Biodesix earnings date
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Biodesix (BDSX) Q3 2026 Earnings Report
BDSX Q3 2026 EPS Results
- Actual EPS
- -$0.75
- Consensus EPS
- -$0.75
- Beat/Miss
- Missed by -$0.00
- One Year Ago EPS
- -$1.16
BDSX Q3 2026 Revenue Results
- Actual Revenue
- $24.04M
- Expected Revenue
- $27.48M
- Beat/Miss
- Missed by -$3.44M
- YoY Revenue Growth
- +10.44%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- After Close
- Conference Call
- Thursday, November 5, 2026
Biodesix's next earnings date is estimated for March 16, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call had a mixed but overall positive tone. Biodesix reported solid year-over-year revenue, diagnostic testing volume, margin and adjusted EBITDA improvements, continued clinical validation, expanding health system integrations and progress in digital diagnostics and MRD programs. These positives were tempered by results falling short of expectations, reduced sales capacity, primary care seasonality, lower development services revenue, a 6% decline in average revenue per test and a modest normalized fourth-quarter growth outlook. Management characterized the main issues as execution and timing challenges rather than changes in demand or market opportunity.
For full year 2026, Biodesix now expects total revenue of $101 million to $103 million, with the midpoint representing approximately 15% growth over 2025, gross margins of approximately 80% and continued progress towards profitability; for the fourth quarter, it is anticipating around $1 million for development services and a step-up in lung diagnostic revenues over third quarter. For 2027, development services revenue is expected to be probably in the 7% to 8% of total revenue range, with a depending on the year average between 7% and 10%, and 7% to 8% is a good target for the year; the company has approximately 110 sales representatives in the field, plans to exit the year with approximately 115 representatives, and expects a hiring cadence of approximately 6 to 8 on a quarterly basis, also stated as 6% to 8%.
- Strong Revenue, Diagnostic Testing and Volume GrowthThird-quarter total revenue was $24.0 million, up 10% year-over-year from $21.8 million. Diagnostic testing revenue increased 16% to $23.0 million, while test volumes rose 24% to approximately 19,400, the company's second-highest quarterly volume.
- Sustained Gross Margin and Improving Profitability MetricsGross margin remained strong at 81%, marking the sixth consecutive quarter above 80%. Operating expenses were $25.5 million, down 3% year-over-year and 7% sequentially. Net loss improved 8% year-over-year to $8.0 million, and adjusted EBITDA loss improved 16% to $3.9 million.
- Continued Physician Retention and Primary Care AdoptionPrimary care represented approximately 15% of Nodify volumes, consistent with the prior quarter. The company reported strong retention among ordering physicians and stated that the quarter did not reflect a reduction in physician adoption, retention or interest in its tests.
- Commercial Capacity RecoveryThe company increased its sales force to approximately 110 representatives in the field and plans to exit the year with approximately 115. Management reported accelerating new physician acquisition, continued growth across the established customer base and broader physician engagement in early fourth-quarter trends.
- Strong October New-Physician AcquisitionOctober was described as the company's strongest month of new physician acquisition in 2026. Management also stated that the largest number of new physicians was added in October and that seasonality impacts were rebounding in both pulmonology and primary care.
- CHEST Framework Strengthens Biomarker-Based Lung Nodule ManagementThe American College of Chest Physicians introduced a lung nodule management framework that identifies validated biomarker testing as a core component of standardized risk stratification. Management said the framework supports broader health system integration of Nodify XL2 and Nodify CDT.
- Expanded Clinical Evidence for Nodify TestingAt CHEST, investigators presented real-world evidence from independent physician groups and analyses from the CLARIFY study involving more than 2,000 patients. The data evaluated clinical utility, patient follow-up and the integration of biomarker testing with PET imaging.
- Growing Enterprise Health System IntegrationsA major integrated health system on the West Coast began implementing a protocol lung nodule management program incorporating Nodify Lung testing for pulmonologists and primary care physicians. A premier academic medical center in the same region also began implementing a similar standardized care pathway.
- Continued Adoption in Smaller NodulesUse of Nodify, particularly Nodify CDT, in smaller nodules continued after the late-first-quarter publication. Management said the mix of testing in smaller nodules remained fairly steady from the second quarter and that more physicians were using CDT in these patients.
- Expansion into Digital DiagnosticsBiodesix launched a radiomics-based lung nodule risk assessment test in collaboration with Vanderbilt University and Vanderbilt Health. The test is designed to complement the Nodify portfolio, and the company anticipates commercializing it in 2028.
- Progress on Complementary MRD ProgramsThe company is developing a tumor-informed MRD assay with Bio-Rad Laboratories using its Diagnostic Cortex bioinformatics platform and Droplet Digital PCR technology, with parts per million sensitivity. Its tumor-naive assay with Thermo Fisher Scientific detects methylated ctDNA using rapid NGS on the Genexus platform. Data from both programs was scheduled for presentation at the AMP meeting.
- Development Services Backlog and New ESR1 TestDevelopment services exited the quarter with $8.7 million under contract, an increase from the prior quarter, while management said demand remained strong. The GeneStrat ESR1 ddPCR test, developed with Bio-Rad, was brought into the company's CLIA-certified, New York State CLEP-approved laboratory. Preliminary blinded-comparison results showed 100% concordance with validated reference NGS assays.
- Full-Year Growth and Margin OutlookThe company expects 2026 total revenue of $101 million to $103 million, with the midpoint representing approximately 15% growth over 2025. It continues to expect gross margins of approximately 80% and continued progress toward profitability.
- Operational Investments to Improve Ordering EfficiencyBiodesix is advancing digital ordering, EMR integrations, clinical data publications and health system integrations to make routine ordering easier for clinicians and less dependent on high-touch sales activity.
BDSX Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 16, 2027 | 2026 (Q4) | -0.69- | -0.49 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | -0.75-0.75 | -1.16 | 35.34% (+0.41) | |
| Aug 05, 2026 | 2026 (Q2) | -0.90-0.71 | -1.6 | 55.63% (+0.89) | |
| May 04, 2026 | 2026 (Q1) | -1.13-0.81 | -1.6 | 49.38% (+0.79) | |
| Feb 26, 2026 | 2025 (Q4) | -0.86-0.49 | -1.2 | 59.17% (+0.71) | |
| Nov 03, 2025 | 2025 (Q3) | -1.49-1.16 | -1.4 | 17.14% (+0.24) | |
| Aug 07, 2025 | 2025 (Q2) | -1.38-1.60 | -1.6 | 0.00% (+0.00) | |
| May 13, 2025 | 2025 (Q1) | -1.40-1.60 | -2.8 | 42.86% (+1.20) | |
| Mar 03, 2025 | 2024 (Q4) | -1.34-1.20 | -2 | 40.00% (+0.80) | |
| Nov 01, 2024 | 2024 (Q3) | -1.46-1.40 | -2.8 | 50.00% (+1.40) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
