olivLaw · US equity research
MDxHealth SA MDXH
Services-Medical Laboratories · SIC 8071 · Vertical: Services-Medical Laboratories (SIC 8071)
MDxHealth is a Belgian-incorporated precision diagnostics company selling molecular tests for prostate cancer and recurrent urinary tract infections, mainly in the United States. It closed fiscal 2025 with revenue of 107.9 million USD but a net loss of 33.5 million USD, keeping the pace of growth and funding at the center of investor attention.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, MDxHealth SA (MDXH) stock was 0.16 USD (−1.01% on the day), with market capitalisation 8.0 m USD, beta 1.13, 52-week range 0.16–4.72 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 22.5
- oversold (≤ 30)
- Bollinger (20, 2)
- -0.08 – 0.71
- in the lower half of the band · %B 0.30 · band width 253.4%
- SMA 50 / 200
- 0.52 / 1.48
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.11 / -0.11
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −73.8% | −1.1% | −72.7 pp | — |
| 3 months | −64.0% | −0.5% | −63.5 pp | — |
| 6 months | −92.3% | +4.4% | −96.6 pp | — |
| Year to date | −95.6% | +12.3% | −107.9 pp | — |
| 1 year | −96.7% | +13.5% | −110.3 pp | +7.7% |
| 3 years | −94.8% | +76.4% | −171.2 pp | +74.2% |
| 5 years | −98.7% | +63.7% | −162.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 11.8 m | 18.5 m | 22.2 m | 37.1 m | 70.2 m | 90.0 m | 107.9 m |
| Revenue YoY | unavailable | +56.6% | +20.5% | +66.6% | +89.4% | +28.3% | +19.8% |
| Net income | -43.1 m | -28.7 m | -29.0 m | -44.0 m | -43.1 m | -38.1 m | -33.5 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.69 | 0.34 | 2.38 | -2.78 | -1.66 | -1.16 | -0.67 |
| Diluted EPS YoY | unavailable | unavailable | +600.0% | −216.8% | unavailable | unavailable | unavailable |
| net % | -365.7% | -155.3% | -130.4% | -118.9% | -61.4% | -42.3% | -31.1% |
| Free cash flow | -22.4 m | -20.8 m | -23.4 m | -36.9 m | -24.2 m | -19.7 m | -3.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 29.0 m USD
- Financial debt
- 76.2 m USD
- Net debt
- 47.2 m USD
- Equity
- -12.1 m USD
- Total assets
- 148.0 m USD
- Debt / equity
- unavailable
- Current ratio
- 1.08x
- ROE
- unavailable
- ROA
- -22.0%
- FCF margin
- -3.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 18.5 m | 22.2 m | 37.1 m | 70.2 m | 90.0 m | 107.9 m | SEC (XBRL)· 03 Apr 2026verified |
| Cost of revenue | 10.4 m | 11.7 m | 17.8 m | 26.3 m | 34.9 m | 38.2 m | SEC (XBRL)· 03 Apr 2026verified |
| Gross profit | 8.0 m | 10.6 m | 19.2 m | 43.9 m | 55.1 m | 69.6 m | SEC (XBRL)· 03 Apr 2026verified |
| Research & development | 4.5 m | 5.6 m | 5.5 m | 6.4 m | 10.6 m | 10.4 m | SEC (XBRL)· 03 Apr 2026verified |
| Operating income | -27.1 m | -26.8 m | -37.9 m | -27.3 m | -24.7 m | -14.4 m | SEC (XBRL)· 03 Apr 2026verified |
| Depreciation & amortisation | 1.5 m | 880.0 k | 965.0 k | — | — | — | SEC (XBRL)· 25 Apr 2023verified |
| EBITDA | -25.6 m ≈ | -26.0 m ≈ | -36.9 m ≈ | — | — | — | SEC (XBRL)· 25 Apr 2023derived |
| Interest expense | 1.5 m | 2.2 m | 6.4 m | 18.3 m | 15.3 m | 23.0 m | SEC (XBRL)· 03 Apr 2026verified |
| Pre-tax income | -28.7 m | -29.0 m | -44.0 m | -43.1 m | -37.7 m | -35.4 m | SEC (XBRL)· 03 Apr 2026verified |
| Income tax | 0 | 0 | 0 | 1.0 k | 382.0 k | -1.9 m | SEC (XBRL)· 03 Apr 2026verified |
| Net income | -28.7 m | -29.0 m | -44.0 m | -43.1 m | -38.1 m | -33.5 m | SEC (XBRL)· 03 Apr 2026verified |
