Biodesix (NasdaqGM:BDSX) - Share price, News & Analysis

BDSX fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	2/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

BDSX Stock Overview

Biodesix, Inc. operates as a data-driven diagnostic solutions company in the United States.

Rewards

Revenue is forecast to grow 22.95% per year

Risk Analysis

Highly volatile share price over the past 3 months

Currently unprofitable and not forecast to become profitable over the next 3 years

Shareholders have been diluted in the past year

Does not have a meaningful market cap ($59M)

Biodesix Competitors

Laboratory Corporation of America Holdings

NYSE:LH

US$23.0b

Quest Diagnostics

NYSE:DGX

US$16.6b

Guardant Health

NasdaqGS:GH

US$3.7b

Invitae

NYSE:NVTA

US$832.3m

Price History & Performance

Summary of all time highs, changes and price drops for Biodesix
Historical stock prices
Current Share Price	US$1.48
52 Week High	US$16.40
52 Week Low	US$1.31
Beta	0
1 Month Change	-9.20%
3 Month Change	-53.31%
1 Year Change	-89.00%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-88.45%

Shareholder Returns

	BDSX	US Healthcare	US Market
7D	-18.7%	0.09%	-2.7%
1Y	-89.0%	2.5%	-12.9%

Return vs Industry: BDSX underperformed the US Healthcare industry which returned 2.5% over the past year.

Return vs Market: BDSX underperformed the US Market which returned -12.9% over the past year.

Price Volatility

Is BDSX's price volatile compared to industry and market?
BDSX volatility
BDSX Average Weekly Movement	17.3%
Healthcare Industry Average Movement	10.7%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.9%
10% least volatile stocks in US Market	2.9%

Stable Share Price: BDSX is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 17% a week.

Volatility Over Time: BDSX's weekly volatility (17%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2005	218	Scott Hutton	https://www.biodesix.com

Biodesix, Inc. operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules. It also offers GeneStrat ddPCR and VeriStrat tests, which are used in the diagnosis of lung cancer to measure the presence of mutations in the tumor and the state of the patient’s immune system to establish the patient’s prognosis and help guide treatment decisions; and GeneStrat NGS (NGS) test, a 72-hour blood-based NGS test.

Biodesix Fundamentals Summary

How do Biodesix's earnings and revenue compare to its market cap?
BDSX fundamental statistics
Market Cap	US$58.89m
Earnings (TTM)	-US$51.78m
Revenue (TTM)	US$32.19m

1.8x

P/S Ratio

-1.1x

P/E Ratio

Is BDSX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BDSX income statement (TTM)
Revenue	US$32.19m
Cost of Revenue	US$15.54m
Gross Profit	US$16.65m
Other Expenses	US$68.44m
Earnings	-US$51.78m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.30
Gross Margin	51.74%
Net Profit Margin	-160.88%
Debt/Equity Ratio	129.9%

How did BDSX perform over the long term?

See historical performance and comparison

Valuation

Is Biodesix undervalued compared to its fair value and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

7.57x

Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BDSX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate BDSX's fair value for valuation analysis.

Price To Earnings Ratio

PE vs Industry: BDSX is unprofitable, so we can't compare its PE Ratio to the US Healthcare industry average.

PE vs Market: BDSX is unprofitable, so we can't compare its PE Ratio to the US market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BDSX's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: BDSX is overvalued based on its PB Ratio (7.6x) compared to the US Healthcare industry average (2.6x).

Future Growth

How is Biodesix forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

18.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BDSX is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BDSX is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BDSX is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: BDSX's revenue (22.9% per year) is forecast to grow faster than the US market (7.8% per year).

High Growth Revenue: BDSX's revenue (22.9% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BDSX is forecast to be unprofitable in 3 years.

Past Performance

How has Biodesix performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-15.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BDSX is currently unprofitable.

Growing Profit Margin: BDSX is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: BDSX is unprofitable, and losses have increased over the past 5 years at a rate of 15.5% per year.

Accelerating Growth: Unable to compare BDSX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BDSX is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare industry (9.6%).

Return on Equity

High ROE: BDSX has a negative Return on Equity (-665.52%), as it is currently unprofitable.

Financial Health

How is Biodesix's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: BDSX's short term assets ($27.2M) do not cover its short term liabilities ($29.8M).

Long Term Liabilities: BDSX's short term assets ($27.2M) exceed its long term liabilities ($24.1M).

Debt to Equity History and Analysis

Debt Level: BDSX has more cash than its total debt.

Reducing Debt: Insufficient data to determine if BDSX's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BDSX has sufficient cash runway for 6 months based on last reported free cash flow, but has since raised additional capital.

Forecast Cash Runway: BDSX is forecast to have sufficient cash runway for 5 months based on free cash flow estimates, but has since raised additional capital.

Dividend

What is Biodesix current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate BDSX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BDSX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BDSX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BDSX's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as BDSX has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure

CEO

Scott Hutton (49 yo)

2.33yrs

Tenure

US$4,654,563

Compensation

Mr. Scott Hutton serves as President, Chief Executive Officer and Director at Biodesix, Inc. since January 1, 2020. He served as Chief Operating Officer at Biodesix, Inc. since March 2018 until December 20...

CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD4.65M) is above average for companies of similar size in the US market ($USD770.27K).

Compensation vs Earnings: Scott's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: BDSX's management team is considered experienced (2.3 years average tenure).

Board Members

Experienced Board: BDSX's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: BDSX insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 48.1%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/22 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31