CODX on Nasdaq
Co-Diagnostics, Inc.
American surgical and medical instruments and apparatus company. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerCODX on Nasdaq2
- IndustrySurgical & Medical Instruments & Apparatus2
- HeadquartersSalt Lake City, United States2
- Incorporated inUT3
- Business address2401 S Foothill Drive, Suite D, Salt Lake City, Ut 841093
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation2
- LEI549300Z1JPESYWFM1R932
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o BRIAN BROWN, 2401 South Foothill Drive; Suite D, 84109 Salt Lake City, United States2
- Registered withUtah Division of Corporations & Commercial Code (Department of Commerce), 8650065-01422
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Nucleotide Polymorphism (“SNP”) detection and enrichment for next generation sequencing.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
64.3%Gross margin5
-8058.8%Operating margin5
-7533.6%Net margin5
-84.1%Revenue growth, 20255
-227.3%Return on equity5
-$29.8MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 67% of the revenue Co-Diagnostics, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Product | $770.0K | $418.2K |
| Grant | $3.1M | $204.3K |
Regions
United States brought in 93% of the revenue Co-Diagnostics, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $3.5M | $581.5K |
| Outside the United States | $391.8K | $40.9K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue1¢$222.4K
- Research and development91¢$19.1M
- Income tax8¢$1.6M
Out of $622.5K in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenue | $622.5K | $3.9M |
| Cost of revenue | $222.4K | $999.1K |
| Gross profit | $400.1K | $2.9M |
| Sales and marketing | $2.4M | $4.5M |
| General and administrative | $9.1M | $16.2M |
| Research and development | $19.1M | $21.0M |
| Depreciation and amortization | $1.1M | $1.4M |
| Impairment charges | $18.9M | |
| Total operating expenses | $50.6M | $43.0M |
| Loss from operations | -$50.2M | -$40.1M |
| Interest income, net | $292.9K | $1.1M |
| Realized gain on investments | $683.4K | $870.7K |
| Gain (loss) on disposition of assets | -$82.4K | $8.3K |
| Gain on remeasurement of acquisition contingencies | $805.9K | $714.9K |
| Loss on equity method investment in joint ventures | -$46.3K | -$186.1K |
| Total other income, net | $1.7M | $2.5M |
| Loss before income taxes | -$48.5M | -$37.6M |
| Income tax provision (benefit) | -$1.6M | $57.4K |
| Net loss | -$46.9M | -$37.6M |
| Change in net unrealized gains (losses) on marketable securities, net of tax | -$418.4K | $271.7K |
| Total other comprehensive income (loss) | -$418.4K | $271.7K |
| Comprehensive loss | -$47.3M | -$37.4M |
| Basic | -$35.25 | -$37.22 |
| Diluted | -$35.25 | -$37.22 |
| Basic | 1.3M shares | 1.0M shares |
| Diluted | 1.3M shares | 1.0M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $11.9M | $2.9M | ||
| Marketable investment securities | $26.8M | |||
| Accounts receivable, net | $190.4K | $132.6K | $303.9K | |
| Inventory, net | $992.4K | $1.1M | ||
| Income taxes receivable | $44.6K | |||
| Prepaid expenses and other current assets | $581.5K | $1.3M | ||
| Total current assets | $13.7M | $32.3M | ||
| Property and equipment, net | $2.3M | $2.8M | ||
| Operating lease right-of-use asset | $1.2M | $2.1M | ||
| Intangible assets, net | $7.2M | $26.1M | ||
| Investment in joint ventures | $350.6K | $294.3K | ||
| Total assets | $24.7M | $63.6M | ||
| Accounts payable | $1.9M | $3.3M | ||
| Accrued expenses | $865.3K | $2.6M | ||
| Operating lease liability, current | $662.3K | $915.6K | ||
| Contingent consideration liabilities, current | $119.0K | $502.8K | ||
| Deferred revenue | $14.8K | $40.9K | $362.4K | |
| Total current liabilities | $3.5M | $7.3M | ||
| Income taxes payable | $713.6K | |||
| Operating lease liability | $574.3K | $1.2M | ||
| Contingent consideration liabilities | $422.1K | |||
| Total long-term liabilities | $574.3K | $2.4M | ||
| Total liabilities | $4.1M | $9.7M | ||
