$BDSX
BIODESIX INC

2023 Q3 Form 10-Q Financial Statement

#000095017023039073 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $13.49M $11.87M $10.95M
YoY Change 21.46% 8.42% -7.87%
Cost Of Revenue $3.230M $3.238M $3.980M
YoY Change -11.09% -18.64% -43.82%
Gross Profit $10.26M $8.634M $6.970M
YoY Change 37.28% 23.87% 45.21%
Gross Profit Margin 76.05% 72.73% 63.65%
Selling, General & Admin $15.50M $16.65M $15.24M
YoY Change 2.53% 9.29% 33.35%
% of Gross Profit 151.03% 192.85% 218.58%
Research & Development $1.938M $2.910M $3.361M
YoY Change -34.75% -13.42% 1.14%
% of Gross Profit 18.89% 33.7% 48.22%
Depreciation & Amortization $300.0K $300.0K $400.0K
YoY Change -25.0% -25.0% 100.0%
% of Gross Profit 2.92% 3.47% 5.74%
Operating Expenses $20.66M $22.80M $22.58M
YoY Change -4.85% 0.99% 0.46%
Operating Profit -$7.172M -$10.93M -$11.63M
YoY Change -32.4% -6.01% 9.81%
Interest Expense $2.386M $2.430M $100.0K
YoY Change -21.49% 2330.0% -87.73%
% of Operating Profit
Other Income/Expense, Net -$3.777M -$2.429M -$4.198M
YoY Change 22.27% -42.14% 415.09%
Pretax Income -$10.95M -$13.36M -$15.82M
YoY Change -20.07% -15.6% 38.78%
Income Tax
% Of Pretax Income
Net Earnings -$10.95M -$13.36M -$15.82M
YoY Change -20.07% -15.6% 38.78%
Net Earnings / Revenue -81.16% -112.5% -144.51%
Basic Earnings Per Share -$0.14 -$0.17 -$0.40
Diluted Earnings Per Share -$0.14 -$0.17 -$403.3K
COMMON SHARES
Basic Shares Outstanding 78.61M 78.46M 39.79M
Diluted Shares Outstanding 79.71M 78.51M 39.24M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.80M $17.41M $23.59M
YoY Change 30.48% -26.19% -58.14%
Cash & Equivalents $19.80M $17.41M $23.59M
Short-Term Investments
Other Short-Term Assets $3.268M $3.717M $6.019M
YoY Change -27.28% -38.25% -11.74%
Inventory
Prepaid Expenses
Receivables $5.777M $4.119M $5.452M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.89M $25.25M $35.06M
YoY Change 19.77% -27.99% -48.78%
LONG-TERM ASSETS
Property, Plant & Equipment $25.40M $19.00M $3.950M
YoY Change 496.27% 380.91% 16.93%
Goodwill $15.03M $15.03M $15.03M
YoY Change 0.0% 0.0% 0.0%
Intangibles $8.416M $8.871M $10.69M
YoY Change -17.68% -17.0% -13.81%
Long-Term Investments
YoY Change
Other Assets $6.965M $6.988M $1.551M
YoY Change 14.33% 350.55% -39.06%
Total Long-Term Assets $57.90M $52.38M $40.17M
YoY Change 48.16% 30.38% 20.44%
TOTAL ASSETS
Total Short-Term Assets $28.89M $25.25M $35.06M
Total Long-Term Assets $57.90M $52.38M $40.17M
Total Assets $86.79M $77.62M $75.23M
YoY Change 37.32% 3.18% -26.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.904M $3.501M $1.791M
YoY Change 38.29% 95.48% 54.4%
Accrued Expenses $6.946M $6.981M $6.667M
YoY Change 4.03% 4.71% 7.57%
Deferred Revenue $700.0K $1.100M $2.200M
YoY Change -56.25% -50.0% 0.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $50.00K $11.77M
YoY Change -99.3% -99.58% 278.98%
Total Short-Term Liabilities $32.65M $27.95M $33.07M
YoY Change -12.74% -15.49% 55.48%
LONG-TERM LIABILITIES
Long-Term Debt $25.00M $24.66M $8.596M
YoY Change 412.3% 186.85% -71.3%
Other Long-Term Liabilities $815.0K $896.0K $70.00K
YoY Change 1258.33% 1180.0% -95.59%
Total Long-Term Liabilities $55.58M $56.67M $34.48M
YoY Change 93.76% 64.32% -37.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.65M $27.95M $33.07M
Total Long-Term Liabilities $55.58M $56.67M $34.48M
Total Liabilities $88.23M $84.62M $67.56M
YoY Change 33.48% 25.25% -11.14%
SHAREHOLDERS EQUITY
Retained Earnings -$410.4M -$399.5M -$333.4M
YoY Change 18.25% 19.83% 20.28%
Common Stock $88.00K $79.00K $40.00K
YoY Change 114.63% 97.5% 48.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.446M -$6.993M $7.671M
YoY Change
Total Liabilities & Shareholders Equity $86.79M $77.62M $75.23M
YoY Change 37.32% 3.18% -26.1%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$10.95M -$13.36M -$15.82M
YoY Change -20.07% -15.6% 38.78%
Depreciation, Depletion And Amortization $300.0K $300.0K $400.0K
YoY Change -25.0% -25.0% 100.0%
Cash From Operating Activities -$3.840M $937.0K -$9.594M
YoY Change -62.83% -109.77% -976.97%
INVESTING ACTIVITIES
Capital Expenditures $5.880M $6.472M -$380.0K
YoY Change -821.47% -1803.16% 10.47%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$5.880M -$6.472M -$380.0K
YoY Change 621.47% 1603.16% 10.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.15M -2.330M 22.13M
YoY Change -636.42% -110.53% 7832.97%
NET CHANGE
Cash From Operating Activities -3.840M 937.0K -9.594M
Cash From Investing Activities -5.880M -6.472M -380.0K
Cash From Financing Activities 12.15M -2.330M 22.13M
Net Change In Cash 2.430M -7.865M 12.16M
YoY Change -118.12% -164.68% 1081.63%
FREE CASH FLOW
Cash From Operating Activities -$3.840M $937.0K -$9.594M
Capital Expenditures $5.880M $6.472M -$380.0K
Free Cash Flow -$9.720M -$5.535M -$9.214M
YoY Change 2.14% -39.93% -740.75%

