TransMedics Group, Inc.

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

TMDX$93.79+6.3%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

(In thousands, except share and per share amounts)

	Year Ended December 31,
	2025	2024	2023
Revenue:
Net product revenue	$372,401	$273,866	$176,069
Service revenue	233,093	167,674	65,554
Total revenue	605,494	441,540	241,623
Cost of revenue:
Cost of net product revenue	77,822	58,345	41,015
Cost of service revenue	164,866	121,114	46,515
Total cost of revenue	242,688	179,459	87,530
Gross profit	362,806	262,081	154,093
Operating expenses:
Research, development and clinical trials	69,055	55,968	36,055
Acquired in-process research and development expenses	—	—	27,212
Selling, general and administrative	185,168	168,617	119,553
Total operating expenses	254,223	224,585	182,820
Income (loss) from operations	108,583	37,496	(28,727)
Other income (expense):
Interest expense	(13,782)	(14,409)	(10,791)
Interest income and other income (expense), net	12,721	12,693	12,847
Total other income (expense), net	(1,061)	(1,716)	2,056
Income (loss) before income taxes	107,522	35,780	(26,671)
(Provision) benefit for income taxes	82,769	(316)	1,643
Net income (loss)	$190,291	$35,464	$(25,028)
Net income (loss) per share:
Basic	$5.60	$1.07	$(0.77)
Diluted	$4.87	$1.01	$(0.77)
Weighted average common shares outstanding:
Basic	33,993,468	33,229,953	32,517,372
Diluted	40,540,694	35,216,837	32,517,372

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.