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 margins are expected to be up to approximately 250 basis points below 2025 full year levels in 2026, primarily reflecting the timing and scale of investments
80% confidenceOCS Liver reached 36% of U.S. liver transplant volume in 2025, up from 26% in 2024
80% confidenceTransMedics is just getting started and has sights focused on new peaks
80% confidenceTotal revenue for Q4 2025 was $160.8 million, representing approximately 32% growth year-over-year and approximately 12% sequential growth from Q3 2025
80% confidenceTotal revenue for Q4 2025 was $160.8 million, representing approximately 32% year-over-year growth and approximately 12% sequential growth
80% confidenceOUS (outside U.S.) transplant revenue grew approximately 33% sequentially to $5 million in Q4 2025
80% confidenceGross margin for full year 2025 was 59.9%, up from 59.4% in 2024, reflecting logistics efficiencies and scale benefits
80% confidenceOCS Liver reached 36% of U.S. liver transplant volume in 2025, up from 26% in 2024
80% confidenceTotal revenue for Q4 was approximately $161 million with U.S. transplant revenue at approximately $155 million, up 33% year-over-year and 11% sequentially
80% confidenceTransMedics achieved its best operational performance to date in Q4 2025
80% confidenceThe makers of the styrofoam box technology are refusing to randomize their technology against TransMedics in ENHANCE Part B trial
80% confidenceTransMedics achieved its best operational performance to date in Q4 2025 despite external challenges designed to distract and disrupt growth
80% confidenceMost lung centers were waiting to see FDA approval before launching into DENOVO program
80% confidenceTransMedics is laser-focused on ensuring successful execution of these initiatives throughout 2026
80% confidenceTransMedics has huge opportunities ahead but also a few challenges and moving dynamics, with guidance factoring in all factors to be realistic and enable execution
80% confidenceOCS was responsible for 5,139 U.S. transplants in 2025, up from 3,735 in 2024
80% confidenceCompetitor in ENHANCE Part B trial (makers of styrofoam box) is refusing to randomize their technology against TransMedics
80% confidenceOCS was responsible for 5,139 U.S. transplants in 2025, up from 3,735 in 2024
80% confidenceTotal revenue for Q4 2025 was $160.8 million, representing approximately 32% growth year-over-year and approximately 12% sequential growth from Q3 2025
80% confidenceTransMedics continues to expect operating margins to approach 30% by 2028
80% confidenceLiver market share gains represent pure TransMedics execution excellence
80% confidenceOCS Heart comprised 18% of heart transplants in 2025, up from 17% in 2024
80% confidenceTransMedics is just getting started and has sights focused on new peaks
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% confidenceTransMedics achieved our best operational performance to date with these results achieved despite external challenges earlier in the year that were designed to distract and disrupt our sustained and transformational growth
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% confidenceThe makers of that styrofoam box is refusing to randomize their technology to ours in ENHANCE Part B
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% confidenceBy organ, liver contributed $127 million, heart $26 million and lung $2 million in Q4 2025
80% confidence