TMDX · Transmedics Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $173.93M | - | $143.82M | $157.37M | $143.54M | - | $108.76M | $114.31M | $96.85M | - |
| Cost of Revenue | $72.77M | - | $59.25M | $60.78M | $55.31M | - | $47.92M | $45.04M | $36.89M | - |
| Gross Profit | $101.16M | - | $84.58M | $96.59M | $88.23M | - | $60.84M | $69.26M | $59.96M | - |
| R&D | $24.88M | - | $15.26M | $15.93M | $17.16M | - | $14.27M | $13.86M | $11.38M | - |
| SG&A | $62.98M | - | $46.02M | $44.09M | $43.63M | - | $42.66M | $42.90M | $36.16M | - |
| Total Operating Expenses | $87.86M | - | $61.27M | $60.02M | $60.78M | - | $56.92M | $56.75M | $47.54M | - |
| D&A | $11.86M | - | - | - | $6.14M | - | - | - | $4.30M | - |
| Operating Income | $13.30M | - | $23.30M | $36.57M | $27.44M | - | $3.92M | $12.51M | $12.42M | - |
| Interest Expense | $7.17M | - | $3.49M | $3.48M | $3.60M | - | $3.59M | $3.62M | $3.60M | - |
| Income Tax | $1.17M | - | ($1.29M) | ($41.0K) | $196.0K | - | - | - | - | - |
| Net Income | $7.32M | - | $24.32M | $34.91M | $25.68M | - | $4.22M | $12.19M | $12.20M | - |
| EPS - Basic | $0.21 | - | $0.71 | $1.03 | $0.76 | - | $0.13 | $0.37 | $0.37 | - |
| EPS - Diluted | $0.20 | - | $0.66 | $0.92 | $0.70 | - | $0.12 | $0.35 | $0.35 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $480.18M | $488.87M | $466.67M | $401.07M | $310.64M | $337.15M | $330.09M | $362.75M | $350.22M | $394.81M |
| Accounts Receivable | $90.73M | $84.28M | $80.70M | $104.85M | $142.03M | $97.72M | $90.13M | $81.16M | $81.94M | $63.58M |
| Inventory | $49.89M | $48.88M | $44.51M | $38.87M | $43.38M | $46.55M | $52.15M | $48.67M | $48.54M | $44.23M |
| Accounts Payable | $11.15M | $10.35M | $12.16M | $9.54M | $10.60M | $10.29M | $13.13M | $13.03M | $9.22M | $12.72M |
| Current Assets | $619.28M | $637.78M | $613.00M | $558.13M | $505.92M | $497.22M | $492.48M | $509.26M | $488.31M | $510.65M |
| Total Assets | $1.43B | $1.07B | $946.03M | $890.52M | $837.53M | $804.08M | $785.57M | $758.58M | $723.83M | $706.05M |
| Current Liabilities | $91.92M | $89.31M | $79.72M | $56.62M | $55.60M | $59.91M | $60.05M | $54.33M | $50.22M | $54.93M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $940.81M | $595.27M | $590.83M | $572.42M | $571.22M | $575.47M | $575.65M | $568.68M | $564.36M | $568.85M |
| Stockholders' Equity | $494.01M | $473.10M | $355.20M | $318.10M | $266.31M | $228.60M | $209.92M | $189.89M | $159.47M | $137.20M |
| Retained Earnings | ($270.63M) | ($277.95M) | ($383.33M) | ($407.65M) | ($442.56M) | ($468.24M) | ($475.10M) | ($479.31M) | ($491.51M) | ($503.70M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $24.53M | - | - | - | ($2.85M) | - | - | - | ($3.44M) | - |
| Investing Cash Flow | ($36.66M) | - | - | - | ($27.04M) | - | - | - | ($44.17M) | - |
| Financing Cash Flow | $3.76M | - | - | - | $3.03M | - | - | - | $3.19M | - |
| CapEx | $36.66M | - | - | - | $27.04M | - | - | - | $44.17M | - |
| Free Cash Flow | ($12.12M) | - | - | - | ($29.89M) | - | - | - | ($47.61M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 58.2% | - | 58.8% | 61.4% | 61.5% | - | 55.9% | 60.6% | 61.9% | - |
| Operating margin | 7.6% | - | 16.2% | 23.2% | 19.1% | - | 3.6% | 10.9% | 12.8% | - |
| EBITDA margin | 14.5% | - | - | - | 23.4% | - | - | - | 17.3% | - |
| Net margin | 4.2% | - | 16.9% | 22.2% | 17.9% | - | 3.9% | 10.7% | 12.6% | - |
| Free cash flow margin | -7.0% | - | - | - | -20.8% | - | - | - | -49.2% | - |
