Kate Jansen

Kate Jansen asked for a breakdown of MDxHealth's 2026 revenue guidance, which implies 28% year-over-year growth. She sought details on the contributions from core volume growth, incremental revenue from the ExoDx acquisition, and cross-selling opportunities across the expanded menu, as well as the factors influencing the high and low ends of the guidance range. She also inquired about the expected gains from completing the customer transition to ExoDx and strategic mapping of the expanded customer base in Q1.

Answer

CEO Michael McGarrity explained that the ExoDx acquisition aimed to address challenges with Select mdx and balance growth between tissue and liquid biopsies. He reiterated the expectation of $20 million or more contribution from ExoDx in 2026 and noted the successful conversion of Select mdx customers to ExoDx in Q4. Mr. McGarrity emphasized that the guidance reflects clear visibility into leveraging the combined customer base of ExoDx and MDxHealth through cross-training and integration of the sales organization, driving adoption of the full menu.

Kate Janson, on behalf of Andrew Brackmann, asked for a detailed breakdown of the 2026 revenue guidance, specifically inquiring about the contributions from core volume growth, incremental ExoDx revenue, and cross-selling across the expanded menu, as well as the factors influencing the high and low ends of the guidance range. She followed up by asking for more details on the expected gains from the completed transition of customers to ExoDx and the strategic mapping of the expanded customer base.

Answer

CEO Michael McGarrity stated that the guidance reflects balanced growth across both tissue and liquid biopsies and opportunistic capitalization of the combined customer base from the ExoDx acquisition. He noted that the conversion of Select mdx to ExoDx customers in Q4 exceeded expectations and that cross-training and sales integration would continue in Q1. McGarrity explained that the primary gain is leveraging the combined customer base, identifying opportunities where strong ExoDx customers might benefit from MDxHealth's tissue tests and vice versa, with clear visibility to these synergies reflected in the guidance.