Co-Diagnostics Inc (CODX)

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Co-Diagnostics Q2 revenues down 61%; shares down 16% after hours
Aug. 13, 2020 4:46 PM ET|About: Co-Diagnostics, Inc. (CODX)|By: Douglas W. House, SA News Editor
Co-Diagnostics (NASDAQ:CODX) Q2 results:

Revenue: $24.0M (-61.0%). Revenue largely comprised on COVID-19 test sales. 2019 sales of $61.6M were driven by the sale of two MDx devices to mosquito abatement districts and service revenue related to the design of custom tests for a large agricultural company.

Net income: $12.6M (+999%); EPS: $0.43 (+637.5%).

Cash consumption (6 mo.): ($0.3M) (+88.9%).

Final stages of principal design work and verification of multiplex panel for influenza A&B and COVID-19. Deployment planned this quarter.

Shares down 16% after hours.

Co-Diagnostics EPS misses by $0.16, misses on revenue

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