Co-Diagnostics Inc (CODX)

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Co-Diagnostics to report highest quarterly revenue in Q4 2020
Jan. 06, 2021 10:18 AM ETCo-Diagnostics, Inc. (CODX)By: Dulan Lokuwithana, SA News Editor

Citing preliminary internal financial reporting, Co-Diagnostics (CODX -0.9%) says it expects Q4 2020 revenue to be the highest quarterly revenue in the company’s history.

Estimating a 20 – 25% growth over the Q3 2020 revenue of $21.8M, the revenue projected at $26.2 – 27.3M for the final quarter is on track to exceed the upper end of the analyst forecasts at $24 – 25M, the company said in a statement.

"We believe that the recent global surges of COVID-19 have played a large part in increased quarter-over-quarter revenues beating analyst estimates,” says Dwight Ega, CEO of Co-Diagnostics.

The forecasts suggest that the company could report $73.7 – 74.7M revenue for 2020, over three hundred times the revenue in 2020. The shares of Co-Diagnostics has risen ~1,040.5% over the past 12-months.

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