| Common stock, $0.001 par value; 100,000,000 shares authorized; 2,256,654 shares issued and 2,095,031 shares outstanding as of December 31, 2025 and 1,263,408 shares issued and 1,101,785 shares outstanding as of December 31, 2024 | $67.7K | $37.9K | ||
| Treasury stock, at cost; 161,623 shares held as of December 31, 2025 and December 31, 2024, respectively | -$15.6M | -$15.6M | ||
| Additional paid-in capital | $116.5M | $102.5M | ||
| Accumulated other comprehensive income | $418.4K | |||
| Accumulated deficit | -$80.4M | -$33.5M | ||
| Total stockholders equity | $20.6M | $53.9M | $85.6M | |
| Total liabilities and stockholders equity | $24.7M | $63.6M | ||
| Convertible preferred stock, par value | $0.00 | $0.00 | ||
| Convertible preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Convertible preferred stock, shares issued | 0 shares | 0 shares | ||
| Convertible preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 2.3M shares | 30 shares | 1.3M shares | |
| Common stock, shares outstanding | 2.1M shares | 30 shares | 1.1M shares | |
| Treasury stock, shares | 161.6K shares | 161.6K shares |
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $11.9M | $2.9M | ||
| Marketable investment securities | $26.8M | |||
| Accounts receivable, net | $190.4K | $132.6K | $303.9K | |
| Inventory, net | $992.4K | $1.1M | ||
| Income taxes receivable | $44.6K | |||
| Prepaid expenses and other current assets | $581.5K | $1.3M | ||
| Total current assets | $13.7M | $32.3M | ||
| Property and equipment, net | $2.3M | $2.8M | ||
| Operating lease right-of-use asset | $1.2M | $2.1M | ||
| Intangible assets, net | $7.2M | $26.1M | ||
| Investment in joint ventures | $350.6K | $294.3K | ||
| Total assets | $24.7M | $63.6M | ||
| Accounts payable | $1.9M | $3.3M | ||
| Accrued expenses | $865.3K | $2.6M | ||
| Operating lease liability, current | $662.3K | $915.6K | ||
| Contingent consideration liabilities, current | $119.0K | $502.8K | ||
| Deferred revenue | $14.8K | $40.9K | $362.4K | |
| Total current liabilities | $3.5M | $7.3M | ||
| Income taxes payable | $713.6K | |||
| Operating lease liability | $574.3K | $1.2M | ||
| Contingent consideration liabilities | $422.1K | |||
| Total long-term liabilities | $574.3K | $2.4M | ||
| Total liabilities | $4.1M | $9.7M | ||
| Common stock, $0.001 par value; 100,000,000 shares authorized; 2,256,654 shares issued and 2,095,031 shares outstanding as of December 31, 2025 and 1,263,408 shares issued and 1,101,785 shares outstanding as of December 31, 2024 | $67.7K | $37.9K | ||
| Treasury stock, at cost; 161,623 shares held as of December 31, 2025 and December 31, 2024, respectively | -$15.6M | -$15.6M | ||
| Additional paid-in capital | $116.5M | $102.5M | ||
| Accumulated other comprehensive income | $418.4K | |||
| Accumulated deficit | -$80.4M | -$33.5M | ||
| Total stockholders equity | $20.6M | $53.9M | $85.6M | |
| Total liabilities and stockholders equity | $24.7M | $63.6M | ||
| Convertible preferred stock, par value | $0.00 | $0.00 | ||
| Convertible preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Convertible preferred stock, shares issued | 0 shares | 0 shares | ||
| Convertible preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 2.3M shares | 30 shares | 1.3M shares | |
| Common stock, shares outstanding | 2.1M shares | 30 shares | 1.1M shares | |
| Treasury stock, shares | 161.6K shares | 161.6K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$46.9M | -$37.6M |
| Depreciation and amortization | $1.1M | $1.4M |
| Impairment charges | $18.9M | |
| Stock-based compensation expense | $2.2M | $5.4M |
| Common stock issued for financial advisory services | $135.0K | |
| Change in fair value of acquisition contingencies | -$805.9K | -$714.9K |
| Non-cash lease expense | -$8.2K | $13.5K |
| Realized gain on investments | -$683.4K | -$870.7K |
| Loss from equity method investment | $46.3K | $186.1K |
| (Gain) loss on disposition of assets | $82.4K | -$8.3K |
| Recoveries of credit losses | -$26.0K | -$15.0K |
| Inventory obsolescence expense (recovery) | -$50.9K | $326.5K |
| Accounts receivable | -$31.8K | $186.4K |
| Prepaid expenses and other assets | $585.9K | $412.1K |
| Inventory | $131.3K | $265.5K |
