Biodesix Inc
NASDAQ:BDSX

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Biodesix Inc
NASDAQ:BDSX
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Price: 7.52 USD -4.2% Market Closed
Market Cap: 59.9m USD

Biodesix Inc
Investor Relations

Biodesix, Inc. provides blood-based diagnostics services for patients with lung disease. The company is headquartered in Boulder, Colorado and currently employs 218 full-time employees. The company went IPO on 2020-10-28. The firm uses its artificial intelligence (AI) platform, Diagnostic Cortex, to discover, develop, and commercialize solutions for clinical unmet needs, with a primary focus on lung disease. In addition to its diagnostic tests, it provides biopharmaceutical companies with services that include diagnostic research, clinical trial testing, and the discovery, development and commercialization of companion diagnostics. The firm offers blood-based lung cancer tests across the lung cancer continuum of care, including Nodify XL2 and Nodify CDT tests, and GeneStrat and VeriStrat tests. The firm also offers three SARS-CoV-2 tests under the Biodesix WorkSafe testing program, such as Bio-Rad SARS-CoV-2 ddPCR test, Platelia SARS-CoV-2 Total Ab test and cPass SARS-CoV-2 Neutralization Antibody Test.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 3, 2025
AI Summary
Q3 2025

Revenue Growth: Biodesix reported third quarter revenue of $21.8 million, up 20% year-over-year, driven by strong lung diagnostic testing volumes and growth in development services.

Gross Margin Expansion: Gross margin improved to 81%, up 400 basis points from last year, and is expected to remain near 80% for the rest of the year.

Primary Care Expansion: The company saw rapid adoption of its Nodify Lung test in primary care, with tests ordered by primary care growing to 11% of the total in September (up from 4%) and a 75% YoY increase in primary care-ordered tests.

Adjusted EBITDA Path: Adjusted EBITDA loss improved by 18% year-over-year, and management is confident in achieving adjusted EBITDA positivity in Q4 2025.

Guidance Raised: Full-year 2025 revenue guidance was raised to a range of $84 million to $86 million.

Sales Force Investment: The company expanded its sales force from 65 to 85 reps during the quarter, with plans to reach 93–97 reps in Q4, aiming for at least $1 million per rep in productivity.

Key Financials
Revenue
$21.8 million
Lung Diagnostic Testing Revenue
$19.8 million
Lung Diagnostic Test Volumes
15,700 tests
Development Services Revenue
$1.9 million
Contracted but Not Yet Recognized Revenue (Development Services)
$12.9 million
Gross Margin
81%
Operating Expense (excluding direct costs)
$24.7 million
SG&A Expense
$21.7 million
R&D Expense
$3.0 million
Net Loss
$8.7 million
Adjusted EBITDA
-$4.6 million
Unrestricted Cash and Cash Equivalents
$16.6 million
Sales Representatives (average in Q3)
85 reps
Earnings Call Recording
Other Earnings Calls

Management

Mr. Scott Hutton
President, CEO & Director
No Bio Available
Ms. Robin Harper Cowie
CFO, Secretary & Treasurer
No Bio Available
Mr. Kieran O'Kane
Chief Commercial Officer
No Bio Available
Dr. Heinrich Röder
Founder & CTO
No Bio Available
Ms. Jessica Olbricht
Senior Director of Human Resources
No Bio Available
Dr. Gary Anthony Pestano Ph.D.
Chief Development Officer
No Bio Available
Ms. Bobbi Coffin
Chief Growth Officer
No Bio Available
Dr. Steven C. Springmeyer
Co-Chief Medical Officer
No Bio Available
Mr. Christopher Vazquez
VP & Controller
No Bio Available

Contacts

Address
COLORADO
Boulder
2970 Wilderness Place, Suite 100
Contacts
+13034170500.0
www.biodesix.com