| Diluted EPS | 0.34 | 2.38 | -2.78 | -1.66 | -1.16 | -0.67 | SEC (XBRL)· 03 Apr 2026verified |
| Weighted average diluted shares | 83.2 m | 12.2 m | 15.9 m | 25.9 m | 32.9 m | 50.0 m | SEC (XBRL)· 03 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 16.0 m | 58.5 m | 15.5 m | 22.4 m | 46.8 m | 29.0 m | SEC (XBRL)· 03 Apr 2026verified |
| Receivables | 3.8 m | 4.6 m | 9.4 m | 11.1 m | 14.4 m | 14.7 m | SEC (XBRL)· 03 Apr 2026verified |
| Inventories | 2.3 m | 1.9 m | 2.3 m | 2.8 m | 3.9 m | 6.7 m | SEC (XBRL)· 03 Apr 2026verified |
| Current assets | 23.1 m | 66.6 m | 29.1 m | 38.2 m | 66.9 m | 53.4 m | SEC (XBRL)· 03 Apr 2026verified |
| Property, plant & equipment, net | 973.0 k | 1.7 m | 3.8 m | 5.0 m | 4.4 m | 4.9 m | SEC (XBRL)· 03 Apr 2026verified |
| Goodwill | — | 0 | 35.9 m | 35.9 m | 35.9 m | 38.9 m | SEC (XBRL)· 03 Apr 2026verified |
| Intangibles (excl. goodwill) | 5.1 m | 3.4 m | 46.2 m | 44.3 m | 40.6 m | 39.4 m | SEC (XBRL)· 03 Apr 2026verified |
| Total assets | 31.9 m | 75.1 m | 119.1 m | 129.1 m | 157.3 m | 148.0 m | SEC (XBRL)· 03 Apr 2026verified |
| Accounts payable | 5.3 m | 7.5 m | 10.2 m | 8.8 m | 8.0 m | 10.3 m | SEC (XBRL)· 03 Apr 2026verified |
| Short-term debt | 2.8 m | 4.4 m | 616.0 k | 643.0 k | 324.0 k | — | SEC (XBRL)· 31 Mar 2025verified |
| Long-term debt | — | — | — | 35.6 m | 51.0 m | 76.2 m | SEC (XBRL)· 03 Apr 2026verified |
| Current liabilities | 13.0 m | 16.4 m | 18.3 m | 19.5 m | 42.7 m | 49.5 m | SEC (XBRL)· 03 Apr 2026verified |
| Total liabilities | 26.0 m | 28.2 m | 109.8 m | 121.9 m | 142.5 m | 160.0 m | SEC (XBRL)· 03 Apr 2026verified |
| Equity | 5.8 m | 46.9 m | 9.3 m | 7.2 m | 14.8 m | -12.1 m | SEC (XBRL)· 03 Apr 2026verified |
| Shares outstanding at year end | — | 156.0 m | 0 | 27.3 m | 49.5 m | 51.4 m | SEC (XBRL)· 03 Apr 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -20.2 m | -22.5 m | -34.1 m | -21.5 m | -18.5 m | -2.2 m | SEC (XBRL)· 03 Apr 2026verified |
| Capex | 537.0 k | 896.0 k | 2.8 m | 2.7 m | 1.2 m | 1.2 m | SEC (XBRL)· 03 Apr 2026verified |
| Free cash flow | -20.8 m ≈ | -23.4 m ≈ | -36.9 m ≈ | -24.2 m ≈ | -19.7 m ≈ | -3.3 m ≈ | SEC (XBRL)· 03 Apr 2026derived |
| Investing cash flow | -537.0 k | -885.0 k | -29.0 m | -3.9 m | -1.6 m | -18.6 m | SEC (XBRL)· 03 Apr 2026verified |
| Financing cash flow | 14.3 m | 66.5 m | 20.7 m | 32.3 m | 44.6 m | 3.0 m | SEC (XBRL)· 03 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 8.0 m USD
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 8.76 – 27.97 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)8.76 – 27.97 (Mid 13.48)WACC 5.4% · starting FCFF 16.0 m USD · terminal value share of EV 87%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -31.1% | 30 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 42.8% | 100 (on a fixed band) | 25% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -0.6x | 0 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 1.1x | 23 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -41.7% | 0 (on a fixed band) | 25% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet9/100 · 2/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality· partial30/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
MDXHEALTH SA (MDXH). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 107.9 m USD in 2025; YoY growth 19.8%; net margin -31.1%; ROE -2,440.4%.
