tiprankstipranks
Trending News
More News >
Biodesix, Inc. (BDSX)
:BDSX
US Market
Advertisement

Biodesix (BDSX) AI Stock Analysis

Compare
279 Followers

Top Page

BDSX

Biodesix

(NASDAQ:BDSX)

Rating:49Neutral
Price Target:
$0.50
▲(16.28% Upside)
Biodesix's stock score is primarily impacted by financial instability due to high leverage and negative returns, despite some positive revenue growth and technical momentum. The mixed earnings call results and poor valuation metrics further weigh down the score.
Positive Factors
Financial Performance
The company reported 2Q25 results that were ahead of estimates and FactSet consensus, showing solid lung diagnostics test volume growth and revenue growth.
Sales Strategy
BDSX's rapid near-term sales force expansion and updated primary care commercial focus could drive continued top-line growth.
Negative Factors
Revenue Guidance
Biodesix decreased its 2025 revenue guidance to $80-85 million from $92-95 million, driven by relatively slower than anticipated expansion of the sales force.
Sales Force Challenges
The company's 1Q25 performance was impacted by meaningful decreases to the sales force and slower than anticipated hiring of new primary care focused sales reps.

Biodesix (BDSX) vs. SPDR S&P 500 ETF (SPY)

Biodesix Business Overview & Revenue Model

Company DescriptionBiodesix, 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 MoneyBiodesix generates revenue through the sale of its proprietary diagnostic tests to healthcare providers, hospitals, and laboratories. These tests are primarily designed for the oncology market, offering actionable insights into the management of lung cancer. The company's key revenue streams include direct sales of its tests and partnerships with pharmaceutical companies who utilize Biodesix's diagnostics to enhance their drug development processes. Biodesix also benefits from reimbursement agreements with insurance providers, which facilitate the adoption of its tests in clinical practice. Additionally, collaborations with research institutions contribute to its revenue by expanding the use cases and applications of its diagnostic technologies.

Biodesix Earnings Call Summary

Earnings Call Date:Aug 07, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Oct 31, 2025
Earnings Call Sentiment Neutral
The earnings call reflects positive developments in revenue growth, particularly in lung diagnostic testing and development services, as well as in operational efficiency with improved gross margins. However, these positives are offset by increased operating expenses, net loss, and adjusted EBITDA loss, which paint a balanced picture of achievements and challenges.
Q2-2025 Updates
Positive Updates
Revenue Growth
Biodesix reported a 12% increase in total revenue year-over-year, achieving $20 million in the second quarter of 2025.
Lung Diagnostic Testing Expansion
The company increased lung diagnostic testing revenue by 8% and test volumes by 9%, with $17.9 million in revenue from approximately 15,100 tests.
Development Services Growth
Development Services revenue grew 53% year-over-year to $2.1 million, with $12.5 million under contract, representing a 54% increase over the prior year and an all-time high.
Improved Gross Margins
Gross margins improved by 150 basis points to 80%, despite increases in supply costs and macroeconomic uncertainty.
Primary Care Strategy Success
Primary care ordering of lung diagnostic tests increased to 9% in June, up from 4% prior to the pilot program in 2024.
Negative Updates
Increased Operating Expenses
Overall operating expenses increased by 15% year-over-year to $25.7 million, driven by sales team expansion and increased R&D expenses.
Increased Net Loss
The net loss for the second quarter was $11.5 million, representing a 6% increase year-over-year.
Adjusted EBITDA Loss
Adjusted EBITDA loss increased by 29% year-over-year, amounting to $7.2 million.
Company Guidance
During the Biodesix Q2 2025 earnings call, the company provided guidance on its strategic and financial goals. They reported a 12% year-over-year increase in revenue, reaching $20 million, with lung diagnostic testing contributing $17.9 million from approximately 15,100 tests, marking an 8% revenue growth and 9% increase in test volumes. Biodesix aims to achieve a positive adjusted EBITDA by Q4 2025, driven primarily by revenue growth and an expansion of their sales team, which averaged 74 reps in Q2 and is expected to reach 93 to 97 by Q4. The company also reported a gross margin improvement of 150 basis points to 80% and highlighted the success of their Development Services, which saw a 53% revenue increase to $2.1 million, with $12.5 million under contract—an all-time high. Additionally, Biodesix noted the significant growth in electronic ordering, which increased by 63% over the previous year, contributing to a 40% higher customer retention rate in offices utilizing digital ordering.

