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Biodesix Inc key statistics and ratios

In fiscal 2025, Biodesix Inc had an operating margin of -31.5% and a current ratio of 1.86. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin−108.9%−50.3%−75.1%−132.4%−84.2%−48.4%−31.5%−20.0%
Net margin−125.1%−143.7%−79.2%−171.3%−106.2%−60.2%−39.8%−27.0%
Free-cash-flow margin−93.8%−51.2%−55.9%−126.3%−93.3%−72.7%−26.6%−19.7%
Return on equity——−141.8%—————
Return on assets−68.2%−78.8%−43.8%−77.5%−54.3%−43.7%−38.2%−30.4%
Asset turnover0.550.550.550.450.510.730.961.13
Current ratio0.562.681.512.341.192.761.862.85
Debt to equity—97.0%51.2%146.4%876.2%191.8%—546.8%
Interest cover (operating income ÷ interest)n/mn/mn/mn/mn/mn/mn/mn/m
R&D as % of revenue42.6%23.7%23.5%34.3%20.3%13.4%13.6%11.9%
SG&A as % of revenue124.8%76.5%92.7%160.8%137.3%112.8%98.9%90.6%
Capital spending as % of revenue5.3%4.3%4.1%8.6%46.7%4.5%0.3%0.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 7 checks passed · June 30, 2026
What it owns · $95m
Short-term assets $44mLonger-term assets $52m
What it owes, and who funded it · $95m
Short-term liabilities $15mLonger-term liabilities $71mShareholders' equity $9m
  • Short-term assets cover short-term liabilities $44m of assets due within a year against $15m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $44m short-term assets against $71m of longer-dated liabilities.
  • More cash than debt $30m of cash against $50m of debt.
  • Debt below 40% of shareholders' equity Debt is 547% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 51% to 547% over five years.
  • A year's operating cash flow covers at least 20% of debt −$20m of operating cash flow against $50m of debt.
  • Operating profit covers interest at least five times over Operating income of −$21m against $8m of interest.

From Biodesix Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

12 /100

Weak moat

How hard Biodesix's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -55.7% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -54.7%; its worst year was -162.7%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 6 years, at a median -70.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (17 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BDSX vs MDXHBDSX vs HBIOBDSX vs CDXS

More: Life Sciences Tools & Services stocks compared, Health Care sector, rankings of US companies

Figures from Biodesix Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Biodesix Inc.