BIODESIX INC Goodwill & Intangibles Disclosure
Note 6 – Goodwill and Intangible Assets
Intangible assets, excluding goodwill, consist of the following (in thousands):
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
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|
|
Cost |
|
|
Accumulated |
|
|
Net Carrying Value |
|
|
Cost |
|
|
Accumulated |
|
|
Net Carrying Value |
|
||||||
Intangible assets subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Patents |
|
$ |
1,953 |
|
|
$ |
(1,003 |
) |
|
$ |
950 |
|
|
$ |
1,940 |
|
|
$ |
(877 |
) |
|
$ |
1,063 |
|
Purchased technology |
|
|
16,900 |
|
|
|
(14,084 |
) |
|
|
2,816 |
|
|
|
16,900 |
|
|
|
(12,206 |
) |
|
|
4,694 |
|
Intangible assets not subject to |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Trademarks |
|
|
117 |
|
|
|
— |
|
|
|
117 |
|
|
|
117 |
|
|
|
— |
|
|
|
117 |
|
Total |
|
$ |
18,970 |
|
|
$ |
(15,087 |
) |
|
$ |
3,883 |
|
|
$ |
18,957 |
|
|
$ |
(13,083 |
) |
|
$ |
5,874 |
|
Amortization expense related to definite-lived intangible assets was (in thousands):
|
|
Year Ended December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
Direct costs and expenses |
|
$ |
2 |
|
|
$ |
2 |
|
Sales, marketing, general and administrative |
|
|
2,026 |
|
|
|
2,006 |
|
Total |
|
$ |
2,028 |
|
|
$ |
2,008 |
|
Future estimated amortization expense of intangible assets is (in thousands):
|
|
As of |
|
|
2026 |
|
|
1,992 |
|
2027 |
|
|
1,043 |
|
2028 |
|
|
103 |
|
2029 |
|
|
101 |
|
2030 |
|
|
100 |
|
2031 and thereafter |
|
|
427 |
|
Total |
|
$ |
3,766 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Mar 6, 2023 | |
| 2021 | Mar 14, 2022 | |
| 2020 | Mar 16, 2021 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.