The following is a summary of the MDxHealth SA (MDXH) Q2 2024 Earnings Call Transcript:

Financial Performance:

• MDxHealth reported a strong Q2 2024 with revenue growth of 32%, reaching $22.2 million, significantly up from the previous year.

• Gross profit for Q2 increased to $13.3 million, a 33% increase year-over-year, with gross margins slightly up to 60% from 59.7%.

• Operating loss improved slightly by 4% to $7.4 million in Q2 2024, down from $7.7 million in Q2 2023, reflecting better gross margins and operational efficiency.

• Cash and cash equivalents as of June 30, 2024, totaled $21.3 million.

Business Progress:

• MDxHealth highlighted successful integration of GPS Test operations and further advancements in their laboratory operations, enhancing their comprehensive diagnostic menu for prostate cancer.

• The company raised its 2024 revenue guidance to $85 million to $87 million, underlining confidence in their growth trajectory.

• Continued expansion in the U.S. market with a detailed segmentation approach that includes tissue-based and liquid-based tests, contributing to a broader understanding and adoption of their diagnostic solutions.

Opportunities:

• MDxHealth sees ongoing opportunities for revenue and market growth, specifically in precision diagnostics for prostate cancer, with sustained growth for tissue and liquid-based diagnostic tests.

• The introduction of a hereditary germline test and ongoing menu enhancements are expected to contribute to growth in the second half of the year.

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