MDxHealth (MDXH) AI Stock Analysis

• Market Cap: $202.44M
• Dividend Yield: N/A
• Average Volume (3M): 176.97K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.19
• Revenue Growth: 22.56%
• EPS Growth: 41.62%
• Country: US
• Employees: 312
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -0.15
• Shares Outstanding: 49,497,334
• 10 Day Avg. Volume: 159,645
• 30 Day Avg. Volume: 176,966
• PEG Ratio: 0.06
• Price to Book (P/B): 7.77
• Price to Sales (P/S): 1.28
• P/FCF Ratio: -5.85
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 2.16
• Enterprise Value/Gross Profit: 3.39
• Enterprise Value/Ebitda: -31.83
• 1Y Price Target: $6.00
• Price Target Upside: 36.36% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 48 Neutral
• Price Target: $4.00 ▼(-9.09% Downside)

MDxHealth's stock score is primarily impacted by its financial instability, with strong revenue growth overshadowed by profitability and cash flow challenges. Technical indicators provide some positive momentum, but valuation concerns due to negative earnings weigh heavily on the score.

Positive Factors

Revenue Growth

The 21% revenue growth reflects strong demand for MDxHealth's diagnostic tests, indicating successful market penetration and product adoption, which supports long-term business sustainability.

Strategic Acquisition

The acquisition of Exosome Diagnostics strengthens MDxHealth's product portfolio and market position, potentially driving future revenue growth and expanding its footprint in cancer diagnostics.

Gross Profit Improvement

A 30% increase in gross profit indicates improved operational efficiency and cost management, which can enhance profitability and support sustainable growth over the long term.

Negative Factors

Profitability Challenges

Ongoing profitability challenges, with negative EBIT and net income, highlight financial pressure that could hinder reinvestment and growth opportunities if not addressed.

High Leverage

High leverage poses financial risks, potentially limiting MDxHealth's ability to invest in growth initiatives and increasing vulnerability to economic downturns.

Negative Cash Flow

Sustained negative cash flow from operations suggests difficulties in self-funding business activities, potentially leading to reliance on external financing, which can affect long-term financial stability.

MDxHealth Business Overview & Revenue Model

Company Description

MDxHealth (MDXH) is a molecular diagnostics company focused on developing and commercializing innovative tests that help in the diagnosis and management of cancer. The company primarily operates in the healthcare sector, specializing in genomic tests that provide critical information for prostate cancer, bladder cancer, and other conditions. MDxHealth's core products include the ConfirmMDx test for prostate cancer and the UroMark test for bladder cancer, aimed at improving patient outcomes through personalized medicine.

How the Company Makes Money

MDxHealth generates revenue primarily through the sales of its diagnostic tests to healthcare providers and institutions. The company operates a laboratory that processes these tests and bills insurance companies, healthcare systems, or patients directly for the services rendered. Key revenue streams include payments from insurance reimbursements and direct sales of its assays. Additionally, MDxHealth engages in partnerships and collaborations with pharmaceutical companies and research institutions to enhance its product offerings and expand its market reach, which can also contribute to its earnings through licensing agreements and joint ventures.

MDxHealth Financial Statement Overview

Summary

MDxHealth shows strong revenue growth, but persistent negative margins, high leverage, and cash flow challenges indicate financial instability. The company's ability to manage debt and improve profitability is crucial.

Income Statement

MDxHealth's revenue has shown a strong upward trend with significant growth in recent years. However, the company continues to face challenges with profitability, as indicated by negative EBIT and net income. Despite the increase in gross profit, the net profit margin remains negative, reflecting ongoing financial pressure.

Balance Sheet

The balance sheet indicates a high level of debt relative to equity, leading to a concerning debt-to-equity ratio. The equity ratio is low, showing limited shareholder equity in comparison to total assets. These factors suggest a leveraged position, which can pose financial risks if not managed carefully.

