Biodesix (NASDAQ:BDSX) Releases Earnings Results, Beats Estimates By $0.19 EPS

Biodesix (NASDAQ:BDSX) issued its earnings results on Wednesday. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.19, FiscalAI reports. Biodesix had a negative return on equity of 1,684.25% and a negative net margin of 26.97%.The firm had revenue of $26.86 million during 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 Price Performance

NASDAQ BDSX traded up $1.12 during trading hours on Friday, reaching $23.22. 16,126 shares of the company’s stock were exchanged, compared to its average volume of 640,061. The stock has a market cap of $240.56 million, a PE ratio of -7.32 and a beta of 0.56. Biodesix has a one year low of $5.26 and a one year high of $25.00. The firm has a fifty day moving average of $19.51 and a 200-day moving average of $15.64. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 5.09.

Hedge Funds Weigh In On Biodesix

A number of institutional investors and hedge funds have recently bought and sold shares of BDSX. XTX Topco Ltd grew its stake in shares of 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 purchasing an additional 102,494 shares during the last quarter. Millennium Management LLC acquired a new position in Biodesix during the 3rd quarter valued at about $113,000. Geode Capital Management LLC boosted its stake in shares of Biodesix by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock valued at $289,000 after purchasing an additional 2,235 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Biodesix during the 4th quarter worth approximately $105,000. Finally, State Street Corp grew its position in shares of Biodesix by 15.6% during the 4th quarter. State Street Corp now owns 17,802 shares of the company’s stock worth $121,000 after buying an additional 2,400 shares during the period. Institutional investors and hedge funds own 20.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BDSX shares. Canaccord Genuity Group increased their price objective on shares of Biodesix from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings raised shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target (up from $26.00) on shares of Biodesix in a research report on Thursday. Finally, Roth Capital assumed coverage on Biodesix in a research note on Wednesday, June 24th. They issued a “buy” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Biodesix has an average rating of “Moderate Buy” and an average price target of $28.67.

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.