📊 CODX Key Takeaways
Is Co-Diagnostics, Inc. (CODX) a Good Investment?
Co-Diagnostics faces severe financial distress with an 84% revenue collapse, negative gross margins indicating fundamental business model failure, and annual cash burn of approximately $8M against only $8.2M in remaining cash reserves. The deeply negative profitability margins and deteriorating cash position suggest bankruptcy risk and potential total equity loss.
Co-Diagnostics shows extremely weak fundamentals, with negligible revenue relative to its cost base and very large operating and net losses. While the balance sheet is currently lightly levered and still holds meaningful cash, the scale of operating cash burn versus cash on hand indicates poor sustainability unless the company sharply reduces expenses or rebuilds revenue. Growth quality appears very weak because there is no meaningful top-line expansion supporting the business model.
Co-Diagnostics, Inc. Key Strengths (CODX)
- Low leverage with 0.12x debt-to-equity ratio limits refinancing risk and provides covenant flexibility
- Adequate short-term liquidity with 2.28x current ratio provides near-term survival window
- Minimal capital expenditure requirement ($142K) reduces cash outflow from reinvestment needs
- Strong gross margin indicates the core product economics can be attractive at higher scale
- Balance sheet leverage is low, with modest long-term debt and substantial equity relative to liabilities
- Liquidity ratios remain solid in the near term, reducing immediate balance-sheet stress
CODX Stock Risks: Co-Diagnostics, Inc. Investment Risks
- Catastrophic 84% year-over-year revenue decline indicates fundamental product failure or market collapse
- Negative gross margin of -32.8% means company loses money on every sale; mathematically unsustainable at any volume
- Annual operating cash burn of $7.8M against $8.2M cash reserves creates approximately 12-month runway before insolvency
- Negative gross profit of -$47.8K despite only $146K revenue suggests structural cost problems and possible obsolete inventory
- Zero insider transactions in 90 days suggests management awareness of distress and lack of conviction in recovery
- ROE of -57% and ROA of -42.5% indicate severe shareholder value destruction
- Revenue is extremely low and effectively flat, showing little evidence of commercial traction
- Operating and net margins are deeply negative, indicating a severely mismatched cost structure
- Operating cash flow and free cash flow are heavily negative relative to cash reserves, creating significant runway risk
Key Metrics to Watch
- Revenue stabilization and recovery trajectory (continued decline is existential threat)
- Gross margin return to positive territory (current -32.8% is unsustainable and indicates non-viable product cost structure)
- Monthly cash burn rate and remaining runway (critical for going concern evaluation and timeline to potential bankruptcy)
- Operating cash flow inflection point (must achieve positive OCF to avoid equity dilution or restructuring)
- Quarterly revenue growth and whether sales scale meaningfully above the current base
- Cash burn trend, especially operating cash flow relative to cash and equivalents
Co-Diagnostics, Inc. (CODX) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 2.28x current ratio provides a solid financial cushion.
CODX Profit Margin, ROE & Profitability Analysis
CODX vs Healthcare Sector: How Co-Diagnostics, Inc. Compares
How Co-Diagnostics, Inc. compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Co-Diagnostics, Inc. Stock Overvalued? CODX Valuation Analysis 2026
Based on fundamental analysis, Co-Diagnostics, Inc. has mixed fundamental signals relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Co-Diagnostics, Inc. Balance Sheet: CODX Debt, Cash & Liquidity
CODX Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Co-Diagnostics, Inc.'s revenue has declined by 96% over the 5-year period, indicating business contraction. The most recent EPS of $-37.22 indicates the company is currently unprofitable.
CODX Revenue Growth, EPS Growth & YoY Performance
CODX Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $50.3K | -$7.5M | $-4.06 |
| Q3 2025 | $145.4K | -$5.9M | $-0.16 |
| Q2 2025 | $162.9K | -$7.5M | $-0.23 |
| Q1 2025 | $50.3K | -$7.5M | $-0.24 |
| Q3 2024 | $641.1K | -$5.8M | $-0.20 |
| Q2 2024 | $197.8K | -$5.8M | $-0.25 |
| Q1 2024 | $467.9K | -$5.8M | $-0.20 |
| Q3 2023 | $2.5M | -$1.4M | $-0.04 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Co-Diagnostics, Inc. Dividends, Buybacks & Capital Allocation
CODX SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Co-Diagnostics, Inc. (CIK: 0001692415)
📋 Recent SEC Filings
❓ Frequently Asked Questions about CODX
What is the AI rating for CODX?
Co-Diagnostics, Inc. (CODX) has a Combined AI Grade of D from Claude (D) and ChatGPT (D) with 94% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are CODX's key strengths?
Claude: Low leverage with 0.12x debt-to-equity ratio limits refinancing risk and provides covenant flexibility. Adequate short-term liquidity with 2.28x current ratio provides near-term survival window. ChatGPT: Strong gross margin indicates the core product economics can be attractive at higher scale. Balance sheet leverage is low, with modest long-term debt and substantial equity relative to liabilities.
What are the risks of investing in CODX?
Claude: Catastrophic 84% year-over-year revenue decline indicates fundamental product failure or market collapse. Negative gross margin of -32.8% means company loses money on every sale; mathematically unsustainable at any volume. ChatGPT: Revenue is extremely low and effectively flat, showing little evidence of commercial traction. Operating and net margins are deeply negative, indicating a severely mismatched cost structure.
What is CODX's revenue and growth?
Co-Diagnostics, Inc. reported revenue of $146.0K.
Does CODX pay dividends?
Co-Diagnostics, Inc. does not currently pay dividends.
Where can I find CODX SEC filings?
Official SEC filings for Co-Diagnostics, Inc. (CIK: 0001692415) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is CODX's EPS?
Co-Diagnostics, Inc. has a diluted EPS of $-4.06.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is CODX's fundamental grade?
Based on our AI fundamental analysis in June 2026, Co-Diagnostics, Inc. has a D grade with 94% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is CODX stock overvalued or undervalued?
Valuation metrics for CODX: ROE of -57.0% (sector avg: 15%), net margin of -6,262.3% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
What is CODX's AI grade for 2026?
Our dual AI analysis gives Co-Diagnostics, Inc. a combined D grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is CODX's free cash flow?
Co-Diagnostics, Inc.'s operating cash flow is $-7.8M, with capital expenditures of $142.0K. FCF margin is -5,473.2%.
How does CODX compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin -6,262.3% (avg: 12%), ROE -57.0% (avg: 15%), current ratio 2.28 (avg: 2).