Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
On August 13, 2026, MDxHealth SA (the “Company”)
issued a press release, a copy of which is attached hereto as Exhibit 99.1.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
Mdxhealth Reports Second Quarter 2026 Financial
Results
Second quarter revenue growth of 16%
to $27.2 million
Conference call with Q&A today
at 4:30 PM EST / 22:30 CET
IRVINE, California – August 13, 2026
(GlobeNewswire) – MDxHealth SA (NASDAQ: MDXH) (the “Company” or “mdxhealth”),
a leader in urology-focused precision diagnostics, today announced its financial results for the second quarter ended June 30,
2026.
Michael K. McGarrity, CEO of mdxhealth, commented:
“We delivered sequential revenue growth of $3.3 million from Q1 to Q2, establishing a clear path toward meeting or exceeding
our 2026 revenue guidance of $110-115 million, which represents 20-26% growth over 2025 (excluding Resolve). Importantly, the commercial
team’s successful transition of all our Resolve customers by June 30, coupled with the integration of the ExoDx business and our
sales force restructuring over the past two quarters, is reflected in the strong recovery of our tissue-based business in Q2.
We expect our tissue growth rates to accelerate
further throughout the second half of the year, driving a return to positive adjusted EBITDA as we exit 2026. These results underscore
our track record of operating discipline and commercial execution. Combined with a strengthened balance sheet, we are well-positioned
to drive sustainable revenue growth and profitability.
Finally, our recent peer-reviewed publication
of the GPS PROMPT results from the Oxford study, alongside our ongoing AI initiatives, provides compelling support for expanding our market
conversion and share gains in the active surveillance population ahead of our landmark PROTECT study.”
Key Highlights
for the second quarter from continuing operations:
| ● | Revenue of $27.2 million, an increase of 16%
over prior year period, and a sequential increase of $3.3 million over Q1 |
| ● | Operating loss of $5.1 million compared to $1.5
million for second quarter of 2025, primarily due to increased operating expenses related to the ExoDx acquisition |
| ● | Net loss of $9.5 million, an increase of 36%
over prior year period |
| ● | Adjusted EBITDA of $(2.3) million compared to
$1.1 million for the same period last year |
| ● | Tissue-based (Confirm mdx and GPS mdx) test volume
of 12,525, a decrease of 1% over prior year period, but a 13% sequential increase over Q1 |
| ● | Liquid-based (Exo mdx) test volume of 13,578
compared to Select mdx volume of 4,455 for the same period last year |
| ● | Period-end cash and cash equivalents balance
of $19.2 million |
Results exclude Resolve mdx, which
has been discontinued and accounted for as a “discontinued operation” for the current and prior year periods.
Discontinuation
of the Resolve mdx Business
As previously announced in our first-quarter update,
the Company made the strategic decision to discontinue the Resolve UTI offering to renew our focus on our core prostate cancer business.
We successfully completed this wind-down in Q2, with the permanent cessation of operations of our wholly-owned subsidiary Delta Laboratories,
LLC (“Delta Lab”) and its Plano, Texas laboratory prior to June 30, 2026. Having met the requisite accounting criteria, the
Resolve business is now formally classified as a discontinued operation in accordance with IFRS. As required by these reporting standards,
all current and prior-year financial metrics discussed in this release and related financial statements reflect only our continuing core
operations, with the historical results of the Resolve business fully excluded.
In connection with the wind-down of Resolve, on
August 3, 2026, Delta Lab executed an Assignment for the Benefit of Creditors (“ABC”), assigning all assets and liabilities
of Delta Lab to a receiver who will have broad powers and authority to take possession of, and protect and preserve, the assets of Delta
Lab, and provide creditors of Delta Lab the opportunity to file proofs of claims. The ABC was executed in order to expedite an orderly
sale and disposition of the assets of Delta Lab and pay claims in order of priority, inclusive of the previously disclosed Novitas Solutions’
$10.4 million recoupment claim received by Delta Lab in relation to certain of its historical Resolve mdx claims. The ABC process is limited
solely to Delta Lab, which has been independently operated since it was acquired in 2022.
Registered
Direct Placement
On August
11, 2026, the Company executed a registered direct placement of 44,052,862 ordinary shares of the Company without nominal value (“Ordinary
Shares”) at the Nasdaq closing price-per-share of $0.454 on August 10, 2026, for total gross proceeds of $20 million before deducting
estimated offering expenses. The shares were sold to institutional investors, including some of the Company’s largest shareholders,
and were placed directly by the Company under its shelf registration statement on Form S-3 filed on February 17, 2026.
