KBC Securities - MDXHEALTH (MDXH) mdxhealth FIRST LOOK: 1H24 results continue impressive topline growth

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KBC Securities

Thomas Vranken

mdxhealth FIRST LOOK: 1H24 results continue impressive topline growth

In line with previously reported preliminary results, mdxhealth's 1H24 results feature a strong +32% y/y uptake in revenues, while cash burn gradually comes down. Management reiterates its recently upped $ 85-87m FY24 revenue guidance and it still foresees adjusted EBITDA profitability by 1H25. We see mdxhealth as a uniquely positioned player in the urology diagnostics space, and reiterate a $ 6.0 TP and Buy rating.

22/08/2024 1 EN

Underlying

MDXHEALTH

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BE0974461940 Euronext Brussels Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Thomas Vranken

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mdxhealth FIRST LOOK: 1H24 results continue impressive topline growth

We are a financial services provider for several types of professional clients, each with distinct needs.

Morning Notes : ACKB BB, MDXH BB, RECT BB

mdxhealth Strong growth outlook (Model Update)

Morning Notes : AGN NA, DECB BB, KIN BB, MDXH BB, TESB BB, BTLS BB, ALFEN NA

VGP EPRA property tour to Berlin Ludwigsfelde

MaaT Pharma 1H24 update extends runway into 2Q25, MaaT013 phase 3 topline in 4Q24

Morning Notes : BARb BB, OPTI BB, GIMBb BB, VGP BB, MAAT FP

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