The estimated value range is 8.76–27.97 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 13.48 USD, the price of 0.16 USD leaves a potential of 8,518.5% (value / price − 1) and a margin of safety of 98.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 42.8%
- The price is below the estimated value range
What contradicts it
- Interest coverage: -0.6x
- Current ratio: 1.1x
- FCF yield: -41.7%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Medical Laboratories (SIC 8071) · same industry (4-digit SIC) · compared with 23 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NTRANatera, Inc. | 56.4 bn | — | -12.5% | -7.1% | +35.9% | +64% / +599% |
| LHLabcorp Holdings Inc. | 29.9 bn | 30.2 | 11.4% | 6.9% | +7.2% | +37% / +70% |
| DGXQuest Diagnostics Inc | 28.1 bn | 25.5 | 15.2% | 9.5% | +11.8% | +35% / +86% |
| GHGuardant Health, Inc. | 22.6 bn | — | — | -38.3% | +32.9% | +55% / +570% |
| CAICaris Life Sciences, Inc. | 9.5 bn | 97.6 | 17.2% | 9.2% | +97.0% | +30% / unavailable |
| GRALGRAIL, Inc. | 6.4 bn | — | -16.1% | -236.9% | +17.2% | +30% / unavailable |
| RDNTRadNet, Inc. | 6.3 bn | — | -2.1% | -0.9% | +11.5% | −3% / +142% |
| CDNACaredx, Inc. | 4.5 bn | 35.9 | 33.0% | 25.9% | +13.8% | +380% / +784% |
| VCYTVeracyte, Inc. | 4.2 bn | 37.5 | 8.8% | 20.4% | +16.0% | +11% / +105% |
| FTREFortrea Holdings Inc. | 2.0 bn | — | -12.3% | -2.6% | +1.0% | +64% / −29% |
| PSNLPersonalis, Inc. | 1.7 bn | — | -62.1% | -147.7% | −17.7% | +47% / +932% |
| BLLNBillionToOne, Inc. | 1.3 bn | 118.4 | 30.2% | 11.3% | +100.0% | −13% / unavailable |
| CSTLCastle Biosciences, Inc. | 1.1 bn | — | -4.2% | -5.4% | +3.7% | −11% / +79% |
| FLGTFulgent Genetics, Inc. | 541.5 m | — | -8.0% | -26.0% | +13.8% | −33% / −29% |
| YDESYD Bio Limited | 492.0 m | — | -445.1% | -1,392.6% | +16.9% | −40% / unavailable |
| BDSXBiodesix, Inc. | 226.7 m | — | -540.0% | -27.0% | +24.1% | +160% / −28% |
| XGNExagen Inc. | 206.2 m | — | -113.8% | -26.6% | +19.7% | +8% / +363% |
| SERASera Prognostics, Inc. | 59.0 m | — | -49.7% | -34,866.7% | +5.2% | −39% / +4% |
| AMSAmerican Shared Hospital Services | 8.2 m | — | -7.5% | -5.8% | −0.9% | −43% / −48% |
| MDXHMdxhealth SA | 8.0 m | — | -2,440.4% | -31.1% | +19.8% | −97% / −95% |
| ACONAclarion, Inc. | 5.0 m | — | -59.0% | -10,978.5% | +65.6% | −72% / −100% |
| ADVBAdvanced Biomed Inc. | 3.5 m | 0.4 | 84.8% | 5,231.3% | unavailable | −75% / unavailable |
| BGLCBioNexus Gene Lab Corp. | 2.8 m | — | -33.7% | -82.4% | −21.9% | −79% / −90% |
| BNRBurning Rock Biotech Limited | 0 | — | -10.1% | -10.3% | +9.2% | −41% / +55% |
1- and 3-year price returns: for MDXH from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 03 Apr 2026; since then the company filed 6-K (30 Oct 2026), 6-K (16 Oct 2026), 6-K (03 Sept 2026), 6-K (13 Aug 2026), 6-K (24 Jul 2026).
In brief
MDxHealth is a Belgian-incorporated precision diagnostics company selling molecular tests for prostate cancer and recurrent urinary tract infections, mainly in the United States. It closed fiscal 2025 with revenue of 107.9 million USD but a net loss of 33.5 million USD, keeping the pace of growth and funding at the center of investor attention.
SWOT
Strengths
- A test portfolio recognized in clinical guidelines and reimbursed by Medicare, which supports adoption.
- An established customer base among urologists with a large volume of test orders.
- CAP-accredited and CLIA-certified laboratories plus an extensive library of biomarkers.
Weaknesses
- Repeated net losses and negative operating cash flow with no demonstrated profitability.
- Financial dependence on a few tests, notably Confirm mdx and GPS mdx.
- Debt secured by substantially all assets and covenant restrictions imposed by lenders.
Opportunities
- Expanding reimbursement to private payors could raise average revenue per test.
- Launching Monitor mdx could extend the portfolio into active surveillance.
- Integrating Exo mdx could generate sales synergies with existing customers.
Threats
- Funding pressure could lead to dilution through share issuance.
- Changes in FDA rules on laboratory developed tests could raise costs.
- Reduced reimbursement or exclusion from government payor programs could weigh on revenue.
Risks
- Going concernhigh
The financial statements are prepared on a going concern basis, and management acknowledges substantial doubt about the company's ability to continue as a going concern 1.
