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Biodesix (BDSX) Financials

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$19.71 -0.10 (-0.52%)
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Annual Income Statements for Biodesix

Annual Income Statements for Biodesix

This table shows Biodesix's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -31 -31 -43 -65 -52 -43 -35
Consolidated Net Income / (Loss)		 -31 -31 -43 -65 -52 -43 -35
Net Income / (Loss) Continuing Operations		 -31 -31 -43 -65 -52 -43 -35
Total Pre-Tax Income 		-31 -31 -43 -65 -52 -43 -35
Total Operating Income		 -27 -23 -41 -51 -41 -34 -28
Total Gross Profit		 25 46 55 38 49 71 88
Total Revenue		 25 46 55 38 49 71 88
Operating Revenue		 25 46 55 38 49 71 88
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 51 68 95 89 90 106 116
Selling, General & Admin Expense		 31 35 51 61 67 80 88
Research & Development Expense		 10 11 13 13 9.99 9.56 12
Other Operating Expenses / (Income)		 10 23 32 14 13 16 17
Impairment Charge		 - - 0.00 0.08 0.04 0.24 0.11
Total Other Income / (Expense), net		 -3.99 -8.42 -2.20 -15 -11 -8.43 -7.39
Interest Expense		 3.01 7.60 2.21 15 9.54 8.51 7.72
Other Income / (Expense), net		 -1.03 -0.81 0.01 0.19 -1.27 0.07 0.32
Basic Earnings per Share		 ($126.97) ($6.48) ($1.58) ($1.55) ($0.64) ($6.64) ($4.67)
Weighted Average Basic Shares Outstanding		 242K 4.84M 27.37M 42.10M 82.11M 6.47M 7.55M
Diluted Earnings per Share		 ($126.97) ($6.48) ($1.58) ($1.55) ($0.64) ($6.64) ($4.67)
Weighted Average Diluted Shares Outstanding		 242K 4.84M 27.37M 42.10M 82.11M 6.47M 7.55M
Weighted Average Basic & Diluted Shares Outstanding		 242K 4.84M 27.37M 77.97M 96.94M 145.98M 9.86M

Quarterly Income Statements for Biodesix

This table shows Biodesix's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -11 -9.14 -14 -11 -10 -8.25 -11 -11 -8.72 -3.98 -7.79
Consolidated Net Income / (Loss)		 -11 -9.14 -14 -11 -10 -8.25 -11 -11 -8.72 -3.98 -7.79
Net Income / (Loss) Continuing Operations		 -11 -9.14 -14 -11 -10 -8.32 -11 -11 -8.72 -3.98 -7.79
Total Pre-Tax Income 		-11 -9.14 -14 -11 -10 -8.32 -11 -11 -8.72 -3.98 -7.79
Total Operating Income		 -7.17 -6.87 -11 -8.24 -8.59 -6.65 -9.14 -9.72 -7.05 -1.97 -6.20
Total Gross Profit		 13 15 15 18 18 20 18 20 22 29 26
Total Revenue		 13 15 15 18 18 20 18 20 22 29 26
Operating Revenue		 13 15 15 18 18 20 18 20 22 29 26
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 21 22 26 26 27 27 27 30 29 31 32
Selling, General & Admin Expense		 15 16 21 20 20 20 20 22 22 23 24
Research & Development Expense		 1.94 1.89 2.04 2.56 2.55 2.41 2.87 3.27 2.99 2.87 3.29
Other Operating Expenses / (Income)		 3.23 3.37 3.18 3.88 4.18 4.34 3.70 4.03 4.11 4.88 4.21
Impairment Charge		 0.00 0.02 0.07 0.07 0.00 0.10 0.07 0.03 0.01 0.00 0.01
Total Other Income / (Expense), net		 -3.78 -2.27 -2.53 -2.57 -1.67 -1.67 -1.97 -1.75 -1.67 -2.01 -1.59
Interest Expense		 2.39 2.33 2.53 2.18 2.04 1.75 1.69 1.90 2.07 2.06 1.98
Other Income / (Expense), net		 -1.39 0.06 0.00 -0.39 0.37 0.09 -0.28 0.15 0.41 0.05 0.39
Basic Earnings per Share		 ($0.14) ($0.09) ($0.14) ($0.08) ($1.40) ($1.28) ($1.52) ($0.08) ($1.16) ($0.53) ($0.81)
Weighted Average Basic Shares Outstanding		 79.71M 82.11M 97.17M 127.17M 7.32M 6.47M 7.30M 146.66M 7.50M 7.55M 9.66M
Diluted Earnings per Share		 ($0.14) ($0.09) ($0.14) ($0.08) ($1.40) ($1.28) ($1.52) ($0.08) ($1.16) ($0.53) ($0.81)
Weighted Average Diluted Shares Outstanding		 79.71M 82.11M 97.17M 127.17M 7.32M 6.47M 7.30M 146.66M 7.50M 7.55M 9.66M
Weighted Average Basic & Diluted Shares Outstanding		 90.48M 96.94M 114.69M 145.18M 145.47M 145.98M 146.56M 146.63M 7.96M 9.86M 10.11M