Cash Flow

While MDxHealth's free cash flow remains negative, there is an improvement in cash flow from financing activities. The operating cash flow continues to be negative, indicating challenges in generating cash from operations. The company shows some resilience through financing activities, but sustained negative free cash flow is a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	74.21M	90.05M	70.19M	37.05M	22.24M	18.37M
Gross Profit	47.35M	55.14M	43.93M	19.22M	10.41M	7.85M
EBITDA	-5.05M	-21.70M	-30.47M	-36.39M	-23.99M	-23.79M
Net Income	-27.77M	-38.07M	-43.10M	-44.04M	-29.00M	-28.66M
Balance Sheet
Total Assets	140.63M	157.33M	129.13M	119.14M	75.07M	31.86M
Cash, Cash Equivalents and Short-Term Investments	32.81M	46.80M	22.38M	15.50M	58.50M	15.95M
Total Debt	84.01M	60.06M	41.27M	39.79M	15.56M	15.87M
Total Liabilities	141.52M	142.49M	121.92M	109.82M	28.17M	26.01M
Stockholders Equity	-883.00K	14.84M	7.21M	9.31M	46.90M	5.85M
Cash Flow
Free Cash Flow	-12.37M	-19.72M	-26.52M	-38.28M	-23.44M	-20.78M
Operating Cash Flow	-11.32M	-18.53M	-21.50M	-34.12M	-22.55M	-20.24M
Investing Cash Flow	-20.08M	-1.64M	-3.93M	-29.16M	-885.00K	-537.00K
Financing Cash Flow	45.31M	44.60M	32.28M	20.72M	66.50M	14.29M

MDxHealth Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDXH, the sentiment is Positive. The current price of 4.4 is above the 20-day moving average (MA) of 4.40, above the 50-day MA of 3.92, and above the 200-day MA of 2.44, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 56.37 is Neutral, neither overbought nor oversold. The STOCH value of 54.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MDXH.

MDxHealth Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XGN	58 Neutral	$258.54M	―	-87.94%	―	3.89%	7.92%
PRE	55 Neutral	$212.58M	―	-27.01%	―	123.15%	8.21%
BNR	52 Neutral	$86.58M	―	-22.66%	―	5.33%	75.52%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MDXH	48 Neutral	$202.44M	-5.03	―	―	22.56%	41.62%
SERA	46 Neutral	$122.56M	―	-44.24%	―	0.93%	13.99%
BDSX	41 Neutral	$52.96M	―	-219.68%	―	25.70%	39.25%

MDxHealth Corporate Events

MDxHealth Completes Acquisition of Exosome Diagnostics

On September 15, 2025, MDxHealth SA announced the completion of its acquisition of Exosome Diagnostics, Inc. from Bio-Techne Corporation, which includes the ExoDx Prostate test. The acquisition, initially agreed upon on August 5, 2025, involves a total consideration of $15 million, with $5 million paid in stock at closing and the remainder to be paid over the next four years. This strategic acquisition is expected to enhance MDxHealth’s market position in precision diagnostics and expand its offerings in the urologic cancer diagnostics sector.

MDxHealth Reports Strong Revenue Growth in 2025 Interim Results

MDxHealth SA reported a significant financial improvement in its 2025 Interim Report, with revenue increasing by 21% to $50.9 million and gross profit rising by 30% compared to the previous year. Despite a net loss of $16.6 million, the company reduced its operating loss by 54%, indicating a positive trajectory driven by higher revenues and gross profit. The company acknowledges ongoing net losses and cash outflows but remains optimistic about its ability to continue operations, citing sufficient cash reserves and potential access to additional funding.

MDxHealth Announces Q2 Results and Strategic Acquisition of Exosome Diagnostics

On August 5, 2025, MDxHealth SA announced its preliminary financial results for the second quarter of 2025, highlighting a 20% year-over-year revenue increase to $26.6 million and achieving a positive adjusted EBITDA of $1.4 million. The company also revealed a definitive agreement to acquire the Exosome Diagnostics business from Bio-Techne for $15 million, which is expected to accelerate revenue growth and enhance its leadership in prostate cancer diagnostics. This strategic acquisition is anticipated to contribute significantly to MDxHealth’s revenue and adjusted EBITDA starting in the fourth quarter of 2025.