- TransMedics Group Inc (NASDAQ:TMDX) shares got a massive boost after better than expected Q1 earnings and 2022 guidance.
- The company posted an EPS loss of $(0.38) in line with expectations and higher than $(0.29) a year ago despite more than doubling its sales from Q1 FY21.
- Net revenue of $15.9 million increased 125% Y/Y, beating the consensus of 9.65 million.
- "We are proud of our strong first-quarter revenue performance and are now laser-focused on continuing to drive commercial growth across each of our three OCS technology platforms," said TransMedics President and CEO Waleed Hassanein.
- The company held cash, cash equivalents, and marketable securities of $72 million.
- Guidance: TransMedics expects FY22 sales of $59 million - $65 million (consensus of $52.8 million), representing a Y/Y growth of 95% to 115%. That reflects a massive improvement upon the previously projected guidance of $49 million to $55 million.
- Recently, the FDA granted premarket approval to TransMedics' OCS Heart System for use with organs from donors after circulatory death.
- Price Action: TMDX shares are up 27.90% at $28.04 during the market session on the last check Wednesday.
