NASDAQ · Financial Statements

TransMedics Group, Inc. (TMDX) Financial Statements

$70.74 NASDAQ: TMDX Market Cap $2.45B

TransMedics Group, Inc. most recently reported annual revenue of $605.0M, net profit of $190.0M. Revenue grew at an average annual rate of 87.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

TransMedics Group, Inc.: Revenue rose from $6.0M in 2016 to $605.0M in 2025, a change of +9983.3% over 9 years; net profit was positive in 2 of 10 reported years; operating margin moved from -370.2% to 17.9%, a shift of +388.1 percentage points; the most recent year shows net profit of $190.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$6.0M$8.0M$13.0M$24.0M$26.0M$30.0M$93.0M$242.0M$442.0M$605.0M
Operating Expenses$29.0M$28.0M$33.0M$53.0M$52.0M$70.0M$125.0M$270.0M$404.0M$497.0M
Operating Profit$-23.0M$-20.0M$-20.0M$-30.0M$-26.0M$-39.0M$-31.0M$-29.0M$37.0M$109.0M
Operating Margin-370.2%-265.8%-155.5%-125.4%-102.9%-130.3%-33.6%-11.9%8.5%17.9%
Other Income$-1.0M$0$-3.0M$-4.0M$-2.0M$-5.0M$-5.0M$2.0M$-2.0M$-1.0M
Interest$1.0M$1.0M$2.0M$4.0M$4.0M$4.0M$4.0M$11.0M$14.0M$14.0M
Depreciation$0$1.0M$1.0M$1.0M$2.0M$2.0M$3.0M$8.0M$20.0M$27.0M
Profit Before Tax$-24.0M$-21.0M$-24.0M$-34.0M$-29.0M$-44.0M$-36.0M$-27.0M$36.0M$108.0M
Tax$0$-150,000$-170,000$-120,000$-110,000$-80,000$-180,000$6.2M$880,000$-77.0M
Net Profit$-24.0M$-21.0M$-24.0M$-34.0M$-29.0M$-44.0M$-36.0M$-25.0M$35.0M$190.0M
EPS$-1.66$-1.44$-1.23$-2.36$-1.16$-1.60$-1.23$-0.77$1.01$4.87
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$66.0M$81.0M$97.0M$114.0M$109.0M$122.0M$144.0M$157.0M$144.0M$161.0M$174.0M$190.0M
Operating Expenses$95.0M$79.0M$84.0M$102.0M$105.0M$113.0M$116.0M$121.0M$121.0M$139.0M$161.0M$166.0M
Operating Profit$-28.0M$3.0M$12.0M$13.0M$4.0M$9.0M$27.0M$37.0M$23.0M$21.0M$13.0M$24.0M
Operating Margin-42.6%3.2%12.8%10.9%3.6%7.1%19.1%23.2%16.2%13.2%7.6%12.5%
Interest$4.0M$4.0M$4.0M$4.0M$4.0M$4.0M$3.0M$3.0M$3.0M$3.0M$7.0M$7.0M
Profit Before Tax$-27.0M$4.0M$12.0M$12.0M$4.0M$7.0M$27.0M$36.0M$23.0M$22.0M$8.0M$19.0M
Tax$5.6M$-4.3M$1.6M$-340,000$680,000$1.9M$3.7M$3.5M$-5.6M$-387.1M$13.8M$24.3M
Net Profit$-25.0M$4.0M$12.0M$12.0M$4.0M$7.0M$26.0M$35.0M$24.0M$105.0M$7.0M$15.0M
EPS$-0.78$0.12$0.35$0.35$0.12$0.19$0.70$0.92$0.66$2.59$0.20$0.41

Over the 10 years reported for TransMedics Group, Inc., borrowings increased from $8.0M in 2016 to $470.0M in 2025, cash stood at $488.0M in the latest year, shareholders' equity was $751.0M, current assets covered current liabilities 7.17 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$58.0M$37.0M$42.0M$105.0M$152.0M$135.0M$277.0M$706.0M$804.0M$1.1B
Current Assets$56.0M$34.0M$35.0M$100.0M$147.0M$119.0M$252.0M$511.0M$497.0M$638.0M
Cash$10.0M$12.0M$20.0M$20.0M$25.0M$26.0M$201.0M$395.0M$337.0M$488.0M
Inventory$6.0M$8.0M$9.0M$11.0M$12.0M$15.0M$21.0M$44.0M$47.0M$49.0M
Receivables$1.0M$1.0M$3.0M$7.0M$7.0M$6.0M$28.0M$64.0M$98.0M$84.0M
Fixed Assets$2.0M$2.0M$3.0M$5.0M$5.0M$16.0M$24.0M$180.0M$292.0M$333.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$38.0M$13.0M$1.0M$61.0M$101.0M$67.0M$1.0M$0$0$0
Other Assets$0$0$0$0$0$0$0$12.0M$12.0M$12.0M
Total Liabilities$19.0M$206.0M$47.0M$51.0M$48.0M$67.0M$90.0M$569.0M$575.0M$595.0M
Current Liabilities$9.0M$11.0M$13.0M$16.0M$12.0M$23.0M$24.0M$55.0M$60.0M$89.0M
Borrowings$8.0M$9.0M$34.0M$34.0M$35.0M$44.0M$68.0M$516.0M$518.0M$470.0M
Other Liabilities$11.0M$197.0M$13.0M$17.0M$13.0M$23.0M$22.0M$53.0M$57.0M$126.0M
Equity$0$0$331.0M$424.0M$502.0M$510.0M$666.0M$641.0M$697.0M$751.0M
Reserves$39.0M$-169.0M$-5.0M$55.0M$104.0M$68.0M$187.0M$137.0M$229.0M$473.0M

For TransMedics Group, Inc., operating cash flow was positive in 2 of 10 reported years; free cash flow in the latest year was $134.0M; free cash flow was positive in 1 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$-24.0M$-23.0M$-26.0M$-32.0M$-30.0M$-29.0M$-46.0M$-13.0M$49.0M$193.0M
Investing Cash Flow$-79.0M$50.0M$25.0M$-61.0M$-42.0M$26.0M$43.0M$-373.0M$-259.0M$-119.0M
Financing Cash Flow$0$0$-2.0M$-5.0M$1.0M$0$6.0M$-52.0M$0$17.0M
Net Cash Flow$0$2.0M$8.0M$0$4.0M$1.0M$176.0M$194.0M$-58.0M$152.0M
Free Cash Flow$-26.0M$-23.0M$-26.0M$-32.0M$-31.0M$-32.0M$-58.0M$-192.0M$-81.0M$134.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.17
EV / EBITDA26.85
FCF Yield2.80%
Quick Ratio6.07
Interest Coverage3.84
Return 1Y-32.58%
Return 3Y-21.42%
Return 5Y140.54%

TransMedics Group, Inc. (TMDX) financials — frequently asked questions

What is TransMedics Group, Inc.'s annual revenue?

TransMedics Group, Inc. (TMDX) reported annual revenue of $605.0M in its most recent fiscal year.

What is TransMedics Group, Inc.'s net profit?

TransMedics Group, Inc. (TMDX) reported net profit of $190.0M in its most recent fiscal year.

What is TMDX EV/EBITDA?

TransMedics Group, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 26.85.

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