Co-Diagnostics, Inc. Reports Second Quarter 2025 Financial Results

Original from: PR Newswire

Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced financial results for the quarter ended June 30, 2025.

Second Quarter 2025 Financial Results:

· Revenue of $0.2 million, which declined from $2.7 million during Q2 2024 primarily due to timing of grant revenue recognition. The Company did not recognize any grant revenue during the second quarter of 2025

· Operating expenses of approximately $8.2 million decreased by 19.1% from the prior year second quarter

· Operating loss of $8.1 million compared to operating loss of $7.7 million in Q2 2024

· Net loss of $7.7 million, representing a loss of $0.23 per fully diluted share, compared to net loss of $7.6 million representing a loss of $0.25 per fully diluted share in Q2 2024

· Adjusted EBITDA loss of $7.2 million

· Cash, cash equivalents, and marketable securities of $13.4 million as of June 30, 2025

Recent Business Highlights:

· Company remains on track to initiate clinical evaluations for all tests in Co-Dx PCR platform* pipeline before year-end, and is currently training clinical evaluation sites for enhanced COVID-19 test and expects to begin accepting trial participants imminently

Dwight Egan, Chief Executive Officer of Co-Diagnostics, remarked, "The investments made during the course of developing the Co-Dx PCR platform from the ground-up have all contributed to the robust manufacturing, development, and regulatory framework required to successfully bring it to market, and we are pleased to report that we remain on track to reach our 2025 development and regulatory milestones. The enhanced COVID-19 test is planned to be the first of four infectious disease PCR test panels submitted for regulatory clearance following completion of the clinical evaluations. We are confident in the quality of our real-time PCR point-of-care platform and believe that the results of our clinical evaluations will position us for strong regulatory submissions in multiple jurisdictions, as we move closer to our near- and long-term commercialization goals."

Source: Co-Diagnostics, Inc. Reports Second Quarter 2025 Financial Results