TransMedics Group, Inc. operates as a commercial-stage medical technology enterprise, committed to transforming the landscape of organ transplant therapy for patients worldwide ...
TransMedics Group, Inc. (TMDX) is a medical device company focused on revolutionizing organ transplantation. The company's flagship product, the Organ Care System (OCS), is a portable perfusion and monitoring device that maintains donor organs in a near-physiological state, improving their quality and viability for transplantation. The OCS platform includes specialized ...TransMedics Group, Inc. (TMDX) is a medical device company focused on revolutionizing organ transplantation. The company's flagship product, the Organ Care System (OCS), is a portable perfusion and monitoring device that maintains donor organs in a near-physiological state, improving their quality and viability for transplantation. The OCS platform includes specialized modules: OCS LUNG, OCS Heart, and OCS Liver, addressing the most critical transplant needs. TransMedics aims to increase organ utilization, improve patient outcomes, and reduce transplant costs by providing a superior alternative to traditional static cold storage. The company generates revenue through the sale of OCS devices and related consumables, as well as services such as logistics and clinical support. In 2024, TransMedics reported revenues of $667 million, with a gross margin of 58.7% and a net margin of 22.7%, indicating strong profitability. The company is led by founder and CEO Dr. Waleed Hassanein, who established TransMedics in 1998 to address the growing shortage of healthy donor organs. The company operates in the United States and internationally, with strategic collaborations to expand its reach, such as with Mercedes-Benz for logistics and PAD Aviation for a European transplant logistics network. With a workforce of ~898 employees, TransMedics continues to innovate in the field of organ preservation, aiming to improve the lives of patients awaiting transplants and reduce the overall burden of end-stage organ failure.
Operator: Good afternoon, and welcome to TransMedics Second Quarter 2026 Earnings Conference Call. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Hannah Jeffrey from The Gilmartin Group for a few introductory comments. Hannah Jeffrey Thank you. Earlier today, TransMedics released financial results for the quarter ended June 30, 2026. A copy of the press release is available on the company's website. Before we begin, I would like to remind you that management will make statements during this call, including during the question-and-answer portion of the call, that include forward-looking statements within the meaning of federal securities laws. Any statements made during this call that can relate to future events, results or performance, including expectations or predictions, are forward-looking statements. All forward-looking statements, including, without limitation, our examination of operating trends, the potential commercial opportunity for our products and services, the potential timing, benefits or outcomes of new clinical programs and our future financial expectations, which include expectations for growth in our organization and guidance and/or expectations for revenue, gross margins and operating expenses in 2026 and beyond, are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. Additional information regarding these risks and uncertainties appears under the heading Risk Factors of our Form 10-K filed with the Securities and Exchange Commission on February 24, 2026, our subsequent SEC filings and the forward-looking statements included in today's earnings press release, which are available at www.sec.gov and our website at www.transmedics.com. TransMedics disclaims any intention or obligation, except as required by law, to update or revise any financial projections, expectations, predictions or forward-looking statements, whether because of new information, future events or developments or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast today, August 4, 2026. With that, I will now turn the call over to Waleed Hassanein, President and Chief Executive Officer.
Waleed Hassanein: Thank you so much, Hannah. Good afternoon, everyone, and thank you for joining TransMedics Second Quarter 2026 Earnings Call. With me today is Gerardo Hernandez, our Chief Financial Officer. Before reviewing our second quarter performance and future catalysts, I want to take a moment to reflect on what we've built at TransMedics and the unparalleled value we are delivering every day for organ transplant patients globally. TransMedics operates a first-in-class vertically …