TransMedics Group reported robust financial results for Q3 2024, with total revenue surging 64% year-over-year to $108.8 million. Net income reached $4.2 million, a significant improvement from a net loss of $25.4 million in Q3 2023. The company's OCS transplant-related revenue in the U.S. grew by $45.2 million to $104.9 million, driven by higher sales volumes across all organ products and increased usage of its National OCS Program (NOP).Gross profit increased by $20.2 million to $60.8 million, though overall gross margin decreased to 56% from 61% due to the relative increase in lower-margin service revenue. Operating expenses rose to $56.9 million, with research and development costs increasing to support the next-generation OCS program. Selling, general, and administrative expenses grew to $42.7 million, reflecting expanded personnel and infrastructure to...Show More

TransMedics Group reported robust financial results for Q3 2024, with total revenue surging 64% year-over-year to $108.8 million. Net income reached $4.2 million, a significant improvement from a net loss of $25.4 million in Q3 2023. The company's OCS transplant-related revenue in the U.S. grew by $45.2 million to $104.9 million, driven by higher sales volumes across all organ products and increased usage of its National OCS Program (NOP).Gross profit increased by $20.2 million to $60.8 million, though overall gross margin decreased to 56% from 61% due to the relative increase in lower-margin service revenue. Operating expenses rose to $56.9 million, with research and development costs increasing to support the next-generation OCS program. Selling, general, and administrative expenses grew to $42.7 million, reflecting expanded personnel and infrastructure to support business growth.TransMedics' NOP continued to drive growth, with the addition of logistics services further boosting product and service revenue. The company maintained a strong cash position, with interest income of $3.3 million offsetting interest expenses. Looking ahead, TransMedics expects continued revenue growth from NOP expansion and increased OCS utilization in organ transplantation.