MDxHealth Reports Half Year 2020 Results - Seite 2

Summary of billable test volume by product

Product	Half Year Ended June 30,
	2020	2019	% Change
ConfirmMDx	7,662	8,732	(12)%
SelectMDx	6,485	12,528	(48)%

Financial review for the half year ended June 30, 2020

USD in thousands (except per share data) Unaudited	Half Year Ended June 30
	2020	2019	% Change
Product revenue	9,596	10,571	(9)%
Royalties, patents and other income	284	302	(6)%
Total Revenue	9,880	10,873	(9)%
Gross Profit	4,686	4,964	(6)%
Operating expenses	(17,674)	(18,827)	(6)%
Operating loss	(12,988)	(13,863)	(6)%
Net loss	(13,709)	(14,138)	(3)%
Basic and diluted loss per share	(0.18)	(0.24)	(23)%

Total revenue for the first half of 2020 was $9.9 million compared to total revenue of $10.9 million for the first half of 2019. Revenue from ConfirmMDx and SelectMDx amounted to $9.6 million, a decrease of 9% as compared to $10.6 million a year earlier. Revenue from ConfirmMDx represented over 90% of product revenue for all periods.

Gross profit on products and services for the first half of 2020 was $4.7 million as compared to $5.0 million for the first half of 2019.  Gross margins on products and services were 47.4% for the first half of 2020 as compared to 45.7% for the same period in 2019, representing a gross margin improvement of 180 basis points. 

Operating expenses in the first half of 2020 were $17.7 million, an improvement of $1.1 million, or 6%, over the same period last year, primarily the result of consistent and continued operating discipline. Excluding non-cash expenses such as depreciation, amortization and stock-based compensation, operating expenses for H1-2020 were $15.3 million, an improvement of $1.5 million, or 9%, over H1-2019.