MDxHealth SA (OTC:MXDHF) Q4 2022 Earnings Conference Call March 8, 2023 4:30 PM ET

Company Participants

Michael McGarrity - CEO

Ron Kalfus - CFO

Conference Call Participants

Francois Brisebois - Oppenheimer

Mark Massaro - BTIG

Thomas Franken - KBC Securities

Operator

Greetings. Welcome to the MDxHealth Fourth Quarter and Full Year 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

Before we begin, I would like to remind everyone that we will make forward-looking statements during today's call. Whether in prepared remarks or during the Q&A session, these forward-looking statements are subject to inherent risks and uncertainties. These risks and uncertainties are detailed in the risk factors section of our filings with the Securities and Exchange Commission, specifically in the company's annual report on Form 20-F.

I will now turn the conference over to your host, Michael McGarrity, Chief Executive Officer. You may begin.

Michael McGarrity

Thanks Shamali [ph]. And thank you all for joining us for our 2022 full year release of results for MDxHealth. With me today is Ron Kalfus, Chief Financial Officer.

As you are likely aware, prostate cancer is the most common form of cancer in men. When I joined MDxHealth in 2019, my vision was to continue to build a company that answered the most important questions facing the urologist and patient. And there are three that provide the path that patients will take through diagnosis and treatment.

One, do I need a biopsy? Two, is my biopsy actually negative or do I need further confirmatory analysis of my results in order to avoid repeat biopsies? And three, a biopsy is positive, what do I do now? MDxHealth has become the only company that can answer all of these questions. Our menu of tests inform the patient and urologist through the often confounding journey and improved treatment decisions along the way.

2022 was a transformative year for MDxHealth. We began the year with a single test generating substantially all of our reported revenue. Just 12 months later, MDxHealth now has a menu of four tests, all generating or poised to generate sustainable revenue growth and drive significant operating leverage throughout 2023.

In addition, we began the year with a sales channel of 30 direct reps and finished the year with a channel of 54 direct reps as a result of the GPS acquisition. Milestone drivers of growth and value creation were reinforced with our acquisition of the Genomic Prostate Score or GPS test from Exact Sciences, which we believe has allowed us to establish a best-in-class sales team and unmatched menu to offer urologist.