Co-Diagnostics (NASDAQ:CODX) Second Quarter 2024 Results

Key Financial Results

• Net loss: US$7.60m (loss narrowed by 15% from 2Q 2023).

• US$0.25 loss per share (improved from US$0.31 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Co-Diagnostics Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates significantly. Earnings per share (EPS) also surpassed analyst estimates by 26%.

Looking ahead, revenue is expected to decline by 107% p.a. on average during the next 2 years, while revenues in the Medical Equipment industry in the US are expected to grow by 8.2%.

Performance of the American Medical Equipment industry.

The company's shares are up 2.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 4 warning signs for Co-Diagnostics (2 can't be ignored!) that you need to be mindful of.

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