Co-Diagnostics Inc (CODX) Q3 2024 Earnings Call Highlights: Navigating Revenue Decline and ...

GuruFocus.com11-08

Total Revenue: $0.6 million, down from $2.5 million in the prior year same period. Grant Revenue: $0.4 million in the third quarter of 2024. Product Revenue: $0.2 million in the third quarter of 2024....

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481100539?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/gY1zAyP_yM8I1zhtICTwBw--~B/aD0yNDM7dz0yNDM7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/ba002a6338b45ced3986505d6cb81cff","is_english":true,"pubTime":"2024-11-08 23:03","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2481100539","market":"us","top_or_hot":-1,"title":"Co-Diagnostics Inc (CODX) Q3 2024 Earnings Call Highlights: Navigating Revenue Decline and ...","media":"GuruFocus.com","content":"<div>\n<p>Total Revenue: $0.6 million, down from $2.5 million in the prior year same period.\nGrant Revenue: $0.4 million in the third quarter of 2024.\nProduct Revenue: $0.2 million in the third quarter of 2024....</p>\n\n<a href=\"https://finance.yahoo.com/news/co-diagnostics-inc-codx-q3-150311032.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Co-Diagnostics Inc (CODX) Q3 2024 Earnings Call Highlights: Navigating Revenue Decline and ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCo-Diagnostics Inc (CODX) Q3 2024 Earnings Call Highlights: Navigating Revenue Decline and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 23:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/co-diagnostics-inc-codx-q3-150311032.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Total Revenue: $0.6 million, down from $2.5 million in the prior year same period.\nGrant Revenue: $0.4 million in the third quarter of 2024.\nProduct Revenue: $0.2 million in the third quarter of 2024....</p>\n\n<a href=\"https://finance.yahoo.com/news/co-diagnostics-inc-codx-q3-150311032.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CODX","symbol_name":"Co-diagnostics Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/co-diagnostics-inc-codx-q3-150311032.html","article_id":"2481100539","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/gY1zAyP_yM8I1zhtICTwBw--~B/aD0yNDM7dz0yNDM7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/ba002a6338b45ced3986505d6cb81cff"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481100539","pubTimestamp":1731078191,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Total Revenue: $0.6 million, down from $2.5 million in the prior year same period.Grant Revenue: $0.4 million in the third quarter of 2024.Product Revenue: $0.2 million in the third quarter of 2024.Gross Profit: $0.3 million, compared to $2.2 million in the prior year comparable period.Total Operating Expenses: $10.6 million, decreased from $11.1 million in the third quarter of 2023.Research and Development Expenses: $4.9 million, compared to $5.8 million in the prior year period.Income Before Taxes: Loss of $9.7 million, compared to a loss of $8.1 million in the prior year.Net Loss: $9.7 million or $0.32 per fully diluted share, compared to a net loss of $6.0 million or $0.20 per fully diluted share in the prior year.Adjusted EBITDA: Loss of $8.8 million, compared to a loss of $6.5 million in the prior year.Cash, Cash Equivalents, and Marketable Investment Securities: $37.7 million at the end of the quarter.GuruFocus has detected 5 Warning Signs with CODX.Co-Diagnostics Inc  has made ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CODX":"Co-diagnostics Inc."},"translate_title":"Co-Diagnostics Inc(CODX)2024年第三季度收益看涨期权亮点：应对收入下降和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CODX":1},"content_text":"Total Revenue: $0.6 million, down from $2.5 million in the prior year same period.\nGrant Revenue: $0.4 million in the third quarter of 2024.\nProduct Revenue: $0.2 million in the third quarter of 2024.\nGross Profit: $0.3 million, compared to $2.2 million in the prior year comparable period.\nTotal Operating Expenses: $10.6 million, decreased from $11.1 million in the third quarter of 2023.\nResearch and Development Expenses: $4.9 million, compared to $5.8 million in the prior year period.\nIncome Before Taxes: Loss of $9.7 million, compared to a loss of $8.1 million in the prior year.