Co-Diagnostics Inc
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 2024
CODX$0.32+24.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Product revenue | $206,876 | $136,533 | $620,723 | $936,296 |
| Grant revenue | 434,265 | 2,320,565 | 3,145,112 | 2,320,565 |
| Total revenue | 641,141 | 2,457,098 | 3,765,835 | 3,256,861 |
| Cost of revenue | 297,403 | 255,772 | 744,056 | 1,217,108 |
| Gross profit | 343,738 | 2,201,326 | 3,021,779 | 2,039,753 |
| Operating expenses | ||||
| Sales and marketing | 1,059,745 | 1,904,395 | 3,664,670 | 5,343,692 |
| General and administrative | 4,287,380 | 3,147,753 | 10,338,568 | 9,875,613 |
| Research and development | 4,880,315 | 5,788,789 | 16,172,684 | 16,783,892 |
| Depreciation and amortization | 351,235 | 296,340 | 1,020,143 | 917,596 |
| Total operating expenses | 10,578,675 | 11,137,277 | 31,196,065 | 32,920,793 |
| Loss from operations | (10,234,937) | (8,935,951) | (28,174,286) | (30,881,040) |
| Other income, net | ||||
| Interest income | 263,335 | 322,877 | 968,256 | 717,141 |
| Realized gain on investments | 293,067 | 425,446 | 595,302 | 1,254,718 |
| Gain (loss) on disposition of assets | 3,513 | (2,578) | 7,013 | (2,578) |
| Gain (loss) on remeasurement of acquisition contingencies | (11,927) | 140,296 | 194,217 | 1,537,373 |
| Gain (loss) on equity method investment in joint venture | 12,683 | (45,865) | (132,775) | 106,264 |
| Total other income, net | 560,671 | 840,176 | 1,632,013 | 3,612,918 |
| Loss before income taxes | (9,674,266) | (8,095,775) | (26,542,273) | (27,268,122) |
| Income tax provision (benefit) | 22,189 | (2,113,581) | 65,543 | (6,611,712) |
| Net loss | $(9,696,455) | $(5,982,194) | $(26,607,816) | $(20,656,410) |
| Other comprehensive loss | ||||
| Change in net unrealized gains on marketable securities, net of tax | 37,158 | 33,522 | 261,666 | 319,509 |
| Total other comprehensive income | $37,158 | $33,522 | $261,666 | $319,509 |
| Comprehensive loss | $(9,659,297) | $(5,948,672) | $(26,346,150) | $(20,336,901) |
| Loss per common share: | ||||
| Basic and Diluted | $(0.32) | $(0.20) | $(0.88) | $(0.70) |
| Weighted average shares outstanding: | ||||
| Basic and Diluted | 30,494,206 | 29,361,300 | 30,155,167 | 29,306,572 |
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