MDxHealth SA (MDXH), a commercial-stage precision diagnostics company, on Wednesday reported its first quarter financial results.
Shares fell by 44.63% in the pre-market on Thursday.
Q1 2026:
MDxHealth recorded net revenues of $27.38 million, rising 13% from the $24.29 million reported a year ago.
The gross profits amounted to $16.61 million, rising 7% from the $15.50 million gained in the first quarter of 2025.
The company saw a net loss of $8.87 million, or $0.17 per share, 4% lesser than the $9.21 million, or $0.19 per share reported in the previous year.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were a loss of $4.34 million in the first quarter, 226% higher when compared to the EBITDA loss of $1.33 million in the previous year.
Cash and cash equivalents held by the company on March 31, 2026, totaled $43.2 million.
Updated 2026 Guidance:
The company expects 2026 revenues for the core cancer business to reach $110 million to $115 million, estimating a 20%-26% growth over 2025 revenues of $98.2 million.
Business Updates:
MDxHealth approved a strategic exit plan for the discontinuation of the Resolve UTI offering and laboratories, which was developing Resolve mdx, a test for the diagnosis of urinary tract infections. The company received a contract recoupment decision from Medicare to pay $10.4 million as a result of the discontinuation but is contesting the claim.
The company reiterated its position in advancing AI across platforms in its core cancer research.
MDXH closed Wednesday at $1.95, up 4.28. In the pre-market, shares are trading at $1.09, down 44.62%.
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