Co-Diagnostics (NASDAQ:CODX) Announces Quarterly Earnings Results, Misses Estimates By $12.75 EPS

Co-Diagnostics (NASDAQ:CODX) released its earnings results on Tuesday. The company reported ($16.65) EPS for the quarter, missing the consensus estimate of ($3.90) by ($12.75), FiscalAI reports. The company had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.13 million. Co-Diagnostics had a negative net margin of 6,347.34% and a negative return on equity of 70.26%.

Here are the key takeaways from Co-Diagnostics’ conference call:

• CoSara joint venture received a CDSCO license to manufacture the Kodiak PCR Pro in India and is expanding distribution to Bangladesh, Pakistan, Nepal and Sri Lanka while exploring strategic alternatives (including a potential SPAC) to access capital.
• Co-Diagnostics is initiating TB clinical performance studies in India aligned with new WHO guidance (including tongue swab use) and expects commercialization of the TB test in India by Q3 2026.
• The CoMira joint venture in Saudi Arabia is progressing toward local manufacturing (lease being finalized) and aims to be the first domestic molecular diagnostics manufacturer in the kingdom, supporting regional MENA expansion.
• Financials show a decline in revenue to $0.6M in 2025, a $46.9M net loss (including an $18.9M impairment), cash down to $11.9M and ~$29M operating cash use, leaving the company dependent on additional financing and non-dilutive funding.
• Co-Diagnostics strengthened its IP portfolio with recent patent grants covering core components of the Kodiak PCR platform in Australia and Japan, which may support future commercialization but has uncertain near-term impact.

Co-Diagnostics Trading Up 9.4%

CODX stock traded up $0.16 during midday trading on Tuesday, hitting $1.86. The stock had a trading volume of 263,500 shares, compared to its average volume of 3,521,331. The firm has a market capitalization of $3.91 million, a price-to-earnings ratio of -0.06 and a beta of 1.31. Co-Diagnostics has a 52 week low of $1.66 and a 52 week high of $46.50. The stock has a 50-day simple moving average of $2.46 and a 200 day simple moving average of $7.44.

Hedge Funds Weigh In On Co-Diagnostics

A number of hedge funds have recently made changes to their positions in the business. Virtu Financial LLC lifted its holdings in shares of Co-Diagnostics by 393.8% during the 3rd quarter. Virtu Financial LLC now owns 126,524 shares of the company’s stock worth $44,000 after acquiring an additional 100,901 shares during the period. Jane Street Group LLC increased its stake in Co-Diagnostics by 314.1% in the second quarter. Jane Street Group LLC now owns 166,254 shares of the company’s stock valued at $47,000 after acquiring an additional 126,105 shares during the period. Finally, Geode Capital Management LLC increased its stake in Co-Diagnostics by 40.4% in the fourth quarter. Geode Capital Management LLC now owns 449,148 shares of the company’s stock valued at $81,000 after acquiring an additional 129,158 shares during the period. Institutional investors and hedge funds own 14.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CODX. Wall Street Zen upgraded shares of Co-Diagnostics from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Maxim Group downgraded Co-Diagnostics from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.50.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company headquartered in Salt Lake City, Utah, known for its proprietary CoPrimer™ technology. Founded in 2016, the company focuses on the design, development and distribution of molecular diagnostic test kits for the detection of infectious diseases, genetic mutations and other health-relevant biomarkers. Its core platform leverages patented cooperative primers, which are engineered to enhance specificity, sensitivity and cost-effectiveness compared to conventional PCR-based assays.

Through its in-house manufacturing and global supply chain partnerships, Co-Diagnostics produces a range of real-time polymerase chain reaction (qPCR) kits, reagents and customized assay development services.