MDxHealth Reports Preliminary Fourth Quarter and Full Year 2023 Revenues and Issues 2024 Revenue Guidance
08 Gennaio 2024 - 10:00PM
MDxHealth Reports Preliminary Fourth
Quarter and Full Year 2023 Revenues and Issues
2024 Revenue Guidance
IRVINE, CA, and HERSTAL,
BELGIUM – January 8, 2024 (GlobeNewswire) – MDxHealth SA
(NASDAQ: MDXH), a commercial-stage precision diagnostics company,
today reported preliminary fourth quarter and full year 2023
revenues and issued 2024 revenue guidance. The Company expects to
report fourth quarter and full year 2023 revenues of approximately
$19.4 and $70.2 million, respectively, with a year-end cash balance
of $22.4 million, which reflects $2.3 million of non-operating and
non-recurring cash use in the fourth quarter, primarily attributed
to the transition to a sole listing on NASDAQ. The Company is also
issuing 2024 revenue guidance of $79-81 million and confirms view
of adjusted EBITDA profitability in first half of 2025.
Michael K. McGarrity, CEO of mdxhealth,
commented: “We are pleased to report continued execution
on our growth strategy, with year-over-year revenue growth of
approximately 89% (or 42% when excluding GPS). We are confident
that the strength of our sales channel coupled with our expanded
menu offering to our urology customer base will continue to drive
sustainable growth. Based on our commitment to continued operating
discipline and commercial execution, we anticipate 2024 revenue of
$79-81 million, which would represent year-over-year revenue growth
of approximately 13-15%.”
About mdxhealth
Mdxhealth is a commercial-stage precision
diagnostics company that provides actionable molecular information
to personalize patient diagnosis and treatment. The Company’s tests
are based on proprietary genomic, epigenetic (methylation) and
other molecular technologies and assist physicians with the
diagnosis and prognosis of urologic cancers and other urologic
diseases. For more information, visit mdxhealth.com and follow us
on social media at: twitter.com/mdxhealth, facebook.com/mdxhealth
and linkedin.com/company/mdxhealth.
2024 Reporting Calendar
- March 6, 2024: 2023 FY results
- May 8, 2024: Q1-2024 financial
results and business update
- May 30, 2024: Annual general
shareholders’ meeting
- August 21, 2024: Q2-2024 financial
results and business update
- November 6, 2024: Q3-2024 financial
results and business update
Financial information and auditor
review
The preliminary unaudited financial data for the
year ended December 31, 2023 set forth above is derived from
preliminary internal financial reports. The Company has not yet
finalized its complete results of operations for the year ended
December 31, 2023. The Company and its auditors may identify items
that would require the Company to make adjustments, some of which
could be material, to the preliminary unaudited financial data set
forth above.
For more information:
info@mdxhealth.com
LifeSci Advisors (IR & PR)US: +1 949 271
9223
ir@mdxhealth.com
This press release contains forward-looking
statements and estimates with respect to the anticipated future
performance of MDxHealth and the market in which it operates, all
of which involve certain risks and uncertainties. These statements
are often, but are not always, made through the use of words or
phrases such as “potential,” “expect,” “will,” “goal,” “next,”
“potential,” “aim,” “explore,” “forward,” “future,” and “believes”
as well as similar expressions. Forward-looking statements
contained in this release include, but are not limited to,
statements regarding expected future operating results;
expectations for development of new or improved products and
services and their impact on patients; our strategies, positioning,
resources, capabilities and expectations for future events or
performance; and the anticipated benefits of our acquisitions,
including estimated synergies and other financial impacts. Such
statements and estimates are based on assumptions and assessments
of known and unknown risks, uncertainties and other factors, which
were deemed reasonable but may not prove to be correct. Actual
events are difficult to predict, may depend upon factors that are
beyond the company’s control, and may turn out to be materially
different. Examples of forward-looking statements include, among
others, statements we make regarding expected future operating
results, product development efforts, our strategies, positioning,
resources, capabilities and expectations for future events or
performance. Important factors that could cause actual results,
conditions and events to differ materially from those indicated in
the forward-looking statements include, among others, the
following: our ability to successfully and profitably market our
products; the acceptance of our products and services by healthcare
providers; our ability to achieve and maintain adequate levels of
coverage or reimbursement for our current and future solutions we
commercialize or may seek to commercialize; the willingness of
health insurance companies and other payers to cover our products
and services and adequately reimburse us for such products and
services; our ability to obtain and maintain regulatory approvals
and comply with applicable regulations; timing, progress and
results of our research and development programs; the period over
which we estimate our existing cash will be sufficient to fund our
future operating expenses and capital expenditure requirements; the
possibility that the anticipated benefits from our business
acquisitions like our acquisition of the Oncotype DX® GPS prostate
cancer business will not be realized in full or at all or may take
longer to realize than expected; and the amount and nature of
competition for our products and services. Other important risks
and uncertainties are described in the Risk Factors sections of our
most recent Annual Report on Form 20-F and in our other reports
filed with the Securities and Exchange Commission. MDxHealth
expressly disclaims any obligation to update any such
forward-looking statements in this release to reflect any change in
its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based
unless required by law or regulation. This press release does not
constitute an offer or invitation for the sale or purchase of
securities or assets of MDxHealth in any jurisdiction. No
securities of MDxHealth may be offered or sold within the United
States without registration under the U.S. Securities Act of 1933,
as amended, or in compliance with an exemption therefrom, and in
accordance with any applicable U.S. securities laws.
Non-IFRS Measures. The
Company’s reference to adjusted EBITDA is a forward-looking
statement about the Company’s future financial performance, and is
a non-IFRS measure that excludes a number of expense items that are
included in net loss, including adjustments for items like
stock-based compensation, acquisition and integration costs,
impairment of long-lived assets, fair-value adjustment, loan
extinguishment costs, as well as other non-operating, non-recurring
expenses that are difficult to predict for future periods because
the nature of the adjustments pertain to events that have not yet
occurred. As a result, positive adjusted EBITDA may be achieved
while a significant net loss persists. Non-IFRS financial
information has limitations as an analytical tool and should not be
considered in isolation or as a substitute for financial
information presented in accordance with IFRS, and such information
is referenced for supplemental information purposes only.
Management does not forecast many of the excluded items for
internal use, as these are difficult to predict for future periods
because the nature of the adjustments pertain to events that have
not yet occurred. Information reconciling forward-looking non-IFRS
measures to IFRS measures is therefore not available without
unreasonable effort, and is not provided. The occurrence, timing,
and amount of any of the items excluded from IFRS to calculate
non-IFRS measures could significantly impact the Company's IFRS
results.
NOTE: The mdxhealth logo,
mdxhealth, Confirm mdx, Select mdx, Resolve mdx, Genomic Prostate
Score, GPS and Monitor mdx are trademarks or registered trademarks
of MDxHealth SA. The GPS test was formerly known as and is
frequently referenced in guidelines, coverage policies,
reimbursement decisions, manuscripts and other literature as
Oncotype DX Prostate, Oncotype DX GPS, Oncotype DX Genomic Prostate
Score, and Oncotype Dx Prostate Cancer Assay, among others. The
Oncotype DX trademark, and all other trademarks and service marks,
are the property of their respective owners.
Grafico Azioni MDxHealth (EU:MDXH)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni MDxHealth (EU:MDXH)
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Da Giu 2023 a Giu 2024