Co-Diagnostics Q2 revenue rises slightly amid international expansion
CODX•Outlook
- Company expects continued progress on regulatory submissions and international commercialization initiatives
- Co-Diagnostics anticipates further development of its product pipeline and manufacturing capabilities
Overview
- US molecular diagnostics firm Q2 revenue rose slightly yr/yr on higher product sales
- Net loss for Q2 narrowed from prior year as operating expenses declined
- Company advanced FDA submission and expanded manufacturing in Saudi Arabia
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $170,000 | $166,500 (2 Analysts) |
| Q2 Loss Per Share | $1.46 | ||
| Q2 Net Loss | $6.30 mln | ||
| Q2 Adjusted EBITDA | -$5.80 mln | ||
| Q2 Operating Expenses | $6.30 mln | ||
| Q2 Operating Income | -$6.20 mln |
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell".
Result Drivers
- - Co said Q2 revenue increase was primarily driven by higher product revenue
