Biodesix (BDSX) AI Stock Analysis

• Market Cap: $57.04M
• Dividend Yield: N/A
• Average Volume (3M): 236.38K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.77
• Revenue Growth: 25.70%
• EPS Growth: 39.25%
• Country: US
• Employees: 273
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -1.60
• Shares Outstanding: 8,000,000
• 10 Day Avg. Volume: 209,687
• 30 Day Avg. Volume: 236,376
• PEG Ratio: 0.10
• Price to Book (P/B): 9.50
• Price to Sales (P/S): 2.78
• P/FCF Ratio: -3.82
• Enterprise Value/Market Cap: 1.63
• Enterprise Value/Revenue: 1.21
• Enterprise Value/Gross Profit: 1.54
• Enterprise Value/Ebitda: -3.13
• 1Y Price Target: $11.00
• Price Target Upside: 54.28% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 42 Neutral
• Price Target: $0.50 ▼(-92.99% Downside)

Biodesix's overall stock score is primarily impacted by financial instability due to high leverage and negative profitability. While there are positive signs in revenue growth and improved gross margins, these are overshadowed by ongoing losses and cash flow challenges. The technical analysis suggests some short-term momentum, but the valuation remains unattractive due to negative earnings. The earnings call provides a balanced view of achievements and challenges, but the financial risks remain significant.

Positive Factors

Revenue Growth

The consistent revenue growth, particularly in lung diagnostic testing, indicates strong market demand and effective sales strategies, supporting long-term business expansion.

Gross Margin Improvement

Improved gross margins reflect enhanced operational efficiency and pricing power, which can lead to better profitability and financial health over time.

Development Services Growth

The significant growth in Development Services highlights Biodesix's ability to diversify revenue streams and leverage strategic partnerships, bolstering its competitive position.

Negative Factors

High Leverage

High leverage can strain cash flow and limit financial flexibility, posing risks to long-term stability and ability to invest in growth initiatives.

Increased Operating Expenses

Rising operating expenses can erode profitability and offset revenue gains, necessitating better cost management to sustain financial health.

Negative Cash Flow

Negative cash flow growth indicates challenges in generating sufficient cash to cover operations and investments, impacting long-term viability.

Biodesix Business Overview & Revenue Model

Company Description

Biodesix, Inc. operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules. It also offers GeneStrat ddPCR and VeriStrat tests, which are used in the diagnosis of lung cancer to measure the presence of mutations in the tumor and the state of the patient's immune system to establish the patient's prognosis and help guide treatment decisions; and GeneStrat NGS (NGS) test, a 72-hour blood-based NGS test. In addition, the company, through its partnership with Bio-Rad Laboratories, Inc., provides Bio-Rad SARS-CoV-2 ddPCR, a COVID-19 Test under Biodesix WorkSafe testing program; and Platelia SARS-CoV-2 Total Ab test, an antibody test for detecting a B-cell immune response to SARS-CoV-2 that indicate recent or prior infection. Further, it offers diagnostic and clinical research, as well as clinical trial testing services to biopharmaceutical companies; and discovers, develops, and commercializes companion diagnostics. The company was formerly known as Elston Technologies, Inc. Biodesix, Inc. was incorporated in 2005 and is headquartered in Boulder, Colorado.

How the Company Makes Money

Biodesix generates revenue primarily through the sale of its diagnostic tests, which are offered to medical institutions, oncology clinics, and healthcare providers. The company's revenue model is centered around test reimbursements from insurance companies and healthcare payers, allowing them to capture a portion of the revenue generated from patient testing. In addition to test sales, Biodesix may also engage in partnerships with pharmaceutical companies for companion diagnostics, which can further enhance revenue. The company benefits from strategic collaborations and agreements that expand its market reach and facilitate access to new technologies and patient populations, thereby contributing to its overall earnings.

Biodesix Financial Statement Overview

Summary

Biodesix is experiencing revenue growth, but profitability and cash flow challenges persist. High leverage and negative equity returns indicate financial instability, while strong gross margins suggest potential for improvement if cost management is addressed. The company needs to focus on reducing debt and improving operational efficiency to enhance financial health.

