$BDSX
BIODESIX INC

2023 Q4 Form 10-Q Financial Statement

#000095017023060226 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $14.67M $13.49M
YoY Change 52.68% 21.46%
Cost Of Revenue $3.374M $3.230M
YoY Change 2.06% -11.09%
Gross Profit $11.29M $10.26M
YoY Change 79.24% 37.28%
Gross Profit Margin 77.0% 76.05%
Selling, General & Admin $16.25M $15.50M
YoY Change -2.26% 2.53%
% of Gross Profit 143.89% 151.03%
Research & Development $1.889M $1.938M
YoY Change -47.01% -34.75%
% of Gross Profit 16.73% 18.89%
Depreciation & Amortization $977.0K $300.0K
YoY Change 8.8% -25.0%
% of Gross Profit 8.65% 2.92%
Operating Expenses $18.14M $20.66M
YoY Change -10.16% -4.85%
Operating Profit -$6.846M -$7.172M
YoY Change -50.71% -32.4%
Interest Expense -$2.329M $2.386M
YoY Change -8.67% -21.49%
% of Operating Profit
Other Income/Expense, Net $60.00K -$3.777M
YoY Change -24.05% 22.27%
Pretax Income -$9.139M -$10.95M
YoY Change -55.06% -20.07%
Income Tax
% Of Pretax Income
Net Earnings -$9.139M -$10.95M
YoY Change -55.06% -20.07%
Net Earnings / Revenue -62.31% -81.16%
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.10 -$0.14
COMMON SHARES
Basic Shares Outstanding 90.48M 78.61M
Diluted Shares Outstanding 79.71M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.28M $19.80M
YoY Change -39.0% 30.48%
Cash & Equivalents $26.28M $19.80M
Short-Term Investments
Other Short-Term Assets $5.720M $3.268M
YoY Change 10.4% -27.28%
Inventory
Prepaid Expenses
Receivables $7.679M $5.777M
Other Receivables $0.00 $0.00
Total Short-Term Assets $39.68M $28.89M
YoY Change -25.6% 19.77%
LONG-TERM ASSETS
Property, Plant & Equipment $27.87M $25.40M
YoY Change 376.52% 496.27%
Goodwill $15.03M $15.03M
YoY Change 0.0% 0.0%
Intangibles $7.911M $8.416M
YoY Change -19.25% -17.68%
Long-Term Investments
YoY Change
Other Assets $6.859M $6.965M
YoY Change 15.8% 14.33%
Total Long-Term Assets $59.41M $57.90M
YoY Change 50.14% 48.16%
TOTAL ASSETS
Total Short-Term Assets $39.68M $28.89M
Total Long-Term Assets $59.41M $57.90M
Total Assets $99.10M $86.79M
YoY Change 6.66% 37.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.929M $2.904M
YoY Change 73.83% 38.29%
Accrued Expenses $7.710M $6.946M
YoY Change -6.18% 4.03%
Deferred Revenue $300.0K $700.0K
YoY Change -70.0% -56.25%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $51.00K $100.0K
YoY Change 4.08% -99.3%
Total Short-Term Liabilities $33.42M $32.65M
YoY Change 46.31% -12.74%
LONG-TERM LIABILITIES
Long-Term Debt $35.23M $25.00M
YoY Change 40.88% 412.3%
Other Long-Term Liabilities $712.0K $815.0K
YoY Change 27.6% 1258.33%
Total Long-Term Liabilities $61.10M $55.58M
YoY Change 23.53% 93.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.42M $32.65M
Total Long-Term Liabilities $61.10M $55.58M
Total Liabilities $94.52M $88.23M
YoY Change 30.73% 33.48%
SHAREHOLDERS EQUITY
Retained Earnings -$419.6M -$410.4M
YoY Change 14.19% 18.25%
Common Stock $96.00K $88.00K
YoY Change 23.08% 114.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.580M -$1.446M
YoY Change
Total Liabilities & Shareholders Equity $99.10M $86.79M
YoY Change 6.66% 37.32%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$9.139M -$10.95M
YoY Change -55.06% -20.07%
Depreciation, Depletion And Amortization $977.0K $300.0K
YoY Change 8.8% -25.0%
Cash From Operating Activities -$12.28M -$3.840M
YoY Change 2.8% -62.83%
INVESTING ACTIVITIES
Capital Expenditures $3.001M $5.880M
YoY Change 51.03% -821.47%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.001M -$5.880M
YoY Change 51.03% 621.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.73M 12.15M
YoY Change -48.08% -636.42%
NET CHANGE
Cash From Operating Activities -12.28M -3.840M
Cash From Investing Activities -3.001M -5.880M
Cash From Financing Activities 21.73M 12.15M
Net Change In Cash 6.444M 2.430M
YoY Change -76.91% -118.12%
FREE CASH FLOW
Cash From Operating Activities -$12.28M -$3.840M
Capital Expenditures $3.001M $5.880M
Free Cash Flow -$15.28M -$9.720M
YoY Change 9.68% 2.14%

Facts In Submission

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CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1745000
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
57000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1170000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-13699000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-2903000
us-gaap Profit Loss
ProfitLoss
-43007000
us-gaap Profit Loss
ProfitLoss
-45109000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2351000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2699000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1851000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1499000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3004000
us-gaap Share Based Compensation
ShareBasedCompensation
4292000
us-gaap Share Based Compensation
ShareBasedCompensation
3884000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1332000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
467000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-27000
bdsx Accrued Interest Amortization Of Debt Issuance Costs And Other
AccruedInterestAmortizationOfDebtIssuanceCostsAndOther
3954000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15261000
bdsx Accrued Interest Amortization Of Debt Issuance Costs And Other
