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Sep 30, 2020
TransMedics Q3 2020 Earnings Report
TransMedics' third quarter results reflected a slight decrease in revenue due to the COVID-19 pandemic's lingering impact, but gross margin improved and operating expenses decreased due to cash preservation measures.
Key Takeaways
TransMedics reported a net revenue of $7.1 million for Q3 2020, a 2% decrease compared to Q3 2019. The net loss was $5.1 million, an improvement from the $8.3 million loss in the same quarter of the previous year. The company's gross margin increased to 71%, and operating expenses decreased due to cash preservation efforts.
Net revenue was $7.1 million, a 2% decrease compared to Q3 2019.
Gross margin increased to 71% compared to 59% in Q3 2019.
Operating expenses decreased to $9.6 million from $11.5 million in Q3 2019.
Net loss improved to $5.1 million compared to $8.3 million in Q3 2019.
Forward Guidance
TransMedics is not providing annual guidance for 2020 due to the unpredictability of the duration and the magnitude of the impact of the COVID-19 pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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