KBC Securities - MDXHEALTH (MDXH) mdxhealth FIRST LOOK: 3Q24 results come with upgraded FY24 guidance

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KBC Securities

Jacob Mekhael

mdxhealth FIRST LOOK: 3Q24 results come with upgraded FY24 guidance

mdxhealth reported 3Q24 revenue growth of 21% y/y, while management upgraded FY24 guidance to $ 87-89m (previously $ 85-87m) reflecting increased confidence in utilisation from healthcare providers. The goal to reach positive adjusted EBITDA by 1H25 remains on track, and now starts to come into view, while management guided for 20% topline growth for FY25. We reiterate our $ 4.2 TP and Buy rating.

07/11/2024 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

Jacob Mekhael

Other Reports on these Companies

KBC Securities

Morning Notes : ABN NA, AD NA, HOMI BB, MDXH BB, NN NA, SEQUA BB, ONWD BB, MRUS US

: ABN NA, AD NA, HOMI BB, MDXH BB, NN NA, SEQUA BB, ONWD BB, MRUS US

August 6, 2025 August 6, 2025 1 EN

GlobeNewsWire

Mdxhealth Reports Preliminary Second Quarter 2025 Results, Reaches Positive Adjusted EBITDA, and Announces Acquisition of Exosome Diagnostics Business from Bio-Techne

Mdxhealth Reports Preliminary Second Quarter 2025 Results, Reaches Positive Adjusted EBITDA, and Announces Acquisition of Exosome Diagnostics Business from Bio-Techne Mdxhealth Reports Preliminary Second Quarter 2025 Results, Reaches Positive Adjusted EBITDA, and Announces Acquisition of Exosome Diagnostics Business from Bio-Techne Year-over-year Q2 revenues increased by 20% to $26.6 millionAdjusted EBITDA profitability of $1.4 million for Q2 Agreement to acquire ExoDx Business from Bio-Techne for $15 million in cash and stock over 5 years; acquisition expected to accelerate revenue growt...

August 5, 2025 August 5, 2025 1 EN

KBC Securities

Morning Notes : COFB BB, HAL NA, MDXH BB

: COFB BB, HAL NA, MDXH BB

July 4, 2025 July 4, 2025 1 EN

NX Filtration FIRST LOOK: 1H25 below expectations but FY25 guidance reiterated

1H25 revenues landed at €6.5m growing 12% y/y (26% h/h) below our €8mE. Gross margins kept up well at a high 60%. Ongoing cost efficiencies show off with FTE's down to 154 vs. 169 at year end. EBITDA stood at €-8.2m (vs. €-6.4m in 1H24 and our €-6.9mE). Guidance remained unchanged calling for FY25 revenues to grow in the 50-70% range. We are currently at the mid point of this range. In order to reach this forecast, 2H25 revenues should grow >115% y/y and >70% sequentially (h/h). We remain cautious for now, as history has shown that reliably guiding revenues is challenging. Hold and €3.1 TP rei...

13h / 22m 13h / 22m 1 EN

Guy Sips ... (+6)

Guy Sips
Jacob Mekhael
Kristof Samoy
Thibault Leneeuw
Thomas Couvreur
Wim Lewi

Morning Notes : AGS BB, AGFB BB, IVA FP, RET BB, TWEKA NA, VAN BB, NXFIL NA, IMCD NA

: AGS BB, AGFB BB, IVA FP, RET BB, TWEKA NA, VAN BB, NXFIL NA, IMCD NA

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Wim Lewi

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Retail Estates Leen Bakker gets court protection in Belgium

Leen Bakker België NV is currently under judicial protection as of 14th August 2025 and seeks buyers for its 44 stores to avoid closure. We believe this will have a limited impact on Retail Estates that leases 11 retail properties to Leen Bakker in BE. This makes up 1.39% of the rental income, while there are no arrears. The chain is owned by private equity company Gilde that bought it from Blokker Holding in 2017 and merged it with Kwantum. Both are related to home furnishing and rely on out-of-town showrooms. We believe that the competition in this segment has increased with new formats like...

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mdxhealth FIRST LOOK: 3Q24 results come with upgraded FY24 guidance

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

Morning Notes : ABN NA, AD NA, HOMI BB, MDXH BB, NN NA, SEQUA BB, ONWD BB, MRUS US

Mdxhealth Reports Preliminary Second Quarter 2025 Results, Reaches Positive Adjusted EBITDA, and Announces Acquisition of Exosome Diagnostics Business from Bio-Techne

Morning Notes : COFB BB, HAL NA, MDXH BB

NX Filtration FIRST LOOK: 1H25 below expectations but FY25 guidance reiterated

Morning Notes : AGS BB, AGFB BB, IVA FP, RET BB, TWEKA NA, VAN BB, NXFIL NA, IMCD NA

Retail Estates Leen Bakker gets court protection in Belgium

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