Facts In Submission

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-15586000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
7781000
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
14329000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
17000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1368000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-15824000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
7671000
us-gaap Profit Loss
ProfitLoss
-32058000
us-gaap Profit Loss
ProfitLoss
-31410000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1569000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1806000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1394000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
728000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2952000
us-gaap Share Based Compensation
ShareBasedCompensation
3338000
us-gaap Share Based Compensation
ShareBasedCompensation
2714000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-61000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
367000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-39000
bdsx Accrued Interest Amortization Of Debt Issuance Costs And Other
AccruedInterestAmortizationOfDebtIssuanceCostsAndOther
2695000
bdsx Accrued Interest Amortization Of Debt Issuance Costs And Other
AccruedInterestAmortizationOfDebtIssuanceCostsAndOther
2174000
us-gaap Inventory Write Down
InventoryWriteDown
115000
us-gaap Inventory Write Down
InventoryWriteDown
535000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
20000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
81000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-580000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1757000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1349000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-690000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-933000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1236000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1195000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
49000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-392000
bdsx Tenant Improvement Allowances Received
TenantImprovementAllowancesReceived
12978000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-320000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-513000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6749000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22693000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14093000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
591000
bdsx Payments For Proceeds From Patent Costs And Intangible Asset Acquisition Net
PaymentsForProceedsFromPatentCostsAndIntangibleAssetAcquisitionNet
85000
bdsx Payments For Proceeds From Patent Costs And Intangible Asset Acquisition Net
PaymentsForProceedsFromPatentCostsAndIntangibleAssetAcquisitionNet
141000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14178000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-732000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16135000
bdsx Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
420000
bdsx Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
202000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
87000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
92000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
4262000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
6625000
bdsx Proceeds From Issuance Of Term Loan And Notes Payable
ProceedsFromIssuanceOfTermLoanAndNotesPayable
15102000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
24000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3025000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
832000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2115000
bdsx Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
129000
bdsx Payment Of Equity Financing Costs
PaymentOfEquityFinancingCosts
61000
bdsx Payment Of Equity Financing Costs
PaymentOfEquityFinancingCosts
323000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-79000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-15000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4751000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19299000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25678000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4126000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43174000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32798000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17496000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28672000
bdsx Common Stock Issued For Deferred Offering Costs
CommonStockIssuedForDeferredOfferingCosts
600000
bdsx Deferred Offering Costs Amortized Against Additional Paid In Capital
DeferredOfferingCostsAmortizedAgainstAdditionalPaidInCapital
18000
bdsx Original Issuance Discount
OriginalIssuanceDiscount
1025000
bdsx Debt Issuance Costs Included In Accounts Payable And Other Accrued Liabilities
DebtIssuanceCostsIncludedInAccountsPayableAndOtherAccruedLiabilities
118000
bdsx Issuance Of Perceptive Warrants
IssuanceOfPerceptiveWarrants
674000
bdsx Equity Financing Costs Included In Accounts Payable And Other Accrued Liabilities
EquityFinancingCostsIncludedInAccountsPayableAndOtherAccruedLiabilities
47000
bdsx Operating Lease Right Of Use Assets Obtained In Exchange For Lease Liabilities At Adoption Of Asc842
OperatingLeaseRightOfUseAssetsObtainedInExchangeForLeaseLiabilitiesAtAdoptionOfAsc842
1269000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
858000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3403000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
773000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
123000
us-gaap Interest Paid Net
InterestPaidNet
2119000
us-gaap Interest Paid Net
InterestPaidNet
344000
bdsx Purchases Of Property And Equipment Included In Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccruedLiabilities
27000
bdsx Number Of Cancer Test
NumberOfCancerTest
5
bdsx Number Of Commercial Blood Based Test
NumberOfCommercialBloodBasedTest
2
bdsx Number Of Sars Co V2 Test
NumberOfSARSCoV2Test
3
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk and Other Uncertainties</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Substantially all of the Company’s cash and cash equivalents are deposited with one major financial institution in the United States. The Company continually monitors its positions with, and the credit quality of, the financial institution with which it holds cash. Periodically throughout the year, the Company has maintained balances in various operating accounts in excess of federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Several of the components for certain of the Company's sample collection kits, test reagents, and test systems are obtained from single-source suppliers. If these single-source suppliers fail to satisfy the Company's requirements on a timely basis, the Company could suffer delays in being able to deliver its diagnostic solutions, a possible loss of revenue, or incur higher costs, any of which could adversely affect its operating results.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">For a discussion of credit risk concentration of accounts receivable as of June 30, 2023 and December 31, 2022, see Note 9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> – Revenue and Accounts Receivable Credit Concentration</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
100000
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
100000
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
100000
us-gaap Inventory Write Down
InventoryWriteDown
100000
us-gaap Inventory Write Down
InventoryWriteDown
500000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
For lease classification determination, Management continues to use (i) 75% or greater to determine whether the lease term is a major part of the remaining economic life of the underlying asset and (ii) 90% or greater to determine whether the present value of the sum of lease payments is substantially all of the fair value of the underlying asset.
