Key Points
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Record Q3 results prompted higher guidance: Revenue rose 41% year over year to $203 million, and TransMedics raised its 2026 revenue outlook to $764 million–$774 million, implying 26%–28% growth over 2025.
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Growth was led by services and core transplant markets: Service revenue increased 60% and product revenue rose 29%; liver and heart gains helped offset a 6% decline in U.S. deceased donor volume. Adjusted net income was $18.9 million.
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New programs are longer-term growth catalysts: Management expects the ENHANCE Heart Part B and DENOVO Lung programs to contribute meaningfully starting in 2027, with European launches and a first-in-human kidney experience also planned for that year.
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TransMedics Group (NASDAQ:TMDX) raised its full-year revenue outlook after reporting record third-quarter revenue and transplant case volume, as gains in its liver and heart businesses helped offset a decline in U.S. deceased donor volume.
The organ transplant technology and services company reported third-quarter revenue of $203 million, up 41% f...