TransMedics Group, Inc. (TMDX) Revenue History
Annual and quarterly revenue from 2016 to 2025
Compound Annual Growth Rate (CAGR)
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TMDX Revenue Growth
Revenue Breakdown (FY 2025)
TMDX's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
TMDX Revenue Analysis (2016–2025)
As of May 8, 2026, TransMedics Group, Inc. (TMDX) generated trailing twelve-month (TTM) revenue of $635.9 million, reflecting exceptional growth of +21.2% year-over-year. The most recent quarter (Q1 2026) recorded $173.9 million in revenue, up 8.2% sequentially.
Looking at the longer-term picture, TMDX's 5-year compound annual growth rate (CAGR) stands at +88.2%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $605.5 million in 2025, representing a new all-time high.
Revenue diversification analysis shows TMDX's business is primarily driven by Product (62%), and Service Revenue (38%). With over half of revenue concentrated in Product, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including STVN (+7.2% YoY), NVCR (+8.5% YoY), and LIVN (+12.4% YoY), TMDX has outperformed the peer group in terms of revenue growth. Compare TMDX vs STVN →
TMDX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TMDXCurrent | $636M | +21.2% | +88.2% | 17.9% | |
 STVN | $1.1B | +7.2% | +11.5% | 16.1% | |
 NVCR | $655M | +8.5% | +5.8% | -23.5% | |
 LIVN | $1.4B | +12.4% | +8.2% | 14.4% | |
 ATRC | $535M | +15.0% | +20.9% | -0.6% |
TMDX Historical Revenue Data (2016–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $605.5M | +37.1% | $362.8M | 59.9% | $108.6M | 17.9% |
| 2024 | $441.5M | +82.7% | $262.1M | 59.4% | $37.5M | 8.5% |
| 2023 | $241.6M | +158.5% | $154.1M | 63.8% | $-28,727,000 | -11.9% |
| 2022 | $93.5M | +208.8% | $65.3M | 69.8% | $-31,437,000 | -33.6% |
| 2021 | $30.3M | +18.0% | $21.2M | 69.9% | $-39,428,000 | -130.3% |
| 2020 | $25.6M | +8.6% | $16.6M | 64.9% | $-26,384,000 | -102.9% |
| 2019 | $23.6M | +81.3% | $13.9M | 58.7% | $-29,603,000 | -125.4% |
| 2018 | $13.0M | +69.4% | $5.7M | 44.1% | $-20,237,000 | -155.5% |
| 2017 | $7.7M | +23.8% | $2.1M | 27.8% | $-20,426,000 | -265.8% |
| 2016 | $6.2M | - | $766K | 12.3% | $-22,986,000 | -370.2% |
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Start ComparisonTMDX — Frequently Asked Questions
Quick answers to the most common questions about buying TMDX stock.
Is TMDX's revenue growth accelerating or slowing?
TMDX revenue is accelerating at +21.2% year-over-year, exceeding the 5-year CAGR of +88.2%. TTM revenue reached $636M. Growth momentum has increased versus prior periods.
What is TMDX's long-term revenue growth rate?
TransMedics Group, Inc.'s 5-year revenue CAGR of +88.2% reflects the sustained expansion pattern. Current YoY growth of +21.2% is above this long-term average.
How is TMDX's revenue distributed by segment?
TMDX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2016-2025 are available for download. Segment mix reveals concentration and diversification trends.