TransMedics Group, Inc.

NasdaqGM-TMDX

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	91.8	71.7	48.9	35.5	32.6	3
Net Income
Depreciation & Amortization	25.4	23.7	21.6	19.8	17.7	14.4
Depreciation and Amortization Expense
Stock Based Compensation	38.2	37	35.3	33.2	28.2	25.4
Stock-Based Compensation Expense
Other Adjustments	4.6	4.2	4.7	5.4	3.8	4.4
Change in Fair Value of Preferred Stock Warrant Liability
Acquired in-Process Research and Development Expenses
Deferred Taxes
Loss on Extinguishment of Debt
Loss on Sale of Marketable Securities
Non-Cash Interest Expense and End of Term Accretion Expense
Non-Cash Lease Expense
Net Amortization of Premiums on Marketable Securities
Unrealized Foreign Currency Transaction Gains
Income on Disposal of Fixed Assets
Changes in Trade Receivables	9.7	-23.3	-60	-34.3	-29.3	-31.6
Accounts Receivable
Changes in Inventories	3	5.3	-0.7	-8.4	-19.6	-25
Inventory
Changes in Accounts Payable	-1.1	-3.6	1.4	-1.4	2.2	5.1
Accounts Payable
Changes in Accrued Expenses	13.1	4.9	3.3	7.9	10.6	10.7
Accrued Expenses and Other Current Liabilities
Changes in Unearned Revenue	1.1	0.1	0	-0.2	-0.5	-0.4
Deferred Revenue
Changes in Other Operating Activities	-7.8	-4.7	-5.3	-8.7	-8.1	-7.7
Prepaid Expenses and Other Current Assets
Other Non-Current Assets
Operating Lease Liabilities
Change in Deferred Rent
Cash from Operating Activities	178	115.3	49.4	48.8	37.4	23.7
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-57.3	-97.9	-112.6	-129.7	-158	-217.5
Purchases of Property, Plant and Equipment
Purchases of Intangible Assets	—	—	—	0.4	—	—
Purchase of in-Process Research and Development Assets
Purchases of Investments	—	—	—	—	—	—
Purchases of Marketable Securities
Proceeds from Sale of Investments	—	—	—	—	—	—
Proceeds from Sales and Maturities of Marketable Securities
Payments for Business Acquisitions	—	—	—	—	—	—
Purchase of Business, Net of Cash Acquired
Cash from Investing Activities	-57.3	-97.5	-112.2	-129.3	-157.5	-259.6
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Long-Term Debt	—	—	—	—	—	—
Proceeds from Issuance of Convertible Senior Notes, Net of Issuance Costs Paid
Proceeds from Issuance of Long-Term Debt, Net of Issuance Costs
Proceeds from Paycheck Protection Program Loan
Repayments of Long-Term Debt	—	—	—	—	—	—
Repayments of Long-Term Debt
Repayment of Paycheck Protection Program Loan
Net Issuance / (Repayments) of Long-Term Debt	—	—	—	—	—	—
Issuance of Common Shares	16.4	20.5	23.7	22.9	23.2	16.9
Proceeds from Issuance of Common Stock in Public Offering, Net of Underwriting Discounts and Commissions and Issuance Costs Paid
Proceeds from Issuance of Common Stock Upon Exercise of Stock Options
Proceeds from Issuance of Common Stock Upon Exercise of Warrants
Proceeds from Issuance of Common Stock in Connection with Employee Stock Purchase Plan
Net Issuance / (Repurchases) of Common Shares	16.4	20.5	23.7	22.9	23.2	16.9
Other Financing Activities	—	—	—	—	—	—
Purchases of Capped Calls Related to Convertible Senior Notes
Payments of Public Offering Costs and Other Financing Costs
Cash from Financing Activities	14.9	19.2	22.7	22.9	22.6	16.3
Net Cash Provided by Financing Activities