Why did SBXD's operating profit turn negative in Q3 2024?

The operating profit of Biodesix Inc (BDSX) turned negative in Q3 2024, primarily due to the significant increase in revenue within the lung diagnostic segment, as detailed below:

1. **Revenue Growth in Lung Diagnostics**: BDSX's lung diagnostic revenue grew by 40% year-over-year, reaching $17.2 million, driven by strong adoption of Nodify tests despite disruptions from Hurricane Helene. This growth was particularly notable in the Nodify XL2 and Nodify CDT tests.
2. **Biopharmaceutical Services Decline**: However, the biopharmaceutical services segment experienced a 17% decline in revenue due to timing issues in sample receipt and project completion. This segment's performance is crucial as it contributes to diversifying the company's revenue streams and mitigating risks associated with reliance on a single segment.
3. **Overall Financial Impact**: The net effect of these changes led to a reported operating income of -$190,669 for Q3 2024. This financial outcome indicates that while the lung diagnostic segment showed strong growth, the negative performance in biopharmaceutical services and other factors led to an overall operating loss for the company.

In summary, BDSX's operating profit turned negative in Q3 2024 due to the growth in lung diagnostic revenue being offset by a decline in biopharmaceutical services revenue, resulting in a negative overall operating income.