MDxHealth reported preliminary second quarter 2025 revenues of $26.6 million, representing a 20% increase year-over-year. This marks the company's 17th consecutive quarter of 20% or greater revenue growth. Gross margins for the quarter improved to 66.0% from 60.0% in the prior year, primarily attributed to test mix.
A significant financial milestone was reached as MDxHealth achieved positive adjusted EBITDA of $1.4 million for Q2 2025, aligning with its guidance provided since early 2024. This represents a $6.2 million improvement compared to the ($4.9) million reported in the same period last year, demonstrating progress towards operational profitability.
The company announced a definitive agreement to acquire the ExoDx business from Bio-Techne Corporation for a total consideration of $15 million. The payment structure includes $5 million in stock to be paid at closing and $2.5 million annually over the subsequent four years, with 50% payable in cash and 50% payable in cash or stock at MDxHealth’s discretion.
The acquisition, which includes the ExoDx Prostate test, CLIA-certified clinical laboratory, and related assets, is expected to close in September. MDxHealth anticipates the ExoDx business will contribute over $20 million in revenue in 2026 and accelerate the company's overall revenue growth rate to approximately 30% in 2026.
Furthermore, the acquisition is projected to be accretive to MDxHealth's adjusted EBITDA starting in the fourth quarter of 2025. The company reaffirmed its 2025 revenue guidance of $108-110 million. Cash and cash equivalents as of June 30, 2025, were $32.8 million.
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