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Healthcare · Medical - Devices · United States · Updated May 11, 3:36am
$2.53
Price
$2.8M
Market Cap
132
Employees
1.26
Beta
Dwight H. Egan
CEO
Business Description
Co-Diagnostics, Inc. operates as a molecular diagnostics company that develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction testing to patients in point-of-care and at-home setting. It also provides PCR diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus. In addition, the company offers three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications; tests that identify genetic traits in plant and animal genomes; and portable diagnostic device designed to bring PCR to patients in point-of-care and at-home settings. The company was incorporated in 2013 and is based in Salt Lake City, Utah.
Business History
Price Overview
Last updated: May 11, 2026 1:56pm (just now)$1.95
-0.58 (-22.96%)
Day Range
$1.82 – $2.65
52-Week Range
$1.35 – $46.50
50-Day MA
$1.96
200-Day MA
$6.90
Volume
1,285,669.07
Analyst Price Targets
Low
$180.00
Consensus
$180.00
High
$180.00
(3 analysts)
Share Structure
Outstanding
1,116,246.00
Float
1,041,153.00
Free Float
93.3%
High free float
— 93.3% of shares trade freely, ~6.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Small absolute float (1.0M shares) — even with a decent free float %, volume can be thin. Check average daily volume before sizing a position.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.07
Stock Price: $2.53
EPS (Diluted): -35.25
EPS (Diluted): -35.25
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.33
Stock Price: $2.53
Total Equity: $20.63M
Shares: 1,330,200
Total Equity: $20.63M
Shares: 1,330,200
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
0.28
Market Cap: $2.82M
Total Debt: $1.24M
Cash: $11.88M
EBITDA: -$30.18M
Total Debt: $1.24M
Cash: $11.88M
EBITDA: -$30.18M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
-$3.9M
Market Cap: $2.82M
Total Debt: $1.24M
Cash: $11.88M
Total Debt: $1.24M
Cash: $11.88M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
64.3%
Gross Profit: $400,112
Revenue: $622,489
Revenue: $622,489
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-5,025.5%
Operating Income: -$31.28M
Revenue: $622,489
Revenue: $622,489
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-7,533.6%
Net Income: -$46.90M
Revenue: $622,489
Revenue: $622,489
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-125.5%
Net Income: -$46.90M
Total Equity: $20.63M
Total Equity: $20.63M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-138.3%
Operating Income: -$31.28M
Tax Rate: 3.3%
Equity: $20.63M
Total Debt: $1.24M
Cash: $11.88M
Tax Rate: 3.3%
Equity: $20.63M
Total Debt: $1.24M
Cash: $11.88M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.87
Current Assets: $13.69M
Current Liabilities: $3.54M
Current Liabilities: $3.54M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.06
Short-Term Debt: $662,258
Long-Term Debt: $574,301
Total Debt: $1.24M
Total Equity: $20.63M
Long-Term Debt: $574,301
Total Debt: $1.24M
Total Equity: $20.63M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.47
Revenue: $622,489
Shares: 1,330,200
Shares: 1,330,200
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$15.51
Total Equity: $20.63M
Shares: 1,330,200
Shares: 1,330,200
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-22.43
Operating CF: -$29.14M
CapEx: -$700,047
Shares: 1,330,200
CapEx: -$700,047
Shares: 1,330,200
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $2.53
Stock Price: $2.53
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$46.90M
Net Income: -$46.90M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CODX against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $97.9M | $34.2M | $6.8M | $3.9M | $622,489 |
