$TMDX
TransMedics Group, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023038605 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $66.43M $52.47M
YoY Change 158.65% 155.66%
Cost Of Revenue $25.77M $15.72M
YoY Change 240.49% 154.8%
Gross Profit $40.66M $36.74M
YoY Change 124.47% 156.03%
Gross Profit Margin 61.21% 70.03%
Selling, General & Admin $30.65M $29.36M
YoY Change 81.91% 68.9%
% of Gross Profit 75.38% 79.9%
Research & Development $11.13M $8.291M
YoY Change 63.51% 23.49%
% of Gross Profit 27.38% 22.57%
Depreciation & Amortization $1.890M $1.392M
YoY Change 112.12% 75.09%
% of Gross Profit 4.65% 3.79%
Operating Expenses $69.00M $37.65M
YoY Change 191.63% 56.24%
Operating Profit -$28.34M -$906.0K
YoY Change 411.09% -90.7%
Interest Expense $3.590M $2.505M
YoY Change 356.16% 157.72%
% of Operating Profit
Other Income/Expense, Net $1.406M -$74.00K
YoY Change -175.47% -95.79%
Pretax Income -$26.93M -$980.0K
YoY Change 263.56% -91.48%
Income Tax -$1.510M $21.00K
% Of Pretax Income
Net Earnings -$25.42M -$1.001M
YoY Change 242.34% -91.31%
Net Earnings / Revenue -38.27% -1.91%
Basic Earnings Per Share -$0.78 -$0.03
Diluted Earnings Per Share -$0.78 -$0.03
COMMON SHARES
Basic Shares Outstanding 32.63M 32.55M
Diluted Shares Outstanding 32.61M 32.55M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $427.1M $582.2M
YoY Change 108.89% 902.38%
Cash & Equivalents $427.1M $582.2M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $9.600M $2.376M
YoY Change 74.1% -63.91%
Inventory $39.37M $30.55M
Prepaid Expenses
Receivables $60.65M $47.52M
Other Receivables $0.00 $0.00
Total Short-Term Assets $536.7M $662.7M
YoY Change 114.19% 596.7%
LONG-TERM ASSETS
Property, Plant & Equipment $131.0M $19.97M
YoY Change 609.2% 23.42%
Goodwill $11.67M
YoY Change
Intangibles $2.405M
YoY Change
Long-Term Investments
YoY Change
Other Assets $60.00K $59.00K
YoY Change -88.0% -88.2%
Total Long-Term Assets $152.5M $27.70M
YoY Change 527.92% 24.95%
TOTAL ASSETS
Total Short-Term Assets $536.7M $662.7M
Total Long-Term Assets $152.5M $27.70M
Total Assets $689.2M $690.4M
YoY Change 150.74% 488.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.84M $7.031M
YoY Change 316.75% 23.11%
Accrued Expenses $33.60M $24.74M
YoY Change 93.29% 47.34%
Deferred Revenue $2.629M $244.0K
YoY Change 1063.27% 2.52%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $49.10M $32.02M
YoY Change 137.33% 40.79%
LONG-TERM LIABILITIES
Long-Term Debt $505.4M $504.7M
YoY Change 763.34% 1321.6%
Other Long-Term Liabilities $8.200M $8.459M
YoY Change 5.3% 3.79%
Total Long-Term Liabilities $513.6M $513.1M
YoY Change 777.35% 1345.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.10M $32.02M
Total Long-Term Liabilities $513.6M $513.1M
Total Liabilities $562.8M $545.1M
YoY Change 546.74% 721.42%
SHAREHOLDERS EQUITY
Retained Earnings -$507.7M -$482.3M
YoY Change 7.56% 3.83%
Common Stock $634.5M $627.7M
YoY Change -3.88% 21.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $126.5M $145.2M
YoY Change
Total Liabilities & Shareholders Equity $689.2M $690.4M
YoY Change 150.74% 488.62%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$25.42M -$1.001M
YoY Change 242.34% -91.31%
Depreciation, Depletion And Amortization $1.890M $1.392M
YoY Change 112.12% 75.09%
Cash From Operating Activities -$6.870M -$5.803M
YoY Change -51.9% -36.19%
INVESTING ACTIVITIES
Capital Expenditures $107.7M $1.380M
YoY Change -3776.45% -132.39%
Acquisitions
YoY Change
Other Investing Activities -$42.11M $0.00
YoY Change -252.14% -100.0%
Cash From Investing Activities -$149.8M -$1.380M
YoY Change -705.42% -106.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.520M 394.0M
YoY Change -99.07% 166150.21%
NET CHANGE
Cash From Operating Activities -6.870M -5.803M
Cash From Investing Activities -149.8M -1.380M
Cash From Financing Activities 1.520M 394.0M
Net Change In Cash -155.2M 386.8M
YoY Change -188.83% 2839.88%
FREE CASH FLOW
Cash From Operating Activities -$6.870M -$5.803M
Capital Expenditures $107.7M $1.380M
Free Cash Flow -$114.6M -$7.183M
YoY Change 909.43% 48.59%

Facts In Submission

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AdjustmentsToCommonStockShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
2316000
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-30000
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
9000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-11523000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
50919000
us-gaap Profit Loss
ProfitLoss
-3637000
us-gaap Profit Loss
ProfitLoss
-22085000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2679000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1302000
us-gaap Share Based Compensation
ShareBasedCompensation
8879000
us-gaap Share Based Compensation
ShareBasedCompensation
4626000
tmdx Non Cash Interest And End Of Term Accretion Expense
NonCashInterestAndEndOfTermAccretionExpense
593000
tmdx Non Cash Interest And End Of Term Accretion Expense
NonCashInterestAndEndOfTermAccretionExpense
278000
tmdx Non Cash Lease Expense
NonCashLeaseExpense
423000
tmdx Non Cash Lease Expense
NonCashLeaseExpense
352000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
369000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
150000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-1034000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19862000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7131000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10977000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4153000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-515000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1153000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
54000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3673000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1615000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
4196000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-242000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-742000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
918000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14464000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-27500000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2307000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6213000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
9508000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
48250000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2307000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
32529000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
14620000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
445380000
us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
52072000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4279000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
439000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
384000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
203000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
397971000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
642000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-865000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
381278000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4806000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
201682000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26080000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
582960000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30886000
tmdx Inventory Transfer To Property Plant And Equipment
InventoryTransferToPropertyPlantAndEquipment
1091000
tmdx Inventory Transfer To Property Plant And Equipment
InventoryTransferToPropertyPlantAndEquipment
1350000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
71000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1327000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2222000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
