What is BIODESIX INC's earnings per share (EPS)?

BIODESIX INC (BDSX) reported diluted earnings per share of $-4.67 for fiscal year 2025. This represents a 29.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

BIODESIX INC Financials

BDSX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows BIODESIX INC (BDSX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 27/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

BIODESIX INC has an operating margin of -31.5%, meaning the company retains $-32 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -48.4% the prior year.

Growth

BIODESIX INC's revenue surged 24.1% year-over-year to $88.5M, reflecting rapid business expansion. This strong growth earns a score of 73/100.

Liquidity

BIODESIX INC's current ratio of 1.86 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While BIODESIX INC generated -$23.3M in operating cash flow, capex of $259K consumed most of it, leaving -$23.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

3/9

BIODESIX INC passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.66x

For every $1 of reported earnings, BIODESIX INC generates $0.66 in operating cash flow (-$23.3M OCF vs -$35.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-3.6x

BIODESIX INC earns $-3.6 in operating income for every $1 of interest expense (-$27.9M vs $7.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$88.5M

YoY+24.1%

5Y CAGR+14.2%

BIODESIX INC generated $88.5M in revenue in fiscal year 2025. This represents an increase of 24.1% from the prior year.

EBITDA

-$22.2M

YoY+22.7%

BIODESIX INC's EBITDA was -$22.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 22.7% from the prior year.

Net Income

-$35.3M

YoY+17.9%

BIODESIX INC reported -$35.3M in net income in fiscal year 2025. This represents an increase of 17.9% from the prior year.

EPS (Diluted)

$-4.67

YoY+29.7%

BIODESIX INC earned $-4.67 per diluted share (EPS) in fiscal year 2025. This represents an increase of 29.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$23.5M

YoY+54.6%

BIODESIX INC generated -$23.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 54.6% from the prior year.

Cash & Debt

$19.0M

YoY-27.7%

5Y CAGR-21.1%

BIODESIX INC held $19.0M in cash against $50.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+13.5%

BIODESIX INC had 8M shares outstanding in fiscal year 2025. This represents an increase of 13.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-31.5%

YoY+16.9pp

5Y CAGR+18.8pp

BIODESIX INC's operating margin was -31.5% in fiscal year 2025, reflecting core business profitability. This is up 16.9 percentage points from the prior year.

Net Margin

-39.9%

YoY+20.3pp

5Y CAGR+103.8pp

BIODESIX INC's net profit margin was -39.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 20.3 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$12.0M

YoY+25.5%

5Y CAGR+2.1%

BIODESIX INC invested $12.0M in research and development in fiscal year 2025. This represents an increase of 25.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$259K

YoY-92.0%

5Y CAGR-33.2%

BIODESIX INC invested $259K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 92.0% from the prior year.

BDSX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$88.5M+24.1%	$71.3M+45.3%	$49.1M+28.5%	$38.2M-29.9%	$54.5M+19.6%	$45.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$12.0M+25.5%	$9.6M-4.3%	$10.0M-23.8%	$13.1M+2.4%	$12.8M+18.2%	$10.8M
SG&A Expenses	$87.5M+8.8%	$80.5M+19.4%	$67.4M+9.6%	$61.5M+21.7%	$50.5M+44.9%	$34.9M
Operating Income	-$27.9M+19.2%	-$34.5M+16.6%	-$41.3M+18.3%	-$50.6M-23.6%	-$40.9M-78.5%	-$22.9M
Interest Expense	$7.7M-6.6%	$8.3M-13.4%	$9.5M+18.1%	$8.1M+79.1%	$4.5M-40.7%	$7.6M
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$35.3M+17.9%	-$42.9M+17.7%	-$52.1M+20.3%	-$65.4M-51.6%	-$43.2M+34.1%	-$65.4M
EPS (Diluted)	$-4.67+29.7%	$-6.64	$-0.64+58.7%	$-1.55+1.9%	$-1.58	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$28.8M+32.1%	$21.8M+8.7%	$20.0M+11.5%	$18.0M-12.1%	$20.4M+12.6%	$18.2M+1.3%	$17.9M+21.0%	$14.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$2.9M-4.1%	$3.0M-8.5%	$3.3M+13.9%	$2.9M+18.9%	$2.4M-5.2%	$2.5M-0.4%	$2.6M+25.4%	$2.0M
SG&A Expenses	$23.0M+5.8%	$21.7M-3.1%	$22.4M+9.6%	$20.4M+1.1%	$20.2M+1.0%	$20.0M+1.8%	$19.7M-4.4%	$20.6M
Operating Income	-$2.0M+72.1%	-$7.1M+27.5%	-$9.7M-6.4%	-$9.1M-37.4%	-$6.6M+22.6%	-$8.6M-4.3%	-$8.2M+25.3%	-$11.0M
Interest Expense	$2.1M-0.7%	$2.1M+9.3%	$1.9M+12.6%	$1.7M-3.9%	$1.8M-14.1%	$2.0M+5.5%	$1.9M-23.5%	$2.5M
Income Tax	N/A	N/A	N/A	$0	N/A	N/A	N/A	$0
Net Income	-$4.0M+54.3%	-$8.7M+24.0%	-$11.5M-3.3%	-$11.1M-34.5%	-$8.3M+19.6%	-$10.3M+5.1%	-$10.8M+20.6%	-$13.6M
EPS (Diluted)	N/A	$-1.16	$-0.080.0%	$-0.08	N/A	$-1.40-1650.0%	$-0.08+42.9%	$-0.14

