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TransMedics Group, Inc. (NASDAQ: TMDX) is a leading commercial-stage medical technology company revolutionizing organ transplant therapy for end-stage organ failure patients. Based in Andover, Massachusetts, the company was established to address the critical need for more and better organs for transplantation. TransMedics has developed the Organ Care System (OCS), a proprietary technology that preserves and optimizes donor organs outside the human body under near-physiological conditions.
TransMedics' breakthrough solutions aim to increase organ utilization, improve patient outcomes, and reduce transplant costs across the healthcare system. The company's flagship products, the OCS™ Lung and OCS™ Heart systems, are CE-marked and actively used commercially outside the U.S., while being under review by the FDA for U.S. market access. Additionally, the OCS™ Liver is undergoing an FDA pivotal trial (the OCS™ Liver PROTECT Trial) in the United States and a CE-mark trial (the Revive Trial) in Europe.
In a strategic move, TransMedics recently signed an agreement to acquire Summit Aviation, a premier U.S. charter flight operator, with the intent to establish TransMedics Aviation as the first national provider of air logistics dedicated to organ transplantation in the U.S. This acquisition aligns with the company's commitment to expanding its National OCS Program (NOP) and enhancing its logistics capabilities.
Financially, TransMedics has demonstrated significant growth. For the second quarter of 2023, the company reported total revenue of $52.5 million, a 156% increase from the same quarter the previous year. By year-end 2023, total revenue reached $241.6 million, a 159% increase compared to the prior year, driven by the increased utilization of the OCS through the NOP and additional revenue from logistics services.
TransMedics remains focused on advancing its product offerings and clinical indications while continuing to scale its operational infrastructure. As of the first quarter of 2024, the company achieved a revenue of $96.9 million, marking a 133% year-over-year increase, and recorded net income of $12.2 million. The full-year 2024 revenue forecast is projected to be in the range of $390 million to $400 million, reflecting continued strong growth.
With its innovative technologies and strategic expansions, TransMedics is poised to significantly contribute to the field of organ transplantation, enhancing the quality of life for patients worldwide.
TransMedics Group, Inc. (TMDX) reported significant financial growth in its Q4 and full-year 2022 results. Total revenue for Q4 reached $31.4 million, a remarkable 225% increase from Q4 2021, and the full-year revenue totaled $93.5 million, marking a 209% rise compared to 2021. Despite a net loss of $6.7 million for Q4, improved from $12.7 million in Q4 2021, the company continues to invest heavily in its Next Generation Organ Care System (OCS). For 2023, TransMedics anticipates revenue growth to $138 million to $145 million, reflecting an increase of 48% to 55% year-over-year.
TransMedics Group, a leader in organ transplant technology, announced participation in two major investor conferences. The company will engage in a fireside chat at the Cowen 43rd Annual Healthcare Conference on March 6, 2023, at 9:10 a.m. EST, and will present virtually at the Oppenheimer 33rd Annual Healthcare Conference on March 13, 2023, at 12:00 p.m. EST. Both events will feature a live and archived webcast accessible through the TransMedics investor website. TransMedics focuses on innovative solutions to enhance organ transplant therapies for patients facing end-stage organ failure.
TransMedics Group, Inc. (NASDAQ: TMDX) will announce its fourth quarter and full year 2022 financial results on February 22, 2023, after market close. A conference call will follow at 4:30 p.m. ET. Investors can access the call by dialing (866) 807-9684 domestically or (412) 317-5415 internationally. TransMedics specializes in portable extracorporeal warm perfusion and organ assessment technology, aimed at improving organ transplantation outcomes for patients suffering from end-stage heart, lung, and liver diseases.
TransMedics Group, Inc. (NASDAQ: TMDX) has appointed Nick Corcoran as Senior Vice President of Supply Chain and Operations, effective immediately. With 20 years of experience in global supply chain and commercial operations, including roles at Stryker Corporation, Corcoran will enhance TransMedics' operational efficiency to meet rising demand for OCS products. CEO Waleed Hassanein expressed confidence in Corcoran's ability to drive growth and optimize operations. TransMedics focuses on transforming organ transplant therapy through innovative technology, with headquarters in Andover, Massachusetts.
TransMedics Group, Inc. (Nasdaq: TMDX) announced its management team's presentation at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 5:15 p.m. PST. The event will focus on TransMedics' innovative organ transplant therapies for patients with end-stage organ failures. A live and archived webcast will be available on their website. Established in Andover, Massachusetts, TransMedics leads in portable extracorporeal warm perfusion, aiming to enhance donor organ preservation and viability.
On November 2, 2022, TransMedics Group, Inc. (NASDAQ: TMDX) announced the granting of non-qualified stock options for 138,400 shares to six new employees as an inducement for their employment. This was approved by the Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4). Each option has an exercise price of $46.36, reflecting the stock's closing price on the grant date. Vesting will occur at 25% after one year, with the remainder vesting monthly over three years, tied to continued employment.
TransMedics reported a net revenue of $25.7 million for Q3 2022, marking a 378% increase compared to Q3 2021. Revenue comprises $24.3 million in sales and a $1.4 million favorable adjustment. The company raised its 2022 revenue guidance to between $80 million and $85 million, reflecting 164% to 181% growth year-over-year. Gross margin improved to 71%, while operating expenses rose to $23.7 million. Despite a net loss of $7.4 million, cash reserves stand at $204.5 million.
TransMedics Group, Inc. (TMDX) will release its third-quarter 2022 financial results on November 3, 2022, after market close. A conference call is set for 4:30 p.m. ET to discuss the results, accessible via phone or through a live webcast on their website. TransMedics specializes in organ transplant technology, focusing on improving organ quality and viability for patients with end-stage heart, lung, and liver failure.
TransMedics Group, Inc. (Nasdaq: TMDX), a leader in organ transplant technology, will participate in the Morgan Stanley 20th Annual Global Healthcare Conference. The event is scheduled for September 12, 2022, at 11:40 a.m. ET at the Sheraton New York. The management team will engage in a fireside chat, which will be accessible via a live and archived webcast on the company's investors' webpage.
TransMedics focuses on enhancing organ quality and viability assessments to improve transplant outcomes for patients with end-stage organ failure.
TransMedics Group announced an upsize and pricing of a public offering of 3,250,000 shares of common stock at $40.00 each, expected to raise $130 million in gross proceeds. The offering is set to close on August 9, 2022, pending customary conditions. An option exists for underwriters to purchase an additional 487,500 shares. The offering is registered under an automatic shelf registration statement filed with the SEC on August 3, 2022. This move aims to enhance the company's capacity in organ transplant therapy technologies.
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