FX.co ★ MDxHealth Q2 Prelim Revenue Improves; Boosts FY24 Revenue Outlook Above View

MDxHealth SA (MDXH), a precision diagnostics company operating at the commercial stage, announced on Monday a significant increase in preliminary revenue for both the second quarter and the first half of the year.

Furthermore, the company has revised its annual revenue forecast upwards, surpassing analysts' expectations.

For the second quarter, the Belgian firm anticipates revenue of approximately $22.2 million, marking a 32% increase from the same period the previous year.

In comparison, an average of five analysts surveyed by Thomson Reuters predicted the company would achieve revenues of $20.21 million for the quarter. It is important to note that analysts' estimates usually exclude special items.

For the first half of the year, MDxHealth projects revenue of about $42 million, reflecting a 34% rise from the previous year.

Looking forward, the company now expects full-year revenue to be in the range of $85 million to $87 million, an increase from the prior forecast of $83 million to $85 million.

Analysts on Wall Street are currently estimating the company to generate $84.08 million in revenue for the year.