Annual Cash Flow Statements for Biodesix

This table details how cash moves in and out of Biodesix's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -0.63 57 -30 10 -17 -0.04 -7.26
Net Cash From Operating Activities		 -22 -21 -28 -45 -23 -49 -23
Net Cash From Continuing Operating Activities		 -22 -21 -28 -45 -23 -49 -23
Net Income / (Loss) Continuing Operations		 -31 -31 -43 -65 -52 -43 -35
Consolidated Net Income / (Loss)		 -31 -31 -43 -65 -52 -43 -35
Depreciation Expense		 2.79 2.90 3.18 3.60 3.33 5.77 5.67
Amortization Expense		 0.41 5.81 2.71 7.28 5.11 2.46 1.30
Non-Cash Adjustments To Reconcile Net Income		 3.33 5.26 2.84 16 25 7.72 4.69
Changes in Operating Assets and Liabilities, net		 2.47 -3.98 6.21 -6.82 -4.53 -22 0.33
Net Cash From Investing Activities		 -1.87 -2.93 -2.55 -3.53 -23 -3.44 -0.40
Net Cash From Continuing Investing Activities		 -1.87 -2.93 -2.55 -3.53 -23 -3.44 -0.40
Purchase of Property, Plant & Equipment		 -1.31 -1.95 -2.24 -3.30 -23 -3.23 -0.26
Acquisitions		 -0.11 -0.23 -0.31 -0.24 -0.14 -0.21 -0.14
Net Cash From Financing Activities		 23 81 1.26 59 29 52 16
Net Cash From Continuing Financing Activities		 23 81 1.26 59 29 52 16
Repayment of Debt		 -0.12 3.08 -46 -32 -1.07 -0.54 -0.87
Issuance of Debt		 13 13 30 45 10 0.00 10
Issuance of Common Equity		 0.00 72 17 60 29 56 7.82
Other Financing Activities, net		 0.05 1.34 0.77 -14 -8.57 -3.66 -0.53
Cash Interest Paid		 1.80 1.84 1.68 1.01 3.99 7.02 6.40

Quarterly Cash Flow Statements for Biodesix

This table details how cash moves in and out of Biodesix's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 2.43 6.44 -15 31 -11 -5.16 -8.64 3.13 -4.12 2.38 6.59
Net Cash From Operating Activities		 -3.84 -12 -15 -19 -11 -4.10 -8.60 -6.57 -8.88 0.78 -10
Net Cash From Continuing Operating Activities		 -3.84 -12 -15 -19 -11 -4.10 -8.60 -6.57 -8.88 0.78 -10
Net Income / (Loss) Continuing Operations		 -11 -9.14 -14 -11 -10 -8.25 -11 -11 -8.72 -3.98 -7.79
Consolidated Net Income / (Loss)		 -11 -9.14 -14 -11 -10 -8.25 -11 -11 -8.72 -3.98 -7.79
Depreciation Expense		 0.78 0.98 1.42 1.41 1.49 1.45 1.44 1.44 1.41 1.39 1.40
Amortization Expense		 1.72 -0.69 1.06 1.02 0.08 0.30 0.31 0.33 0.33 0.33 0.33
Non-Cash Adjustments To Reconcile Net Income		 7.79 0.81 2.75 1.54 1.68 1.75 1.49 0.96 1.04 1.19 1.16
Changes in Operating Assets and Liabilities, net		 -3.18 -4.24 -6.93 -12 -3.67 0.66 -0.74 2.17 -2.94 1.84 -5.29
Net Cash From Investing Activities		 -5.88 -3.00 -0.27 -2.00 -0.29 -0.88 -0.14 -0.10 -0.07 -0.10 -0.14
Net Cash From Continuing Investing Activities		 -5.88 -3.00 -0.27 -2.00 -0.29 -0.88 -0.14 -0.10 -0.07 -0.10 -0.14
Purchase of Property, Plant & Equipment		 -5.84 -2.98 -0.23 -1.93 -0.23 -0.84 -0.07 -0.05 -0.05 -0.09 -0.08
Acquisitions		 -0.04 -0.02 -0.04 -0.07 -0.06 -0.05 -0.06 -0.04 -0.02 -0.02 -0.06
Net Cash From Financing Activities		 12 22 0.79 51 0.14 -0.18 0.10 9.79 4.82 1.71 17
Net Cash From Continuing Financing Activities		 12 22 0.79 51 0.14 -0.18 0.10 9.79 4.82 1.71 17
Repayment of Debt		 -0.06 -0.07 -0.10 -0.11 -0.14 -0.19 -0.22 -0.21 -0.17 -0.27 -0.19
Issuance of Common Equity		 16 13 0.91 55 0.34 0.00 0.31 - 5.18 2.32 18
Other Financing Activities, net		 -3.33 -1.01 -0.02 -3.59 -0.06 0.01 0.00 - -0.19 -0.34 -0.48
Cash Interest Paid		 1.12 0.75 1.48 1.00 1.97 2.58 1.38 1.56 1.75 1.71 1.62

Annual Balance Sheets for Biodesix

This table presents Biodesix's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 45 121 76 93 99 97 87
Total Current Assets		 13 86 44 53 40 39 33
Cash & Equivalents		 5.29 62 33 43 26 26 19
Accounts Receivable		 5.29 15 3.66 5.07 7.68 8.60 9.04
Other Current Assets		 2.12 8.71 7.25 5.18 5.72 4.64 4.50
Plant, Property, & Equipment, net		 2.12 3.18 4.18 5.85 28 28 25
Total Noncurrent Assets		 30 32 28 34 32 30 30
Goodwill		 15 15 15 15 15 15 15
Intangible Assets		 15 13 12 9.80 7.91 5.87 3.88
Other Noncurrent Operating Assets		 0.09 3.46 1.66 8.90 8.60 9.03 11
Total Liabilities & Shareholders' Equity		 45 121 76 93 99 97 87
Total Liabilities		 76 80 56 72 95 76 90
Total Current Liabilities		 23 32 29 23 33 14 17
Short-Term Debt		 12 12 18 10 22 0.02 0.01
Accounts Payable		 1.72 8.96 1.66 1.69 2.93 2.19 3.08
Accrued Expenses		 4.18 7.79 7.67 8.22 7.71 10 11
Current Deferred Revenue		 1.28 3.53 1.85 0.96 0.32 0.68 0.96
Other Current Liabilities		 3.26 - 0.00 1.58 0.55 1.36 2.36
Total Noncurrent Liabilities		 54 48 27 49 61 62 73
Long-Term Debt		 24 16 9.99 25 35 36 47
Other Noncurrent Operating Liabilities		 30 32 17 24 26 26 25
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -225 41 20 21 4.58 21 -2.47
Total Preferred & Common Equity		 -225 41 20 21 4.58 21 -2.47
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -225 41 20 21 4.58 21 -2.47
Common Stock		 2.33 300 322 388 424 483 495
Retained Earnings		 -227 -259 -302 -367 -420 -462 -498

