Filing Flows › TransMedics Group (TMDX) › Q1 2025
TransMedics Group (TMDX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
TransMedics Group (TMDX) reported revenue of $144M for the first quarter 2025 (Q1 2025), +48% from a year earlier and +18% from the quarter before. Operating margin was 19.1%, net earnings $25.7M (17.9% of revenue).
TransMedics Group, Q1 2025: revenue $144M (+48% year over year), operating margin 19.1%, net earnings $25.7M, operating cash flow −$2.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $144M | +18% | +48% |
| Gross profit | $88.2M | +23% | +47% |
| Operating profit | $27.4M | +217% | +121% |
| Net earnings | $25.7M | +275% | +111% |
| Operating cash flow | −$2.9M | — | — |
What changed
Revenue was $143.5M in Q1 2025, up 48% year over year and up 18% from the previous quarter. Product was the largest line at 61% of revenue. Product added $26.9M year over year (up 44%), 58% of the total change.
Gross margin was 61.5%, down 0.4 points from a year earlier. Operating profit was $27.4M, a 19.1% margin (up 6.3 points year over year). Of the extra revenue versus a year earlier, 32% reached operating profit, above the 13% margin then. Operating expenses grew 28% against revenue growth of 48%. The fastest-growing cost line was Research & development (+51%). Net earnings were $25.7M, up 111% year over year. The effective tax rate was 3.7%.
Operating cash flow was −$2.9M. Non-cash charges added back $6.1M of depreciation and amortization and $9.0M of share-based compensation. Working capital and other items used $43.6M. Capital expenditures of $27.0M exceeded it, leaving free cash flow of −$29.9M.
Questions
What was TransMedics Group's revenue in the first quarter 2025?
TransMedics Group (TMDX) reported revenue of $144M for the first quarter 2025 (Q1 2025), +48% from a year earlier and +18% from the quarter before.
Was TransMedics Group profitable in the first quarter 2025?
Operating profit was $27.4M (19.1% of revenue) and net earnings $25.7M.
Source: TransMedics Group 10-Q on SEC EDGAR.