TransMedics Group, Inc. (TMDX)
TransMedics Group, Inc. operates as a commercial-stage medical technology enterprise, committed to transforming the landscape of organ transplant therapy for patients worldwide grappling with end-stage organ failure. At the core of their offerings is the Organ Care System (OCS), an innovative, portable solution engineered to perfuse, optimize, and continuously monitor donor organs. This system leverages exclusive, tailored technology to meticulously recreate near-physiological conditions for these vital organs while they remain outside the human body. The OCS suite encompasses specialized modules: OCS LUNG, which facilitates the preservation of standard criteria donor lungs for double-lung transplants; OCS Heart, designed for the extracorporeal perfusion and maintenance of donor hearts; and OCS Liver, dedicated to the preservation of donor livers. Founded in 1998, TransMedics is headquartered in Andover, Massachusetts.
Sector: Electromedical & Electrotherapeutic Apparatus
Industry: Medical - Devices
TransMedics Group, Inc.
NASDAQ:TMDXHealthcare · Medical - Devices
-1.68%$65.99
AH$65.85-0.21%vs close
Mkt Cap$2.29B
Float32.16M
O/S34.68M
Vol
$ Vol
RVOL
Inst Own100.9%
SI27.3%
Earnings
Dilution
Financials Summary
Revenue$605.49M
Net Income$190.29M
Total Assets$1.07B
Free Cash Flow$133.59M
Debt & Equity
Debt 50%
Equity 50%
Total Debt$469.69M
Total Equity$473.1M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TMDX's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.07B
Liabilities$595.27M
Accounts Receivable$84.28M
Accounts Payable$10.35M
Inventory$48.88M
PP&E (Net)$332.81M
Goodwill$11.55M
Intangible Assets$1.95M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Revenue | $605.49M | $441.54M | $241.62M | $93.46M | $30.26M | $25.64M | $23.6M | $13.02M | $7.68M | $6.21M |
| YoY Growth | 37.1% | 82.7% | 158.5% | 208.8% | 18.0% | 8.6% | 81.3% | 69.4% | 23.8% | - |
| Cost of Revenue | $242.69M | $179.46M | $87.53M | $28.19M | $9.1M | $9M | $9.74M | $7.28M | $5.55M | $5.44M |
| Gross Profit | $362.81M | $262.08M | $154.09M | $65.27M | $21.16M | $16.64M | $13.86M | $5.73M | $2.14M | $766K |
| Gross Margin | 59.9% | 59.4% | 63.8% | 69.8% | 69.9% | 64.9% | 58.7% | 44.1% | 27.8% | 12.3% |
| Research and Development | $69.06M | $55.97M | $63.27M | $26.81M | $22.3M | $18.83M | $19.87M | $13.66M | $14.96M | $15.64M |
| Selling, General, and Administrative | $185.17M | $168.62M | $119.55M | $69.9M | $38.28M | $24.19M | $23.6M | $12.31M | $7.61M | $8.12M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$213K | $0 | $5K |
| Total Operating Expenses | $254.22M | $224.59M | $182.82M | $96.71M | $60.59M | $43.02M | $43.47M | $25.97M | $22.56M | $23.75M |
| Operating Income (EBIT) | $108.58M | $37.5M | -$28.73M | -$31.44M | -$39.43M | -$26.38M | -$29.6M | -$20.24M | -$20.43M | -$22.99M |
| Operating Margin | 17.9% | 8.5% | -11.9% | -33.6% | -130.3% | -102.9% | -125.4% | -155.5% | -265.8% | -370.2% |
| Interest Expense | $13.78M | $14.41M | $10.79M | $3.73M | $3.87M | $3.98M | $4.35M | $2.42M | $1.07M | $979K |
| Interest Income | $0 | $0 | $12.5M | $900K | $0 | $1.65M | $790K | $0 | $548K | $5K |
| Other Income (Expense) | -$1.06M | -$1.72M | $2.06M | -$4.73M | -$4.75M | -$2.33M | -$3.9M | -$3.48M | -$365K | -$1.08M |
| Income Before Tax (EBT) | $107.52M | $35.78M | -$26.67M | -$36.16M | -$44.18M | -$28.72M | -$33.51M | -$23.71M | -$20.79M | -$24.07M |
| Income Tax Expense | -$82.77M | $316K | -$1.64M | $66K | $36K | $32K | $40K | $41K | $32K | $0 |
| Net Income | $190.29M | $35.46M | -$25.03M | -$36.23M | -$44.22M | -$28.75M | -$33.55M | -$23.76M | -$20.82M | -$24.07M |
| Net Income Margin | 31.4% | 8.0% | -10.4% | -38.8% | -146.1% | -112.1% | -142.1% | -182.5% | -271.0% | -387.6% |
| Supplementary Data | ||||||||||
| EPS | 5.60 | 1.07 | -0.77 | -1.23 | -1.60 | -1.16 | -2.36 | -1.23 | -1.44 | -1.66 |
| Diluted EPS | 4.87 | 1.01 | -0.77 | -1.23 | -1.60 | -1.16 | -2.36 | -1.23 | -1.44 | -1.66 |
