Biodesix (BDSX) AI Stock Analysis

• Market Cap: $60.46M
• Dividend Yield: N/A
• Average Volume (3M): 107.55K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.84
• Revenue Growth: 22.29%
• EPS Growth: 31.93%
• Country: US
• Employees: 273
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -1.16
• Shares Outstanding: 7,955,685
• 10 Day Avg. Volume: 48,205
• 30 Day Avg. Volume: 107,552
• PEG Ratio: 0.10
• Price to Book (P/B): 9.50
• Price to Sales (P/S): 2.78
• P/FCF Ratio: -3.82
• Enterprise Value/Market Cap: 1.53
• Enterprise Value/Revenue: 1.16
• Enterprise Value/Gross Profit: 1.45
• Enterprise Value/Ebitda: -3.45
• 1Y Price Target: $30.00
• Price Target Upside: 297.88% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $7.50 ▼(-0.53% Downside)

Biodesix's overall stock score is primarily impacted by its weak financial performance and valuation challenges. Despite positive earnings call highlights and short-term technical strength, the company's financial instability and lack of profitability weigh heavily on its score.

Positive Factors

Revenue Growth

The 20% YoY revenue growth indicates strong demand for Biodesix's diagnostic tests, supporting long-term business expansion and market penetration.

Improved Gross Margins

Improved gross margins reflect efficient cost management, enhancing profitability potential and financial sustainability over the long term.

Expansion of Sales Force

Expanding the sales force strengthens market reach and customer engagement, likely driving future revenue growth and market share gains.

Negative Factors

High Financial Leverage

High financial leverage poses risks to financial stability, potentially limiting strategic flexibility and increasing vulnerability to economic downturns.

Negative Cash Flows

Negative cash flows indicate liquidity challenges, which could hinder the company's ability to invest in growth opportunities and meet financial obligations.

Net Loss

Ongoing net losses highlight operational challenges and the need for strategic improvements to achieve profitability and ensure long-term viability.

Biodesix Business Overview & Revenue Model

Company Description

Biodesix, 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.

How the Company Makes Money

Biodesix generates revenue primarily through the sale of its diagnostic tests, which are offered to medical institutions, oncology clinics, and healthcare providers. The company's revenue model is centered around test reimbursements from insurance companies and healthcare payers, allowing them to capture a portion of the revenue generated from patient testing. In addition to test sales, Biodesix may also engage in partnerships with pharmaceutical companies for companion diagnostics, which can further enhance revenue. The company benefits from strategic collaborations and agreements that expand its market reach and facilitate access to new technologies and patient populations, thereby contributing to its overall earnings.

Biodesix Financial Statement Overview

Summary

Biodesix shows revenue growth but struggles with profitability and cash flow. High leverage and negative equity returns indicate financial instability, though strong gross margins suggest potential for improvement if cost management is addressed.

Income Statement

Biodesix shows a consistent increase in revenue with a TTM growth rate of 2.81%, indicating positive momentum. However, the company struggles with profitability, as evidenced by negative net profit margins and EBIT margins. The gross profit margin is strong at 78.77% TTM, but the persistent negative net income highlights ongoing challenges in cost management and operational efficiency.

Balance Sheet

The balance sheet reveals significant leverage with a TTM debt-to-equity ratio of 63.39, indicating high financial risk. The return on equity is negative, reflecting losses and insufficient returns for shareholders. The equity ratio is low, suggesting limited asset backing by equity, which could pose risks in financial stability.

Cash Flow

Cash flow analysis shows a negative free cash flow growth rate of -30.86% TTM, indicating deteriorating cash generation. The operating cash flow to net income ratio is negative, highlighting cash flow challenges. However, the free cash flow to net income ratio is slightly positive, suggesting some ability to cover net losses with free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	80.17M	71.32M	49.09M	38.21M	54.51M	45.56M
Gross Profit	63.99M	55.75M	36.08M	24.06M	23.99M	23.56M
EBITDA	-26.91M	-29.22M	-37.10M	-51.53M	-35.47M	-20.84M
Net Income	-39.54M	-42.93M	-52.15M	-65.45M	-43.16M	-31.35M
Balance Sheet
Total Assets	88.72M	97.24M	99.10M	92.91M	76.10M	121.07M
Cash, Cash Equivalents and Short-Term Investments	16.70M	26.25M	26.28M	43.09M	32.71M	62.13M
Total Debt	72.93M	61.98M	60.69M	31.85M	10.01M	27.77M
Total Liabilities	90.44M	76.37M	94.52M	72.30M	56.37M	79.90M
Stockholders Equity	-1.72M	20.88M	4.58M	20.61M	19.73M	41.17M
Cash Flow
Free Cash Flow	-29.27M	-51.88M	-45.93M	-48.51M	-30.77M	-23.54M
Operating Cash Flow	-28.14M	-48.65M	-22.87M	-44.97M	-28.22M	-21.37M
Investing Cash Flow	-1.18M	-3.44M	-23.06M	-3.53M	-2.55M	-2.93M
Financing Cash Flow	14.53M	52.05M	29.13M	58.88M	1.26M	81.13M

Biodesix Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDSX, the sentiment is Positive. The current price of 7.54 is above the 20-day moving average (MA) of 7.00, above the 50-day MA of 7.52, and below the 200-day MA of 9.92, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 52.66 is Neutral, neither overbought nor oversold. The STOCH value of 58.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BDSX.

