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This statistic highlights Co-diagnostic’s Revenue by Region, split between the United States, and the Rest of the World, reported on a quarterly basis from Q1 2019 onwards.
The Co-Diagnostic company’s era has wide molecular programs: multiplexing, single nucleotide polymorphism (SNP) and mutation detection, real-time or conventional PCR detection, genotyping, RNA expression, and Sanger or next-generation sequencing. The variety of programs opens doorways for them to increase assessments associated with multiple disciplines: infectious sickness, oncology, transfusion medicine, pharmacogenetics, therapeutics, liquid biopsy, agriculture, or veterinary medicine. The company diagnostics structures permit very rapid, low-value, molecular checking out for organisms and genetic sicknesses with the aid of using automating, traditionally complicated, strategies for the improvement and management of assessments.
|Revenue by Region||Q3 2020||Q2 2021||Q3 2021||Revenue Mix by Region in Q3 2021|
|Rest of world||$7.76||$21.99||$13.19||43.82%|
(All figures are in millions, except percentages)
The total revenue of Co-diagnostics has been on the rise. It rose from $21.82 million in Q3 2020 to $30.10 million in Q3 2021 indicating an increase of 38.03% on a year-on-year basis. It witnessed an increment of 10.01% on a quarterly basis, as compared to $27.36 million in Q2 2021. A major portion of the company’s revenue, accounting for about 56.18% of the total revenue in Q3 2021, is generated by the United States.
Under their EUA, they’re actively promoting their LogixSmart COVID-19 check to CLIA licensed laboratories inside the United States. The CLIA labs qualify their LogixSmart check as a Laboratory Developed Test (LDT), a diagnostic check that has been verified to be used with inside the CLIA lab.
The majority of the total revenue of the company is generated by the United States, contributing about 56.18% in Q3 2021. It had shown an increase of $2.86 million, from $14.05 million in Q3 2020 to $16.91 million in Q3 2021, making an increase of 20.35% on a year-on-year basis. From Q3 2020 to Q2 2021, the revenue witnessed a huge drop of 61.78%. However, it again increased by 214.9% on a quarter-on-quarter basis, as compared to $5.37 million in Q2 2021.
Rest of the world
Molecular diagnostics, along with their assessments, are ruled in Europe with the aid of using the framework for in vitro diagnostics (IVDs), which encompasses diagnostic merchandise along with reagents, instruments, and structures supposed to be used inside the prognosis of sickness. The company has started a reagent apartment application in India with thermocyclers bought from third-birthday celebration providers. The placement of thermocyclers in India has facilitated the sale of the SaraGene COVID-19 assessments in India, which has made Sara Profitable in 2020.
Revenue from Other Countries of the world has a contribution of 43.82% in the total revenue of the company in Q3 2021. It has a revenue of $13.19 million in Q3 2021. This region had its maximum revenue in Q2 2021, a period where the US generated the least revenue. It increased by 69.9% on a year-on-year basis, from $7.76 million in Q3 2020 to $13.19 million in Q3 2021. However, it declined by 40.01% on a quarterly basis, as compared to $21.99 million in Q2 2021.
Co-Diagnostics Inc., an Utah enterprise, is growing sturdy and modern molecular equipment for the detection of infectious sicknesses, liquid biopsy for most cancers screening, and agricultural programs. They increase, manufacture, and promote reagents used for diagnostic assessments that feature the detection and/or evaluation of nucleic acid molecules (DNA or RNA). They also promote diagnostic systems from different producers as self-contained lab structures. These are included in the sale of their assessments.
The company is a molecular diagnostics agency with a unique, patented Polymerase Chain Reaction (“PCR”) checking out era. The company commercialises their modern patented and patent-pending era through sales, improvement, and licensing, to rapidly increase molecular diagnostics which might be greater value-green and carry out higher than conventional technology of the past. The Company’s proprietary molecular diagnostics era is paving the manner for innovation in sickness detection and existing sciences studies through their more suitable detection of genetic material. They own their platform due to which they can accomplish this quicker and greater economically, making an allowance for wider margins even as nevertheless positioning Co-Diagnostics to be the worldwide low-cost leader of molecular diagnostics services. The common stock of the company is publicly traded on the NASDAQ under the symbol “CODX”.
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