.27%	2.64%	37.39%	1.02%	-0.15%	-0.25%	-0.37%
Book Value per Share	-0.10	-0.27	0.35	-0.08	0.10	2.38	4.50	3.64	2.93	1.79
Total Shareholders' Equity	-1.15M	-2.99M	3.85M	-1.06M	1.74M	66.7M	134.48M	114.52M	86.01M	54.31M
Common Stock	108.7K	9.88K	12.32K	12.92K	17.34K	28.56K	33.82K	34.75K	36.11K	37.9K
Retained Earnings	-3.53M	-5.46M	-12.42M	-18.69M	-24.97M	17.51M	54.17M	39.93M	4.6M	-33.04M
Treasury Stock	0	0	0	0	0	0	0	-14.21M	-15.58M	-15.58M
Accumulated OCI	0	-80.92K	0	0	0	0	0	293.14K	146.7K	418.44K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.53M	-1.31M	-3.21M	-4.08M	-5.53M	28.17M	41.08M	6.57M	-22.08M	-29.16M
Operating CF Margin %	-153.04%	-	-419.13%	-102.23%	-25.7%	0.38%	0.42%	0.19%	-3.24%	-7.45%
Operating CF Growth %	-0.65%	0.14%	-1.45%	-0.27%	-0.35%	6.1%	0.46%	-0.84%	-4.36%	-0.32%
Net Income	-2.04M	-1.93M	-6.96M	-6.27M	-6.2M	42.48M	36.66M	-14.24M	-35.33M	-37.64M
Depreciation & Amortization	43.14K	37.49K	45.76K	50.77K	65.9K	138.63K	335.36K	1.28M	1.23M	1.38M
Stock-Based Compensation	45.5K	69.56K	2.03M	1.33M	1.09M	2.74M	5.51M	7.54M	8.34M	5.43M
Deferred Taxes	23.02K	0	0	0	243.03K	-547.22K	930.08K	-4.81M	-2.42M	0
Other Non-Cash Items	9.66K	21.52K	2.17M	38.76K	91.43K	176.59K	544.46K	10.6M	460.32K	-1.08M
Working Capital Changes	391.48K	487.85K	-504.75K	769.77K	-818.28K	-16.82M	-2.9M	6.19M	5.64M	2.75M
Change in Receivables	0	0	-698.39K	-13.42K	-121.46K	-12.96M	-8.74M	14.92M	2.54M	186.39K
Change in Inventory	0	0	-9.07K	-9.09K	-179.01K	-7.92M	5.71M	-3.67M	413.14K	265.49K
Change in Payables	385.56K	473.06K	8.37K	85.95K	-226.66K	3.76M	-299.94K	-2.48M	1.77M	2.16M
Cash from Investing+	-110.27K	-12.24K	-189.31K	-380.34K	-435.25K	-5.82M	4.1M	-58.17M	15.39M	17.07M
Capital Expenditures	-118.47K	-12.24K	-129.31K	-41.34K	-113.25K	-774.4K	-669.46K	-1.43M	-1.37M	-748.35K
CapEx % of Revenue	11.85%	-	16.88%	1.04%	0.53%	0.01%	0.01%	0.04%	0.2%	0.19%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	8.2K	0	-60K	-339K	-322K	0	0	0	0	0
Cash from Financing+	1.46M	2.29M	5.94M	1.88M	5.9M	19.74M	450.4K	-14.03M	-1.36M	103.91K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	-1.09M	-153.84K	-592.76K	272.68K	450.4K	177.87K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-1.65M	-1.32M	-3.34M	-4.12M	-5.64M	27.39M	40.41M	5.14M	-23.45M	-29.9M
FCF Margin %	-164.88%	-	-436.01%	-103.26%	-26.23%	0.37%	0.41%	0.15%	-3.44%	-7.64%
FCF Growth %	-0.76%	0.2%	-1.52%	-0.23%	-0.37%	5.86%	0.48%	-0.87%	-5.56%	-0.28%
FCF per Share	-0.15	-0.12	-0.30	-0.33	-0.34	0.98	1.35	0.16	-0.80	-0.99
FCF Conversion (FCF/Net Income)	0.75x	0.68x	0.46x	0.65x	0.89x	0.66x	1.12x	-0.46x	0.62x	0.77x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	5.4M	4.5M	55.98K	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-1626.11%	-449.31%	-1826.4%	124.14%	36.45%	-11.44%	-35.24%	-53.65%
Return on Invested Capital (ROIC)	-	-	-	-4256.48%	-1188.83%	254.6%	99.3%	-29.38%	-38.59%	-47.11%
Gross Margin	-331.4%	-	96.06%	76.47%	47.7%	77.75%	88.17%	83.98%	38.57%	74.48%
Net Margin	-20431.68%	-	-90827.88%	-15714.27%	-2882%	56.98%	37.45%	-41.61%	-518.68%	-961.37%
Debt / Equity	-	-	-	-	-	-	-	0.00x	0.03x	0.04x
Interest Coverage	-26.17x	-7.01x	-14.71x	-45.33x	-55.37x	-	-	-	-	-
FCF Conversion	0.75x	0.68x	0.46x	0.65x	0.89x	0.66x	1.12x	-0.46x	0.62x	0.77x
Revenue Growth	-	-100%	-	420.9%	438.63%	34579.9%	31.3%	-65.04%	-80.09%	-42.53%

Revenue by Segment

	2020	2021	2022	2023	2024
Product Revenue	-	-	-	991.47K	770.05K
Product Revenue Growth	-	-	-	-	-22.33%

Revenue by Geography

	2020	2021	2022	2023	2024
World	29.69M	45.7M	9.55M	331.86K	391.84K
World Growth	-	53.92%	-79.11%	-96.52%	18.07%
UNITED STATES	-	-	24.67M	659.62K	378.21K
UNITED STATES Growth	-	-	-	-97.33%	-42.66%
Americas	-	52.19M	-	-	-
Americas Growth	-	-	-	-	-
United States	44.86M	-	-	-	-
United States Growth	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Co-Diagnostics, Inc. (CODX) reported $0.5M in revenue for fiscal year 2024.

Co-Diagnostics, Inc. (CODX) saw revenue decline by 42.5% over the past year.

Co-Diagnostics, Inc. (CODX) reported a net loss of $32.2M for fiscal year 2024.

Dividend & Returns

Co-Diagnostics, Inc. (CODX) has a return on equity (ROE) of -53.6%. Negative ROE indicates the company is unprofitable.

Co-Diagnostics, Inc. (CODX) had negative free cash flow of $31.8M in fiscal year 2024, likely due to heavy capital investments.