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Biodesix, Inc. (BDSX) 10-Year Financial Performance & Capital Metrics

BDSX • • Industrial / General
HealthcareDiagnostics & ResearchCancer Diagnostics & Oncology TestingLiquid Biopsy & Circulating Tumor DNA
AboutBiodesix, Inc. operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules. It also offers GeneStrat ddPCR and VeriStrat tests, which are used in the diagnosis of lung cancer to measure the presence of mutations in the tumor and the state of the patient's immune system to establish the patient's prognosis and help guide treatment decisions; and GeneStrat NGS (NGS) test, a 72-hour blood-based NGS test. In addition, the company, through its partnership with Bio-Rad Laboratories, Inc., provides Bio-Rad SARS-CoV-2 ddPCR, a COVID-19 Test under Biodesix WorkSafe testing program; and Platelia SARS-CoV-2 Total Ab test, an antibody test for detecting a B-cell immune response to SARS-CoV-2 that indicate recent or prior infection. Further, it offers diagnostic and clinical research, as well as clinical trial testing services to biopharmaceutical companies; and discovers, develops, and commercializes companion diagnostics. The company was formerly known as Elston Technologies, Inc. Biodesix, Inc. was incorporated in 2005 and is headquartered in Boulder, Colorado.Show more
  • Revenue $71M +45.3%
  • EBITDA -$29M +19.0%
  • Net Income -$43M +17.7%
  • EPS (Diluted) -6.60 +48.4%
  • Gross Margin 78.17% +6.4%
  • EBITDA Margin -40.72% +44.2%
  • Operating Margin -48.37% +42.6%
  • Net Margin -60.19% +43.3%
  • ROE -337.3% +18.5%
  • ROIC -54.13% +57.8%
  • Debt/Equity 2.97 -77.6%
  • Interest Coverage -4.18 +3.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 23.8%

✗Weaknesses

  • ✗High debt to equity ratio of 3.0x
  • ✗Negative free cash flow
  • ✗Shares diluted 57.9% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y23.77%
3Y9.38%
TTM22.29%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM9.77%

EPS CAGR

10Y-
5Y-
3Y-
TTM-8.59%

ROCE

10Y Avg-66.27%
5Y Avg-59.26%
3Y Avg-64.55%
Latest-46.43%

Peer Comparison

Liquid Biopsy & Circulating Tumor DNA
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
BIAFbioAffinity Technologies, Inc.6.39M1.42-0.06269.75%-217.5%-165.57%0.58
VNRXVolitionRx Limited35.61M0.29-0.9459.1%-15.54%
BDSXBiodesix, Inc.66.27M8.33-1.2645.3%-49.31%-337.3%2.97
GRALGRAIL, Inc.3.8B97.44-1.5334.9%-286.43%-18.14%0.03
GHGuardant Health, Inc.14.54B111.98-31.4631.04%-44.18%-45.84%
ADVBAdvanced Biomed Inc. Common Stock6.86M0.32-67.45-135.32%-77.48%0.00

