CORPORATE FINANCIAL REPORTS

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

Co-Diagnostics 

Co-Diagnostics Inc., based in Salt Lake City, reported net income of $36.7 million, or $1.23 per share, for the fiscal year ended Dec. 31. That compares with $42.5 million, or $1.52 per share, for 2020.

Revenue in 2021 totaled $97.9 million, up from $74.6 million in 2020.

Co-Diagnostics is a molecular diagnostics company that develops, manufactures and markets diagnostics technology.{mprestriction ids="1,3"}

“Our record performance during fiscal 2021 reflects the strength of our innovative product portfolio, and our ability to quickly adapt and deliver our products to customers in regions experiencing increased demand,” Dwight Egan, CEO, said in announcing the resuls.

Egan said the company believes demand for its COVID-19 tests and other diagnostic products “will persist as our reputation has now been established and continues to grow among the diagnostic testing community and organizations implement COVID-19 testing as part of normal protocol. We remain focused in our long-term strategy and we expect that the Co-Dx YourTest PCR platform will contribute to future growth. The platform, along with our innovative portfolio of tests, provides a strong foundation for 2022.”

HealthEquity

HealthEquity Inc., based in Draper, reported a net loss of $32.8 million, or 39 cents per share, for the fiscal fourth quarter ended Jan. 31. That compares with net income of $5.4 million, or 7 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $203.3 million, up from $188.2 million in the prior-year quarter.

For the full year ended Jan. 31, the company reported a net loss $44.3 million, or 53 cents per share. That compares with net income of $8.8 million, or 12 cents per share, for the prior fiscal year.

Revenue in the most recent fiscal year totaled $756.6 million, up from $733.6 million in the prior year.

HealthEquity is the nation’s largest health savings account (HAS) non-bank custodian.

“The HealthEquity team closed out the fiscal 2022 year strong with $203 million in fourth-quarter revenue, the highest revenue quarter in our history,” Jon Kessler, president and CEO, said in announcing the results.

“With record HSA and asset growth in fiscal 2022, pandemic headwinds beginning to subside, and the emergence of potential tailwinds, we believe we are well-positioned for continued growth in fiscal 2023.”

Recursion

Recursion, based in Salt Lake City, reported a net loss of $64.9 million, or 38 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $25.8 million, or $1.17 per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $2.5 million, down from $2.7 million in the year-earlier quarter.

For the full year 2021, the company reported a net loss of $186.5 million, or $1.49 per share, which compares with a net loss of $87 million, or $3.99 per share, in 2020.

Revenue in 2021 totaled $10.2 million, up from $4 million in 2020.

Recursion is a clinical-stage biotechnology company industrializing drug discovery by decoding biology.

“2021 was an exciting year for Recursion, in which we closed one of the largest biotechnology initial public offerings in history; expanded our partnership with Bayer; entered into a transformational partnership with Roche and Genentech; received Fast Track and Orphan Drug Designations from the FDA for our NF2 and FAP programs, respectively; readied several programs to initiate clinical trials; expanded our therapeutics pipeline with numerous programs in oncology; and built and began to utilize our supercomputer, BioHive1,” Chris Gibson, co-founder and CEO, said in announcing the results.

“As we applied our mapping and navigating capabilities to explore complex biology, we discovered and advanced many new scientific and business opportunities. We are excited for 2022 as we work to transition more biology and chemistry from maps to medicines.”{/mprestriction}