What is TransMedics Group, Inc.'s R&D?

TransMedics Group, Inc. (TMDX) reported R&D of $24.88M in Q1 2026.

How has TransMedics Group, Inc.'s R&D changed year-over-year?

TransMedics Group, Inc.'s R&D increased by 45.0% year-over-year, from $17.16M to $24.88M.

What is the long-term trend for TransMedics Group, Inc.'s R&D?

Over 4 years (2021 to 2025), TransMedics Group, Inc.'s R&D has grown at a 32.6% compound annual growth rate (CAGR), from $22.3M to $69.06M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

TransMedics Group, Inc. TMDX R&D

R&D at other companies

LivaNovaLIVN

$58.7M+55.0%

ICU MedicalICUI

$21.28M-8.6%

Edwards LifesciencesEW

$263.3M+3.4%

United TherapeuticsUTHR

$138.2M-7.2%

OSI SystemsOSIS

$19.46M+4.8%

Other financials

Income statement

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Revenue$173.9M+21.2%

Gross profit$101.2M+14.7%

Operating income$13.3M-51.5%

Net income$7.3M-71.5%

EPS (diluted)$0.20-71.4%

Balance sheet

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Cash & equivalents$461.7M+48.9%

Total debt$409.9M+505%

Total equity$494.0M+85.5%

Total assets$1.4B+71.3%

Cash flow

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Operating cash flow$24.5M+959%

CapEx$36.7M+35.6%

Free cash flow-$12.1M+59.4%

Valuation

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Market cap$2.55B+50.6%

Enterprise value$2.5B+66.0%

P/E14.8×-19.8×

P/S4×+0.5×

Profitability

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Gross margin59.1%-0.4pp

Operating margin14.9%+4.1pp

Net margin27%+17.0pp

FCF margin23.8%—

Returns & leverage

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Return on equity45.2%+22.2pp

Debt / equity0.8×+0.6×

Current ratio6.7×-2.4×

Where this comes from

Reported directly by TransMedics Group, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: TransMedics Group, Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is TransMedics Group, Inc.'s R&D?: TransMedics Group, Inc. (TMDX) reported R&D of $24.88M in Q1 2026.
How has TransMedics Group, Inc.'s R&D changed year-over-year?: TransMedics Group, Inc.'s R&D increased by 45.0% year-over-year, from $17.16M to $24.88M.
What is the long-term trend for TransMedics Group, Inc.'s R&D?: Over 4 years (2021 to 2025), TransMedics Group, Inc.'s R&D has grown at a 32.6% compound annual growth rate (CAGR), from $22.3M to $69.06M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.