MDXH · Mdxhealth SA - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | $107.88M | $90.05M | $70.19M | $37.05M | $18.46M |
| Cost of Revenue | $38.24M | $34.91M | $26.26M | $17.84M | $10.42M |
| Gross Profit | $69.63M | $55.14M | $43.93M | $19.22M | $8.04M |
| R&D | $10.35M | $10.55M | $6.38M | $7.56M | $4.54M |
| SG&A | $26.93M | $22.80M | $23.01M | $23.54M | $13.99M |
| Total Operating Expenses | - | - | - | - | - |
| D&A | - | - | - | $965.0K | $1.53M |
| Operating Income | ($14.41M) | ($24.72M) | ($27.33M) | ($37.90M) | ($27.12M) |
| Interest Expense | $786.0K | $384.0K | $355.0K | $314.0K | $89.0K |
| Income Tax | ($1.86M) | $382.0K | $1.0K | $0 | $0 |
| Net Income | ($33.52M) | ($38.07M) | ($43.10M) | ($44.04M) | ($28.66M) |
| EPS - Basic | ($0.67) | ($1.16) | ($1.66) | ($0.28) | ($0.34) |
| EPS - Diluted | ($0.67) | ($1.16) | $1.66 | $0.28 | ($0.34) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | $29.03M | $46.80M | $22.38M | $15.50M | $15.95M |
| Accounts Receivable | $14.68M | $14.44M | $11.09M | $9.36M | $3.77M |
| Inventory | $6.74M | $3.87M | $2.78M | $2.33M | $1.91M |
| Accounts Payable | $10.33M | $8.00M | $8.81M | $10.18M | $7.46M |
| Current Assets | $53.41M | $66.89M | $38.16M | $29.15M | $23.09M |
| Total Assets | $147.95M | $157.33M | $129.13M | $119.14M | $31.86M |
| Current Liabilities | $49.53M | $42.66M | $19.52M | $18.28M | $16.43M |
| Long-term Debt | - | - | - | - | - |
| Total Liabilities | $160.05M | $142.49M | $121.92M | $109.82M | $26.01M |
| Stockholders' Equity | ($12.09M) | $14.84M | $7.21M | $9.31M | $5.85M |
| Retained Earnings | ($403.03M) | ($369.51M) | ($331.45M) | ($288.35M) | ($244.30M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | ($2.19M) | ($18.53M) | ($21.50M) | ($34.12M) | ($20.24M) |
| Investing Cash Flow | ($18.56M) | ($1.64M) | ($3.93M) | ($29.16M) | ($537.0K) |
| Financing Cash Flow | $2.96M | $44.60M | $32.28M | $20.84M | $14.29M |
| CapEx | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | 64.5% | 61.2% | 62.6% | 51.9% | 43.6% |
| Operating margin | -13.4% | -27.5% | -38.9% | -102.3% | -146.9% |
| EBITDA margin | - | - | - | -99.7% | -138.7% |
| Net margin | -31.1% | -42.3% | -61.4% | -118.9% | -155.3% |
| Free cash flow margin | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - |
| R&D / Revenue | 9.6% | 11.7% | 9.1% | 20.4% | 24.6% |
| SG&A / Revenue | 25.0% | 25.3% | 32.8% | 63.5% | 75.8% |
| Effective tax rate | - | - | - | - | - |
| Return on assets | -22.7% | -24.2% | -33.4% | -37.0% | -90.0% |
| Return on equity | 277.2% | -256.5% | -597.9% | -472.8% | -490.0% |
| Return on invested capital | - | - | - | - | - |
| Liquidity | |||||
| Current ratio | 1.08 | 1.57 | 1.95 | 1.59 | 1.41 |
| Quick ratio | 0.94 | 1.48 | 1.81 | 1.47 | 1.29 |
| Cash ratio | 0.59 | 1.10 | 1.15 | 0.85 | 0.97 |
| Leverage | |||||
| Debt / Equity | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - |
| Interest coverage | -18.3x | -64.4x | -77.0x | -120.7x | -304.8x |
| Equity multiplier | -12.23 | 10.60 | 17.92 | 12.79 | 5.45 |
| Liabilities / Assets | 1.08 | 0.91 | 0.94 | 0.92 | 0.82 |
| Efficiency | |||||
| Asset turnover | 0.73 | 0.57 | 0.54 | 0.31 | 0.58 |
| Inventory turnover | 5.67 | 9.02 | 9.45 | 7.66 | 5.45 |
| Days sales outstanding | 50d | 59d | 58d | 92d | 75d |
| Days inventory outstanding | 64d | 40d | 39d | 48d | 67d |
| Days payable outstanding | 99d | 84d | 122d | 208d | 261d |
| Cash conversion cycle | 15d | 15d | -26d | -69d | -120d |
| Valuation | |||||
| P / E | - | - | 2.4x | - | - |
| P / B | - | 5.2x | 14.2x | - | - |
| P / S | 1.7x | 0.9x | 1.5x | - | - |
| EV / EBITDA | - | - | - | - | - |
| Growth | |||||
| Revenue growth (YoY) | 19.8% | 28.3% | 89.4% | 100.7% | - |
| Revenue CAGR (3y) | 42.8% | 69.6% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - |
| Gross profit growth (YoY) | 26.3% | 25.5% | 128.6% | 138.9% | - |
| Operating income growth (YoY) | 41.7% | 9.5% | 27.9% | -39.7% | - |
| Net income growth (YoY) | 12.0% | 11.7% | 2.1% | -53.7% | - |
| EPS growth (YoY) | 42.2% | - | 492.9% | - | - |
| EPS CAGR (3y) | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - |
| Book value growth (YoY) | - | 105.9% | -22.6% | 59.3% | - |
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-1.90
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Medical Laboratories
Comparing MDxHealth SA against the 5 most active filers in the same SIC group.