The following is a summary of the MDxHealth SA (MDXH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• MDxHealth reported a Q4 revenue of $19.4 million, a 50% increase compared to Q4 2022, and the full-year revenue was $70.2 million, an 89% increase year-over-year.

• Gross profit for Q4 was $12.7 million, a 75% increase from Q3 2022, with gross margins improving to 65.3% from 56% in Q4 2022. Similarly, for FY 2023, the gross profit was $43.9 million with an improved gross margin of 62.6%.

• The company managed to reduce its operating loss for Q4 to $6.3 million, a 30% reduction compared to the previous year, and the full-year operating loss was reduced 28% to $27.3 million.

• Cash equivalents by the end of 2023 were $22.4 million, and the company projects a revenue between $79 million and $81 million for 2024.

Business Progress:

• MDxHealth successfully expanded their test menu, establishing cross-selling of complementary diagnostic solutions, and broadened payer coverage.

• Over the last 18 months, the company grew its offering from one to four revenue-generating tests and all of their prostate cancer tests are now covered by Medicare.

• The company is considering various inbound opportunities for partnerships, mergers, acquisitions, and distribution.

• Additionally, the company plans to expand into the sector of patient monitoring for those on annual active surveillance with their Monitor project.

• The company will continue to focus on controlling costs, keeping operating expenses at bay while ensuring sustainable growth.

More details: MDxHealth IR

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