Co-Diagnostics, Inc. Reports Full Year 2024 Financial Results

About this update from Co-diagnostics, Inc.

[{"type":"text","content":"SALT LAKE CITY, March 27, 2025 /PRNewswire/ -- Co-Diagnostics, Inc. (NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, today announced financial results for the fourth quarter and full year ended December 31, 2024.","length":300,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Co-Diagnostics)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Co-Diagnostics)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":184,"url":"https://media.zenfs.com/en/prnewswire.com/7a89e790bf1cbdd13a473c00e9766ccb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_YQ2JYyHRV7RlBcYGBsF.Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMyNDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/7a89e790bf1cbdd13a473c00e9766ccb","width":400,"height":184}},"href":"https://mma.prnewswire.com/media/1856437/Co_Diagnostics_New_Logo_v1.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Full Year 2024 Financial Results:","length":33,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue of $3.9 million, which declined from $6.8 million during the prior year primarily due to higher Grant revenue in 2023. Grant revenue totaled $3.1 million while product revenue totaled $0.8 million","length":204,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating expenses of $43.0 million decreased by 5.2% from the prior year due to higher expenses in 2023 related to platform development and regulatory submission preparation","length":174,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating loss of $40.1 million compared to operating loss of $42.7 million in 2023","length":83,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss of $37.6 million, compared to net loss of $35.3 million in the prior year, representing a loss of $1.24 per fully diluted share, compared to a loss of $1.20 per fully diluted share in the prior year","length":207,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA loss of $33.5 million","length":37,"tagName":"p"}]},{"val":[{"type":"text","content":"Cash, cash equivalents, and marketable securities of $29.7 million as of December 31, 2024","length":90,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":795,"olType":false},{"type":"text","content":"Ful...

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