Filing Flows › TransMedics Group (TMDX) › Q3 2026
TransMedics Group (TMDX) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
TransMedics Group (TMDX) reported revenue of $203M for the third quarter 2026 (Q3 2026), +41% from a year earlier and +7% from the quarter before. Operating margin was 13.9%, net earnings $17.1M (8.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $203M | +7% | +41% |
| Gross profit | $119M | +5% | +40% |
| Operating profit | $28.1M | +19% | +21% |
| Net earnings | $17.1M | +16% | -30% |
| Operating cash flow | $36.0M | +108% | -48% |
| Free cash flow | $27.6M | +170% | -55% |
What changed
Revenue was $203.0M in Q3 2026, up 41% year over year and up 7% from the previous quarter. Product was the largest line at 56% of revenue. Service added $33.4M year over year (up 60%), 57% of the total change.
Gross margin was 58.5%, down 0.4 points from Q3 2025. Operating profit was $28.1M, a 13.9% margin (down 2.3 points year over year). Of the extra revenue versus Q3 2025, 8% reached operating profit, below the 16% margin then. Operating expenses grew 48% against revenue growth of 41%. The fastest-growing cost line was Research & development (+91%). Net earnings were $17.1M, down 30% year over year. The effective tax rate was 29.2%.
Operating cash flow was $36.0M (down 48% year over year), 211% of net earnings. Non-cash charges added back $10.8M of depreciation and amortization and $12.6M of share-based compensation. Working capital and other items used $4.5M. Capital expenditures of $8.4M left free cash flow of $27.6M.
Questions
What was TransMedics Group's revenue in the third quarter 2026?
TransMedics Group (TMDX) reported revenue of $203M for the third quarter 2026 (Q3 2026), +41% from a year earlier and +7% from the quarter before.
Was TransMedics Group profitable in the third quarter 2026?
Operating profit was $28.1M (13.9% of revenue) and net earnings $17.1M.
Source: TransMedics Group 10-Q on SEC EDGAR.