mdxhealth FIRST LOOK: Solid FY24 results, adj. EBITDA profitability 1H25 confirmed

In line with previously reported highlights, mdxhealth's FY24 results feature a strong +28% y/y uptake in revenues, with particular uptake in tissue-based test volumes in Q4. Management reiterates its $ 108-110m FY25 revenue guidance and stresses operating leverage as it confirms adjusted EBITDA profitability by 1H25. In line with the ambitious yet realistic FY25 guidance, we reiterate our $ 4.2 TP and Buy rating.