Financial
review of continuing operations for the three and six months ended, June 30, 2026 and 2025
| | |
Three months ended June 30 | | |
Six months ended June 30 | |
| USD in ’000 (except per share data)
Unaudited | |
2026 | | |
2025
(re-presented*) | | |
% Change | | |
2026 | | |
2025
(re-presented*) | | |
% Change | |
| Revenue | |
| 27,209 | | |
| 23,394 | | |
| 16 | % | |
| 51,106 | | |
| 44,957 | | |
| 14 | % |
| Cost of sales (exclusive of amortization of intangible assets) | |
| (9,320 | ) | |
| (7,335 | ) | |
| 27 | % | |
| (18,547 | ) | |
| (14,438 | ) | |
| 28 | % |
| Gross Profit | |
| 17,889 | | |
| 16,059 | | |
| 11 | % | |
| 32,559 | | |
| 30,519 | | |
| 7 | % |
| Operating expenses | |
| (22,988 | ) | |
| (17,578 | ) | |
| 31 | % | |
| (45,822 | ) | |
| (36,735 | ) | |
| 25 | % |
| Operating loss | |
| (5,099 | ) | |
| (1,519 | ) | |
| 236 | % | |
| (13,263 | ) | |
| (6,216 | ) | |
| 113 | % |
| Net loss | |
| (9,478 | ) | |
| (6,960 | ) | |
| 36 | % | |
| (19,174 | ) | |
| (16,262 | ) | |
| 18 | % |
| Adjusted EBITDA** | |
| (2,294 | ) | |
| 1,071 | | |
| n/a | | |
| (7,633 | ) | |
| (530 | ) | |
| n/a | |
| Basic and diluted loss per share | |
| (0.18 | ) | |
| (0.14 | ) | |
| 29 | % | |
| (0.37 | ) | |
| (0.33 | ) | |
| 12 | % |
| * | Comparative information
has been re-presented to reflect the classification of the Resolve business as a discontinued operation |
| ** | A reconciliation of IFRS to non-IFRS financial measures has
been provided in the tables included in this press release. An explanation of these measures is also included below under the heading
“Non-IFRS Measures” |
Results from continuing operations for the
three months ended June 30, 2026
Revenue increased 16% to $27.2 million compared
to $23.4 million for the prior year. Revenue in the second quarter of 2026 and 2025 was comprised of 73% and 96% from tissue-based tests,
respectively.
Gross profit increased 11% to $17.9 million compared
to $16.1 million for the prior year. Gross margins were 65.7% as compared to 68.6% for the prior year, a reduction of 2.9 percentage points,
primarily attributed to test mix.
Operating loss increased 236% to $5.1 million
compared to $1.5 million for the prior year, driven by increased operating expenses related to the ExoDx acquisition in September 2025.
Net loss increased 36% to $9.5 million compared
to $7.0 million for the prior year, primarily driven by higher operating expenses related to the ExoDx acquisition in September 2025.
Adjusted EBITDA was ($2.3) million compared to
$1.1 million for the same period last year.
A reconciliation of IFRS to non-IFRS financial
measures has been provided in the tables included in this press release. An explanation of these measures is also included below under
the heading “Non-IFRS Disclosure.”
Results from continuing operations for the
six months ended June 30, 2026
Revenue increased 14% to $51.1 million compared
to $45.0 million for the prior year. Revenue in the first six months of 2026 and 2025 was comprised of 75% and 96% from tissue-based tests,
respectively.
Gross profit increased 7% to $32.6 million compared
to $30.5 million for the prior year. Gross margins were 63.7% as compared to 67.9% for the prior year, a reduction of 4.2 percentage points,
primarily attributed to test mix.
Operating loss increased 113% to $13.3 million
compared to $6.2 million for the prior year, driven by increased operating expenses related to the ExoDx acquisition in September 2025.
Net loss increased 18% to $19.2 million compared
to $16.3 million for the prior year, primarily driven by higher operating expenses related to the ExoDx acquisition in September 2025.
Adjusted EBITDA was ($7.6) million compared to
($0.5) million for the same period last year.
A reconciliation of IFRS to non-IFRS financial
measures has been provided in the tables included in this press release. An explanation of these measures is also included below under
the heading “Non-IFRS Disclosure.”
Cash and cash equivalents as of June 30, 2026,
were $19.2 million. Pro-forma cash balance as of June 30, 2026, including the $20 million in gross proceeds from the registered direct
placement discussed above, equals $39.2 million.
Conference
Call
Michael K. McGarrity, Chief Executive Officer,
and Ron Kalfus, Interim Chief Financial Officer, will host a conference call and Q&A session today at 4:30 PM EST / 22:30 CET. The
call will be conducted in English and a replay will be available for 30 days.
To participate in the conference call, please
select your phone number below:
United States: 1-833-309-3473
Belgium: 0800 72 519
United Kingdom: 0808 101 1183
Conference ID: MDX2Q26
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1768432&tp_key=e5dee9dbef
To ensure a timely connection, it is recommended
that users register at least 10 minutes prior to the scheduled start time.
About mdxhealth
Mdxhealth is a leading precision diagnostics company
that provides actionable molecular information to personalize patient diagnosis and treatment. The Company’s tests, based on proprietary
genomic, epigenomic, exosomal and other molecular technologies, assist physicians with the diagnosis and prognosis of prostate cancer
and other urologic diseases. For more information, visit mdxhealth.com and follow us on social media at: twitter.com/mdxhealth, facebook.com/mdxhealth
and linkedin.com/company/mdxhealth.
Non-IFRS disclosure
In addition to the Company’s financial results
determined in accordance with IFRS, the Company provides adjusted EBITDA and adjusted EBITDA margin, non-IFRS measures that the Company
determines to be useful in evaluating its operating performance. The Company defines adjusted EBITDA as net loss from continuing operations
less interest expense, depreciation and amortization of intangible assets, impairment, share-based compensation, fair-value adjustments,
provision for inventory obsolescence, reduction in force severance costs, ExoDx acquisition expenses, amendments related to the Exact
Sciences earnout, income tax benefit (expense), and other financial and non-cash expenses. Management believes that presentation of non-IFRS
financial measures provides useful supplemental information to investors and facilitates the analysis of the Company’s core operating
results and comparison of operating results across reporting periods. Adjusted EBITDA margin is calculated as adjusted EBITDA divided
by total revenue. The Company uses this non-IFRS financial information to establish budgets, manage the Company’s business, and
set incentive and compensation arrangements. However, non-IFRS financial information is presented for supplemental information purposes
only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented
in accordance with IFRS. For example, non-IFRS adjusted EBITDA excludes a number of expense items that are included in net loss. As a
result, positive adjusted EBITDA may be achieved while a significant net loss persists. The Company’s presentation of expected non-IFRS
adjusted EBITDA is a forward-looking statement about the Company’s future financial performance. This non-IFRS measure includes
adjustments like share-based compensation, debt extinguishment costs, fair-value adjustments related to contingent considerations that
are difficult to predict for future periods because the nature of the adjustments pertain to events that have not yet occurred. Additionally,
management does not forecast many of the excluded items for internal use. Information reconciling forward-looking non-IFRS measures to
IFRS measures is therefore not available without unreasonable effort and is not provided. The occurrence, timing, and amount of any of
the items excluded from IFRS to calculate non-IFRS could significantly impact the Company’s IFRS results.
Forward-Looking Statement: This
press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the
market in which it operates, all of which involve certain risks and uncertainties. These statements are often, but are not always, made
through the use of words or phrases such as “potential,” “expect,” “will,” “goal,” “next,”
“potential,” “aim,” “explore,” “forward,” “future,” and “believes”
as well as similar expressions. Forward-looking statements contained in this release include, but are not limited to, statements regarding
expected future operating results; our strategies, positioning, resources, capabilities and expectations for future events or performance;
and the anticipated timing and benefits of our acquisitions, including estimated synergies and other financial impacts. Such statements
and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed
reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company’s
control, and may turn out to be materially different. Examples of forward-looking statements include, among others, statements we make
regarding expected future operating results, product development efforts, our strategies, positioning, resources, capabilities and expectations
for future events or performance. Important factors that could cause actual results, conditions and events to differ materially from those
indicated in the forward-looking statements include, among others, the following: our ability to successfully and profitably market our
products; the acceptance of our products and services by healthcare providers; our ability to achieve and maintain adequate levels of
coverage or reimbursement for our current and future solutions we commercialize or may seek to commercialize; the willingness of health
insurance companies and other payers to cover our products and services and adequately reimburse us for such products and services; changes
in payer claims reimbursement practices and MDxHealth estimates regarding collection amounts for tests; the results of recoupment decisions
and related appeals; the impacts and effectiveness of exiting from discontinued operations; our ability to obtain and maintain regulatory
approvals and comply with applicable regulations; timing, progress and results of our research and development programs; the period over
which we estimate our existing cash will be sufficient to fund our future operating expenses and capital expenditure requirements; our
ability to remain in compliance with financial covenants made to and make scheduled payments to our creditors; the possibility that the
anticipated benefits from our business acquisitions like our acquisition of the ExoDx and GPS prostate cancer businesses will not be realized
in full or at all or may take longer to realize than expected; and the amount and nature of competition for our products and services.
