Biodesix (BDSX) Earnings Call Presentation

Company Overview - Biodesix is a leading diagnostics company focused on improving clinical care and patient outcomes[1, 12] - The company's mission is to transform patient care through personalized diagnostics that are timely, accessible, and address immediate clinical needs[13] - Biodesix envisions a world where patient diseases are conquered with the guidance of personalized diagnostics[14] Business Lines and Key Capabilities - Biodesix generates revenue through two business lines: Lung Diagnostic Tests and Development Services[15] - The company expects to have approximately 95 sales representatives focused on lung diagnostics in the field by 4Q25[19] - Biodesix boasts industry-leading gross margins of 794%[19] - Development Services had $109 million in contracts not yet recognized as of the end of Q1 2025[73] Lung Diagnostic Tests - Lung cancer accounts for approximately 1 in 5 cancer deaths annually in the USA[29] - Approximately 80% of patients assessed for lung cancer risk fall into the low to moderate risk category (5-65%)[37, 43] - The Nodify Lung test identifies likely malignant nodules with 78% PPV, 98% specificity, and 28% sensitivity, and identifies likely benign nodules with 98% NPV, 97% sensitivity, and 44% specificity[46] Financial Performance - Total revenue for Q1 2025 was $180 million, representing a 21% year-over-year growth[76, 78] - Lung Diagnostics revenue in Q1 2025 was $163 million, an 18% increase year-over-year[76, 81] - Development Services revenue in Q1 2025 was $17 million, a 61% increase year-over-year[76, 81]