BDSX Nasdaq Services-Medical Laboratories Financials FY2019βFY2025
Biodesix Inc had $88.5M of revenue in fiscal 2025, up 24.1% on the year before. Over five years, revenue changed +14.2% a year on average.
Last close Β· Oct 23, 2026
$21.18
11.5%Hi! I read Biodesix Incβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+24.1%
Yes. Sales grew 24.1% last year.
Does it make a profit?
β39.8%
No. It lost money last year.
Does profit turn into cash?
β26.6%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Biodesix Inc had $88.5M of revenue in fiscal 2025, up 24.1% on the year before. Over five years, revenue changed +14.2% a year on average. Its operating margin was β31.5%, up 16.9Β pts: of every 100 in sales, about β31 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Biodesix Inc lost $35.3M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$23.5M in fiscal 2025, β26.6% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $3.1M and sold $0.1M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$3.1M
1 insider
Sold, 12 months
$0.1M
5 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | Jack W Schuler10% owner, Emeritus Director | Bought | 15,000 | $24.47 | $0.4M | Form 4 |
| Aug 11, 2026 | Jack W Schuler10% owner, Emeritus Director | Bought | 13,700 | $24.01 | $0.3M | Form 4 |
| Aug 10, 2026 | Jack W Schuler10% owner, Emeritus Director | Bought | 13,900 | $24.25 | $0.3M | Form 4 |
| Feb 23, 2026 | Scott HuttonPresident & CEO, Director | Sold | 1,490 | $12.78 | $0.0M | Form 4 |
| Feb 23, 2026 | Robin Harper CowieCFO, Sec'y & Treasurer | Sold | 535 | $12.78 | $0.0M | Form 4 |
| Feb 23, 2026 | Kieran O'KaneChief Commercial Officer | Sold | 535 | $12.78 | $0.0M | Form 4 |
| Feb 23, 2026 | Gary Anthony PestanoChief Development Officer | Sold | 556 | $12.78 | $0.0M | Form 4 |
| Feb 23, 2026 | Chris VazquezChief Accounting Officer | Sold | 211 | $12.78 | $0.0M | Form 4 |
| Feb 10, 2026 | Gary Anthony PestanoChief Development Officer | Sold | 540 | $10.08 | $0.0M | Form 4 |
| Feb 10, 2026 | Scott HuttonPresident & CEO, Director | Sold | 3,559 | $10.08 | $0.0M | Form 4 |
| Feb 10, 2026 | Robin Harper CowieCFO, Sec'y & Treasurer | Sold | 941 | $10.08 | $0.0M | Form 4 |
| Feb 10, 2026 | Chris VazquezChief Accounting Officer | Sold | 101 | $10.08 | $0.0M | Form 4 |
| Feb 10, 2026 | Kieran O'KaneChief Commercial Officer | Sold | 584 | $10.08 | $0.0M | Form 4 |
| Jan 26, 2026 | Jack W Schuler10% owner, Emeritus Director | Bought | 20,000 | $11.80 | $0.2M | Form 4 |
| Jan 23, 2026 | Jack W Schuler10% owner, Emeritus Director | Bought | 80,000 | $11.81 | $0.9M | Form 4 |
| Jan 22, 2026 | Jack W Schuler10% owner, Emeritus Director | Bought | 82,465 | $10.96 | $0.9M | Form 4 |
| Jan 16, 2026 | Kieran O'KaneChief Commercial Officer | Sold | 298 | $8.15 | $0.0M | Form 4 |
| Jan 16, 2026 | Robin Harper CowieCFO, Sec'y & Treasurer | Sold | 298 | $8.15 | $0.0M | Form 4 |
| Jan 16, 2026 | Chris VazquezChief Accounting Officer | Sold | 83 | $8.15 | $0.0M | Form 4 |
| Jan 16, 2026 | Scott HuttonPresident & CEO, Director | Sold | 970 | $8.15 | $0.0M | Form 4 |
| Jan 16, 2026 | Gary Anthony PestanoChief Development Officer | Sold | 298 | $8.15 | $0.0M | Form 4 |
| Nov 10, 2025 | Kieran O'KaneChief Commercial Officer | Sold | 25 | $7.62 | $0.0M | Form 4 |
| Nov 10, 2025 | Robin Harper CowieCFO, Sec'y & Treasurer | Sold | 50 | $7.62 | $0.0M | Form 4 |
| Nov 10, 2025 | Gary Anthony PestanoChief Development Officer | Sold | 23 | $7.62 | $0.0M | Form 4 |
| Nov 10, 2025 | Scott HuttonPresident & CEO, Director | Sold | 189 | $7.62 | $0.0M | Form 4 |
| Nov 10, 2025 | Chris VazquezChief Accounting Officer | Sold | 13 | $7.62 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Biodesix Inc owes $31.0M more than it holds in cash.
