Filing Flows › TransMedics Group (TMDX) › Q2 2026
TransMedics Group (TMDX) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
TransMedics Group (TMDX) reported revenue of $190M for the second quarter 2026 (Q2 2026), +21% from a year earlier and +9% from the quarter before. Operating margin was 12.5%, net earnings $14.7M (7.7% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $190M | +9% | +21% |
| Gross profit | $113M | +12% | +17% |
| Operating profit | $23.7M | +79% | -35% |
| Net earnings | $14.7M | +101% | -58% |
| Operating cash flow | $17.3M | -29% | -81% |
| Free cash flow | $10.2M | — | -88% |
What changed
Revenue was $189.9M in Q2 2026, up 21% year over year and up 9% from the previous quarter. Product was the largest line at 59% of revenue. Service added $17.5M year over year (up 29%), 54% of the total change.
Gross margin was 59.6%, down 1.8 points from Q2 2025. Operating profit was $23.7M, a 12.5% margin (down 10.7 points year over year). Operating profit fell $12.8M even though revenue rose $32.6M versus Q2 2025, so costs grew faster than sales. Operating expenses grew 49% against revenue growth of 21%. The fastest-growing cost line was Research & development (+99%). Net earnings were $14.7M, down 58% year over year. The effective tax rate was 24.3%.
Operating cash flow was $17.3M (down 81% year over year), 118% of net earnings. Non-cash charges added back $10.2M of depreciation and amortization and $8.6M of share-based compensation. Working capital and other items used $16.2M. Capital expenditures of $7.1M left free cash flow of $10.2M.
Questions
What was TransMedics Group's revenue in the second quarter 2026?
TransMedics Group (TMDX) reported revenue of $190M for the second quarter 2026 (Q2 2026), +21% from a year earlier and +9% from the quarter before.
Was TransMedics Group profitable in the second quarter 2026?
Operating profit was $23.7M (12.5% of revenue) and net earnings $14.7M.
Source: TransMedics Group 10-Q on SEC EDGAR.