Biodesix Announces Second Quarter 2024 Results and Highlights

About this update from Biodesix, Inc.

[{"type":"text","content":"\nQ2 2024 revenue grew 51% over Q2 2023 to $17.9 million;\n\n\nQ2 2024 gross profit margin of 78.4%, a 5.7% improvement from Q2 2023;\n\n\nRaises full-year 2024 revenue guidance to $70-72 million from $65-68 million;\n\n\nQ2 24 Net loss, including certain non-cash items, and Adjusted EBITDA improved by 19% and 38% over Q2 2023;\n\n\nConference Call and Webcast Today at 4:30 p.m. ET\n\n\n LOUISVILLE, Colo.--(BUSINESS WIRE)--\nBiodesix, Inc. (Nasdaq: BDSX), a leading diagnostic solutions company, today announced its financial and operating results for the second quarter ended June 30, 2024.\n\n\n“The second quarter marks sustained excellence in our execution, resulting in outstanding revenue growth coupled with consistently strong gross margins, and continued improvement on our path to profitability,” said Scott Hutton, CEO of Biodesix. “The team’s performance led to 51% growth in revenue and as a result we are raising our 2024 total revenue guidance to $70-$72 million, up from previously provided guidance of $65-$68 million. In combination with our revenue growth, our cost-disciplined approach resulted in improvements of 19% in Net Loss and 38% in Adjusted EBITDA, demonstrating progress on our path to profitability.”\n\n\n“It is important to note that our industry-leading commercial engine is continuing to drive market adoption of our five on-market lung diagnostic tests. These tests are transforming the diagnosis and treatment of patients with lung cancer. We have an incredible team of professionals dedicated and driven to making a difference in patients’ lives. I continue to be thankful for the team and our intentional focus on workplace culture so that we attract and retain the best talent.”\n\n\nSecond Quarter Ended June 30, 2024 Business Highlights\n\n\n\nNamed to Inc. Magazine’s 2024 Best Workplaces list. The ranking is based on a comprehensive, data- driven measurement process through anonymous employee surveys to identify which American companies have excelled in creating high-engagement workplaces and excellent company cultures.\n\n\n\nGrew Lung Diagnostic test volume to 13,900, a 42% improvement over the second quarter of 2023 and 17% over the first quarter of 2024.\n\n\n\nQuarterly gross profit margin of 78.4% versus 72.7% for the second quarter of 2023 and 78.6% for the first quarter of 2024.\n\n\n\nPresented compelli...

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