Other important risks and uncertainties are described in the Risk Factors sections of our most recent Annual Report on Form 20-F and in
our other reports filed with the Securities and Exchange Commission. MDxHealth expressly disclaims any obligation to update any such forward-looking
statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances
on which any such statement is based unless required by law or regulation. This press release does not constitute an offer or invitation
for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within
the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom,
and in accordance with any applicable U.S. securities laws.
NOTE: The mdxhealth logo, mdxhealth,
Confirm mdx, Select mdx, Resolve mdx, Genomic Prostate Score, GPS mdx, Exosome Diagnostics, ExosomeDx, Exo mdx, ExoDx, ExoDx Prostate
Intelliscore (EPI), and Monitor mdx are trademarks or registered trademarks of MDxHealth SA and its affiliates. The GPS test was formerly
known as and is frequently referenced in guidelines, coverage policies, reimbursement decisions, manuscripts and other literature as
Oncotype DX Prostate, Oncotype DX GPS, Oncotype DX Genomic Prostate Score, and Oncotype Dx Prostate Cancer Assay, among others. The Oncotype
DX trademark and all other trademarks and service marks, are the property of their respective owners.
CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
| | |
Three months ended | | |
Six months ended | |
| | |
June 30, | | |
June 30, | |
| | |
| | |
2025 | | |
| | |
2025 | |
| Thousands of $ (except per share data) | |
2026 | | |
(re- presented*) | | |
2026 | | |
(re- presented*) | |
| –Continuing operations– | |
| | |
| | |
| | |
| |
| Revenues | |
| 27,209 | | |
| 23,394 | | |
| 51,106 | | |
| 44,957 | |
| Cost of sales (exclusive of amortization of intangible assets) | |
| (9,320 | ) | |
| (7,335 | ) | |
| (18,547 | ) | |
| (14,438 | ) |
| Gross profit | |
| 17,889 | | |
| 16,059 | | |
| 32,559 | | |
| 30,519 | |
| Research and development expenses | |
| (1,995 | ) | |
| (1,859 | ) | |
| (4,129 | ) | |
| (4,347 | ) |
| Selling and marketing expenses | |
| (11,412 | ) | |
| (8,824 | ) | |
| (22,804 | ) | |
| (17,816 | ) |
| General and administrative expenses | |
| (8,186 | ) | |
| (6,144 | ) | |
| (16,235 | ) | |
| (11,899 | ) |
| Amortization of intangible assets | |
| (1,256 | ) | |
| (1,312 | ) | |
| (2,513 | ) | |
| (2,626 | ) |
| Other operating (expense) income, net | |
| (139 | ) | |
| 561 | | |
| (141 | ) | |
| (47 | ) |
| Operating loss | |
| (5,099 | ) | |
| (1,519 | ) | |
| (13,263 | ) | |
| (6,216 | ) |
| Financial income | |
| 1,701 | | |
| 501 | | |
| 2,855 | | |
| 1,108 | |
| Financial expenses | |
| (6,080 | ) | |
| (6,358 | ) | |
| (8,766 | ) | |
| (11,433 | ) |
| Loss before income tax | |
| (9,478 | ) | |
| (7,376 | ) | |
| (19,174 | ) | |
| (16,541 | ) |
| Income tax benefit | |
| 0 | | |
| 416 | | |
| 0 | | |
| 279 | |
| Loss from continuing operations | |
| (9,478 | ) | |
| (6,960 | ) | |
| (19,174 | ) | |
| (16,262 | ) |
| –Discontinued operations– | |
| | | |
| | | |
| | | |
| | |
| Loss from discontinued operations, net of tax | |
| (2,054 | ) | |
| (412 | ) | |
| (1,225 | ) | |
| (319 | ) |
| Loss for the period attributable to owners of the parent | |
| (11,532 | ) | |
| (7,372 | ) | |
| (20,399 | ) | |
| (16,581 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Loss per share attributable to owners of the parent | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted loss per share from continuing operations | |