Quarterly Balance Sheets for Biodesix

This table presents Biodesix's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 87 87 116 103 86 88 89 95
Total Current Assets		 29 28 58 44 30 32 33 41
Cash & Equivalents		 20 11 42 31 18 21 17 26
Accounts Receivable		 5.78 9.89 10 8.04 7.64 7.45 13 9.50
Other Current Assets		 3.27 7.10 5.23 4.58 4.38 4.27 4.12 5.84
Plant, Property, & Equipment, net		 25 29 28 29 27 26 25 24
Total Noncurrent Assets		 33 30 30 30 30 29 30 30
Goodwill		 15 15 15 15 15 15 15 15
Intangible Assets		 8.42 7.38 6.88 6.44 5.36 4.87 4.38 3.45
Other Noncurrent Operating Assets		 9.06 7.73 8.33 8.57 9.26 9.26 10 11
Total Liabilities & Shareholders' Equity		 87 87 116 103 86 88 89 95
Total Liabilities		 88 93 80 75 75 87 90 86
Total Current Liabilities		 33 31 18 13 13 15 18 14
Short-Term Debt		 19 19 5.88 0.03 0.02 0.02 0.01 0.00
Accounts Payable		 2.90 3.21 2.22 2.54 2.93 2.97 3.62 3.65
Accrued Expenses		 6.95 7.90 8.32 8.55 7.40 9.68 9.72 8.23
Current Deferred Revenue		 0.66 0.31 0.45 0.68 0.79 0.62 2.77 0.22
Other Current Liabilities		 2.78 0.57 0.69 1.17 2.18 1.87 2.03 2.38
Total Noncurrent Liabilities		 56 61 62 62 62 71 72 71
Long-Term Debt		 25 36 36 36 37 47 47 46
Other Noncurrent Operating Liabilities		 31 26 26 26 25 25 25 25
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -1.45 -5.50 36 28 11 1.14 -1.72 9.13
Total Preferred & Common Equity		 -1.45 -5.50 36 28 11 1.14 -1.72 9.13
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -1.45 -5.50 36 28 11 1.14 -1.72 9.13
Common Stock		 409 428 480 482 485 486 492 515
Retained Earnings		 -410 -433 -444 -454 -474 -485 -494 -506

