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Sep 30
Co-Diagnostics Q3 2025 Earnings Report
Co-Diagnostics reported a narrower net loss for Q3 2025, with significantly lower operating expenses and continued investment in R&D and strategic initiatives.
Key Takeaways
Co-Diagnostics posted lower revenue in Q3 2025, primarily due to reduced grant income, but improved its net loss position through cost reductions and strategic pivots, including an AI unit launch and international expansion.
Revenue declined to $145,380 due to a drop in grant income.
Operating expenses were reduced by 33% YoY, supporting lower losses.
Net loss narrowed to $5.89 million from $9.70 million a year earlier.
The company closed two equity offerings and launched strategic ventures in KSA and AI.
Co-Diagnostics
Co-Diagnostics
Co-Diagnostics Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
Co-Diagnostics aims to leverage its new AI platform, global ventures, and ongoing clinical work to drive future value despite short-term revenue headwinds.
Positive Outlook
- Established joint venture CoMira Diagnostics in KSA and MENA region
- Initiated new AI business unit to enhance diagnostic capabilities
- Completed $10.8M in capital raises through two RDOs
- Strategic options explored for CoSara JV, including SPAC path
- NIH grant-supported respiratory test entering clinical evaluation
Challenges Ahead
- Revenue declined significantly YoY with no grant revenue this quarter
- Net loss and EBITDA loss remain substantial despite cost cuts
- Continued reliance on external financing to fund operations
- Uncertainty around regulatory review and commercialization timelines
- Investment in JV and R&D continue to contribute to losses