$CODX
Co-Diagnostics Inc Stock $codx

$codx Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-Q Financial Statement

#000149315224030758 Filed on August 08, 2024

Income Statement

Concept	2024 Q3	2024 Q2
Revenue	$641.1K	$2.657M
YoY Change	-73.91%	1243.15%
Cost Of Revenue	$297.4K	$212.1K
YoY Change	16.28%	-53.79%
Gross Profit	$343.7K	$2.445M
YoY Change	-84.38%	-1035.63%
Gross Profit Margin	53.61%	92.02%
Selling, General & Admin	$5.347M	$4.174M
YoY Change	5.84%	-23.38%
% of Gross Profit	1555.58%	170.72%
Research & Development	$4.880M	$5.613M
YoY Change	-15.69%	-6.16%
% of Gross Profit	1419.78%	229.59%
Depreciation & Amortization	$351.2K	$338.3K
YoY Change	17.08%	10.84%
% of Gross Profit	102.18%	13.84%
Operating Expenses	$10.58M	$10.12M
YoY Change	-5.02%	-13.71%
Operating Profit	-$10.23M	-$7.680M
YoY Change	14.54%	-35.97%
Interest Expense	$569.1K	$341.9K
YoY Change	-18.7%	-28.47%
% of Operating Profit
Other Income/Expense, Net	$560.7K	$101.2K
YoY Change	-33.27%	-87.91%
Pretax Income	-$9.674M	-$7.579M
YoY Change	19.5%	-32.07%
Income Tax	$22.19K	$20.59K
% Of Pretax Income
Net Earnings	-$9.696M	-$7.599M
YoY Change	62.09%	-14.79%
Net Earnings / Revenue	-1512.37%	-286.03%
Basic Earnings Per Share	-$0.32	-$0.25
Diluted Earnings Per Share	-$0.32	-$0.25
COMMON SHARES
Basic Shares Outstanding	31.91M shares	31.28M shares
Diluted Shares Outstanding	30.49M shares	30.12M shares

Balance Sheet

Concept	2024 Q3	2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$37.66M	$44.88M
YoY Change	-40.62%	-35.09%
Cash & Equivalents	$10.80M	$13.86M
Short-Term Investments	$26.86M	$31.02M
Other Short-Term Assets	$996.7K	$1.324M
YoY Change	-23.33%	34.84%
Inventory	$1.266M	$1.464M
Prepaid Expenses
Receivables	$178.2K	$551.5K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$40.10M	$48.22M
YoY Change	-43.76%	-37.69%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.984M	$3.054M
YoY Change	6.26%	9.28%
Goodwill
YoY Change
Intangibles	$26.18M	$26.25M
YoY Change	-1.14%	-1.14%
Long-Term Investments	$784.4K	$627.9K
YoY Change	-1.96%	-23.87%
Other Assets
YoY Change
Total Long-Term Assets	$32.28M	$32.48M
YoY Change	-13.63%	-8.28%
TOTAL ASSETS
Total Short-Term Assets	$40.10M	$48.22M
Total Long-Term Assets	$32.28M	$32.48M
Total Assets	$72.38M	$80.70M
YoY Change	-33.4%	-28.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.176M	$1.863M
YoY Change	53.66%	8.84%
Accrued Expenses	$1.826M	$1.505M
YoY Change	-0.02%	-7.61%
Deferred Revenue	$60.48K	$220.9K
YoY Change	-82.7%	-14.37%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$5.798M	$5.305M
YoY Change	13.74%	3.71%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$2.799M	$2.998M
YoY Change	-31.73%	-29.5%
Total Long-Term Liabilities	$2.799M	$2.998M
YoY Change	-31.63%	-29.5%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.798M	$5.305M
Total Long-Term Liabilities	$2.799M	$2.998M
Total Liabilities	$8.597M	$8.304M
YoY Change	-6.47%	-11.37%
SHAREHOLDERS EQUITY
Retained Earnings	-$22.01M	-$12.31M
YoY Change	-214.19%	-148.75%
Common Stock	$36.78K	$36.76K
YoY Change	3.99%	3.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$15.58M	$15.58M
YoY Change	1.04%	2.14%
Treasury Stock Shares
Shareholders Equity	$63.78M	$72.40M
YoY Change
Total Liabilities & Shareholders Equity	$72.38M	$80.70M
YoY Change	-33.4%	-28.46%

