Co-Diagnostics Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
CODX$0.29-9.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| Cash flows from operating activities | |||
| Net loss | $(9,312,043) | $(5,755,391) | |
| Adjustments to reconcile net loss to cash used in operating activities: | |||
| Depreciation and amortization | 330,573 | 316,010 | |
| Stock-based compensation expense | 1,571,234 | 2,168,742 | |
| Change in fair value of acquisition contingencies | (450,260) | (1,037,672) | |
| Non-cash lease expense | 8,527 | 7,449 | |
| Realized gain on investments | (228,070) | (418,082) | |
| (Gain) loss from equity method investment | 70,955 | (277,322) | |
| Deferred income taxes | - | (2,214,652) | |
| Provision for credit losses | (14,658) | (113,998) | |
| Inventory obsolescence expense | 48,702 | 200,113 | |
| Changes in assets and liabilities: | |||
| Accounts receivable | (116,284) | 865,525 | |
| Prepaid expenses and other assets | (126,399) | 60,451 | |
| Inventory | 66,211 | (184,292) | |
| Deferred revenue | (55,972) | 18,120 | |
| Income taxes payable | 19,832 | 11,796 | |
| Accounts payable, accrued expenses and other liabilities | (302,682) | 435,686 | |
| Net cash used in operating activities | (8,490,334) | (5,917,517) | |
| Cash flows from investing activities | |||
| Purchases of property and equipment | (402,293) | (179,944) | |
| Proceeds from maturities of marketable investment securities | 17,382,925 | 30,539,621 | |
| Purchases of marketable securities | (307,925) | (40,574,387) | |
| Net cash provided by (used in) investing activities | 16,672,707 | (10,214,710) | |
| Cash flows from financing activities | |||
| Repurchases of common stock | - | (482,196) | |
| Net cash used in financing activities | - | (482,196) | |
| Net increase (decrease) in cash and cash equivalents | 8,182,373 | (16,614,423) | |
| Cash and cash equivalents at beginning of period | 14,916,878 | 22,973,803 | |
| Cash and cash equivalents at end of period | $23,099,251 | $6,359,380 | |
| Supplemental disclosure of cash flow information | |||
| Income taxes paid | $ | - | $29,500 |
| Supplemental disclosure of non-cash investing and financing transactions | |||
| Right-of-use assets obtained in exchange for new operating lease liabilities | $ | - | $657,150 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.