Biodesix (NASDAQ:BDSX) Releases Quarterly Earnings Results

Biodesix (NASDAQ:BDSX) posted its quarterly earnings results on Wednesday. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.19, FiscalAI reports. Biodesix had a negative return on equity of 2,101.40% and a negative net margin of 33.26%.The company had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.03 million.

Here are the key takeaways from Biodesix’s conference call:

• Q2 revenue rose 34% year over year to $26.9 million, while diagnostic testing revenue increased 42% and test volumes grew 38% to approximately 20,900. Growth was supported by stronger adoption in both primary care and pulmonology, as well as improved average revenue per test.
• Primary-care testing volume increased 133% year over year and now represents approximately 15% of total testing volume. Management said the recent clinical publication supporting Nodify CDT use in small nodules is driving new account wins and broader use of both Nodify CDT and Nodify XL2.
• Profitability metrics continued to improve, with gross margin reaching 82%, net loss narrowing 37% to $7.3 million, and adjusted EBITDA loss improving 56% to $3.2 million. Excluding $6.5 million of ATM proceeds, quarterly cash use fell 70% year over year to $2.1 million.
• Biodesix maintained its full-year 2026 revenue outlook of $108 million to $114 million and expects operating expenses to remain relatively steady with moderate increases as it expands to approximately 120 sales representatives by year-end. Management emphasized disciplined hiring and continued progress toward sustained adjusted EBITDA profitability, while noting that biopharma services revenue can be seasonal and lumpy.

Biodesix Stock Up 0.1%

NASDAQ:BDSX traded up $0.03 during trading hours on Wednesday, hitting $22.78. 43,090 shares of the stock traded hands, compared to its average volume of 647,034. The firm has a 50 day moving average price of $19.23 and a 200 day moving average price of $15.44. The firm has a market cap of $236.00 million, a price-to-earnings ratio of -5.61 and a beta of 0.56. Biodesix has a fifty-two week low of $5.26 and a fifty-two week high of $24.92. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 5.09.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group lifted their target price on Biodesix from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Roth Capital began coverage on shares of Biodesix in a research note on Wednesday, June 24th. They set a “buy” rating and a $32.00 price objective for the company. Finally, HC Wainwright started coverage on shares of Biodesix in a research note on Monday, June 15th. They set a “buy” rating and a $26.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd raised its position in Biodesix by 99.4% during the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after buying an additional 102,494 shares during the period. Cetera Investment Advisers purchased a new stake in Biodesix in the 4th quarter worth about $68,000. DRW Securities LLC acquired a new stake in Biodesix during the 4th quarter worth about $105,000. Millennium Management LLC acquired a new stake in Biodesix during the 3rd quarter worth about $113,000. Finally, State Street Corp grew its stake in Biodesix by 15.6% during the 4th quarter. State Street Corp now owns 17,802 shares of the company’s stock valued at $121,000 after acquiring an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

About Biodesix

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company’s flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.