Biodesix, Inc. reported a total revenue of $88.5 million for the fiscal year ended December 31, 2025, marking a 24% increase from $71.3 million in 2024. The growth was primarily driven by a 22% rise in revenue from its Lung Diagnostic Testing segment, which generated $79.2 million, attributed to an increase in test volume and improved average revenue per test. The company delivered approximately 62,600 tests during the year, a 15% increase compared to the previous year. Additionally, revenue from Development Services rose by 41% to $9.3 million, reflecting the successful execution of contracts and the acquisition of new agreements.
Despite the revenue growth, Biodesix reported a net loss of $35.3 million for 2025, an improvement from the $42.9 million loss in 2024. The company attributed this reduction in losses to operational efficiencies, which increased gross margins to 81%, up from 78% in the prior year. Operating expenses, excluding direct costs, increased by 10% to $99.7 million, driven by investments in sales and marketing to support revenue growth. The company maintained a disciplined approach to cost management, limiting the growth of operating expenses while expanding its revenue base.
Strategically, Biodesix has focused on enhancing its clinical data and expanding reimbursement coverage for its diagnostic tests. The company has enrolled over 1,500 patients in its CLARIFY study, which aims to collect clinical outcomes data on patients receiving Nodify Lung Nodule Risk Assessment testing. This initiative is part of Biodesix's broader strategy to increase market adoption and payer coverage for its tests. The company also received recognition as a Top Workplace for the second consecutive year, reflecting its commitment to employee engagement and culture.
Operationally, Biodesix has continued to expand its workforce, with approximately 334 employees as of December 31, 2025. The company is investing in its sales force and customer support teams to drive further adoption of its diagnostic tests. The company’s financial position was bolstered by a pro forma cash balance of $33.7 million, which includes proceeds from an at-the-market offering. Looking ahead, Biodesix anticipates continued growth in both its diagnostic testing and development services segments, although it remains cautious about the potential impact of market conditions and regulatory changes on its operations and financial performance.
About BIODESIX INC
Biodesix, Inc. develops and commercializes blood-based diagnostic tests focused on lung disease, including lung cancer diagnosis, treatment guidance, and monitoring. Its core products combine proteomics, genomics, and AI technologies to provide personalized, timely clinical insights for healthcare providers and biopharmaceutical partners. Biodesix operates CLIA-certified labs in the U.S., serving pulmonologists, hospitals, and research institutions with proprietary tests that improve patient outcomes and reduce unnecessary procedures.
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