Cashflow Statement

Concept	2024 Q3	2024 Q2
OPERATING ACTIVITIES
Net Income	-$9.696M	-$7.599M
YoY Change	62.09%	-14.79%
Depreciation, Depletion And Amortization	$351.2K	$338.3K
YoY Change	17.08%	10.84%
Cash From Operating Activities	-$7.230M	-$5.204M
YoY Change	9.7%	-0.1%
INVESTING ACTIVITIES
Capital Expenditures	$174.5K	$98.63K
YoY Change	-27.31%	-79.63%
Acquisitions
YoY Change
Other Investing Activities	$4.343M	-$3.938M
YoY Change	27.73%	-128.7%
Cash From Investing Activities	$4.168M	-$4.036M
YoY Change	31.49%	-130.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	0.000
YoY Change	-100.0%	-100.0%
NET CHANGE
Cash From Operating Activities	-7.230M	-5.204M
Cash From Investing Activities	4.168M	-4.036M
Cash From Financing Activities	0.000	0.000
Net Change In Cash	-3.061M	-9.240M
YoY Change	-14.49%	-223.68%
FREE CASH FLOW
Cash From Operating Activities	-$7.230M	-$5.204M
Capital Expenditures	$174.5K	$98.63K
Free Cash Flow	-$7.404M	-$5.303M
YoY Change	8.4%	-6.86%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Entity Central Index Key EntityCentralIndexKey	0001692415
CY2024Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2024Q2	us-gaap	Preferred Stock Value PreferredStockValue		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2024-06-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-38148
	dei	Entity Registrant Name EntityRegistrantName	CO-DIAGNOSTICS, INC.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	UT
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	46-2609396
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite D
	dei	Entity Address City Or Town EntityAddressCityOrTown	Salt Lake City
	dei	Entity Address State Or Province EntityAddressStateOrProvince	UT
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	84109
	dei	City Area Code CityAreaCode	(801)
	dei	Local Phone Number LocalPhoneNumber	438-1036
	dei	Security12b Title Security12bTitle	Common Stock
	dei	Trading Symbol TradingSymbol	CODX
	dei	Security Exchange Name SecurityExchangeName	NASDAQ
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
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	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	29284175	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29284175	shares
	us-gaap	Net Income Loss NetIncomeLoss	-16911361	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	668908	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	3070892	usd
	CODX	Gain On Remeasurement Of Acquisition Contingencies GainOnRemeasurementOfAcquisitionContingencies	206144	usd
	CODX	Noncash Lease Expense NoncashLeaseExpense	10613	usd
	us-gaap	Realized Investment Gains Losses RealizedInvestmentGainsLosses	302235	usd
	us-gaap	Gain Loss On Sale Of Investments GainLossOnSaleOfInvestments	-145458	usd
	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	3500	usd
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-4430168	usd
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	-40944	usd
	us-gaap	Inventory Write Down InventoryWriteDown	84430	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	206634	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-299970	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-116335	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-141519	usd
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	39927	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-318728	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-13694532	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	500922	usd
	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	26836743	usd
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	13699301	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	12636520	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	3433041	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1037930	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1037930	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1058012	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-9142957	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	14916878	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	22973803	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	13858866	usd
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	800	usd
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	49197	usd
	CODX	Noncash Or Part Noncash Inventory Moved To Property Plant And Equipment NoncashOrPartNoncashInventoryMovedToPropertyPlantAndEquipment	673	usd
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	3063782	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	86013615	usd
CY2024Q1	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	1571234	usd
CY2024Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	79855	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-9312043	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	78352661	usd
CY2024Q2	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	1499658	usd
CY2024Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	144653	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	-7599318	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	72397654	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	114519994	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	2168742	usd
CY2023Q1	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	482196	usd
CY2023Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	178621	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-5755391	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	110629770	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	110629770	usd
CY2023Q2	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	2169801	usd
CY2023Q2	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	555734	usd
CY2023Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	107366	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-8918825	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	103432378	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	103432378	usd
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<p id="xdx_841_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zXcTYl7oW5Mk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zQ23jR5uglzk">Reclassifications</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified to conform with the current year’s presentation. These reclassifications have no impact on the previously reported results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	710898	usd
CY2024Q2	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	159394	usd
CY2024Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	551504	usd
CY2023Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	504264	usd
CY2023Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	200338	usd
CY2023Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	303926	usd
CY2024Q2	us-gaap	Inventory Net InventoryNet	1463960	usd
CY2024Q2	us-gaap	Inventory Finished Goods InventoryFinishedGoods	620825	usd
CY2024Q2	us-gaap	Inventory Raw Materials InventoryRawMaterials	843135	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	1664725	usd
CY2023Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	700467	usd
CY2023Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	964258	usd
CY2024Q2	CODX	Change In Inventory Reserves ChangeInInventoryReserves	24333	usd
	CODX	Change In Inventory Reserves ChangeInInventoryReserves	287006	usd
CY2023Q2	CODX	Change In Inventory Reserves ChangeInInventoryReserves	198978	usd
	CODX	Change In Inventory Reserves ChangeInInventoryReserves	242695	usd
CY2024Q2	CODX	Grant Funding Revenue GrantFundingRevenue	2495738	usd
	CODX	Grant Funding Revenue GrantFundingRevenue	2710847	usd
CY2023Q2	CODX	Grant Funding Revenue GrantFundingRevenue	0	usd
	CODX	Grant Funding Revenue GrantFundingRevenue	0	usd
CY2024Q2	us-gaap	Deferred Revenue DeferredRevenue	127710	usd
