TransMedics Group (NASDAQ: TMDX) reported Q2 EPS of ($0.19), $0.13 better than the analyst estimate of ($0.32). Revenue for the quarter came in at $7.1 million versus the consensus estimate of $5.55 million.

Recent Highlights

• Net revenue of $7.1 million in the third quarter of 2020, representing a 2% decrease compared to the third quarter of 2019
• Completed enrollment in OCS Heart DCD U.S. clinical program
• Received FDA approval for OCS Heart DCD continued access protocol

"Our sequential growth in the third quarter was driven by the ongoing recovery in transplant activities in the United States in addition to the rapid enrollment and completion of our OCS Heart DCD U.S. trial," said Waleed Hassanein, MD, President and Chief Executive Officer. "We are actively engaged with FDA to complete the review of the additional OCS Heart EXPAND CAP data and the rescheduling of our OCS Heart FDA Advisory Committee meeting. We remain confident in our ability to have all three of our OCS products approved and commercially available in the second half of 2021."

2020 Financial Outlook

As previously announced, TransMedics is not providing annual guidance for 2020 due to the unpredictability of the duration and the magnitude of the impact of the COVID-19 pandemic.

For earnings history and earnings-related data on TransMedics Group (TMDX) click here.