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BDSX logoBiodesix, Inc.(BDSX)Earnings, Financials & Key Ratios

BDSX•NASDAQ
$15.00
$113M mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryDiagnostics & ResearchSub-IndustryMolecular and Genetic Diagnostics
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$88M+24.1%
  • EBITDA-$22M+23.5%
  • Net Income-$35M+17.9%
  • EPS (Diluted)-4.67+29.2%
  • Gross Margin75.25%-3.7%
  • EBITDA Margin-25.09%+38.4%
  • Operating Margin-31.5%+34.9%
  • Net Margin-39.85%+33.8%
  • ROE-383.09%-13.6%
  • ROIC-38.71%+28.5%
  • Interest Coverage-3.57+15.0%
Technical→

BDSX Key Insights

Biodesix, Inc. (BDSX) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 14.2%
  • ✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Shares diluted 16.5% in last year

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

BDSX Price & Volume

Biodesix, Inc. (BDSX) stock price & volume — 10-year historical chart

Loading chart...

BDSX Growth Metrics

Biodesix, Inc. (BDSX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years14.2%
3 Years32.31%
TTM29.05%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM20.93%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM30%

Return on Capital

10 Years-62.54%
5 Years-58.05%
3 Years-47.93%
Last Year-36.44%

BDSX Recent Earnings

Biodesix, Inc. (BDSX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 4, 2026
EPS
$0.81
Est $1.13
+28.3%
Revenue
$26M
Est $23M
+10.5%
Q1 2026
Feb 26, 2026
EPS
$0.49
Est $1.05
+53.3%
Revenue
$29M
Est $26M
+11.8%
Q4 2025
Nov 3, 2025
EPS
$1.16
Est $1.60
+27.5%
Revenue
$22M
Est $26M
-17.1%
Q3 2025
Aug 7, 2025
EPS
$1.60
Est $1.40
-14.3%
Revenue
$20M
Est $18M
+8.4%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$0.81vs $1.13+28.3%
$26Mvs $23M+10.5%
Q1 2026Feb 26, 2026
$0.49vs $1.05+53.3%
$29Mvs $26M+11.8%
Q4 2025Nov 3, 2025
$1.16vs $1.60+27.5%
$22Mvs $26M-17.1%
Q3 2025Aug 7, 2025
$1.60vs $1.40-14.3%
$20Mvs $18M+8.4%
Based on last 12 quarters of dataView full earnings history →

BDSX Peer Comparison

Biodesix, Inc. (BDSX) competitors in Molecular and Genetic Diagnostics — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
EXAS logoEXASExact Sciences CorporationDirect Competitor20.02B104.91-95.3717.69%-6.4%-8.66%1.05
NTRA logoNTRANatera, Inc.Direct Competitor29.58B215.09-140.5856.75%-14.61%-24.69%0.16
VCYT logoVCYTVeracyte, Inc.Direct Competitor3.29B41.1950.2316.01%16.25%6.86%0.03
ONCO logoONCOOnconetix, Inc.Direct Competitor1.54M0.45-0.10-67.7%-17.21%-189.85%0.00
ILMN logoILMNIllumina, Inc.Product Competitor21.66B142.5826.16-0.78%19.43%32.84%0.94
PACB logoPACBPacific Biosciences of California, Inc.Product Competitor516.17M1.71-1.60-23.19%-325.8%-13.95%1.33
CDNA logoCDNACareDx, IncProduct Competitor1.08B20.94-52.3513.79%-1.98%-2.61%0.06
FLGT logoFLGTFulgent Genetics, Inc.Product Competitor443.83M14.92-7.5713.83%-18.75%-5.42%0.00

Compare BDSX vs Peers

Biodesix, Inc. (BDSX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EXAS

Most directly comparable listed peer for BDSX.

Scale Benchmark

vs TMO

Larger-name benchmark to compare BDSX against a more recognizable public peer.

