Biodesix Reports Strong Q4 and Full-Year 2025 Results

Lung diagnostics revenue up 46% in Q4, with growth in both pulmonology and primary care channels

Published on Feb. 26, 2026

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Biodesix (NASDAQ:BDSX) reported fourth-quarter and full-year 2025 results that management said reflected progress on its priorities of accelerating revenue growth, improving operational leverage, and advancing a diagnostic pipeline aimed at supporting future expansion. The company saw 41% year-over-year revenue growth in Q4, driven by strength in its lung diagnostics business, and reported its first positive adjusted EBITDA quarter.

Why it matters

Biodesix's strong Q4 and full-year 2025 results demonstrate the company's ability to drive revenue growth and improve profitability, which are key priorities as it looks to expand its diagnostic offerings and commercial reach. The growth in lung diagnostics, particularly in the primary care channel, suggests Biodesix's strategy of targeting a broader range of providers is resonating in the market.

The details

Biodesix reported total revenue of $28.8 million in Q4 2025, up 41% year-over-year, and $88.5 million for the full year, up 24%. Gross margin improved to 83% in Q4 and 81% for the full year, driven by growth in lung diagnostic testing, higher average revenue per test, and workflow optimization. Lung diagnostics revenue was $25.1 million in Q4 and $79.2 million for the year, up 46% and 22% respectively. Test volumes grew 23% in Q4 and 15% for the full year, with primary care volumes accounting for 12% of total Nodify test volume in Q4 and growing 67% versus Q4 2024. The company ended the quarter with 97 sales representatives active in the field.

  • Biodesix reported Q4 and full-year 2025 results on February 26, 2026.
  • The company's lung diagnostics revenue growth and margin expansion occurred throughout 2025.

The players

Biodesix

A commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer.

Scott Hutton

Chief Executive Officer of Biodesix.

Robin Harper-Cowie

Chief Financial Officer of Biodesix.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

What’s next

Biodesix plans to continue advancing its diagnostic pipeline, including an MRD test combining proteomic and genomic information, expansion of the VeriStrat test into additional tumor types, and the development of AI-based digital diagnostics.

The takeaway

Biodesix's strong Q4 and full-year 2025 results, driven by growth in its lung diagnostics business and improved profitability, position the company well to continue executing on its strategic priorities and expanding its diagnostic offerings to support future growth.