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CODX 
Co-Diagnostics Inc (CODX)
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Stock price based on last close (see disclosures)
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Upturn Advisory Summary
11/28/2025: CODX (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
2 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $1.5
1 Year Target Price $1.5
| 1 | Strong Buy |
| 0 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -37.55% | Avg. Invested days 31 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/28/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 22.57M USD | Price to earnings Ratio - | 1Y Target Price 1.5 |
Price to earnings Ratio - | 1Y Target Price 1.5 | ||
Volume (30-day avg) 2 | Beta 1.15 | 52 Weeks Range 0.23 - 1.55 | Updated Date 11/30/2025 |
52 Weeks Range 0.23 - 1.55 | Updated Date 11/30/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.98 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-11-06 | When - | Estimate -0.155 | Actual -0.1554 |
Profitability
Profit Margin - | Operating Margin (TTM) -4824.49% |
Management Effectiveness
Return on Assets (TTM) -37.92% | Return on Equity (TTM) -62.12% |
Valuation
Trailing PE - | Forward PE 16 | Enterprise Value 12594946 | Price to Sales(TTM) 44.43 |
Enterprise Value 12594946 | Price to Sales(TTM) 44.43 | ||
Enterprise Value to Revenue 24.8 | Enterprise Value to EBITDA 0.52 | Shares Outstanding 60892582 | Shares Floating 54057999 |
Shares Outstanding 60892582 | Shares Floating 54057999 | ||
Percent Insiders 5.08 | Percent Institutions 18.29 |
Upturn AI SWOT
Co-Diagnostics Inc
Company Overview
History and Background
Co-Diagnostics, Inc. was founded in 2013. It focuses on developing and manufacturing molecular diagnostic solutions, primarily for infectious diseases. Initially focused on creating affordable and accessible diagnostic tests, the company gained significant traction during the COVID-19 pandemic.
Core Business Areas
- MDx Solutions: Development, manufacturing, and sales of molecular diagnostic tests (MDx), primarily for infectious diseases like COVID-19, influenza, and tuberculosis.
- CoPrimer Technology: Offers CoPrimer technology, a proprietary platform designed to enhance the specificity and sensitivity of PCR-based diagnostic tests.
- At-Home and Point-Of-Care Solutions: The company makes at home and point of care tests for direct sales
Leadership and Structure
Dwight Egan serves as CEO. The company operates with a board of directors and a management team responsible for strategic planning, product development, and sales & marketing. The company also works with strategic partners.
Top Products and Market Share
Key Offerings
- Logix Smart COVID-19 Test: A PCR-based diagnostic test for detecting SARS-CoV-2. While specific market share is not publicly available, the product experienced high demand during the pandemic. Competitors include Roche, Abbott, and Thermo Fisher Scientific. Revenue generated has decreased significantly after the COVID-19 pandemic.
- Other Infectious Disease Tests (e.g., Flu A/B, Tuberculosis): Co-Diagnostics offers a range of other diagnostic tests for infectious diseases. Market share for these products varies. Competitors also include QuidelOrtho and Hologic.
Market Dynamics
Industry Overview
The molecular diagnostics industry is growing, driven by increasing demand for rapid and accurate diagnostic testing, particularly for infectious diseases and genetic disorders. Key trends include the rise of point-of-care testing and advancements in PCR technology.
Positioning
Co-Diagnostics focuses on providing affordable and accessible molecular diagnostic solutions. Its competitive advantage lies in its CoPrimer technology, which enhances the specificity and sensitivity of PCR tests.
Total Addressable Market (TAM)
The global molecular diagnostics market size was valued at $10.55 billion in 2022 and is projected to grow at a CAGR of 9.5% from 2023 to 2030. Co-Diagnostics is positioned to capture a share of this market through continued innovation and expansion of its product portfolio.
Upturn SWOT Analysis
Strengths
- Proprietary CoPrimer Technology
- Agile product development
- Experienced management team
- Expanding global distribution network
Weaknesses
- High reliance on COVID-19 test sales (Revenue decreases dramatically after Covid)
- Limited brand recognition compared to larger competitors
- Smaller R&D budget compared to major players
Opportunities
- Expanding product portfolio beyond COVID-19
- Partnerships with global healthcare organizations
- Increasing demand for point-of-care diagnostics
- Opportunities in new markets (e.g., cancer diagnostics)
Threats
- Competition from larger, more established companies
- Declining demand for COVID-19 testing
- Regulatory changes in the diagnostics industry
- Potential intellectual property infringement
Competitors and Market Share
Key Competitors
- Roche Holding AG (RHHBY)
- Abbott Laboratories (ABT)
- Thermo Fisher Scientific (TMO)
Competitive Landscape
Co-Diagnostics faces intense competition from larger, more established players in the molecular diagnostics market. Its CoPrimer technology and cost-effective solutions offer some competitive advantages, but brand recognition and resources are key disadvantages. With new tests being introduced into the market the company has the potential to improve market share, but must develop the tests and get them approved.
Growth Trajectory and Initiatives
Historical Growth: The company experienced significant growth during the COVID-19 pandemic due to high demand for its Logix Smart COVID-19 test. Revenue growth has decreased since the pandemic has waned.
Future Projections: Future growth projections are based on analyst estimates, which are subject to change. The company aims to expand its product portfolio and global reach.
Recent Initiatives: Recent strategic initiatives include expanding product offerings, entering new markets, and seeking partnerships to broaden distribution. The company is also focusing on at-home and point-of-care solutions
Summary
Co-Diagnostics experienced substantial revenue growth during the COVID-19 pandemic due to high demand for its testing solutions. However, revenue has since decreased, and its success hinges on diversifying its product line and expanding its market presence. Co-Diagnostics' proprietary technology gives it a competitive edge, but it faces challenges from larger competitors and rapidly evolving market dynamics. The success of at-home testing or point of care test could provide some additional growth.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Website
- Company SEC Filings
- Industry Reports (e.g., Market Research Future, Grand View Research)
- Analyst Reports (e.g., Yahoo Finance, MarketWatch)
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor. Market data and competitor analysis are estimates and may vary. Financial data and analyst estimates are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Co-Diagnostics Inc
Exchange NASDAQ | Headquaters Salt Lake City, UT, United States | ||
IPO Launch date 2017-07-12 | Chairman & CEO Mr. Dwight H. Egan | ||
Sector Healthcare | Industry Medical Devices | Full time employees 132 | Website https://co-dx.com |
Full time employees 132 | Website https://co-dx.com | ||
Co-Diagnostics, Inc. operates as a molecular diagnostics company that develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. The company offers Co-Dx PCR platform, a polymerase chain reaction testing to patients in point-of-care and at-home setting. It also provides PCR diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus. In addition, the company offers three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications; tests that identify genetic traits in plant and animal genomes; and portable diagnostic device designed to bring PCR to patients in point-of-care and at-home settings. The company was incorporated in 2013 and is based in Salt Lake City, Utah.
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