Healthcare · Medical - Diagnostics & Research
Price
$21.34
Market Cap
$173.7M
Employees
273
Beta
0.59
Avg Volume
64,145
CEO
Scott Hutton
Business Description
Biodesix, Inc. is a data-driven diagnostic solutions provider operating across the United States. Its primary focus includes a comprehensive suite of blood-based lung tests, marketed as the Nodify Lung Nodule Risk Assessment (which includes Nodify XL2 and Nodify CDT). These assessments enable clinicians to evaluate the risk of lung cancer in patients with suspicious nodules, aiding in the reclassification of malignancy risk and guiding appropriate treatment pathways. Beyond risk assessment, Biodesix offers additional lung cancer diagnostics such as GeneStrat ddPCR, which detects specific tumor mutations, and VeriStrat, which gauges the patient's immune system status. Both are crucial for establishing prognosis and informing treatment plans. Another offering is the GeneStrat NGS (Next-Generation Sequencing) test, a rapid, blood-based sequencing solution providing results within 72 hours. Through a partnership with Bio-Rad Laboratories, Inc., Biodesix also provides COVID-19 testing services under its Biodesix WorkSafe program, featuring the Bio-Rad SARS-CoV-2 ddPCR test and the Platelia SARS-CoV-2 Total Ab test, an antibody assay for detecting a B-cell immune response indicating recent or prior infection. Furthermore, the company extends its expertise to biopharmaceutical companies, offering diagnostic and clinical research services, alongside clinical trial testing. It also actively discovers, develops, and commercializes companion diagnostics. Originally incorporated as Elston Technologies, Inc. in 2005, Biodesix, Inc. maintains its headquarters in Boulder, Colorado.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-4.57
Stock Price: $21.34
EPS (Diluted): -4.67
EPS (Diluted): -4.67
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-20.83
Stock Price: $21.34
Total Equity: -$2.47M
Shares: 7,551,000
Total Equity: -$2.47M
Shares: 7,551,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-4.79
Market Cap: $173.71M
Total Debt: $47.45M
Cash: $18.99M
EBITDA: -$21.95M
Total Debt: $47.45M
Cash: $18.99M
EBITDA: -$21.95M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$105.2M
Market Cap: $173.71M
Total Debt: $47.45M
Cash: $18.99M
Total Debt: $47.45M
Cash: $18.99M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.58
Stock Price: $21.34
Revenue: $88.50M
Shares: 7,551,000
Revenue: $88.50M
Shares: 7,551,000
EV/Sales (Total value vs revenue — works when P/E can't)
API1.19
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
81.1%
Gross Profit: $71.78M
Revenue: $88.50M
Revenue: $88.50M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-31.4%
Operating Income: -$27.77M
Revenue: $88.50M
Revenue: $88.50M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-39.8%
Net Income: -$35.27M
Revenue: $88.50M
Revenue: $88.50M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
1,430.6%
Net Income: -$35.27M
Total Equity: -$2.47M
Total Equity: -$2.47M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-106.8%
Operating Income: -$27.77M
Tax Rate: 0.0%
Equity: -$2.47M
Total Debt: $47.45M
Cash: $18.99M
Tax Rate: 0.0%
Equity: -$2.47M
Total Debt: $47.45M
Cash: $18.99M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.86
Current Assets: $32.52M
Current Liabilities: $17.44M
Current Liabilities: $17.44M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-19.25
Short-Term Debt: $6,000
Long-Term Debt: $47.45M
Total Debt: $47.45M
Total Equity: -$2.47M
Long-Term Debt: $47.45M
Total Debt: $47.45M
Total Equity: -$2.47M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$11.72
Revenue: $88.50M
Shares: 7,551,000
Shares: 7,551,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-0.33
Total Equity: -$2.47M
Shares: 7,551,000
Shares: 7,551,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-3.14
Operating CF: -$23.27M
CapEx: -$403,000
Shares: 7,551,000
CapEx: -$403,000
Shares: 7,551,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $21.34
Stock Price: $21.34
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$35.27M
Net Income: -$35.27M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares BDSX against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 25, 2026 10:38am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $54.5M | $38.2M | $49.1M | $71.3M | $88.5M |
| Cost of Revenue | $30.5M | $14.2M | $13.0M | $15.6M | $16.7M |
| Gross Profit | $24.0M | $24.1M | $36.1M | $55.8M | $71.8M |
| Operating Expenses | $64.9M | $74.6M | $77.4M | $90.2M | $99.5M |
| Operating Income | -$40.9M | -$50.6M | -$41.3M | -$34.5M | -$27.8M |
| Net Income | -$43.2M | -$65.4M | -$52.1M | -$42.9M | -$35.3M |
| EBITDA | -$35.5M | -$51.5M | -$37.1M | -$29.2M | -$21.9M |
| EPS | $-31.60 | $-31.00 | $-12.80 | $-6.60 | $-4.67 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 25, 2026 10:38am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $32.7M | $43.1M | $26.3M | $26.2M | $19.0M |
| Total Current Assets | $43.6M | $53.3M | $39.7M | $39.5M | $32.5M |
| Total Assets | $76.1M | $92.9M | $99.1M | $97.2M | $87.5M |
| Current Liabilities | $29.0M | $22.8M | $33.4M | $14.3M | $17.4M |
| Long-Term Debt | $10.0M | $25.0M | $35.2M | $36.4M | $47.4M |
| Total Liabilities | $56.4M | $72.3M | $94.5M | $76.4M | $89.9M |
| Total Equity | $19.7M | $20.6M | $4.6M | $20.9M | -$2.5M |
| Retained Earnings | -$302.0M | -$367.4M | -$419.6M | -$462.5M | -$497.8M |
Cash Flow (Annual)
Last updated: Jun 25, 2026 10:38am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$28.2M | -$45.0M | -$22.9M | -$48.6M | -$23.3M |
| Capital Expenditure | -$2.5M | -$3.5M | -$23.1M | -$3.2M | $-403,000 |
| Free Cash Flow | -$30.8M | -$48.5M | -$45.9M | -$51.9M | -$23.7M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$29.5M | $10.4M | -$16.8M | $-39,000 | -$7.3M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:08am (23h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$132.8M $131.7M – $133.7M
|
$155.6M $154.4M – $156.8M
|
$182.1M $180.7M – $183.5M
|
$198.0M $196.4M – $199.6M
|
| EBITDA |
-$81.4M -$81.9M – -$80.7M
|
-$95.4M -$96.1M – -$94.6M
|
-$111.6M -$112.5M – -$110.7M
|
-$121.3M -$122.3M – -$120.4M
|
| Net Income |
-$13.3M -$14.1M – -$12.5M
|
-$8.3M -$11.6M – -$5.1M
|
-$2.3M -$2.4M – -$2.3M
|
$2.0M $1.9M – $2.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 25, 2026 10:38am (1d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -29.9% | +28.5% | +45.3% | +24.1% |
| Gross Profit Growth | +0.3% | +50.0% | +54.5% | +28.8% |
| Operating Income Growth | -23.6% | +18.3% | +16.6% | +19.5% |
| Net Income Growth | -51.6% | +20.3% | +17.7% | +17.9% |
| EBITDA Growth | -45.3% | +28.0% | +21.3% | +24.9% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for BDSX — it's generated by the pipeline (
market-narrative step).
No community reviews yet for BDSX.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30