| Deferred revenue | -$26.1K | -$321.6K |
| Income taxes payable | -$713.6K | $54.5K |
| Accounts payable, accrued expenses and other liabilities | -$3.1M | $2.2M |
| Net cash used in operating activities | -$29.1M | -$29.2M |
| Purchases of property and equipment | -$700.0K | -$748.4K |
| Proceeds from maturities of marketable investment securities | $33.7M | $58.8M |
| Purchases of marketable securities | -$6.6M | -$40.8M |
| Investment in joint ventures | -$102.6K | -$143.8K |
| Net cash provided by investing activities | $26.3M | $17.1M |
| Proceeds from exercise of options | $12.5K | |
| Issuance of common stock related to at-the-market offering, net of offering costs | $1.8M | $103.9K |
| Issuance of common stock related to registered direct offering, net of offering costs | $10.0M | |
| Net cash provided by financing activities | $11.8M | $103.9K |
| Net increase (decrease) in cash and cash equivalents | $8.9M | -$12.0M |
| Cash received for income taxes | -$858.9K | |
| Receivable from issuance of common stock, collected in 2025 | $126.8K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Co-Diagnostics, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
20202025
- Chief executive officerDwight H. Egan Aug 16, 2017 to now13
- PresidentRichard David Abbott Mar 20, 2024 to now14
- PresidentDwight H. Egan Aug 16, 2017 to Aug 16, 201713
- Chief financial officerReed L. Benson Aug 16, 2017 to Nov 30, 202015
Board members and other officers (11)
- EVP of Finance & AccountingDaniel Bohrer Sep 14, 2026 to now16
- Chief Science OfficerBrent Satterfield Aug 16, 2017 to Aug 19, 202117
- Board memberEugene Durenard Jun 4, 2020 to now18
- Board memberJames B. Nelson Nov 15, 2019 to now19
- Board memberEdward L. Murphy Nov 19, 2019 to now20
- Board memberBrent Satterfield Aug 16, 2017 to May 15, 201817
- Board memberDwight H. Egan Aug 16, 2017 to now13
- Board memberEdward Borkowski Aug 16, 2017 to Aug 16, 201721
- Board memberFrank J. Kiesner Aug 16, 2017 to Aug 16, 201722
- Board memberRichard S. Serbin Aug 16, 2017 to now23
- General counselReed L. Benson May 21, 2021 to May 26, 202124
Named in SEC Form D filings
People the company listed in its private-offering notices.
- SecretaryBrian Brown named Jan 14, 202225
Timeline
Filings
226 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 58 major events, 99 insider forms, 13 large holders, 1 private raises, 35 other. The latest 20:
- Oct 15, 20268-K EDGAR
- Oct 15, 20268-K/A EDGAR
- Oct 13, 20268-K EDGAR
- Oct 5, 20268-K EDGAR
- Sep 25, 20268-K EDGAR
- Sep 21, 2026PRE 14A EDGAR
- Sep 16, 20268-K EDGAR
- Sep 16, 20268-K EDGAR
- Sep 15, 20268-K EDGAR
- Sep 14, 20263 EDGAR
- Sep 4, 20268-K EDGAR
- Sep 4, 2026DEFA14A EDGAR
- Sep 4, 20268-K EDGAR
- Sep 1, 2026EFFECT EDGAR
- Aug 24, 2026S-3 EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Aug 10, 2026SCHEDULE 13G/A EDGAR
- Jul 31, 20268-K EDGAR
The 226 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 20, 2023 | Brown Brian LeeChief Financial Officer | Buy | 3,000 | $1.90 | $5.7K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ARMISTICE CAPITAL, LLCSCHEDULE 13G, 1 filing Aug 14, 202626
- JANE STREET GROUP, LLCSCHEDULE 13G/A, 2 filings Jun 3, 2026 to Aug 10, 202627
- Ayrton Capital LLCSCHEDULE 13G/A, 2 filings Nov 13, 2025 to Feb 11, 202628
- Orca Capital AGSCHEDULE 13G/A, 4 filings Sep 18, 2025 to Oct 30, 202529
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 9, 2022 to Oct 30, 202530
Money raised
Private offerings the company reported to the SEC on Form D.
- Dec 31, 2021Raised $46.6 million in a private offering of equity Form D: $47.2 million offered in all Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARRichard David Abbott, President
- 15
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- 18SEC EDGAREugene Durenard, Board member
- 19SEC EDGARJames B. Nelson, Board member
- 20SEC EDGAREdward L. Murphy, Board member
- 21SEC EDGAREdward Borkowski, Board member
- 22SEC EDGARFrank J. Kiesner, Board member
- 23SEC EDGARRichard S. Serbin, Board member
- 24SEC EDGARReed L. Benson, General counsel
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