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Dec 31, 2023
Co-Diagnostics Q4 2023 Earnings Report
Announced financial results for the full year ended December 31, 2023.
Key Takeaways
Co-Diagnostics reported progress towards strategic goals in Q4, including an Emergency Use Authorization submission to the FDA for their Co-Dx PCR Pro™ instrument, mobile app, and COVID-19 test. The company is also expanding production capacity and developing new tests.
Submitted an Emergency Use Authorization to the FDA for the Co-Dx PCR Pro™ instrument, mobile app, and COVID-19 test.
Expanded production capacity in Salt Lake City to include in-house manufacturing of Co-Primers™ to lower costs.
Building expanded capacity for test cup and instrument manufacturing lines in India.
Continuing the development of TB, multiplex respiratory, and HPV tests.
Revenue by Segment
Forward Guidance
Co-Diagnostics is excited for 2024 and plans to provide updates on their test development and platform.
Positive Outlook
- Continued development of TB tests.
- Continued development of multiplex respiratory tests.
- Continued development of HPV tests.
- Expansion of manufacturing capacity.
- Pursuing FDA submissions for Co-Dx PCR platform.
Challenges Ahead
- The Co-Dx PCR platform is subject to review by the FDA and/or other regulatory bodies and is not yet available for sale.
- Forward-looking statements are subject to inherent uncertainties, risks and changes in circumstances.
- Actual results may differ materially from those contemplated or anticipated by such forward-looking statements.
- There can be no assurance that any of the anticipated results will occur on a timely basis or at all due to certain risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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