| (0.18 | ) | |
| (0.14 | ) | |
| (0.37 | ) | |
| (0.33 | ) |
| Basic and diluted loss per share from discontinued operations | |
| (0.04 | ) | |
| (0.01 | ) | |
| (0.03 | ) | |
| 0.00 | |
| Total basic and diluted loss per share | |
| (0.22 | ) | |
| (0.15 | ) | |
| (0.40 | ) | |
| (0.33 | ) |
| * | Comparative information has been re-presented to reflect the
classification of the Resolve business as a discontinued operation. |
CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| Thousands of $ | |
As of
June 30,
2026 | | |
As of
December 31,
2025 | |
| ASSETS | |
| | |
| |
| Non-current assets | |
| | |
| |
| Goodwill | |
| 39,252 | | |
| 38,948 | |
| Intangible assets | |
| 36,709 | | |
| 39,424 | |
| Property, plant and equipment | |
| 3,608 | | |
| 4,855 | |
| Right-of-use assets | |
| 8,290 | | |
| 9,821 | |
| Financial assets | |
| 1,199 | | |
| 1,496 | |
| Total non-current assets | |
| 89,058 | | |
| 94,544 | |
| | |
| | | |
| | |
| Current assets | |
| | | |
| | |
| Assets held-for-sale | |
| 0 | | |
| 940 | |
| Inventories | |
| 6,433 | | |
| 6,741 | |
| Trade receivables | |
| 14,926 | | |
| 14,675 | |
| Prepaid expenses and other current assets | |
| 2,462 | | |
| 2,021 | |
| Cash and cash equivalents | |
| 19,207 | | |
| 29,032 | |
| Total current assets | |
| 43,028 | | |
| 53,409 | |
| TOTAL ASSETS | |
| 132,086 | | |
| 147,953 | |
| | |
| | | |
| | |
| EQUITY | |
| | | |
| | |
| Share capital | |
| 219,209 | | |
| 219,209 | |
| Issuance premium | |
| 153,177 | | |
| 153,177 | |
| Accumulated deficit | |
| (423,433 | ) | |
| (403,034 | ) |
| Share-based compensation | |
| 21,297 | | |
| 19,335 | |
| Translation reserve | |
| (654 | ) | |
| (781 | ) |
| Total equity | |
| (30,404 | ) | |
| (12,094 | ) |
| | |
| | | |
| | |
| LIABILITIES | |
| | | |
| | |
| Non-current liabilities | |
| | | |
| | |
| Loans and borrowings | |
| 96,408 | | |
| 76,197 | |
| Lease liabilities | |
| 7,634 | | |
| 8,509 | |
| Other non-current financial liabilities | |
| 21,046 | | |
| 25,807 | |
| Total non-current liabilities | |
| 125,088 | | |
| 110,513 | |
| | |
| | | |
| | |
| Current liabilities | |
| | | |
| | |
| Loans and borrowings | |
| 0 | | |
| 0 | |
| Lease liabilities | |
| 1,804 | | |
| 1,898 | |
| Trade payables | |
| 10,569 | | |
| 10,330 | |
| Other current liabilities | |
| 6,945 | | |
| 6,741 | |
| Other current financial liabilities | |
| 18,084 | | |
| 30,565 | |
| Total current liabilities | |
| 37,402 | | |
| 49,534 | |
| Total liabilities | |
| 162,490 | | |
| 160,047 | |
| TOTAL EQUITY AND LIABILITIES | |
| 132,086 | | |
| 147,953 | |
CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS
| Thousands of $ | |
| | |
| |
| For the six months ended June 30, | |
2026 | | |
2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |
| | |
| |
| Operating loss | |
| (14,425 | ) | |
| (6,504 | ) |
| Depreciation | |
| 2,253 | | |
| 1,871 | |
| Amortization of intangible assets | |
| 2,529 | | |
| 2,642 | |
| Impairment | |
| 914 | | |
| 0 | |
| Provision for inventory obsolescence | |
| 901 | | |
| 528 | |
| Share-based compensation | |
| 1,167 | | |
| 1,071 | |
| Other non-cash transactions | |
| (47 | ) | |
| 70 | |
| Cash used in operations before working capital changes | |
| (6,708 | ) | |
| (322 | ) |
| | |
| | | |
| | |
| Changes in operating assets and liabilities | |
