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Co-Diagnostics, Inc.

CODX Healthcare Medical Devices

Co-Diagnostics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $622,500.00, down 84.1% from fiscal 2024.

Revenue
+1.96%
EPS
+78.9%
Free cash flow
+17.5%

Quarter to June 2026, against a year earlier

0.25 0.02 −7.41%
Market cap
$2.4M
P/E
0.0×
Fwd P/E
−0.1×
Dividend yield
—
F-score
2/9
Altman Z
−9.74
Beneish M
2.24
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 2.36
Revenue ttm 0.72
Net income ttm (47.06)
Free cash flow ttm (27.47)
Net debt Q (3.65)
Valuation
P/E 0.00
Forward P/E (0.12) (negative: loss-making)
Price / sales 1.49
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.08
Financial health
Current ratio Q 1.81 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (27.67)
Growth
Revenue growth Q +1.96% (above 0%: growing)
Operating income growth Q +23.05% (above 0%: growing)
EPS, this year +91.21% (at or above 15%: strong)
EPS, next year A +73.23% (at or above 15%: strong)
Revenue, next year A +5.06%
EPS, past 5 yrs —
EPS, next 5 yrs A +80.05% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is −3.6×, against a ten-year median of 1.5×; over the ten years it ranged from −14.2× in 2026 to 2,598× in 2018.
P/S against its own 10 years 2.22%
10-year low 10-year high
P/B against its own 10 years 0.04%
10-year low 10-year high
EV/FCF against its own 10 years 5.80%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 59 30 12 4
Receivables 0 0 0 0
Inventory 2 1 1 1
Other — — — —
62 32 14 5
2023 2024 2025 Q'26
Payables 1 3 2 1
ST’ Debt — — — —
Other 1 1 0 0
6 7 4 3

Compound Annual Growth %

10y 5y 3y
Sales — (61.60%) (73.70%)
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — (20.92%) (43.52%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY25 Estimate −5.71 Actual −4.80

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY24 −10.21 −10.81 Miss by 0.60
Q1 FY25 −9.91 −7.21 Beat by 2.70
Q2 FY25 −7.51 −6.91 Beat by 0.60
Q3 FY25 −5.71 −4.80 Beat by 0.91

