TransMedics outlines 20–25% 2026 revenue growth target while advancing OCS programs and European expansion
View original at seekingalpha.comTransMedics outlines 20–25% 2026 revenue growth target while advancing OCS programs and European expansion Earnings Call Insights: TransMedics Group, Inc…
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The makers of that styrofoam box is refusing to randomize their technology to ours in ENHANCE Part B
80% confidenceTransMedics has huge opportunities ahead but also faces a few challenges and moving dynamics, which have been factored into guidance
80% confidenceBy organ, liver contributed $127 million, heart $26 million and lung $2 million in Q4
80% confidenceU.S. transplant revenue grew approximately 11% sequentially to $155 million, while OUS transplant revenue grew approximately 33% sequentially to $5 million
80% confidenceTransMedics delivered an operating profit of approximately $21.3 million in Q4, representing approximately 13.2% of total revenue for fourth quarter while making substantial investments to fuel growth
80% confidenceMost lung centers were waiting to see FDA approval to start launching into DENOVO program
80% confidenceResults were achieved despite external challenges earlier in the year designed to distract and disrupt sustained growth
80% confidenceBy organ, liver contributed $127 million, heart $26 million and lung $2 million in Q4 2025
80% confidenceNOP Connect 2.0 is showing efficiency in management and billing, though in early stages
80% confidenceU.S. transplant revenue grew approximately 11% sequentially to $155 million
80% confidenceOCS was responsible for 5,139 U.S. transplants in 2025, up from 3,735 in 2024
80% confidenceTransMedics continues to expect operating margins to approach 30% by 2028
80% confidenceTransMedics is laser-focused on ensuring successful execution of initiatives throughout 2026
80% confidenceOCS Heart comprised 18% of heart transplants in 2025, up from 17% in 2024
80% confidenceTotal revenue for Q4 was approximately $161 million with U.S. transplant revenue of approximately $155 million, up 33% year-over-year and 11% sequentially
80% confidenceOperating margin expanded from 8.5% in 2024 to 18% in 2025
80% confidenceOperating margins are expected to approach 30% by 2028
80% confidenceOUS (outside U.S.) transplant revenue grew approximately 33% sequentially to $5 million in Q4 2025
80% confidenceLiver share gains are pure TransMedics execution excellence
80% confidenceTransMedics delivered 'our best operational performance to date' and achieved results despite external challenges earlier in the year designed to distract and disrupt sustained growth
80% confidenceTransMedics is laser-focused on ensuring successful execution of these initiatives throughout 2026
80% confidenceLiver market share gains are pure TransMedics execution excellence, period, full stop
80% confidenceTransMedics continues to expect operating margins to approach 30% by 2028
80% confidenceLiver market share gains represent pure TransMedics execution excellence
80% confidenceTransMedics is not seeing competitive dynamics impacting ability to execute in 2026 and beyond
80% confidenceTransMedics has huge opportunities ahead but also a few challenges and moving dynamics, which were factored into realistic guidance
80% confidenceOperating margin expanded from 8.5% in 2024 to 18% in 2025
80% confidenceOCS Heart comprised 18% of heart transplants in 2025, up from 17% in 2024
80% confidenceNOP Connect 2.0 showing efficiency in management and billing, though these are early days
80% confidenceGross margin for full year 2025 was 59.9%, up from 59.4% in 2024, reflecting logistics efficiencies and scale benefits
80% confidence