Annual Metrics And Ratios for Biodesix

This table displays calculated financial ratios and metrics derived from Biodesix's official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 26,541,317.00 27,020,576.00 39,982,048.00 90,476,295.00 145,467,295.00 7,955,685.00
DEI Adjusted Shares Outstanding		 0.00 1,327,066.00 1,351,029.00 1,999,102.00 4,523,815.00 7,273,365.00 7,955,685.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -23.62 -31.95 -32.74 -11.53 -5.90 -4.43
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 85.55% 19.64% -29.89% 28.46% 45.30% 24.08%
EBITDA Growth		 0.00% 38.81% -133.09% -12.74% 13.52% 23.36% 21.44%
EBIT Growth		 0.00% 14.50% -72.37% -23.12% 15.45% 19.21% 19.97%
NOPAT Growth		 0.00% 14.24% -78.51% -23.56% 18.28% 16.55% 19.20%
Net Income Growth		 0.00% -2.03% -37.67% -51.64% 20.32% 17.67% 17.86%
EPS Growth		 0.00% 94.90% 75.62% 1.90% 58.71% 17.67% 29.67%
Operating Cash Flow Growth		 0.00% 1.66% -32.09% -59.35% 49.15% -112.72% 52.17%
Free Cash Flow Firm Growth		 0.00% 0.00% -56.90% 8.49% -53.46% 61.56% 26.94%
Invested Capital Growth		 0.00% 1,474.95% 117.32% -12.70% 174.39% -12.33% -16.29%
Revenue Q/Q Growth		 0.00% 0.00% -26.65% 0.00% 11.50% 8.79% 10.39%
EBITDA Q/Q Growth		 0.00% 0.00% -24.38% 0.00% 14.11% 6.11% 18.33%
EBIT Q/Q Growth		 0.00% 0.00% -23.70% 0.00% 14.12% 0.70% 14.42%
NOPAT Q/Q Growth		 0.00% 0.00% -28.28% 0.00% 14.52% 0.64% 14.38%
Net Income Q/Q Growth		 0.00% 0.00% -25.42% 0.00% 17.68% 2.03% 10.80%
EPS Q/Q Growth		 0.00% 0.00% -101.72% 0.00% 25.58% 2.03% 11.39%
Operating Cash Flow Q/Q Growth		 0.00% -16.51% -5.38% 0.00% -1.49% 14.40% 17.32%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -398.25% 9.52% 41.61% 23.92%
Invested Capital Q/Q Growth		 0.00% 0.00% 31.56% 0.00% 53.91% -4.70% -9.71%
Profitability Metrics		 - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -100.09% -33.00% -64.30% -103.40% -69.61% -36.72% -23.25%
Operating Margin		 -108.92% -50.34% -75.11% -132.39% -84.22% -48.37% -31.50%
EBIT Margin		 -113.12% -52.12% -75.09% -131.88% -86.81% -48.27% -31.13%
Profit (Net Income) Margin		 -125.15% -68.81% -79.18% -171.27% -106.23% -60.19% -39.85%
Tax Burden Percent		 100.00% 100.00% 100.04% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 110.63% 132.02% 105.40% 129.87% 122.38% 124.71% 128.01%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -508.76% -265.39% -255.65% -119.73% -72.64% -68.39%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 323.69% -191.58% 219.98% -320.18% -164.19% -149.91%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -119.12% 123.64% -68.89% -294.36% -264.66% -314.70%
Return on Equity (ROE)		 98.54% -627.88% -141.75% -324.53% -414.09% -337.30% -383.09%
Cash Return on Invested Capital (CROIC)		 0.00% -343.15% -339.33% -242.08% -212.89% -59.50% -50.65%
Operating Return on Assets (OROA)		 -61.67% -28.59% -41.52% -59.64% -44.39% -35.07% -29.83%
Return on Assets (ROA)		 -68.23% -37.75% -43.78% -77.45% -54.32% -43.73% -38.18%
Return on Common Equity (ROCE)		 711.55% 11,567.47% -141.75% -324.53% -414.09% -337.30% -383.09%
Return on Equity Simple (ROE_SIMPLE)		 13.65% -76.16% -218.78% -317.61% -1,138.56% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -19 -16 -29 -35 -29 -24 -20
NOPAT Margin		 -76.24% -35.24% -52.58% -92.67% -58.96% -33.86% -22.05%
Net Nonoperating Expense Percent (NNEP)		 39.13% -832.45% -73.80% -475.63% 200.45% 91.55% 81.53%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -46.89% -42.14% -43.37%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 124.78% 76.51% 92.68% 160.84% 137.28% 112.80% 98.92%
R&D to Revenue		 42.64% 23.75% 23.46% 34.29% 20.35% 13.40% 13.56%
Operating Expenses to Revenue		 208.92% 150.34% 175.11% 232.39% 184.22% 148.37% 131.50%
Earnings before Interest and Taxes (EBIT)		 -28 -24 -41 -50 -43 -34 -28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -25 -15 -35 -40 -34 -26 -21
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 13.00 7.25 4.46 36.35 10.66 0.00
Price to Tangible Book Value (P/TBV)		 0.00 41.56 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.93 11.75 2.62 2.41 3.39 3.12 0.61
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 73.57 9.33 6.53 5.57 7.49 3.18
Enterprise Value to Revenue (EV/Rev)		 12.08 10.99 2.53 2.21 4.02 3.26 0.93
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 -1.15 0.67 1.41 1.72 12.47 1.75 -19.25
Long-Term Debt to Equity		 -0.76 0.39 0.51 1.21 7.69 1.74 -19.25
Financial Leverage		 -0.98 -0.37 -0.65 -0.31 0.92 1.61 2.10
Leverage Ratio		 -1.44 16.63 3.24 4.19 7.62 7.71 10.03
Compound Leverage Factor		 -1.60 21.96 3.41 5.44 9.33 9.62 12.84
Debt to Total Capital		 750.80% 40.28% 58.47% 63.20% 92.58% 63.57% 105.48%
Short-Term Debt to Total Capital		 253.79% 17.18% 37.44% 18.55% 35.50% 0.04% 0.01%
Long-Term Debt to Total Capital		 497.02% 23.10% 21.04% 44.65% 57.08% 63.53% 105.47%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 4,048.40% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -4,699.21% 59.72% 41.53% 36.80% 7.42% 36.43% -5.48%
Debt to EBITDA		 -1.46 -1.85 -0.79 -0.90 -1.67 -1.39 -2.31
Net Debt to EBITDA		 -1.25 2.29 0.14 0.19 -0.90 -0.39 -1.38
Long-Term Debt to EBITDA		 -0.97 -1.06 -0.29 -0.63 -1.03 -1.39 -2.31
Debt to NOPAT		 -1.92 -1.73 -0.97 -1.00 -1.97 -1.51 -2.43
Net Debt to NOPAT		 -1.64 2.14 0.17 0.22 -1.07 -0.42 -1.46
Long-Term Debt to NOPAT		 -1.27 -0.99 -0.35 -0.71 -1.22 -1.51 -2.43
Altman Z-Score		 -8.26 1.29 -4.86 -5.76 -5.72 -5.03 -7.43
Noncontrolling Interest Sharing Ratio		 -622.06% 1,942.31% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.56 2.68 1.51 2.34 1.19 2.76 1.87
Quick Ratio		 0.47 2.41 1.26 2.11 1.02 2.43 1.61
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -23 -37 -34 -51 -20 -14
Operating Cash Flow to CapEx		 -1,658.47% -1,098.51% -1,259.39% -1,363.61% -99.79% -1,506.16% -8,984.94%
Free Cash Flow to Firm to Interest Expense		 0.00 -3.07 -16.58 -2.23 -5.40 -2.33 -1.87
Operating Cash Flow to Interest Expense		 -7.22 -2.81 -12.77 -2.99 -2.40 -5.72 -3.02
Operating Cash Flow Less CapEx to Interest Expense		 -7.66 -3.07 -13.78 -3.21 -4.80 -6.10 -3.05
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.55 0.55 0.55 0.45 0.51 0.73 0.96
Accounts Receivable Turnover		 4.64 4.42 5.75 8.76 7.70 8.76 10.03
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 11.58 17.20 14.82 7.62 2.91 2.56 3.36
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 78.67 82.51 63.48 41.65 47.38 41.66 36.37
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 78.67 82.51 63.48 41.65 47.38 41.66 36.37
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 -0.50 6.81 15 13 35 31 26
Invested Capital Turnover		 -49.60 14.44 5.05 2.76 2.03 2.15 3.10
Increase / (Decrease) in Invested Capital		 0.00 7.30 7.99 -1.88 23 -4.37 -5.06
Enterprise Value (EV)		 297 501 138 84 197 233 83
Market Capitalization		 72 535 143 92 166 223 54
Book Value per Share		 ($930.33) $1.55 $0.73 $0.49 $0.05 $0.14 ($0.31)
Tangible Book Value per Share		 ($1,054.80) $0.49 ($0.26) ($0.10) ($0.20) $0.00 ($2.69)
Total Capital		 4.79 69 48 56 62 57 45
Total Debt		 36 28 28 35 57 36 47
Total Long-Term Debt		 24 16 9.99 25 35 36 47
Net Debt		 31 -34 -4.94 -7.69 31 10 28
Capital Expenditures (CapEx)		 1.31 1.95 2.24 3.30 23 3.23 0.26
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3.03 3.73 -0.28 -2.20 1.89 -1.06 -3.90
Debt-free Net Working Capital (DFNWC)		 2.26 66 32 41 28 25 15
Net Working Capital (NWC)		 -9.90 54 15 30 6.27 25 15
Net Nonoperating Expense (NNE)		 12 15 15 30 23 19 16
Net Nonoperating Obligations (NNO)		 31 -34 -4.94 -7.69 31 10 28
Total Depreciation and Amortization (D&A)		 3.20 8.71 5.88 11 8.44 8.24 6.97
Debt-free, Cash-free Net Working Capital to Revenue		 -12.33% 8.19% -0.51% -5.77% 3.85% -1.48% -4.41%
Debt-free Net Working Capital to Revenue		 9.20% 144.56% 59.51% 107.00% 57.40% 35.32% 17.05%
Net Working Capital to Revenue		 -40.32% 118.57% 26.88% 79.80% 12.77% 35.29% 17.04%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($6.48) ($1.58) ($1.55) ($0.64) ($6.60) ($4.67)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 26.58M 31.31M 42.10M 82.11M 6.48M 7.55M
Adjusted Diluted Earnings per Share		 $0.00 ($6.48) ($1.58) ($1.55) ($0.64) ($6.60) ($4.67)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 26.58M 31.31M 42.10M 82.11M 6.48M 7.55M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($6.48) ($1.58) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 4.84M 27.37M 77.97M 96.94M 7.30M 9.86M
Normalized Net Operating Profit after Tax (NOPAT)		 -19 -16 -29 -35 -29 -24 -19
Normalized NOPAT Margin		 -76.24% -35.24% -52.58% -92.52% -58.89% -33.62% -21.96%
Pre Tax Income Margin		 -125.15% -68.81% -79.15% -171.27% -106.23% -60.19% -39.85%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 -9.23 -3.12 -18.52 -3.35 -4.47 -4.05 -3.57
NOPAT to Interest Expense		 -6.22 -2.11 -12.97 -2.35 -3.03 -2.84 -2.53
EBIT Less CapEx to Interest Expense		 -9.67 -3.38 -19.53 -3.57 -6.87 -4.43 -3.60
NOPAT Less CapEx to Interest Expense		 -6.66 -2.37 -13.98 -2.57 -5.44 -3.22 -2.56
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -26.29% -1.54% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Biodesix

