$BDSX

BIODESIX INC

CIK:0001439725|SEC Filings

Condensed Statements of Operations - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Revenues

$ 26,861

$ 20,018

$ 52,416

$ 37,976

Operating expenses:

Direct costs and expenses

4,820

4,031

9,025

7,734

Research and development

3,135

3,269

6,420

6,139

Sales, marketing, general and administrative

24,282

22,411

48,543

42,859

Impairment loss on intangible assets

Total operating expenses

32,249

29,737

64,005

56,831

Loss from operations

(5,388)

(9,719)

(11,589)

(18,855)

Other (expense) income:

Interest expense

(1,982)

(1,898)

(3,959)

(3,583)

Change in fair value of warrant liability, net

(280)

Other income, net

482

149

Total other expense

(1,885)

(1,749)

(3,477)

(3,714)

Net loss

$ (7,273)

$ (11,468)

$ (15,066)

$ (22,569)

Net loss per share, basic

^[1]

$ (0.71)

$ (1.56)

$ (1.51)

$ (3.08)

Net loss per share, diluted

^[1]

$ (0.71)

$ (1.56)

$ (1.51)

$ (3.08)

Weighted-average shares outstanding, basic

^[1]

10,296

7,333

9,977

7,316

Weighted-average shares outstanding, diluted

^[1]

10,296

7,333

9,977

7,316

[1]	All share and per share information have been adjusted to reflect the 1-for-20 reverse stock split effective September 15, 2025.

Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
Condensed Statements of Cash Flows - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (15,066)	$ (22,569)
Adjustments to reconcile net loss to net cash, cash equivalents, and restricted cash used in operating activities
Depreciation and amortization	2,783	2,876
Reduction (accretion) of lease right-of-use assets	43	(59)
Share-based compensation expense	1,935	2,011
Change in fair value of warrant liability, net		280
Provision for credit losses	116	109
Accrued interest, amortization of debt issuance costs and other	661	639
Inventory excess and obsolescence	26	11
Impairment loss on intangible assets	17	99
Changes in operating assets and liabilities:
Accounts receivable	(194)	1,085
Other current assets	13	318
Other long-term assets	1,039	(5)
Accounts payable and other accrued liabilities	(1,577)	399
Deferred revenue	(813)	(114)
Current and long-term operating lease liabilities	(713)	(250)
Net cash, cash equivalents, and restricted cash used in operating activities	(11,730)	(15,170)
Cash flows from investing activities
Purchase of property and equipment	(278)	(125)
Patent costs and intangible asset acquisition, net	(120)	(107)
Net cash, cash equivalents, and restricted cash used in investing activities	(398)	(232)
Cash flows from financing activities
Proceeds from the issuance of common stock	23,886
Proceeds from issuance of common stock under employee stock purchase plan	354	313
Proceeds from exercise of stock options	9
Proceeds from term loan and notes payable		10,000
Repayment of term loan and notes payable	(6)	(12)
Payment of debt issuance costs	(39)	(27)
Equity financing costs	(756)
Other	(311)	(388)
Net cash, cash equivalents, and restricted cash provided by financing activities	23,137	9,886
Net increase (decrease) in cash, cash equivalents, and restricted cash	11,009	(5,516)
Cash, cash equivalents, and restricted cash ‑ beginning of period	19,075	26,332
Cash, cash equivalents, and restricted cash ‑ end of period	30,084	20,816
Supplemental cash flow information:
Equity financing costs included in accounts payable and other accrued liabilities	4
Operating lease right-of-use asset obtained in exchange for lease liabilities	289	45
Finance lease right-of-use assets obtained in exchange for lease liabilities		172
Cash paid for interest	3,274	2,941
Issuance of Sixth Amendment Warrants	1,251
Change in fair value of Perceptive Warrants		227
Reclassification of Tranche C warrants to additional paid-in capital		$ 280
Purchases of property & equipment included in accounts payable and accrued liabilities	$ 4

Condensed Balance Sheets - USD ($)
$ in Thousands

Jun. 30, 2026

Dec. 31, 2025

Current assets

Cash and cash equivalents

$ 29,996

$ 18,987

Accounts receivable, net of allowance for credit losses of $117 and $62

9,113

9,036

Other current assets

4,456

4,495

Total current assets

43,565

32,518

Non‑current assets

Property and equipment, net

23,803

24,817

Intangible assets, net

2,979

3,883

Operating lease right-of-use assets

3,542

2,997

Goodwill

15,031

Other long-term assets

6,406

8,230

Total non‑current assets

51,761

54,958

Total assets

95,326

87,476

Current liabilities

Accounts payable

2,160

3,080

Accrued liabilities

10,411

11,033

Deferred revenue

205

961

Current portion of operating lease liabilities

1,609

1,364

Current portion of notes payable

Other current liabilities

906

992

Total current liabilities

15,291

17,436

Non‑current liabilities

Long‑term notes payable, net of current portion

46,817

47,445

Long-term operating lease liabilities

23,370

24,039

Other long-term liabilities

704

1,021

Total non‑current liabilities

70,891

72,505

Total liabilities

86,182

89,941

Commitments and contingencies

Stockholders' equity (deficit)

Preferred stock, $0.001 par value, 5,000,000 authorized; 0 (2026 and 2025) issued and outstanding

Common stock, $0.001 par value, 200,000,000 authorized; 10,549,890 (2026) and 8,253,053 (2025) shares issued and outstanding

^[1]

Additional paid‑in capital

^[1]

521,961

495,289

Accumulated deficit

(512,828)

(497,762)

Total stockholders' equity (deficit)

9,144

(2,465)

Total liabilities and stockholders' equity (deficit)

$ 95,326

$ 87,476

[1]	All share information, Common stock balances, and Additional paid-in capital balances have been adjusted to reflect the 1-for-20 reverse stock split effective September 15, 2025.