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zCxqM4XVASH6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zNuiSqBFnUIj">Concentrations Risk and Significant Customers</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had certain customers which were each responsible for generating <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zheyCkxWS0W1" title="Concentration risk percentage"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--CustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_ztRxVGEnyUei" title="Concentration risk percentage">10</span></span>% or more of the total revenue for the three and six months ended June 30, 2024. Two customers accounted for approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zXiHhZR2RPch" title="Concentration risk percentage">37</span>% of product revenue, and two granting agencies accounted for approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20240630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--GrantRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zXEsWFCjd9Cf" title="Concentration risk percentage">94</span>% of the grant revenue recognized during the three months ended June 30, 2024. One customer accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zxg22kKgPG34" title="Concentration risk percentage">29</span>% of product revenue, and two granting agencies accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--GrantRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zlCw8IE1oURb" title="Concentration risk percentage">94</span>% of grant revenue recognized during the six months ended June 30, 2024. Three customers accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20230630__srt--MajorCustomersAxis__custom--ThreeCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zr0xpya4uUVe" title="Concentration risk percentage"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__srt--MajorCustomersAxis__custom--ThreeCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zHsj26XT4gej" title="Concentration risk percentage">44</span></span>% of product revenue and two customers accounted for approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpZAws7BFkS6" title="Concentration risk percentage"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20230630__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zM8ya0RIWZG3" title="Concentration risk percentage">33</span></span>% of product revenue recognized for the three and six months ended June 30, 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Four customers accounted for more than <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--FourCustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_zc7iVfFm1kw1" title="Concentration risk percentage">10</span>% of accounts receivable at June 30, 2024 and three customers accounted for more than <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--ThreeCustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_z4XhBY9ri6dd" title="Concentration risk percentage">10</span>% of accounts receivable at December 31, 2023. These customers together accounted for approximately <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__srt--MajorCustomersAxis__custom--CustomersTogetherMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_zQWTNkCXUs5j" title="Concentration risk percentage">89</span>% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomersTogetherMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_zEZrvST4M7eb" title="Concentration risk percentage">97</span>% of accounts receivable at June 30, 2024 and December 31, 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2	us-gaap	Trading Securities Debt Amortized Cost TradingSecuritiesDebtAmortizedCost	44508469	usd
	us-gaap	Marketable Securities Unrealized Gain Loss MarketableSecuritiesUnrealizedGainLoss	371208	usd
CY2024Q2	us-gaap	Trading Securities TradingSecurities	44879677	usd
CY2024Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13858866	usd
CY2024Q2	us-gaap	Marketable Securities MarketableSecurities	31020811	usd
CY2023Q4	us-gaap	Trading Securities Debt Amortized Cost TradingSecuritiesDebtAmortizedCost	58401688	usd
CY2023	us-gaap	Marketable Securities Unrealized Gain Loss MarketableSecuritiesUnrealizedGainLoss	146700	usd
CY2023Q4	us-gaap	Trading Securities TradingSecurities	58548388	usd
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	14916878	usd
CY2023Q4	us-gaap	Marketable Securities MarketableSecurities	43631510	usd
CY2024Q2	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	27195000	usd
CY2024Q2	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	-942667	usd
CY2024Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	26252333	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	27195000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	-791333	usd
CY2023Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	26403667	usd
CY2024Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	151333	usd
CY2024Q2	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	2656840	usd
CY2023Q2	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	197806	usd
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	3124694	usd
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	799763	usd
CY2024Q2	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	2656840	usd
CY2023Q2	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	197806	usd
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	3124694	usd
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	799763	usd
CY2023Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	362449	usd
	us-gaap	Deferred Income Revenue Recognized DeferredIncomeRevenueRecognized	215119	usd
	CODX	Increase Due To Prepayments From Customers IncreaseDueToPrepaymentsFromCustomers	73600	usd
CY2024Q2	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	220930	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	-7599318	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-8918825	usd
	us-gaap	Net Income Loss NetIncomeLoss	-16911361	usd
	us-gaap	Net Income Loss NetIncomeLoss	-14674216	usd
CY2024Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	30124696	shares
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	29088159	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	29983785	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	29284175	shares
CY2024Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	30124696	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29088159	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29983785	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	29284175	shares
CY2024Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.25
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.31
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.56
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.50
CY2024Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.25
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.31
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.56
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.50
CY2024Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
CY2023Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1040572	shares
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.19
CY2023Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue	1.37
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P4Y10M20D
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1040572	shares
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.19
CY2024Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue	1.37
	CODX	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm	P4Y4M17D
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	1040572	shares
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	2.19
CY2024Q2	CODX	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value Exercisable SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueExercisable	1.37
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P4Y4M17D
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber	485000	shares
CY2023Q4	CODX	Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice	8.81
CY2023Q4	CODX	Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageFairValue	1.29
	CODX	Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm1	P3Y
CY2024Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber	485000	shares
CY2024Q2	CODX	Share Based Compensation Arrangement By Share Based Payment Award Options Non Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonOutstandingWeightedAverageExercisePrice	8.81
CY2024Q2	CODX	Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Weighted Average Grant Date Fair Value SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageGrantDateFairValue	1.03
	CODX	Sharebased Compensation Arrangement By Sharebased Payment Award Non Options Outstanding Weighted Average Remaining Contractual Term3 SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm3	P2Y6M
CY2024Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1499658	usd
CY2023Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2169801	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3070892	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4338544	usd
CY2024Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	20590	usd
CY2024Q2	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.003	pure
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	43354	usd
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.003	pure
	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2023Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-2238320	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-4498131	usd
CY2024Q2	us-gaap	Operating Lease Cost OperatingLeaseCost	252646	usd
CY2023Q2	us-gaap	Operating Lease Cost OperatingLeaseCost	62847	usd
	us-gaap	Operating Lease Cost OperatingLeaseCost	503841	usd
	us-gaap	Operating Lease Cost OperatingLeaseCost	150454	usd
CY2024Q2	us-gaap	Short Term Lease Cost ShortTermLeaseCost	12250	usd
CY2023Q2	us-gaap	Short Term Lease Cost ShortTermLeaseCost	48301	usd
	us-gaap	Short Term Lease Cost ShortTermLeaseCost	37789	usd
	us-gaap	Short Term Lease Cost ShortTermLeaseCost	156979	usd
CY2024Q2	us-gaap	Lease Cost LeaseCost	264896	usd
CY2023Q2	us-gaap	Lease Cost LeaseCost	111148	usd
	us-gaap	Lease Cost LeaseCost	541630	usd
	us-gaap	Lease Cost LeaseCost	307433	usd

Files In Submission

Name	View Source	Status
0001493152-24-030758-index-headers.html	Edgar Link	pending
0001493152-24-030758-index.html	Edgar Link	pending
0001493152-24-030758.txt	Edgar Link	pending
0001493152-24-030758-xbrl.zip	Edgar Link	pending
codx-20240630.xsd	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex32-2.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-q.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
codx-20240630_def.xml	Edgar Link	unprocessable
codx-20240630_lab.xml	Edgar Link	unprocessable
codx-20240630_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
form10-q_htm.xml	Edgar Link	completed
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
R32.htm	Edgar Link	pending
R33.htm	Edgar Link	pending
R34.htm	Edgar Link	pending
R35.htm	Edgar Link	pending
R36.htm	Edgar Link	pending
R37.htm	Edgar Link	pending
R38.htm	Edgar Link	pending
R39.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R40.htm	Edgar Link	pending
R41.htm	Edgar Link	pending
R42.htm	Edgar Link	pending
R43.htm	Edgar Link	pending
R44.htm	Edgar Link	pending
R45.htm	Edgar Link	pending
R46.htm	Edgar Link	pending
R47.htm	Edgar Link	pending
R48.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
codx-20240630_cal.xml	Edgar Link	unprocessable

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$CODX
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2024 Q3 Form 10-Q Financial Statement

#000149315224030758 Filed on August 08, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CODX Co-Diagnostics Inc Stock $codx

2024 Q3 Form 10-Q Financial Statement

#000149315224030758 Filed on August 08, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CODX
Co-Diagnostics Inc Stock $codx