Biodesix Delivers 41% Q4 Revenue Growth, Achieves First Adjusted EBITDA Profitability
Biodesix grew Q4 2025 revenue by 41% to achieve an 83% gross margin and first-ever adjusted EBITDA positivity, while test volumes rose 67% in primary care and 26% in pulmonology. Net loss narrowed to $4 million, but weather headwinds and seasonal trends will pressure ASP and volume in Q1 2026.
1. Q4 2025 Financial Highlights
In the fourth quarter of 2025, Biodesix generated a 41% increase in revenue, achieved an 83% gross margin (up 400 basis points), and recorded adjusted EBITDA positivity for the first time, while narrowing its net loss to $4 million.
2. Sales Growth and Strategic Partnerships
The company expanded its sales strategy, driving a 67% increase in primary care test volumes and a 26% rise from pulmonology, and secured development service partnerships with ThermoFisher Scientific and BioA Laboratories to bolster its diagnostic capabilities.
3. Q1 2026 Outlook and Strategic Focus
Looking to the first quarter of 2026, Biodesix expects seasonal headwinds—particularly weather disruptions—to pressure average selling prices and volume, will defer commercialization of new tests for the next 12 months to prioritize profitability and reimbursement timing, and continues to build primary care market penetration from a 12% volume base.