Biodesix Inc. Common Stock (BDSX)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Graham taught me to demand a margin of safety, and Buffett adds that I should understand the business and its durable economics. Biodesix is a diagnostics company selling blood-based lung tests. Revenue is moving in the right direction: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $26.9M versus $20.0M in fiscal Q2 2025, the quarter ended 2025-06-30. Net loss in fiscal Q2 2026 was $7.3M versus $11.5M in fiscal Q2 2025. For fiscal year 2025, revenue was $88.5M and net loss was $35.3M, better than fiscal year 2024, when revenue was $71.3M and net loss was $42.9M. So there is a growth trajectory and some operating leverage. But that is where the charm fades. The company has lost money in each of the last four years, so the computed Lynch category is none. It generated negative trailing free cash flow of $20.4M, a FairStock FCF yield of -7.7%. At the $25.00 close on 2026-10-13, FairStock reports a negative P/E of -8.06, P/B of 28.74, ROE of -540.01%, ROCE of -14.05%, and debt-to-equity of 7.85. The Altman Z-Score of -5.24 is a distress warning. Piotroski F-Score is 5/9. FairStock Score is 33/100. A diagnostic test can have clinical value, but with continuing losses and high leverage, I cannot identify a durable moat or an obvious margin of safety at this price. This is a speculative situation, not a Graham value. Growth must eventually convert into cash earnings to justify the valuation.

In plain English: Biodesix sells blood tests that help doctors assess lung cancer risk. Sales are growing and losses are getting smaller, but the company still loses money, burns cash, and carries a lot of debt for its size. At $25.00 a share, the price looks expensive relative to its current earnings and accounting value, so it is not a classic safe bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer