TransMedics (NSDQ:TMDX) shares were up more than 27% today after it reported Q4 revenues that beat Wall Street expectations by more than $2 million.
Regulatory wins enabled the Andover, Massachusetts–based organ preservation tech company to bring in $9.7 million during the quarter ended Dec. 31, 2021, representing 26.8% sales growth from Q4 2020. Analysts were only looking for sales of $7.5 million.
TransMedics posted Q4 losses of $12.7 million, or 46¢ per share, about doubling its losses from the same period last year. The losses came in 3¢ behind The Street.
“2021 was a great year for TransMedics as we delivered on each key regulatory milestone we had hoped to achieve in 2021 and our goal of having the OCS platform commercially available in the U.S. across lung, heart and liver transplant markets by year-end,” TransMedics President and CEO Dr. Waleed Hassanein said in a news release. “We ended 2021 well-positioned to execute, and we are confident that 2022 will be a transformative year of growth for TransMedics as we expand our National OCS Program to drive clinical adoption across all three transplant markets and capitalize on our unparalleled technology.”
TransMedics expect full-year 2022 revenues to fall in a range between $49 million and $55 million, representing growth of 62% to 82% year-over-year.
TMDX shares were up more than 27% at $16.01 per share near the end of trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up slightly.