TransMedics (NSDQ:TMDX) this week posted second-quarter financial results that beat the revenue consensus on Wall Street and missed earnings estimates.
The Andover, Massachusetts-based organ preservation tech company reported losses of $11.5 million, or -41¢ per share, on sales of $20.5 million for the three months ended June 30, for a bottom-line loss of 8% on sales growth of 151.14%.
Earnings per share were 6¢ behind The Street, where analysts were looking for sales of $16.27 million.
“For the third sequential quarter, we posted significant growth over the same period from the previous year. The second quarter results further validated that NOP is a critical catalyst that will fuel our expected growth for the foreseeable future,” President and CEO Waleed Hassanein said in a news release.
“We are still very early on our growth trajectory, and we fully expect to continue to build on our momentum. We look forward to further broadening our NOP infrastructure and resources with the goal to maximize our coverage capacity and drive significant growth in transplant procedures in the US and around the world over the next several years.”
TransMedics upped its financial outlook for fiscal 2022 to have net revenue in the range of $67 million to $75 million to represent 121% to 148% growth year-over-year.
Shares in TMDX were down 7.05% to $38.65 apiece in pre-market trading.
