Biodesix Announces Preliminary Fourth Quarter and Full-Year 2025 Results (Unaudited)
Rhea-AI Summary
Biodesix (Nasdaq: BDSX) reported preliminary, unaudited results for Q4 and full-year 2025. Estimated Q4 revenue $28.8M (+41% YoY) and FY2025 revenue $88.5M (+24% YoY), above prior guidance range of $84–$86M. Lung Diagnostics revenue estimated at $25.2M (Q4) and $79.2M (FY), driven by higher test volumes, price per test, and ~$1.0M in collections on claims >1 year. Test volumes were an estimated 18,000 (Q4) and 62,600 (FY). Development Services revenue was estimated at $3.6M (Q4) and $9.3M (FY). Cash and cash equivalents were ~$19.0M at 12/31/2025, including $2.3M of at-the-market proceeds. The company affirmed its expectation of positive Adjusted EBITDA in Q4 2025. Results remain preliminary and subject to audit.
Positive
- Q4 revenue estimated at $28.8M (+41% year-over-year)
- Full-year 2025 revenue estimated at $88.5M, above prior guidance top end
- Lung Diagnostics revenue estimated at $79.2M for FY2025 (+22% year-over-year)
- Test volumes of 62,600 in FY2025 (+15% year-over-year)
- Affirmed expectation of positive Adjusted EBITDA in Q4 2025
- Cash and cash equivalents of $19.0M as of December 31, 2025
Negative
- Cash balance of $19.0M remains modest for growth and operations
- Included $2.3M of at-the-market proceeds in cash, indicating equity issuance
- Approximately $1.0M of Lung Diagnostics collections were from claims older than one year (potentially non-recurring)
- Results are preliminary and unaudited, subject to final adjustments and audit
News Market Reaction
On the day this news was published, BDSX gained 47.99%, reflecting a significant positive market reaction. Argus tracked a peak move of +38.1% during that session. Our momentum scanner triggered 48 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $26M to the company's valuation, bringing the market cap to $79M at that time. Trading volume was exceptionally heavy at 1202.6x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
BDSX was down 2.15% pre-news. Peers showed mixed moves: BNR (-0.85%), PRE (-7.28%), FONR (-0.05%), while MDXH (+0.62%) and XGN (+1.6%) rose. No peers appeared in the momentum scanner and no same-day peer headlines were flagged, pointing to stock-specific dynamics rather than a coordinated sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 03 | Scientific data presentations | Positive | +4.0% | New clinical and development data at NACLC and SABCS meetings. |
| Nov 03 | Quarterly earnings | Positive | -7.2% | Q3 2025 growth, margin improvement, raised full-year guidance. |
| Oct 30 | R&D roadmap event | Positive | +0.5% | Corporate Day at AMP outlining near- and long-term diagnostics plans. |
| Oct 22 | Partnership expansion | Positive | -12.2% | Expanded Bio-Rad ddPCR assay partnership and regulatory plans. |
| Oct 20 | Earnings call notice | Neutral | +3.1% | Announcement of timing and access details for Q3 2025 results call. |
Operationally positive news (partnerships, data, growth) has produced mixed share reactions, with both gains and notable sell-offs following constructive updates.
Over the last few months, Biodesix reported multiple milestones. On Nov 3, 2025, Q3 2025 revenue reached $21.8M with guidance raised to $84–86M and an expectation of Q4 Adjusted EBITDA positivity, yet the stock fell 7.17%. An expanded Bio-Rad partnership on Oct 22, 2025 led to a 12.15% decline. In contrast, conference and data presentations in October and December saw modest positive moves. Today’s preliminary 2025 results, which exceed prior guidance, build directly on that raised outlook.
Market Pulse Summary
The stock surged +48.0% in the session following this news. A strong positive reaction aligns with the company’s clear revenue acceleration and guidance beat. Preliminary Q4 2025 revenue of $28.8 million and full-year revenue of $88.5 million exceeded the prior $84–86 million range, while Lung Diagnostics and test volumes grew sharply. However, the history of mixed price responses to positive news and reliance on capital-raising tools highlight risks that could limit the durability of any sharp upside move.
Key Terms
adjusted ebitda financial
at-the-market financial
AI-generated analysis. Not financial advice.
Estimated Q4 2025 Revenue of
Grew full-year revenue to an estimated
Affirms guidance of Adjusted EBITDA positivity in Q4 2025.
LOUISVILLE, Colo., Jan. 12, 2026 (GLOBE NEWSWIRE) -- Biodesix, Inc. (Nasdaq: BDSX) (the company), a leading diagnostic solutions company, today announced its preliminary financial results for the fourth quarter and year ended December 31, 2025 (fiscal 2025). The financial results included in this release pertaining to the fourth quarter and fiscal 2025 are preliminary, unaudited, and subject to final review and adjustment.
