MDxHealth Reports Preliminary Fourth Quarter and Full Year 2023 Revenues and Issues 2024 Revenue Guidance
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MDxHealth Reports Preliminary Fourth Quarter and Full Year 2023 Revenues and Issues 2024 Revenue Guidance

mdxhealth
mdxhealth

           

MDxHealth Reports Preliminary Fourth Quarter and Full Year 2023 Revenues
and Issues 2024 Revenue Guidance

IRVINE, CA, and HERSTAL, BELGIUM – January 8, 2024 (GlobeNewswire) – MDxHealth SA (NASDAQ: MDXH), a commercial-stage precision diagnostics company, today reported preliminary fourth quarter and full year 2023 revenues and issued 2024 revenue guidance. The Company expects to report fourth quarter and full year 2023 revenues of approximately $19.4 and $70.2 million, respectively, with a year-end cash balance of $22.4 million, which reflects $2.3 million of non-operating and non-recurring cash use in the fourth quarter, primarily attributed to the transition to a sole listing on NASDAQ. The Company is also issuing 2024 revenue guidance of $79-81 million and confirms view of adjusted EBITDA profitability in first half of 2025.

Michael K. McGarrity, CEO of mdxhealth, commented: “We are pleased to report continued execution on our growth strategy, with year-over-year revenue growth of approximately 89% (or 42% when excluding GPS). We are confident that the strength of our sales channel coupled with our expanded menu offering to our urology customer base will continue to drive sustainable growth. Based on our commitment to continued operating discipline and commercial execution, we anticipate 2024 revenue of $79-81 million, which would represent year-over-year revenue growth of approximately 13-15%.”

About mdxhealth

Mdxhealth is a commercial-stage precision diagnostics company that provides actionable molecular information to personalize patient diagnosis and treatment. The Company’s tests are based on proprietary genomic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis and prognosis of urologic cancers and other urologic diseases. For more information, visit mdxhealth.com and follow us on social media at: twitter.com/mdxhealth, facebook.com/mdxhealth and linkedin.com/company/mdxhealth.

2024 Reporting Calendar

  • March 6, 2024: 2023 FY results

  • May 8, 2024: Q1-2024 financial results and business update

  • May 30, 2024: Annual general shareholders’ meeting

  • August 21, 2024: Q2-2024 financial results and business update

  • November 6, 2024: Q3-2024 financial results and business update

Financial information and auditor review

The preliminary unaudited financial data for the year ended December 31, 2023 set forth above is derived from preliminary internal financial reports. The Company has not yet finalized its complete results of operations for the year ended December 31, 2023. The Company and its auditors may identify items that would require the Company to make adjustments, some of which could be material, to the preliminary unaudited financial data set forth above.