BIODESIX INC (BDSX)
Biodesix, Inc. is a data-driven diagnostic solutions provider operating across the United States. Its primary focus includes a comprehensive suite of blood-based lung tests, marketed as the Nodify Lung Nodule Risk Assessment (which includes Nodify XL2 and Nodify CDT). These assessments enable clinicians to evaluate the risk of lung cancer in patients with suspicious nodules, aiding in the reclassification of malignancy risk and guiding appropriate treatment pathways. Beyond risk assessment, Biodesix offers additional lung cancer diagnostics such as GeneStrat ddPCR, which detects specific tumor mutations, and VeriStrat, which gauges the patient's immune system status. Both are crucial for establishing prognosis and informing treatment plans. Another offering is the GeneStrat NGS (Next-Generation Sequencing) test, a rapid, blood-based sequencing solution providing results within 72 hours. Through a partnership with Bio-Rad Laboratories, Inc., Biodesix also provides COVID-19 testing services under its Biodesix WorkSafe program, featuring the Bio-Rad SARS-CoV-2 ddPCR test and the Platelia SARS-CoV-2 Total Ab test, an antibody assay for detecting a B-cell immune response indicating recent or prior infection. Furthermore, the company extends its expertise to biopharmaceutical companies, offering diagnostic and clinical research services, alongside clinical trial testing. It also actively discovers, develops, and commercializes companion diagnostics. Originally incorporated as Elston Technologies, Inc. in 2005, Biodesix, Inc. maintains its headquarters in Boulder, Colorado.
Sector: Services-Medical Laboratories
Industry: Medical - Diagnostics & Research
Biodesix, Inc.
NASDAQ:BDSXHealthcare · Medical - Diagnostics & Research
-5.93%$23.25
AH$23.72+2.00%vs close
Mkt Cap$245.4M
Float6.1M
O/S10.55M
Vol
$ Vol
RVOL
Inst Own41.3%
SI3.4%
Earnings
Dilution
Financials Summary
Revenue$88.5M
Net Income-$35.27M
Total Assets$87.48M
Free Cash Flow-$23.67M
Debt & Equity
Debt 104%
Total Debt$72.85M
Total Equity-$2.46M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:20
Nasdaq bars a compliance period at 1:250
- 1:20Reverse splitSep 15, 202520 shares → 1
Balance Sheet Details
Assets$87.48M
Liabilities$89.94M
Accounts Receivable$9.04M
Accounts Payable$3.08M
Inventory$0
PP&E (Net)$27.81M
Goodwill$15.03M
Intangible Assets$3.88M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $88.5M | $71.32M | $49.09M | $38.21M | $54.51M | $45.56M | $24.55M | $20.43M |
| YoY Growth | 24.1% | 45.3% | 28.5% | -29.9% | 19.6% | 85.6% | 20.2% | - |
| Cost of Revenue | $16.72M | $15.57M | $13.01M | $14.15M | $30.52M | $22M | $6.07M | $4.41M |
| Gross Profit | $71.78M | $55.75M | $36.08M | $24.06M | $23.99M | $23.56M | $18.48M | $16.03M |
| Gross Margin | 81.1% | 78.2% | 73.5% | 63.0% | 44.0% | 51.7% | 75.3% | 78.4% |
| Research and Development | $12M | $9.56M | $9.99M | $13.1M | $12.79M | $10.82M | $10.47M | $8.19M |
| Selling, General, and Administrative | $87.55M | $80.45M | $67.39M | $61.46M | $50.52M | $34.86M | $30.64M | $25.9M |
| Other | $0 | $238K | $44K | $81K | $1.62M | $818K | $4.11M | $0 |
| Total Operating Expenses | $99.55M | $90.25M | $77.42M | $74.64M | $64.93M | $46.49M | $45.22M | $34.09M |
| Operating Income (EBIT) | -$27.77M | -$34.5M | -$41.34M | -$50.59M | -$40.94M | -$22.93M | -$26.74M | -$23.46M |
| Operating Margin | -31.4% | -48.4% | -84.2% | -132.4% | -75.1% | -50.3% | -108.9% | -114.8% |
| Interest Expense | $7.72M | $8.26M | $9.54M | $8.07M | $4.51M | $7.6M | $3.01M | $2.92M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $55K | $24K |
