Biodesix (BDSX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Biodesix

NasdaqGM•Healthcare•Diagnostics & Research

$26.63+0.45(0.02%)After hours

Market Cap

$296.63M

P/S

2.9x

P/B

32.4x

Biodesix, Inc. operates as a diagnostic solutions company. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests markets as Nodify Lung Nodule Risk Assessment testing to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules. It also provides GeneStrat ddPCR, GeneStrat NGS, and VeriStrat tests markets as part of IQLung testing strategy, which are used in the diagnosis of lung cancer to measure the presence of mutations in the tumor and the state of the patient's immune system to guide treatment decisions. In addition, the company provides diagnostic solutions, including translational research, initial biomarker discovery, assay design, development and validation, testing of clinical trial samples, regulatory, reimbursement, commercialization, and logistical support services for biopharmaceutical, life sciences, and diagnostic companies. Further, it operates laboratories. The company was formerly known as Elston Technologies, Inc. and as changed to Biodesix, Inc. in 2006. Biodesix, Inc. was incorporated in 2005 and is headquartered in Louisville, Colorado.

How this company scores

WeakMetricSide Score: 49/100

Grade capped at D — Interest coverage below 1× (-2.6x) — earnings cannot cover interest. Strongest: Growth (20/25); weakest: Cash & Earnings Quality (7/25).

Profitability15/25

Growth20/25

Balance Sheet & Red Flags7/25

Cash & Earnings Quality7/25

Strengths

Growing revenueProfit converts from growthImproving leverageConsistent growth

Grade capped at D

Interest coverage below 1× (-2.6x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 2.9x5y range 0.5x – 4.0x

Currently above its 20-quarter median.

P/B · 32.4x5y range 2.4x – 36.3x

Currently above its 14-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $296.63M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $102.94M
Q. Revenue: $26.86M
TTM EBITDA: $-15.03M
TTM Op. Income: $-20.61M
Q. Op. Income: $-5.39M
TTM Net Income: $-27.76M
Q. Net Income: $-7.27M
EPS: $-0.71
Shares Out.: $10.30M

$102.94M in TTM revenue grew 34.5% YoY, reaching $26.86M last quarter. TTM EBITDA of $-15.03M and TTM operating income of $-20.61M show growth is flowing through to the bottom line. However, net income is negative at $27.76M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -14.9%
Op. Margin: -20.1%
Net Margin: -27.1%

Op. margin of -20.1% is up 28.5% YoY — cost efficiency is improving. Net margin at -27.1% Over the past year, operating margin is up 59% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.9x
P/B Ratio: 32.4x

P/S of 2.9x and P/B of 32.4x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $95.33M
Cash: $30.00M
Long-Term Debt: $46.82M
Book Value: $9.14M
D/E Ratio: 5.1
Debt/EBITDA: N/A

With $95.33M in assets and $46.82M in long-term debt, D/E is 5.1and book value is $9.14M — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is up 194% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-1.56M
TTM Free Cash Flow: $-20.24M
FCF Margin: -19.7%
FCF / Net Income: 0.7

TTM FCF of $-20.24M on $-1.56M in operating cash flow. The FCF / Net Income ratio of 0.7x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 35% — an improving trend.