| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 0.15 | 200.0% |
| Total Income | 0.15 | 200.0% |
| Expenditure | 9.35 | 8.7% |
| PBT | -9.14 | 21.5% |
| Net Profit | -9.14 | 21.4% |
| OPM | — | |
| NPM | — | |
| EPS | -4.06 | 1591.7% |
Co-Diagnostics Reports Q1 2026 Financial Results
15 May 2026 · 15 May, 1:42 am
Summary
Co-Diagnostics, Inc. announced its financial results for the first quarter ended March 31, 2026. Revenue increased to $0.15 million from $0.05 million in the same quarter of the previous year. The company reported a net loss of $9.1 million, or $4.06 per share, compared to a net loss of $7.5 million, or $7.05 per share, in the first quarter of 2025. Operating expenses increased to $9.2 million, driven by research and development spending. The company is focused on advancing its clinical pipeline and expanding its presence in strategic global markets.
Key Highlights
- 1
Co-Diagnostics reported revenue of $0.15 million for the first quarter of 2026, compared to $0.05 million in the first quarter of 2025.
- 2
The company's operating expenses were $9.2 million, compared to $8.6 million in the same period last year.
- 3
The net loss for the quarter was $9.1 million, or $4.06 per share, compared to a net loss of $7.5 million, or $7.05 per share, in the same period last year.
- 4
Adjusted EBITDA loss was $8.7 million, compared to a loss of $7.4 million in the first quarter of 2025.
- 5
Cash and cash equivalents totaled $8.2 million as of March 31, 2026, compared to $11.9 million as of December 31, 2025.
- 6
The company received a CDSCO license to manufacture and sell the CoSara PCR Pro® instrument in India.
- 7
CoSara Diagnostics' commercial and distribution territory expanded across South Asia to include Bangladesh, Pakistan, Nepal, and Sri Lanka.
Management Comments
Dwight Egan
“The progress we’ve made across the business is translating into tangible milestones and expanded opportunities. During the quarter, we advanced key initiatives across our clinical pipeline, strengthened our presence in strategic global markets through CoSara and CoMira, and continued to build the foundation for a scalable, globally deployable diagnostics platform. These efforts reflect a focused strategy centered on execution, innovation, and expanding our reach into high-need markets.” Mr. Egan continued, “We believe we have generated the data needed to support a regulatory submission for our upper respiratory multiplex test and are advancing toward a 510(k) filing with the FDA. We are also preparing to initiate clinical performance studies for our MTB program in India, which we believe represents one of the most significant near-term opportunities for the platform. Together with continued progress across our international initiatives, these developments demonstrate continued operational progress against our strategy and that we are entering the next phase of execution with increasing momentum and a clearer path toward commercialization.”
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