Biodesix core revenue grows 52% year-over-year

BOULDER — Biodesix Inc. (Nasdaq: BDSX) experienced 52% year-over-year core revenue growth for the second quarter of 2022, the company reported Friday.

The life sciences company reported $7.3 million in revenue from its core lung cancer diagnostic tests, up from $4.8 million in the second quarter of 2021. Biodesix brought in $11 million in revenue overall, down 8% year-over-year from $11.9 million.

The company attributed its overall sales decline to an expected decrease in COVID-19 testing revenue, which was down 51% to $3 million from $6.1 million a year ago.

Operating expenses were up 21%, to $18.6 million from $15.3 million. 

Biodesix posted a net loss for the quarter of $15.8 million, 39% greater than the $11.3 million it lost in the second quarter of 2021. The company has $28.7 million in cash and equivalents on hand.

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