Co-Diagnostics, Inc. (CODX) Balance Sheet
CODX balance sheet, 2025
December 31, 2025 · U.S. dollars$24.7M assets = $4.1M liabilities + $20.6M equity
Both columns are drawn to the same scale: what CODX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CODX financial health
Descriptive bands, not a rating. Fiscal 2025.
CODX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.3M2016 | $24.7M2025 | +38.8%/yr | |
| Total liabilities | $4.3M2016 | $4.1M2025 | −0.5%/yr | |
| Shareholders’ equity | −$3.0M2016 | $20.6M2025 | — | |
| Cash & short-term investments | $998,7372016 | $11.9M2025 | +31.7%/yr | |
| Total debt | $3.4M2016 | $1.2M2025 | −10.6%/yr | |
| Net cash (debt) | −$2.4M2016 | $10.6M2025 | +$13.0M | |
| Working capital | −$2.6M2016 | $10.2M2025 | +$12.8M | |
| Current ratio | 0.312016 | 3.872025 | +3.55 | |
| Debt / equity | 0.052021 | 0.062025 | +0.01 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CODX assets
CODX liabilities and equity
CODX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CODX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $11.9M | $29.7M | $58.5M | $81.3M | $89.9M | $47.3M | $893,138 | $950,237 | $3.5M | $998,737 |
| Cash & equivalents | $11.9M | $2.9M | $14.9M | $23.0M | $88.6M | $43.0M | $893,138 | $950,237 | $3.5M | $998,737 |
| Short-term investments | $0 | $26.8M | $43.6M | $58.3M | $1.3M | $4.3M | — | — | $0 | — |
| Receivables | $190,375 | $132,570 | $330,881 | $5.4M | $20.9M | $12.1M | $131,382 | $13,420 | $0 | $3,183 |
| Inventory | $992,397 | $1.1M | $1.7M | $5.3M | $2.0M | $8.0M | $197,168 | $18,153 | $9,068 | $0 |
| Other current assets | $626,086 | $1.3M | $1.6M | $761,187 | $2.3M | $916,252 | $362,566 | $70,103 | $908,352 | $206,478 |
| Total current assets | $13.7M | $32.3M | $62.1M | $92.7M | $115.1M | $68.4M | $1.6M | $1.1M | $4.5M | $1.2M |
| Property, plant & equipment (net) | $3.5M | $4.9M | $6.0M | $2.9M | $1.9M | $949,639 | $196,832 | $156,138 | $165,567 | $87,429 |
| Goodwill & intangible assets | $7.2M | $26.1M | $26.4M | $26.8M | $41.9M | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $350,569 | $731,065 | $773,382 | $672,679 | $75,000 | $1.9M | $434,240 | $345,121 | $44,885 | $0 |
| Other non-current assets | $0 | $1 | $0 | $0 | $1.0M | $0 | $0 | $0 | $0 | $0 |
| Total assets | $24.7M | $64.0M | $95.3M | $123.1M | $160.0M | $71.2M | $2.2M | $1.6M | $4.7M | $1.3M |
| Liabilities | ||||||||||
| Accounts payable | $1.9M | $3.3M | $1.5M | $952,296 | $607,506 | $598,318 | $5,959 | $148,967 | $40,819 | $104,934 |
| Short-term debt | $662,258 | $915,619 | $838,387 | $297,209 | $6.1M | — | — | $1.9M | — | $2.9M |
| Deferred revenue | $14,800 | $40,857 | $362,449 | — | $150,000 | $305,307 | $1,323 | — | $10,792 | — |
| Total current liabilities | $3.5M | $7.3M | $5.7M | $3.9M | $12.6M | $4.1M | $328,070 | $2.4M | $628,256 | $3.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $445,000 |
| Lease obligations | $1.2M | $2.2M | $3.0M | $347,917 | $0 | — | — | — | — | — |
| Other long-term liabilities | $574,301 | $2.4M | $3.6M | $4.7M | $13.0M | $477,831 | $150,000 | $260,000 | $183,546 | $0 |
| Total liabilities | $4.1M | $9.7M | $9.3M | $8.6M | $25.6M | $4.5M | $478,070 | $2.6M | $811,802 | $4.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $67,700 | $37,902 | $36,108 | $34,754 | $33,820 | $28,558 | $17,343 | $12,923 | $12,317 | $9,882 |
| Retained earnings (deficit) | −$80.4M | −$33.0M | $4.6M | $39.9M | $54.2M | $17.5M | −$25.0M | −$18.7M | −$12.4M | −$5.5M |