BDSX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$87.5M-10.0%	$97.2M-1.9%	$99.1M+6.7%	$92.9M+22.1%	$76.1M-37.1%	$121.1M
Current Assets	$32.5M-17.6%	$39.5M-0.5%	$39.7M-25.6%	$53.3M+22.3%	$43.6M-49.4%	$86.1M
Cash & Equivalents	$19.0M-27.7%	$26.2M-0.1%	$26.3M-39.0%	$43.1M+31.7%	$32.7M-47.3%	$62.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$9.0M+5.0%	$8.6M+12.0%	$7.7M+51.6%	$5.1M+38.5%	$3.7M-76.1%	$15.3M
Goodwill	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M
Total Liabilities	$89.9M+17.8%	$76.4M-19.2%	$94.5M+30.7%	$72.3M+28.3%	$56.4M-29.5%	$79.9M
Current Liabilities	$17.4M+21.8%	$14.3M-57.2%	$33.4M+46.3%	$22.8M-21.1%	$29.0M-9.9%	$32.1M
Long-Term Debt	$50.0M+24.9%	$40.0M-0.1%	$40.1M+33.0%	$30.1M+199.0%	$10.1M-64.1%	$28.1M
Total Equity	-$2.5M-111.8%	$20.9M+355.8%	$4.6M-77.8%	$20.6M+4.5%	$19.7M-52.1%	$41.2M
Retained Earnings	-$497.8M-7.6%	-$462.5M-10.2%	-$419.6M-14.2%	-$367.4M-21.7%	-$302.0M-16.7%	-$258.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$87.5M-1.4%	$88.7M+1.1%	$87.7M+1.7%	$86.2M-11.3%	$97.2M-5.4%	$102.7M-11.3%	$115.8M+32.8%	$87.2M
Current Assets	$32.5M-2.6%	$33.4M+2.9%	$32.4M+9.5%	$29.6M-25.0%	$39.5M-10.3%	$44.0M-23.6%	$57.6M+102.2%	$28.5M
Cash & Equivalents	$19.0M+14.4%	$16.6M-19.9%	$20.7M+17.8%	$17.6M-32.9%	$26.2M-16.4%	$31.4M-25.6%	$42.2M+267.4%	$11.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$9.0M-28.7%	$12.7M+70.1%	$7.5M-2.5%	$7.6M-11.2%	$8.6M+7.1%	$8.0M-20.7%	$10.1M+2.4%	$9.9M
Goodwill	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M0.0%	$15.0M
Total Liabilities	$89.9M-0.6%	$90.4M+4.4%	$86.6M+15.2%	$75.2M-1.6%	$76.4M+2.0%	$74.9M-5.9%	$79.6M-14.2%	$92.7M
Current Liabilities	$17.4M-3.9%	$18.2M+19.7%	$15.2M+13.8%	$13.3M-7.0%	$14.3M+10.4%	$13.0M-26.1%	$17.6M-43.8%	$31.2M
Long-Term Debt	$50.0M0.0%	$50.0M0.0%	$50.0M+25.0%	$40.0M0.0%	$40.0M0.0%	$40.0M0.0%	$40.1M0.0%	$40.1M
Total Equity	-$2.5M-43.1%	-$1.7M-251.3%	$1.1M-89.7%	$11.1M-47.0%	$20.9M-25.1%	$27.9M-23.2%	$36.3M+759.0%	-$5.5M
Retained Earnings	-$497.8M-0.8%	-$493.8M-1.8%	-$485.1M-2.4%	-$473.6M-2.4%	-$462.5M-1.8%	-$454.2M-2.3%	-$444.0M-2.5%	-$433.2M

