MDxHealth reports preliminary Q4 and full-year 2023 revenues

MDxHealth SA, 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%.”
MB Bureau