XML 53 R39.htm IDEA: XBRL DOCUMENT v3.26.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes consist of the following for the years ended December 31, 2025 and 2024:

Schedule of Components of Provision (Benefit) for Income Taxes 

		2025				2024
		Years Ended December 31,
		2025				2024
Current:
Federal		$	(1,348,586	)		$	40,031
State			(267,392	)			17,337
Total current		$	(1,615,978	)		$	57,368
Deferred:
Federal			(7,838,432	)			(7,610,511	)
State			(2,059,379	)			(394,244	)
Change in valuation allowance			9,897,811				8,004,755
Total deferred			-				-
Total income tax provision (benefit)		$	(1,615,978	)		$	57,368

Schedule of Benefit from Income Taxes and Effective Income Tax Rates

A reconciliation of income tax expense at the statutory federal income tax rate and income taxes as reflected in the financial statements is as follows:

Schedule of Benefit from Income Taxes and Effective Income Tax Rates 

Permanent differences:
		Year Ended December 31, 2025
U.S. federal statutory rate		$	(10,187,502	)			21.0	%
State and local income taxes, net of federal income tax effect (a)			(640,593	)			1.3	%
Effect of changes in tax laws or rates enacted in the current period			5,685				0.0	%
Tax credits
Research and development credits			(1,163,440	)			2.4	%
Changes in valuation allowance			7,838,433				-16.2	%
Nontaxable or nondeductible items
Stock based compensation			574,070				-1.2	%
Contingent consideration remeasurement			(169,231	)			0.3	%
Other			74,808				-0.2	%
Change in unrecognized tax benefits			(539,126	)			1.1	%
Other adjustments
Federal refund due to OBBBA			(870,633	)			1.8	%
Change in deferred balances due to OBBBA			3,251,940				-6.7	%
Other			209,611				-0.3	%
Total provision for (benefit from) income taxes and effective tax rate		$	(1,615,978	)			3.3	%

(a) State taxes in Massachusetts made up the majority (greater than 50%) of the tax effect in this category

Permanent differences:
		Year Ended December 31, 2024
U.S. federal statutory rate		$	(7,892,144	)			21.0	%
State and local income taxes, net of federal income tax effect			(147,008	)			0.4	%
Effect of changes in tax laws or rates enacted in the current period			17,708				0.0	%
Tax credits
Research and development credits			(691,801	)			1.8	%
Changes in valuation allowance			8,004,755				-21.3	%
Nontaxable or nondeductible Items
Stock based compensation			738,310				-2.0	%
Contingent consideration remeasurement			(150,124	)			0.4	%
Other			74,886				-0.2	%
Change in unrecognized tax benefits			120,180				-0.3	%
Other adjustments
Federal refund due to OBBBA			-				0.0	%
Change in deferred balances due to OBBBA			-				0.0	%
Other			(17,394	)			0.0	%
Total provision for (benefit from) income taxes and effective tax rate		$	57,368				-0.2	%

Schedule of Income Taxes Paid Net of Refunds Received

The following table presents income taxes paid (net of refunds received) for the year ended December 31, 2025 as required by ASU 2023-09:

Schedule of Income Taxes Paid Net of Refunds Received

		Year Ended December 31, 2025
Cash paid for income taxes, net of refunds:
Federal		$	(870,633	)
State			11,763
Total		$	(858,870	)

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets and liabilities consist of the following components as of December 31, 2025 and 2024:

Schedule of Deferred Tax Assets and Liabilities 

Deferred compensation			367,775				638,454
		December 31,
		2025				2024
Deferred tax assets:
Accrued liabilities		$	39,066			$	44,364
Reserves and allowances			644,915				643,206
Deferred compensation			367,775				638,454
Section 174 costs			553,562				9,372,153
Lease liability			296,605				491,744
UNICAP			9,181				20,846
Net operating loss carryforwards			22,035,104				8,552,938
Research and development credits			3,303,255				2,314,332
Other			2,677				196
Total gross deferred tax assets			27,252,140				22,078,233
Less valuation allowance			(24,877,802	)			(14,884,382	)
Total deferred tax assets			2,374,338				7,193,851
Deferred tax liabilities:
Property and equipment, net			(234,815	)			(418,148	)
Intangibles, net			(1,731,564	)			(5,963,713	)
Prepaids			(118,336	)			(233,162	)
Right of use asset			(289,623	)			(483,220	)
Other comprehensive income			-				(95,608	)
Total deferred tax liabilities			(2,374,338	)			(7,193,851	)
Net deferred tax asset (liability)		$	-			$	-

Schedule of Change in Valuation Allowance

The following table summarizes changes in the valuation allowance during the years ended December 31, 2025 and 2024:

Schedule of Change in Valuation Allowance

		2025				2024
		Years Ended December 31,
		2025				2024
Valuation allowance at beginning of year		$	14,884,382			$	6,938,829
Change in valuation allowance			9,993,420				7,945,553
Valuation allowance at end of year		$	24,877,802			$	14,884,382

Schedule of Unrecognized Tax Benefits

Schedule of Unrecognized Tax Benefits 

		December 31,
		2025				2024
Unrecognized tax benefits at the beginning of the year		$	1,200,035			$	1,078,431
Gross increases - current year tax positions			111,065				137,527
Gross increases - prior year tax positions			-				51,225
Gross decreases - prior year tax positions			(692,351	)			(67,148	)
Unrecognized tax benefits at end of year		$	618,749			$	1,200,035
Interest and penalties in year-end balance		$	-			$	128,783

X

- Definition

Schedule of Effective Income Taxes Paid Net of Refunds Received [Table Text Block]

+ References

No definition available.

+ Details

Name:	CODX_ScheduleOfEffectiveIncomeTaxesPaidNetOfRefundsReceivedTableTextBlock
Namespace Prefix:	CODX_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration