Co-Diagnostics, Inc.
For the period ended Dec 31, 2024. Filed Mar 27, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 27, 2025
CODX$0.29-9.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | ||||
|---|---|---|---|---|
| 2024 · 2023 | ||||
| Cash flows from operating activities | ||||
| Net loss | $(37,639,008) | $(35,332,865) | ||
| Adjustments to reconcile net loss to cash used in operating activities: | ||||
| Depreciation and amortization | 1,377,266 | 1,230,474 | ||
| Stock-based compensation expense | 5,434,904 | 8,336,855 | ||
| Change in fair value of acquisition contingencies | (714,876) | (1,092,581) | ||
| Non-cash lease expense | 13,510 | 47,992 | ||
| Realized gain on investments | (870,745) | (2,243,059) | ||
| (Gain) loss from equity method investment | 186,067 | (100,703) | ||
| (Gain) loss on disposition of assets | (8,291) | 2,578 | ||
| Deferred income taxes | - | (2,417,987) | ||
| Provision for (recoveries of) credit losses | (15,035) | 612,809 | ||
| Inventory obsolescence expense | 326,512 | 3,233,281 | ||
| Changes in assets and liabilities: | ||||
| Accounts receivable | 186,391 | 2,536,988 | ||
| Prepaid expenses and other assets | 412,056 | 1,082,536 | ||
| Inventory | 265,489 | 413,140 | ||
| Deferred revenue | (321,592) | 362,449 | ||
| Income taxes payable | 54,457 | (522,098) | ||
| Accounts payable, accrued expenses and other liabilities | 2,157,850 | 1,768,326 | ||
| Net cash used in operating activities | (29,155,045) | (22,081,865) | ||
| Cash flows from investing activities | ||||
| Purchases of property and equipment | (748,352) | (1,365,306) | ||
| Proceeds from maturities of marketable investment securities | 58,765,487 | 127,251,619 | ||
| Purchases of marketable securities | (40,802,588) | (110,497,444) | ||
| Investment in joint venture | (143,750) | - | ||
| Net cash provided by investing activities | 17,070,797 | 15,388,869 | ||
| Cash flows from financing activities | ||||
| Repurchases of common stock | - | (1,363,929) | ||
| Issuance of common stock related to at-the-market offering, net of offering costs | 103,914 | - | ||
| Net cash provided by (used in) financing activities | 103,914 | (1,363,929) | ||
| Net decrease in cash and cash equivalents | (11,980,334) | (8,056,925) | ||
| Cash and cash equivalents at beginning of period | 14,916,878 | 22,973,803 | ||
| Cash and cash equivalents at end of period | $2,936,544 | $14,916,878 | ||
| Supplemental disclosure of cash flow information | ||||
| Income taxes paid | $ | - | $55,975 | |
| Supplemental disclosure of non-cash investing and financing transactions | ||||
| Inventory moved to property, plant and equipment | $ | - | $673 | |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $ | - | $3,203,146 | |
| Receivable from issuance of common stock, collected in 2025 | $126,750 | $ | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.