| Treasury stock | — | — | — | −$14.2M | — | — | — | — | $0 | — |
| Accumulated other comprehensive income | $0 | $418,442 | $146,700 | $293,140 | $0 | $0 | — | — | $0 | −$80,917 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | — |
| Total shareholders' equity | $20.6M | $54.3M | $86.0M | $114.5M | $134.5M | $66.7M | $1.7M | −$1.1M | $3.9M | −$3.0M |
| Key figures | ||||||||||
| Total debt | $1.2M | $2.2M | $3.0M | $347,917 | $6.1M | — | — | $1.9M | — | $3.4M |
| Net cash (debt) | $10.6M | $27.6M | $55.6M | $80.9M | $83.8M | — | — | −$958,335 | — | −$2.4M |
| Working capital | $10.2M | $25.0M | $56.4M | $88.9M | $102.5M | $64.3M | $1.3M | −$1.3M | $3.8M | −$2.6M |
| Tangible book value | $13.4M | $28.2M | $59.6M | $87.8M | $92.6M | $66.7M | $1.7M | −$1.1M | $3.9M | −$3.0M |
| Current ratio | 3.87 | 4.41 | 10.81 | 23.94 | 9.14 | 16.83 | 4.83 | 0.45 | 7.09 | 0.31 |
| Quick ratio | 3.41 | 4.08 | 10.24 | 22.37 | 8.79 | 14.63 | 3.12 | 0.41 | 5.63 | 0.26 |
| Debt / equity | 0.06 | 0.04 | 0.03 | 0.00 | 0.05 | — | — | — | — | — |
| Equity / assets | 83.4% | 84.9% | 90.2% | 93.0% | 84.0% | 93.6% | 78.4% | −68.2% | 82.6% | −231.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.6M | $8.2M | $11.9M | $11.4M | $13.4M | $21.5M | $29.7M | $37.7M | $44.9M | $50.0M | $58.5M | $63.4M |
| Cash & equivalents | $3.6M | $8.2M | $11.9M | $11.4M | $11.1M | $1.9M | $2.9M | $10.8M | $13.9M | $23.1M | $14.9M | $10.2M |
| Short-term investments | — | — | $0 | $0 | $2.2M | $19.6M | $26.8M | $26.9M | $31.0M | $26.9M | $43.6M | $53.2M |
| Receivables | $52,484 | $82,388 | $190,375 | $979,122 | $210,968 | $136,391 | $132,570 | $178,243 | $551,504 | $434,868 | $330,881 | $2.1M |
| Inventory | $841,669 | $846,119 | $992,397 | $1.1M | $1.1M | $1.1M | $1.1M | $1.3M | $1.5M | $1.5M | $1.7M | $4.5M |
| Other current assets | $648,673 | $622,761 | $626,086 | $541,946 | $648,752 | $1.1M | $1.3M | $996,698 | $1.3M | $1.8M | $1.6M | $1.3M |
| Total current assets | $5.2M | $9.8M | $13.7M | $14.1M | $15.3M | $23.8M | $32.3M | $40.1M | $48.2M | $53.7M | $62.1M | $71.3M |
| Property, plant & equipment (net) | $3.7M | $4.2M | $3.5M | $3.9M | $4.3M | $4.5M | $4.9M | $5.3M | $5.6M | $5.9M | $6.0M | $5.8M |
| Goodwill & intangible assets | $7.2M | $7.2M | $7.2M | $26.1M | $26.1M | $26.1M | $26.1M | $26.2M | $26.3M | $26.3M | $26.4M | $26.5M |
| Long-term investments | $435,051 | $337,208 | $350,569 | $659,903 | $715,861 | $729,621 | $731,065 | $784,357 | $627,924 | $702,427 | $773,382 | $778,943 |
| Other non-current assets | $0 | $1 | $0 | $0 | $0 | $0 | $1 | $0 | $0 | $0 | $0 | $4.3M |
| Total assets | $16.6M | $21.5M | $24.7M | $44.7M | $46.5M | $55.1M | $64.0M | $72.4M | $80.7M | $86.7M | $95.3M | $108.7M |
| Liabilities | ||||||||||||
| Accounts payable | $1.1M | $2.0M | $1.9M | $1.5M | $1.6M | $2.7M | $3.3M | $2.2M | $1.9M | $2.0M | $1.5M | $1.4M |
| Short-term debt | $784,261 | $857,638 | $662,258 | $744,156 | $824,458 | $902,881 | $915,619 | $896,745 | $878,174 | $859,912 | $838,387 | $794,516 |
| Deferred revenue | $28,644 | $600 | $14,800 | $45,557 | $45,857 | $40,857 | $40,857 | $60,477 | $220,930 | $306,477 | $362,449 | $349,499 |
| Total current liabilities | $2.9M | $4.3M | $3.5M | $3.7M | $3.7M | $5.4M | $7.3M | $5.8M | $5.3M | $5.3M | $5.7M | $5.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.8M | $2.0M | $1.2M | $1.5M | $1.7M | $1.9M | $2.2M | $2.4M | $2.6M | $2.8M | $3.0M | $3.0M |
| Other long-term liabilities | $1.0M | $1.2M | $574,301 | $1.2M | $1.6M | $1.9M | $2.4M | $2.8M | $3.0M | $3.0M | $3.6M | $4.1M |
