TransMedics Group, Inc. TMDX

Healthcare SIC 3845 - Electromedical & Electrotherapeutic Apparatus NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing derived Nasdaq

We are a medical technology company transforming organ transplant therapy for end-stage organ failure patients across multiple disease states. We developed the OCS to replace a decades-old standard of care that we believe is significantly limiting access to life-saving transplant therapy for hundreds of thousands of patients worldwide. Our innovative OCS technology replicates many aspects of the organ's natural living and functioning environment outside of the human body. As such, the OCS represents a paradigm shift that transforms organ preservation for transplantation from a static state to a dynamic environment that enables new capabilities, including organ optimization and assessment. We have also developed our NOP, an innovative turnkey solution to provide outsourced organ procurement, OCS perfusion management and transplant logistics services, to provide transplant programs in the United States with a more efficient process to procure donor organs with the OCS. Our transplant logistics services include aviation transportation, ground transportation, and other coordination activity. We believe the use of the OCS combined with the NOP has the potential to significantly increase the number of organ transplants and improve post-transplant outcomes.

Last close 70.74 2026-10-23
Market cap $2.45B 2026-06-30 share count
52-week range 60.10 - 156.00

Valuation FY2025 figures against the last close

P/S4.1x
P/E14.5x
P/FCF18.4x
EV/EBITDA14.5x
Dividend yield—
Diluted EPS4.87

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $605.5M$441.5M$241.6M$93.5M$30.3M$25.6M$25.8M$14.7M—
Cost of revenue $242.7M$179.5M$87.5M$28.2M$9.1M$9.0M$9.7M$7.3M—
Gross profit $362.8M$262.1M$154.1M$65.3M$21.2M$16.6M$13.9M$5.7M—
R&D $69.1M$56.0M$36.1M$26.8M$22.3M$18.8M$19.9M$13.7M—
SG&A $185.2M$168.6M$119.6M$69.9M$38.3M$24.2M$23.6M$12.3M—
Total operating expenses $254.2M$224.6M$182.8M$96.7M$60.6M$43.0M$43.5M$26.0M—
Operating income $108.6M$37.5M-$28.7M-$31.4M-$39.4M-$26.4M-$29.6M-$20.2M—
Interest expense $13.8M$14.4M$10.8M$3.7M$3.9M$4.0M$4.4M$2.7M—
Pre-tax income $107.5M$35.8M-$26.7M-$36.2M-$44.2M-$28.7M-$33.5M-$23.7M—
Income tax $82.8M$316.0K$1.6M$66.0K—$0$0$0$0
Net income $190.3M$35.5M-$25.0M-$36.2M-$44.2M-$28.7M-$33.5M-$23.8M—
EPS, basic 5.601.07-0.77-1.23-1.60-1.16———
EPS, diluted 4.871.01-0.77-1.23-1.60-1.16-2.36-17.48—
Shares, diluted (wtd. avg.) 40.5M35.2M32.5M29.6M27.6M24.7M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $488.9M$337.1M$395.3M$201.7M$26.1M$25.1M$20.6M$20.7M$12.4M
Short-term investments ————$66.9M$101.1M$60.6M——
Receivables $84.3M$97.7M$63.6M$27.6M$5.9M$6.9M$6.6M$3.4M—
Inventory $48.9M$46.6M$44.2M$20.6M$14.9M$11.9M$11.2M$9.3M—
Total current assets $637.8M$497.2M$510.7M$252.3M$118.7M$146.8M$100.0M$34.8M—
Property, plant and equipment $327.7M$286.0M$173.9M$19.2M$9.8M$4.8M$4.8M$3.5M—
Goodwill $11.5M$11.5M$12.0M——————
Other intangibles $1.9M$2.2M$2.4M——————
Total assets $1.07B$804.1M$706.0M$277.1M$134.9M$152.0M$105.3M$42.2M—
Accounts payable $10.3M$10.3M$12.7M$3.3M$6.7M$1.2M$7.2M$4.7M—
Short-term debt $10.0M————————
Total current liabilities $89.3M$59.9M$54.9M$23.7M$23.2M$11.9M$16.1M$12.6M—
Long-term debt ———$58.7M$35.2M$34.7M$34.1M$33.7M—
Total liabilities $595.3M$575.5M$568.8M$89.8M$67.0M$48.1M$50.6M$47.9M—
Retained earnings -$277.9M-$468.2M-$503.7M-$478.7M-$442.4M-$398.2M-$369.5M-$335.9M—
Total equity $473.1M$228.6M$137.2M$187.4M$67.9M$103.9M$54.6M-$192.2M-$168.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $192.8M$48.8M-$13.0M-$45.8M-$28.9M-$30.3M-$32.3M-$26.0M—
Depreciation and amortisation $27.2M$19.8M$8.2M$3.5M$1.8M$1.6M$1.2M$769.0K—
Stock-based compensation $36.9M$33.2M$19.8M$10.3M$6.9M$2.4M$854.0K$144.0K—
Capital expenditure $59.3M$129.7M$151.8M$11.9M$3.5M$455.0K$165.0K$418.0K—
Investing cash flow -$59.3M-$129.3M-$194.0M$54.5M$29.3M-$41.6M-$60.5M$12.3M—
Financing cash flow $16.9M$22.9M$400.4M$167.9M$1.4M$75.5M$92.7M$22.1M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-150357.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M 800M Revenue, FY2018: 14.7M Gross profit, FY2018: 5.7M Net income, FY2018: -23.8M Revenue, FY2019: 25.8M Gross profit, FY2019: 13.9M Net income, FY2019: -33.5M Revenue, FY2020: 25.6M Gross profit, FY2020: 16.6M Net income, FY2020: -28.7M Revenue, FY2021: 30.3M Gross profit, FY2021: 21.2M Net income, FY2021: -44.2M Revenue, FY2022: 93.5M Gross profit, FY2022: 65.3M Net income, FY2022: -36.2M Revenue, FY2023: 241.6M Gross profit, FY2023: 154.1M Net income, FY2023: -25M Revenue, FY2024: 441.5M Gross profit, FY2024: 262.1M Net income, FY2024: 35.5M Revenue, FY2025: 605.5M Gross profit, FY2025: 362.8M Net income, FY2025: 190.3M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $14.7M $25.8M $25.6M $30.3M $93.5M $241.6M $441.5M $605.5M
Gross profit — $5.7M $13.9M $16.6M $21.2M $65.3M $154.1M $262.1M $362.8M
Net income — -$23.8M -$33.5M -$28.7M -$44.2M -$36.2M -$25.0M $35.5M $190.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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