$TMDX
TransMedics Group, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023061218 Filed on November 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $81.17M $66.43M
YoY Change 158.72% 158.65%
Cost Of Revenue $33.25M $25.77M
YoY Change 211.56% 240.49%
Gross Profit $47.92M $40.66M
YoY Change 131.48% 124.47%
Gross Profit Margin 59.04% 61.21%
Selling, General & Admin $34.56M $30.65M
YoY Change 59.07% 81.91%
% of Gross Profit 72.11% 75.38%
Research & Development $10.76M $11.13M
YoY Change 86.95% 63.51%
% of Gross Profit 22.45% 27.38%
Depreciation & Amortization $3.605M $1.890M
YoY Change 180.54% 112.12%
% of Gross Profit 7.52% 4.65%
Operating Expenses $45.32M $69.00M
YoY Change 64.91% 191.63%
Operating Profit $2.603M -$28.34M
YoY Change -138.4% 411.09%
Interest Expense $1.260M $3.590M
YoY Change 1515.38% 356.16%
% of Operating Profit 48.41%
Other Income/Expense, Net $1.406M
YoY Change -175.47%
Pretax Income $3.863M -$26.93M
YoY Change -157.65% 263.56%
Income Tax -$168.0K -$1.510M
% Of Pretax Income -4.35%
Net Earnings $4.031M -$25.42M
YoY Change -159.99% 242.34%
Net Earnings / Revenue 4.97% -38.27%
Basic Earnings Per Share -$0.78
Diluted Earnings Per Share $0.12 -$0.78
COMMON SHARES
Basic Shares Outstanding 32.65M 32.63M
Diluted Shares Outstanding 32.61M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $394.8M $427.1M
YoY Change 96.23% 108.89%
Cash & Equivalents $394.8M $427.1M
Short-Term Investments $0.00
Other Short-Term Assets $8.031M $9.600M
YoY Change 177.31% 74.1%
Inventory $44.24M $39.37M
Prepaid Expenses
Receivables $63.58M $60.65M
Other Receivables $0.00 $0.00
Total Short-Term Assets $510.7M $536.7M
YoY Change 102.4% 114.19%
LONG-TERM ASSETS
Property, Plant & Equipment $173.9M $131.0M
YoY Change 804.86% 609.2%
Goodwill $11.99M $11.67M
YoY Change
Intangibles $2.354M $2.405M
YoY Change
Long-Term Investments
YoY Change
Other Assets $62.00K $60.00K
YoY Change -87.6% -88.0%
Total Long-Term Assets $195.4M $152.5M
YoY Change 686.19% 527.92%
TOTAL ASSETS
Total Short-Term Assets $510.7M $536.7M
Total Long-Term Assets $195.4M $152.5M
Total Assets $706.0M $689.2M
YoY Change 154.76% 150.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.72M $12.84M
YoY Change 280.63% 316.75%
Accrued Expenses $40.26M $33.60M
YoY Change 100.49% 93.29%
Deferred Revenue $1.961M $2.629M
YoY Change 713.69% 1063.27%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $54.93M $49.10M
YoY Change 132.17% 137.33%
LONG-TERM LIABILITIES
Long-Term Debt $506.2M $505.4M
YoY Change 762.42% 763.34%
Other Long-Term Liabilities $7.707M $8.200M
YoY Change 3.94% 5.3%
Total Long-Term Liabilities $513.9M $513.6M
YoY Change 775.55% 777.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.93M $49.10M
Total Long-Term Liabilities $513.9M $513.6M
Total Liabilities $568.8M $562.8M
YoY Change 533.66% 546.74%
SHAREHOLDERS EQUITY
Retained Earnings -$503.7M -$507.7M
YoY Change 5.22% 7.56%
Common Stock $641.1M $634.5M
YoY Change -3.78% -3.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $137.2M $126.5M
YoY Change
Total Liabilities & Shareholders Equity $706.0M $689.2M
YoY Change 154.76% 150.74%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $4.031M -$25.42M
YoY Change -159.99% 242.34%
Depreciation, Depletion And Amortization $3.605M $1.890M
YoY Change 180.54% 112.12%
Cash From Operating Activities $8.304M -$6.870M
YoY Change -305.8% -51.9%
INVESTING ACTIVITIES
Capital Expenditures $41.82M $107.7M
YoY Change 1412.95% -3776.45%
Acquisitions
YoY Change
Other Investing Activities $4.000K -$42.11M
YoY Change -252.14%
Cash From Investing Activities -$41.82M -$149.8M
YoY Change 1412.95% -705.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 924.0K 1.520M
YoY Change -69.85% -99.07%
NET CHANGE
Cash From Operating Activities 8.304M -6.870M
Cash From Investing Activities -41.82M -149.8M
Cash From Financing Activities 924.0K 1.520M
Net Change In Cash -32.59M -155.2M
YoY Change 772.79% -188.83%
FREE CASH FLOW
Cash From Operating Activities $8.304M -$6.870M
Capital Expenditures $41.82M $107.7M
Free Cash Flow -$33.51M -$114.6M
YoY Change 392.93% 909.43%

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CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2022Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2022Q2 tmdx Adjustments To Common Stock Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToCommonStockShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
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CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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9000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q3 tmdx Discounts And Issuance Costs
DiscountsAndIssuanceCosts
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CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
139854000
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1441000
CY2022Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2022Q3 tmdx Adjustments To Common Stock Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToCommonStockShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
2704000
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-41000
CY2022Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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100000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4572000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2193000
us-gaap Share Based Compensation
ShareBasedCompensation
14067000
us-gaap Share Based Compensation
ShareBasedCompensation
7330000
tmdx Acquired In Process Research And Development Expenses
AcquiredInProcessResearchAndDevelopmentExpenses
27212000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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GainsLossesOnExtinguishmentOfDebt
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us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
107000
tmdx Non Cash Interest And End Of Term Accretion Expense
NonCashInterestAndEndOfTermAccretionExpense
1358000
