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Biodesix Q3 revenue misses estimates on seasonality impact, project delays

By Reuters News


Overview

  • Diagnostic solutions firm's Q3 revenue grew 10% yr/yr but missed analyst expectations

  • Adjusted EBITDA loss improved 16% yr/yr as company reduced net loss

  • Company revised 2026 revenue guidance to $101 mln-$103 mln, reflecting Q3 results and project timing


Outlook

  • Biodesix expects 2026 revenue of $101 mln to $103 mln

  • Company anticipates maintaining gross margins of approximately 80% in 2026

  • Outlook reflects sales team expansion and timing of Development Services contract execution


Result Drivers

  • SALES TEAM SHORTFALL - Fewer contributing sales representatives than planned limited new physician and account growth, per CEO Scott Hutton

  • SEASONALITY IMPACT - Greater-than-anticipated seasonality, primarily in primary care, reduced ordering frequency among otherwise stable base customers, per CEO Scott Hutton

  • PROJECT DELAYS - Delays in external customer dependencies postponed the start of Development Services projects and associated revenue recognition, per CEO Scott Hutton


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$24.04 mln

$27.49 mln (7 Analysts)

Q3 Net Loss

$8.03 mln

Q3 Operating Expenses

$30.15 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the healthcare facilities & services peer group is "buy"

  • Wall Street's median 12-month price target for Biodesix Inc is $40.00, about 86.1% above its November 4 closing price of $21.49


Reuters Recommended Reads

  • Nov 4 - Adaptive Biotechnologies Q3 revenue falls 11% but beats estimates

  • Nov 4 - Bio-Rad's Q3 revenue comes slightly above estimates on Clinical Diagnostics growth

  • Nov 4 - Caris Life Sciences' Q3 revenue rises on molecular profiling strength


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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