Earnings summaries and quarterly performance for TransMedics Group.
Executive leadership at TransMedics Group.
Waleed H. Hassanein, M.D.
Detailed
President and Chief Executive Officer
CEO
AR
Anil Ranganath
Detailed
Senior Vice President, General Counsel and Corporate Secretary
GH
Gerardo Hernandez
Detailed
Chief Financial Officer and Treasurer
NC
Nicholas Corcoran
Detailed
Senior Vice President of Supply Chain and Operations
TK
Tamer Khayal, M.D.
Detailed
Chief Commercial Officer
Board of directors at TransMedics Group.
Research analysts who have asked questions during TransMedics Group earnings calls.
DR
David Rescott
Baird
6 questions for TMDX
Also covers: HAE, INSP, IRTC +7 more
JJ
Joshua Jennings
TD Cowen
6 questions for TMDX
Also covers: ABT, ALUR, ATEC +21 more
SK
Suraj Kalia
Oppenheimer & Co. Inc.
6 questions for TMDX
Also covers: ABT, AORT, ATRC +14 more
AG
Allen Gong
JPMorgan Chase & Co.
5 questions for TMDX
Also covers: ESTA, GEHC, GKOS +3 more
MO
Matthew O'Brien
Piper Sandler & Co.
4 questions for TMDX
Also covers: APYX, ATEC, ATRC +18 more
Chris Pasquale
Nephron Research LLC
3 questions for TMDX
Also covers: ALC, AXGN, BSX +9 more
Michael Matson
Needham & Company
3 questions for TMDX
Also covers: AORT, ATRC, CNMD +22 more
Mike Matson
Needham & Company, LLC
3 questions for TMDX
Also covers: AORT, ATRC, CNMD +19 more
William Plovanic
Canaccord Genuity
3 questions for TMDX
Also covers: ATRC, CBLL, CVRX +9 more
Zachary Day
Canaccord Genuity
3 questions for TMDX
Also covers: ATRC, DXCM
Christopher Pasquale
Nephron Research
2 questions for TMDX
Also covers: ALC, AXGN, BSX +12 more
DM
Daniel Markowitz
Evercore ISI
2 questions for TMDX
Also covers: GH, INSP, NTRA +3 more
CG
Cecilia Gong
JPMorgan Chase & Co.
1 question for TMDX
Justin Lang
Morgan Stanley
1 question for TMDX
Also covers: CW, GOGO, IRDM +4 more
Matthew Mardula
William Blair
1 question for TMDX
Also covers: ASTH, HCSG, LFST +2 more
RD
Ryan Daniels
William Blair & Company, L.L.C.
1 question for TMDX
Also covers: ACCD, AGL, ALHC +12 more
SM
Samantha Munoz
Piper Sandler Companies
1 question for TMDX
Also covers: ATEC, CVRX, PEN +1 more
XW
Xuesong Wang
Morgan Stanley
1 question for TMDX
Also covers: SONX
Recent press releases and 8-K filings for TMDX.
TransMedics details Q4 2025 impact from deferred tax valuation allowance release
TMDX
Accounting Changes
Earnings
- In Q4 2025, TransMedics released a $103.3 million U.S. tax valuation allowance, resulting in a net income tax benefit of $83.8 million for the quarter.
- This release drove reported Q4 net income to $105.4 million and diluted EPS to $2.62; adjusted for the tax event, net income would have been $17.5 million and diluted EPS $0.47.
- The annual effective tax rate for 2025 was (77.0)%, but excluding the valuation allowance release, it would have been 19.1%.
- The company expects future quarterly income tax provisions to align more closely with U.S. statutory rates.
12 hours ago
TransMedics provides details on Q4 2025 tax valuation allowance impact
TMDX
Accounting Changes
Earnings
Guidance Update
- TransMedics Group, Inc. released a $103.3 million U.S. tax valuation allowance in the fourth quarter of 2025, which resulted in a net income tax benefit of $83.8 million.
- This release led to a reported net income of $105.4 million and net income per diluted share of $2.62 for Q4 2025.
- Without the impact of the valuation allowance release, the adjusted Q4 2025 net income would have been $17.5 million and net income per diluted share $0.47.
