📊 CODX Key Takeaways
Investment Thesis
Co-Diagnostics exhibits severe operational distress with collapsing profitability despite healthy gross margins, indicating fundamental business model failure. The company is burning substantial cash with negative operating cash flow of -$22.9M against minimal revenue of $358.6K, making the current trajectory unsustainable even with adequate liquidity reserves.
CODX Strengths
- Strong liquidity position with $11.4M cash and 3.81x current ratio
- Healthy gross margin of 77.7% indicates viable product economics at unit level
- Conservative capital structure with low debt-to-equity ratio of 0.05x
CODX Risks
- Catastrophic operating losses of -$23.6M on near-zero revenue indicates severe commercialization failure
- Negative operating cash flow of -$22.9M annually will deplete cash reserves in approximately 5 quarters at current burn rate
- Revenue essentially flat YoY with no growth trajectory visible; business appears stalled or in decline
- Operating margin of -6588% and net margin of -5898% are unsustainable and indicate the company cannot convert sales into profits
- Negative ROE of -53.1% and ROA of -47.3% demonstrate severe capital inefficiency
Key Metrics to Watch
- Quarterly revenue trend - any stabilization or decline acceleration
- Operating cash burn rate - critical to cash runway estimation
- Operating expense reduction progress - evidence of cost control efforts
- Path to profitability or strategic pivots - restructuring or business model changes
CODX Financial Metrics
💡 AI Analyst Insight
Strong liquidity with a 3.81x current ratio provides a solid financial cushion.
CODX Profitability Ratios
CODX vs Healthcare Sector
How Co-Diagnostics, Inc. compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
CODX Balance Sheet & Liquidity
CODX 5-Year Financial Trend
5-Year Trend Summary: Co-Diagnostics, Inc.'s revenue has declined by 91% over the 5-year period, indicating business contraction. The most recent EPS of $-1.20 indicates the company is currently unprofitable.
CODX Growth Metrics (YoY)
CODX Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $145.4K | -$5.9M | $-0.16 |
| Q2 2025 | $162.9K | -$7.5M | $-0.23 |
| Q1 2025 | $50.3K | -$7.5M | $-0.24 |
| Q3 2024 | $641.1K | -$5.8M | $-0.20 |
| Q2 2024 | $197.8K | -$5.8M | $-0.25 |
| Q1 2024 | $467.9K | -$5.8M | $-0.20 |
| Q3 2023 | $2.5M | -$1.4M | $-0.04 |
| Q2 2023 | $197.8K | -$2.7M | $-0.08 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
CODX Capital Allocation
CODX SEC Filings
Access official SEC EDGAR filings for Co-Diagnostics, Inc. (CIK: 0001692415)
📋 Recent SEC Filings
❓ Frequently Asked Questions about CODX
What is the AI rating for CODX?
Co-Diagnostics, Inc. (CODX) has an AI rating of STRONG SELL with 95% confidence, based on fundamental analysis of SEC EDGAR filings.
What are CODX's key strengths?
Strong liquidity position with $11.4M cash and 3.81x current ratio. Healthy gross margin of 77.7% indicates viable product economics at unit level.
What are the risks of investing in CODX?
Catastrophic operating losses of -$23.6M on near-zero revenue indicates severe commercialization failure. Negative operating cash flow of -$22.9M annually will deplete cash reserves in approximately 5 quarters at current burn rate.
What is CODX's revenue and growth?
Co-Diagnostics, Inc. reported revenue of $358.6K.
Does CODX pay dividends?
Co-Diagnostics, Inc. does not currently pay dividends.
Where can I find CODX SEC filings?
Official SEC filings for Co-Diagnostics, Inc. (CIK: 0001692415) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is CODX's EPS?
Co-Diagnostics, Inc. has a diluted EPS of $-0.62.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.