Income Statement

Biodesix shows a consistent increase in revenue with a TTM growth rate of 2.81%, indicating positive momentum. However, the company struggles with profitability, as evidenced by negative net profit margins and EBIT margins. The gross profit margin is strong at 78.77% TTM, but the persistent negative net income highlights ongoing challenges in cost management and operational efficiency.

Balance Sheet

The balance sheet reveals significant leverage with a TTM debt-to-equity ratio of 63.39, indicating high financial risk. The return on equity is negative, reflecting losses and insufficient returns for shareholders. The equity ratio is low, suggesting limited asset backing by equity, which could pose risks in financial stability.

Cash Flow

Cash flow analysis shows a negative free cash flow growth rate of -30.86% TTM, indicating deteriorating cash generation. The operating cash flow to net income ratio is negative, highlighting cash flow challenges. However, the free cash flow to net income ratio is slightly positive, suggesting some ability to cover net losses with free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	76.56M	71.32M	49.09M	38.21M	54.51M	45.56M
Gross Profit	60.30M	55.75M	36.08M	24.06M	23.99M	23.56M
EBITDA	-29.63M	-29.22M	-37.10M	-53.78M	-35.47M	-20.84M
Net Income	-41.08M	-42.93M	-52.15M	-65.45M	-43.16M	-31.35M
Balance Sheet
Total Assets	87.74M	97.24M	99.10M	92.91M	76.10M	121.07M
Cash, Cash Equivalents and Short-Term Investments	20.73M	26.25M	26.28M	43.09M	32.71M	62.13M
Total Debt	72.14M	61.98M	60.69M	31.85M	10.01M	27.77M
Total Liabilities	86.60M	76.37M	94.52M	72.30M	56.37M	79.90M
Stockholders Equity	1.14M	20.88M	4.58M	20.61M	19.73M	41.17M
Cash Flow
Free Cash Flow	-31.30M	-51.88M	-45.93M	-48.51M	-30.77M	-23.54M
Operating Cash Flow	-29.94M	-48.65M	-22.87M	-44.97M	-28.22M	-21.37M
Investing Cash Flow	-1.40M	-3.44M	-23.06M	-3.53M	-2.55M	-2.93M
Financing Cash Flow	9.85M	52.05M	29.13M	58.88M	1.26M	81.13M

Biodesix Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.13
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDSX, the sentiment is Negative. The current price of 7.13 is below the 20-day moving average (MA) of 8.41, below the 50-day MA of 7.94, and below the 200-day MA of 13.37, indicating a bearish trend. The MACD of -0.33 indicates Positive momentum. The RSI at 44.00 is Neutral, neither overbought nor oversold. The STOCH value of 19.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BDSX.

Biodesix Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XGN	61 Neutral	210.35M	-10.72	-80.73%	―	3.89%	7.92%
MDXH	57 Neutral	204.92M	-4.73	-256.51%	―	22.56%	41.62%
SERA	49 Neutral	125.60M	-3.89	-68.82%	―	0.93%	13.99%
VNRX	47 Neutral	73.16M	-2.79	73.31%	―	35.10%	39.15%
ACRS	43 Neutral	206.91M	-1.40	-102.21%	―	-47.56%	-65.54%
BDSX	42 Neutral	$57.04M	―	-219.68%	―	25.70%	39.25%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Biodesix Corporate Events

Biodesix Announces Reverse Stock Split Effective Sept 15

On September 11, 2025, Biodesix, Inc. announced a one-for-twenty reverse stock split of its common stock, effective September 15, 2025. This move, approved by stockholders in May 2025, will reduce the number of outstanding shares from approximately 156 million to 8 million, while maintaining the same percentage ownership for stockholders, except for fractional shares which will be compensated in cash. The reverse stock split will also adjust the number of shares and exercise prices for the company’s outstanding equity awards and warrants, aiming to enhance the company’s stock market positioning.

The most recent analyst rating on (BDSX) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Biodesix stock, see the BDSX Stock Forecast page.