Biodesix Q3 core lung diagnostic revenue up 102% to $9.2M; guidance at high end

BIODESIX INC

2022-Q3 EPS reported -$1.22 revenue$28,605,000

Core lung diagnostic revenue $9.2M (+102% YoY); total revenue $11.1M (+70% YoY).
Gross margin 67% vs 58% YoY, driven by growth in higher-margin core lung diagnostics.
Net loss $13.7M (up 19% YoY); cash $15.2M; raised $1.8M via equity; repaid $2.0M term loan.
All five core lung tests now covered by Medicare; added to Federal Supply Schedule for VA and Military Health.
2022 total revenue guidance expected at high end of $37.5M-$39.5M; minimal COVID/BioPharma in Q4.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

BIODESIX INC reported third quarter ended September 30, 2022 results: revenue $11.1 million, net income $(0.34) per diluted share, EPS $(0.34) per diluted share. Guidance reaffirmed.

Period: third quarter ended September 30, 2022
Revenue: $11.1 million
Net income: $(0.34) per diluted share
EPS: $(0.34) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

College of Chest Physicians (CHEST) annual meeting where we had several key presentations.” Third Quarter 2022 Financial Results For the three-month period ended September 30, 2022, as compared to the same period of 2021 (where applicable): • Total revenue of $11.1 million, an increase of 70%, driven primarily by strong year-over-year growth in core lung diagnostics: o Core lung diagnostic revenue of $9.2 million, reflected a year-over-year increase of 102% driven primarily by the increased adoption of Nodify Lung nodule management tests (Nodify CDT & Nodify XL2 tests) and the recent GeneStrat NGS commercial launch; o COVID-19 testing revenue of $1.3 million reflected a year-over-year increase of 154% that was driven primarily by testing volume under a now expired contract with the State of Colorado; o BioPharma Services revenue of $0.7 million decreased 55% year-over-year.

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Source: SEC EDGAR

accession 0000950170-22-021479

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