TransMedics Group, Inc. reported strong financial results for Q3 2024, with total revenue of $108.8 million, a 64% increase YoY. The company generated net income of $4.2 million or $0.12 per diluted share. Growth was driven by increased utilization of the Organ Care System across all organs and additional revenue from TransMedics logistics services.Gross margin was 56%, down from 61% in Q3 2023 due to a higher proportion of lower-margin service revenue. Operating expenses decreased to $56.9 million from $69.0 million YoY, primarily due to non-recurring R&D expenses in 2023. Cash position stood at $330.1 million as of September 30, 2024.TransMedics maintained its full-year 2024 revenue guidance of $425-$445 million, representing 76-84% growth YoY. The company remains confident in its growth initiatives and trajectory towards achieving 10,000 OCS transplant cases per year in the U.S. by 2028.

TransMedics Group, Inc. reported strong financial results for Q3 2024, with total revenue of $108.8 million, a 64% increase YoY. The company generated net income of $4.2 million or $0.12 per diluted share. Growth was driven by increased utilization of the Organ Care System across all organs and additional revenue from TransMedics logistics services.Gross margin was 56%, down from 61% in Q3 2023 due to a higher proportion of lower-margin service revenue. Operating expenses decreased to $56.9 million from $69.0 million YoY, primarily due to non-recurring R&D expenses in 2023. Cash position stood at $330.1 million as of September 30, 2024.TransMedics maintained its full-year 2024 revenue guidance of $425-$445 million, representing 76-84% growth YoY. The company remains confident in its growth initiatives and trajectory towards achieving 10,000 OCS transplant cases per year in the U.S. by 2028.