tmdx Non Cash Interest And End Of Term Accretion Expense
NonCashInterestAndEndOfTermAccretionExpense
309000
tmdx Non Cash Lease Expense
NonCashLeaseExpense
728000
tmdx Non Cash Lease Expense
NonCashLeaseExpense
532000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
381000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-118000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-1733000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
30997000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16287000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
21029000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6094000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2170000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
98000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
54000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6541000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3534000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
9257000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-8000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
765000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1101000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
590000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21332000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41782000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
110029000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9143000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
14894000
us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
27212000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
10496000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
76916000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-152135000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
57277000
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 Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
58509000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
36050000
tmdx Proceeds From Issuance Of Common Stock In Initial Public Offering Net Of Underwriting Discounts And Commissions
ProceedsFromIssuanceOfCommonStockInInitialPublicOfferingNetOfUnderwritingDiscountsAndCommissions
140014000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5231000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1880000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
955000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
509000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
399494000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
164862000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-99000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1475000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
225928000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
178882000
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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
427610000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
204962000
tmdx Inventory Transfer To Property Plant And Equipment
InventoryTransferToPropertyPlantAndEquipment
2224000
tmdx Inventory Transfer To Property Plant And Equipment
InventoryTransferToPropertyPlantAndEquipment
2055000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1724000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
926000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2171000
CY2022Q3 tmdx Offering Cost Included In Accounts Payable And Accrued Expenses
OfferingCostIncludedInAccountsPayableAndAccruedExpenses
160000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
427110000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
204462000
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
500000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
500000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
427610000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
204962000
us-gaap Net Income Loss
NetIncomeLoss
-29100000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-36200000
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-507700000
CY2023Q3 us-gaap Cash
Cash
427100000
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
0
CY2023Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.533%;text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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, the valuation of assets acquired and liabilities assumed in business combinations, including acquired intangible assets and the resulting goodwill, 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="color:#212529;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Actual results may differ from those estimates or assumptions.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-left:4.533%;text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Risk of Concentrations of Credit, Significant Customers and Significant Suppliers</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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 September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and December 31, 2022, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> allowance for credit losses.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Significant customers are those that accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% or more of the Company’s revenue or accounts receivable. For the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three and nine months ended September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, no customer accounted for more than </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of revenue. For the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three months ended September 30, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, one customer accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">13</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of revenue. For the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">nine months ended September 30, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, one customer accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">15</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of revenue. As of </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> one customer accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">13</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of accounts receivable. As of </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">December 31, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, no customer accounted for more than </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of accounts receivable.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8410352
