Biodesix shares jump as lung test demand powers revenue beat

Biodesix (NASDAQ:BDSX) shares surged in early Monday trading after the lung diagnostics firm reported preliminary 2025 revenue that eclipsed its own upwardly revised guidance.

The company’s focus on high-margin lung cancer testing and a strategic expansion into primary care drove a 41% revenue spike in the fourth quarter.

The Louisville, Colorado-based company expects to report total 2025 revenue of approximately $88.5 million, surpassing the $84 million to $86 million range it provided in November.

The year-end performance was anchored by the Lung Diagnostics segment, which generated $25.2 million in the fourth quarter alone—a 47% year-over-year increase.

The preliminary results also suggest the company is nearing a financial turning point.

Biodesix affirmed its expectation of achieving positive Adjusted EBITDA for the fourth quarter of 2025, a key milestone for the money-losing diagnostic firm as it looks to prove its commercial viability.

Net product revenue per test also increased, further supported by roughly $1 million in collections from claims older than one year.

The company's Development Services arm, which partners with biopharmaceutical firms, also showed momentum, with full-year revenue rising 41% to $9.3 million.

Biodesix ended the year with $19 million in cash and equivalents, bolstered by a modest $2.3 million raised through an at-the-market equity program.