Liver Revenue was TransMedics’s largest product and service line in fiscal 2025, bringing in $460.53M of $591.33M (78%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Liver Revenue | $46.26M | $151.82M | $309.62M | $460.53M | ||
| Heart Revenue | $29.90M | $59.08M | $96.66M | $111.84M | ||
| Product | — | — | — | — | ||
| Lung Revenue | $8.85M | $11.82M | $17.68M | $14.86M | ||
| Service Unrelated To Ocs Transplant | — | $4.90M | $4.40M | $4.10M | ||
| Service Revenue | — | — | — | — | ||
| Total | $85.01M | $227.62M | $428.36M | $591.33M |
TransMedics brought in $591.33M from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 38.0% from $428.36M in fiscal 2024. Liver Revenue was the largest at $460.53M (77.9%), ahead of Heart Revenue at $111.84M (18.9%) and Lung Revenue at $14.86M (2.5%). The remaining line, Service Unrelated To Ocs Transplant, brought in $4.10M.
Compared with fiscal 2024, Liver Revenue grew fastest, up 48.7% to $460.53M, while Lung Revenue fell the most, down 15.9% to $14.86M.
TransMedics began breaking out Service Unrelated To Ocs Transplant in fiscal 2023, when it brought in $4.90M.
United States was TransMedics’s largest region in fiscal 2025, bringing in $571.25M of $602.12M (95%).
| Geography | FY 2018 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| United States | $76.07M | $210.80M | $406.13M | $571.25M | |||
| All Other Countries | $9.33M | $29.40M | $15.44M | $30.87M | |||
| Outside The U.S | — | — | — | — | |||
| Germany | — | — | — | — | |||
| Total | $85.40M | $240.20M | $421.57M | $602.12M |
TransMedics brought in $602.12M from its two regions in fiscal 2025, the year ended December 31, 2025. That was up 42.8% from $421.57M in fiscal 2024. United States was the largest at $571.25M (94.9%), ahead of All Other Countries at $30.87M (5.1%).
Compared with fiscal 2024, All Other Countries grew 99.9% to $30.87M and United States grew 40.7% to $571.25M. From fiscal 2022 to 2025, combined revenue from these regions grew from $85.40M to $602.12M, a compound annual growth rate of 91.8%. United States' share of the total rose from 89.1% to 94.9%.
TransMedics (TMDX) reports its revenue by product and service and by geography. In fiscal 2025, Liver Revenue was its largest product and service line, bringing in $460.53M (77.9% of the total), followed by Heart Revenue at $111.84M (18.9%).
Liver Revenue was TransMedics' largest product and service line in fiscal 2025, bringing in $460.53M, or 77.9% of the $591.33M total across its four product and service lines.
United States was TransMedics' largest region in fiscal 2025, bringing in $571.25M, or 94.9% of the $602.12M total across its two regions.
Among TransMedics' product and service lines that make up at least 2% of revenue, Liver Revenue grew fastest in fiscal 2025, up 48.7% from $309.62M to $460.53M.
Every figure comes from TransMedics' annual financial filings, as reported. Each line keeps the name TransMedics gives it, and years follow its fiscal calendar.
TransMedics' revenue by product and service goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.