TransMedics Group Inc

TMDX

Equity

ISIN US89377M1099 / Valor 47361695

NASDAQ (2024-11-20)

USD 77.20-6.90%

TransMedics Group Inc
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About company

TransMedics Group Inc is a company that offers technology and clinical services aimed at improving heart and lung transplant procedures. Their flagship product, the TransMedics Organ Care System (OCS™), is the only FDA-approved technology for lung, heart, and liver transplantation in the U.S. The company's solutions are designed to maximize transplant volume, improve clinical outcomes, and reduce learning curves for medical professionals.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

TransMedics Group Inc. reported a significant increase in total revenue for the first quarter of 2024, reaching $96.9 million. This represents a 133% growth compared to the $41.6 million reported in the first quarter of 2023. The surge in revenue was primarily driven by the increased utilization of the Organ Care System (OCS™) across all three organs through the National OCS Program (NOP) and additional revenue from TransMedics logistics services.

Net Income

For the first quarter of 2024, TransMedics Group Inc. achieved a net income of $12.2 million, or $0.35 per fully diluted share. This is a notable improvement compared to a net loss of $2.6 million in the first quarter of 2023. The positive net income reflects the company's successful efforts in driving revenue growth and achieving profitability.

Gross Margin

TransMedics Group Inc. reported a gross margin of 62% for the first quarter of 2024, which is a decrease from the 69% gross margin in the first quarter of 2023. The change in gross margin is attributed to a higher proportion of service revenue. However, it shows an improvement compared to the 59% gross margin reported in the fourth quarter of 2023.

Operating Expenses

Operating expenses for TransMedics Group Inc. in the first quarter of 2024 were $47.5 million, up from $30.9 million in the first quarter of 2023. The increase in operating expenses was primarily due to higher investments in research and development and organizational growth to support the company's expansion. This includes $6.5 million in stock compensation expenses, compared to $3.9 million in the same period last year.

Financial Outlook

TransMedics Group Inc. has raised its full-year 2024 revenue guidance to a range of $390 million to $400 million, representing a 61% to 66% growth compared to the prior year's revenue. The previous revenue guidance for 2024 was between $360 million and $370 million, indicating the company's confidence in continued strong performance and growth.

Summarized from source with an LLMView Source

Key figures

10.5%1Y

239%3Y

332%5Y

Performance

71.9%1Y

72.0%3Y

71.7%5Y

Volatility