Biodesix Inc
biodesix.comWhat Do They Do?
Sells blood-based tests that help healthcare providers assess lung nodules and guide lung cancer treatment, and provides diagnostic testing and development services to biopharmaceutical, life sciences and diagnostic companies.
10-K for FY2025, filed Feb 26, 2026We derive our revenue from two sources: (i) Biodesix Lung Diagnostic Testing (Lung Diagnostic Testing), providing lung diagnostic testing…View ↗
Our tests support clinical decisions to expedite personalized care and improve outcomes for patients with lung disease. We believe our…View ↗
We enable the world’s leading biopharmaceutical, life sciences, and academic research institutions with scientific, technological, and…View ↗
How Do They Make Money?
Healthcare providers' lung tests are billed to Medicare, medical facilities, commercial insurers or patients when results are delivered; development customers pay for diagnostic testing and scientific work when results or agreed milestones are delivered, or over a contract term.
10-K for FY2025, filed Feb 26, 2026
-
10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service ↗
$88.5M
-
10-K for FY2025, filed Feb 26, 2026
$88.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Diagnostic Tests
Sold outright
10-K for FY2025, filed Feb 26, 2026 |
89%
FY2022: 90%
|
Diagnostic Tests, FY2025
$79.2M Sources
|
Sold outright |
|
Development Services
Mix
10-K for FY2025, filed Feb 26, 2026 |
11% |
Development Services, FY2025
$9.3M Sources
|
Mix |
Who Are Their Customers?
Healthcare providers order lung tests for patients; bills go to Medicare, medical facilities, commercial insurers or patients. Biopharmaceutical, life sciences, diagnostic and research organizations buy development work under written agreements.
10-K for FY2025, filed Feb 26, 2026Diagnostic Tests revenues consist of blood-based lung tests which are recognized in the amount expected to be received in exchange for…View ↗
Development Services revenue consists of on-market tests, pipeline tests, custom diagnostic testing, and other scientific services for a…View ↗
For our Biodesix Lung Diagnostic Tests, commercial efforts are focused on the promotion of our tests to healthcare professionals actively…View ↗
We enable the world’s leading biopharmaceutical, life sciences, and academic research institutions with scientific, technological, and…View ↗
10-K for FY2025, filed Feb 26, 2026
We collect reimbursement on behalf of customers covered by Medicare, which accounted for 32% and 39% of the Company’s total revenue for the…View ↗
Do Revenues Turn Into Profits?
No. It lost $35.3M in FY2025.
10-K for FY2025, filed Feb 26, 2026
−$27.9MView ↗
10-K for FY2025, filed Feb 26, 2026
−$35.3MView ↗
10-K for FY2025, filed Feb 26, 2026
−$23.5MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$7.3MView ↗
- ▼ −37% (Loss)
- vs −$11.5M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 5, 2026
Company maintained full-year revenue guidance
The full-year 2026 outlook is $108–114 million, with the midpoint representing approximately 25% growth over 2025.
Sources
8-K, filed Aug 5, 2026
For full year 2026, the Company expects total revenue of $108–114 million, with the midpoint representing approximately 25% growth over…View ↗
Growing. Revenue grew 62% in 4 years, from $54.5M in FY2021 to $88.5M in FY2025, about 13% a year.
Shift in diagnostic scope
The older report included pandemic testing among Diagnostic Tests alongside blood-based lung tests; the latest describes Diagnostic Tests as blood-based lung tests and sets Development Services apart.
10-K for FY2022, filed Mar 6, 2023 10-K for FY2025, filed Feb 26, 2026
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