Co-Diagnostics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Co-Diagnostics, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Co-Diagnostics, Inc. (CODX) filed a Annual Report (10-K) with the SEC on March 14, 2024. Co-Diagnostics, Inc. filed its 2023 10-K report on March 14, 2024. The company's fiscal year ends on December 31st. The filing covers the period from January 1, 2023, to December 31, 2023. Co-Diagnostics, Inc. is incorporated in Utah. The company's SIC code is 3841 (Surgical & Medical Instruments & Apparatus).

Why It Matters

For investors and stakeholders tracking Co-Diagnostics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Co-Diagnostics' financial performance, operational activities, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: medium — Co-Diagnostics, Inc. shows moderate risk based on this filing. The company's reliance on a limited number of customers for a significant portion of its revenue presents a risk, as indicated by the customer concentration risk disclosures for both product and grant revenue.

Analyst Insight

Monitor revenue concentration and customer relationships closely in upcoming filings to assess potential impacts on financial stability.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-03-14 — Filing Date (Date as of change)
• 3841 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Co-Diagnostics, Inc. (company) — Filer name
• 0001493152-24-009955 (filing_id) — Accession number
• 20240314 (date) — Filing date
• 20231231 (date) — Period of report
• UT (location) — State of incorporation
• 3841 (industry_code) — Standard Industrial Classification
• SALT LAKE CITY (location) — Business address city
• CODX (ticker) — Ticker symbol

FAQ

Risk Factors

• Customer Concentration Risk [high — market]: The company's revenue is significantly dependent on a small number of customers, which could adversely affect financial results if these customers reduce or cease their business.

Industry Context

Co-Diagnostics, Inc. operates in the surgical and medical instruments and apparatus industry. This sector is characterized by innovation, regulatory oversight, and market demand for diagnostic tools.

Regulatory Implications

Companies in the medical device sector are subject to stringent regulations from bodies like the FDA, impacting product development, manufacturing, and market access.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
2. Analyze the company's revenue streams and customer base for potential concentration risks.
3. Assess the competitive landscape and regulatory environment impacting Co-Diagnostics' operations.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-14: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 2023 10-K. Comparative data from previous filings would be needed for a full analysis.

Key Financial Figures

• $0.001 — 9,668 shares of common stock, par value $0.001 per share, outstanding. Table of Cont
• $1.2 million — VID-19. To that effect, we were awarded $1.2 million in funding from the National Institutes
• $10.23 million — en awarded two grants in the amounts of $10.23 million and $987,000 by the Bill & Melinda Gate
• $987,000 b — ts in the amounts of $10.23 million and $987,000 by the Bill & Melinda Gates Foundation to

Filing Documents

• form10-k.htm (10-K) — 1609KB
• ex4-1.htm (EX-4.1) — 34KB
• ex21-1.htm (EX-21.1) — 5KB
• ex23-1.htm (EX-23.1) — 4KB
• ex23-2.htm (EX-23.2) — 3KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• ex97.htm (EX-97.1) — 45KB
• 0001493152-24-009955.txt (&nbsp;) — 7247KB
• codx-20231231.xsd (EX-101.SCH) — 48KB
• codx-20231231_cal.xml (EX-101.CAL) — 85KB
• codx-20231231_def.xml (EX-101.DEF) — 156KB
• codx-20231231_lab.xml (EX-101.LAB) — 495KB
• codx-20231231_pre.xml (EX-101.PRE) — 367KB
• form10-k_htm.xml (XML) — 1014KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 28 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 32 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 33 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 55 Item 9A.

Controls and Procedures

Controls and Procedures. 55 Item 9B. Other Information. 56 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 56 PART III Item 10. Directors, Executive Officers and Corporate Governance. 56 Item 11.

Executive Compensation

Executive Compensation. 61 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 64 Item 13. Certain Relationships and Related Transactions, and Director Independence. 65 Item 14. Principal Accountant Fees and Services. 65 PART IV Item 15. Exhibits and Financial Statement Schedules. 66 2 PART I Forward-Looking This Annual Report on Form 10-K contains "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical fact contained in this Annual Report and the documents incorporated by reference herein, including statements regarding future events, our future financial performance, business strategy, and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Although we do not make forward looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors which may affect our or our industry's actual results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Moreover, we operate in a highly regulated, very competitive, and rapidly changing environment. New risks emerge from time to time, and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements. We have based these forward-looking statements largely on our cur

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View this 10-K filing on SEC EDGAR