Peer Set

Compare Top 5

vs EXAS, NTRA, VCYT, ONCO

BDSX Income Statement

Biodesix, Inc. (BDSX) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue20.43M24.55M45.56M54.51M38.21M49.09M71.32M88.5M96.1M
Revenue Growth %-20.16%85.55%19.64%-29.89%28.46%45.3%24.08%29.05%
Cost of Goods Sold4.41M6.07M22M30.52M14.15M13.01M15.57M21.91M13.02M
COGS % of Revenue21.56%24.74%48.29%55.99%37.04%26.5%21.83%24.75%-
Gross Profit
16.03M▲ 0%
18.48M▲ 15.3%
23.56M▲ 27.5%
23.99M▲ 1.8%
24.06M▲ 0.3%
36.08M▲ 50.0%
55.75M▲ 54.5%
66.59M▲ 19.5%
57.52M▲ 0%
Gross Margin %78.44%75.26%51.71%44.01%62.96%73.5%78.17%75.25%59.86%
Gross Profit Growth %-15.3%27.5%1.82%0.29%49.96%54.53%19.45%-
Operating Expenses34.09M45.22M46.49M64.93M74.64M77.42M90.25M94.36M108.02M
OpEx % of Revenue166.83%184.18%102.05%119.12%195.34%157.72%126.53%106.62%-
Selling, General & Admin25.9M30.64M34.86M50.52M61.46M67.39M80.45M87.55M91.36M
SG&A % of Revenue126.76%124.78%76.51%92.68%160.84%137.28%112.8%98.92%-
Research & Development8.19M10.47M10.82M12.79M13.1M9.99M9.56M12M12.42M
R&D % of Revenue40.07%42.64%23.75%23.46%34.29%20.35%13.4%13.56%-
Other Operating Expenses04.11M818K1.62M81K44K238K-5.19M1.03M
Operating Income
-23.46M▲ 0%
-26.74M▼ 14.0%
-22.93M▲ 14.2%
-40.94M▼ 78.5%
-50.59M▼ 23.6%
-41.34M▲ 18.3%
-34.5M▲ 16.6%
-27.87M▲ 19.2%
-24.94M▲ 0%
Operating Margin %-114.82%-108.92%-50.34%-75.11%-132.39%-84.22%-48.37%-31.5%-25.95%
Operating Income Growth %--13.98%14.24%-78.51%-23.56%18.28%16.55%19.2%-
EBITDA-21.72M-23.95M-20.03M-37.76M-44.74M-35.84M-29.04M-22.2M-20.77M
EBITDA Margin %-106.31%-97.54%-43.97%-69.28%-117.09%-73%-40.72%-25.09%-21.61%
EBITDA Growth %--10.25%16.36%-88.52%-18.49%19.91%18.96%23.55%23.3%
D&A (Non-Cash Add-back)1.74M2.79M2.9M3.18M5.84M5.51M5.46M5.67M4.17M
EBIT-23.25M-27.72M-23.75M-38.65M-57.38M-42.61M-34.67M-27.55M-18.13M
Net Interest Income-2.89M-2.95M-7.6M-4.51M-8.07M-9.54M-8.26M-7.72M-6.03M
Interest Income24K55K0000000
Interest Expense2.92M3.01M7.6M4.51M8.07M9.54M8.26M7.72M4.05M
Other Income/Expense-2.71M-3.98M-8.42M-2.22M-14.86M-10.8M-8.43M-7.39M-7.02M
Pretax Income
-26.17M▲ 0%
-30.73M▼ 17.4%
-31.35M▼ 2.0%
-43.16M▼ 37.7%
-65.45M▼ 51.6%
-52.15M▲ 20.3%
-42.93M▲ 17.7%
-35.27M▲ 17.9%
-31.96M▲ 0%
Pretax Margin %-128.06%-125.15%-68.81%-79.18%-171.27%-106.23%-60.19%-39.85%-33.26%
Income Tax211K00000000
Effective Tax Rate %-0.81%0%0%0%0%0%0%0%0%
Net Income
-26.17M▲ 0%
-30.73M▼ 17.4%
-31.35M▼ 2.0%
-43.16M▼ 37.7%
-65.45M▼ 51.6%
-52.15M▲ 20.3%
-42.93M▲ 17.7%
-35.27M▲ 17.9%
-31.96M▲ 0%
Net Margin %-128.06%-125.15%-68.81%-79.18%-171.27%-106.23%-60.19%-39.85%-33.26%
Net Income Growth %--17.43%-2.03%-37.67%-51.64%20.32%17.67%17.86%20.93%
Net Income (Continuing)-26.17M-30.73M-31.35M-43.16M-65.45M-52.15M-42.93M-35.27M-31.96M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
-19.80▲ 0%
-0.67▲ 96.6%
-6.48▼ 867.2%
-31.60▼ 387.7%
-31.00▲ 1.9%
-12.80▲ 58.7%
-6.60▲ 48.4%
-4.67▲ 29.2%
-3.31▲ 0%
EPS Growth %-96.62%-867.16%-387.65%1.9%58.71%48.44%29.24%30%
EPS (Basic)-19.80-0.67-6.48-31.60-31.00-12.80-6.60-4.67-
Diluted Shares Outstanding1.33M45.71M4.84M1.37M2.11M4.11M6.48M7.55M9.66M
Basic Shares Outstanding1.33M45.71M4.84M1.37M2.11M4.11M6.48M7.55M9.66M
Dividend Payout Ratio---------

