| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 0.17 | 13.3% | 6.3% |
| Total Income | 0.17 | 13.3% | 6.3% |
| Expenditure | 6.37 | 31.9% | 22.5% |
| PBT | -6.26 | 31.5% | 18.9% |
| Net Profit | -6.28 | 31.3% | 18.8% |
| OPM | — | ||
| NPM | — | ||
| EPS | -1.46 | 64.0% | 534.8% |
Co-Diagnostics Reports Q2 2026 Financial Results
14 Aug 2026 · 14 Aug, 1:40 am
Summary
Co-Diagnostics announced its financial results for the second quarter ended June 30, 2026, reporting revenue of $0.17 million, a slight increase from the prior year quarter. The company significantly reduced its operating expenses to $6.3 million from $8.2 million in Q2 2025, leading to an improved net loss of $6.3 million ($1.46 per share) compared to $7.7 million ($7.00 per share) in the prior year. Adjusted EBITDA loss also narrowed to $5.8 million from $7.2 million. Management highlighted meaningful operational progress, including regulatory milestones like the FDA 510(k) submission for a new multiplex test and advancements in international commercialization and manufacturing capabilities.
Key Highlights
- 1
Co-Diagnostics reported revenue of $0.17 million for the second quarter of 2026, an increase from $0.16 million in the second quarter of 2025.
- 2
Operating expenses decreased to $6.3 million in Q2 2026 from $8.2 million in Q2 2025, primarily due to lower general and administrative and research and development expenses.
- 3
The net loss for the second quarter of 2026 was $6.3 million, or $1.46 per basic and diluted share, an improvement from a net loss of $7.7 million, or $7.00 per basic and diluted share, in the second quarter of 2025.
- 4
Adjusted EBITDA loss improved to $5.8 million in Q2 2026, compared to a loss of $7.2 million in Q2 2025.
- 5
The company advanced its manufacturing strategy in Saudi Arabia with approval for a manufacturing facility industrial site and execution of a lease agreement.
- 6
Co-Diagnostics submitted its FDA 510(k) application for the Co-Dx™ PCR Flu A/B & RSV upper respiratory multiplex test on the Co-Dx PCR Pro® instrument.
- 7
The Vector Smart® customer footprint expanded to 21 U.S. states with four new laboratory installations completed during the quarter.
Management Comments
Dwight Egan
Our second quarter marked a period of meaningful operational progress for Co-Diagnostics, as years of investment across our platform are illustrated by these tangible milestones. This progress was reflected across our regulatory, clinical and commercial priorities, including expanding our tuberculosis program in India and strengthening our international manufacturing and commercialization capabilities. More recently, we built on that momentum by submitting our FDA 510(k) application for the Co-Dx™ PCR Flu A/B & RSV upper respiratory multiplex test on the Co-Dx PCR Pro® instrument. Together, these milestones reinforce that we are executing against our strategic priorities and advancing the platform toward commercialization. What differentiates Co-Diagnostics is that we have never viewed our opportunity as simply developing another diagnostic test. We have built an integrated molecular diagnostics platform that combines instrumentation, assays, cloud connectivity and artificial intelligence, along with manufacturing, and global commercial infrastructure into a scalable ecosystem. As we continue to advance regulatory milestones and expand deployment across international markets, we believe this strategy has the potential to create long-term value for our shareholders.
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