Biodesix Financial Statement Overview

Summary
Biodesix shows revenue growth but struggles with profitability and cash flow management. High leverage and negative cash flows highlight financial challenges, necessitating strategic improvements for long-term stability.
Income Statement
40
Negative
Biodesix's revenue has shown growth over the years, with a significant increase from 2022 to the TTM period. However, the company continues to operate at a net loss with negative net profit margins, indicating challenges in profitability. Despite good gross profit margins, the recurring negative EBIT and EBITDA margins highlight ongoing operational inefficiencies.
Balance Sheet
35
Negative
The balance sheet reveals a high level of debt relative to equity, indicating potential financial risk. The company has a low equity ratio, which may limit its financial stability. The consistent negative return on equity further reflects the challenges in generating returns for shareholders.
Cash Flow
30
Negative
The operating cash flow remains negative, and the free cash flow is deteriorating, suggesting cash burn concerns. Although there is substantial financing activity, it primarily supports short-term liquidity rather than operational sustainability. The ratios of operating and free cash flow to net income are unfavorable, indicating challenges in converting earnings to cash.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue76.56M71.32M49.09M38.21M54.51M45.56M
Gross Profit60.30M55.75M36.08M24.06M23.99M23.56M
EBITDA-29.63M-29.22M-37.10M-53.78M-35.47M-20.84M
Net Income-41.08M-42.93M-52.15M-65.45M-43.16M-31.35M
Balance Sheet
Total Assets87.74M97.24M99.10M92.91M76.10M121.07M
Cash, Cash Equivalents and Short-Term Investments20.73M26.25M26.28M43.09M32.71M62.13M
Total Debt72.14M61.98M60.69M31.85M10.01M27.77M
Total Liabilities86.60M76.37M94.52M72.30M56.37M79.90M
Stockholders Equity1.14M20.88M4.58M20.61M19.73M41.17M
Cash Flow
Free Cash Flow-31.30M-51.88M-45.93M-48.51M-30.77M-23.54M
Operating Cash Flow-29.94M-48.65M-22.87M-44.97M-28.22M-21.37M
Investing Cash Flow-1.40M-3.44M-23.06M-3.53M-2.55M-2.93M
Financing Cash Flow9.85M52.05M29.13M58.88M1.26M81.13M

Biodesix Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.43
Price Trends
50DMA
0.37
Positive
100DMA
0.38
Positive
200DMA
0.73
Negative
Market Momentum
MACD
0.02
Positive
RSI
53.39
Neutral
STOCH
46.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDSX, the sentiment is Neutral. The current price of 0.43 is above the 20-day moving average (MA) of 0.42, above the 50-day MA of 0.37, and below the 200-day MA of 0.73, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 53.39 is Neutral, neither overbought nor oversold. The STOCH value of 46.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BDSX.

Biodesix Risk Analysis

Biodesix disclosed 83 risk factors in its most recent earnings report. Biodesix reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Biodesix Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$216.96M-87.94%3.89%7.92%
55
Neutral
$209.08M-101.41%-47.56%-65.54%
53
Neutral
$175.72M-1552.23%22.56%41.62%
51
Neutral
$7.86B-0.33-41.39%2.23%23.26%-2.03%
49
Neutral
$62.55M-219.68%25.70%39.23%
47
Neutral
$74.24M138.92%35.10%39.15%
44
Neutral
$122.94M-44.24%0.93%13.99%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
BDSX
Biodesix
0.43
-1.42
-76.76%
VNRX
VolitionRX
0.66
-0.05
-7.04%
ACRS
Aclaris Therapeutics
1.99
0.84
73.04%
MDXH
MDxHealth
3.60
0.69
23.71%
XGN
Exagen
9.61
6.71
231.38%
SERA
Sera Prognostics
3.33
-3.79
-53.23%

Biodesix Corporate Events

Shareholder MeetingsStock Split
Biodesix Approves Reverse Stock Split at Annual Meeting
Neutral
May 21, 2025

Biodesix, Inc. held its 2025 annual meeting of stockholders on May 20, 2025, where several key decisions were made. The stockholders elected two Class II directors, ratified KPMG LLP as the independent registered public accounting firm, approved a reverse stock split of the company’s common stock, and amended the Employee Stock Purchase Plan to increase available shares.

The most recent analyst rating on (BDSX) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Biodesix stock, see the BDSX Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 23, 2025