Biodesix delivered $25.6 million in first quarter revenue, up 42% year-over-year, and reported an 84% gross margin (82% excluding a $0.4 million tax recovery). The company narrowed its net loss to $7.8 million (30% improvement) and trimmed its adjusted EBITDA loss by 35% to $4.1 million, while ending the quarter with $25.6 million in cash.

Diagnostic Testing revenue rose 37% to $22.3 million, driven by a 29% increase in volume to 17,800 tests and higher average revenue per test via expanded payer coverage and revenue cycle enhancements. Development Services revenue nearly doubled to $3.3 million, reflecting new and existing contract execution that fueled a 99% increase.

For full-year 2026, Biodesix raised its revenue guidance to $108–114 million, with the mid-point reflecting approximately 25% growth, and maintained an ~80% gross margin target. The company expects ongoing adjusted EBITDA improvement and continued cash flow growth supported by at-the-market offering proceeds.

Management highlighted operational leverage from an expanding sales team, enhanced clinical evidence for Nodify Lung tests, and optimized laboratory workflows as key drivers toward profitability. Increased sales productivity and a growing Development Services pipeline are expected to sustain momentum through 2026.