The following is a summary of the MDxHealth SA (MDXH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• MDxHealth reported a Q1 2024 revenue growth of 35%, to $19.8 million, largely attributing this to its existing products.

• Gross profit for the same period increased by 38% from Q1 2023, with gross margins at 60.8%.

• The company managed to reduce its operating loss by 24%, to $6.6 million.

• MDxHealth announced a $100 million financing agreement with OrbiMed, of which $55 million has already been drawn, extending their cash run rate till their projected turn to adjusted EBITDA profitability in the first half of 2025.

• Year guidance for revenue has been raised between $83 million to $85 million indicating sustained growth.

Business Progress:

• Billing volumes for prostate tests recorded a year-over-year growth of 16%.

• The first revenue contributions from the hereditary germline test are expected in Q2 2024.

• The company has expanded its product line, now comprising of four prostate cancer diagnostics and expects profitability through continued growth and operating discipline by H1 2025.

• The expansion and improvement of relationships within the medical community, particularly with pathology partners, has accelerated the adoption of its offerings.

• The deal with OrbiMed ensures resource availability for long-term growth.

• The company foresees continued growth, including adoption of their germline initial acceptance.

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