Mdxhealth Q1 Revenue Up 13% to $27.4M, Discontinues Resolve UTI
Mdxhealth posted Q1 revenue of $27.4 million, up 13% year-over-year, and adjusted core revenue excluding Resolve rose 11% to $23.9 million. The company will discontinue its Resolve UTI business, recalibrate operations around prostate cancer tests, and set 2026 core revenue guidance of $110–115 million (20–26% growth).
1. Financial Performance
Mdxhealth delivered Q1 revenue of $27.4 million, a 13% increase over the prior year, with pro-forma adjusted core revenue of $23.9 million, up 11%. Tissue-based test volume fell 12% to 11,110 units, while liquid-based volume rose 128% to 26,235 units. The net loss narrowed to $8.9 million, adjusted EBITDA loss widened to $4.3 million, and cash ended at $43.2 million.
2. Resolve UTI Discontinuation
Following an unexplained Medicare reimbursement policy reversal, the company will discontinue its Resolve UTI testing and close its Plano, Texas lab. This exit aims to eliminate reimbursement volatility and reallocate resources toward higher-value cancer diagnostics.
3. Prostate Diagnostics and AI Focus
Mdxhealth is concentrating on its prostate cancer precision diagnostics, including the PROTECT trial with Oxford University that features AI-enhanced endpoints for its GPS test. The firm has launched an AI strategic initiative to build a data platform leveraging hundreds of thousands of biopsy specimens and partnered on digital innovations to enhance clinical value.
4. Updated 2026 Guidance
Excluding Resolve, mdxhealth set 2026 core cancer revenue guidance of $110–115 million, implying 20%–26% year-over-year growth. The streamlined focus on prostate cancer diagnostics and AI-driven efficiency improvements underpin this updated outlook.