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3407199
CY2023Q3 us-gaap Marketable Securities
MarketableSecurities
0
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19223000
CY2023Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2023Q3 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
446400000
CY2023Q3 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
426200000
CY2023Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
18856000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
10939000
CY2023Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3051000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1876000
CY2023Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
17458000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7790000
CY2023Q3 us-gaap Inventory Net
InventoryNet
39365000
CY2022Q4 us-gaap Inventory Net
InventoryNet
20605000
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
148660000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32352000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17656000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13129000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
131004000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2430000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
25000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2405000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
49000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
203000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
203000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
203000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
203000
CY2023Q3 tmdx Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
1544000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2405000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15934000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9812000
CY2023Q3 tmdx Accrued Transportation Costs
AccruedTransportationCosts
4375000
CY2022Q4 tmdx Accrued Transportation Costs
AccruedTransportationCosts
2581000
CY2023Q3 tmdx Accrued Research Development And Clinical Trials Expenses Current
AccruedResearchDevelopmentAndClinicalTrialsExpensesCurrent
1261000
CY2022Q4 tmdx Accrued Research Development And Clinical Trials Expenses Current
AccruedResearchDevelopmentAndClinicalTrialsExpensesCurrent
1876000
CY2023Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2073000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
965000
CY2023Q3 us-gaap Interest Payable Current
InterestPayableCurrent
2683000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5325000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3401000
CY2023Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
31651000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
18635000
CY2023Q3 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
446448000
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
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5188000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2704000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14067000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7330000
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
46200000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
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
CY2023Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1000000
CY2021Q1 us-gaap Recorded Unconditional Purchase Obligation
RecordedUnconditionalPurchaseObligation
9500000
CY2021Q1 tmdx Recorded Unconditional Purchase Commitment Maturity Year And Month
RecordedUnconditionalPurchaseCommitmentMaturityYearAndMonth
2029-12
CY2023Q3 tmdx Unconditional Purchase Obligation Remaining Amount
UnconditionalPurchaseObligationRemainingAmount
7000000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q3 us-gaap Noncurrent Assets
NoncurrentAssets
131004000
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
19223000
CY2023Q3 tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
400000
CY2022Q3 tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
500000
tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
800000
tmdx Customer Payments Recorded As Operating Expenses
CustomerPaymentsRecordedAsOperatingExpenses
1000000
CY2023Q3 tmdx Payment To Customers Related To Use Of Aircraft
PaymentToCustomersRelatedToUseOfAircraft
700000
tmdx Payment To Customers Related To Use Of Aircraft
PaymentToCustomersRelatedToUseOfAircraft
700000

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
tmdx-20230930_cal.xml Edgar Link unprocessable
tmdx-20230930_pre.xml Edgar Link unprocessable
0000950170-23-061218-index-headers.html Edgar Link pending
0000950170-23-061218-index.html Edgar Link pending
0000950170-23-061218.txt Edgar Link pending
0000950170-23-061218-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
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tmdx-20230930.htm Edgar Link pending
tmdx-20230930.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
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tmdx-20230930_def.xml Edgar Link unprocessable
tmdx-20230930_lab.xml Edgar Link unprocessable
tmdx-20230930_htm.xml Edgar Link completed