Cash, debt and the ratios that show how comfortably Biodesix Inc can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $32.7M | $43.1M | $26.3M | $26.2M | $19.0M |
| Debt incl. finance leases | $10.1M | $30.1M | $40.1M | $40.0M | $50.0M |
| Debt / equity | 0.5x | 1.5x | 8.8x | 1.9x | β |
| Interest coverage | β9.1x | β6.3x | β4.3x | β4.2x | β3.6x |
| Current ratio | 1.5x | 2.3x | 1.2x | 2.8x | 1.9x |
| Quick ratio | 1.5x | 2.3x | 1.2x | 2.8x | 1.9x |
| Total assets | $76.1M | $92.9M | $99.1M | $97.2M | $87.5M |
| Total liabilities | $56.4M | $72.3M | $94.5M | $76.4M | $89.9M |
| Shareholders' equity | $19.7M | $20.6M | $4.6M | $20.9M | β$2.5M |
| Net debt (β = net cash) | β$22.6M | β$13.0M | $13.8M | $13.8M | $31.0M |
KIRA Β· Its return on capital was β77.1%: every 100 invested in the business earned about β77 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Biodesix Inc passes 3 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 7 | 3 / 8 | 2 / 8 | 3 / 8 | 4 / 8 | 3 / 8 |
| Accruals ratio | β20.0% | β53.1% | β15.2% | β24.2% | β30.5% | 5.8% | β13.0% |
| Altman Z'' | β25.00 | β4.77 | β14.92 | β14.10 | β16.14 | β15.90 | β19.59 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $24.6M | $45.6M | $54.5M | $38.2M | $49.1M | $71.3M | $88.5M |
| Provision for credit losses | β | β | β | β | $0.5M | $0.9M | $0.2M |
| Research and development | $10.5M | $10.8M | $12.8M | $13.1M | $10.0M | $9.6M | $12.0M |
| Operating income | β$26.7M | β$22.9M | β$40.9M | β$50.6M | β$41.3M | β$34.5M | β$27.9M |
| Interest expense | $3.0M | $7.6M | $4.5M | $8.1M | $9.5M | $8.3M | $7.7M |
| Income tax | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$30.7M | β$65.4M | β$43.2M | β$65.4M | β$52.1M | β$42.9M | β$35.3M |
| Diluted EPS | β$126.97 | β$6.48 | β$1.58 | β$1.55 | β$0.64 | β$6.64 | β$4.67 |
| Diluted shares | 0.00B | 0.00B | 0.03B | 0.04B | 0.08B | 0.01B | 0.01B |
| Cash flow | |||||||
| Cash from operations | β$21.7M | β$21.4M | β$28.2M | β$45.0M | β$22.9M | β$48.6M | β$23.3M |
| Capital expenditure | $1.3M | $1.9M | $2.2M | $3.3M | $22.9M | $3.2M | $0.3M |
| Free cash flow | β$23.0M | β$23.3M | β$30.5M | β$48.3M | β$45.8M | β$51.9M | β$23.5M |
| Depreciation and amortization | $2.8M | $2.9M | $3.2M | $3.6M | $3.3M | $5.8M | $5.7M |
| Stock-based compensation | $0.2M | $3.7M | $4.9M | $6.0M | $5.4M | $6.6M | $4.1M |
| Balance sheet | |||||||
| Cash and short-term investments | $5.3M | $62.1M | $32.7M | $43.1M | $26.3M | $26.2M | $19.0M |
