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Dec 31, 2024
Co-Diagnostics Q4 2024 Earnings Report
Co-Diagnostics reported minimal revenue and a continued net loss in Q4 2024 as it focused on product development and regulatory preparations.
Key Takeaways
In Q4 2024, Co-Diagnostics generated $149,330 in revenue and posted an adjusted EPS of -$0.36. The company remained pre-commercial with limited product activity and continued development of its diagnostic platform.
Q4 revenue totaled $149,330, reflecting limited commercial activity.
Adjusted EPS was -$0.36, consistent with ongoing R&D investments.
Company focused on FDA re-submission preparation and test pipeline.
Cash and securities position totaled $29.7 million at quarter-end.
Co-Diagnostics
Co-Diagnostics
Forward Guidance
Co-Diagnostics aims to resubmit its 510(k) application and advance clinical evaluations for multiple diagnostic tests in 2025.
Positive Outlook
- New manufacturing facilities operational in the U.S. and India.
- Platform development progressed toward clinical trials.
- Planned re-submission of enhanced 510(k) application.
- Strong liquidity with nearly $30M in cash and investments.
- Test development underway for TB, HPV, and respiratory diseases.
Challenges Ahead
- Minimal revenue recorded in Q4 2024.
- Ongoing operating and net losses remain high.
- Stock-based compensation expenses continue to be significant.
- Regulatory delays affected commercialization timeline.
- Platform still pending FDA clearance for market launch.