| | | |
| | |
| Increase (-) in inventories | |
| (594 | ) | |
| (317 | ) |
| Increase (-) in receivables | |
| (692 | ) | |
| (1,083 | ) |
| Increase (+) decrease (-) in payables | |
| 654 | | |
| (2,507 | ) |
| Net cash outflow from operating activities | |
| (7,340 | ) | |
| (4,229 | ) |
| | |
| | | |
| | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |
| | | |
| | |
| Purchase of property, plant and equipment | |
| (401 | ) | |
| (840 | ) |
| ExoDx acquisition-related working capital adjustment | |
| (304 | ) | |
| 0 | |
| Payment for Innovation Platform | |
| (329 | ) | |
| 0 | |
| Earnout payment (GPS acquisition) | |
| (7,479 | ) | |
| (19,658 | ) |
| Interest received | |
| 354 | | |
| 922 | |
| Net cash outflow from investing activities | |
| (8,159 | ) | |
| (19,576 | ) |
| | |
| | | |
| | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |
| | | |
| | |
| Proceeds from loan obligation | |
| 19,400 | | |
| 24,250 | |
| Earnout payment (GPS acquisition) | |
| (6,521 | ) | |
| (8,313 | ) |
| Repayment of loan obligations, loan modifications, and debt extinguishment costs | |
| 0 | | |
| (324 | ) |
| Payment of lease liability | |
| (1,393 | ) | |
| (1,032 | ) |
| Payment of interest | |
| (5,520 | ) | |
| (4,554 | ) |
| Other financial expense | |
| (290 | ) | |
| (227 | ) |
| Net cash inflow from financing activities | |
| 5,676 | | |
| 9,800 | |
| | |
| | | |
| | |
| Net decrease in cash and cash equivalents | |
| (9,823 | ) | |
| (14,005 | ) |
| | |
| | | |
| | |
| Cash and cash equivalents at beginning of the period | |
| 29,032 | | |
| 46,798 | |
| Effect of exchange rates | |
| (2 | ) | |
| 18 | |
| Cash and cash equivalents at end of the period | |
| 19,207 | | |
| 32,811 | |
UNAUDITED RECONCILIATION OF IFRS TO NON-IFRS FINANCIAL MEASURES
| | |
Three months ended | | |
Six months ended | |
| | |
June 30, | | |
June 30, | |
| | |
| | |
2025 | | |
| | |
2025 | |
| Thousands of $ | |
2026 | | |
(re-presented*) | | |
2026 | | |
(re-presented*) | |
| | |
| | |
| | |
| | |
| |
| IFRS net loss from continuing operations | |
| (9,478 | ) | |
| (6,960 | ) | |
| (19,174 | ) | |
| (16,262 | ) |
| Amortization of intangible assets | |
| 1,256 | | |
| 1,312 | | |
| 2,513 | | |
| 2,626 | |
| Depreciation expense | |
| 998 | | |
| 796 | | |
| 1,992 | | |
| 1,568 | |
| Impairment | |
| 0 | | |
| 0 | | |
| 0 | | |
| 0 | |
| Interest expense, net | |
| 3,538 | | |
| 2,640 | | |
| 6,351 | | |
| 4,483 | |
| Share-based compensation expense | |
| 605 | | |
| 680 | | |
| 1,167 | | |
| 1,071 | |
| Reduction in force severance costs | |
| 0 | | |
| 351 | | |
| 0 | | |
| 351 | |
| Income tax expense | |
| 0 | | |
| (416 | ) | |
| 0 | | |
| (279 | ) |
| Fair value adjustments (1) | |
| 686 | | |
| 3,088 | | |
| (711 | ) | |
| 5,635 | |
| Other adjustments (2) | |
| 101 | | |
| (420 | ) | |
| 229 | | |
| 277 | |
| Adjusted EBITDA | |
| (2,294 | ) | |
| 1,071 | | |
| (7,633 | ) | |
| (530 | ) |
| * | Comparative information has been re-presented to reflect the
classification of the Resolve business as a discontinued operation. |
| 1) | Primarily related to GPS and ExoDx contingent considerations, option to pay Bio-Techne and Exact Sciences earnout in shares, and Exact
Sciences 5-year warrants |
| 2) | Bank fees and other non-cash expenses |
For more information:
info@mdxhealth.com
LifeSci Advisors (IR & PR)
John Fraunces
Managing Director
Tel: +1 917 355 2395
Jfraunces@lifesciadvisors.com