| Total debt | β | $28.1M | $10.1M | $30.1M | $40.1M | $40.0M | $50.0M |
| Current assets | $12.7M | $86.1M | $43.6M | $53.3M | $39.7M | $39.5M | $32.5M |
| Current liabilities | $22.6M | $32.1M | $29.0M | $22.8M | $33.4M | $14.3M | $17.4M |
| Property and equipment, net | $2.1M | $3.2M | $4.2M | $5.8M | $27.9M | $27.8M | $24.8M |
| Goodwill | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M |
| Intangible assets | $15.1M | $13.3M | $11.6M | $9.8M | $7.9M | $5.9M | $3.9M |
| Total assets | $45.0M | $121M | $76.1M | $92.9M | $99.1M | $97.2M | $87.5M |
| Total liabilities | $76.2M | $79.9M | $56.4M | $72.3M | $94.5M | $76.4M | $89.9M |
| Shareholders' equity | β$225M | $41.2M | $19.7M | $20.6M | $4.6M | $20.9M | β$2.5M |
| Margins | |||||||
| Operating margin | β108.9% | β50.3% | β75.1% | β132.4% | β84.2% | β48.4% | β31.5% |
| EBITDA margin | β97.5% | β44.0% | β69.3% | β123.0% | β77.4% | β40.3% | β25.1% |
| Net margin | β125.1% | β143.7% | β79.2% | β171.3% | β106.2% | β60.2% | β39.8% |
| FCF margin | β93.8% | β51.2% | β55.9% | β126.3% | β93.3% | β72.7% | β26.6% |
| Returns | |||||||
| Return on capital | β | β254.5% | β | β522.7% | β177.8% | β78.6% | β77.1% |
| Return on capital employed | β119.2% | β25.8% | β86.9% | β72.2% | β62.9% | β41.6% | β39.8% |
| Return on equity | β | β | β141.8% | β324.5% | β414.1% | β337.3% | β383.1% |
| Return on assets | β68.2% | β78.8% | β43.8% | β77.5% | β54.3% | β43.7% | β38.2% |
| Return on tangible equity | β | β508.3% | β | β | β | β | β |
| Growth | |||||||
| Revenue growth | β | 85.6% | 19.6% | β29.9% | 28.5% | 45.3% | 24.1% |
| Share count change | β | 1,899.2% | 465.6% | 53.9% | 95.0% | β92.1% | 16.7% |
| Financial health | |||||||
| Debt / equity | β | 0.7x | 0.5x | 1.5x | 8.8x | 1.9x | β |
| Interest coverage | β8.9x | β3.0x | β9.1x | β6.3x | β4.3x | β4.2x | β3.6x |
| Current ratio | 0.6x | 2.7x | 1.5x | 2.3x | 1.2x | 2.8x | 1.9x |
| Quick ratio | 0.6x | 2.7x | 1.5x | 2.3x | 1.2x | 2.8x | 1.9x |
| Capital allocation | |||||||
| Capex / revenue | 5.3% | 4.3% | 4.1% | 8.6% | 46.7% | 4.5% | 0.3% |
| Stock comp / revenue | 0.7% | 8.1% | 9.1% | 15.6% | 10.9% | 9.3% | 4.7% |
| Quality scores | |||||||
| Piotroski F-score | β | 3.0 | 3.0 | 2.0 | 3.0 | 4.0 | 3.0 |
| Altman Z'' | β25.0 | β4.8 | β14.9 | β14.1 | β16.1 | β15.9 | β19.6 |
| Accruals ratio | β20.0% | β53.1% | β15.2% | β24.2% | β30.5% | 5.8% | β13.0% |
Source: SEC EDGAR XBRL filings (CIK 0001439725). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
