Investing
TMDX Stock Climbs 21.6% as TransMedics Raises 2026 Guidance
TransMedics stock rose 21.6% after third quarter revenue grew 41% to $203.0 million and the company raised its full-year 2026 revenue guidance.
TransMedics (TMDX) shares were up 21.6% in regular trading on November 6, 2026, the morning after the organ transplant technology company published third quarter results. Revenue grew 41% to $203.0 million, and TransMedics raised its full-year 2026 revenue guidance, which is the sales forecast it gives investors.
What TransMedics reported
| Metric | This period | A year earlier | Change |
|---|---|---|---|
| Total revenue | $203.0 million | $143.8 million | +41% |
| Product revenue | $113.4 million | $87.7 million | +29% |
| Service revenue | $89.6 million | $56.1 million | +60% |
| Income from operations | $28.1 million | $23.3 million | +21% |
| Diluted earnings per share | $0.46 | $0.66 | -30% |
Excluding PAD Aviation, an air transport business TransMedics invested in on July 1, 2026, the guidance range moved from $737-$757 million to $750-$760 million. Including about $14 million expected from PAD Aviation, the new range is $764-$774 million, or 26% to 28% growth on 2025 revenue.
Profit fell even as sales grew. Operating expenses rose to $90.5 million from $61.3 million on spending for OCS Kidney, next-generation OCS and clinical trials, and a $7.0 million tax charge replaced a $1.3 million tax benefit a year earlier. Net income was $17.1 million, down from $24.3 million.
Why the stock rose 21.6%
The gain was about seven times the size of a typical day's swing for the stock. Organic growth, which leaves out PAD Aviation, was 35%, and the company said rising liver and heart volume through its National OCS Program drove the quarter. Chief executive Waleed Hassanein called it "the strongest in TransMedics' history, with record revenue and record case volume," achieved "before any contribution from ENHANCE Part B or DENOVO." The higher guidance range added to the reaction.
What to watch next
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Enrollment updates for the ENHANCE Heart Part B and DENOVO Lung trials, both cleared by the FDA in October.
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The planned launch of OCS NOP in Italy, the Netherlands and Belgium.
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First-in-human use of OCS Kidney, targeted for the second half of 2027.
FAQ
What does TransMedics do?
TransMedics makes the Organ Care System (OCS), which keeps donor hearts, lungs and livers warm and assesses them outside the body before transplant. It also runs transport for organs and medical teams, including through PAD Aviation.
How much cash does TransMedics have?
TransMedics held $493.0 million in cash as of September 30, 2026. Adjusted earnings per share, which exclude items such as deal and headquarters relocation costs, were $0.51 in the quarter against $0.67 a year earlier.
Sources
This article is for information only and is not investment advice.