MDxHealth S.A. (MDXH) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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MDXH Revenue Growth
Revenue Breakdown (FY 2023)
MDXH's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
By Geography
MDXH Revenue Analysis (2013–2024)
As of May 8, 2026, MDxHealth S.A. (MDXH) generated trailing twelve-month (TTM) revenue of $182.0 million, reflecting exceptional growth of +26.7% year-over-year. The most recent quarter (Q2 2025) recorded $53.2 million in revenue, up 10.7% sequentially.
Looking at the longer-term picture, MDXH's 5-year compound annual growth rate (CAGR) stands at +50.2%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $90.0 million in 2024, representing a new all-time high.
Revenue diversification analysis shows MDXH's business is primarily driven by Services Member (100%). With over half of revenue concentrated in Services Member, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including EXAS (+17.7% YoY), VCYT (+16.9% YoY), and NTRA (+35.9% YoY), MDXH has underperformed the peer group in terms of revenue growth. Compare MDXH vs EXAS →
MDXH Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MDXHCurrent | $182M | +26.7% | +50.2% | -27.5% | |
 EXAS | $3.2B | +17.7% | +16.8% | -6.4% | |
 VCYT | $517M | +16.9% | +34.5% | 14.3% | |
 NTRA | $2.3B | +35.9% | +42.6% | -13.4% | |
 QDEL | $2.7B | -3.9% | +10.4% | -33.7% | |
 ILMN | $4.3B | +1.2% | +6.0% | 19.9% |
MDXH Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $90.0M | +28.3% | $55.1M | 61.2% | $-24,722,000 | -27.5% |
| 2023 | $70.2M | +89.4% | $43.9M | 62.6% | $-27,327,000 | -38.9% |
| 2022 | $37.1M | +66.6% | $19.2M | 51.9% | $-37,900,000 | -102.3% |
| 2021 | $22.2M | +20.5% | $10.6M | 47.5% | $-26,841,000 | -120.7% |
| 2020 | $18.5M | +56.6% | $8.0M | 43.6% | $-27,123,000 | -146.9% |
| 2019 | $11.8M | -58.4% | $-144,000 | -1.2% | $-43,169,000 | -366.3% |
| 2018 | $28.3M | -30.0% | $16.7M | 58.9% | $-32,098,000 | -113.3% |
| 2017 | $40.5M | +35.6% | $30.3M | 74.8% | $-12,274,000 | -30.3% |
| 2016 | $29.9M | +71.0% | $19.8M | 66.2% | $-12,846,000 | -43.0% |
| 2015 | $17.5M | +52.2% | $10.6M | 60.5% | $-14,382,000 | -82.3% |
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Start ComparisonMDXH — Frequently Asked Questions
Quick answers to the most common questions about buying MDXH stock.
Is MDXH's revenue growth accelerating or slowing?
MDXH revenue is accelerating at +26.7% year-over-year, exceeding the 5-year CAGR of +50.2%. TTM revenue reached $182M. Growth momentum has increased versus prior periods.
What is MDXH's long-term revenue growth rate?
MDxHealth S.A.'s 5-year revenue CAGR of +50.2% reflects the sustained expansion pattern. Current YoY growth of +26.7% is above this long-term average.
How is MDXH's revenue distributed by segment?
MDXH reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.