MDxHealth SA
MDXH Nasdaq· Services-Medical Laboratories
KIRA · Stoqly’s AI analyst, in plain words
- MDxHealth SA had $108M of revenue in fiscal 2025, up 19.8% on the year before. Over five years, revenue changed +42.3% a year on average.
- Its operating margin was −13.4%, up 14.1 pts: of every 100 in sales, about −13 is left after running the business.
- MDxHealth SA lost $33.5M in fiscal 2025.
- Free cash flow was −$3.3M in fiscal 2025, −3.1% of revenue.
- MDxHealth SA owes $47.2M more than it holds in cash.
Market cap
—
P/E
—
Revenue
$108M
Net income
−$33.5M
Free cash flow
−$3.3M
Operating margin
−13.4%
MDxHealth SA in 30 seconds · fiscal 2025
Are sales growing?
+19.8%
Yes. Sales grew 19.8% last year.
Does it make a profit?
−31.1%
No. It lost money last year.
Does profit turn into cash?
−3.1%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
What MDxHealth SA does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 3, 2026
- Legal name
- MDxHealth SA
- CIK
- 0001872529
MDxHealth SA · MDXH
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $22.2M | $37.1M | $70.2M | $90.0M | $108M |
| Revenue growth | 20.5% | 66.6% | 89.4% | 28.3% | 19.8% |
| Gross margin | 47.5% | 51.9% | 62.6% | 61.2% | 64.5% |
| Operating margin | −120.7% | −102.3% | −38.9% | −27.5% | −13.4% |
| Net income | −$29.0M | −$44.0M | −$43.1M | −$38.1M | −$33.5M |
| Net margin | −130.4% | −118.9% | −61.4% | −42.3% | −31.1% |
| Diluted EPS | $2.38 | −$2.78 | −$1.66 | −$1.16 | −$0.67 |
| Cash | |||||
| Cash from operations | −$22.5M | −$34.1M | −$21.5M | −$18.5M | −$2.2M |
| Capital expenditure | $0.9M | $2.8M | $2.7M | $1.2M | $1.2M |
| Free cash flow | −$23.4M | −$36.9M | −$24.2M | −$19.7M | −$3.3M |
| FCF margin | −105.4% | −99.6% | −34.5% | −21.9% | −3.1% |
| Share count change | −85.3% | 30.1% | 63.3% | 26.8% | 52.0% |
| Debt and strength | |||||
| Cash and short-term investments | $58.5M | $15.5M | $22.4M | $46.8M | $29.0M |
| Debt incl. finance leases | $4.4M | $34.9M | $35.6M | $51.3M | $76.2M |
| Loans, net | $12.1M | $35.5M | $36.2M | — | — |
| Shareholders' equity | $46.9M | $9.3M | $7.2M | $14.8M | −$12.1M |
| Current ratio | 4.1x | 1.6x | 2.0x | 1.6x | 1.1x |
| Interest coverage | −117.2x | −120.7x | −77.0x | −64.4x | −18.3x |
| Returns and quality | |||||
| Return on capital | — | −104.2% | −105.9% | −101.0% | −32.5% |
| Return on equity | −110.0% | −156.7% | −521.7% | −345.3% | −2,440.4% |
| Return on tangible equity | −66.7% | — | — | — | — |
| Piotroski F-score | 6 | 4 | 6 | 3 | 4 |
| Altman Z'' | −6.9 | −9.3 | −8.8 | −7.6 | −9.4 |
Insiders bought, 12 months
$1.0M
1 insider
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
MDxHealth SA · MDXH
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Source: SEC EDGAR XBRL filings (CIK 0001872529). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.