TransMedics Group Q3 revenue jumps 41% on higher organ volumes, logistics growth
TMDX•TransMedics Group's third-quarter revenue rose 41% year over year to $203 million, beating the $177.58 million analyst consensus, while adjusted EPS of $0.51 topped the $0.29 estimate. The company raised its 2026 revenue guidance to $764 million-$774 million, including PAD Aviation.
1. Quarterly results
TransMedics Group reported third-quarter revenue of $203 million, up 41% year over year and above the $177.58 million analyst consensus. Adjusted EPS was $0.51, versus the $0.29 consensus; EPS was $0.46, net income was $17.10 million and gross margin was 58.5%.
2. Revenue and outlook
The company said higher liver and heart volumes through its National OCS Program and added logistics revenue, including PAD Aviation, drove growth. It raised its 2026 revenue guidance to $764 million-$774 million, including PAD Aviation, and plans European expansion. It expects OCS Kidney clinical experience in the second half of 2027.
3. Costs and investment
A higher service revenue mix weighed on gross margin, partly offset by logistics efficiencies and lower costs. Operating expenses rose as the company invested in new clinical programs, increased headcount and expanded infrastructure.