| Weighted Average OS | 33.99M | 33.23M | 32.52M | 29.56M | 27.62M | 24.70M | 14.20M | 19.25M | 14.48M | 14.48M |
| EBITDA | $148.49M | $69.95M | -$7.7M | -$28.96M | -$38.49M | -$23.15M | -$27.93M | -$20.23M | -$19.09M | -$22.66M |
| EBITDA Margin | 24.5% | 15.8% | -3.2% | -31.0% | -127.2% | -90.3% | -118.3% | -155.4% | -248.4% | -365.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $488.37M | $336.65M | $394.81M | $201.18M | $25.58M | $24.58M | $20.09M | $20.24M | $11.94M | $9.84M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $66.87M | $101.06M | $60.6M | $0 | $12.73M | $38M |
| Cash and Short-Term Investments | $488.37M | $336.65M | $394.81M | $201.18M | $92.45M | $125.64M | $80.69M | $20.24M | $24.66M | $47.84M |
| Accounts Receivable | $84.28M | $97.72M | $63.58M | $27.61M | $5.93M | $6.86M | $6.56M | $3.44M | $925K | $1.38M |
| Inventory | $48.88M | $46.55M | $44.23M | $20.61M | $14.86M | $11.93M | $11.22M | $9.28M | $7.97M | $6.33M |
| Other Current Assets | $16.25M | $16.29M | $8.03M | $2.9M | $5.46M | $2.33M | $1.54M | $0 | $0 | $0 |
| Total Current Assets | $637.78M | $497.22M | $510.65M | $252.29M | $118.7M | $146.77M | $100M | $34.79M | $34.04M | $55.86M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $332.81M | $292.45M | $180.49M | $24.35M | $15.69M | $4.75M | $4.79M | $3.47M | $2.46M | $1.72M |
| Goodwill | $11.55M | $11.55M | $11.99M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $1.95M | $2.15M | $2.35M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $500K | $500K | $0 | $500K | $500K | $500K | $0 |
| Deferred Tax Assets | $83.54M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $739K | $708K | $562K | $0 | $0 | $506K | $6K | $3.39M | $6K | $518K |
| Total Long-Term Assets | $430.59M | $306.86M | $195.39M | $24.85M | $16.19M | $5.26M | $5.3M | $7.36M | $2.96M | $2.24M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.07B | $804.08M | $706.05M | $277.15M | $134.89M | $152.03M | $105.3M | $42.16M | $37M | $58.1M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $10.35M | $10.29M | $12.72M | $3.34M | $6.65M | $1.21M | $7.25M | $4.72M | $3.52M | $4.25M |
| Short-Term Debt | $13.31M | $2.73M | $0 | $0 | $0 | $0 | $0 | $0 | $1.8M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $2.9M | $1.74M | $1.96M | $241K | $250K | $263K | $166K | $306K | $239K | $0 |
| Other Current Liabilities | $62.74M | $45.15M | $17.92M | $8.82M | $11.16M | $6.38M | $370K | $655K | $569K | $488K |
| Total Current Liabilities | $89.31M | $59.91M | $54.93M | $23.66M | $23.24M | $11.88M | $16.11M | $12.55M | $10.9M | $9.47M |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $456.38M | $509.31M | $506.2M | $58.7M | $35.2M | $34.66M | $34.15M | $33.67M | $6.85M | $8.41M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $759K | $1.11M | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$759K | -$1.11M | $0 |
| Other Long-Term Liabilities | $49.59M | $0 | $0 | $0 | $0 | $1.6M | $389K | $759K | $187.98M | $1.44M |
| Total Long-Term Liabilities | $505.97M | $515.56M | $513.91M | $66.11M | $43.8M | $36.26M | $34.53M | $34.43M | $194.83M | $9.84M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $595.27M | $575.47M | $568.85M | $89.77M | $67.04M | $48.13M | $50.65M | $46.98M | $205.72M | $19.32M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $186.52M | $186.52M | $187.03M |
| Common Stock | $750.93M | $697.21M | $641.11M | $666.28M | $510.49M | $502.22M | $424.13M | $331.21M | $1K | $1K |
| Retained Earnings | -$277.95M | -$468.24M | -$503.7M | -$478.68M | -$442.45M | -$398.23M | -$369.48M | -$335.94M | -$312.18M | -$291.36M |
| Comprehensive Income & Other | $124K | -$364K | -$199K | -$225K | -$188K | -$95K | -$2K | -$101K | -$149K | -$417K |
| Other Stockholders' Equity | $124K | -$364K | -$199K | -$225K | -$188K | -$95K | -$2K | -$101K | $143.46M | $330.14M |
