Co-Diagnostics second quarter 2026 revenue of $0.17M beat estimates as FDA submission was filed

Co-Diagnostics reported second quarter 2026 revenue of $0.17 million, outperforming the $0.13 million consensus estimate. The company’s net loss narrowed to $1.46 per share compared to the $3.00 loss expected by analysts, though this per-share figure was influenced by a substantial increase in the weighted average shares outstanding compared to the prior year.

Key Highlights

• Formally submitted the FDA 510(k) premarket notification and CLIA Waiver for the Co-Dx PCR Flu A/B & RSV multiplex test.
• Total operating expenses decreased 23% year-over-year to $6.3 million, driven by reduced personnel, legal, and stock-based compensation costs.
• Secured a lease agreement for an industrial site in Sudair Industrial City, Saudi Arabia, to support localized production through the CoMira joint venture.
• Ended the period with $3.6 million in cash following a $3.0 million private placement executed during the quarter.