CY2023Q2 us-gaap Customer Funds
CustomerFunds
5000000.0
CY2022Q4 us-gaap Customer Funds
CustomerFunds
5000000.0
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26587000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12866000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7591000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7018000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18996000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5848000
CY2023Q2 us-gaap Depreciation
Depreciation
300000
us-gaap Depreciation
Depreciation
600000
CY2022Q2 us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
800000
CY2023Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
18959000
CY2023Q2 bdsx Intangible Assets Accumulated Amortization Excluding Goodwill
IntangibleAssetsAccumulatedAmortizationExcludingGoodwill
10088000
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
8871000
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
18894000
CY2022Q4 bdsx Intangible Assets Accumulated Amortization Excluding Goodwill
IntangibleAssetsAccumulatedAmortizationExcludingGoodwill
9097000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
9797000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1000000.0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1000000.0
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
990000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1973000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1967000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1953000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1003000
CY2023Q2 bdsx Finite Lived Intangible Assets Amortization Expense Year Five And Thereafter
FiniteLivedIntangibleAssetsAmortizationExpenseYearFiveAndThereafter
871000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8757000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3913000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4671000
CY2023Q2 bdsx Accrued Clinical Trial Expense Current
AccruedClinicalTrialExpenseCurrent
1270000
CY2022Q4 bdsx Accrued Clinical Trial Expense Current
AccruedClinicalTrialExpenseCurrent
1232000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1798000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2315000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6981000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8218000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5395000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5074000
CY2023Q2 us-gaap Notes Payable
NotesPayable
24708000
CY2022Q4 us-gaap Notes Payable
NotesPayable
25053000
CY2023Q2 us-gaap Notes Payable Current
NotesPayableCurrent
50000
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
49000
CY2023Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
24658000
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
25004000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
25000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
50000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
21000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
30000000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
30103000
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
2200000
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
us-gaap Operating Lease Expense
OperatingLeaseExpense
800000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y6M
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.114
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1689000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2406000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4032000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4144000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4063000
CY2023Q2 bdsx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
32264000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
48598000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22940000
CY2023Q2 bdsx Lessee Operating Lease Liability Amount Representing Tenant Improvement Allowances
LesseeOperatingLeaseLiabilityAmountRepresentingTenantImprovementAllowances
5346000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
20312000
CY2023Q2 bdsx Tenant Improvement Allowances Expected To Be Received
TenantImprovementAllowancesExpectedToBeReceived
5300000
CY2023Q2 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2028-02-23
bdsx Primary Sources Of Revenue Description
PrimarySourcesOfRevenueDescription
We derive our revenue from two primary sources: (i) providing diagnostic testing in the clinical setting (Diagnostic tests); and (ii) providing biopharmaceutical companies with services that include diagnostic research, clinical research, clinical trial testing, development and testing services generally provided outside the clinical setting and governed by individual contracts with third parties as well as development and commercialization of companion diagnostics (Services).
CY2023Q2 us-gaap Revenues
Revenues
11872000
CY2022Q2 us-gaap Revenues
Revenues
10950000
us-gaap Revenues
Revenues
20928000
us-gaap Revenues
Revenues
17498000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
400000
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1100000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
21305
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1057000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1368000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3338000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2714000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2541000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.40
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1489000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
372000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.94
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
236000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.96
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
116000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.75
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2561000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.85
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
386000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1563000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.77
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7M6D
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
331000
bdsx Description Of Offering Period Under Plan
DescriptionOfOfferingPeriodUnderPlan
ESPP provides for successive six-month offering periods beginning on September 1st and March 1st of each year.
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
269846
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
476301
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-13356000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-15824000
us-gaap Net Income Loss
NetIncomeLoss
-32058000
us-gaap Net Income Loss
NetIncomeLoss
-31410000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78506000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78506000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39239000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39239000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78138000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78138000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35177000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35177000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.40
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.40
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.89
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12564000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5096000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12564000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5096000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2022Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0

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