“Biodesix finished 2025 with a strong fourth quarter delivering full year estimated revenue of
“2025 was another significant year for Biodesix as we presented and published new clinical and health economic data that directly support both our on-market and pipeline products. Based on our strong revenue flow-through and operating leverage, we are affirming our expectation of positive Adjusted EBITDA in the fourth quarter. I am exceptionally proud of the Biodesix team’s accomplishments in 2025 and their unwavering commitment to the healthcare professionals and the patients we serve. I look forward to building on this momentum in 2026.”
Preliminary Unaudited Fourth Quarter and Full-Year 2025 Financial Highlights
- Total revenue is estimated to be
$28.8 million and$88.5 million for the fourth quarter and fiscal 2025, respectively, an increase of41% and24% over the respective prior year comparable periods;- Lung Diagnostics revenue is estimated to be
$25.2 million and$79.2 million for the fourth quarter and fiscal 2025, respectively, an increase of47% and22% over the respective prior year comparable periods. Test volumes were 18,000 and 62,600 for the fourth quarter and fiscal 2025, respectively, an increase of23% and15% over the respective prior year comparable periods. The increase in Lung Diagnostics revenue was driven by growth in test volumes, an increase in average revenue per test, and approximately$1.0 million in collections from claims older than one year. Lung Diagnostics revenue excluding claims older than one year was$24.2 million , with core organic growth of41% over the prior year comparable period; - Development Services revenue is estimated to be
$3.6 million and$9.3 million for the fourth quarter and fiscal 2025, respectively, an increase of13% and41% over the respective prior year comparable periods.
- Lung Diagnostics revenue is estimated to be
- Cash and cash equivalents of
$19.0 million as of December 31, 2025, a14% increase over the third quarter of 2025, which is inclusive of$2.3 million in at-the-market proceeds during the quarter. Excluding the at-the-market proceeds, the cash balance was$16.7 million , an increase of$0.1 million compared with the cash balance of$16.6 million at the end of the third quarter of 2025.
The financial information above is preliminary and subject to Biodesix’s normal quarter and year-end accounting procedures and external audit by the company's independent registered public accounting firm. In addition, these preliminary unaudited results are not a comprehensive statement of the company’s financial results for the year ended December 31, 2025, should not be viewed as a substitute for full, audited financial statements prepared in accordance with generally accepted accounting principles, and are not necessarily indicative of the company’s results for any future period.
About Biodesix
Biodesix is a leading diagnostic solutions company, driven to improve clinical care and outcomes for patients. Biodesix Diagnostic Tests, marketed as Nodify Lung® Nodule Risk Assessment and IQLung® Cancer Treatment Guidance, support clinical decisions to expedite personalized care and improve outcomes for patients with lung disease. Biodesix Development Services enable the world’s leading biopharmaceutical, life sciences, and research institutions with scientific, technological, and operational capabilities that fuel the development of diagnostic tests, tools, and therapeutics. For more information, visit biodesix.com.
Trademarks: Biodesix, Biodesix Logo, Nodify Lung, and IQLung are trademarks or registered trademarks of Biodesix, Inc.
Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict,” “potential,” “opportunity,” “goals,” or “should,” and similar expressions are intended to identify forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors. Biodesix has based these forward-looking statements largely on its current expectations and projections about future events and trends. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions. Forward-looking statements may include information concerning possible or assumed future results of operations, including descriptions of our revenues, profitability, outlook, and overall business strategy, the timing and assumptions regarding collection of revenues on projections, availability of funds and future capital, the anticipated impact and benefits of new clinical data, reimbursement coverage and research partnerships, the impact of enhanced U.S. tariffs, import/export restrictions or other trade barriers on the company and its operations and financial performance and management’s preliminary views regarding the company’s performance. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Other factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of our most recent Annual Report on Form 10-K, filed March 3, 2025, or subsequent quarterly reports on Form 10-Q during 2025, as applicable. Biodesix undertakes no obligation to revise or publicly release the results of any revision to such forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.
Media:
Natalie St. Denis
Natalie.StDenis@biodesix.com
(720) 925-9285
Investors:
Chris Brinzey
Chris.Brinzey@icrhealthcare.com
(339) 970-2843
FAQ
What were Biodesix (BDSX) preliminary Q4 2025 revenues and growth rates?
Did Biodesix (BDSX) meet its full-year 2025 revenue guidance?
What did Biodesix say about profitability for Q4 2025 (BDSX)?
How much cash did Biodesix (BDSX) report at December 31, 2025 and what drove it?
How did Lung Diagnostics perform for Biodesix (BDSX) in 2025?
Are Biodesix’s Q4 and FY2025 results final and audited?
