TMDX
TransMedics Group, Inc.125.04
+1.89+1.53%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
ENHANCE Part B hits rival resistance
Q&A surfaced competitive friction in ENHANCE Heart Part B, with cold storage box makers refusing randomization against OCS, though management is confident in a bypass plan that might add months. Transient Q4 heart and lung softness stemmed from trial ramps and center activities, set to reverse with ENHANCE and DENOVO. NOP Connect 2.0 now powers most cases, delivering early efficiencies in billing and management. Half of 2026's added OpEx is transitory for trials, Kidney, and Gen3. Competitors refuse OCS matchup. Management stayed bullish on guidance amid OPO reforms they support for bigger role.
Key Stats
Market Cap
4.27BP/E (TTM)
49.23Basic EPS (TTM)
2.54Dividend Yield
0%Recent Filings
8-K
Valuation allowance released
TransMedics released a $103.3 million U.S. valuation allowance on deferred tax assets in Q4 2025, triggering an $83.8 million tax benefit that boosted net income to $105.4 million ($2.62/share) from pre-tax income of $21.6 million. Without it, adjusted net income lands at $17.5 million ($0.47/share) using a 19.1% rate. Future quarters expect tax provisions near U.S. statutory rates. Valuation shifts fast.
8-K
Revenue surges 37% to $605.5M
TransMedics crushed Q4 and full-year 2025 with revenue jumping 32% to $160.8M and 37% to $605.5M, driven by 38% more U.S. OCS cases at 5,139. Net income hit $190.3M, boosted by an $83M tax benefit from releasing deferred tax asset valuation allowance, while gross margins ticked up to 60%. Growth accelerates. Guides 2026 revenue to $727M-$757M amid NOP push.
10-K
FY2025 results
TransMedics posted $605.5 million in revenue for FY2025 ended December 31, 2025, up 37.1% year-over-year from $441.5 million in 2024, driven by OCS disposables and NOP services. Quarterly breakdowns not disclosed in the 10-K, but NOP expansion and next-gen OCS Heart trial launch in Q4 signal strong momentum. R&D expenses climbed to $69.1 million, fueling Gen-3 platform and OCS Kidney development. NOP logistics grew via owned aircraft. Cash flow details unavailable. Quarterly results fluctuate sharply.
8-K
Exec leadership transitions
TransMedics appointed Giovanni Cecere as Chief Commercial Officer effective February 2, 2026, succeeding Tamer Khayal, M.D., who shifts to Senior Vice President of International. Matthew Forsyth takes over as SVP, General Counsel & Corporate Secretary from March 9, 2026, with Anil Ranganath transitioning to non-executive roles through September 2026. Leadership realigns smoothly. Ranganath secures severance and vesting equity.
8-K
TransMedics leases 498k sq ft HQ
TransMedics inked a lease for 498k sq ft at 188 Assembly Park Drive, Somerville, MA, with BioMed Realty on Jan 8, 2026; rent kicks in ~Jan 2028 at $23.9M annually, rising 2%, for 16 years. New HQ replaces Andover site, hosts R&D, labs, manufacturing, vivarium. Same day, bought two adjacent parcels for $15M each. Landlord can terminate on uncured breach.
AEMD
Aethlon Medical, Inc.
2.94-0.11
BSX
Boston Scientific Corporation
92.95+0.76
MDT
Medtronic plc.
97.72-0.85
MDXG
MiMedx Group, Inc
7.25+0.13
RMD
ResMed Inc.
247.34-5.73
RMTG
Regenerative Medical Technology
0.04+0.00
SENS
Senseonics Holdings, Inc.
6.62-0.17
TCMD
Tactile Systems Technology, Inc
28.95+0.52
TELA
TELA Bio, Inc.
1.18+0.05
VMD
Viemed Healthcare, Inc.
7.26-0.11