MDxHealth (MDXH) Company Report

Analyst Coverage

Research analysts who have asked questions during MDxHealth earnings calls.

Jason Bednar

Piper Sandler Companies

4 questions for MDXH

Also covers: ALGN, COO, EDAP +17 more

Andrew Brackmann

William Blair & Company, L.L.C.

3 questions for MDXH

Also covers: ADPT, AWH, BDSX +13 more

Nelson Cox

Lake Street Capital Markets

3 questions for MDXH

Also covers: AORT, AQST, CVRX +6 more

Thomas Vranken

KBC Securities

3 questions for MDXH

Bill Bonello

Craig-Hallum Capital Group LLC

2 questions for MDXH

Also covers: ADPT, BDSX, CDNA +8 more

Kate Jansen

William Blair

2 questions for MDXH

Mark Massaro

BTIG, LLC

2 questions for MDXH

Also covers: ADPT, AKYA, BLLN +20 more

Thomas Flaten

Lake Street Capital Markets

2 questions for MDXH

Also covers: ACHV, AQST, ASRT +13 more

Dan Brennan

UBS

1 question for MDXH

Also covers: A, ADPT, AVTR +17 more

Daniel Brennan

TD Cowen

1 question for MDXH

Also covers: A, ADPT, AVTR +25 more

Vidyun Bais

BTIG

1 question for MDXH

Also covers: AKYA, BNGO, CERS +6 more

Latest news

Recent press releases and 8-K filings for MDXH.

MDxHealth Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance

MDXH

Earnings

Guidance Update

M&A

MDxHealth reported Q4 2025 revenue of $29.5 million, a 19% increase compared to the prior year quarter, and full year 2025 revenue of $107.9 million. The Q4 adjusted EBITDA was -$2.1 million.
For 2026, the company provided revenue guidance between $137 million and $140 million, which implies approximately 28% year-over-year growth at the midpoint, and expects to achieve an adjusted EBITDA of 10% of revenue by the end of the year.
The integration of the ExoDx business was completed in Q4 2025, with all Select mdx customers transitioned to ExoDx, and the integration of the sales organization is anticipated to be finalized by the end of Q1 2026.
MDxHealth amended the Exact Sciences earn-out from the GPS acquisition, which will lower the upcoming payment by close to $20 million and defer the full earn-out by an additional year.
Ron Kalfus has returned to the role of Interim Chief Financial Officer.

1 day ago

Transcript

MDxHealth Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance, and Details ExoDx Integration

MDXH

Earnings

Guidance Update

M&A

MDxHealth reported Q4 2025 revenue of $29.5 million, a 19% increase year-over-year, contributing to a full-year 2025 revenue of $107.9 million.
The company's Q4 2025 financial performance is summarized below : | Metric | Q4 2025 | |---|---| | Gross Profit ($USD Millions) | $18.7 | | Gross Margin (%) | 63.2% | | Operating Loss ($USD Millions) | -$5.3 | | Net Loss ($USD Millions) | -$8.9 | | Adjusted EBITDA ($USD Millions) | -$2.1 | | Cash and Cash Equivalents ($USD Millions) | $29 |
MDxHealth provided 2026 revenue guidance of $137 million to $140 million and expects to achieve an adjusted EBITDA performance of 10% of revenue by the end of 2026.
The company completed the integration of the ExoDx business in Q4 2025, successfully transitioning all Select mdx customers to ExoDx, and initiated the integration of its sales organization, projected to be completed by the end of Q1 2026.
An amendment to the Exact Sciences earn-out from the GPS acquisition reduced the upcoming payment by approximately $20 million and deferred the full earn-out amount by an additional year.

1 day ago

Transcript

MDxHealth Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance

MDXH

Earnings

M&A

Guidance Update

MDxHealth reported Q4 2025 revenue of $29.5 million, a 19% increase compared to the prior year quarter, contributing to full-year 2025 revenue of $107.9 million.
For Q4 2025, the company achieved a gross profit of $18.7 million with gross margins at 63.2%, while adjusted EBITDA was -$2.1 million.
The company initiated the integration of the ExoDx business in Q4 2025, successfully transitioning all Select mdx customers, and amended its Exact Sciences earn-out to reduce an upcoming payment by approximately $20 million.
MDxHealth provided 2026 revenue guidance of $137 million to $140 million, representing approximately 28% year-over-year growth, and anticipates reaching 10% adjusted EBITDA as a percentage of revenue by the end of 2026.