BDSX Balance Sheet

Biodesix, Inc. (BDSX) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets9.91M12.7M86.14M43.61M53.33M39.68M39.48M32.52M40.91M
Cash & Short-Term Investments5.91M5.29M62.13M32.71M43.09M26.28M26.25M18.99M25.57M
Cash Only5.91M5.29M62.13M32.71M43.09M26.28M26.25M18.99M25.57M
Short-Term Investments000000000
Accounts Receivable1.89M5.29M15.3M3.66M5.07M7.68M8.6M9.04M9.5M
Days Sales Outstanding33.878.67122.6124.4848.3857.144.0337.2736.71
Inventory700K800K3.2M2.9M1.4M1.4M000
Days Inventory Outstanding57.9948.0753.134.6836.139.28--9.81
Other Current Assets1.41M1.32M8.71M7.25M5.18M4.32M4.64M4.5M5.84M
Total Non-Current Assets29.14M28.93M34.93M32.48M39.57M59.41M57.76M54.96M53.73M
Property, Plant & Equipment1.39M2.12M3.18M4.18M8.82M29.61M29.59M27.81M27.38M
Fixed Asset Turnover14.72x11.58x14.34x13.04x4.33x1.66x2.41x3.18x3.37x
Goodwill10.8M11.63M15.03M15.03M15.03M15.03M15.03M15.03M15.03M
Intangible Assets16.85M15.09M13.26M11.62M9.8M7.91M5.87M3.88M3.45M
Long-Term Investments000000000
Other Non-Current Assets99K90K3.46M1.66M5.92M6.86M7.26M8.23M28.46M
Total Assets
39.06M▲ 0%
41.63M▲ 6.6%
121.07M▲ 190.8%
76.1M▼ 37.1%
92.91M▲ 22.1%
99.1M▲ 6.7%
97.24M▼ 1.9%
87.48M▼ 10.0%
94.64M▲ 0%
Asset Turnover0.52x0.59x0.38x0.72x0.41x0.50x0.73x1.01x1.07x
Asset Growth %-6.6%190.8%-37.15%22.09%6.66%-1.87%-10.04%-38.21%
Total Current Liabilities4.47M22.6M32.13M28.96M22.84M33.42M14.32M17.44M14.49M
Accounts Payable886K1.72M8.96M1.66M1.69M2.93M2.19M3.08M3.65M
Days Payables Outstanding73.4103.18148.7319.8843.4582.1751.4251.3293.39
Short-Term Debt012.16M11.84M19K49K51K21K1.37M1.45M
Deferred Revenue (Current)492K1.28M3.53M1.85M962K324K678K961K4.57M
Other Current Liabilities2.09M6.28M3.81M21.4M15.05M26M792K12.03M9.16M
Current Ratio2.22x0.56x2.68x1.51x2.34x1.19x2.76x1.86x1.86x
Quick Ratio2.06x0.53x2.58x1.41x2.27x1.15x2.76x1.86x1.86x
Cash Conversion Cycle18.3923.5726.9839.2941.0314.2---46.86
Total Non-Current Liabilities232.62M247.57M47.78M27.41M49.46M61.1M62.05M72.5M71.02M
Long-Term Debt23.1M23.81M15.93M9.99M25M35.23M36.41M71.48M70.16M
Capital Lease Obligations00005.25M25.16M24.83M048.52M
Deferred Tax Liabilities0000-400K0000
Other Non-Current Liabilities209.52M223.76M31.85M17.42M19.2M712K815K1.02M3.1M
Total Liabilities237.09M270.17M79.9M56.37M72.3M94.52M76.37M89.94M85.5M
Total Debt23.1M35.97M27.77M10.01M31.85M60.69M61.98M72.85M71.61M
Net Debt17.18M30.68M-34.36M-22.7M-11.24M34.41M35.73M53.87M46.04M
Debt / Equity--0.67x0.51x1.55x13.25x2.97x-7.84x
Debt / EBITDA---------3.45x
Net Debt / EBITDA---------2.22x
Interest Coverage-7.97x-9.21x-3.12x-8.57x-7.11x-4.47x-4.20x-3.57x-4.47x
Total Equity
-198.03M▲ 0%
-228.54M▼ 15.4%
41.17M▲ 118.0%
19.73M▼ 52.1%
20.61M▲ 4.5%
4.58M▼ 77.8%
20.88M▲ 355.8%
-2.46M▼ 111.8%
9.13M▲ 0%
Equity Growth %--15.41%118.01%-52.08%4.46%-77.77%355.81%-111.81%-332.28%
Book Value per Share-149.22-5.008.5114.429.791.123.22-0.330.95
Total Shareholders' Equity-198.03M-228.54M41.17M19.73M20.61M4.58M20.88M-2.46M9.13M
Common Stock1K1K27K31K78K96K145K8K10K
Retained Earnings-200.14M-230.86M-258.81M-301.97M-367.42M-419.57M-462.5M-497.76M-505.56M
Treasury Stock000000000
Accumulated OCI-5.57M-193.96M-121.07M000000
Minority Interest000000000

