TransMedics Group, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $605.5M | $441.5M | $241.6M | $93.5M | $31.4M |
| Cost of revenue | $242.7M | $179.5M | $87.5M | $28.2M | $9.1M |
| Gross profit | $362.8M | $262.1M | $154.1M | $65.3M | $21.2M |
| Selling, general & administrative | $185.2M | $168.6M | $119.6M | $69.9M | $38.3M |
| Research and development | $69.1M | $56.0M | $36.1M | $26.8M | $22.3M |
| Operating expenses | $254.2M | $224.6M | $182.8M | $96.7M | $60.6M |
| Operating income | $108.6M | $37.5M | -$28.7M | -$31.4M | -$39.4M |
| Interest expense | $13.8M | $14.4M | $10.8M | $3.7M | $3.9M |
| Pretax income | $107.5M | $35.8M | -$26.7M | -$36.2M | -$44.2M |
| Income tax expense | -$82.8M | $316,000 | -$1.6M | $66,000 | $36,000 |
| Net income | $190.3M | $35.5M | -$25.0M | -$36.2M | -$44.2M |
| Balance Sheet | |||||
| Cash and equivalents | — | — | $394.8M | $201.2M | $25.6M |
| Current assets | $637.8M | $497.2M | $510.7M | $252.3M | $118.7M |
| Total assets | $1.1B | $804.1M | $706.0M | $277.1M | $134.9M |
| Current liabilities | $89.3M | $59.9M | $54.9M | $23.7M | $23.2M |
| Total liabilities | $595.3M | $575.5M | $568.8M | $89.8M | $67.0M |
| Total debt | — | — | — | $60.0M | $35.0M |
| Stockholders' equity | $473.1M | $228.6M | $137.2M | $187.4M | $67.9M |
| Cash Flow Statement | |||||
| Cash from operations | $192.8M | $48.8M | -$13.0M | -$45.8M | -$28.9M |
| Depreciation and amortization | $27.2M | $19.8M | $8.2M | $3.5M | $1.8M |
| Stock-based compensation | $36.9M | $33.2M | $19.8M | $10.3M | $6.9M |
| Capital expenditure | $59.3M | $129.7M | $151.8M | $11.9M | $3.5M |
| Free cash flow | $133.6M | -$80.9M | -$164.9M | -$57.7M | -$32.4M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 34.6M · Free float 93.1%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.