TransMedics Q1 Revenue Climbs 21% to $173.9M, Unveils CHOPS, European Push
TransMedics posted first-quarter revenue of $173.9 million, up 21% year-over-year, with net income of $7.3 million ($0.20 per share) and adjusted net income of $10.9 million ($0.30 per share). The company unveiled its Controlled Hypothermic Organ Preservation System and invested in PAD Aviation to build a European transplant network.
1. First-Quarter Financial Performance
In the quarter ended March 31, TransMedics reported revenue of $173.9 million, a 21% increase year-over-year driven by heightened Organ Care System utilization and logistics services. Net income was $7.3 million ($0.20 per diluted share) and adjusted net income reached $10.9 million ($0.30 per share), with cash of $461.7 million at quarter end.
2. Technological Innovation and Clinical Programs
TransMedics unveiled its Controlled Hypothermic Organ Preservation System (CHOPS) to facilitate enrollment in control arms of the OCS ENHANCE Heart Part B and OCS DENOVO Lung clinical trials. The company also continues advancement of its OCS Kidney program to expand organ transplant access and outcomes.
3. European Expansion Strategy
The company entered into a definitive agreement to invest in PAD Aviation, aiming to establish the first dedicated European transplant logistics network. This move supports deployment of the National OCS Program model across key European markets to accelerate organ preservation and transport capabilities.
4. Full-Year Guidance Reiterated
Management reiterated full-year 2026 revenue guidance of $727 million to $757 million, reflecting projected growth of 20% to 25% driven by expanded OCS utilization, logistics service revenues, and ongoing clinical program milestones.