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+20.43M24.55M45.56M54.51M38.21M49.09M71.32M
Revenue Growth %-0.2%0.86%0.2%-0.3%0.28%0.45%
Cost of Goods Sold+4.41M6.07M22M30.52M14.15M13.01M15.57M
COGS % of Revenue0.22%0.25%0.48%0.56%0.37%0.27%0.22%
Gross Profit+16.03M18.48M23.56M23.99M24.06M36.08M55.75M
Gross Margin %0.78%0.75%0.52%0.44%0.63%0.73%0.78%
Gross Profit Growth %-0.15%0.27%0.02%0%0.5%0.55%
Operating Expenses+34.09M45.22M46.49M64.93M74.64M77.42M90.25M
OpEx % of Revenue1.67%1.84%1.02%1.19%1.95%1.58%1.27%
Selling, General & Admin25.9M30.64M34.86M50.52M61.46M67.39M80.45M
SG&A % of Revenue1.27%1.25%0.77%0.93%1.61%1.37%1.13%
Research & Development8.19M10.47M10.82M12.79M13.1M9.99M9.56M
R&D % of Revenue0.4%0.43%0.24%0.23%0.34%0.2%0.13%
Other Operating Expenses04.11M818K1.62M81K44K238K
Operating Income+-23.46M-26.74M-22.93M-40.94M-50.59M-41.34M-34.5M
Operating Margin %-1.15%-1.09%-0.5%-0.75%-1.32%-0.84%-0.48%
Operating Income Growth %--0.14%0.14%-0.79%-0.24%0.18%0.17%
EBITDA+-21.72M-23.95M-20.03M-37.76M-44.74M-35.84M-29.04M
EBITDA Margin %-1.06%-0.98%-0.44%-0.69%-1.17%-0.73%-0.41%
EBITDA Growth %--0.1%0.16%-0.89%-0.18%0.2%0.19%
D&A (Non-Cash Add-back)1.74M2.79M2.9M3.18M5.84M5.51M5.46M
EBIT-23.25M-27.72M-23.75M-38.65M-57.38M-42.61M-34.67M
Net Interest Income+-2.89M-2.95M-7.6M-4.51M-8.07M-9.54M-8.26M
Interest Income24K55K00000
Interest Expense2.92M3.01M7.6M4.51M8.07M9.54M8.26M
Other Income/Expense-2.71M-3.98M-8.42M-2.22M-14.86M-10.8M-8.43M
Pretax Income+-26.17M-30.73M-31.35M-43.16M-65.45M-52.15M-42.93M
Pretax Margin %-1.28%-1.25%-0.69%-0.79%-1.71%-1.06%-0.6%
Income Tax+211K000000
Effective Tax Rate %1%1%1%1%1%1%1%
Net Income+-26.17M-30.73M-31.35M-43.16M-65.45M-52.15M-42.93M
Net Margin %-1.28%-1.25%-0.69%-0.79%-1.71%-1.06%-0.6%
Net Income Growth %--0.17%-0.02%-0.38%-0.52%0.2%0.18%
Net Income (Continuing)-26.17M-30.73M-31.35M-43.16M-65.45M-52.15M-42.93M
Discontinued Operations0000000
Minority Interest0000000
EPS (Diluted)+-19.80-0.67-6.48-31.60-31.00-12.80-6.60
EPS Growth %-0.97%-8.67%-3.88%0.02%0.59%0.48%
EPS (Basic)-19.80-0.67-6.48-31.60-31.00-12.80-6.60
Diluted Shares Outstanding1.33M45.71M4.84M1.37M2.11M4.11M6.48M
Basic Shares Outstanding1.33M45.71M4.84M1.37M2.11M4.11M6.48M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+9.91M12.7M86.14M43.61M53.33M39.68M39.48M
Cash & Short-Term Investments5.91M5.29M62.13M32.71M43.09M26.28M26.25M
Cash Only5.91M5.29M62.13M32.71M43.09M26.28M26.25M
Short-Term Investments0000000
Accounts Receivable1.89M5.29M15.3M3.66M5.07M7.68M8.6M
Days Sales Outstanding33.878.67122.6124.4848.3857.144.03
Inventory700K800K3.2M2.9M1.4M1.4M0
Days Inventory Outstanding57.9948.0753.134.6836.139.28-
Other Current Assets1.41M1.32M8.71M7.25M5.18M4.32M4.64M
Total Non-Current Assets+29.14M28.93M34.93M32.48M39.57M59.41M57.76M
Property, Plant & Equipment1.39M2.12M3.18M4.18M8.82M29.61M29.59M
Fixed Asset Turnover14.72x11.58x14.34x13.04x4.33x1.66x2.41x
Goodwill10.8M11.63M15.03M15.03M15.03M15.03M15.03M
Intangible Assets16.85M15.09M13.26M11.62M9.8M7.91M5.87M
Long-Term Investments0000000
Other Non-Current Assets99K90K3.46M1.66M5.92M6.86M7.26M
Total Assets+39.06M41.63M121.07M76.1M92.91M99.1M97.24M
Asset Turnover0.52x0.59x0.38x0.72x0.41x0.50x0.73x
Asset Growth %-0.07%1.91%-0.37%0.22%0.07%-0.02%
Total Current Liabilities+4.47M22.6M32.13M28.96M22.84M33.42M14.32M
Accounts Payable886K1.72M8.96M1.66M1.69M2.93M2.19M
Days Payables Outstanding73.4103.18148.7319.8843.4582.1751.42
Short-Term Debt012.16M11.84M19K49K51K21K
Deferred Revenue (Current)492K1000K1000K1000K962K324K678K
Other Current Liabilities2.09M6.28M3.81M21.4M15.05M26M792K
Current Ratio2.22x0.56x2.68x1.51x2.34x1.19x2.76x
Quick Ratio2.06x0.53x2.58x1.41x2.27x1.15x2.76x
Cash Conversion Cycle18.3923.5726.9839.2941.0314.2-
Total Non-Current Liabilities+232.62M247.57M47.78M27.41M49.46M61.1M62.05M
Long-Term Debt23.1M23.81M15.93M9.99M25M35.23M36.41M
Capital Lease Obligations00005.25M25.16M24.83M
Deferred Tax Liabilities0000-400K00
Other Non-Current Liabilities209.52M223.76M31.85M17.42M19.2M712K815K
Total Liabilities237.09M270.17M79.9M56.37M72.3M94.52M76.37M
Total Debt+23.1M35.97M27.77M10.01M31.85M60.69M61.98M
Net Debt17.18M30.68M-34.36M-22.7M-11.24M34.41M35.73M
Debt / Equity--0.67x0.51x1.55x13.25x2.97x
Debt / EBITDA-------
Net Debt / EBITDA-------
Interest Coverage-8.05x-8.89x-3.02x-9.08x-6.27x-4.34x-4.18x
Total Equity+-198.03M-228.54M41.17M19.73M20.61M4.58M20.88M
Equity Growth %--0.15%1.18%-0.52%0.04%-0.78%3.56%
Book Value per Share-149.22-5.008.5114.429.791.123.22
Total Shareholders' Equity-198.03M-228.54M41.17M19.73M20.61M4.58M20.88M
Common Stock1K1K27K31K78K96K145K
Retained Earnings-200.14M-230.86M-258.81M-301.97M-367.42M-419.57M-462.5M
Treasury Stock0000000
Accumulated OCI-5.57M-193.96M-121.07M0000
Minority Interest0000000

