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Mdxhealth Reports Third Quarter 2026 Financial Results

MDXH
  • MDxHealth SA reported third-quarter 2026 financial results for the period ended September 30, 2026, with revenue of $22.7 million remaining flat compared to the prior year.
  • The company reported an operating loss of $8.1 million \& a net loss of $12.3 million, representing increases of 86% \& 26% respectively over the third quarter of 2025.
  • Adjusted EBITDA for the quarter was a loss of $6.3 million, widening from a loss of $0.9 million in the same period last year.
  • Revenue composition shifted, with tissue-based tests accounting for 79% of revenue compared to 92% in the prior year, while liquid-based ExoDx volumes rose to 11,792 versus 4,600 for Select mdx in 2025.
  • Gross margins declined to 61.8% from 65.0% in the prior year, primarily attributed to changes in test mix.
  • The increase in operating \& net losses was primarily driven by higher operating expenses related to the ExoDx acquisition completed in September 2025.
  • CEO Michael K. McGarrity announced a commercial restructuring to address sales turnover, eliminating the Chief Commercial Officer role \& splitting sales \& marketing functions to report directly to him.
  • The company expects to complete rebuilding its sales organization by the end of the fourth quarter 2026, positioning for growth return in 2027.
  • Strategic initiatives include advancing the PROTECT study with the University of Oxford \& rolling out AI initiatives in the first half of 2027.
  • The Resolve mdx business was discontinued \& classified as a discontinued operation, with all financial metrics reflecting only continuing core operations.
  • Period-end cash \& cash equivalents balance stood at $31.7 million as of September 30, 2026.
  • A conference call with Q\&A featuring the CEO \& Interim CFO is scheduled for 4:30 PM EST on November 12, 2026.
Company
mdxhealth
Keywords
Nasdaq:MDXH, mdxhealth