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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Operating margin expanded from 8.5% in 2024 to 18% in 2025
80% confidenceOperating margin expanded from 8.5% in 2024 to 18% in 2025
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% confidenceOperating margins expected to be up to approximately 250 basis points below 2025 full year levels in 2026, primarily reflecting timing and scale of investments
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% 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% confidenceOCS Liver market share gains represent pure TransMedics execution excellence
80% confidenceMost lung centers were waiting to see FDA approval to start launching into DENOVO program
80% confidenceUpcoming OCS Liver registry publication will show unequivocal statistical superiority in the most important outcomes after liver transplantation
80% confidenceOperating margins expected to be up to approximately 250 basis points below 2025 full year levels in 2026, primarily reflecting timing and scale of investments
80% confidenceUpcoming OCS Liver registry publication will show unequivocal statistical superiority in the most important outcomes after liver transplantation
80% confidenceOCS was responsible for 5,139 U.S. transplants in 2025, up from 3,735 in 2024
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% confidenceMost lung transplant centers were waiting for FDA approval before launching into DENOVO program
80% confidenceOUS transplant revenue grew approximately 33% sequentially to $5 million
80% confidenceTransMedics is not seeing competitive dynamic impacting ability to execute in 2026 and beyond
80% confidenceOCS Liver reached 36% of U.S. liver transplant volume, up from 26% in 2024, and OCS Heart comprised 18% of heart transplants, up from 17%
80% confidenceOperating margin expanded from 8.5% in 2024 to 18% in 2025
80% confidenceOperating margin expanded from 8.5% in 2024 to 18% in 2025
80% confidenceThe makers of styrofoam box competitor are refusing to randomize their technology against OCS in ENHANCE Part B
80% confidenceOCS Liver reached 36% of U.S. liver transplant volume in 2025, up from 26% in 2024
80% confidence2026 operating margins expected to be up to approximately 250 basis points below 2025 full year levels, primarily reflecting timing and scale of investments
80% confidenceAlmost 50% of incremental investment in 2026 is driven by three elements that are transitory by nature
80% confidence