BDSX Cash Flow Statement

Biodesix, Inc. (BDSX) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-17.68M-21.73M-21.37M-28.22M-44.97M-22.87M-48.65M-23.27M-23.27M
Operating CF Margin %-86.52%-88.49%-46.9%-51.78%-117.69%-46.59%-68.21%-26.3%-
Operating CF Growth %--22.91%1.66%-32.09%-59.35%49.15%-112.72%52.17%182.25%
Net Income-26.17M-30.73M-31.35M-43.16M-65.45M-52.15M-42.93M-35.27M-31.96M
Depreciation & Amortization1.74M2.79M2.9M3.18M5.84M5.51M5.46M5.6M5.58M
Stock-Based Compensation142K170K3.71M4.94M5.96M5.37M6.64M4.14M4.28M
Deferred Taxes47K01.6M-2.1M00000
Other Non-Cash Items6.31M7.68M6.58M4.33M13.01M7.09M3.86M1.92M1.47M
Working Capital Changes253K-1.65M-4.8M4.59M-4.34M11.3M-21.67M334K-4.21M
Change in Receivables-146K-3.65M-10.31M11.45M-1.5M-4.72M-1.81M-531K-1.92M
Change in Inventory-389K0-11.65M7.42M906K166K22K00
Change in Payables342K1.19M11.65M-7.42M-773K513K1.64M03.8M
Cash from Investing-617K-1.87M-2.93M-2.55M-3.53M-23.06M-3.44M-403K-410K
Capital Expenditures-617K-1.42M-2.18M-2.55M-3.53M-22.92M-3.23M-259K-285K
CapEx % of Revenue3.02%5.77%4.78%4.67%9.25%46.69%4.53%0.29%-
Acquisitions0-456K-750K000000
Investments---------
Other Investing-119K0000-143K-210K-144K-125K
Cash from Financing19.03M22.97M81.13M1.26M58.88M29.13M52.05M16.42M33.22M
Debt Issued (Net)-12.65M13.04M16.04M-15.35M16.5M9.95M-51K9.98M10.01M
Equity Issued (Net)8.5M10.05M72M16.34M59.54M28.13M55.63M7.82M24.54M
Dividends Paid000000000
Share Repurchases000000000
Other Financing23.18M-116K-6.91M269K-17.15M-8.95M-3.52M-1.38M-1.33M
Net Change in Cash
738K▲ 0%
-628K▼ 185.1%
56.84M▲ 9150.6%
-29.51M▼ 151.9%
10.38M▲ 135.2%
-16.8M▼ 261.9%
-39K▲ 99.8%
-7.26M▼ 18507.7%
7.97M▲ 0%
Free Cash Flow
-18.29M▲ 0%
-23.04M▼ 25.9%
-23.54M▼ 2.2%
-30.77M▼ 30.7%
-48.51M▼ 57.6%
-45.93M▲ 5.3%
-51.88M▼ 12.9%
-23.67M▲ 54.4%
-25.23M▲ 0%
FCF Margin %-89.54%-93.83%-51.68%-56.45%-126.94%-93.57%-72.74%-26.75%-26.25%
FCF Growth %--25.92%-2.2%-30.7%-57.64%5.31%-12.95%54.37%44.26%
