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ANDOVER, Mass. - TransMedics Group, Inc. (NASDAQ:TMDX), a medical technology company specializing in organ transplant therapy, reported fourth-quarter earnings that exceeded analyst expectations, driving its stock up 11% in after-hours trading.
The company posted adjusted earnings per share of $0.19, surpassing the analyst estimate of $0.16. Revenue for the quarter reached $121.6 million, significantly beating the consensus estimate of $109.5 million and marking a 50% increase compared to the same period last year.
TransMedics also provided an optimistic outlook for fiscal year 2025, projecting revenue between $530 million and $552 million, above the analyst consensus of $521.6 million. This guidance suggests a growth rate of 20% to 25% compared to the company’s 2024 revenue.
"We are proud of our 2024 results as we delivered 83% YoY revenue growth while achieving profitability, investing in our pipeline, and continuing to build our infrastructure," said Waleed Hassanein, MD, President and CEO of TransMedics.
For the full year 2024, TransMedics reported total revenue of $441.5 million, an 83% increase from 2023. The company achieved net income of $35.5 million, or $1.01 per diluted share, compared to a net loss in the previous year.
TransMedics completed 3,715 U.S. OCS cases in 2024, representing a 58% increase from the previous year. The company’s overall OCS market share across all three organs rose to 20.9% in 2024, up from 13.8% in 2023.
The company ended the year with a cash position of $336.7 million as of December 31, 2024.
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