This table displays calculated financial ratios and metrics derived from Biodesix's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 78,614,114.00 90,476,295.00 96,942,061.00 114,685,783.00 145,177,125.00 145,467,295.00 145,978,410.00 146,563,031.00 146,633,352.00 7,955,685.00 9,858,358.00
DEI Adjusted Shares Outstanding		 3,930,706.00 4,523,815.00 4,847,103.00 5,734,289.00 7,258,856.00 7,273,365.00 7,298,921.00 7,328,152.00 7,331,668.00 7,955,685.00 9,858,358.00
DEI Earnings Per Adjusted Shares Outstanding		 -2.79 -2.02 -2.81 -1.88 -1.41 -1.13 -1.52 -1.56 -1.19 -0.50 -0.79
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 21.46% 52.68% 63.63% 50.99% 34.54% 39.28% 21.19% 11.68% 19.93% 40.76% 42.30%
EBITDA Growth		 0.66% 46.26% 36.34% 24.21% -9.48% 26.13% 10.19% -26.03% 26.18% 95.83% 46.68%
EBIT Growth		 19.26% 50.71% 32.44% 21.07% 4.06% 3.58% 14.56% -10.97% 19.17% 70.73% 38.23%
NOPAT Growth		 32.40% 50.54% 32.69% 24.62% -19.79% 3.22% 17.10% -17.99% 17.93% 70.42% 32.13%
Net Income Growth		 20.07% 55.06% 27.21% 19.08% 6.31% 9.72% 18.46% -6.11% 15.03% 51.76% 29.80%
EPS Growth		 58.82% 70.97% 41.67% 52.94% 6.31% 9.72% 18.46% 0.00% 17.14% 58.59% 46.71%
Operating Cash Flow Growth		 62.85% -2.80% -99.21% -2,081.96% -178.04% 66.65% 43.82% 64.63% 16.79% 118.99% -18.21%
Free Cash Flow Firm Growth		 -834.81% -248.37% -253.92% -168.56% 44.42% 98.96% 104.07% 106.43% 92.69% 1,391.31% -453.34%
Invested Capital Growth		 0.00% 174.39% 134.30% 140.28% 41.58% -12.33% -20.10% -23.84% -11.65% -16.29% -0.39%
Revenue Q/Q Growth		 13.64% 8.72% 1.02% 20.97% 1.26% 12.55% -12.10% 11.47% 8.74% 32.10% -11.13%
EBITDA Q/Q Growth		 25.74% -7.53% -30.86% 27.47% -7.27% 27.45% -59.10% -1.79% 37.17% 95.90% -1,933.83%
EBIT Q/Q Growth		 21.61% 20.53% -61.91% 21.75% 4.72% 20.13% -43.47% -1.64% 30.60% 71.08% -202.76%
NOPAT Q/Q Growth		 34.36% 4.21% -60.42% 25.26% -4.30% 22.61% -37.40% -6.38% 27.45% 72.10% -215.25%
Net Income Q/Q Growth		 18.02% 16.53% -48.97% 20.61% 5.09% 19.57% -34.54% -3.31% 24.00% 54.34% -95.80%
EPS Q/Q Growth		 17.65% 35.71% -55.56% 42.86% 5.09% 19.57% -34.54% 0.00% -1,350.00% 54.31% -52.83%
Operating Cash Flow Q/Q Growth		 -509.61% -220.04% -24.65% -21.29% 42.54% 61.62% -110.01% 23.65% -35.19% 108.76% -1,406.94%
Free Cash Flow Firm Q/Q Growth		 -182.87% 2.55% -7.44% 9.32% 41.46% 98.17% 518.79% 43.26% -166.58% 423.25% -214.59%
Invested Capital Q/Q Growth		 54.84% 53.91% 6.57% -5.39% -8.76% -4.70% -2.87% -9.81% 5.84% -9.71% 15.58%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -44.97% -44.48% -57.61% -34.54% -36.59% -23.59% -42.69% -38.98% -22.52% -0.70% -16.00%
Operating Margin		 -53.16% -46.84% -74.38% -45.95% -47.33% -32.55% -50.87% -48.55% -32.39% -6.84% -24.27%
EBIT Margin		 -63.49% -46.41% -74.38% -48.11% -45.27% -32.13% -52.43% -47.81% -30.51% -6.68% -22.76%
Profit (Net Income) Margin		 -81.16% -62.31% -91.87% -60.30% -56.51% -40.39% -61.82% -57.29% -40.04% -13.84% -30.50%
Tax Burden Percent		 99.98% 100.03% 100.47% 100.00% 100.00% 99.23% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 127.86% 134.21% 122.95% 125.32% 124.84% 126.70% 117.90% 119.83% 131.23% 207.18% 133.99%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -142.34% -66.58% -106.01% -77.45% -78.12% -48.88% -78.08% -82.69% -59.23% -14.85% -54.21%
ROIC Less NNEP Spread (ROIC-NNEP)		 -190.80% -103.98% -127.53% -124.74% -107.19% -66.41% -93.17% -119.23% -80.67% -28.32% -71.46%
Return on Net Nonoperating Assets (RNNOA)		 3,228.37% -95.60% 7,344.53% -90.88% -118.51% -107.05% -1,045.48% -81.40% -108.82% -59.46% -141.66%
Return on Equity (ROE)		 3,086.03% -162.18% 7,238.52% -168.33% -196.63% -155.92% -1,123.55% -164.09% -168.04% -74.31% -195.87%
Cash Return on Invested Capital (CROIC)		 -494.12% -212.89% -173.88% -174.60% -121.83% -59.50% -44.87% -48.79% -61.88% -50.65% -57.58%
Operating Return on Assets (OROA)		 -64.41% -23.73% -48.57% -30.29% -31.32% -23.34% -45.02% -35.96% -25.55% -6.40% -24.18%
Return on Assets (ROA)		 -82.34% -31.86% -59.99% -37.96% -39.10% -29.34% -53.08% -43.09% -33.53% -13.26% -32.40%
Return on Common Equity (ROCE)		 3,086.03% -162.18% 7,238.52% -168.33% -196.63% -155.92% -1,123.55% -164.09% -168.04% -74.31% -195.87%
Return on Equity Simple (ROE_SIMPLE)		 4,380.71% 0.00% 855.29% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -5.02 -4.81 -7.71 -5.77 -6.01 -4.65 -6.40 -6.80 -4.94 -1.38 -4.34
NOPAT Margin		 -37.21% -32.79% -52.06% -32.17% -33.13% -22.78% -35.61% -33.99% -22.67% -4.79% -16.99%
Net Nonoperating Expense Percent (NNEP)		 48.46% 37.40% 21.52% 47.29% 29.07% 17.53% 15.09% 36.54% 21.45% 13.47% 17.25%
Return On Investment Capital (ROIC_SIMPLE)		 - -7.79% -15.66% -7.40% -9.40% -8.12% -13.39% -14.19% -10.87% -3.06% -7.80%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 114.86% 110.79% 138.72% 109.68% 110.27% 98.97% 113.87% 111.95% 99.75% 79.89% 94.94%
R&D to Revenue		 14.37% 12.88% 13.77% 14.27% 14.03% 11.82% 15.98% 16.33% 13.74% 9.98% 12.85%
Operating Expenses to Revenue		 153.16% 146.84% 174.38% 145.95% 147.33% 132.55% 150.87% 148.55% 132.39% 106.84% 124.27%
Earnings before Interest and Taxes (EBIT)		 -8.57 -6.81 -11 -8.62 -8.22 -6.56 -9.42 -9.57 -6.64 -1.92 -5.82
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -6.07 -6.52 -8.54 -6.19 -6.64 -4.82 -7.67 -7.80 -4.90 -0.20 -4.09
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 36.35 0.00 4.84 9.28 10.66 8.25 36.34 0.00 0.00 15.65
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 12.23 40.45 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.95 3.39 2.53 2.88 3.94 3.12 1.23 0.54 0.69 0.61 1.49
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 6.70 5.57 4.82 4.90 8.07 7.49 3.66 2.48 2.98 3.18 5.45
Enterprise Value to Revenue (EV/Rev)		 3.50 4.02 3.32 2.87 4.01 3.26 1.48 0.88 1.07 0.93 1.71
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -30.64 12.47 -9.95 1.15 1.30 1.75 3.32 41.12 -27.36 -19.25 5.09
Long-Term Debt to Equity		 -17.25 7.69 -6.45 0.99 1.30 1.74 3.32 41.11 -27.36 -19.25 5.09
Financial Leverage		 -16.92 0.92 -57.59 0.73 1.11 1.61 11.22 0.68 1.35 2.10 1.98
