The strong Q2 beat with accelerating diagnostic test volumes and maintained guidance supports the growth narrative. Monitor the Q3 2026 report for continued volume acceleration and progress toward Adjusted EBITDA breakeven, which is the key catalyst for further multiple expansion.
Price Chart
Executive Summary
Biodesix reported Q2 2026 revenue of $26.9M (+34% YoY) and GAAP EPS of -$0.71, beating consensus estimates of -$0.90 by 21.4%. Diagnostic Testing revenue grew 42% YoY to $25.4M on 38% volume growth, while FY 2026 revenue guidance of $108-114M was maintained. The strong beat, accelerating test volumes, and expanding gross margins (82%) reinforce the growth trajectory, though the company remains unprofitable with a net loss of $7.3M.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $26.9M, +34% YoY, beating $26.0M consensus
- GAAP EPS of -$0.71 beat consensus of -$0.90 by 21.4%
- Diagnostic Testing revenue $25.4M, +42% YoY on 38% volume growth to 20,900 tests
- Gross margin 82%, up 200 bps YoY
- Net loss improved 37% YoY to $7.3M; Adjusted EBITDA loss improved 56% to $3.2M
- FY 2026 revenue guidance maintained at $108-114M (midpoint ~25% growth)
- Cash and equivalents $30.0M, up 17% from Q1 2026, including $6.5M ATM proceeds
Financial Impact
Revenue beat consensus by $0.9M (3.5%); EPS beat by $0.19 (21.4%)
Risk Factors
- Development Services revenue declined 29% YoY to $1.5M, adding volatility to total revenue mix
- Company remains unprofitable with $7.3M net loss and negative Adjusted EBITDA of $3.2M
- Cash burn continues; $30M cash position provides limited runway without further ATM or debt financing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-335010 |
| Document: bdsx-20260805.htm | 0001193125-26-335010 |
| Document: 0001193125-26-335010-index-headers.html | 0001193125-26-335010 |
| Document: 0001193125-26-335010-index.html | 0001193125-26-335010 |
| Document: 0001193125-26-335010.txt | 0001193125-26-335010 |
| 8-K Data (Synthetic) | 0001193125-26-335010 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 6d ago | Press Release | $23.87 | awaiting T+20 | — | $21.11 (−11.56%) |
Oct 19, 2026 7d ago | Press Release | $23.40 | awaiting T+20 | — | $21.11 (−9.79%) |
Aug 15, 2026 10w ago | Institutional Cluster | $23.25 $27.70 | ▲ +19.14% | ▲ +21.12% | $21.11 (−9.20%) |
Aug 13, 2026 10w ago | Insider Buy | $24.00 $27.40 | ▲ +14.17% | ▲ +16.16% | $21.11 (−12.04%) |
Aug 12, 2026 10w ago | Insider Buy | $23.79 $26.97 | ▲ +13.35% | ▲ +15.09% | $21.11 (−11.27%) |
Aug 5, 2026 11w ago | 8-K | $22.10 $26.48 | ▲ +19.80% | ▲ +19.20% | $21.11 (−4.48%) |
Jun 1, 2026 21w ago | EFFECT | $15.27 $22.55 | ▲ +47.68% | ▲ +48.97% | $21.11 (+38.24%) |
May 4, 2026 24w ago | Press Release | $14.94 $15.44 | ▲ +3.35% | ▼ −1.61% | $21.11 (+41.30%) |
Apr 20, 2026 27w ago | Press Release | $13.17 $14.25 | ▲ +8.20% | ▲ +4.00% | $21.11 (+60.29%) |
Mar 20, 2026 31w ago | Press Release | $14.88 $13.17 | ▼ −11.46% | ▼ −20.78% | $21.11 (+41.92%) |
US Market Status
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