TransMedics Stock Jumps 28% After Raising Revenue Guidance in Results Released Thursday

TransMedics Group (Nasdaq: TMDX) shares rose 27.9% on Friday, closing at $88.24 against a previous close of $68.98, as the company's third-quarter results and raised full-year guidance drew heavy trading. Volume ran about 4.5 times normal, while the S&P 500 ETF (SPY) gained 0.31% over the session.

The company reported results in an 8-K filed Nov. 5, 2026, which furnished a press release for the quarter ended Sept. 30, 2026. Total revenue was $203.0 million, up 41% from a year earlier, and included organic revenue growth of 35%. Net income was $17.1 million, or $0.46 per diluted share, down from $24.3 million, or $0.66, in the same quarter of 2025.

Guidance raised to $764-$774 million

TransMedics raised its full-year 2026 revenue guidance to between $764 million and $774 million, including approximately $14 million from PAD Aviation. Excluding PAD Aviation, the updated range is $750 million to $760 million, up from $737 million to $757 million previously.

The company said the quarter was its strongest in its history, with record revenue and record case volume. Service revenue rose 60% to $89.6 million.

Margins and spending

Gross margin was 58.5%, compared with 58.8% a year earlier. Operating expenses rose to $90.5 million from $61.3 million, driven by spending on the OCS Kidney, next-generation OCS and ENHANCE clinical programs. Income from operations was $28.1 million, up 21%.

Pipeline updates

The press release also cited FDA investigational device exemption approvals for Part B of the ENHANCE Heart trial and the DENOVO Lung trial in October, and the company's first European transplant logistics tender in Italy.

The company had cash of $493.0 million as of Sept. 30, 2026.