MDxHealth S.A. (0O8G.L) Q3 2025 Earnings Report

MDxHealth posted Q3 2025 results with revenue of $27.433 million, a year-over-year decline of 42.9% and a quarter-over-quarter gain of 3.11%. The quarter delivered a robust gross margin of 65.16% on revenue, signaling product profitability at the gross level, but the company recorded a net loss of $8.01 million and an operating loss of $2.64 million. EBITDA stood at $0.68 million, underscoring a thin operating cushion that is still being eroded by interest and other financing costs. Despite the negative bottom line, the sequential improvement in revenue suggests some growth momentum as commercial uptake of SelectMDx and ConfirmMDx continues, albeit from a smaller revenue base. Management commentary (where available) and the quarterly cadence indicate ongoing investments in product adoption, payer engagement, and market expansion that will be critical to achieving durable profitability. Investors should monitor revenue trajectory, control of operating expenses, and the scalability of the diagnostic portfolio as primary near-term catalysts. Given the absence of explicit forward guidance in the provided data, the outlook remains contingent on clinical uptake, reimbursement dynamics, and the ability to convert gross margin into sustained net profitability.