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

Biodesix (NASDAQ:BDSX) released its quarterly earnings data on Wednesday. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.19, FiscalAI reports. The company had revenue of $26.86 million for the quarter, compared to analyst estimates 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 Stock Performance

Biodesix stock traded down $2.19 on Thursday, reaching $20.59. 32,958 shares of the stock were exchanged, compared to its average volume of 642,780. The firm has a fifty day moving average price of $19.39 and a two-hundred day moving average price of $15.54. The stock has a market cap of $213.28 million, a PE ratio of -5.07 and a beta of 0.56. Biodesix has a twelve month low of $5.26 and a twelve month high of $25.00. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 5.09.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BDSX shares. Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. HC Wainwright started coverage on Biodesix in a research note on Monday, June 15th. They issued a “buy” rating and a $26.00 target price on the stock. Canaccord Genuity Group upped their price target on shares of Biodesix from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Roth Capital began coverage on shares of Biodesix in a research report 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 issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.33.

Hedge Funds Weigh In On Biodesix

Several institutional investors and hedge funds have recently made changes to their positions in BDSX. XTX Topco Ltd lifted its stake in Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after buying an additional 102,494 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Biodesix during the fourth quarter worth about $68,000. DRW Securities LLC acquired a new stake in shares of Biodesix in the fourth quarter valued at approximately $105,000. Millennium Management LLC acquired a new stake in Biodesix in the 3rd quarter valued at $113,000. Finally, State Street Corp boosted its stake 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 last quarter. Institutional investors and hedge funds own 20.96% of the company’s stock.

Biodesix Company Profile

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.