MDxHealth Earnings Call Transcripts
Fiscal Year 2025
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Q4 and full-year 2025 saw strong revenue growth, driven by the ExoDx integration and balanced expansion across tissue and liquid biopsy segments. 2026 guidance targets 28% revenue growth and a 10% EBITDA margin, supported by disciplined capital allocation and operational efficiencies.
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Q3 revenue grew 18% year-over-year to $27.4M, with strong gross margin and positive adjusted EBITDA. The ExoDx acquisition expanded the test menu and salesforce, offsetting the exit from germline and SelectMDx, while 2025 revenue guidance remains unchanged at $108–$110M.
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Q2 2025 saw 20% revenue growth to $26.6M and the first positive adjusted EBITDA. The pending ExoDx acquisition is expected to accelerate growth, be accretive to EBITDA, and contribute over $20M in revenue in 2026, with further details post-closing.
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Q1 2025 delivered 22% revenue growth and 41% tissue-based test volume growth, with gross margin rising to 63.8%. The company reaffirmed 2025 guidance, expects positive Adjusted EBITDA in Q2, and continues to see strong adoption of its diagnostic menu among urology and pathology groups.
Fiscal Year 2024
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Q4 and full year 2024 revenue grew 28% with strong test volume gains and improved profitability metrics. 2025 guidance targets $108–$110 million in revenue and adjusted EBITDA positivity in the first half, with continued leverage from existing sales channels and a robust balance sheet.
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Diagnostic test volumes have rebounded, driving over 20% organic growth, especially in tissue-based tests. Menu expansion and commercial execution support sustainable growth, with further opportunities in urology and adjacent cancers. Gross margin and cost controls position the business for EBITDA break-even in early 2025.
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Q3 2024 saw 21% revenue growth and raised full-year guidance to $87–$89 million, driven by strong test volume increases and robust adoption in urology diagnostics. Cash position was strengthened by a $40M equity raise, and management projects sustainable 20%+ annual growth.
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Q2 2024 revenue grew 32% year-over-year to $22.2M, driven by strong test volume and menu expansion. Gross margin held at 60%, and 2024 revenue guidance was raised to $85–$87M, reflecting confidence in sustainable growth and new test launches.