Co-Diagnostics Q1 Revenue $0.15M; Net Loss $9.1M
Co-Diagnostics reported its first quarter 2026 financial results, with revenue increasing to $0.15 million from $0.05 million year-over-year. However, the company posted a net loss of $9.1 million, up from $7.5 million in Q1 2025, primarily due to higher operating expenses driven by research and development. Despite the increased loss, Co-Diagnostics highlighted significant operational progress, including receiving a CDSCO license and ISO 13485 certification for its Indian operations, expanding CoSara's distribution across South Asia, and initiating clinical studies for its TB program. The company also completed enrollment for its upper respiratory multiplex test clinical studies and expanded its international presence and intellectual property.
Key Highlights
- Q1 2026 revenue increased to $0.15 million, up from $0.05 million in Q1 2025.
- Net loss for Q1 2026 was $9.1 million, compared to a net loss of $7.5 million in Q1 2025.
- Operating expenses rose to $9.2 million, up from $8.6 million in the prior year period.
- Cash and cash equivalents totaled $8.2 million as of March 31, 2026.
- Received CDSCO license for CoSara PCR Pro instrument and ISO 13485 certification in India.
- Expanded CoSara's distribution territory across South Asia, targeting a $13 billion market.
- Completed enrollment in upper respiratory Co-Dx test clinical studies with over 1,400 patients.
- Expanded intellectual property portfolio with a new international patent in Japan.