Biodesix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PRPO	55 Neutral	$32.51M	-16.60	-14.76%	―	27.05%	55.03%
BNR	55 Neutral	$121.79M	-6.04	-22.66%	―	5.33%	75.52%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BDSX	48 Neutral	$60.46M	-1.42	-302.55%	―	22.29%	31.93%
VNRX	40 Underperform	$46.59M	-1.61	―	―	35.10%	39.15%
SERA	39 Underperform	$95.92M	―	-44.24%	―	0.93%	13.99%
CHEK	26 Underperform	$9.13M	―	―	―	―	―

Biodesix Corporate Events

Biodesix, Inc. at Risk: How a Federal Shutdown Could Disrupt Revenue and Growth

Biodesix, Inc. faces significant business risks from a prolonged federal government shutdown, especially if it disrupts Medicare, Medicaid, or other federally funded healthcare programs. These programs are crucial to the company’s revenue stream, and any payment delays, coverage issues, or patient access problems could severely impact financial performance. Furthermore, such a shutdown might postpone regulatory approvals, impeding the launch of new products and stalling growth opportunities. This situation underscores the vulnerability of Biodesix to governmental operations and the broader implications for its business continuity.

Biodesix, Inc. Reports Strong Q3 Growth and Optimistic Outlook

Biodesix, Inc. recently held its earnings call, revealing a positive sentiment driven by strong revenue growth, improved gross margins, and significant advancements in lung diagnostics and development services. Despite challenges with Medicare Advantage payments and a net loss, the overall outlook remains optimistic due to the company’s achievements and positive trends in growth and operational improvements.

Biodesix Reports Strong Q3 2025 Revenue Growth

Biodesix, Inc. is a diagnostic solutions company specializing in lung disease diagnostics and development services for biopharmaceutical and research institutions. In its third-quarter 2025 earnings report, Biodesix reported a 20% increase in revenue to $21.8 million and a gross profit margin improvement to 81%. The company also raised its full-year 2025 revenue guidance to $84-86 million, reflecting strong performance and strategic expansion into primary care. Key financial highlights include a 16% increase in Lung Diagnostic Testing revenue and a 97% growth in Development Services revenue. Despite a net loss of $8.7 million, the company showed improvement in its adjusted EBITDA and operating expenses. Looking forward, Biodesix is optimistic about achieving adjusted EBITDA positivity in the fourth quarter, driven by its expanding market reach and operational excellence.

Biodesix Regains Nasdaq Compliance with Bid Price

On September 26, 2025, Biodesix, Inc. announced that it has regained compliance with the Nasdaq’s minimum bid price requirement, ensuring its continued listing on The Nasdaq Global Market. This follows a previous notification in March 2025, when the company’s stock had fallen below the $1.00 per share minimum, but has now maintained a closing bid price of at least $1.00 for ten consecutive business days, resolving the issue.

The most recent analyst rating on (BDSX) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on Biodesix stock, see the BDSX Stock Forecast page.

Biodesix Implements Reverse Stock Split on September 15

On September 15, 2025, Biodesix, Inc. implemented a one-for-twenty reverse stock split of its common stock, following approval from its Board of Directors and stockholders earlier in May 2025. This move, effective as of September 15, 2025, aims to adjust the trading price of its common stock, with no fractional shares issued; instead, stockholders will receive cash for fractional entitlements. Additionally, on September 12, 2025, the company filed a Certificate of Elimination to remove provisions related to its Series A Non-Voting Convertible Preferred Stock, marking a strategic shift in its stock structure.

The most recent analyst rating on (BDSX) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Biodesix stock, see the BDSX Stock Forecast page.

Biodesix Announces Reverse Stock Split Effective Sept 15

On September 11, 2025, Biodesix, Inc. announced a one-for-twenty reverse stock split of its common stock, effective September 15, 2025. This move, approved by stockholders in May 2025, will reduce the number of outstanding shares from approximately 156 million to 8 million, while maintaining the same percentage ownership for stockholders, except for fractional shares which will be compensated in cash. The reverse stock split will also adjust the number of shares and exercise prices for the company’s outstanding equity awards and warrants, aiming to enhance the company’s stock market positioning.

The most recent analyst rating on (BDSX) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Biodesix stock, see the BDSX Stock Forecast page.

Biodesix, Inc. Reports Strong Q2 2025 Growth

Biodesix, Inc. Reports Strong Revenue Growth Amidst Challenges

Biodesix Reports Strong Q2 2025 Revenue Growth

Biodesix, Inc. is a diagnostic solutions company specializing in lung disease diagnostics and personalized care, operating within the healthcare sector. In its latest earnings report, Biodesix announced a 12% increase in revenue for the second quarter of 2025, reaching $20 million, and a gross profit margin improvement to 80%. The company also reaffirmed its full-year revenue guidance of $80-85 million. Key financial highlights include a significant 53% growth in Development Services revenue and an increase in lung diagnostic testing revenue by 8%. The company expanded its sales team by 21% and saw a notable rise in digital ordering and primary care physician engagement. Despite a net loss of $11.5 million, Biodesix remains optimistic about achieving Adjusted EBITDA positivity by the fourth quarter, driven by sales team expansion and operational effectiveness. Looking forward, Biodesix is confident in its growth trajectory and aims for sustainable long-term success, supported by its strategic initiatives and market expansion efforts.