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

Biodesix (NASDAQ:BDSX) announced its earnings results on Wednesday. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.19, FiscalAI reports. The company had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.03 million. Biodesix had a negative return on equity of 2,101.40% and a negative net margin of 33.26%.

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

Biodesix stock traded up $0.03 during mid-day trading on Wednesday, reaching $22.78. 43,090 shares of the company’s stock traded hands, compared to its average volume of 647,034. Biodesix has a 12-month low of $5.26 and a 12-month high of $24.92. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 5.09. The stock has a 50 day moving average of $19.23 and a two-hundred day moving average of $15.44. The company has a market cap of $236.00 million, a price-to-earnings ratio of -5.61 and a beta of 0.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers purchased a new position in Biodesix during the fourth quarter worth $68,000. Trexquant Investment LP bought a new position in Biodesix in the 4th quarter valued at $187,000. State Street Corp increased its stake in Biodesix by 15.6% in the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock worth $121,000 after purchasing an additional 2,400 shares during the period. DRW Securities LLC purchased a new position in Biodesix in the 4th quarter worth about $105,000. Finally, Geode Capital Management LLC grew its stake in Biodesix by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock worth $289,000 after acquiring an additional 2,235 shares in the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Wall Street Analysts Forecast Growth

BDSX has been the subject of several analyst reports. Roth Capital assumed coverage on shares of Biodesix in a report on Wednesday, June 24th. They issued a “buy” rating and a $32.00 target price for the company. Weiss Ratings upgraded Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Canaccord Genuity Group increased their target price on Biodesix from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, HC Wainwright assumed coverage on Biodesix in a research note on Monday, June 15th. They issued a “buy” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Biodesix presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

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.