mdxhealth 1Q24 update reveal strong rev growth and refinanced debt facility

mdxhealth's 1Q24 results feature a continued strong uptake in revenues to $ 19.8m (+35% y/y), supported by 16% growth in prostate test volume. The company expects the new germline test to start contributing revenue as of Q2, and on the back of strong growth prospects across the menu raises its FY24 rev guidance to $ 83-85m (prev. $ 79-81m). mdxhealth also refinanced its existing debt through a new $ 100m facility with OrbiMed, replacing the existing Innovatus loan and bringing in $ 20m new cash. We maintain our $ 6 TP and re-iterate our Buy rating.