1 day ago

Transcript

MDxHealth SA Announces Q4 and Full-Year 2025 Financial Results and Interim CFO Appointment

MDXH

Earnings

Guidance Update

CFO Change

MDxHealth SA reported Q4 2025 revenue of $29.5 million, a 19% increase year-over-year, and full-year 2025 revenue of $107.9 million, up 20% from 2024.
The company significantly improved its profitability, with full-year 2025 Adjusted EBITDA at ($1.1) million, an improvement of 92% compared to the prior year.
MDxHealth SA ended 2025 with $29.0 million in cash and cash equivalents.
For 2026, the company expects revenue of $137-140 million, representing 27-30% growth, and aims for a 10% Adjusted EBITDA margin exiting 2026.
Ron Kalfus was appointed interim Chief Financial Officer, effective February 26, 2026.

1 day ago

6-K

MDxHealth SA Details Exosome Diagnostics Acquisition and GPS Earnout Amendment

MDXH

M&A

New Projects/Investments

MDxHealth SA completed the acquisition of Exosome Diagnostics, Inc. on September 15, 2025, for up to $15 million, involving an initial $5 million in stock payment and subsequent annual payments.
On January 9, 2026, MDxHealth and Exact Sciences amended the earnout obligation related to the 2022 GPS acquisition, deferring payments to $15.0 million in 2026, $18.0 million in 2027, and $21.5 million in 2028, and issuing warrants for 3 million shares to Exact Sciences.
Unaudited pro forma combined revenues for the year ended December 31, 2024, were $112,898 thousand, resulting in a net loss of $(65,983) thousand.
For the six months ended June 30, 2025, pro forma combined revenues were $63,912 thousand, with a net loss of $(34,060) thousand.

Feb 11, 2026, 9:29 PM

6-K

MDxHealth Reports Preliminary Q4 and Full Year 2025 Revenues, Issues 2026 Guidance, and Amends Earnout Terms

MDXH

Earnings

Guidance Update

M&A

MDxHealth reported preliminary Q4 2025 revenue of approximately $30.5 million and full year 2025 revenue of approximately $109 million, reflecting year-over-year growth of 23% and 21%, respectively.
The company provided 2026 revenue guidance of $137-140 million, anticipating year-over-year growth of 26-28%.
An amendment to the earnout obligation with Exact Sciences defers payments to $15.0 million in 2026, $18.0 million in 2027, and $21.5 million in 2028.
As part of the earnout amendment, MDxHealth will issue Exact Sciences warrants exercisable into 3 million shares at $5.265 per warrant.
MDxHealth concluded 2025 with a cash balance of $29.0 million and aims for an adjusted EBITDA margin run rate of 10% exiting 2026.

Jan 12, 2026, 1:18 PM

6-K

MDxHealth Reports Strong Q3 2025 Results and Reaffirms Full-Year Guidance

MDXH

Earnings

Guidance Update

M&A

MDxHealth SA reported Q3 2025 revenues of $27.4 million, an 18% increase over the prior year period, contributing to nine-month revenues of $78.3 million, up 20% year-to-date.
The company achieved positive adjusted EBITDA of $1.0 million for Q3 2025, marking a $4.8 million improvement from the prior year.
Net loss for Q3 2025 improved by 28% to $8.0 million.
MDxHealth SA reaffirmed its full-year revenue guidance of $108 million to $110 million, anticipating Q4 and full-year growth to meet or exceed 20%.
The company completed the acquisition of the Exosome Diagnostics business from Bio-Techne Corporation on September 15, 2025.

Nov 12, 2025, 9:17 PM

6-K

MDxHealth Announces Closing of ExoDx Diagnostics Acquisition

MDXH

M&A

New Projects/Investments

MDxHealth SA announced the closing of its acquisition of the ExoDx business from Bio-Techne Corporation on September 15, 2025.
The acquisition, which includes the ExoDx Prostate test and related assets, has a total consideration of $15 million.
The payment structure involves $5 million in stock paid at closing and $2.5 million annually over the next four years, with 50% in cash and 50% in cash or stock at MDxHealth’s discretion.