Biodesix | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 25.56 M

Revenue: As of FY2026 Q1, the actual value is USD 25.56 M, beating the estimate of USD 23.18 M.

EPS: As of FY2026 Q1, the actual value is USD -0.81, beating the estimate of USD -1.096.

EBIT: As of FY2026 Q1, the actual value is USD -6.201 M.

Segment Revenue

• Total Revenue: Biodesix, Inc. delivered $25.6 million in total revenue for the first quarter of 2026, representing a 42% growth compared to the prior year comparable period.
• Diagnostic Testing Revenue: Diagnostic Testing revenue was $22.3 million in the first quarter of 2026, a 37% year-over-year growth, driven by a 29% increase in test volumes to 17,800 and higher average revenue per test.
• Development Services Revenue: Development Services revenue reached $3.3 million in the first quarter of 2026, marking a 99% increase year over year.

Operational Metrics

• Gross Margin: The gross margin was 84% in the first quarter of 2026. Excluding a one-time recovery of $0.4 million related to previously paid sales and use taxes, the gross margin was 82%, which is a 300-basis-point improvement over the prior-year period.
• Operating Expenses: Operating expenses (excluding direct costs and expenses) were $27.6 million for the first quarter of 2026, an 18% increase over the respective prior year comparable period. Sales, marketing, and general administrative investment increased by 19% to support the 42% revenue growth. Non-cash stock compensation expense was $1.1 million during the first quarter of 2026, an increase of 15% over the prior year comparable period.
• Net Loss: The net loss for the first quarter of 2026 was - $7.8 million, showing a 30% improvement over the prior year comparable period.
• Adjusted EBITDA: Adjusted EBITDA was a loss of - $4.1 million in Q1 2026, representing a 35% improvement from Q1 2025.

Cash and Cash Equivalents

• Cash and cash equivalents stood at $25.6 million as of March 31, 2026, an increase of 35% over the period ending December 31, 2025. This change included $16.8 million of at-the-market net proceeds, partially offset by planned cash outflows.

Outlook / Guidance

For the full year 2026, Biodesix, Inc. expects total revenue to be between $108 million and $114 million, reflecting approximately 25% growth over 2025 at the midpoint. The company anticipates maintaining a gross margin of approximately 80% and expects continued improvement in Adjusted EBITDA on its path to profitability. This revised guidance represents an increase from the prior guidance of $106-112 million in total revenue.