| FCF / Net income | -1.66 | - | - | - | -1.16 | - | - | - | -3.90 | - |
| R&D / Revenue | 14.3% | - | 10.6% | 10.1% | 12.0% | - | 13.1% | 12.1% | 11.8% | - |
| SG&A / Revenue | 36.2% | - | 32.0% | 28.0% | 30.4% | - | 39.2% | 37.5% | 37.3% | - |
| Effective tax rate | 13.8% | - | -5.6% | -0.1% | 0.8% | - | - | - | - | - |
| Return on assets | 0.5% | - | 2.6% | 3.9% | 3.1% | - | 0.5% | 1.6% | 1.7% | - |
| Return on equity | 1.5% | - | 6.8% | 11.0% | 9.6% | - | 2.0% | 6.4% | 7.6% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 6.74 | 7.14 | 7.69 | 9.86 | 9.10 | 8.30 | 8.20 | 9.37 | 9.72 | 9.30 |
| Quick ratio | 6.19 | 6.59 | 7.13 | 9.17 | 8.32 | 7.52 | 7.33 | 8.48 | 8.76 | 8.49 |
| Cash ratio | 5.22 | 5.47 | 5.85 | 7.08 | 5.59 | 5.63 | 5.50 | 6.68 | 6.97 | 7.19 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 1.9x | - | 6.7x | 10.5x | 7.6x | - | 1.1x | 3.5x | 3.5x | - |
| Equity multiplier | 2.90 | 2.26 | 2.66 | 2.80 | 3.14 | 3.52 | 3.74 | 3.99 | 4.54 | 5.15 |
| Liabilities / Assets | 0.66 | 0.56 | 0.62 | 0.64 | 0.68 | 0.72 | 0.73 | 0.75 | 0.78 | 0.81 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | - | 0.15 | 0.18 | 0.17 | - | 0.14 | 0.15 | 0.13 | - |
| Inventory turnover | 1.46 | - | 1.33 | 1.56 | 1.27 | - | 0.92 | 0.93 | 0.76 | - |
| Days sales outstanding | 190d | - | 205d | 243d | 361d | - | 302d | 259d | 309d | - |
| Days inventory outstanding | 250d | - | 274d | 233d | 286d | - | 397d | 394d | 480d | - |
| Days payable outstanding | 56d | - | 75d | 57d | 70d | - | 100d | 106d | 91d | - |
| Cash conversion cycle | 385d | - | 404d | 419d | 578d | - | 600d | 548d | 698d | - |
| Valuation | ||||||||||
| P / E | 497.1x | - | 170.0x | 145.7x | 96.1x | - | 1308.3x | 430.3x | 211.3x | - |
| P / B | 7.3x | - | 12.9x | 17.1x | 10.1x | - | 26.7x | 28.0x | 16.1x | - |
| P / S | 20.7x | - | 31.8x | 34.5x | 18.7x | - | 51.5x | 46.5x | 26.5x | - |
| EV / EBITDA | 123.9x | - | - | - | 70.7x | - | - | - | 132.4x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 21.2% | - | 32.2% | 37.7% | 48.2% | - | 63.7% | 117.9% | 133.1% | - |
| Revenue CAGR (3y) | 61.2% | - | 77.6% | 97.2% | 108.3% | - | 171.9% | 136.3% | 133.2% | - |
| Revenue CAGR (5y) | 86.8% | - | 78.3% | 109.2% | 77.1% | - | 69.1% | 79.0% | 103.8% | - |
| Gross profit growth (YoY) | 14.7% | - | 39.0% | 39.5% | 47.1% | - | 49.6% | 88.5% | 108.4% | - |
| Operating income growth (YoY) | -51.5% | - | 493.9% | 192.3% | 120.9% | - | - | - | - | - |
| Net income growth (YoY) | -71.5% | - | 476.8% | 186.3% | 110.6% | - | - | - | - | - |
| EPS growth (YoY) | -71.4% | - | 450.0% | 162.9% | 100.0% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 59.4% | - | - | - | 37.2% | - | - | - | -396.5% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 85.5% | 107.0% | 69.2% | 67.5% | 67.0% | 66.6% | 66.0% | 30.8% | -17.2% | -26.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$601.40M totalOcs Transplant Revenue$601.40M · 100.0%
Product / service
$1.19B totalLiver Product$459.42M · 38.5%
Product$372.40M · 31.2%
Service$233.09M · 19.5%
Heart Product$111.84M · 9.4%
Lung Product$13.44M · 1.1%
Service Unrelated To OCSTransplant$4.10M · 0.3%
Geographic
$601.40M totalUS$584.70M · 97.2%
Other Countries$16.70M · 2.8%
Peer comparison
Same SIC group: Electromedical & Electrotherapeutic Apparatus
Comparing TransMedics Group against the 5 most active filers in the same SIC group.