MDxHealth (MDXH) 6-K Report of Foreign Private Issuer

Exhibit 99.2

MDxHealth SA and Subsidiaries

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE INCOME

	Three Months Ended September 30,						Nine Months Ended September 30,
In thousands of $ (except per share amounts)	2023			2022			2023			2022
Services		19,340			11,136			50,685			24,111
Royalties and other revenues		10			18			110			52
Revenues		19,350			11,154			50,795			24,163
Cost of goods & services sold		(6,797	)		(4,931	)		(19,537	)		(12,168	)
Gross profit		12,553			6,223			31,258			11,995
Research and development expenses		(2,350	)		(2,167	)		(6,910	)		(5,752	)
Selling and marketing expenses		(9,389	)		(7,771	)		(28,418	)		(17,619	)
General and administrative expenses		(5,387	)		(8,100	)		(16,297	)		(17,736	)
Other operating income (expense), net		12			(115	)		(654	)		159
Operating loss		(4,561	)		(11,930	)		(21,021	)		(28,953	)
Financial expenses, net		(5,484	)		(1,701	)		(11,359	)		(2,781	)
Loss before income tax		(10,045	)		(13,631	)		(32,380	)		(31,734	)
Income tax		0			129			0			128
Loss for the period		(10,045	)		(13,502	)		(32,380	)		(31,606	)
Loss per share attributable to parent
Basic and diluted, $		(0.04	)		(0.08	)		(0.13	)		(0.20	)

Unaudited condensed consolidated statement of comprehensive income

Loss for the period	(10,045	)	(13,502	)	(32,380	)	(31,606	)
Other comprehensive income (loss)
Items that will be reclassified to profit or loss:
Exchange differences arising from translation of foreign operations	174		232		(25	)	693
Total other comprehensive income (loss)	174		232		(25	)	693
Total comprehensive loss for the period (net of tax)	(9,871	)	(13,270	)	(32,405	)	(30,913	)

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

In thousands of $	September 30, 2023			December 31, 2022
ASSETS
Goodwill		35,926			35,926
Intangible assets		44,414			46,166
Property, plant and equipment		5,096			3,791
Right-of-use assets		4,674			4,103
Non-current assets		90,110			89,986
Inventories		2,868			2,327
Trade receivables		8,571			9,357
Prepaid expenses and other current assets		1,470			1,962
Cash and cash equivalents		32,714			15,503
Current assets		45,623			29,149
TOTAL ASSETS		135,733			119,135
EQUITY
Share capital		173,053			133,454
Issuance premium		153,177			153,177
Accumulated deficit & other reserves		(319,848	)		(288,346	)
Share-based compensation		11,931			11,474
Translation reserve		(469	)		(444	)
Total equity		17,844			9,315
LIABILITIES
Loans and borrowings		35,367			34,914
Lease liabilities		3,329			3,091
Other non-current financial liabilities		60,344			53,537
Non-current liabilities		99,040			91,542
Loans and borrowings		642			616
Lease liabilities		1,394			1,172
Trade payables		8,947			10,178
Other current liabilities		5,367			3,985
Other current financial liabilities		2,499			2,327
Current liabilities		18,849			18,278
Total liabilities		117,889			109,820
TOTAL EQUITY AND LIABILITIES		135,733			119,135

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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Attributable to owners of MDxHealth SA

In thousands of $, except number of shares	Number of shares		Share capital and issuance premium		Accumulated deficit & other reserves			Share-based compensation		Foreign currency translation reserves			Total equity
Balance at January 1, 2022		155,969,226		281,631		(244,302	)		10,607		(1,037	)		46,899
Loss for the period						(31,606	)							(31,606	)
Other comprehensive income											693			693
Total comprehensive income for the period						(31,606	)				693			(30,913	)
Transactions with owners in their capacity as owners:
Issuance of shares, net of transaction costs		6,911,710		5,000										5,000
Share-based compensation									492					492
Balance at September 30, 2022		162,880,936		286,631		(275,908	)		11,099		(344	)		21,478
Balance at January 1, 2023		162,880,936		286,631		(288,346	)		11,474		(444	)		9,315
Loss for the period						(32,380	)							(32,380	)
Other comprehensive income											(25	)		(25	)
Total comprehensive income for the period						(32,380	)				(25	)		(32,405	)
Transactions with owners in their capacity as owners:
Issuance of shares, net of transaction costs		107,500,000		39,599										39,599
American Depositary Shares grant						878								878
Share-based compensation									457					457
Balance at September 30, 2023		270,380,936		326,230		(319,848	)		11,931		(469	)		17,844

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UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

	Nine months ended September 30,
In thousands of $	2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES
Operating loss		(21,021	)		(28,953	)
Depreciation and amortization		5,277			2,873
Share-based compensation		457			492
Other non-cash transactions		276			201
Cash used in operations before working capital changes		(15,011	)		(25,387	)
Decrease in inventories		(541	)		(617	)
Decrease / (increase) in receivables		1,278			(4,820	)
Increase in payables		151			6,429
Net cash outflow from operating activities		(14,123	)		(24,395	)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment		(2,399	)		(1,457	)
Purchase of intangible assets		(1,612	)		465
Acquisition of Genomic Prostate Score business		0			(25,000	)
Interests received		756			35
Net cash outflow from investing activities		(3,255	)		(25,957	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of shares, net of transaction costs		39,599			0
Proceeds from loan obligation		0			33,264
Repayment of loan obligations		(989	)		(10,758	)
Payment of transaction costs and debt extinguishment costs		(250	)		0
Leases repaid		(1,121	)		(1,009	)
Payment of interest		(2,666	)		(671	)
Net cash inflow from financing activities		34,573			20,826
Net increase / (decrease) in cash and cash equivalents		17,195			(30,456	)
Cash and cash equivalents at beginning of the period		15,503			58,498
Effect of exchange rates		16			(674	)
Cash and cash equivalents at end of the period		32,714			27,368

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