CDI(CODX)

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CDI(CODX) - 2021 Q3 - Quarterly Report
2021-11-11 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock CODX The Nasdaq Capital Market Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☒ Emerging growth company ☒ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 1 ...
CDI(CODX) - 2021 Q2 - Earnings Call Transcript
2021-08-13 02:02
Financial Data and Key Metrics Changes - In Q2 2021, revenue reached $27.4 million, an increase of $3.3 million or 13.8% from $24 million in Q2 2020, primarily driven by continued sales of the Logix Smart COVID-19 test [26] - Gross profit for the quarter increased by $6.8 million or 37.6% to $24.9 million, up from $18.1 million in the same quarter last year [26] - Year-to-date revenue grew to $47.4 million, an increase of $21.8 million or 85.2%, with gross profit up more than 100% to $41.6 million [28] Business Line Data and Key Metrics Changes - The company achieved record sales in Q2, with international sales exceeding domestic sales, reflecting strong international partnerships [9] - CoSara, the joint venture in India, reported a profitable quarter driven by demand for COVID-19 tests and other diagnostics [12] - The company plans to expand its product offerings to serve the centralized laboratory segment and the at-home and point-of-care market with the Eikon platform [14] Market Data and Key Metrics Changes - The demand for COVID-19 testing remains strong due to the emergence of variants and the need for ongoing testing despite widespread vaccination [20][21] - The company has sold over 20 million Logix Smart COVID-19-related products, indicating robust market demand [10] - The company anticipates third-quarter revenue between $23 million and $25 million, reflecting continued strong domestic and international demand [38] Company Strategy and Development Direction - The company aims to become a leading global molecular diagnostics company, leveraging its clean balance sheet and strong cash accumulation [9] - The Eikon platform is designed to operationalize testing in at-home and point-of-care settings, with a focus on speed, accuracy, and cost-effectiveness [24] - The company is expanding its menu of tests beyond COVID-19 to include various infectious diseases and cancer detection [17] Management's Comments on Operating Environment and Future Outlook - Management believes that mass vaccination will not eliminate the need for testing, emphasizing the importance of ongoing testing in various settings [20][21] - The company is optimistic about the potential contribution of the Eikon platform to future growth, with plans for regulatory submissions in Q4 [48] - Management expressed confidence in the company's ability to generate solid financial results for the second half of 2021 [37] Other Important Information - The company reported total operating expenses of $13.1 million for Q2, up from $3.4 million in the same quarter last year, driven by increased sales and marketing and R&D expenses [28] - The balance sheet strengthened with cash, cash equivalents, and marketable securities totaling $72.4 million at June 30, 2021, an increase of $25 million from December 31, 2020 [34] - The company has no debt, allowing it to focus on launching the Eikon product without financial distractions [55] Q&A Session Summary Question: Long-term view of COVID-19 diagnostic market demand - Management believes that testing will continue to be necessary despite widespread vaccination, especially with the emergence of new variants [41][42] Question: Current estimated timeframe for Eikon to enter the market - The company anticipates submitting for FDA EUA by the end of Q4 2021, with ongoing clinical trials [48][49] Question: Plans for cash reserves - The company intends to use its cash reserves to support the ambitious international launch of the Eikon product [55] Question: Dynamics behind sales fall-off in the U.S. - The decline in U.S. sales is attributed to widespread vaccination and the normalization of activities, but ongoing testing remains essential due to variants [61][63]
CDI(CODX) - 2021 Q2 - Quarterly Report
2021-08-11 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock CODX NASDAQ-CM Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☒ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...
CDI(CODX) - 2021 Q1 - Earnings Call Transcript
2021-05-14 02:35
Co-Diagnostics, Inc. (NASDAQ:CODX) Q1 2021 Earnings Conference Call May 13, 2021 4:30 PM ET Company Participants Andrew Benson - Head of IR Dwight Egan - CEO Brian Brown - CFO Conference Call Participants Yi Chen - H.C. Wainwright Theodore O'Neill - Litchfield Hills Research Operator Good day, and welcome to the Co-Diagnostics First Quarter 2021 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Ope ...
CDI(CODX) - 2021 Q1 - Quarterly Report
2021-05-13 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 001-38148 CO-DIAGNOSTICS, INC. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | --- | --- | |--- ...
CDI(CODX) - 2020 Q4 - Earnings Call Transcript
2021-03-26 02:12
Co-Diagnostics, Inc. (NASDAQ:CODX) Q4 2020 Results Earnings Conference Call March 25, 2021 4:30 PM ET Company Participants Andrew Benson - Head of Investor Relations Dwight Egan - Chairman, CEO & President Brian Brown - CFO Reed Benson - Secretary & General Counsel Conference Call Participants Yi Chen - H.C. Wainwright Theodore O'Neill - Litchfield Hills Research Operator Good afternoon, and welcome to the Co-Diagnostics Fourth Quarter and Full Year 2020 Earnings Conference Call. All participants will be in ...
CDI(CODX) - 2020 Q4 - Annual Report
2021-03-25 20:16
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549. Form 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______to_______ | --- | --- | --- | --- | |---------------------------------------------------|--------------------------------------------------------------- ...
CDI(CODX) - 2020 Q3 - Earnings Call Transcript
2020-11-17 03:06
Co-Diagnostics, Inc. (NASDAQ:CODX) Q3 2020 Earnings Conference Call November 16, 2020 4:30 PM ET Company Participants Dwight Egan - Chairman, CEO & President Reed Benson - CFO & Secretary Conference Call Participants Theodore O'Neill - Litchfield Hills Research Yi Chen - H.C. Wainwright & Co. Operator Good afternoon, and welcome to the Co-Diagnostics Third Quarter 2020 Earnings Conference Call. [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the conference over ...
CDI(CODX) - 2020 Q3 - Quarterly Report
2020-11-16 21:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share CODX NASDAQ-CM Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Smaller reporting company [X] Emerging growth company [X] FORM 10-Q [X] Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2020 OR [ ] Transition re ...
CDI(CODX) - 2020 Q2 - Earnings Call Transcript
2020-08-17 23:30
Co-Diagnostics Inc. (NASDAQ:CODX) Q2 2020 Earnings Conference Call August 13, 2020 4:30 PM ET Company Participants Andrew Benson - IR Dwight H Egan - CEO Reed Benson - CFO Conference Call Participants Yi Chen - HC Wainwright Michael Okunewitch - Maxim Group Theodore O'Neill - Litchfield Hills Research Operator Good afternoon, everyone, and welcome to the Co-Diagnostics Q2 2020 Earnings Conference Call. All participants are currently in a listen only mode. [Operator instructions] Please also note today's eve ...