MDxHealth Reports Strong FY25 Revenue Growth, Significant EBITDA Improvement, Reaffirms Robust 2026 Guidance
Summary
MDxHealth reported strong 20% revenue growth for FY25 and a 92% improvement in Adjusted EBITDA loss, while reaffirming its robust 2026 revenue guidance and a target of 10% Adjusted EBITDA margin by year-end.
Key Events
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Strong Full-Year 2025 Financial Results
MDxHealth reported full-year 2025 revenue of $107.9 million, a 20% increase over 2024, and fourth-quarter revenue of $29.5 million, up 19% year-over-year. This follows the preliminary revenue figures reported on 2026-01-12.
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Significant Adjusted EBITDA Improvement
The company achieved a 92% improvement in Adjusted EBITDA for the full year 2025, reducing the loss to ($1.1) million compared to ($14.7) million in 2024, indicating strong progress towards profitability.
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Robust 2026 Guidance Reaffirmed
MDxHealth maintained its previously issued 2026 revenue guidance of $137-140 million, representing 27-30% growth, and confirmed its view of driving progress toward a 10% Adjusted EBITDA margin exiting 2026.
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Interim CFO Appointed
Ron Kalfus has been appointed interim Chief Financial Officer, effective February 26, 2026.
Analysis
MDxHealth SA reported strong financial results for the full year 2025, with revenue increasing 20% to $107.9 million. The company also demonstrated significant progress towards profitability, improving its Adjusted EBITDA loss by 92% to ($1.1) million for the full year. This positive momentum is reinforced by the reaffirmation of robust 2026 revenue guidance of $137-140 million, representing 27-30% growth, and a target of a 10% Adjusted EBITDA margin exiting 2026. While cash and cash equivalents decreased to $29.0 million, the improved operational performance and clear path to profitability outlined in the guidance are key positive signals for investors. The appointment of an interim CFO is a secondary development.
At the time of this filing, MDXH was trading at $3.45 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $175.7M. The 52-week trading range was $1.35 to $5.33. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.