MDxHealth (MDXH) AI Stock Analysis

• Market Cap: $235.61M
• Dividend Yield: N/A
• Average Volume (3M): 176.97K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.23
• Revenue Growth: 21.68%
• EPS Growth: 58.30%
• Country: US
• Employees: 312
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -0.16
• 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: 0.68
• Enterprise Value/Revenue: 1.56
• Enterprise Value/Gross Profit: 2.42
• Enterprise Value/Ebitda: -52.93
• 1Y Price Target: $6.00
• Price Target Upside: 34.83% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $3.00 ▼(-32.58% Downside)

MDxHealth's overall stock score is primarily impacted by its financial performance and valuation challenges. Despite positive developments in revenue growth and strategic acquisitions, the company's financial instability and poor valuation metrics weigh heavily on its score. The earnings call provided some optimism with operational improvements, but significant risks remain.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, enhancing long-term business sustainability.

Successful Acquisition

The acquisition of ExoDx strengthens MDxHealth’s market position and enhances cross-selling opportunities, supporting strategic growth.

Gross Margin Improvement

Improved gross margins reflect operational efficiencies and effective cost management, contributing to better profitability prospects.

Negative Factors

Financial Leverage

High leverage and negative equity indicate financial instability, posing risks to long-term solvency and financial health.

Cash Flow Challenges

Negative cash flows highlight liquidity issues, potentially limiting the company's ability to fund operations and growth initiatives.

Profitability Challenges

Ongoing profitability issues could hinder the company's ability to reinvest in growth and maintain competitive positioning.

MDxHealth Business Overview & Revenue Model

Company Description

MDxHealth (MDXH) is a global leader in molecular diagnostics, specializing in innovative tests that provide information to help personalize cancer treatment. The company operates primarily in the healthcare sector, focusing on urological cancers, particularly prostate cancer. Its core products include the ConfirmMDx test, which helps clinicians determine the presence of cancer in patients with a history of negative biopsies, and the SelectMDx test, which aids in the identification of patients at risk for aggressive prostate cancer.

How the Company Makes Money

MDxHealth generates revenue primarily through the sale of its diagnostic tests to healthcare providers, hospitals, and laboratories. The company operates on a fee-for-service model, where it charges for each test performed. Additionally, MDxHealth may enter into partnerships with pharmaceutical companies for the development of companion diagnostics, which can create additional revenue streams. The company also benefits from reimbursement from insurance providers for its testing services, enhancing its financial stability. Key partnerships and collaborations in the healthcare space further bolster its market presence and revenue potential.

MDxHealth Financial Statement Overview

Summary

MDxHealth shows revenue growth and a strong gross profit margin, but faces significant profitability and leverage challenges. The negative equity position and high debt levels raise concerns about financial stability. Cash flow issues further compound the company's financial difficulties, highlighting the need for strategic improvements to enhance profitability and reduce financial risk.

Income Statement

MDxHealth shows a consistent revenue growth trend, with a TTM growth rate of 4.16%. However, profitability remains a challenge, as evidenced by negative net profit margins and EBIT margins. The gross profit margin is relatively strong at 63.53% TTM, indicating efficient cost management. Despite revenue growth, the company struggles to convert sales into profits, impacting overall financial health.

Balance Sheet

The balance sheet reveals significant financial leverage, with a negative equity position in the TTM period, leading to a concerning debt-to-equity ratio. The negative return on equity highlights ongoing profitability challenges. The equity ratio is also negative, indicating potential solvency issues. These factors suggest financial instability and high risk.

Cash Flow

Cash flow analysis shows a negative operating cash flow and free cash flow, with a significant decline in free cash flow growth in the TTM period. The free cash flow to net income ratio is positive, suggesting some ability to cover net losses with cash flow, but overall cash flow remains weak, indicating liquidity challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	103.07M	90.05M	70.19M	37.05M	22.24M	18.46M
Gross Profit	66.46M	55.14M	43.93M	19.22M	10.56M	8.04M
EBITDA	-3.03M	-22.02M	-30.47M	-36.39M	-24.09M	-23.98M
Net Income	-31.43M	-38.07M	-43.10M	-44.04M	-29.00M	-28.66M
Balance Sheet
Total Assets	154.28M	157.33M	129.13M	119.14M	75.07M	31.86M
Cash, Cash Equivalents and Short-Term Investments	32.01M	46.80M	22.38M	15.60M	58.59M	15.95M
Total Debt	87.91M	60.06M	41.27M	39.79M	15.56M	15.87M
Total Liabilities	162.54M	142.49M	121.92M	109.82M	28.17M	26.01M
Stockholders Equity	-8.26M	14.84M	7.21M	9.31M	46.90M	5.85M
Cash Flow
Free Cash Flow	-6.98M	-20.69M	-26.52M	-38.28M	-23.44M	-20.78M
Operating Cash Flow	-5.68M	-18.53M	-21.50M	-34.12M	-22.55M	-20.24M
Investing Cash Flow	-20.58M	-1.64M	-3.93M	-29.04M	-885.00K	-537.00K
Financing Cash Flow	9.00M	44.60M	32.28M	20.72M	66.50M	14.29M

MDxHealth Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDXH, the sentiment is Negative. The current price of 4.45 is above the 20-day moving average (MA) of 4.35, above the 50-day MA of 4.30, and above the 200-day MA of 2.67, indicating a neutral trend. The MACD of -0.25 indicates Positive momentum. The RSI at 26.53 is Positive, neither overbought nor oversold. The STOCH value of 16.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MDXH.

MDxHealth Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BNR	58 Neutral	$121.79M	-6.04	-22.66%	―	5.33%	75.52%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BDSX	46 Neutral	$60.46M	-1.42	-302.55%	―	22.29%	31.93%
MDXH	44 Neutral	$235.61M	-5.44	-720.01%	―	21.68%	58.30%
PRE	42 Neutral	$179.28M	―	-23.93%	―	159.45%	8.59%
SERA	41 Neutral	$118.75M	―	-47.69%	―	1.06%	22.41%
XGN	38 Underperform	$179.27M	―	-122.81%	―	14.08%	1.34%

MDxHealth Corporate Events

Mdxhealth Reports Strong Q3 Growth and Strategic Acquisition

On November 12, 2025, Mdxhealth reported an 18% increase in Q3 revenues to $27.4 million and achieved an adjusted EBITDA profitability of $1.0 million. The company highlighted the strategic acquisition of Exosome Diagnostics from Bio-Techne on September 15, 2025, which is expected to enhance its market positioning by integrating the ExoDx business. Despite suspending its germline product introduction, Mdxhealth reaffirmed its full-year revenue guidance, anticipating growth to meet or exceed 20%. The acquisition and expansion of its sales organization are seen as significant steps towards capitalizing on cross-selling opportunities and strengthening its precision diagnostics offerings.

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.