Leverage Ratio		 -60.02 7.62 -176.46 6.61 7.18 7.71 31.21 5.44 7.33 10.03 8.96
Compound Leverage Factor		 -76.74 10.23 -216.96 8.28 8.96 9.77 36.79 6.52 9.61 20.79 12.00
Debt to Total Capital		 103.37% 92.58% 111.17% 53.48% 56.47% 63.57% 76.85% 97.63% 103.79% 105.48% 83.58%
Short-Term Debt to Total Capital		 45.16% 35.50% 39.07% 7.54% 0.05% 0.04% 0.04% 0.03% 0.02% 0.01% 0.00%
Long-Term Debt to Total Capital		 58.21% 57.08% 72.11% 45.94% 56.43% 63.53% 76.81% 97.59% 103.77% 105.47% 83.58%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -3.37% 7.42% -11.17% 46.52% 43.53% 36.43% 23.15% 2.37% -3.79% -5.48% 16.42%
Debt to EBITDA		 -1.11 -1.67 -1.87 -1.53 -1.30 -1.39 -1.45 -1.74 -1.87 -2.31 -2.74
Net Debt to EBITDA		 -0.61 -0.90 -1.48 0.02 -0.17 -0.39 -0.75 -0.97 -1.21 -1.38 -1.23
Long-Term Debt to EBITDA		 -0.63 -1.03 -1.21 -1.31 -1.29 -1.39 -1.45 -1.74 -1.87 -2.31 -2.74
Debt to NOPAT		 -1.31 -1.97 -2.17 -1.79 -1.49 -1.51 -1.61 -1.96 -2.07 -2.43 -2.66
Net Debt to NOPAT		 -0.72 -1.07 -1.72 0.02 -0.19 -0.42 -0.84 -1.09 -1.34 -1.46 -1.20
Long-Term Debt to NOPAT		 -0.74 -1.22 -1.41 -1.54 -1.49 -1.51 -1.61 -1.96 -2.07 -2.43 -2.66
Altman Z-Score		 -5.61 -4.53 -5.88 -3.35 -3.38 -4.09 -6.23 -6.70 -6.56 -6.46 -5.33
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.88 1.19 0.91 3.28 3.40 2.76 2.22 2.14 1.84 1.87 2.82
Quick Ratio		 0.78 1.02 0.68 2.98 3.04 2.43 1.90 1.86 1.61 1.61 2.42
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -28 -27 -29 -27 -16 -0.29 1.19 1.71 -1.14 3.68 -4.22
Operating Cash Flow to CapEx		 -65.70% -411.63% -6,543.16% -964.23% -4,619.48% -488.20% -11,624.32% -12,878.43% -18,497.92% 904.65% -12,553.09%
Free Cash Flow to Firm to Interest Expense		 -11.75 -11.73 -11.61 -12.19 -7.64 -0.16 0.71 0.90 -0.55 1.79 -2.14
Operating Cash Flow to Interest Expense		 -1.61 -5.27 -6.05 -8.50 -5.23 -2.34 -5.11 -3.46 -4.28 0.38 -5.14
Operating Cash Flow Less CapEx to Interest Expense		 -4.06 -6.56 -6.15 -9.39 -5.34 -2.82 -5.15 -3.49 -4.30 0.34 -5.18
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.01 0.51 0.65 0.63 0.69 0.73 0.86 0.75 0.84 0.96 1.06
Accounts Receivable Turnover		 0.00 7.70 7.42 8.55 9.49 8.76 8.49 8.71 7.74 10.03 11.21
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 2.91 2.63 2.59 2.42 2.56 2.68 2.83 2.96 3.36 3.76
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 47.38 49.22 42.69 38.45 41.66 42.97 41.91 47.14 36.37 32.55
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 47.38 49.22 42.69 38.45 41.66 42.97 41.91 47.14 36.37 32.55
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 23 35 38 36 33 31 30 27 29 26 30
Invested Capital Turnover		 3.83 2.03 2.04 2.41 2.36 2.15 2.19 2.43 2.61 3.10 3.19
Increase / (Decrease) in Invested Capital		 23 23 22 21 9.57 -4.37 -7.59 -8.52 -3.80 -5.06 -0.12
Enterprise Value (EV)		 154 197 182 175 263 233 110 67 86 83 164
Market Capitalization		 130 166 139 175 258 223 91 41 55 54 143
Book Value per Share		 ($0.02) $0.05 ($0.06) $0.32 $0.19 $0.14 $0.08 $0.01 ($0.01) ($0.31) $0.93
Tangible Book Value per Share		 ($0.32) ($0.20) ($0.29) $0.13 $0.04 $0.00 ($0.06) ($0.13) ($0.14) ($2.69) ($0.95)
Total Capital		 43 62 49 78 64 57 48 48 45 45 56
Total Debt		 44 57 55 42 36 36 37 47 47 47 46
Total Long-Term Debt		 25 35 36 36 36 36 37 47 47 47 46
Net Debt		 24 31 43 -0.54 4.74 10 19 26 31 28 21
Capital Expenditures (CapEx)		 5.84 2.98 0.23 1.93 0.23 0.84 0.07 0.05 0.05 0.09 0.08
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -4.25 1.89 5.00 3.68 -0.32 -1.06 -1.28 -3.43 -1.34 -3.90 0.85
Debt-free Net Working Capital (DFNWC)		 16 28 16 46 31 25 16 17 15 15 26
Net Working Capital (NWC)		 -3.76 6.27 -2.75 40 31 25 16 17 15 15 26
Net Nonoperating Expense (NNE)		 5.93 4.33 5.90 5.04 4.24 3.60 4.71 4.66 3.78 2.60 3.45
Net Nonoperating Obligations (NNO)		 24 31 43 -0.54 4.74 10 19 26 31 28 21
Total Depreciation and Amortization (D&A)		 2.50 0.28 2.48 2.43 1.58 1.74 1.75 1.77 1.74 1.72 1.73
Debt-free, Cash-free Net Working Capital to Revenue		 -9.65% 3.85% 9.11% 6.05% -0.49% -1.48% -1.72% -4.48% -1.68% -4.41% 0.89%
Debt-free Net Working Capital to Revenue		 35.42% 57.40% 30.06% 75.37% 47.41% 35.32% 21.92% 22.60% 19.03% 17.05% 27.50%
Net Working Capital to Revenue		 -8.55% 12.77% -5.02% 65.72% 47.37% 35.29% 21.90% 22.58% 19.02% 17.04% 27.50%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.14) ($0.09) ($0.14) ($0.08) ($1.40) ($25.60) ($1.60) ($0.08) ($1.16) ($0.53) ($0.81)
Adjusted Weighted Average Basic Shares Outstanding		 79.71M 82.11M 97.17M 127.17M 7.31M 323.50K 7.33M 146.66M 7.50M 7.55M 9.66M
Adjusted Diluted Earnings per Share		 ($0.14) ($0.09) ($0.14) ($0.08) ($1.40) ($25.60) ($1.60) ($0.08) ($1.16) ($0.53) ($0.81)
Adjusted Weighted Average Diluted Shares Outstanding		 79.71M 82.11M 97.17M 127.17M 7.31M 323.50K 7.33M 146.66M 7.50M 7.55M 9.66M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 ($25.60) $0.00 $0.00 $0.00 ($0.53) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 90.48M 96.94M 114.69M 145.18M 7.27M 7.30M 7.33M 146.63M 7.96M 9.86M 10.11M
Normalized Net Operating Profit after Tax (NOPAT)		 -5.02 -4.79 -7.67 -5.72 -6.01 -4.58 -6.34 -6.79 -4.93 -1.38 -4.34
Normalized NOPAT Margin		 -37.21% -32.67% -51.74% -31.91% -33.13% -22.43% -35.33% -33.90% -22.65% -4.79% -16.97%
Pre Tax Income Margin		 -81.17% -62.29% -91.44% -60.30% -56.51% -40.70% -61.82% -57.29% -40.04% -13.84% -30.50%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -3.59 -2.92 -4.36 -3.95 -4.03 -3.75 -5.59 -5.04 -3.20 -0.93 -2.94
NOPAT to Interest Expense		 -2.10 -2.06 -3.05 -2.64 -2.95 -2.66 -3.80 -3.58 -2.38 -0.67 -2.20
EBIT Less CapEx to Interest Expense		 -6.04 -4.20 -4.45 -4.83 -4.14 -4.22 -5.63 -5.07 -3.23 -0.97 -2.98
NOPAT Less CapEx to Interest Expense		 -4.55 -3.35 -3.14 -3.52 -3.06 -3.14 -3.84 -3.61 -2.40 -0.71 -2.24
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Biodesix (NASDAQ: BDSX) showed some improvement in revenue and liquidity in Q1 2026, but the overall picture remains mixed: the company is still unprofitable, carries meaningful debt, and continues to rely on external financing.

