The following is a summary of the MDxHealth SA (MDXH) Q3 2024 Earnings Call Transcript:

Financial Performance:

• MDxHealth reported a notable year-over-year revenue growth of 21% in Q3 2024, reaching $23.3 million.

• Gross profit for Q3 2024 was $14.3 million, marking a 14% increase year-over-year.

• The company anticipates reaching adjusted EBITDA positivity in the first half of next year and has raised its full-year 2024 revenue guidance to $87 million to $89 million.

• Expectations include a consistent commercial execution and operating discipline aiming for sustainable growth.

Business Progress:

• MDxHealth continues to experience growth in its urology precision diagnostics, driven by an effective sales and market access team.

• The company successfully raised $40 million in gross proceeds during Q3 to strengthen its financial position.

• Expansion of the test menu in urology diagnostics includes the introduction of new tests like Germline, alongside the existing tests such as Confirm mdx, GPS, Select mdx, and Resolve mdx.

Opportunities:

• The growing leadership in urology precision diagnostics positions MDxHealth to capitalize on sustained and strong revenue growth.

• The successful capital raise provides financial flexibility, supporting ongoing execution and future growth initiatives.

Risks:

• Operating loss for Q3 2024 widened to $6.1 million from $4.6 million year-over-year, reflecting increased expenses from clinical study and sales incentives despite growth.

• The Gross margin percentage for Q3 2024 decreased to 61.2% from 64.9% in Q3 2023 due to backlog recognition from the prior year.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.