Strong Revenue Growth
MDxHealth reported a 22% increase in revenues for the first quarter of 2025, reaching $24.3 million compared to $19.8 million in the same quarter of 2024.
Sustained Revenue Growth Record
This quarter marks the 16th consecutive quarter of 20% or greater revenue growth for MDxHealth.
Improved Gross Profit and Margin
Gross profit for the quarter was $15.5 million, a 29% increase from the prior year period, with gross margins improving to 63.8% from 60.8%.
Significant Growth in Tissue-Based Tests
Tissue-based test volume grew 41% in Q1, with the Confirm mdx and GPS tests contributing significantly to this growth.
Positive Adjusted EBITDA Outlook
MDxHealth expects to achieve positive adjusted EBITDA in the second quarter of 2025.
Financial Stability
Cash and cash equivalents were $65.7 million as of March 31, 2025, with a pro forma cash balance of $37.7 million after a $28 million earn-out payment.