CORPORATE FINANCIAL REPORTS 4-5-2021

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

HealthEquity

HealthEquity Inc., based in Draper, reported net income of $5.4 million, or 7 cents per share, for the quarter ended Jan. 31. That compares with a net loss of $200,000, or less than one-half of one cent per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $188.2 million, down from $201.2 million in the year-earlier quarter.

For the full fiscal year 2020, the company reported net income of $8.8 million, or 12 cents per share, which compares with $39.7 million, or 58 cents per share, in 2019.

Revenue in 2020 totaled $733.6 million, up from $532 million in 2019.

HealthEquity and its subsidiaries administer health savings accounts and other consumer-directed benefits for our more than 12 million accounts in partnership with employers, benefits advisors and health and retirement plan providers.

“The team delivered strong results in fiscal 2021, growing revenue by 38 percent to $734 million and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) by 23 percent to $241 million,” Jon Kessler, president and CEO, said in announcing the results.

“Fiscal 2022 is off to a fast start as well, with early client and partner wins as well as the acquisition of Luum, which will help our clients return to work.”

Co-Diagnostics

Co-Diagnostics Inc., based in Salt Lake City, reported net income of $12.8 million, 43 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $1.7 million for the same quarter a year earlier.

Revenue in the most recent quarter totaled $27.1 million.

For the full year 2020, the company reported net income of $42.5 million, or $1.52 per share, which compares with a loss of $6.2 million, or 37 cents per share, for 2019.

Revenue in 2020 totaled $74.6 million, up from $214,974 in 2019.

Co-Diagnostics is a molecular diagnostics company with a platform for the development of molecular diagnostic tests.

“This year marked a critical inflection point in our ability to establish Co-Diagnostics as a leading global molecular diagnostic company, driving innovation through our proprietary technologies across the infectious disease market,” Dwight Egan, CEO, said in announcing the results.

“Our CoPrimer technology platform is well-positioned to continue to play a significant role in providing the U.S. and many countries around the world, needed access to coronavirus testing. Demand for our Logix Smart COVID-19 Test drove record sales this year and, although COVID-19 test sales may not be as robust as in 2020, we anticipate demand for our portfolio of products to continue in 2021.”

Egan said that “as the world seeks normalization, we anticipate continued demand for our COVID-19 tests and other diagnostic products as testing becomes a part of the long-term protocol for many organizations.”

Clene

Clene Inc., based in Salt Lake City, and wholly owned subsidiary Clene Nanomedicine Inc. reported a net loss of $19.3 million, or $1.10 per share, for the year ended Dec. 31. That compares with a loss of $16.2 million, or 93 cents per share, for 2019.

Revenue in 2020 totaled $206,000. The company reported no revenue in 2019.

Clene is a clinical-stage biopharmaceutical company dedicated to revolutionizing the treatment of neurodegenerative disease using nanocatalysis.

“We are thrilled to enter this new year as a public company following the recent close of our merger and concurrent financing, which was enabled by several key milestones achieved in 2020,” Rob Etherington, president and CEO, said in announcing the results.

Etherington said the company is “well-positioned to continue the momentum of our clinical programs. … It is with great energy and dedication that Clene will continue working towards its mission of developing bioenergetic nanocatalysts as a new class of drugs to treat significant unmet medical needs in neurodegenerative diseases while driving further value for its stakeholders.”