The guidance suspension and 11% decline in core tissue-based test volumes are the key negatives. Monitor the November 12 earnings call for details on corrective actions and sales force stabilization. The flat revenue and cash burn rate raise concerns about near-term liquidity if growth does not resume.
Price Chart
Executive Summary
MDxHealth announced preliminary Q3 2026 revenue of $22.7M (flat YoY), suspended its full-year 2026 revenue guidance of $110-115M, and disclosed an 11% decline in tissue-based test volumes due to unexpected sales force turnover. The company's cash position is $31.7M. The guidance suspension and volume decline signal a material operational setback, making this filing bearish.
Key Facts
- Preliminary Q3 2026 revenue from continuing operations: $22.7M, flat vs $22.7M in Q3 2025 (re-presented).
- Full-year 2026 revenue guidance of $110-115M suspended.
- Tissue-based test volume (Confirm mdx and GPS mdx): 11,232, down 11% YoY.
- Liquid-based test volume (Exo mdx): 11,792 vs 4,600 in prior-year period (includes Select mdx and Exo mdx from Sept 2025 acquisition).
- Cash and cash equivalents: approximately $31.7M as of September 30, 2026.
- Sales force turnover cited as cause for revenue shortfall.
- Full Q3 results and earnings call scheduled for November 12, 2026.
Financial Impact
Revenue flat at $22.7M vs prior year; guidance of $110-115M suspended; cash $31.7M.
Risk Factors
- Sustained sales force turnover could further depress test volumes and revenue.
- Cash burn without revenue growth may necessitate dilutive financing.
- Failure to return to growth in Q4 or early 2027 could lead to further guidance reductions or covenant issues.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-109977 |
| Document: ea030882401ex99-1.htm | 0001213900-26-109977 |
| Document: 0001213900-26-109977-index-headers.html | 0001213900-26-109977 |
| Document: 0001213900-26-109977-index.html | 0001213900-26-109977 |
| Document: 0001213900-26-109977.txt | 0001213900-26-109977 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | 6-K | $0.2070 $0.1830 | ▲ +11.59% | ▲ +11.69% | $0.1924 (+7.05%) |
Oct 15, 2026 10d ago | SC 13D/A | $0.2066 $0.1833 | ▲ +11.28% | ▲ +10.85% | $0.1924 (+6.87%) |
Oct 15, 2026 10d ago | Press Release | $0.2066 $0.1833 | ▲ +11.28% | ▲ +10.85% | $0.1924 (+6.87%) |
Sep 17, 2026 5w ago | 144 | $0.6300 $0.5650 | ▲ +10.32% | ▲ +11.59% | $0.1924 (+69.46%) |
Sep 3, 2026 7w ago | 6-K | $0.7484 $0.7072 | ▲ +5.51% | ▲ +4.30% | $0.1924 (+74.29%) |
Aug 13, 2026 10w ago | 6-K | $0.8080 $0.7431 | ▲ +8.03% | ▲ +6.66% | $0.1924 (+76.19%) |
Aug 13, 2026 10w ago | Press Release | $0.8080 $0.7431 | ▼ −8.03% | ▼ −6.66% | $0.1924 (−76.19%) |
Jul 24, 2026 13w ago | 6-K | $0.4180 $0.4180 | · 0.00% | ▲ +1.07% | $0.1924 (+53.97%) |
Jul 2, 2026 16w ago | Press Release | $0.4765 $0.4899 | ▼ −2.81% | ▼ −1.88% | $0.1924 (+59.62%) |
Apr 29, 2026 25w ago | 6-K | $2.04 $2.01 | ▼ −1.47% | ▼ −3.20% | $0.1924 (−90.57%) |
US Market Status
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