Co-Diagnostics (CODX) Research & Development (2016 - 2026)
Co-Diagnostics (CODX) recorded Research & Development of $3.57 million in Q3 2026, down 20.2% from $4.48 million a year earlier and down 13.9% from the prior quarter.
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Analysis
Co-Diagnostics (CODX) Research & Development (2016 - 2026) Analysis & Trends
On a TTM basis, Co-Diagnostics' Research & Development came in at $18.76 million as of Sep 30, 2026, down 0.5% year-over-year; for FY2025, it came in at $19.14 million, down 8.8% from FY2024.
- Annual Research & Development has a five-year compound annual growth rate of 43.1% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $20.98 million in FY2024 (-8.6%), $22.96 million in FY2023 (+31.7%), $17.44 million in FY2022 (+16.5%) and $14.96 million in FY2021 (+369.7%).
- The Q3 2026 figure is the lowest quarterly Research & Development since Q4 2021.
- On a year-over-year basis, Research & Development rose in two of the last eight quarters, with an average decline of 8.1%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 117.2% in Q4 2022, against a decline of 22.2% in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $4.15 million (Q2 2026), $5.93 million (Q1 2026) and $5.1 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 259.44 Bn | 236.08 Bn | 5.13 Bn | 348.00 Mn |
| 2 | Abbott Laboratories | 187.98 Bn | 162.45 Bn | 7.39 Bn | 920.00 Mn |
| 3 | Danaher | 163.91 Bn | 143.58 Bn | 3.84 Bn | 433.00 Mn |
| 4 | Intuitive Surgical | 153.75 Bn | 134.17 Bn | 2.08 Bn | 408.30 Mn |
| 5 | Medtronic | 131.67 Bn | 97.80 Bn | 6.34 Bn | 771.00 Mn |
| 6 | Stryker | 117.84 Bn | 104.03 Bn | 4.25 Bn | 433.00 Mn |
| 7 | Boston Scientific | 64.27 Bn | 59.95 Bn | 3.43 Bn | 520.00 Mn |
| 8 | Edwards Lifesciences | 61.69 Bn | 45.00 Bn | 1.35 Bn | 281.40 Mn |
| 9 | Medline | 51.94 Bn | 49.07 Bn | 1.93 Bn | - |
| 10 | Co-Diagnostics | 1.90 Mn | -22.58 Mn | -20,463.00 | 3.57 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 3.57 Mn |
| Jun 30, 2026 | 4.15 Mn |
| Mar 31, 2026 | 5.93 Mn |
| Dec 31, 2025 | 5.10 Mn |
| Sep 30, 2025 | 4.48 Mn |
| Jun 30, 2025 | 4.69 Mn |
| Mar 31, 2025 | 4.87 Mn |
| Dec 31, 2024 | 4.81 Mn |
| Sep 30, 2024 | 4.88 Mn |
| Jun 30, 2024 | 5.61 Mn |
| Mar 31, 2024 | 5.68 Mn |
| Dec 31, 2023 | 6.18 Mn |
| Sep 30, 2023 | 5.79 Mn |
| Jun 30, 2023 | 5.98 Mn |
| Mar 31, 2023 | 5.01 Mn |
| Dec 31, 2022 | 4.74 Mn |
| Sep 30, 2022 | 5.04 Mn |
| Jun 30, 2022 | 3.89 Mn |
| Mar 31, 2022 | 3.77 Mn |
| Dec 31, 2021 | 2.18 Mn |
API Access
Co-Diagnostics Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=CODX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "CODX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=CODX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();