- The company's annual effective tax rate in 2025 was (77.0)%, but would have been 19.1% without the allowance release.
- TransMedics anticipates future quarterly income tax provisions to be more in line with U.S. statutory corporate income tax rates.
14 hours ago
TransMedics Group Reports Strong Q4 and Full Year 2025 Results, Issues 2026 Guidance
TMDX
Earnings
Guidance Update
New Projects/Investments
- TransMedics Group reported strong financial results for Q4 and full year 2025, with Q4 revenue of $160.8 million (up 32% year-over-year) and full year revenue of $605.5 million (up 37% year-over-year). The company ended 2025 with $488.4 million in cash and cash equivalents.
- For the full year 2026, TransMedics provided revenue guidance of $727 million to $757 million, indicating 20%-25% growth over 2025. Operating margins are projected to be up to 250 basis points below 2025 levels in 2026 due to significant investments in R&D and clinical programs, but are expected to approach 30% by 2028.
- The company achieved significant operational growth, with 5,139 U.S. OCS transplants performed in 2025 (up from 3,735 in 2024), representing approximately 26% of total U.S. heart, lung, and liver transplants. Transplant logistics service revenue also grew 32% year-over-year in Q4 2025 to $28.6 million.
3 days ago
TransMedics Group Reports Strong Q4 and Full Year 2025 Results, Issues 2026 Revenue Guidance
TMDX
Earnings
Guidance Update
New Projects/Investments
- TransMedics Group reported strong financial results for Q4 and full year 2025, with Q4 2025 total revenue of $160.8 million and full year 2025 total revenue of $605.5 million, representing approximately 32% and 37% year-over-year growth, respectively.
- For the full year 2025, the company achieved an operating profit of $108.6 million (18% of total revenue) and diluted earnings per share of $4.87, with net profit of $490 million including an $83.8 million income tax benefit.
- The company issued full year 2026 revenue guidance of $727 million to $757 million, projecting 20%-25% growth over 2025, though operating margins are expected to be up to 250 basis points below 2025 levels in 2026 due to significant investments.
- The OCS NOP program significantly contributed to growth, facilitating 5,139 U.S. OCS transplants in 2025, which accounted for approximately 26% of total U.S. heart, lung, and liver transplants.
- Strategic initiatives for future growth include the OCS and Enhanced Heart Program, OCS De Novo Lung Program, expansion of the NOP model to Europe, and the development of the OCS Kidney Program on the new OCS Gen 3.0 technology platform.
3 days ago
TransMedics Group Announces Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance
TMDX
Earnings
Guidance Update
New Projects/Investments
- TransMedics Group reported total revenue of $160.8 million for Q4 2025, representing approximately 32% growth year-over-year, and full-year 2025 total revenue of $605.5 million, an approximately 37% growth over 2024.
- For the full-year 2025, the company achieved an operating profit of $108.6 million, which was approximately 18% of total revenue, and concluded the year with approximately $488.4 million in cash and cash equivalents.
- Net income for Q4 2025 was $105 million, significantly boosted by an $83.8 million income tax benefit from the release of a valuation allowance on deferred tax assets, leading to diluted earnings per share of $2.62 for the quarter and $4.87 for the full-year 2025.
- The company provided full-year 2026 revenue guidance between $727 million and $757 million, indicating 20%-25% growth over 2025, with operating margins expected to be up to 250 basis points below 2025 full-year levels due to substantial investments in clinical programs and R&D.
- In 2025, OCS was responsible for 5,139 U.S. transplants, accounting for approximately 26% of the total U.S. heart, lung, and liver transplants, and the company is actively investing in expanding its OCS NOP program, including the Enhanced Heart Program and a de novo lung clinical program.
3 days ago
TransMedics Announces Q4 2025 Results and 2026 Revenue Guidance
TMDX
Earnings
Guidance Update
Revenue Acceleration/Inflection
- TransMedics reported Q4 2025 total revenue of $160.8 million, reflecting a 32.2% year-over-year growth.
- The company achieved a net income of $105.4 million in Q4 2025, an increase of $98.5 million year-over-year.
- Operating margin for Q4 2025 was 13.2%, up 6.1 percentage points year-over-year.
- TransMedics ended Q4 2025 with $488.4 million in total cash, an increase of $22.2 million quarter-over-quarter.
