Biodesix grew sales, shrank losses in fourth quarter, 2023 fiscal year

BOULDER — Biodesix Inc. (Nasdaq: BDSX), a life-sciences company that specializes in developing tools to detect lung disease, saw improved financial performance in the fourth quarter of last year and for the full 2023 fiscal year.

The company posted a net loss of $9.1 million in the fourth quarter and a loss of $52.1 million in fiscal 2023, an improvement of 55% and 20%, respectively. 

Biodesix posted total revenue of $14.7 million in the fourth quarter and $49.1 million  for the full 2023 fiscal year, an increase of 52% and 49%, respectively.

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“I am exceptionally proud of the Biodesix team and our record of accomplishments in 2023,” said Scott Hutton, CEO of Biodesix. “We were focused on three goals: driving increased revenue through adoption of our Lung Diagnostic tests and Biopharmaceutical Services, implementing operational efficiencies to improve gross margins, and maintaining a strict cost discipline. I am very pleased with our significant progress on each of these goals.”

Looking ahead, Biodesix is projecting 2024 full-year sales of $65 million to $68 million.