  • Q1 2026 revenue rose to $25.6 million, up from $20.0 million in Q2 2025 and $18.0 million in Q1 2025, showing solid top-line growth over the past year.
  • Cash and equivalents increased to $25.6 million at March 31, 2026, compared with $16.6 million at the end of Q3 2025 and $17.6 million a year earlier.
  • The company generated $17.6 million of common equity issuance in Q1 2026, which helped offset operating losses and strengthen cash on hand.
  • Net cash from financing activities was $16.9 million in Q1 2026, providing an important cushion against operating cash burn.
  • Short-term debt was very small at just $2,000 in Q1 2026, so near-term borrowings are not a major issue.
  • Deferred revenue was $223,000 in Q1 2026, which is modest but does indicate some advance customer payments.
  • The balance sheet still carries substantial intangible assets and goodwill, including $15.0 million of goodwill and $3.5 million of intangibles in Q1 2026.
  • Operating expenses remain large relative to revenue, with SG&A of $24.3 million and R&D of $3.3 million in Q1 2026.
  • Biodesix posted a net loss of $7.8 million in Q1 2026, continuing a long streak of quarterly losses.
  • Operating cash flow was negative $10.2 million in Q1 2026, meaning the core business is still burning cash.
  • Total liabilities stood at $85.5 million versus only $9.1 million in equity, leaving the capital structure highly leveraged.
  • Long-term debt remained elevated at $46.5 million in Q1 2026, and interest expense was still $2.0 million for the quarter.
  • Retained earnings were deeply negative at $(505.6) million, underscoring the company’s cumulative history of losses.
  • Share count dilution remains a concern, as the company raised equity in multiple quarters and basic shares outstanding have increased over time.