- For 2026, the company provided revenue guidance of $727 million to $757 million, representing a 20% to 25% growth.
3 days ago
TransMedics Reports Strong Q4 and Full Year 2025 Financial Results with Positive 2026 Outlook
TMDX
Earnings
Guidance Update
Revenue Acceleration/Inflection
- TransMedics Group, Inc. reported total revenue of $160.8 million for the fourth quarter of 2025, a 32% increase compared to the fourth quarter of 2024, and $605.5 million for the full year 2025, a 37% increase compared to the full year 2024.
- Net income for Q4 2025 was $105.4 million, or $2.62 per diluted share, and for the full year 2025 was $190.3 million, or $4.87 per diluted share. These figures include a significant net income tax benefit of $83.8 million in Q4 2025 and $82.8 million for the full year 2025, primarily due to the release of a valuation allowance related to deferred tax assets.
- The company completed 5,139 U.S. OCS cases in the full year 2025, representing a 38% increase compared to 3,735 cases in the full year 2024.
- TransMedics expects total revenue for the full year 2026 to be in the range of $727 million to $757 million, which represents 20% to 25% growth compared to the prior year.
3 days ago
TransMedics Group Reports Fourth Quarter and Full Year 2025 Financial Results
TMDX
Earnings
Guidance Update
Revenue Acceleration/Inflection
- TransMedics Group reported total revenue of $160.8 million in the fourth quarter of 2025, a 32% increase compared to Q4 2024, and $605.5 million for the full year 2025, a 37% increase compared to FY 2024.
- The company generated net income of $105.4 million, or $2.62 per diluted share, in the fourth quarter of 2025, and $190.3 million, or $4.87 per diluted share, for the full year 2025. These figures include significant net income tax benefits.
- TransMedics completed 5,139 U.S. OCS cases in full year 2025, a 38% increase compared to 2024, and owned 22 aircraft as of December 31, 2025.
- For the full year 2026, TransMedics expects total revenue to be in the range of $727 million to $757 million, representing 20% to 25% growth compared to 2025.
3 days ago
TransMedics Secures Full FDA IDE Approval for Next-Generation OCS ENHANCE Heart Trial
TMDX
Product Launch
New Projects/Investments
- TransMedics Group, Inc. (Nasdaq: TMDX) announced full FDA approval of its Investigational Device Exemption (IDE) for the Next-Generation OCS ENHANCE Heart trial.
- This approval follows the full FDA approval of the Next-Generation OCS DENOVO Lung IDE trial in January 2026 and conditional IDE approval for the ENHANCE Heart trial in August 2025.
- The OCS ENHANCE Heart trial is a two-part clinical trial with an expected total sample size exceeding 650 patients, designed to demonstrate the superiority of OCS Heart perfusion for heart transplantation.
- The company's CEO, Waleed Hassanein, stated that these approvals allow them to focus on trial execution and patient enrollment, anticipating the trials' outcomes to be major catalysts for heart and lung adoption in 2026 and beyond.
Feb 9, 2026, 1:00 PM
TransMedics Discusses Growth Strategy, Clinical Trials, and Financial Targets at J.P. Morgan Conference
TMDX
Product Launch
New Projects/Investments
Guidance Update
- TransMedics is advancing its Organ Care System (OCS) technology with the planned introduction of the OCS Kidney platform (Gen3 technology) by late 2026 or early 2027, and recently secured unconditional FDA approval for the OCS Lung de Novo trial on January 12, 2026.
- The company achieved high organ utilization rates through its National OCS Program (NOP) as of 2024 year-end: Liver 98%, Heart 97%, and Lung 96%, which are noted as the highest reported in the history of organ transplant.
- TransMedics outlined significant growth targets, aiming for 10,000 US transplants by 2028, 20,000 US transplants by 2030 (incorporating kidney), and 30,000 global transplants by 2032 through continued US expansion and new international markets like Italy.
- Financially, TransMedics targets a long-term gross margin of approximately 60% and an operating margin approaching 30% by 2028, supported by its scalable operating model and international growth initiatives.
Jan 12, 2026, 11:00 PM
Quarterly earnings call transcripts for TransMedics Group.
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