Co-Diagnostics, Inc. (CODX) Income Statement
CODX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCODX revenue and net income
Where CODX's revenue goes
2025Each bar shows an amount and its share of revenue. CODX kept −7,533.6% of revenue as net income.
CODX profit margins
CODX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −84.1% | −73.7% | −61.6% | +51.2% |
| Gross profit | −86.3% | −75.9% | −63.0% | +44.6% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CODX quarterly EPS vs estimates
Co-Diagnostics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 12, 2026.
CODX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $622,489 | $3.9M | $6.8M | $34.2M | $97.9M | $74.6M | $214,974 | $39,911 | $7,662 | $0 |
| Cost of revenue | $222,377 | $999,124 | $4.2M | $5.5M | $11.6M | $16.6M | $112,431 | $9,391 | $302 | $37,491 |
| Gross profit | $400,112 | $2.9M | $2.6M | $28.7M | $86.3M | $58.0M | $102,543 | $30,520 | $7,360 | −$37,491 |
| Research & development | $19.1M | $21.0M | $23.0M | $17.4M | $15.0M | $3.2M | $1.4M | $1.4M | $1.0M | $731,474 |
| Sales, general & admin | $11.4M | $20.6M | $21.1M | $21.6M | $24.9M | $12.9M | $4.6M | $4.7M | $3.5M | $919,001 |
| Total operating expenses | $31.7M | $43.0M | $45.3M | $55.7M | $40.2M | $16.3M | $6.0M | $6.1M | $4.6M | $1.7M |
| Operating income | −$31.3M | −$40.1M | −$42.7M | −$27.0M | $46.1M | $41.7M | −$5.9M | −$6.1M | −$4.6M | −$1.7M |
| Interest income | $292,932 | $1.1M | $1.0M | $704,044 | $45,631 | $97,215 | $36,652 | $19,804 | $3,829 | $240,720 |
| Interest expense | — | — | — | $14.9M | $473,512 | $175 | $106,437 | $134,947 | $310,233 | $240,720 |
| Income before taxes | −$48.5M | −$37.6M | −$38.1M | −$18.8M | $45.6M | $42.6M | −$6.2M | −$6.3M | −$7.0M | −$1.9M |
| Income taxes | −$1.6M | $57,368 | −$2.8M | −$4.6M | $9.0M | $90,536 | −$126,444 | −$18,960 | $293,837 | $0 |
| Net income | −$46.9M | −$37.6M | −$35.3M | −$14.2M | $36.7M | $42.5M | −$6.2M | −$6.3M | −$7.0M | −$1.9M |
| EBITDA | −$47.4M | −$36.2M | −$36.9M | −$10.3M | $46.0M | $41.8M | −$6.0M | −$6.1M | −$6.6M | −$1.7M |
| EPS (diluted) | −$23.83 | −$27.51 | −$23.45 | $1.67 | $29.35 | $27.75 | −$8.19 | −$0.50 | −$0.52 | −$5.23 |
| Gross margin | 64.3% | 74.5% | 38.6% | 84.0% | 88.2% | 77.7% | 47.7% | 76.5% | 96.1% | — |
| Operating margin | −5,025.5% | −1,023.7% | −626.9% | −78.8% | 47.1% | 55.9% | −2,741.6% | −15,328.6% | −59,567.6% | — |
| Net margin | −7,533.6% | −961.4% | −518.7% | −41.6% | 37.5% | 57.0% | −2,882.0% | −15,714.3% | −90,827.9% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $166,131 | $145,954 | $263,922 | $145,380 | $162,910 | $50,277 | $149,325 | $641,141 | $2.7M | $252,745 | $3.6M | $2.5M |
| Cost of revenue | $45,303 | $449,213 | $142,396 | $26,285 | $32,106 | $21,590 | $255,068 | $297,403 | $212,148 | $234,505 | $3.0M | $255,772 |
| Gross profit | $120,828 | −$303,259 | $121,526 | $119,095 | $130,804 | $28,687 | −$105,743 | $343,738 | $2.4M | $18,240 | $587,336 | $2.2M |
| Research & development | $4.2M | $5.9M | $5.1M | $4.5M | $4.7M | $4.9M | $4.8M | $4.9M | $5.6M | $5.7M | $6.2M | $5.8M |
| Sales, general & admin | $2.0M | $3.0M | $2.4M | $2.4M | $3.2M | $3.4M | $6.6M | $5.3M | $4.2M | $4.5M | $5.9M | $5.1M |
| Total operating expenses | $6.3M | $8.9M | $7.8M | $7.1M | $8.2M | $8.6M | $11.8M | $10.6M | $10.1M | $10.3M | $12.4M | $11.1M |