582210000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30386000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
750000
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
500000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
582960000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30886000
us-gaap Net Income Loss
NetIncomeLoss
-3600000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-36200000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-482300000
CY2023Q2 us-gaap Cash
Cash
582200000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these unaudited consolidated financial statements include, but are not limited to, revenue recognition, the valuation of inventory and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. As of the date of issuance of these unaudited consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities.</span><span style="background-color:rgba(0,0,0,0);color:rgba(33,37,41,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Actual results may differ from those estimates or assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Risk of Concentrations of Credit, Significant Customers and Significant Suppliers</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. As of June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> and December 31, 2022, the Company had </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> allowance for credit losses.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Significant customers are those that accounted for </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% or more of the Company’s revenue or accounts receivable. For the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three and six months ended June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, no customer accounted for more than </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of revenue. For the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three and six months ended June 30, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, one customer accounted for </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">17</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of revenue. As of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> one customer accounted for </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">11</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of accounts receivable. As of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, no customer accounted for more than </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of accounts receivable.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain of the components and subassemblies included in the Company’s products are obtained from a sole source, a single source or a limited group of suppliers, as are sterilization services. Although the Company seeks to reduce dependence on those limited sources of suppliers, manufacturers and service providers, the partial or complete loss of certain of these sources could have a material adverse effect on the Company’s operating results, financial condition and cash flows and damage its customer relationships.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8376684
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3581302
CY2023Q2 us-gaap Marketable Securities
MarketableSecurities
0
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
0
CY2023Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2023Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2023Q2 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
445800000
CY2023Q2 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
528300000
CY2023Q2 us-gaap Revenues
Revenues
52465000
CY2022Q2 us-gaap Revenues
Revenues
20521000
us-gaap Revenues
Revenues
94019000
CY2023Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
15099000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
10939000
CY2023Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2881000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1876000
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
12565000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7790000
CY2023Q2 us-gaap Inventory Net
InventoryNet
30545000
CY2022Q4 us-gaap Inventory Net
InventoryNet
20605000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10611000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9812000
CY2023Q2 tmdx Accrued Logistics Costs
AccruedLogisticsCosts
5075000
CY2022Q4 tmdx Accrued Logistics Costs
AccruedLogisticsCosts
2581000
CY2023Q2 tmdx Accrued Research Development And Clinical Trials Expenses Current
AccruedResearchDevelopmentAndClinicalTrialsExpensesCurrent
1322000
CY2022Q4 tmdx Accrued Research Development And Clinical Trials Expenses Current
AccruedResearchDevelopmentAndClinicalTrialsExpensesCurrent
1876000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1363000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
965000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4491000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3401000
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
22862000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
18635000
CY2023Q2 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
445761000
CY2023Q2 us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
semiannually
CY2023Q2 us-gaap Debt Instrument Date Of First Required Payment1
DebtInstrumentDateOfFirstRequiredPayment1
2023-12-01
us-gaap Revenues
Revenues
36401000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4958000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2316000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8879000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4626000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
47300000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2023Q2 tmdx Operating Lease Modification Additional Amount Due Over Remaining Lease Term
OperatingLeaseModificationAdditionalAmountDueOverRemainingLeaseTerm
2600000
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2023Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
400000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
700000
CY2021Q1 us-gaap Recorded Unconditional Purchase Obligation
RecordedUnconditionalPurchaseObligation
9500000
CY2021Q1 tmdx Recorded Unconditional Purchase Commitment Maturity Year And Month
RecordedUnconditionalPurchaseCommitmentMaturityYearAndMonth
2029-12
CY2023Q2 tmdx Unconditional Purchase Obligation Remaining Amount
UnconditionalPurchaseObligationRemainingAmount
7000000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q2 us-gaap Noncurrent Assets
NoncurrentAssets
19965000
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
19223000
CY2023Q2 tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
300000
CY2022Q2 tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
200000
tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
400000
tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
500000
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0000950170-23-038605-index-headers.html Edgar Link pending
0000950170-23-038605-index.html Edgar Link pending
0000950170-23-038605.txt Edgar Link pending
0000950170-23-038605-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
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R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tmdx-20230630.htm Edgar Link pending
tmdx-20230630.xsd Edgar Link pending
tmdx-ex31_1.htm Edgar Link pending
tmdx-ex31_2.htm Edgar Link pending
tmdx-ex32_1.htm Edgar Link pending
tmdx-ex32_2.htm Edgar Link pending
tmdx-20230630_lab.xml Edgar Link unprocessable
tmdx-20230630_pre.xml Edgar Link unprocessable
tmdx-20230630_htm.xml Edgar Link completed
tmdx-20230630_cal.xml Edgar Link unprocessable
tmdx-20230630_def.xml Edgar Link unprocessable