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-17.68M-21.73M-21.37M-28.22M-44.97M-22.87M-48.65M
Operating CF Margin %-0.87%-0.88%-0.47%-0.52%-1.18%-0.47%-0.68%
Operating CF Growth %--0.23%0.02%-0.32%-0.59%0.49%-1.13%
Net Income-26.17M-30.73M-31.35M-43.16M-65.45M-52.15M-42.93M
Depreciation & Amortization1.74M2.79M2.9M3.18M5.84M5.51M5.46M
Stock-Based Compensation142K03.71M4.94M5.96M5.37M6.64M
Deferred Taxes47K01.6M-2.1M000
Other Non-Cash Items6.31M7.85M6.58M4.33M13.01M7.09M3.86M
Working Capital Changes253K-1.65M-4.8M4.59M-4.34M11.3M-21.67M
Change in Receivables-146K-3.65M-10.31M11.45M-1.5M-4.72M-1.81M
Change in Inventory-389K0-11.65M7.42M906K166K22K
Change in Payables342K1.19M11.65M-7.42M-773K513K1.64M
Cash from Investing+-617K-1.87M-2.93M-2.55M-3.53M-23.06M-3.44M
Capital Expenditures-617K-1.42M-2.18M-2.55M-3.53M-22.92M-3.23M
CapEx % of Revenue0.03%0.06%0.05%0.05%0.09%0.47%0.05%
Acquisitions-------
Investments-------
Other Investing-119K0000-143K-210K
Cash from Financing+19.03M22.97M81.13M1.26M58.88M29.13M52.05M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0000000
Share Repurchases-------
Other Financing23.18M-116K-6.91M269K-17.15M-8.95M-3.52M
Net Change in Cash-------
Free Cash Flow+-18.29M-23.04M-23.54M-30.77M-48.51M-45.93M-51.88M
FCF Margin %-0.9%-0.94%-0.52%-0.56%-1.27%-0.94%-0.73%
FCF Growth %--0.26%-0.02%-0.31%-0.58%0.05%-0.13%
FCF per Share-13.79-0.50-4.87-22.49-23.04-11.19-8.00
FCF Conversion (FCF/Net Income)0.68x0.71x0.68x0.65x0.69x0.44x1.13x
Interest Paid0000000
Taxes Paid0000000

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)---76.16%-141.75%-324.53%-414.09%-337.3%
Return on Invested Capital (ROIC)----1602.14%-1186.56%-128.25%-54.13%
Gross Margin78.44%75.26%51.71%44.01%62.96%73.5%78.17%
Net Margin-128.06%-125.15%-68.81%-79.18%-171.27%-106.23%-60.19%
Debt / Equity--0.67x0.51x1.55x13.25x2.97x
Interest Coverage-8.05x-8.89x-3.02x-9.08x-6.27x-4.34x-4.18x
FCF Conversion0.68x0.71x0.68x0.65x0.69x0.44x1.13x
Revenue Growth-20.16%85.55%19.64%-29.89%28.46%45.3%

Revenue by Segment

20202021202220232024
Development Services----6.62M
Development Services Growth-----
Diagnostic Tests-48.94M34.54M45.19M-
Diagnostic Tests Growth---29.42%30.85%-
Service-5.57M3.67M--
Service Growth---34.03%--
C O V I D19 Diagnostic Test Revenue28.3M----
C O V I D19 Diagnostic Test Revenue Growth-----
Lung Diagnostic Revenue12.6M----
Lung Diagnostic Revenue Growth-----

Frequently Asked Questions

Growth & Financials

Biodesix, Inc. (BDSX) reported $80.2M in revenue for fiscal year 2024. This represents a 292% increase from $20.4M in 2018.

Biodesix, Inc. (BDSX) grew revenue by 45.3% over the past year. This is strong growth.

Biodesix, Inc. (BDSX) reported a net loss of $39.5M for fiscal year 2024.

Dividend & Returns

Biodesix, Inc. (BDSX) has a return on equity (ROE) of -337.3%. Negative ROE indicates the company is unprofitable.

Biodesix, Inc. (BDSX) had negative free cash flow of $29.3M in fiscal year 2024, likely due to heavy capital investments.

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