AccruedInterestAmortizationOfDebtIssuanceCostsAndOther
5011000
us-gaap Inventory Write Down
InventoryWriteDown
115000
us-gaap Inventory Write Down
InventoryWriteDown
837000
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
1178000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
765000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1798000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1868000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
26000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3645000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-247000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-646000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-395000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-985000
bdsx Tenant Improvement Allowances Received
TenantImprovementAllowancesReceived
18323000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-237000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-730000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10587000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33024000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19935000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1368000
bdsx Payments For Proceeds From Patent Costs And Intangible Asset Acquisition Net
PaymentsForProceedsFromPatentCostsAndIntangibleAssetAcquisitionNet
126000
bdsx Payments For Proceeds From Patent Costs And Intangible Asset Acquisition Net
PaymentsForProceedsFromPatentCostsAndIntangibleAssetAcquisitionNet
179000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20061000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1547000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15316000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17966000
bdsx Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
643000
bdsx Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
355000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
90000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
149000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
7591000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
8691000
bdsx Proceeds From Issuance Of Term Loan And Notes Payable
ProceedsFromIssuanceOfTermLoanAndNotesPayable
15102000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
36000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5038000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
833000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2249000
bdsx Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
129000
bdsx Payment Of Equity Financing Costs
PaymentOfEquityFinancingCosts
61000
bdsx Payment Of Equity Financing Costs
PaymentOfEquityFinancingCosts
407000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-127000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-24000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7401000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17034000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23247000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17537000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43174000
bdsx Common Stock Issued For Deferred Offering Costs
CommonStockIssuedForDeferredOfferingCosts
600000
bdsx Deferred Offering Costs Amortized Against Additional Paid In Capital
DeferredOfferingCostsAmortizedAgainstAdditionalPaidInCapital
52000
bdsx Original Issuance Discount
OriginalIssuanceDiscount
1025000
bdsx Issuance Of Perceptive Warrants
IssuanceOfPerceptiveWarrants
674000
bdsx Equity Financing Costs Included In Accounts Payable And Other Accrued Liabilities
EquityFinancingCostsIncludedInAccountsPayableAndOtherAccruedLiabilities
14000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32798000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19927000
us-gaap Inventory Write Down
InventoryWriteDown
800000
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
867000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3694000
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
3241000
us-gaap Interest Paid Net
InterestPaidNet
473000
bdsx Purchases Of Property And Equipment Included In Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccruedLiabilities
824000
bdsx Purchases Of Property And Equipment Included In Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccruedLiabilities
69000
bdsx Patent Costs Included In Accrued Liabilities
PatentCostsIncludedInAccruedLiabilities
10000
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
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19800000
CY2023Q3 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
30000000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk and Other Uncertainties</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For a discussion of credit risk concentration of accounts receivable as of September 30, 2023 and December 31, 2022, see Note 9</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> – Revenue and Accounts Receivable Credit Concentration</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
100000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
100000
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
100000
us-gaap Inventory Write Down
InventoryWriteDown
100000
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.
