Co-Diagnostics Q1 Revenue Declines
Ticker: CODX · Form: 10-Q · Filed: May 8, 2025 · CIK: 1692415
| Field | Detail |
|---|---|
| Company | Co-Diagnostics, Inc. (CODX) |
| Form Type | 10-Q |
| Filed Date | May 8, 2025 |
| Risk Level | medium |
| Sentiment | bearish |
Sentiment: bearish
Topics: revenue-decline, quarterly-report, medical-devices
TL;DR
CODX Q1 revenue down YoY, product revenue $1.75M vs $2.23M. Grant revenue also lower.
AI Summary
Co-Diagnostics, Inc. filed its 10-Q for the period ending March 31, 2025. The company reported product revenue of $1.75 million for Q1 2025, a decrease from $2.23 million in Q1 2024. Grant revenue also saw a decline, from $0.12 million in Q1 2024 to $0.08 million in Q1 2025. The company's total assets were $23.8 million as of March 31, 2025.
Why It Matters
The decline in revenue for Co-Diagnostics, Inc. in the first quarter of 2025 compared to the previous year may indicate challenges in product sales and grant funding, potentially impacting future growth and financial stability.
Risk Assessment
Risk Level: medium — The reported decrease in both product and grant revenue suggests potential financial headwinds for the company.
Key Numbers
- $1.75M — Q1 2025 Product Revenue (Represents a decrease from Q1 2024)
- $2.23M — Q1 2024 Product Revenue (Higher than Q1 2025 product revenue)
- $0.08M — Q1 2025 Grant Revenue (Represents a decrease from Q1 2024)
- $0.12M — Q1 2024 Grant Revenue (Higher than Q1 2025 grant revenue)
- $23.8B — Total Assets (As of March 31, 2025)
Key Players & Entities
- Co-Diagnostics, Inc. (company) — Filer of the 10-Q
- March 31, 2025 (date) — End of reporting period
- $1.75 million (dollar_amount) — Product revenue for Q1 2025
- $2.23 million (dollar_amount) — Product revenue for Q1 2024
- $0.12 million (dollar_amount) — Grant revenue for Q1 2024
- $0.08 million (dollar_amount) — Grant revenue for Q1 2025
- $23.8 million (dollar_amount) — Total assets as of March 31, 2025
FAQ
What was Co-Diagnostics, Inc.'s product revenue for the first quarter of 2025?
Co-Diagnostics, Inc.'s product revenue for the first quarter of 2025 was $1.75 million.
How does the Q1 2025 product revenue compare to Q1 2024?
The product revenue for Q1 2025 ($1.75 million) was lower than for Q1 2024 ($2.23 million).
What was the grant revenue for the first quarter of 2025?
The grant revenue for the first quarter of 2025 was $0.08 million.
How does the Q1 2025 grant revenue compare to Q1 2024?
The grant revenue for Q1 2025 ($0.08 million) was lower than for Q1 2024 ($0.12 million).
What were Co-Diagnostics, Inc.'s total assets as of March 31, 2025?
Co-Diagnostics, Inc.'s total assets as of March 31, 2025, were $23.8 million.
Filing Details
This Form 10-Q (Form 10-Q) was filed with the SEC on May 8, 2025 regarding Co-Diagnostics, Inc. (CODX).