KBC Securities - MDXHEALTH (MDXH) mdxhealth FIRST LOOK: FY23 Highlights Point to Solid Growth

Report

KBC Securities

Thomas Vranken

mdxhealth FIRST LOOK: FY23 Highlights Point to Solid Growth

mdxhealth provides insight into key FY23 parameters, with revenues landing at $ 70.2m (KBCSe: $ 70.2m) and YE cash at $ 22.4m (KBCSe: $ 20.3m. Revenue guidance for FY24 is set at a narrow range of $ 79-81m, implying a 13-15% y/y increase. We believe that mdxhealth is well-positioned for growth in 2024 now that all reimbursement phantoms with Select mdx have been resolved and the GPS and Resolve tests are ramping up, hence we maintain our $ 7.7 TP and Buy rating.

09/01/2024 1 EN

Underlying

MDXHEALTH

See profile

BE0974461940 Euronext Brussels Belgium

Provider

KBC Securities

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

See profile

Analysts

Thomas Vranken

Other Reports on these Companies

KBC Securities

Morning Notes : AGFB BB, DSFIR NA, IVA FP, MDXH BB

: AGFB BB, DSFIR NA, IVA FP, MDXH BB

February 17, 2026 February 17, 2026 1 EN

KBC Securities

mdxhealth ExoDx boosts 2026 growth expectations

Following mdxhealth preliminary 2025 full-year sales and 2026 sales guidance in the $ 137-140m range, we update our model and raise 2026 revenue estimates to $ 139.9m, driven by ExoDx and synergy potential with the GPS test. The ExoDx acquisition should ensure the company's high growth profile, and the increased scale should allow for further operational leverage. That said, we note that the company will likely require additional funding to cover cash outflow obligations. Given the high growth outlook and operational leverage potential, we reiterate our BUY and raise our TP to $ 6 from $ 4.2.

February 17, 2026 February 17, 2026 1 EN

GlobeNewsWire

Mdxhealth to Present Fourth Quarter and Full Year 2025 Financial Results and Corporate Update on February 26

Mdxhealth to Present Fourth Quarter and Full Year 2025 Financial Results and Corporate Update on February 26 Mdxhealth to Present Fourth Quarter and Full Year 2025 Financial Results and Corporate Update on February 26 Company to Host Conference Call with Live Q&A, February 26, 2026, at 4:30pm ET / 22:30 CET IRVINE, California – February 12, 2026 () – MDxHealth SA (NASDAQ: MDXH), a leading precision diagnostics company, today announced it will release its financial results for the fourth quarter and full year ended December 31, 2025, after market close on Thursday, February 26, 2026. Title...

February 12, 2026 February 12, 2026 1 EN

Zealand Pharma Positive phase 1a data for Kv1.3 channel blocker

Zealand Pharma reported positive phase 1a topline results for the Kv1.3 channel blocker ZP9830. Single ascending doses of ZP9830 were well tolerated, with no serious or severe adverse events or dose-limiting safety findings, and PK/PD profile was in-line with predictions. We view these data as de-risking for the program and look forward to the MAD data expected in 2H26, which should provide insight into extended exposure and additional proof of mechanism. Given the selective expression of Kv1.3 on effector memory T cells, we believe Kv1.3 blockers have pipeline-in-a-product potential in the at...

15h / 36m 15h / 36m 1 EN

Guy Sips ... (+6)

Guy Sips
Lynn Hautekeete
Mathijs Geerts Danau
Thibault Leneeuw
Thomas Couvreur
Wim Hoste

Morning Notes : AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZEAL DC

: AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZEAL DC

15h / 43m 15h / 43m 1 EN

Guy Sips

Guy Sips

Dynamic Top Pick List update Removing Aedifica

We remove Aedifica from our Dynamic Top Pick list after we updated our model after the FY25 reporting. Since we upgraded Aedifica early November from Hold to Buy, it outperformed the EPRA developed index by 15,1%. We expect the momentum to continue on a positive outcome from the initial exchange period and a potential MSCI inclusion. However we see limited upside to our € 80,0 fair value so we cut our recommendation from BUY to ACCUMULATE.

15h / 58m 15h / 58m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

mdxhealth FIRST LOOK: FY23 Highlights Point to Solid Growth

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

Morning Notes : AGFB BB, DSFIR NA, IVA FP, MDXH BB

mdxhealth ExoDx boosts 2026 growth expectations

Mdxhealth to Present Fourth Quarter and Full Year 2025 Financial Results and Corporate Update on February 26

Zealand Pharma Positive phase 1a data for Kv1.3 channel blocker

Morning Notes : AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZEAL DC

Dynamic Top Pick List update Removing Aedifica

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe