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Biodesix
Biodesix (BDSX) investor relations material
Biodesix Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary3 Nov, 2025
Executive summary
Q3 2025 revenue reached $21.8 million, up 20% year-over-year, with gross margin improving by 400 basis points to 81%.
Net loss for Q3 2025 was $8.7 million, a 15% improvement year-over-year; Adjusted EBITDA loss improved 18%.
Strategic expansion into primary care and development services contributed to results, with significant test adoption and volume growth.
Presented new clinical data supporting product utility and pipeline potential.
Cash and cash equivalents stood at $16.6 million as of September 30, 2025.
Financial highlights
Lung diagnostic testing revenue was $19.8 million, up 16% year-over-year from 15,700 tests; development services revenue surged 97% to $1.9 million.
Gross margin improved to 81%, up from 77% in Q3 2024.
Operating expenses (excluding direct costs) rose 10% to $24.7 million, mainly due to sales and marketing expansion.
Net loss per share for Q3 2025 was $1.16, compared to $1.40 in Q3 2024.
Cash used in operations for the nine months ended September 30, 2025 was $24.0 million, improved from $44.6 million in the prior year period.
Outlook and guidance
FY2025 total revenue guidance raised to $84–86 million, reflecting strong Q3 close and early Q4 momentum.
Management expects Adjusted EBITDA positivity in Q4 2025, driven by gross margin strength and sales team productivity.
Continued revenue growth expected from diagnostic testing and development services, supported by expanded payer coverage and new customer agreements.
Ongoing investments in R&D and sales force expansion are anticipated to drive future growth.
What specific metrics track PCP impact beyond orders?
How will new partnerships accelerate pipeline value?
What drives confidence in cash flow breakeven?
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Next Biodesix earnings date
Q4 20254 Mar, 2026
Biodesix
Next Biodesix earnings date
Q4 20254 Mar, 2026
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Frequently asked questions
Biodesix Inc. is a diagnostic company specializing in blood-based tests for lung diseases, including cancer and other respiratory conditions. The company utilizes multiple technologies such as genomics and proteomics to develop diagnostic and monitoring solutions. Its offerings are intended for use in clinical decision support. The company is headquartered in Boulder, Colorado, and its shares are listed on the NASDAQ.
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