Overview

• US molecular diagnostics firm's Q1 revenue rose yr/yr, but net loss widened

• Higher operating expenses driven by R&D spending increased operating and adjusted EBITDA losses

• Company expanded regulatory approvals and commercial presence in India and South Asia

Outlook

• Co-Diagnostics advancing toward FDA 510(k) submission for upper respiratory multiplex test

• Company preparing to initiate clinical performance studies for tuberculosis program in India

Result Drivers

• HIGHER R&D SPENDING - Increased research and development expenses for clinical studies and growth initiatives drove higher operating costs

• REGULATORY AND COMMERCIAL EXPANSION - Company cited regulatory approvals and expanded distribution agreements in India and South Asia as supporting commercialization efforts

Company press release: ID:nPn60Kw8La

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$150,000
Q1 EPS		-$4.06
Q1 Net Income		-$9.10 mln
Q1 Adjusted EBITDA		-$8.70 mln
Q1 Operating Expenses		$9.20 mln
Q1 Operating Income		-$9.20 mln

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

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