Business
MDxHealth Reports Preliminary Q2 and Half Year 2024 Revenues and Raises 2024 Revenue Guidance
MDxHealth Reports Preliminary Q2 and Half Year 2024 Revenuesand Raises 2024 Revenue Guidance IRVINE, CA, and HERSTAL, BELGIUM – July 8, 2024 (GlobeNewswire)
About this update from Mdxhealth Sa
[{"type":"text","content":" MDxHealth Reports Preliminary Q2 and Half Year 2024 Revenuesand Raises 2024 Revenue Guidance IRVINE, CA, and HERSTAL, BELGIUM – July 8, 2024 (GlobeNewswire) – MDxHealth SA (NASDAQ: MDXH), a commercial-stage precision diagnostics company, today reported preliminary Q2 and half year 2024 revenues and cash. The Company expects to report Q2 and half year 2024 revenues of approximately $22.2 and $42.0 million, respectively, representing year-over-year growth of 32% and 34%, respectively, and representing sequential growth from Q1 of 12%. The Company is raising its full-year 2024 revenue guidance from $83-85 million to $85-87 million. The Company’s cash balance as of June 30, 2024, was $21.3 million. Michael K. McGarrity, CEO of mdxhealth, commented: “We believe these preliminary results for mdxhealth reflect our stated and firm commitment to deliver consistent and sustainable growth in our business, driven by our broad menu, sales execution and operating discipline. We are quite confident that this execution is now fundamentally built in across our operating teams and provide a unique profile of top line growth trajectory and operating leverage to meet our expected turn to adjusted EBITDA profitability in the first half of 2025. Based on our visibility to sustainable growth, we are taking our 2024 revenue guidance up from $83-85 million to $85-87 million, representing 23% year-over-year revenue growth at the midpoint of our guidance. We look forward to providing our full financial results and update on August 21st.” 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. The Company’s U.S. headquarters and laboratory operations are in Irvine, California, with additional laboratory operations in Plano, Texas. European headquarters are in Herstal, Belgium, with laboratory operations in Nijmegen, The Netherlands. For more information, visit mdxhealth.com and follow us on social media at: twitter.com/mdxhealth, facebook.com/mdxhealth and linkedin.com/company/mdxhealth. Financial information and auditor review...