| Total Equity | $473.1M | $228.6M | $137.2M | $187.38M | $67.85M | $103.89M | $54.65M | -$4.83M | -$168.72M | $38.79M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $1.07B | $804.08M | $706.05M | $277.15M | $134.89M | $152.03M | $105.3M | $42.16M | $37M | $58.1M |
| Supplementary Data | ||||||||||
| Total Debt | $469.69M | $518.29M | $515.95M | $67.56M | $43.8M | $34.66M | $34.15M | $33.67M | $8.65M | $8.41M |
| Net Debt | -$18.68M | $181.64M | $121.13M | -$133.63M | $18.22M | $10.08M | $14.05M | $13.43M | -$3.28M | -$1.43M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | $190.29M | $35.46M | -$25.03M | -$36.23M | -$44.22M | -$28.75M | -$33.55M | -$23.76M | -$20.82M | -$24.07M |
| Depreciation & Amortization | $27.18M | $19.76M | $8.18M | $3.48M | $1.82M | $1.58M | $1.22M | $769K | $630K | $426K |
| Deferred Income Tax | -$83.54M | $0 | -$1.66M | $0 | $0 | -$431K | $336K | $1.01M | -$316K | $292K |
| Stock-Based Compensation | $36.86M | $33.22M | $19.79M | $10.32M | $6.88M | $2.41M | $854K | $144K | $70K | $45K |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | $13.95M | -$34.31M | -$33.82M | -$21.68M | $840K | -$218K | -$3.17M | -$2.51M | $454K | -$758K |
| Inventory | -$7.72M | -$8.35M | -$28.09M | -$8.02M | -$4.89M | -$1.74M | -$4.12M | -$2.7M | -$2.5M | -$1.59M |
| Accounts Payable | -$19K | -$1.4M | $6.96M | -$3.27M | $5.09M | -$5.8M | $3.44M | $164K | -$735K | $1.06M |
| Other Working Capital | $11.02M | -$941K | $10.6M | $6.21M | $1.97M | $2.17M | $2.22M | $721K | $26K | $411K |
| Total Working Capital Change | $17.25M | -$45M | -$44.35M | -$26.76M | $3M | -$5.59M | -$1.63M | -$4.33M | -$2.75M | -$872K |
| Other Non-Cash Items | $4.79M | $5.36M | $30.04M | $3.37M | $3.65M | $511K | $475K | $177K | $93K | $65K |
| Net Cash from Operating | $192.84M | $48.8M | -$13.03M | -$45.82M | -$28.86M | -$30.27M | -$32.29M | -$25.98M | -$23.1M | -$24.11M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$59.25M | $0 | -$151.85M | -$11.91M | -$3.52M | -$455K | -$165K | -$418K | -$263K | -$1.48M |
| Acquisitions | $0 | $441K | -$14.89M | $107K | $0 | $41.14M | $60.34M | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | -$10.5M | -$72.02M | -$121.79M | -$82.37M | $0 | -$19.19M | -$46.53M |
| Sales of Investments | $0 | $0 | $0 | $76.92M | $104.81M | $80.65M | $22.04M | $12.72M | $44.31M | $8.34M |
| Other Investing Activities | $0 | -$129.74M | -$27.21M | -$107K | $0 | -$41.14M | -$60.34M | $12.72M | $25.12M | -$38.19M |
| Net Cash from Investing | -$59.25M | -$129.3M | -$193.95M | $54.51M | $29.27M | -$41.6M | -$60.5M | $12.31M | $24.86M | -$39.67M |
| Financing Activities | ||||||||||
| Debt Repaid | - | - | -$445.38M | -$22.46M | - | - | - | -$24.36M | - | - |
| Common Stock Issuance | $0 | $22.87M | $7.11M | $139.85M | $1.39M | $74.97M | $97.37M | $46K | $3K | $63.63M |
| Common Stock Repurchases | -$138K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $17M | $0 | -$52.07M | $5.61M | $0 | $584K | -$4.64M | -$2.3M | $3K | -$64K |
| Net Cash from Financing | $16.86M | $22.87M | $400.42M | $167.93M | $1.39M | $75.55M | $92.72M | $22.06M | $3K | $63.54M |
| Forex Effect | $1.27M | -$536K | $193K | -$1.02M | -$797K | $803K | -$85K | -$82K | $335K | -$6K |
| Net Change in Cash | $151.72M | -$58.16M | $193.63M | $175.6M | $999K | $4.49M | -$149K | $8.3M | $2.1M | -$243K |
| Supplementary Data | ||||||||||
| Operating Cash Flow | $192.84M | $48.8M | -$13.03M | -$45.82M | -$28.86M | -$30.27M | -$32.29M | -$25.98M | -$23.1M | -$24.11M |
| Capital Expenditure | -$59.25M | -$129.74M | -$179.06M | -$11.91M | -$3.52M | -$455K | -$165K | -$418K | -$263K | -$1.48M |
| Free Cash Flow | $133.59M | -$80.94M | -$192.09M | -$57.72M | -$32.38M | -$30.72M | -$32.45M | -$26.4M | -$23.36M | -$25.59M |
| Cash at Beginning | $337.15M | $395.31M | $201.68M | $26.08M | $25.08M | $20.59M | $20.74M | $12.44M | $10.34M | $10.58M |
| Cash at End | $488.87M | $337.15M | $395.31M | $201.68M | $26.08M | $25.08M | $20.59M | $20.74M | $12.44M | $10.34M |