February 26, 2020 / 7:18 AM / a month ago

BRIEF-MDxHealth FY Net Loss Widens To USD 43.1 Mln

Feb 26 (Reuters) - MDXHEALTH SA:

* MDXHEALTH REPORTS FINANCIAL YEAR 2019 RESULTS AND PROVIDES OUTLOOK FOR 2020

* Q4-2019 CONFIRMMDX UNIT GROWTH OF 22% OVER Q4-2018

* 2020 PROJECTED UNIT GROWTH OF OVER 20% FOR CONFIRMMDX AND SELECTMDX

* 2019 SELECTMDX UNIT GROWTH OF 61% OVER 2018 AS WELL AS ISSUANCE OF DRAFT LCD

* Q4-2019 USE OF CASH OF $3.9 MILLION, REFLECTING IMPROVED OPERATING DISCIPLINE AND CASH COLLECTIONS

* CASH AND CASH EQUIVALENTS OF $22.1 MILLION AS OF DECEMBER 31, 2019

* OPERATING EXPENSES FOR 2019 WERE $43.2 MILLION, AN IMPROVEMENT OF $5.6 MILLION COMPARED TO OPERATING EXPENSES OF $48.8 MILLION FOR 2018

* FY NET LOSS USD 43.1 MILLION VERSUS LOSS OF USD 32.5 MILLION YEAR AGO

* FY REVENUE USD 11.8 MILLION VERSUS USD 28.4 MILLION YEAR AGO

* FY OPERATING LOSS USD 43.2 MILLION VERSUS LOSS OF USD 32.1 MILLION YEAR AGO

* FOR FY 2020 SEES REVENUES OF $27-$30 MILLION, REPRESENTING AN INCREASE OF 23%-37% OVER 2019 PRO-FORMA REVENUE OF $21.9 MILLION

* MANAGEMENT BELIEVES THAT IT HAS SUFFICIENT CASH THROUGH THE FOURTH QUARTER OF 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below