Co-Diagnostics Reports 2021 Q1 Earnings and Beats Estimates

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$CODX (Co-Diagnostics Inc) reports Q1 earnings. Earnings per share increased 620.00% year over year to $0.26 beating the estimate of $0.22 by $0.04. Revenue rose by 1192.77% year over year and totaled $20 million beating the estimate of $19 million.

Co-Diagnostics updated the guidance and now expects Q2 EPS to be between $0.19 and $0.23. Q2 revenue is expected to be between $20 and $22 million. And what’s most important: cash and cash equivalents totaled $60.1 million as of March 31, 2021 (a full report is available here: https://ir.codiagnostics.com/sec-filings).

Considering the market cap of just $205 million, the upside potential is crystal clear here. I think we may see +$15 per share again ($7.16 as of May 13, 2021).

For your information, Co-Diagnostics manufactures tests for infectious diseases and mostly capitalized on the ongoing COVID-19 pandemic. They still continue to work on solutions for new coronavirus strains. However, infectious diseases are not the only focus area of the company and their patented solutions may be used in other domains too.

The stock price is up +15% in the premarket.

This is not financial advice. The article is published for information and education purposes only. Before making any investment decision, you may need to do your own due diligence.

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