FCF per Share-13.79-0.50-4.87-22.49-23.04-11.19-8.00-3.14-3.14
FCF Conversion (FCF/Net Income)0.68x0.71x0.68x0.65x0.69x0.44x1.13x0.66x0.79x
Interest Paid000000000
Taxes Paid000000000

BDSX Key Ratios

Biodesix, Inc. (BDSX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2019202020212022202320242025TTM
Return on Equity (ROE)--76.16%-141.75%-324.53%-414.09%-337.3%-383.09%-2101.4%
Return on Invested Capital (ROIC)---1602.14%-1186.56%-128.25%-54.13%-38.71%-38.71%
Gross Margin75.26%51.71%44.01%62.96%73.5%78.17%75.25%59.86%
Net Margin-125.15%-68.81%-79.18%-171.27%-106.23%-60.19%-39.85%-33.26%
Debt / Equity-0.67x0.51x1.55x13.25x2.97x-7.84x
Interest Coverage-9.21x-3.12x-8.57x-7.11x-4.47x-4.20x-3.57x-4.47x
FCF Conversion0.71x0.68x0.65x0.69x0.44x1.13x0.66x0.79x
Revenue Growth20.16%85.55%19.64%-29.89%28.46%45.3%24.08%29.05%

BDSX SEC Filings & Documents

Biodesix, Inc. (BDSX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Feb 26, 2026·SEC

Material company update

Nov 3, 2025·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Mar 1, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 4, 2026·SEC

FY 2025

Nov 3, 2025·SEC

FY 2025

Aug 7, 2025·SEC

BDSX Frequently Asked Questions

Biodesix, Inc. (BDSX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Biodesix, Inc. (BDSX) reported $96.1M in revenue for fiscal year 2025. This represents a 370% increase from $20.4M in 2018.

Biodesix, Inc. (BDSX) grew revenue by 24.1% over the past year. This is strong growth.

Biodesix, Inc. (BDSX) reported a net loss of $32.0M for fiscal year 2025.

Dividend & Returns

Biodesix, Inc. (BDSX) has a return on equity (ROE) of -383.1%. Negative ROE indicates the company is unprofitable.

Biodesix, Inc. (BDSX) had negative free cash flow of $25.2M in fiscal year 2025, likely due to heavy capital investments.

Explore More BDSX

Biodesix, Inc. (BDSX) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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