| Total liabilities | $3.9M | $5.5M | $4.1M | $4.9M | $5.3M | $7.2M | $9.7M | $8.6M | $8.3M | $8.3M | $9.3M | $9.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $70,484 | $69,207 | $67,700 | $52,991 | $41,031 | $38,421 | $37,902 | $36,778 | $36,760 | $36,127 | $36,108 | $35,367 |
| Retained earnings (deficit) | −$95.8M | −$89.5M | −$80.4M | −$54.2M | −$48.3M | −$40.6M | −$33.0M | −$22.0M | −$12.3M | −$4.7M | $4.6M | $19.3M |
| Accumulated other comprehensive income | — | — | $0 | $94,887 | $134,068 | $330,653 | $418,442 | $408,366 | $371,208 | $226,555 | $146,700 | $612,649 |
| Total shareholders' equity | $12.7M | $16.0M | $20.6M | $39.8M | $41.1M | $47.9M | $54.3M | $63.8M | $72.4M | $78.4M | $86.0M | $99.5M |
| Key figures | ||||||||||||
| Total debt | $1.8M | $2.0M | $1.2M | $1.5M | $1.7M | $1.9M | $2.2M | $2.4M | $2.6M | $2.8M | $3.0M | $3.0M |
| Net cash (debt) | $1.9M | $6.2M | $10.6M | $10.0M | $11.7M | $19.5M | $27.6M | $35.3M | $42.3M | $47.2M | $55.6M | $60.4M |
| Working capital | $2.3M | $5.5M | $10.2M | $10.4M | $11.6M | $18.5M | $25.0M | $34.3M | $42.9M | $48.4M | $56.4M | $66.2M |
| Tangible book value | $5.5M | $8.8M | $13.4M | $13.7M | $15.0M | $21.8M | $28.2M | $37.6M | $46.1M | $52.0M | $59.6M | $73.0M |
| Book value per share | $2.95 | $7.12 | — | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 4.3M | 2.3M | — | — | — | — | — | — | — | — | — | — |
| Current ratio | 1.81 | 2.28 | 3.87 | 3.81 | 4.12 | 4.43 | 4.41 | 6.92 | 9.09 | 10.19 | 10.81 | 13.99 |
| Quick ratio | 1.29 | 1.94 | 3.41 | 3.36 | 3.66 | 4.02 | 4.08 | 6.53 | 8.56 | 9.56 | 10.24 | 12.85 |
| Debt / equity | 0.14 | 0.13 | 0.06 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 |
| Equity / assets | 76.6% | 74.6% | 83.4% | 89.0% | 88.5% | 86.9% | 84.9% | 88.1% | 89.7% | 90.4% | 90.2% | 91.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
CODX financial position
At the end of fiscal 2025 (December 31, 2025), Co-Diagnostics had total assets of $24.7 million (down 61.3% from a year earlier), total liabilities of $4.1 million and shareholders' equity of $20.6 million. It held $11.9 million in cash and short-term investments against $1.2 million of debt, a net cash position of $10.6 million. Its current ratio was 3.87. In the latest quarter (ended June 30, 2026) total assets were $16.6 million and equity $12.7 million.
Related: CODX income statement, CODX cash flow statement, CODX key metrics. See the CODX stock overview for the latest quote and news.
CODX balance sheet FAQ
What are Co-Diagnostics's total assets?
Co-Diagnostics reported total assets of $24.7 million at the end of fiscal 2025 (December 31, 2025), compared with $64.0 million a year earlier.
How much debt does Co-Diagnostics have?
Co-Diagnostics had $1.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.06.
How much cash does Co-Diagnostics have?
Co-Diagnostics held $11.9 million in cash and short-term investments at the end of fiscal 2025; with $1.2 million of debt that is net cash of $10.6 million.
What is Co-Diagnostics's book value?
Co-Diagnostics's shareholders' equity (book value) was $20.6 million at the end of fiscal 2025.
What is Co-Diagnostics's current ratio?
Co-Diagnostics had current assets of $13.7 million and current liabilities of $3.5 million, a current ratio of 3.87 (it can cover its short-term obligations).
How much goodwill does Co-Diagnostics have?
Co-Diagnostics carried $7.2 million of goodwill and intangible assets, 29.2% of total assets, at the end of fiscal 2025.