BDSX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-04

• Diagnostic Testing revenue was $22.3 million in the first quarter, representing 37% year-over-year growth, driven by a 29% increase in test volumes to 17,800 and higher average revenue per test. The improvement in average revenue per test was primarily attributable to expanded payer coverage and enh…

• Development Services revenue of $3.3 million in the first quarter 2026, representing a 99% increase year over year, driven by continued execution on existing contracts and the addition of new Development Services agreements;

• Total revenue of $25.6 million in the first quarter 2026, an increase of 42% over the respective prior year comparable period;

• Gross margin was 84% in the first quarter, including a one‑time recovery of $0.4 million related to previously paid sales and use taxes. Excluding this one‑time item, gross margin was 82%, representing a 300‑basis‑point improvement over the prior‑year period. Margin expansion was driven by higher Di…

• Operating expenses (excluding direct costs and expenses) of $27.6 million for the first quarter 2026, an increase of 18% over the respective prior year comparable period. Sales, marketing, and general administrative investment increased 19% to support the 42% revenue growth delivered in the first qu…

Text removed vs the prior filing · source: 10-Q · 2025-11-03

• Total revenue of $21.8 million for the third quarter 2025, an increase of 20% over the prior year comparable period;

• Lung Diagnostic Testing revenue of $19.8 million for the third quarter, an increase of 16% over the prior year comparable period; driven by an increase in total tests delivered and increase in average revenue per test. In addition to the improvements from the Company’s payer coverage and revenue cyc…

• Development Services revenue of $1.9 million for the third quarter, an increase of 97% over the prior year comparable period, a result of both delivering against the Company’s book of contracted business and securing new agreements;

• Gross margin was $17.7 million, or 81% for the third quarter 2025, a 400-basis point improvement over the prior year comparable period, driven by growth in Lung Diagnostic testing, improvements in average revenue per test, and optimization of testing workflows that resulted in improvements in costs …

• Operating expenses (excluding direct costs and expenses) of $24.7 million for the third quarter 2025, an increase of 10% over the prior year comparable period;

Text added vs the prior filing · source: 10-Q · 2026-05-04

• Changes in payer reimbursement policies, claims review practices and broader healthcare policy and enforcement priorities may affect coverage, reimbursement rates, and the timing and amount of payment for our tests.

• Changes in payer reimbursement policies, claims review practices and broader healthcare policy and enforcement priorities, including initiatives focused on fraud and abuse such as the Trump Administration’s CMS Request for Information for a potential forthcoming “CRUSH” rule focused on strengthening…

Text removed vs the prior filing · source: 10-Q · 2025-11-03

• Our business could be adversely affected by a prolonged federal government shutdown, particularly if it results in interruptions to Medicare, Medicaid, or other federally funded healthcare programs.

• Our business could be adversely affected by a prolonged federal government shutdown, particularly if it results in interruptions to Medicare, Medicaid, or other federally funded healthcare programs. These programs represent a significant portion of our revenue, and any delay in payments, coverage de…

• There can be no assurance that our common stock will maintain compliance with the minimum bid price requirement or other applicable listing standards of The Nasdaq Stock Market LLC or another national securities exchange.

• There can be no assurance that we will be able to continue to meet The Nasdaq Global Market listing standards. We have in the past, and may in the future, be unable to comply with certain of the listing standards that we are required to meet to maintain the listing of our common shares on The Nasdaq…

• On March 24, 2025, we received written notice from the Staff of Nasdaq notifying us that we no longer complied with the minimum bid price requirement for continued listing on The Nasdaq Global Market. On September 15, 2025, we effected a 1-for-20 reverse stock split and on September 26, 2025, we rec…