Co-Diagnostics Reports Q2 2025 Financial Results

Co-Diagnostics ( (CODX) ) has released its Q2 earnings. Here is a breakdown of the information Co-Diagnostics presented to its investors.

Co-Diagnostics, Inc. is a molecular diagnostics company based in Utah, specializing in the development, manufacturing, and marketing of advanced diagnostic technologies, particularly focusing on nucleic acid molecules for various applications, including infectious diseases.

In its latest earnings report for the second quarter of 2025, Co-Diagnostics, Inc. announced a significant decline in revenue to $0.2 million from $2.7 million in the same quarter of the previous year, primarily due to the timing of grant revenue recognition. Despite this, the company has made strides in reducing operating expenses by 19.1% compared to the previous year.

Key financial metrics revealed an operating loss of $8.1 million, slightly higher than the $7.7 million loss in Q2 2024. The net loss for the quarter was $7.7 million, translating to a loss of $0.23 per share, compared to a $0.25 loss per share in the previous year. The company reported an adjusted EBITDA loss of $7.2 million, with cash and marketable securities totaling $13.4 million as of June 30, 2025.

Strategically, Co-Diagnostics is progressing with its Co-Dx PCR platform, aiming to initiate clinical evaluations for all tests in its pipeline by year-end. The company is preparing to start trials for an enhanced COVID-19 test, which is expected to be the first of four infectious disease PCR test panels submitted for regulatory clearance.

Looking ahead, Co-Diagnostics remains focused on achieving its 2025 development and regulatory milestones. The company is confident in the potential of its PCR platform to enhance global diagnostic testing accessibility, anticipating strong regulatory submissions and commercialization success in the near future.