MDxHealth announced its confirmed financial results for the fourth quarter and full year ended December 31, 2024. Fourth quarter revenue increased 28% to $24.7 million, and full year revenue reached $90.0 million, also up 28% from the prior year. This performance was driven by consistent execution and demand for precision diagnostics.
Gross profit for Q4 2024 increased 22% to $15.5 million, with gross margins at 62.7%, a decline of 2.6 percentage points from the prior year. For the full year, gross profit rose 26% to $55.1 million, with gross margins at 61.2%, a decline of 1.4 percentage points. The company's net loss for Q4 decreased 36% to $6.8 million, and full year net loss decreased 12% to $38.1 million.
Adjusted EBITDA for Q4 2024 improved by 68% to ($1.4) million, and for the full year, it improved by 24% to ($14.7) million. The company reaffirmed its 2025 revenue guidance of $108-110 million and maintained its expectation of achieving adjusted EBITDA profitability in the first half of 2025. Cash and cash equivalents stood at $46.8 million as of December 31, 2024.
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