Biodesix Inc
NASDAQ:BDSX
Biodesix Inc
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.
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.
Revenue Surge: Biodesix reported fourth quarter revenue of $28.8 million, up 41% year-over-year, and full-year 2025 revenue of $88.5 million, up 24%.
Profitability Progress: Achieved positive adjusted EBITDA for the first time in company history, with $530,000 in Q4.
Gross Margin Expansion: Fourth quarter gross margin rose 400 basis points to 83%, driven by higher test volumes and improved revenue per test.
Sales Force Growth: Increased sales reps from 65 to 97 during 2025, with plans to add about six more per quarter in 2026.
2026 Guidance: Projected 2026 revenue of $106–112 million, representing 23% growth at the midpoint, with expectations for continued adjusted EBITDA improvement.
Pipeline Updates: Continued development of new diagnostic tests and partnerships, though no major new commercial launches expected within the next 12 months.
Cash Position: Ended 2025 with a pro forma cash position of $33.7 million, viewed as strong and providing balance sheet flexibility.
