MDxHealth SA has reported preliminary revenue figures for the third quarter of 2026, indicating a stagnation in growth and the suspension of its full-year revenue guidance. The company, which specializes in urology-focused precision diagnostics, announced that it expects to report approximately $22.7 million in revenue from continuing operations for Q3 2026. This figure is unchanged from the same period in 2025, raising concerns about the company's performance and market position.
According to the press release dated October 15, 2026, the company faced challenges during the quarter, particularly following the discontinuation of its Resolve mdx test. This decision led to unexpected turnover within its sales force, influenced by aggressive recruitment from competitors. CEO Michael K. McGarrity noted, "Third quarter revenue fell short of our expectations," highlighting the impact of these changes on the company's sales performance.
MDxHealth's test volumes also reflected a mixed performance. The company reported a decrease of 11% in tissue-based test volume, totaling 11,232 tests, while liquid-based test volume increased significantly to 11,792 from 4,600 in the previous year. This increase is attributed to the acquisition of Select mdx and Exo mdx, which were included in the prior year's figures.
As of September 30, 2026, MDxHealth reported cash and cash equivalents of approximately $31.7 million. The company has suspended its full-year revenue guidance, which was previously set between $110 million and $115 million. This suspension signals potential difficulties in achieving its financial targets for the year.
McGarrity emphasized the company's commitment to addressing the challenges it faces, stating, "We are focused on fortifying impacted territories and returning to consistent execution." He expressed confidence in the company's reputation with its customer base and the underlying clinical demand for its products. MDxHealth plans to provide further details on its corrective actions and progress during its upcoming earnings call scheduled for November 12, 2026.
The preliminary financial information shared in the release is unaudited and subject to change upon completion of the company’s financial close and review procedures. The company’s independent registered public accounting firm has not audited or reviewed this preliminary information, and actual results may differ from these estimates.
MDxHealth SA, incorporated in Belgium, operates in the medical laboratory services sector, focusing on providing actionable molecular information for the diagnosis and treatment of urologic diseases, particularly prostate cancer. The company’s proprietary tests utilize genomic, epigenomic, and exosomal technologies to assist healthcare providers.
As MDxHealth navigates these challenges, competitors in the medical laboratory services industry will be closely monitoring the company's next steps and its ability to stabilize its sales force and return to growth.