BDSX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$23.3M+52.2%	-$48.6M-112.7%	-$22.9M+49.1%	-$45.0M-59.3%	-$28.2M-32.1%	-$21.4M
Capital Expenditures	$259K-92.0%	$3.2M-85.9%	$22.9M+594.9%	$3.3M+47.2%	$2.2M+15.2%	$1.9M
Free Cash Flow	-$23.5M+54.6%	-$51.9M-13.3%	-$45.8M+5.1%	-$48.3M-58.4%	-$30.5M-30.7%	-$23.3M
Investing Cash Flow	-$403K+88.3%	-$3.4M+85.1%	-$23.1M-552.6%	-$3.5M-38.8%	-$2.5M+13.0%	-$2.9M
Financing Cash Flow	$16.4M-68.5%	$52.0M+78.7%	$29.1M-50.5%	$58.9M+4565.8%	$1.3M-98.4%	$81.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$778K+108.8%	-$8.9M-35.2%	-$6.6M+23.6%	-$8.6M-110.0%	-$4.1M+61.6%	-$10.7M+42.5%	-$18.6M-21.3%	-$15.3M
Capital Expenditures	$86K+79.2%	$48K-5.9%	$51K-31.1%	$74K-91.2%	$839K+263.2%	$231K-88.0%	$1.9M+723.1%	$234K
Free Cash Flow	$692K+107.8%	-$8.9M-34.9%	-$6.6M+23.7%	-$8.7M-75.8%	-$4.9M+54.7%	-$10.9M+46.8%	-$20.5M-31.9%	-$15.5M
Investing Cash Flow	-$104K-55.2%	-$67K+29.5%	-$95K+30.7%	-$137K+84.5%	-$884K-209.1%	-$286K+85.7%	-$2.0M-631.5%	-$273K
Financing Cash Flow	$1.7M-64.6%	$4.8M-50.7%	$9.8M+9991.8%	$97K+153.6%	-$181K-225.7%	$144K-99.7%	$51.3M+6385.0%	$791K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BDSX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-31.5%+16.9pp	-48.4%+35.8pp	-84.2%+48.2pp	-132.4%-57.3pp	-75.1%-24.8pp	-50.3%
Net Margin	-39.9%+20.3pp	-60.2%+46.0pp	-106.2%+65.0pp	-171.3%-92.1pp	-79.2%+64.5pp	-143.7%
Return on Equity	N/A	-205.7%+932.9pp	-1138.6%-821.0pp	-317.6%-98.8pp	-218.8%-59.8pp	-159.0%
Return on Assets	-40.3%+3.8pp	-44.1%+8.5pp	-52.6%+17.8pp	-70.4%-13.7pp	-56.7%-2.7pp	-54.1%
Current Ratio	1.86-0.9	2.76+1.6	1.19-1.1	2.34+0.8	1.51-1.2	2.68
Debt-to-Equity	-20.29-22.2	1.92-6.8	8.75+7.3	1.46+1.0	0.51-0.2	0.68
FCF Margin	-26.6%+46.2pp	-72.7%+20.5pp	-93.3%+33.0pp	-126.3%-70.4pp	-55.9%-4.7pp	-51.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-6.8%+25.6pp	-32.4%+16.2pp	-48.5%+2.3pp	-50.9%-18.3pp	-32.6%+14.8pp	-47.3%-1.4pp	-46.0%+28.4pp	-74.4%
Net Margin	-13.8%+26.2pp	-40.0%+17.3pp	-57.3%+4.5pp	-61.8%-21.4pp	-40.4%+16.1pp	-56.5%+3.8pp	-60.3%+31.6pp	-91.9%
Return on Equity	N/A	N/A	-1007.7%-907.4pp	-100.4%-60.9pp	-39.5%-2.7pp	-36.8%-7.0pp	-29.8%	N/A
Return on Assets	-4.5%+5.3pp	-9.8%+3.3pp	-13.1%-0.2pp	-12.9%-4.4pp	-8.5%+1.5pp	-10.0%-0.7pp	-9.3%+6.3pp	-15.6%
Current Ratio	1.86+0.0	1.84-0.3	2.14-0.1	2.22-0.5	2.76-0.6	3.40+0.1	3.28+2.4	0.91
Debt-to-Equity	-20.29+8.8	-29.04-73.0	43.95+40.3	3.62+1.7	1.92+0.5	1.44+0.3	1.10+8.4	-7.28
FCF Margin	2.4%+43.4pp	-41.0%-7.9pp	-33.1%+15.2pp	-48.3%-24.1pp	-24.2%+35.9pp	-60.1%+54.3pp	-114.3%-9.4pp	-104.9%