| Other Income (Expense) | -$7.5M | -$8.43M | -$10.8M | -$14.86M | -$2.22M | -$8.42M | -$3.98M | -$2.71M |
| Income Before Tax (EBT) | -$35.27M | -$42.93M | -$52.15M | -$65.45M | -$43.16M | -$31.35M | -$30.73M | -$26.17M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $211K |
| Net Income | -$35.27M | -$42.93M | -$52.15M | -$65.45M | -$43.16M | -$31.35M | -$30.73M | -$26.17M |
| Net Income Margin | -39.8% | -60.2% | -106.2% | -171.3% | -79.2% | -68.8% | -125.1% | -128.1% |
| Supplementary Data | ||||||||
| EPS | -4.67 | -6.62 | -12.70 | -31.09 | -31.54 | -23.61 | -2410.66 | -19.72 |
| Diluted EPS | -4.67 | -6.62 | -12.70 | -31.09 | -31.54 | -23.61 | -2410.66 | -19.72 |
| Weighted Average OS | 7.55M | 6.48M | 4.11M | 2.11M | 1.37M | 1.33M | 1.33M | 1.33M |
| EBITDA | -$21.95M | -$29.22M | -$37.1M | -$51.53M | -$35.47M | -$20.84M | -$24.93M | -$21.51M |
| EBITDA Margin | -24.8% | -41.0% | -75.6% | -134.9% | -65.1% | -45.8% | -101.5% | -105.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $18.99M | $26.25M | $26.28M | $43.09M | $32.71M | $62.13M | $5.29M | $5.91M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $18.99M | $26.25M | $26.28M | $43.09M | $32.71M | $62.13M | $5.29M | $5.91M |
| Accounts Receivable | $9.04M | $8.6M | $7.68M | $5.07M | $3.66M | $15.3M | $5.29M | $1.89M |
| Inventory | $0 | $0 | $1.4M | $1.4M | $2.9M | $3.2M | $800K | $700K |
| Other Current Assets | $4.5M | $4.64M | $4.32M | $5.18M | $7.25M | $8.71M | $1.32M | $1.41M |
| Total Current Assets | $32.52M | $39.48M | $39.68M | $53.33M | $43.61M | $86.14M | $12.7M | $9.91M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $27.81M | $29.59M | $29.61M | $8.82M | $4.18M | $3.18M | $2.12M | $1.39M |
| Goodwill | $15.03M | $15.03M | $15.03M | $15.03M | $15.03M | $15.03M | $11.63M | $10.8M |
| Intangible Assets | $3.88M | $5.87M | $7.91M | $9.8M | $11.62M | $13.26M | $15.09M | $16.85M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $8.23M | $7.26M | $6.86M | $5.92M | $1.66M | $3.46M | $90K | $99K |
| Total Long-Term Assets | $54.96M | $57.76M | $59.41M | $39.57M | $32.48M | $34.93M | $28.93M | $29.14M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $87.48M | $97.24M | $99.1M | $92.91M | $76.1M | $121.07M | $41.63M | $39.06M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $3.08M | $2.19M | $2.93M | $1.69M | $1.66M | $8.96M | $1.72M | $886K |
| Short-Term Debt | $6K | $21K | $51K | $49K | $19K | $11.84M | $12.16M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $961K | $678K | $324K | $962K | $1.85M | $3.53M | $1.28M | $492K |
| Other Current Liabilities | $8.83M | $792K | $26M | $15.05M | $21.4M | $3.81M | $6.28M | $2.09M |
| Total Current Liabilities | $17.44M | $14.32M | $33.42M | $22.84M | $28.96M | $32.13M | $22.6M | $4.47M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $47.45M | $36.41M | $35.23M | $25M | $9.99M | $15.93M | $23.81M | $23.1M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $400K | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | -$400K | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $1.02M | $815K | $712K | $19.2M | $17.42M | $31.85M | $223.76M | $209.52M |
| Total Long-Term Liabilities | $72.5M | $62.05M | $61.1M | $49.46M | $27.41M | $47.78M | $247.57M | $232.62M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $89.94M | $76.37M | $94.52M | $72.3M | $56.37M | $79.9M | $270.17M | $237.09M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $121.07M | $193.96M | $183.96M |