CY2023Q3 us-gaap Customer Funds
CustomerFunds
5000000
CY2022Q4 us-gaap Customer Funds
CustomerFunds
5000000
CY2022Q4 bdsx Intangible Assets Accumulated Amortization Excluding Goodwill
IntangibleAssetsAccumulatedAmortizationExcludingGoodwill
9097000
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33271000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12866000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7876000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7018000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25395000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5848000
CY2023Q3 us-gaap Depreciation
Depreciation
300000
us-gaap Depreciation
Depreciation
900000
CY2022Q3 us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
1200000
CY2023Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
19000000
CY2023Q3 bdsx Intangible Assets Accumulated Amortization Excluding Goodwill
IntangibleAssetsAccumulatedAmortizationExcludingGoodwill
10584000
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
8416000
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
18894000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
9797000
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
496000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1978000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1972000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1958000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1007000
CY2023Q3 bdsx Finite Lived Intangible Assets Amortization Expense Year Five And Thereafter
FiniteLivedIntangibleAssetsAmortizationExpenseYearFiveAndThereafter
891000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8302000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3263000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4671000
CY2023Q3 bdsx Accrued Clinical Trial Expense Current
AccruedClinicalTrialExpenseCurrent
1304000
CY2022Q4 bdsx Accrued Clinical Trial Expense Current
AccruedClinicalTrialExpenseCurrent
1232000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2379000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2315000
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6946000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8218000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5090000
CY2023Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2028-02-23
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5074000
CY2023Q3 us-gaap Notes Payable
NotesPayable
25000000
CY2022Q4 us-gaap Notes Payable
NotesPayable
25053000
CY2023Q3 us-gaap Notes Payable Current
NotesPayableCurrent
50000
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
49000
CY2023Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
24950000
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
25004000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
13000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
50000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
21000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
30000000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
30090000
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
1100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
3300000
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
900000
us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y8M12D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.114
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1073000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2406000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4032000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4144000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4063000
CY2023Q3 bdsx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
32263000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
47981000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22232000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
25749000
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 provided outside the clinical setting and governed by individual contracts with third parties as well as development and commercialization of companion diagnostics. We also recognize revenue from other services, including amounts derived from licensing our technologies (Services and other).
CY2023Q3 us-gaap Revenues
Revenues
13491000
CY2022Q3 us-gaap Revenues
Revenues
11107000
us-gaap Revenues
Revenues
34419000
us-gaap Revenues
Revenues
28605000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1000000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
900000
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
700000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
772663
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
954000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1170000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4292000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3884000
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
8.4
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
427000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.85
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
313000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
8.88
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
122000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.74
bdsx Stock Issued During Period Shares Stock Options Cancelled Under The Option Exchange
StockIssuedDuringPeriodSharesStockOptionsCancelledUnderTheOptionExchange
-589000
bdsx Share Based Compensation Arrangements By Share Based Payment Award Option Cancelled Under The Option Exchange Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionCancelledUnderTheOptionExchangeWeightedAverageExercisePrice
20.43
bdsx Stock Issued During Period Shares Stock Options Granted Under The Option Exchange
StockIssuedDuringPeriodSharesStockOptionsGrantedUnderTheOptionExchange
123000
bdsx Share Based Compensation Arrangements By Share Based Payment Award Option Granted Under The Option Exchange Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionGrantedUnderTheOptionExchangeWeightedAverageExercisePrice
1.2
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2067000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.57
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M12D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
772000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1256000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.36
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M6D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
600000
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
437135
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
309012
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-10949000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-13699000
us-gaap Net Income Loss
NetIncomeLoss
-43007000
us-gaap Net Income Loss
NetIncomeLoss
-45109000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79709000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79709000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40448000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40448000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78672000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78672000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36953000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36953000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.22
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11651
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4751000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11651
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4751000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2022Q3 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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