MDxHealth (MDXH) AI Stock Analysis

• Market Cap: $189.57M
• Dividend Yield: N/A
• Average Volume (3M): 163.48K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.18
• Revenue Growth: 22.56%
• EPS Growth: 41.62%
• Country: US
• Employees: 312
• Sector: Healthcare
• Sector Strength: 51
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -0.15
• Shares Outstanding: 49,497,334
• 10 Day Avg. Volume: 162,683
• 30 Day Avg. Volume: 163,482
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 2.30
• Enterprise Value/Gross Profit: 3.73
• Enterprise Value/Ebitda: -14.58
• 1Y Price Target: $6.00
• Price Target Upside: 62.60% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6

• Rating: 57 Neutral
• Price Target: $4.00 ▲(8.40% Upside)

MDxHealth's stock score is primarily influenced by strong technical momentum, which is offset by financial instability and poor valuation metrics. The company's growth potential is evident, but financial health remains a concern.

Positive Factors

Revenue Growth

Strong revenue growth indicates expanding market reach and increased adoption of MDxHealth's diagnostic tests, supporting long-term business sustainability.

Product Innovation

MDxHealth's focus on innovation in cancer diagnostics positions it well in the healthcare sector, potentially driving future growth and competitive advantage.

Strategic Partnerships

Strategic partnerships enhance MDxHealth's product offerings and market reach, providing additional revenue streams and strengthening its competitive position.

Negative Factors

Negative Cash Flow

Sustained negative cash flow from operations could hinder MDxHealth's ability to fund its operations and invest in future growth, posing a risk to long-term viability.

High Leverage

High leverage increases financial risk, potentially constraining MDxHealth's operational flexibility and ability to manage economic downturns.

Profitability Challenges

Ongoing profitability challenges may limit MDxHealth's ability to reinvest in growth opportunities and could impact long-term financial health.

MDxHealth Business Overview & Revenue Model

Company Description

MDxHealth SA, a commercial-stage precision diagnostics company, provides urologic solutions in the United States, the Netherlands, Belgium, Spain, Poland, Italy, rest of European Union, and internationally. Its novel prostate cancer genomic testing solutions are SelectMDx, a non-invasive urine test; and ConfirmMDx, an epigenetic test, which provide physicians with a clinical pathway to identify clinically prostate cancer while minimizing the use of invasive procedures that are prone to complications. The company was formerly known as OncoMethylome Sciences SA and changed its name to MDxHealth SA in October 2010. MDxHealth SA was incorporated in 2003 and is headquartered in Herstal, Belgium.

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 struggles with profitability, high leverage, and negative cash flow. The financial instability is a significant concern despite the growth potential.

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	69.77M	90.05M	70.19M	37.05M	22.24M	18.37M
Gross Profit	43.06M	55.14M	43.93M	19.22M	10.41M	7.85M
EBITDA	-11.02M	-21.70M	-30.47M	-36.39M	-23.99M	-23.79M
Net Income	-31.93M	-38.07M	-43.10M	-50.19M	-30.88M	-30.01M
Balance Sheet
Total Assets	174.83M	157.33M	129.13M	119.14M	75.07M	31.86M
Cash, Cash Equivalents and Short-Term Investments	65.67M	46.80M	22.38M	15.50M	58.50M	15.95M
Total Debt	83.98M	60.06M	41.27M	39.79M	15.56M	15.87M
Total Liabilities	168.87M	142.49M	121.92M	109.82M	28.17M	26.01M
Stockholders Equity	5.97M	14.84M	7.21M	9.31M	46.90M	5.85M
Cash Flow
Free Cash Flow	-15.68M	-19.72M	-26.52M	-38.28M	-23.44M	-20.78M
Operating Cash Flow	-14.00M	-18.53M	-21.50M	-34.12M	-22.55M	-20.24M
Investing Cash Flow	-1.26M	-1.64M	-3.93M	-29.16M	-885.00K	-537.00K
Financing Cash Flow	68.91M	44.60M	32.28M	20.84M	66.50M	14.29M

MDxHealth Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.69
• 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 3.69 is above the 20-day moving average (MA) of 3.41, above the 50-day MA of 2.83, and above the 200-day MA of 2.13, indicating a bullish trend. The MACD of 0.25 indicates Positive momentum. The RSI at 67.32 is Neutral, neither overbought nor oversold. The STOCH value of 51.86 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	61 Neutral	$220.04M	―	-87.94%	―	3.89%	7.92%
MDXH	57 Neutral	$189.57M	―	-1552.23%	―	22.56%	41.62%
PRE	54 Neutral	$115.48M	―	-26.74%	―	85.33%	30.70%
Sector *	51 Neutral	$8.02B	-0.31	-43.38%	2.24%	22.31%	-2.14%
SERA	49 Neutral	$116.85M	―	-44.24%	―	0.93%	13.99%
VNRX	47 Neutral	$67.53M	―	138.92%	―	35.10%	39.15%
BDSX	42 Neutral	$60.56M	―	-219.68%	―	25.70%	39.23%

MDxHealth Corporate Events

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.

MDxHealth Announces Leadership Changes with New Board Appointment and CFO Resignation

On July 3, 2025, MDxHealth announced the appointment of Michael Holder as the new Chair of the Audit Committee on its Board of Directors, succeeding Regine Slagmulder. Holder brings over 30 years of diverse experience in biotech, medtech, and pharma industries, enhancing the company’s strategic and financial expertise. Additionally, the company disclosed the resignation of CFO Ron Kalfus, effective July 30, 2025, with Scott McMahan stepping in as interim CFO. These leadership changes are expected to bolster MDxHealth’s growth and operational focus in the urology market.