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Biodesix (BDSX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Biodesix (BDSX) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $24.0M · 33¢ of every $1 of revenue lost · operating margin -25.4%
Biodesix made $24.0M in Q3 2026 (+10% Y/Y): Diagnostic Tests $23.1M, Development Services $986K. Operating margin -25.4%, net loss $8.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $24.0M in Q3 2026, up 10% year over year and down 10% from the previous quarter. Diagnostic Tests was the largest line at 96% of revenue. Diagnostic Tests added $3.2M year over year (up 16%), 142% of the total change. Development Services declined 49%.
Operating costs exceeded revenue by $6.1M, an operating margin of -25.4%. Total costs grew 5% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+13%). The quarter ended with a net loss of $8.0M, wider than the previous quarter's $7.3M loss.
Operating cash flow was −$7.2M. Non-cash charges added back $1.4M of depreciation and amortization and $852K of share-based compensation. Working capital and other items used $1.4M. Capital expenditures of $555K exceeded it, leaving free cash flow of −$7.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $24.0M | +10% | -25.4% | −$8.0M | −$7.2M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $26.9M | +34% | -20.1% | −$7.3M | −$1.6M |
| Q1 2026 | 10-Q | May 4, 2026 | $25.6M | +42% | -24.3% | −$7.8M | −$10.2M |
| Q4 2025 | 10-K | Feb 26, 2026 | $28.8M | +41% | -6.8% | −$4.0M | $778K |
| Q3 2025 | 10-Q | Nov 3, 2025 | $21.8M | +20% | -32.4% | −$8.7M | −$8.9M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $20.0M | +12% | -48.6% | −$11.5M | −$6.6M |
| Q1 2025 | 10-Q | May 13, 2025 | $18.0M | +21% | -50.9% | −$11.1M | −$8.6M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Medicare & Medicaid — 32% of its revenue · Stated in 10-K (sentence) · source
About Biodesix
Biodesix is a leading diagnostic solutions company, driven to improve clinical care and outcomes for patients. Biodesix Diagnostic Tests , including the Nodify Lung® Nodule Risk Assessment test and the IQLung® Cancer Treatment Guidance test, 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 .
In its own words, from its 8-K, filed Aug 5, 2026.
Biodesix against its Services-Medical Laboratories peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +10%. Operating margin: -25.4% against the peers' median 6.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BDSX Biodesix | Q3 2026 | $24.0M | +10% | -25.4% |
| LH Labcorp Holdings | Q3 2026 | $3.8B | +7% | 10.6% |
| DGX Quest Diagnostics | Q3 2026 | $3.1B | +10% | 15.5% |
| NTRA Natera | Q3 2026 | $794M | +34% | -8.6% |
| FTRE Fortrea Holdings | Q3 2026 | $692M | -1% | 2.2% |
| RDNT RadNet | Q2 2026 | $623M | +25% | 6.3% |
| GH Guardant Health | Q3 2026 | $361M | +36% | -36.8% |
| CAI Caris Life Sciences | Q3 2026 | $275M | +27% | 7.0% |
| LMRI Lumexa Imaging Holdings | Q2 2026 | $264M | +5% | 8.7% |
Source: Biodesix 10-Q on SEC EDGAR · CIK 1439725 · Services-Medical Laboratories
Guidance and outlook
13F: who owns BDSX and who is buying
More on BDSX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results