Note: Shareholder equity is negative (-$2.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is BIODESIX INC's annual revenue?

BIODESIX INC (BDSX) reported $88.5M in total revenue for fiscal year 2025. This represents a 24.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BIODESIX INC's revenue growing?

BIODESIX INC (BDSX) revenue grew by 24.1% year-over-year, from $71.3M to $88.5M in fiscal year 2025.

Is BIODESIX INC profitable?

No, BIODESIX INC (BDSX) reported a net income of -$35.3M in fiscal year 2025, with a net profit margin of -39.9%.

What is BIODESIX INC's EBITDA?

BIODESIX INC (BDSX) had EBITDA of -$22.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does BIODESIX INC have?

As of fiscal year 2025, BIODESIX INC (BDSX) had $19.0M in cash and equivalents against $50.0M in long-term debt.

What is BIODESIX INC's operating margin?

BIODESIX INC (BDSX) had an operating margin of -31.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is BIODESIX INC's net profit margin?

BIODESIX INC (BDSX) had a net profit margin of -39.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is BIODESIX INC's free cash flow?

BIODESIX INC (BDSX) generated -$23.5M in free cash flow during fiscal year 2025. This represents a 54.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is BIODESIX INC's operating cash flow?

BIODESIX INC (BDSX) generated -$23.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are BIODESIX INC's total assets?

BIODESIX INC (BDSX) had $87.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are BIODESIX INC's capital expenditures?

BIODESIX INC (BDSX) invested $259K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does BIODESIX INC spend on research and development?

BIODESIX INC (BDSX) invested $12.0M in research and development during fiscal year 2025.

How many shares does BIODESIX INC have outstanding?

BIODESIX INC (BDSX) had 8M shares outstanding as of fiscal year 2025.

What is BIODESIX INC's current ratio?

BIODESIX INC (BDSX) had a current ratio of 1.86 as of fiscal year 2025, which is generally considered healthy.

What is BIODESIX INC's debt-to-equity ratio?

BIODESIX INC (BDSX) had a debt-to-equity ratio of -20.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is BIODESIX INC's return on assets (ROA)?

BIODESIX INC (BDSX) had a return on assets of -40.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is BIODESIX INC's cash runway?

Based on fiscal year 2025 data, BIODESIX INC (BDSX) had $19.0M in cash against an annual operating cash burn of $23.3M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is BIODESIX INC's debt-to-equity ratio negative or unusual?

BIODESIX INC (BDSX) has negative shareholder equity of -$2.5M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is BIODESIX INC's Piotroski F-Score?

BIODESIX INC (BDSX) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are BIODESIX INC's earnings high quality?

BIODESIX INC (BDSX) has an earnings quality ratio of 0.66x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can BIODESIX INC cover its interest payments?

BIODESIX INC (BDSX) has an interest coverage ratio of -3.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is BIODESIX INC?

BIODESIX INC (BDSX) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.