| Operating income | −$6.2M | −$9.2M | −$7.7M | −$7.0M | −$8.1M | −$8.6M | −$11.9M | −$10.2M | −$7.7M | −$10.3M | −$11.8M | −$8.9M |
| Interest income | $17,493 | $6,974 | $253,979 | $13,194 | $12,158 | $13,601 | $123,569 | $263,335 | $342,188 | $362,733 | $444,772 | $322,877 |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $3.4M | — |
| Income before taxes | −$6.3M | −$9.1M | −$26.2M | −$7.1M | −$7.7M | −$7.5M | −$11.0M | −$9.7M | −$7.6M | −$9.3M | −$10.8M | −$8.1M |
| Income taxes | $19,168 | $520 | −$473,716 | −$1.2M | $12,327 | $12,004 | −$8,175 | $22,189 | $20,590 | $22,764 | $3.8M | −$2.1M |
| Net income | −$6.3M | −$9.1M | −$25.7M | −$5.9M | −$7.7M | −$7.5M | −$11.0M | −$9.7M | −$7.6M | −$9.3M | −$14.7M | −$6.0M |
| EBITDA | −$5.9M | −$8.9M | −$26.0M | −$6.8M | −$7.4M | −$7.2M | −$10.7M | −$9.3M | −$7.2M | −$9.0M | −$10.5M | −$7.8M |
| EPS (diluted) | −$1.46 | −$4.09 | −$4.44 | −$4.66 | −$7.01 | −$7.72 | −$0.38 | −$9.82 | −$7.50 | −$9.81 | −$0.50 | −$6.54 |
| Gross margin | 72.7% | −207.8% | 46.0% | 81.9% | 80.3% | 57.1% | −70.8% | 53.6% | 92.0% | 7.2% | 16.5% | 89.6% |
| Operating margin | −3,732.5% | −6,309.1% | −2,902.3% | −4,824.5% | −4,946.1% | −17,009.7% | −7,973.9% | −1,596.4% | −289.1% | −4,059.2% | −332.6% | −363.7% |
| Net margin | −3,782.4% | −6,262.3% | −9,755.1% | −4,049.3% | −4,745.0% | −14,983.5% | −7,387.4% | −1,512.4% | −286.0% | −3,684.4% | −412.8% | −243.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CODX's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CODX financial results
In fiscal year 2025 (ended December 31, 2025), Co-Diagnostics reported revenue of $0.6 million, down 84.1% from the year before. It had a net loss of $46.9 million, a net profit margin of −7,533.6%. Diluted earnings per share came to −$23.83. Over five years revenue grew at an average rate of −61.6% a year.
See the CODX stock overview for the latest quote and news, or the CODX chart for price history and technical indicators.
CODX income statement FAQ
What is Co-Diagnostics's annual revenue?
Co-Diagnostics reported total revenue of $0.6 million for fiscal year 2025, which ended on December 31, 2025. That was down 84.1% from $3.9 million the previous year.
Is Co-Diagnostics profitable?
No. Co-Diagnostics reported a net loss of $46.9 million in fiscal 2025, a net profit margin of −7,533.6%; its operating margin was −5,025.5%.
What is Co-Diagnostics's gross margin?
Co-Diagnostics's gross margin was 64.3% in fiscal 2025: for every $100 of revenue, Co-Diagnostics kept $64 after the direct cost of its products and services.
How much does Co-Diagnostics spend on research and development?
Co-Diagnostics spent $19.1 million on research and development in fiscal 2025, 3,074.3% of revenue.
How fast is Co-Diagnostics growing?
Revenue grew −61.6% a year on average over the last five fiscal years, from $74.6 million to $0.6 million.
What are Co-Diagnostics's earnings per share?
Co-Diagnostics earned $-23.83 per diluted share in fiscal 2025, compared with $-27.51 a year earlier.
When will Co-Diagnostics report its next earnings?
Co-Diagnostics is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does Co-Diagnostics's fiscal year end?
Co-Diagnostics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.