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TMDX 8-K filings in 2026
Every material Form 8-K TransMedics Group filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
TransMedics reported third-quarter 2026 revenue of $203.0 million, up 41%, and raised its full-year 2026 revenue guidance to $764-$774 million, including about $14 million from PAD Aviation. Net income fell to $17.1 million, or $0.46 per diluted share, from $24.3 million, or $0.66, a year earlier, as operating expenses rose to $90.5 million.
Q3 2026 revenue was $203.0 million, up from $143.8 million in Q3 2025.
Q3 2026 net income was $17.1 million, or $0.46 per diluted share, versus $24.3 million, or $0.66, in Q3 2025.
Full-year 2026 revenue guidance was raised to $764-$774 million, including PAD Aviation; excluding PAD Aviation, guidance is $750-$760 million, up from $737-$757 million.
Operating expenses were $90.5 million, compared with $61.3 million in Q3 2025; cash was $493.0 million as of September 30, 2026.
TransMedics appointed Fernando Araujo, most recently CFO of GE HealthCare's Advanced Imaging Solutions segment, as Chief Financial Officer and Treasurer effective September 21, 2026, succeeding Gerardo Hernandez, who will move to a non-executive role and then a senior advisor position focused on Latin America. In the same announcement, the company reiterated its 2026 revenue guidance of $737 million to $757 million, which excludes PAD Aviation and will be revisited with third quarter results. The filing reports no change to financial results or guidance, but the change in finance leadership is a notable item for shareholders.
Fernando Araujo, age 46, becomes CFO and Treasurer effective September 21, 2026, with a $590,000 base salary and a 60% target bonus
Araujo receives a $200,000 cash sign-on bonus plus initial stock option and RSU awards each with a grant date value of approximately $1.75 million
Gerardo Hernandez remains a non-executive employee through December 31, 2026, then serves as a non-employee senior advisor until April 30, 2027
2026 revenue guidance of $737 million to $757 million was reiterated; the company will revisit it with third quarter 2026 results
TransMedics reported second quarter 2026 revenue of $189.9 million, up 21% from a year earlier. Income from operations fell to $23.7 million from $36.6 million, and diluted earnings per share fell to $0.41 from $0.92, as operating expenses rose to $89.5 million from $60.0 million. The company raised the low end of its full-year 2026 revenue guidance to a range of $737 million to $757 million, which excludes PAD Aviation.
Q2 2026 revenue was $189.9 million, up 21% from $157.4 million; product revenue was $111.2 million and service revenue was $78.8 million.
Income from operations was $23.7 million versus $36.6 million, and diluted EPS was $0.41 versus $0.92 in Q2 2025.
Full-year 2026 revenue guidance low end raised; range is now $737 million to $757 million, up from $727 million to $757 million.
Operating expenses were $89.5 million, driven by planned investment in OCS Kidney, Gen 3.0 and clinical programs; cash was $472.7 million as of June 30, 2026.
TransMedics reported first quarter 2026 revenue of $173.9 million, up 21% from a year earlier, but net income fell to $7.3 million, or $0.20 per diluted share, from $25.7 million, or $0.70 per share, in the first quarter of 2025. The company reiterated its full year 2026 revenue guidance of $727 million to $757 million, which it said represents 20% to 25% growth.
Revenue of $173.9 million for the quarter ended March 31, 2026, up 21% from $143.5 million a year earlier
Net income of $7.3 million, or $0.20 per diluted share, versus $25.7 million, or $0.70, in the prior-year quarter; gross margin was 58% compared with 61%
Adjusted net income of $10.9 million, or $0.30 per diluted share, a non-GAAP measure; cash was $461.7 million as of March 31, 2026
Full year 2026 revenue guidance of $727 million to $757 million was reiterated, not changed
TransMedics added detail to its fourth-quarter 2025 results, showing that a $103.3 million release of a U.S. tax valuation allowance produced a $83.8 million net income tax benefit. At a 19.1% annual effective tax rate, fourth-quarter net income would be $17.5 million, or $0.47 per diluted share, versus the reported $105.4 million, or $2.62 per share. The company expects future quarterly tax provisions to be more in line with U.S. statutory rates.
Released $103.3 million U.S. tax valuation allowance in Q4 2025, producing an $83.8 million net income tax benefit
Reported Q4 2025 net income of $105.4 million ($2.62 per diluted share); adjusted net income of $17.5 million ($0.47 per share)
2025 annual effective tax rate was (77.0)%; excluding the release, it would have been 19.1%
TransMedics reported fourth quarter 2025 revenue of $160.8 million, up 32% from a year earlier, and full year 2025 revenue of $605.5 million, up 37%. Net income was boosted by an $83.8 million tax benefit in the quarter, mainly from a one-time $103.3 million release of a deferred tax asset valuation allowance, and the company guided to 2026 revenue of $727 million to $757 million.
Q4 2025 revenue $160.8 million, up 32% from $121.6 million; net income $105.4 million, or $2.62 per diluted share, versus $0.19 a year earlier
Q4 net income includes an $83.8 million tax benefit, primarily a one-time $103.3 million valuation allowance release
Full year 2025 revenue $605.5 million, up 37%; net income $190.3 million, or $4.87 per diluted share
2026 revenue outlook of $727 million to $757 million, 20% to 25% growth; Q4 gross margin 58% versus 59% a year earlier
TransMedics appointed Giovanni Cecere as Chief Commercial Officer effective February 2, 2026, succeeding Tamer Khayal, who moves to Senior Vice President of International. The company also named Matthew Forsyth General Counsel effective March 9, 2026 or his later employment start date, succeeding Anil Ranganath, who will stay with the company through June 7, 2026 and then serve as a consultant until September 7, 2026. The filing lists severance-related payments to Ranganath, so these are senior executive changes shareholders may want to track.
Giovanni Cecere named Chief Commercial Officer effective February 2, 2026, succeeding Tamer Khayal, who had held the role since January 2018
Matthew Forsyth appointed Senior Vice President, General Counsel & Corporate Secretary, effective March 9, 2026 or his employment start date if later
Anil Ranganath moves to a non-executive role, remains employed until June 7, 2026, then serves as a consultant until September 7, 2026 at an annualized fee of $10,000
Ranganath's retention agreement payments include 0.75 times his highest base salary and bonus over the prior three years, up to nine months of COBRA premiums, and a pro-rated 2026 bonus
TransMedics entered a lease on January 8, 2026 for about 498,286 square feet at 188 Assembly Park Drive in Somerville, Massachusetts, to serve as its new headquarters beginning on or before January 1, 2028, replacing its Andover site. The filing also discloses initial annual base rent of about $23.9 million, an $18 million letter of credit security deposit, and the purchase of two adjacent parcels for $15.0 million each.
Lease covers about 498,286 square feet; base rent initially about $23.9 million per year, rising 2% annually
Lease initial term is 192 months from the Rent Commencement Date, with two ten-year extension options
Security deposit delivered as a letter of credit of about $18 million
On January 8, 2026, the company bought two adjacent Somerville parcels for $15.0 million each, plus related costs
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every TransMedics Group filing is on SEC EDGAR ↗. 8-K briefs of other companies →