Biodesix reports Q2 EPS (8c), consensus (9c)

Reports Q2 revenue $17.9M, consensus $16.2M. “The second quarter marks sustained excellence in our execution, resulting in outstanding revenue growth coupled with consistently strong gross margins, and continued improvement on our path to profitability,” said Scott Hutton, CEO of Biodesix. “The team’s performance led to 51% growth in revenue and as a result we are raising our 2024 total revenue guidance to $70-$72 million, up from previously provided guidance of $65-$68 million. In combination with our revenue growth, our cost-disciplined approach resulted in improvements of 19% in Net Loss and 38% in Adjusted EBITDA, demonstrating progress on our path to profitability. It is important to note that our industry-leading commercial engine is continuing to drive market adoption of our five on-market lung diagnostic tests. These tests are transforming the diagnosis and treatment of patients with lung cancer. We have an incredible team of professionals dedicated and driven to making a difference in patients’ lives. I continue to be thankful for the team and our intentional focus on workplace culture so that we attract and retain the best talent.”