MDxHealth SA Q3 FY2024 earnings call

• Third quarter marked solid performance with 21% year-over-year revenue growth, and adjusted for prior year backlog, 27% growth. • Raised 2024 revenue guidance from $85-87 million to $87-89 million, reflecting confidence in diagnostic value and increasing utilization. • Raised $40 million in gross proceeds in September, with pro forma end-of-quarter cash at $53.5 million, anticipating adjusted EBITDA positivity in the first half of 2025. • Focus on execution with sales team driving unit adoption and market access team driving coverage, leveraging clinical value for urologists and pathologists.

In the third quarter of 2024, MDX Health reported revenue of $23.3 million, a 21% increase from the prior year. The tissue-based test segment, including Confirm MDX and GPS, had over 10,000 tests for the quarter, a 36% increase year-over-year. The liquid-based test segment, including Select NDX, Resolve NDX, and Germline, had over 12,000 tests, a 24% increase year-over-year. Both segments contributed to the overall revenue growth.

• Raised 2024 revenue guidance to $87-$89 million, representing over 25% year-over-year growth. • Confident in generating at least 20% year-over-year revenue growth for the full year 2025. • Anticipates reaching adjusted EBITDA positivity in the first half of 2025.

• Forward-looking statements are subject to inherent risks and uncertainties detailed in the Risk Factors section of the company's SEC filings, specifically in the annual report Form 20-F.

Q: How to think about 20%+ revenue growth outlook for next year across segments?

A: Balanced growth expected, with tissue-based tests carrying a significant portion, but liquid-based and germline also contributing as they mature.

Q: Gross margin assumptions for positive EBITDA in H1 2025?

A: Confidence in revenue growth and operating discipline with OPEX, expecting gross margin to trend positively on a quarter-over-quarter basis.