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Highlights

  • Quarterly revenue grew 20% year over year to USD 26.6 million, marking 17 consecutive quarters of growth.
  • Mdxhealth reported positive adjusted EBITDA of USD 1.4 million, up USD 6.2 million from Q2 last year.
  • Definitive agreement signed to acquire Exosome Diagnostics from Bio-Techne for USD 15 million.

Mdxhealth (NASDAQ: MDXH) has reported its preliminary financial results for the second quarter and first half of fiscal year 2025, along with a strategic acquisition intended to accelerate its growth trajectory. For the quarter ended June 30, 2025, the company posted a 20% year-over-year increase in revenue to USD 26.6 million and achieved adjusted EBITDA profitability of USD 1.4 million, compared to a negative USD 4.9 million in the prior year period.

Mdxhealth is a precision diagnostics company with a focus on urology and prostate cancer. The company’s tissue-based tests, Confirm mdx and GPS, represented 84% of Q2 revenue and drove a 26% increase in volume. Liquid-based test volume also rose 18%. Gross profit for the quarter grew 32% to USD 17.6 million, while gross margin improved to 66.0% from 60.0% a year earlier.

The operating loss narrowed significantly to USD 1.9 million, a 74% reduction compared to the prior year period. Net loss also declined 36% to USD 7.4 million. Excluding non-cash fair value adjustments, the net loss would have decreased 65% to USD 4.3 million.

In the six-month period ended June 30, 2025, Mdxhealth reported revenue of USD 50.9 million, up 21% year over year. Gross profit for the half-year rose 30% to USD 33.1 million, and adjusted EBITDA was neutral, compared to a loss of USD 9.4 million in the same period last year. The company held USD 32.8 million in cash and cash equivalents at quarter-end.

In a concurrent announcement, Mdxhealth disclosed that it has entered into a definitive agreement to acquire the Exosome Diagnostics business from Bio-Techne Corporation. The USD 15 million transaction, to be paid in a mix of stock and cash over five years, includes the ExoDx Prostate (EPI) test and a CLIA-certified lab. Mdxhealth expects the acquisition to close in September 2025, and anticipates that the ExoDx business will generate more than USD 20 million in revenue in 2026 and contribute positively to adjusted EBITDA beginning in Q4 2025.

The acquisition is expected to expand the company’s liquid biopsy capabilities in prostate cancer diagnostics. The company reaffirmed its full-year 2025 revenue guidance of USD 108 million to USD 110 million.