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TransMedics Group Inc (TMDX)
NASDAQ:TMDX
Earnings Data
Report Date
May 05, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.65Last Year’s EPS
0.7Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operational and financial momentum: robust revenue growth (Q4 +32% YoY; FY +37%), expanded operating margins, a healthy cash balance (~$488M), large increases in OCS clinical volume (5,139 U.S. OCS transplants in 2025) and clear growth catalysts across clinical programs, next-generation platforms and international rollout. Notable near-term risks include Q4 gross margin pressure, a significant one-time tax benefit inflating net income, low lung adoption, potential trial delays due to competitive dynamics in ENHANCE Part B, and planned 2026 investments that will compress margins temporarily. On balance, the positives — scalable revenue growth, margin expansion at scale, strong cash position and accelerating clinical adoption in liver and heart — outweigh the lowlights, though execution on trials, international buildout and operational scaling remains critical.Company Guidance
Strong Revenue Growth (Q4 and Full Year 2025)
Q4 2025 total revenue of $160.8M (reported ~ $161M) representing ~32% year-over-year growth and ~12% sequential growth versus Q3 2025; Full year 2025 revenue $605.5M, up ~37% year-over-year.
Improved Profitability and Operating Leverage
Full year 2025 operating profit of ~$108.6M (~18% of revenue) with operating margin expansion from 8.5% in 2024 to 18% in 2025; Q4 2025 operating profit ~$21.3M (~13.2% of Q4 revenue).
Strong Cash Position
Ended 2025 with ~$488.4M in cash and cash equivalents, up $22M from September 30, 2025, supporting continued investment and optionality.
Large Increase in OCS Clinical Volume and Market Impact
Total U.S. OCS transplants in 2025 totaled 5,139, up from 3,735 in 2024; OCS represented ~26% of U.S. liver/heart/lung transplants in 2025 (versus ~20% in 2024); company asserts U.S. transplant volumes for these organs grew 25% since 2022 including OCS (would have declined ~1% without OCS).
Organ-Level Adoption — Liver and Heart Momentum
OCS Liver: 4,197 cases in 2025 representing ~36% of overall U.S. liver volume (up from 26% in 2024); OCS Heart: 854 cases (~18% of heart volume, modestly up from 17%).
Product and Service Revenue Strength
Q4 product revenue ~$100M (up ~34% YoY, +15% sequential) and service revenue ~$60M (up ~29% YoY, +8% sequential); full year product revenue $372M and service revenue $233M.
Logistics and Operational Expansion
Transplant logistics service revenue Q4 ~$28.6M, up ~32% YoY and ~5% sequentially; owned and operated 22 aircraft by year-end and maintained ~80% coverage of NOP missions requiring air transport (vs 75% in 2024).
International Progress and Guidance
International revenue showing early growth (Q4 international ~$4.8M, +24% YoY, +33% sequential; full year $16.7M, +9.3% YoY); 2026 revenue guidance of $727M–$757M (+20%–25% vs 2025) with long-term gross margin target around ~60%.
Pipeline and Platform Investments
Ongoing clinical programs (ENHANCE Heart Part A/B, DENOVO Lung), OCS Kidney development and OCS Gen 3.0 platform development underway; company expects these to be major near-, mid- and long-term growth catalysts.
TMDX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TMDX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 27, 2026 | $145.26 | ― | ― |
Oct 29, 2025 | $134.32 | $135.79 | +1.09% |
Jul 30, 2025 | $107.70 | $118.97 | +10.46% |
May 08, 2025 | $93.20 | $111.50 | +19.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does TransMedics Group Inc (TMDX) report earnings?
TransMedics Group Inc (TMDX) is schdueled to report earning on May 05, 2026, After Close (Confirmed).
What is TransMedics Group Inc (TMDX) earnings time?
TransMedics Group Inc (TMDX) earnings time is at May 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TMDX EPS forecast?
TMDX EPS forecast for the fiscal quarter 2026 (Q1) is 0.65.