Looking at the longer trend, Biodesix has been growing revenue from the mid-teens millions per quarter in 2024 to the mid-$20 millions in early 2026, which is encouraging. However, expenses have also remained high, so the company has not yet translated that growth into profitability. The good news is that liquidity improved in the latest quarter; the bad news is that it came with continued reliance on share issuance and ongoing losses.

For retail investors, the key question is whether revenue growth can eventually outpace operating expenses enough to reduce cash burn. Until that happens, Biodesix appears to be a high-risk turnaround story rather than a fundamentals-backed value play.

07/21/26 12:35 PM ETAI Generated. May Contain Errors.

Biodesix Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Biodesix's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Biodesix's net income appears to be on an upward trend, with a most recent value of -$35.27 million in 2025, rising from -$30.73 million in 2019. The previous period was -$42.93 million in 2024. Check out Biodesix's forecast to explore projected trends and price targets.

Biodesix's total operating income in 2025 was -$27.87 million, based on the following breakdown:
  • Total Gross Profit: $88.50 million
  • Total Operating Expenses: $116.37 million

Over the last 6 years, Biodesix's total revenue changed from $24.55 million in 2019 to $88.50 million in 2025, a change of 260.5%.

Biodesix's total liabilities were at $89.94 million at the end of 2025, a 17.8% increase from 2024, and a 18.0% increase since 2019.

In the past 6 years, Biodesix's cash and equivalents has ranged from $5.29 million in 2019 to $62.13 million in 2020, and is currently $18.99 million as of their latest financial filing in 2025.

Over the last 6 years, Biodesix's book value per share changed from -930.33 in 2019 to -0.31 in 2025, a change of -100.0%.


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Financial statements for NASDAQ:BDSX last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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