Corporate Financial Reports - 12-11-17

The following are recent financial reports as posted by selected Utah corporations:

HealthEquity

HealthEquity Inc., based in Draper, reported net income of $10.5 million, or 17 cents per share, for the third quarter ended Oct. 31. That compares with $6 million, or 10 cents per share, for the same quarter a year earlier.

Revenue for the most recent quarter totaled $56.8 million, up from $43.4 million in the year-earlier quarter.

HealthEquity is a health savings account (HAS) nonbank custodian.

“HealthEquity has added more than 740,000 new HSAs and $1.3 billion in custodial assets since the end of the third quarter last year as we added more than 123,000 HSAs in this year’s third quarter, including 14,000 from First Interstate Bank,” Jon Kessler, president and chief executive officer, said in announcing the results.

“The 27 percent third quarter growth in HSAs helped us surpass 3 million total HSAs and drive our custodial assets up 30 percent to $5.6 billion. Our fully integrated investment platform continues to lead the industry with 73 percent custodial investment growth in the third quarter and total invested custodial assets at $1 billion at quarter-end.”

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Amedica

Amedica Corp., based in Salt Lake City, reported a net loss applicable to common stockholders of $2.8 million, or 93 cents per share for the quarter ended Sept. 30. That compares with a loss applicable to common stockholders of $10.6 million, or $5.53 per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $3 million, down from $3.4 million in the year-earlier quarter.

Amedica is a materials company focused on developing, manufacturing and selling silicon nitride ceramics that are used in medical implants and in a variety of industrial devices. It currently commercializes silicon nitride in the spine implant market.

Co-Diagnostics

Co-Diagnostics Inc., based in Salt Lake City, reported a net loss of $3.9 million, or 33 cents per share, for the quarter ended Sept. 30. That compares with a loss of about $450,000, or 5 cents per share, for the same quarter a year earlier.

Revenue totaled $2,598 in the most recent quarter.

Co-Diagnostics is a newly public  molecular diagnostics company.

“We are pleased to have completed our initial quarter as a public company,” Dwight Egan, chief executive officer, said in announcing the results. “We look forward to growing the company and driving operational and financial performance for the benefit of our shareholders in the years to come.

“This quarter’s commercial progress in infectious disease was very exciting,” he said, noting that the company is having a strong commercial launch of its CODX Molecular Diagnostics System.

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