Filing Flows › TransMedics Group (TMDX) › Q2 2026 › vs Q1 2026
TransMedics Group (TMDX) Q2 2026 vs Q1 2026 (quarter over quarter)
TransMedics Group's revenue rose $16.0M (+9%) from $174M in Q1 2026 to $190M in Q2 2026. The biggest changes: Service +$12.8M (+19%); Product +$3.2M (+3%). Gross margin 59.6% against 58.2% (+1.4 pts).
TransMedics Group, Q2 2026: revenue $190M (+21% year over year), operating margin 12.5%, net earnings $14.7M, operating cash flow $17.3M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 59.6% | 58.2% | +1.4 pts |
| Operating margin | 12.5% | 7.6% | +4.9 pts |
| Net margin | 7.7% | 4.2% | +3.5 pts |
| Free cash flow margin | 5.4% | -7.0% | +12.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Product | $111M | $108M | $3.2M | +3% |
| Service | $78.8M | $66.0M | $12.8M | +19% |
| Revenue | $190M | $174M | $16.0M | +9% |
| Gross profit | $113M | $101M | $12.0M | +12% |
| Cost of revenue | $76.8M | $72.8M | $4.0M | +5% |
| Operating profit | $23.7M | $13.3M | $10.4M | +79% |
| Operating expenses | $89.5M | $87.9M | $1.6M | +2% |
| Pre-tax earnings | $19.4M | $8.5M | $10.9M | +129% |
| Other expense, net | $4.3M | $4.8M | −$481K | -10% |
| Research & development | $31.6M | $24.9M | $6.8M | +27% |
| SG&A | $57.8M | $63.0M | −$5.2M | -8% |
| Net earnings | $14.7M | $7.3M | $7.4M | +101% |
| Income tax | $4.7M | $1.2M | $3.6M | +304% |
| Operating cash sources | $33.5M | $29.1M | $4.4M | +15% |
| Depreciation & amortization | $10.2M | $11.9M | −$1.6M | -14% |
| Share-based compensation | $8.6M | $10.0M | −$1.3M | -14% |
| Working capital & other | $16.2M | $4.6M | $11.6M | +253% |
| Operating cash flow | $17.3M | $24.5M | −$7.2M | -29% |
| Free cash flow (OCF − capex) | $10.2M | −$12.1M | $22.3M | — |
| Capital expenditures | $7.1M | $36.7M | −$29.6M | -81% |
Questions
How much did TransMedics Group's revenue grow quarter over quarter in Q2 2026?
TransMedics Group's revenue rose $16.0M (+9%) from $174M in Q1 2026 to $190M in Q2 2026.
What drove TransMedics Group's revenue change in Q2 2026?
Service +$12.8M (+19%); Product +$3.2M (+3%).