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Sep 30, 2023
TransMedics Q3 2023 Earnings Report
Reported financial results for Q3 2023.
Key Takeaways
TransMedics reported a significant increase in revenue for the third quarter of 2023, driven by greater utilization of their NOP across all three OCS products and the addition of logistics and aviation revenue, but experienced a net loss due to non-recurring acquisition-related costs.
Net revenue reached $66.4 million in Q3 2023, a 159% increase compared to Q3 2022, including $1.6 million non-recurring charter revenue.
Acquisition of Summit Aviation closed, adding aviation service to NOP offering and driving $2.1 million incremental transplant related revenue in Q3.
Gross margin for Q3 2023 was 61%, impacted by transition initiatives following the Summit Aviation acquisition.
Net loss for Q3 2023 was $25.4 million, driven primarily by $29.2 million in non-recurring acquisition-related costs.
Forward Guidance
TransMedics is updating its full year 2023 revenue guidance to be in the range of $222 million to $230 million, which represents 138% to 146% growth compared to the company’s prior year revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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