\nNet Loss: $9.7 million or $0.32 per fully diluted share, compared to a net loss of $6.0 million or $0.20 per fully diluted share in the prior year.\nAdjusted EBITDA: Loss of $8.8 million, compared to a loss of $6.5 million in the prior year.\nCash, Cash Equivalents, and Marketable Investment Securities: $37.7 million at the end of the quarter.\n\n\nWarning! GuruFocus has detected 5 Warning Signs with CODX.\n\nRelease Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nCo-Diagnostics Inc (NASDAQ:CODX) has made significant progress in developing its Co-Dx PCR platform, which includes a low-cost, easy-to-use, and highly portable point-of-care real-time PCR instrument.\nThe company is actively engaging with the FDA for the clearance of its Co-Dx PCR Pro instrument and COVID-19 test cup for over-the-counter use, which could expand its market reach.\nCo-Diagnostics Inc (NASDAQ:CODX) is targeting international markets with unmet needs, such as Central and South America, Africa, the Middle East, and India, for its tuberculosis, HPV, and respiratory multiplex tests.\nThe company has completed several preliminary analytical studies for its tuberculosis test and plans to initiate clinical trials in South Africa and India in early 2025.\nCo-Diagnostics Inc (NASDAQ:CODX) is expanding its manufacturing capacity with a new facility in India, which will allow for cost-effective in-country manufacturing of its patented co-primer technology.\n\n Negative Points \n\nTotal revenue for the third quarter of 2024 decreased significantly to $0.6 million compared to $2.5 million in the same period last year.\nThe company reported a net loss of $9.7 million for the third quarter of 2024, which is an increase from the $6.0 million loss reported in the prior year.\nGross profit for the quarter decreased to $0.3 million from $2.2 million in the prior year comparable period.\nCo-Diagnostics Inc (NASDAQ:CODX) cannot predict the timeline or outcomes of the FDA review process for its Co-Dx PCR platform, which adds uncertainty to its regulatory approval path.\nThe company is facing challenges in maintaining a healthy balance sheet, with a focus on managing cash position and reducing expenses to position itself for future growth.\n\n Q & A Highlights \nQ: Are you able to disclose any feedback from the FDA for the 510-K application? A: Co-Diagnostics has remained in discussions with the FDA regarding our submission, but we can't comment on regulatory decisions or timelines. Our focus has broadened to other geographic regions with large unmet needs, such as Central and South America, Africa, the Middle East, and India, where we see significant opportunities for our platform's commercial adoption. - Dwight H. Egan, CEO\nQ: How is your demand split between the US and other global customers? Do you feel that you have the most opportunity outside of the US? A: Historically, our revenues have been evenly split between international and domestic customers. The primary markets for Tuberculosis are in countries like India and South Africa, while the US is a key market for our upper respiratory tests and COVID. The broader mix has been about 50-50. - Dwight H. Egan, CEO\nQ: Can you provide an update on the development of your tuberculosis test? A: We have completed several preliminary analytical studies for TB and plan to initiate clinical trials in South Africa and India in early 2025. We aim to pursue regulatory pathways in these regions and engage with NGOs and potential customers to support our go-to-market strategy. - Dwight H. Egan, CEO\nQ: What progress has been made on the HPV multiplex test? A: The HPV multiplex test has been fully ported to test cups for the Co-Dx PCR Pro instrument, and chemistry optimization appears complete. We expect to begin clinical evaluations early next year, initially targeting India and Africa due to higher HPV prevalence. - Dwight H. Egan, CEO\nQ: How is the company managing its financial position given the current revenue decline? A: We continue to manage our spending to maintain a healthy balance sheet, focusing on operational and manufacturing efficiencies while reducing expenses. We are optimistic about 2025 and future developments within our test pipeline. - Brian L. Brown, CFO\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481100539"}