MDxHealth SA (CHIX:MDXHb)

€ 2.84 0 (0%) Market Cap: 94.72 Mil Enterprise Value: 102.00 Mil PE Ratio: 0 PB Ratio: 0 GF Score: 71/100

Q2 2024 MDxHealth SA Earnings Call Transcript

Aug 21, 2024 / 08:30PM GMT

Transcript

Key Points

Positve

Revenue growth of 32% in Q2 2024 compared to the same period in 2023.
Total billable test volume increased by 31%, with approximately 21,000 tests conducted.
Gross profit increased by 33% to $13.3 million, with gross margins improving to 60%.
Expansion of the test menu, including tissue-based and liquid-based tests, contributing to growth.
Raised 2024 revenue guidance to $85 million to $87 million, representing over 20% year-over-year growth.

Negative

Operating loss of $7.4 million, though reduced from $7.7 million in Q2 2023.
Cash and cash equivalents decreased to $21.3 million as of June 30, 2024.
Integration of the GPS test post-acquisition from Exact Sciences was complex and time-consuming.
Gross margin improvement was modest, only increasing from 59.7% to 60%.
Potential seasonality and variability in Q3 performance due to patient flow and staffing.

Operator

Greetings and welcome to the MDxHealth second-quarter 2024 earnings call. (Operator Instructions) As a reminder, this call is being recorded.

Before we begin, I would like to remind everyone that we will make forward-looking statements during today's call. Whether in prepared remarks or during the Q&A session, these forward-looking statements are subject to inherent risks and uncertainties. These risks and uncertainties are detailed in the Risk Factors section of our filings with the Securities and Exchange Commission, specifically in the company's annual report on Form 10 -- on Form 20-F.

I would now like to turn the call over to Michael McGarity, CEO. Thank you, Michael. You may begin.

Michael McGarrity

MDxHealth SA - Chief Executive Officer, Director

Thanks, Paul, and thank you all for joining us for our second-quarter 2024 earnings conference call for MDxHealth. With me today is Ron Kalfus, Chief Financial Officer.

I am pleased to report that our business continued to generate strong financial performance in the second

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