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<b>Background:</b> Spirometry-based methacholine challenge testing using the provocative dose causing a 20% decline in forced expiratory volume in 1 s (FEV<sub>1</sub>, PD<sub>20</sub>) is a reference method for assessing airway hyperresponsiveness. Impulse oscillometry (IOS), performed during tidal breathing, may capture airway mechanical changes not fully reflected by spirometry. We compared FEV<sub>1</sub>- and IOS-based methacholine responsiveness in a large, real-world adult cohort and examined associations with clinical markers and symptoms. <b>Methods:</b> We analyzed 794 consecutively referred adults undergoing standardized methacholine challenge testing with concurrent spirometry and IOS. IOS positivity was defined as a ≥40% increase in resistance at 5 Hz (ΔR<sub>5</sub> ≥ 40%). Agreement between FEV<sub>1</sub>-PD<sub>20</sub> positivity (PD<sub>20</sub> ≤ 1440 µg) and IOS positivity was evaluated using cross-classification and Cohen's κ. Associations between continuous responses were assessed using Pearson and Spearman correlations. The relationship between ΔR<sub>5</sub> and the probability of a ≥20% decline in FEV<sub>1</sub> was examined using logistic regression. Predictors of ΔR<sub>5</sub> were assessed using multivariable linear regression. Symptom severity was recorded immediately post-challenge using a five-point Likert scale and related to physiological responses. <b>Results:</b> FEV<sub>1</sub>-PD<sub>20</sub> classified 37.5% of participants as hyperresponsive, whereas IOS positivity (ΔR<sub>5</sub> ≥ 40%) classified 70.6%. Agreement between methods was limited (κ = 0.09; <i>p</i> < 0.01). ΔFEV<sub>1</sub> and ΔR<sub>5</sub> were weakly correlated (r = -0.287; ρ = -0.306; both <i>p</i> < 0.001; R<sup>2</sup> = 0.08). A 20% decline in FEV<sub>1</sub> corresponded on average to a 74% increase in R<sub>5</sub>, whereas ΔR<sub>5</sub> ≥ 40% corresponded to an average FEV<sub>1</sub> decline of 7.6%. In multivariable models, referral diagnosis group and age independently predicted ΔR<sub>5</sub>, whereas FeNO and baseline FEV<sub>1</sub>% predicted did not. Baseline FEV<sub>1</sub>% predicted modified the ΔFEV<sub>1</sub>-ΔR<sub>5</sub> slope (interaction β = -0.0317; <i>p</i> = 0.0028). Post-challenge symptom (5-point Likert) related to MCT was associated with both ΔFEV<sub>1</sub> and IOS responses; ΔFEV<sub>1</sub> showed a stronger linear association with symptoms, whereas IOS measures showed larger stepwise differences across symptom categories. <b>Conclusions:</b> IOS identifies a larger, partly distinct subset of methacholine-responsive individuals compared with conventional FEV<sub>1</sub>-PD<sub>20</sub> criteria and detects mechanical changes at lower levels of spirometric impairment. Despite limited concordance, IOS provides complementary physiological and symptom-relevant information when used alongside spirometry. Standardized IOS response definitions and prospective validation are needed to establish clinical utility.