| Common Stock | $8K | $145K | $96K | $78K | $31K | $27K | $1K | $1K |
| Retained Earnings | -$497.76M | -$462.5M | -$419.57M | -$367.42M | -$301.97M | -$258.81M | -$230.86M | -$200.14M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | -$121.07M | -$193.96M | -$5.57M |
| Other Stockholders' Equity | $495.29M | $483.23M | $424.05M | $387.95M | $321.67M | $299.95M | $2.32M | $2.11M |
| Total Equity | -$2.46M | $20.88M | $4.58M | $20.61M | $19.73M | $41.17M | -$228.54M | -$198.03M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $87.48M | $97.24M | $99.1M | $92.91M | $76.1M | $121.07M | $41.63M | $39.06M |
| Supplementary Data | ||||||||
| Total Debt | $72.85M | $61.98M | $60.69M | $31.85M | $10.01M | $27.77M | $35.97M | $23.1M |
| Net Debt | $53.87M | $35.73M | $34.41M | -$11.24M | -$22.7M | -$34.36M | $30.68M | $17.18M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$35.27M | -$42.93M | -$52.15M | -$65.45M | -$43.16M | -$31.35M | -$30.73M | -$26.17M |
| Depreciation & Amortization | $5.6M | $5.46M | $5.51M | $5.84M | $3.18M | $2.9M | $2.79M | $1.74M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$2.1M | $1.6M | $0 | $47K |
| Stock-Based Compensation | $4.14M | $6.64M | $5.37M | $5.96M | $4.94M | $3.71M | $170K | $142K |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$531K | -$1.81M | -$4.72M | -$1.5M | $11.45M | -$10.31M | -$3.65M | -$146K |
| Inventory | $0 | $22K | $166K | $906K | $7.42M | -$11.65M | $0 | -$389K |
| Accounts Payable | $0 | $1.64M | $513K | -$773K | -$7.42M | $11.65M | $1.19M | $342K |
| Other Working Capital | $865K | -$21.52M | $15.34M | -$2.98M | -$6.86M | $5.51M | $808K | $446K |
| Total Working Capital Change | $334K | -$21.67M | $11.3M | -$4.34M | $4.59M | -$4.8M | -$1.65M | $253K |
| Other Non-Cash Items | $1.92M | $3.86M | $7.09M | $13.01M | $4.33M | $6.58M | $7.68M | $6.31M |
| Net Cash from Operating | -$23.27M | -$48.65M | -$22.87M | -$44.97M | -$28.22M | -$21.37M | -$21.73M | -$17.68M |
| Investing Activities | ||||||||
| Capital Expenditures | -$259K | -$3.23M | -$22.92M | -$3.3M | -$2.24M | -$2.18M | -$1.42M | -$617K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | -$750K | -$456K | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$144K | -$210K | -$143K | -$236K | -$306K | $0 | $0 | -$119K |
| Net Cash from Investing | -$403K | -$3.44M | -$23.06M | -$3.53M | -$2.55M | -$2.93M | -$1.87M | -$617K |
| Financing Activities | ||||||||
| Debt Repaid | -$9.98M | $51K | -$9.95M | -$16.5M | $15.35M | -$16.04M | -$13.04M | -$10.77M |
| Common Stock Issuance | $7.82M | $55.63M | $28.13M | $59.54M | $16.34M | $72M | $10.05M | $31.55M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$1.38M | -$3.52M | -$8.95M | -$17.15M | $269K | -$6.91M | -$116K | $23.18M |
| Net Cash from Financing | $16.42M | $52.05M | $29.13M | $58.88M | $1.26M | $81.13M | $22.97M | $19.03M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | -$2K | $0 |
| Net Change in Cash | -$7.26M | -$39K | -$16.8M | $10.38M | -$29.51M | $56.84M | -$628K | $738K |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$23.27M | -$48.65M | -$22.87M | -$44.97M | -$28.22M | -$21.37M | -$21.73M | -$17.68M |
| Capital Expenditure | -$403K | -$3.23M | -$23.06M | -$3.53M | -$2.55M | -$2.18M | -$1.31M | -$617K |
| Free Cash Flow | -$23.67M | -$51.88M | -$45.93M | -$48.51M | -$30.77M | -$23.54M | -$23.04M | -$18.29M |
| Cash at Beginning | $26.33M | $26.37M | $43.17M | $32.8M | $62.31M | $5.47M | $6.11M | $5.36M |
| Cash at End | $19.07M | $26.33M | $26.37M | $43.17M | $32.8M | $62.31M | $5.49M | $6.09M |