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.

Price · TMDX

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$605.49M	$441.54M	$241.62M	$93.46M	$31.39M	$28.36M
Cost of Revenue	$242.69M	$179.46M	$87.53M	$28.19M	$9.00M	$9.00M
Gross Profit	$362.81M	$262.08M	$154.09M	$65.27M	$16.64M	$16.64M
R&D	$69.06M	$55.97M	$36.05M	$26.81M	$18.83M	$18.83M
SG&A	$185.17M	$168.62M	$119.55M	$69.90M	$24.19M	$24.19M
Total Operating Expenses	$254.22M	$224.59M	$182.82M	$96.71M	$43.02M	$43.02M
D&A	$27.18M	$19.76M	$8.18M	$3.48M	$1.82M	$1.58M
Operating Income	$108.58M	$37.50M	($28.73M)	($31.44M)	($26.38M)	($26.38M)
Interest Expense	$13.78M	$14.41M	$10.79M	$3.73M	$3.98M	$3.98M
Income Tax	($82.77M)	$316.0K	($1.70M)	$66.0K◇	-	$0
Net Income	$190.29M	$35.46M	($25.03M)	($36.23M)	($44.22M)	($28.75M)
EPS - Basic	$5.60	$1.07	($0.77)	($1.23)	($1.16)	-
EPS - Diluted	$4.87	$1.01	($0.77)	($1.23)	($1.16)	-

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$488.87M	$337.15M	$394.81M	$201.18M	$25.58M	$24.58M
Accounts Receivable	$84.28M	$97.72M	$63.58M	$27.61M	$5.93M	$6.86M
Inventory	$48.88M	$46.55M	$44.23M	$20.61M	$14.86M	$11.93M
Accounts Payable	$10.35M	$10.29M	$12.72M	$3.34M	$6.65M	$1.21M
Current Assets	$637.78M	$497.22M	$510.65M	$252.29M	$118.70M	$146.77M
Total Assets	$1.07B	$804.08M	$706.05M	$277.15M	$134.89M	$152.03M
Current Liabilities	$89.31M	$59.91M	$54.93M	$23.66M	$23.24M	$11.88M
Long-term Debt	-	-	-	$58.70M	$35.20M	$34.66M
Total Liabilities	$595.27M	$575.47M	$568.85M	$89.77M	$67.04M	$48.13M
Stockholders' Equity	$473.10M	$228.60M	$137.20M	$187.38M	$67.85M	$103.89M
Retained Earnings	($277.95M)	($468.24M)	($503.70M)	($478.68M)	($442.45M)	($398.23M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$192.84M	$48.80M	($13.03M)	($45.82M)	($28.86M)	($30.27M)
Investing Cash Flow	($59.25M)	($129.30M)	($193.95M)	$54.51M	$29.27M	($41.60M)
Financing Cash Flow	$16.86M	$22.87M	$400.42M	$167.93M	$1.39M	$75.55M
CapEx	$59.25M	$129.74M	$151.85M	$11.91M	$3.52M	$455.0K
Free Cash Flow	$133.59M	($80.94M)	($164.88M)	($57.72M)	($32.38M)	($30.72M)

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	59.9%	59.4%	63.8%	69.8%	53.0%	58.7%
Operating margin	17.9%	8.5%	-11.9%	-33.6%	-84.1%	-93.0%
EBITDA margin	22.4%	13.0%	-8.5%	-29.9%	-78.3%	-87.5%
Net margin	31.4%	8.0%	-10.4%	-38.8%	-140.9%	-101.4%
Free cash flow margin	22.1%	-18.3%	-68.2%	-61.8%	-103.2%	-108.3%
FCF / Net income	0.70	-2.28	6.59	1.59	0.73	1.07
R&D / Revenue	11.4%	12.7%	14.9%	28.7%	60.0%	66.4%
SG&A / Revenue	30.6%	38.2%	49.5%	74.8%	77.1%	85.3%
Effective tax rate	-77.0%	0.9%	-	-	-	-
Return on assets	17.8%	4.4%	-3.5%	-13.1%	-32.8%	-18.9%
Return on equity	40.2%	15.5%	-18.2%	-19.3%	-65.2%	-27.7%
Return on invested capital	-	-	-	-10.1%	-	-15.0%
Liquidity
Current ratio	7.14	8.30	9.30	10.66	5.11	12.36
Quick ratio	6.59	7.52	8.49	9.79	4.47	11.35
Cash ratio	5.47	5.63	7.19	8.50	1.10	2.07
Leverage
Debt / Equity	-	-	-	0.31	0.52	0.33
Debt / Assets	-	-	-	0.21	0.26	0.23
Debt / EBITDA	-	-	-	-	-	-
Interest coverage	7.9x	2.6x	-2.7x	-8.4x	-6.6x	-6.6x
Equity multiplier	2.26	3.52	5.15	1.48	1.99	1.46
Liabilities / Assets	0.56	0.72	0.81	0.32	0.50	0.32
Efficiency
Asset turnover	0.57	0.55	0.34	0.34	0.23	0.19
Inventory turnover	4.96	3.85	1.98	1.37	0.61	0.75
Days sales outstanding	51d	81d	96d	108d	69d	88d
Days inventory outstanding	74d	95d	184d	267d	602d	484d
Days payable outstanding	16d	21d	53d	43d	270d	49d
Cash conversion cycle	109d	155d	227d	331d	402d	523d
Valuation
P / E	25.0x	61.7x	-	-	-	-
P / B	10.4x	9.6x	18.7x	9.7x	7.0x	-
P / S	8.1x	5.0x	10.6x	19.5x	15.1x	-
EV / EBITDA	32.7x	32.5x	-	-	-	-
Growth
Revenue growth (YoY)	37.1%	82.7%	158.5%	197.8%	10.7%	9.7%
Revenue CAGR (3y)	86.4%	141.4%	104.3%	53.5%	-	-
Revenue CAGR (5y)	84.5%	76.4%	-	-	-	-
Gross profit growth (YoY)	38.4%	70.1%	136.1%	292.4%	0.0%	190.1%
Operating income growth (YoY)	189.6%	-	8.6%	-19.2%	0.0%	-30.4%
Net income growth (YoY)	436.6%	-	30.9%	18.1%	-53.8%	14.3%
EPS growth (YoY)	382.2%	-	37.4%	-6.0%	-	-
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-	50.9%	-185.6%	-78.3%	-5.4%	5.3%
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	107.0%	66.6%	-26.8%	176.1%	-34.7%	90.1%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$601.40M total

Ocs Transplant Revenue$601.40M · 100.0%

Product / service

$1.19B total

Liver 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 total

US$584.70M · 97.2%

Other Countries$16.70M · 2.8%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

1.36

Grey zone

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

6/9

Neutral

✓Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✗Current ratio improved
✗No share dilution
✓Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Electromedical & Electrotherapeutic Apparatus

Company	Revenue (last FY)	Net margin	ROE
BLFS	-	-	-1.2%
OM	$119.48M	-68.3%	-64.3%
ITGR	$1.85B	5.5%	5.9%
MDT	-	-	-
CNMD	$1.37B	3.4%	4.6%

Comparing TransMedics Group against the 5 most active filers in the same SIC group.

Cells marked with a small ◇ are sourced from SEC's bulk Financial Statement Data Sets, which can lose dimensional context (notably Revenue and Operating Income for issuers that report by segment). These cells will be replaced with authoritative values from the Company Facts API as the backfill completes.