Biodesix Announces Preliminary Fourth Quarter and Full-Year 2024 Results (Unaudited)

Core Insights - Biodesix, Inc. reported an estimated total revenue of $71.3 million for fiscal 2024, marking a 45% increase year-over-year [1][3][6] - The company achieved significant growth in its Lung Diagnostics and Biopharma Services segments, with revenues increasing by 43% and 69% respectively [3][6] - Biodesix's operational efficiencies and cost-disciplined approach contributed to its progress towards profitability [3] Financial Highlights - Total revenue for Q4 2024 is estimated at$ 20.4 million, a 39% increase compared to the same quarter in the previous year [6] - Lung Diagnostics revenue for Q4 2024 is estimated at $17.2 million, reflecting a 34% year-over-year increase [6] - Biopharma Services revenue for Q4 2024 is estimated at$ 3.2 million, showing a 68% increase from the prior year [6] - The company entered 2025 with $12.2 million under contract but not yet recognized as revenue, a 54% increase over the previous year [6] Operational Metrics - Lung Diagnostic test volumes reached 14,600 in Q4 2024, a 34% increase year-over-year [6] - For the full year 2024, Lung Diagnostic test volumes totaled 54,300, representing a 40% increase compared to the previous year [6] - As of December 31, 2024, Biodesix reported cash and cash equivalents of$ 26.2 million [6] Company Overview - Biodesix is a leading diagnostic solutions company with five Medicare-covered tests for pulmonology patients [4] - The Nodify Lung® Nodule Risk Assessment and IQLung™ test portfolio are key offerings that support treatment decisions for lung cancer patients [4]