EPS $

Mar Jun Sep Dec Year
’26 (4.06) (1.46) — — —
’25 (7.21) (6.91) (4.80) (13.64) (35.25)
’24 (9.31) (7.51) (9.61) (10.81) (37.24)
’23 (6.01) (9.31) (6.01) (15.01) (36.04)
’22 10.21 (2.40) (1.20) (20.42) (13.51)
’21 7.81 9.91 11.41 7.51 36.94
’20 (1.50) 12.91 15.92 12.91 45.65
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 0 0 — — —
’25 0 0 0 0 1
’24 0 3 1 0 4
’23 1 0 2 4 7
’22 23 5 5 1 34
’21 20 27 30 20 98
’20 2 24 22 27 75
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (8) (7) — — —
’25 (9) (8) (6) (6) (29)
’24 (8) (5) (7) (8) (29)
’23 (6) (6) (6) (5) (22)
’22 8 2 1 (4) 7
’21 12 12 12 5 41
’20 (1) 1 9 20 28
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (8) (7) — — —
’25 (9) (9) (6) (6) (30)
’24 (9) (5) (7) (8) (30)
’23 (6) (6) (6) (5) (23)
’22 7 1 1 (4) 5
’21 12 12 11 5 40
’20 (1) 1 8 19 27
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — 0 0 0 75 98 34 7 4 1 1 +73.2% 1 17 60 +357.2%
Gross margin, % 0.00 96.10 76.44 47.67 77.75 88.18 83.98 38.57 74.48 64.27 43.47 +64.3 pt
EBT (2) (7) (6) (6) 43 46 (19) (38) (38) (49) (49) +43.1%
EBT margin, % 0.00 (90,379.22) (15,718.55) (2,881.67) 57.10 46.62 (55.08) (559.46) (959.89) (7,793.08) (6,747.56) (7,793.1) pt
Net income (2) (7) (6) (6) 42 37 (14) (35) (38) (47) (47) +42.6%
Per share, $
Per share, $ Revenue 0.00 0.02 0.10 0.39 83.79 101.81 32.64 6.97 3.87 0.47 0.17 n/m
Earnings (5.86) (19.07) (14.57) (10.81) 47.75 38.14 (13.51) (36.04) (37.24) (35.25) (23.97) +22.1%
Cash flow (3.99) (8.80) (9.81) (9.90) 31.65 42.73 6.27 (22.60) (28.83) (21.90) (6.29) +20.8%
Capex (0.04) (0.35) (0.10) (0.20) (0.87) (0.70) (1.36) (1.40) (0.74) (0.53) (0.09) +34.3%
Free cash flow (4.02) (9.15) (9.91) (10.10) 30.78 42.03 4.90 (23.99) (29.57) (22.43) (6.37) +21.0%
Book value (9.10) 10.55 (2.55) 3.11 74.96 139.86 109.24 88.02 53.28 15.51 2.95 n/m
Shares, m 0 0 0 1 1 1 1 1 1 1 2 +16.8%
Valuation, ×
Valuation, × P/E — 0.00 0.00 0.00 6.50 6.97 0.00 0.00 0.00 0.00 0.00 1.5
P/S — 0.00 465.82 69.69 3.33 2.63 2.33 6.11 5.81 10.83 1.49 62.9
P/B — 7.85 0.00 8.62 3.72 1.92 0.69 0.48 0.42 0.33 0.08 2.7
EV/Sales — 0.00 442.01 65.53 2.70 1.71 (0.05) (2.48) (1.79) (8.26) (3.57) 55.5
EV/FCF — (7.99) (4.28) (2.48) 7.34 4.15 (0.33) 0.72 0.23 0.17 0.09 (0.3)
Cash, $m
Cash, $m Operating cash flow (1) (3) (4) (6) 28 41 7 (22) (29) (29) (27) +41.1%
Capex 0 0 0 0 (1) (1) (1) (1) (1) (1) 0 +56.8%
Free cash flow (1) (3) (4) (6) 27 40 5 (23) (30) (30) (27) +41.4%
Balance, $m
Balance, $m Working capital (3) 4 (1) 1 64 103 89 56 25 10 2 n/m
Net debt (1) (4) (1) (1) (47) (90) (81) (59) (30) (12) (4) +40.6%
Shareholders’ equity (3) 4 (1) 2 67 134 115 86 54 21 13 n/m
Returns, %
Returns, % ROA (64.74) (233.60) (201.81) (328.81) 115.66 31.70 (10.06) (32.36) (47.38) (106.21) (149.25) (41.5) pt
ROIC 0.00 (902.71) 0.00 (436.34) 134.43 64.53 (50.70) (97.18) (103.83) (358.57) (337.68) (358.6) pt
ROE (450.68) (1,626.17) (449.31) (1,826.53) 124.14 36.45 (11.44) (35.24) (53.81) (125.89) (174.77) +324.8 pt
People
People Employees — 15 20 23 37 101 145 155 132 115 — +29.0%
Revenue/emp, $m — 0.00 0.00 0.01 2.01 0.97 0.24 0.04 0.03 0.01 — +34.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Co-Diagnostics, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AMIX Autonomix Medical, Inc. $3.0M — (loss-making) — — n/m −36.10% (below 0%: shrinking) — 0.00% Compare
NUWE Nuwellis, Inc. $2.5M — (loss-making) — (loss-making) +14.14% (above 0%: growing) n/m −51.55% (below 0%: shrinking) 76.08% (160.94%) Compare
AIDX 20/20 Biolabs Inc. $2.5M — (loss-making) — (loss-making) — n/m −23.98% (below 0%: shrinking) 41.71% (170.30%) Compare
BJDX Bluejay Diagnostics, Inc. $2.5M — (loss-making) — (loss-making) — n/m +20.05% (above 0%: growing) 0.00% 0.00% Compare
IVF INVO Fertility, Inc $2.4M — (loss-making) — (loss-making) +16.73% (above 0%: growing) n/m +35.07% (above 0%: growing) 35.06% (59.28%) Compare
CODX Co-Diagnostics, Inc. $2.4M — (loss-making) — (loss-making) +1.96% (above 0%: growing) n/m +17.47% (above 0%: growing) 72.73% (3,733.17%)
ICCM IceCure Medical Ltd. $2.4M — (loss-making) — (loss-making) −0.69% (below 0%: shrinking) n/m +3.88% (above 0%: growing) 32.38% (466.19%) Compare
NUVOQ Holdco Nuvo Group D.G Ltd. $2.1M — (loss-making) — — n/m −1.05% (below 0%: shrinking) 0.00% 0.00% Compare
ADGM Adagio Medical Holdings, Inc. $1.7M — (loss-making) — −33.50% (below 0%: shrinking) n/m −12.86% (below 0%: shrinking) 0.00% 0.00% Compare
Median of peers $2.4M — — +6.73% — −6.95% 32.38% (29.64%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 21 July 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 528.75k 276.45k 13.00
2024 716.92k 421.35k 56.00

Ownership

Directors and executive officers, together 2.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Co-Diagnostics, Inc. (CODX) Latest News

29 Oct

Impact 3 · · PR Newswire

27 Oct

Impact 4 · · Benzinga
Impact 4 · · PR Newswire

20 Oct

Impact 4 · · PR Newswire

15 Oct

Impact 3 · · PR Newswire

8 Oct

Impact 3 · · PR Newswire

7 Oct

Impact 4 · · PR Newswire

6 Oct

Impact 3 · · PR Newswire

23 Sep

Impact 3 · · PR Newswire

21 Sep

Impact 3 ·

16 Sep

Impact 3 ·

3 Sep

Impact 4 ·

1 Sep

Impact 3 ·

20 Aug

Impact 4 · · The Motley Fool transcript

14 Aug

Impact 4 · · Moby transcript
Impact 4 · transcript

13 Aug

Impact 3 ·

6 Aug

Impact 4 ·

29 Jul

Impact 3 ·

28 Jul

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22 Jul

Impact 3 ·
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1 Jul

Impact 4 ·
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18 Jun

Impact 3 ·

11 Jun

Impact 3 ·

2 Jun

Impact 3 · · PR Newswire

28 May

Impact 3 · · MarketBeat

27 May

Impact 4 · · The Motley Fool transcript

26 May

Impact 3 · · Stocktwits
stockrow.com/CODX · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com