| Cost of Revenue | $11.6M | $5.5M | $4.2M | $999,124 | $222,377 |
| Gross Profit | $86.3M | $28.7M | $2.6M | $2.9M | $400,112 |
| Operating Expenses | $40.2M | $55.7M | $45.3M | $43.0M | $31.7M |
| Operating Income | $46.1M | -$27.0M | -$42.7M | -$40.1M | -$31.3M |
| Net Income | $36.7M | -$14.2M | -$35.3M | -$37.6M | -$46.9M |
| EBITDA | $46.4M | -$10.3M | -$41.5M | -$38.7M | -$30.2M |
| EPS | $38.10 | $-13.57 | $-36.00 | $-37.20 | $-35.25 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $88.6M | $23.0M | $14.9M | $2.9M | $11.9M |
| Total Current Assets | $115.1M | $92.7M | $62.1M | $32.3M | $13.7M |
| Total Assets | $160.0M | $123.1M | $95.3M | $64.0M | $24.7M |
| Current Liabilities | $12.6M | $3.9M | $5.7M | $7.3M | $3.5M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $574,301 |
| Total Liabilities | $25.6M | $8.6M | $9.3M | $9.7M | $4.1M |
| Total Equity | $134.5M | $114.5M | $86.0M | $54.3M | $20.6M |
| Retained Earnings | $54.2M | $39.9M | $4.6M | -$33.0M | -$80.4M |
Cash Flow (Annual)
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $41.1M | $6.6M | -$22.1M | -$29.2M | -$29.1M |
| Capital Expenditure | $-669,463 | -$1.4M | -$1.4M | $-748,352 | $-700,047 |
| Free Cash Flow | $40.4M | $5.1M | -$23.4M | -$29.9M | -$29.8M |
| Acquisitions (net) | $1.7M | $0 | $0 | $-143,750 | $-102,566 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$14.2M | -$1.4M | $0 | $0 |
| Net Change in Cash | $45.6M | -$65.6M | -$8.1M | -$12.0M | $8.9M |
Analyst Estimates (Annual)
| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$552,400 $551,677 – $553,122
|
$17.2M $17.2M – $17.2M
|
$59.4M $59.4M – $59.4M
|
$136.6M $136.4M – $136.8M
|
| EBITDA |
$-312,352 $-312,761 – $-311,943
|
-$9.7M -$9.7M – -$9.7M
|
-$33.6M -$33.6M – -$33.6M
|
-$77.2M -$77.3M – -$77.1M
|
| Net Income |
-$16.2M -$16.2M – -$16.1M
|
-$16.0M -$16.0M – -$15.9M
|
-$9.2M -$9.2M – -$9.2M
|
$8.8M $8.8M – $8.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -65.0% | -80.1% | -42.5% | -84.1% |
| Gross Profit Growth | -66.7% | -90.9% | +11.0% | -86.3% |
| Operating Income Growth | -158.6% | -58.3% | +6.1% | +22.0% |
| Net Income Growth | -138.8% | -148.2% | -6.5% | -24.6% |
| EBITDA Growth | -122.2% | -302.3% | +6.7% | +22.0% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2025-11-23 | Murphy Edward L. | A-Award | 57,499.00 | $0.00 | $0 |
| 2025-11-23 | Murphy Edward L. | M-Exempt | 57,499.00 | $0.00 | $0 |
| 2025-11-23 | Brown Brian Lee | A-Award | 134,167.00 | $0.00 | $0 |
| 2025-11-23 | Brown Brian Lee | D-Return | 40,723.00 | $0.35 | $14,253 |
| 2025-11-23 | Brown Brian Lee | M-Exempt | 134,167.00 | $0.00 | $0 |
| 2025-11-23 | Abbott Richard David | M-Exempt | 56,667.00 | $0.00 | $0 |
| 2025-11-23 | Abbott Richard David | A-Award | 56,667.00 | $0.00 | $0 |
| 2025-11-23 | Abbott Richard David | D-Return | 17,200.00 | $0.35 | $6,020 |
| 2025-11-23 | Egan Dwight H | A-Award | 163,333.00 | $0.00 | $0 |
| 2025-11-23 | Egan Dwight H | D-Return | 49,575.00 | $0.35 | $17,351 |
| 2025-11-23 | Egan Dwight H | M-Exempt | 163,333.00 | $0.00 | $0 |
| 2025-11-23 | SERBIN RICHARD S | A-Award | 57,499.00 | $0.00 | $0 |
| 2025-11-23 | SERBIN RICHARD S | M-Exempt | 57,499.00 | $0.00 | $0 |
| 2025-11-23 | Durenard Eugene | A-Award | 57,499.00 | $0.00 | $0 |
| 2025-11-23 | Durenard Eugene | M-Exempt | 57,499.00 | $0.00 | $0 |
| 2025-11-23 | NELSON JAMES B | A-Award | 57,499.00 | $0.00 | $0 |
| 2025-11-23 | NELSON JAMES B | M-Exempt | 57,499.00 | $0.00 | $0 |
| 2025-08-13 | Abbott Richard David | A-Award | 220,000.00 | $0.00 | $0 |
| 2025-08-13 | Brown Brian Lee | A-Award | 225,000.00 | $0.00 | $0 |
| 2025-08-13 | Egan Dwight H | A-Award | 275,000.00 | $0.00 | $0 |
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27