CDI(US:CODX)2025-05-08 20:05Revenue Performance - Revenue for Q1 2025 was $0.1 million, a decline from $0.5 million in Q1 2024, primarily due to the timing of grant revenue recognition[6] - Total revenue for Q1 2025 was $50,277, significantly down from $467,854 in Q1 2024[16] - The company reported a gross profit of $28,687 for Q1 2025, down from $233,349 in Q1 2024[16] Operating Expenses - Operating expenses decreased by 18.2% to $8.6 million compared to $10.5 million in Q1 2024[6] - Adjusted EBITDA loss for Q1 2025 was $7.4 million, compared to a loss of $8.4 million in Q1 2024[18] Net Loss - Net loss for Q1 2025 was $7.5 million, an improvement from a net loss of $9.3 million in Q1 2024, resulting in a loss of $0.24 per fully diluted share compared to $0.31 in Q1 2024[6] Cash Position - Cash, cash equivalents, and marketable securities totaled $21.5 million as of March 31, 2025[6] Development and Initiatives - The company is on track to initiate clinical evaluations for four tests in its product pipeline and complete its manufacturing facility in India by year-end 2025[6] - The company hosted a symposium in India for International HPV Awareness Day 2025, preparing for pre-clinical studies for its HPV test[6] - The company continues to focus on operational efficiency while advancing towards several development milestones[5]