- Need for additional fundinghigh
The company may need additional capital, which may not be available on acceptable terms 1.
- Credit facility restrictionsmedium
The OrbiMed facility restricts debt, dividends and acquisitions, and failure to meet covenants could allow lenders to accelerate repayment 1.
- Reimbursement dependencemedium
Revenue depends on third-party payor payments, and delays or denials could affect collections 1.
- Earnout obligationsmedium
Payments to Exact Sciences and Bio-Techne could absorb available cash if revenue does not grow enough.
Investment thesis
What would need to be true (bull case)
- If revenue keeps growing and the loss keeps narrowing, the company could reach a more sustainable operating level, supported by clinical guidelines and reimbursement.
- Integrating Exo mdx could add a screening test with high negative predictive value and widen the customer base.
- Medicare coverage for more tests could reduce uncertainty over collections.
What would break the thesis
- Repeated losses and doubts about going concern could force significant shareholder dilution.
- Debt and earnout obligations could limit flexibility and investment in research.
- If reimbursement or regulation shifts unfavorably, demand for the tests could decline.
What to watch
- Revenue and net loss trajectory versus fiscal 2025Q1 2027
- Earnout payments to Exact Sciences under the revised schedule2026
- Exo mdx integration and migration of Select mdx customers2026
- Compliance with OrbiMed facility covenants and minimum cash levelsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 03 Apr 2026; since then the company filed 6-K (30 Oct 2026), 6-K (16 Oct 2026), 6-K (03 Sept 2026), 6-K (13 Aug 2026), 6-K (24 Jul 2026).
The business
The business model relies on direct sales to urologists, whom the company calls its customers, and on reimbursement from Medicare and other payors. The tests are recognized in NCCN guidelines, which supports adoption. The company states that more than 7,000 urologists have ordered over 500,000 mdxhealth tests 1.
The financial structure is strained: the company has an accumulated deficit of 403.0 million USD and long-term loans of 76.2 million USD, while earnout payments to Exact Sciences are staggered through 2028 1.
Segments
Prostate cancer tests
Exo mdx, Confirm mdx and GPS mdx form the core portfolio. Exo mdx has a 91% negative predictive value for clinically significant prostate cancer, and Confirm mdx has 96% 1.
Resolve mdx (urinary infections)
Resolve mdx identifies pathogens and resistance genes in recurrent UTIs, with results within 48 hours versus 5 to 7 days for standard urine cultures 1.
Market context
The addressable market is large: prostate cancer is the most diagnosed cancer in US men, with an estimated 313,780 diagnoses in 2025, and about 25 million PSA tests are performed each year 1. The company also estimates around 500,000 prostate biopsies annually, but the real market value depends on urologist adoption and reimbursement.
The company estimates that roughly half or more of biopsies find no cancer, which creates demand for tests that could reduce invasive procedures 1.
Trends
- Exo mdx integrationmixed
The Exosome Diagnostics acquisition added Exo mdx and a CLIA laboratory; if the migration of Select mdx customers proceeds without losses, the portfolio could support growth.
- Reimbursement acceptancetailwind
Tests are reimbursed by Medicare and increasingly by private payors, which could speed adoption if commercial coverage keeps expanding.
- Financial pressureheadwind
Accumulated losses, OrbiMed debt and staggered Exact Sciences payments could limit investment if revenue does not grow enough.
- Clinical guidelinesmixed
Inclusion of the tests in NCCN and AUA/SUO guidelines can support clinical recommendations, though guideline changes could affect demand.
Competitive position
The company operates in molecular diagnostics, a field its own risk disclosures describe as highly competitive with rapid technological change 1. The current standard, the blood PSA test, and biopsy remain the main alternatives for physicians.
Direct competitors are not named in the source document provided, so market share comparisons cannot be drawn from this filing.
- PSA blood test (current standard)
The most used screening alternative, described by the company as non-specific for clinically significant cancer.
- Prostate biopsy
The confirmation procedure used after an elevated PSA; the company notes that some biopsies are negative or false negatives.
- Urology genomic test providers
The company mentions competition in molecular diagnostics without naming producers in the source.
- Exact Sciences
Seller of GPS mdx, with which the company has earnout obligations through 2028.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)30 Oct 2026
- Current report (foreign issuer)16 Oct 2026
- Current report (foreign issuer)03 Sept 2026
- Current report (foreign issuer)13 Aug 2026
- Current report (foreign issuer)13 Aug 2026
- Current report (foreign issuer)24 Jul 2026
- Current report (foreign issuer)02 Jul 2026
- Current report (foreign issuer)13 May 2026
- Current report (foreign issuer)30 Apr 2026
- Annual report (foreign issuer)03 Apr 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / MDxHealth SA · 03 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.