Loading...
•
Mar 31, 2023
TransMedics Q1 2023 Earnings Report
Reported a significant revenue increase driven by NOP adoption and OCS sales.
Key Takeaways
TransMedics reported a strong first quarter with a 162% increase in revenue compared to the previous year, driven primarily by the adoption of the National OCS Program (NOP) and increased sales of OCS Liver and OCS Heart. The company is updating its full year 2023 revenue guidance to be in the range of $160 million to $170 million.
Net revenue reached $41.6 million, a 162% increase compared to Q1 2022.
Transplant centers' use of the National OCS Program (NOP) drove approximately 91% of total U.S. OCS cases.
Gross margin was 69%, compared to 76% in the first quarter of 2022.
Net loss for the first quarter of 2023 was $2.6 million, compared to $10.6 million in the first quarter of 2022.
Forward Guidance
TransMedics is updating its full year 2023 revenue guidance to be in the range of $160 million to $170 million, which represents 71% to 82% growth compared to the company’s prior year revenue.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...