Filing Flows › TransMedics Group (TMDX) › Q3 2026 › vs Q2 2026
TransMedics Group (TMDX) Q3 2026 vs Q2 2026 (quarter over quarter)
TransMedics Group's revenue rose $13.1M (+7%) from $190M in Q2 2026 to $203M in Q3 2026. The biggest changes: Service +$10.8M (+14%); Product +$2.3M (+2%). Gross margin 58.5% against 59.6% (-1.1 pts).
TransMedics Group, Q3 2026: revenue $203M (+41% year over year), operating margin 13.9%, net earnings $17.1M, operating cash flow $36.0M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 58.5% | 59.6% | -1.1 pts |
| Operating margin | 13.9% | 12.5% | +1.4 pts |
| Net margin | 8.4% | 7.7% | +0.7 pts |
| Free cash flow margin | 13.6% | 5.4% | +8.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Product | $113M | $111M | $2.3M | +2% |
| Service | $89.6M | $78.8M | $10.8M | +14% |
| Revenue | $203M | $190M | $13.1M | +7% |
| Gross profit | $119M | $113M | $5.5M | +5% |
| Cost of revenue | $84.3M | $76.8M | $7.6M | +10% |
| Operating profit | $28.1M | $23.7M | $4.4M | +19% |
| Operating expenses | $90.5M | $89.5M | $1.1M | +1% |
| Pre-tax earnings | $24.1M | $19.4M | $4.7M | +24% |
| Other expense, net | $4.0M | $4.3M | −$291K | -7% |
| Research & development | $29.2M | $31.6M | −$2.5M | -8% |
| SG&A | $61.3M | $57.8M | $3.5M | +6% |
| Net earnings | $17.1M | $14.7M | $2.4M | +16% |
| Income tax | $7.0M | $4.7M | $2.3M | +49% |
| Depreciation & amortization | $10.8M | $10.2M | $597K | +6% |
| Share-based compensation | $12.6M | $8.6M | $4.0M | +46% |
| Working capital & other | $4.5M | $16.2M | −$11.7M | -72% |
| Operating cash flow | $36.0M | $17.3M | $18.7M | +108% |
| Free cash flow (OCF − capex) | $27.6M | $10.2M | $17.4M | +170% |
| Capital expenditures | $8.4M | $7.1M | $1.3M | +18% |
Questions
How much did TransMedics Group's revenue grow quarter over quarter in Q3 2026?
TransMedics Group's revenue rose $13.1M (+7%) from $190M in Q2 2026 to $203M in Q3 2026.
What drove TransMedics Group's revenue change in Q3 2026?
Service +$10.8M (+14%); Product +$2.3M (+2%).