0001193125-26-332843 | 10-Q | XBRL Viewer

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Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended			6 Months Ended	12 Months Ended
	May 20, 2026	Nov. 02, 2023	Apr. 15, 2019	Jun. 30, 2026	Mar. 31, 2026	Mar. 31, 2025	Jun. 30, 2026	Dec. 31, 2023	Aug. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost related to unvested employee and director stock-based awards				$ 54.4			$ 54.4
Weighted average period for unrecognized compensation cost							2 years 2 months 12 days
Income tax benefits related to stock-based compensation expense				$ 0.4			$ 4.2
Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued					16,321	24,268
Options granted							77,456
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value							$ 67.42
Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted							71,851
Weighted average grant-date fair value granted							$ 92.29
2019 Stock Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized			3,428,571
Share-based compensation arrangement by sharebased payment award, number of additional shares authorized								1,000,000
Share based compensation arrangement by share based payment award number of shares available for grant				3,177,228			3,177,228
2019 Stock Plan [Member] \| Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation arrangement by sharebased payment award, number of additional shares authorized	2,750,000
2019 Stock Plan [Member] \| From 2014 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized			1,595,189
2019 Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized			371,142
Share based compensation arrangement by share based payment award number of shares available for grant				157,939			157,939
Purchase price of common stock, percent			85.00%
Number of shares issued							16,321
2021 Inducement Plan [Member] \| Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized									1,000,000
Share-based compensation arrangement by sharebased payment award, number of additional shares authorized		500,000
Share based compensation arrangement by share based payment award number of shares available for grant				328,779			328,779

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Pay vs Performance Disclosure
Net Income (Loss)	$ 14,682	$ 7,315	$ 34,907	$ 25,682	$ 21,997	$ 60,589

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated Share-based Compensation Expense	$ 8,606	$ 9,372	$ 18,558	$ 18,330
Cost of revenue [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated Share-based Compensation Expense	383	360	763	660
Research, development and clinical trials expenses [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated Share-based Compensation Expense	1,065	1,189	2,535	2,505
Selling, general and administrative expenses [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated Share-based Compensation Expense	$ 7,158	$ 7,823	$ 15,260	$ 15,165

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

5. Goodwill and Intangible Assets

The carrying amount of goodwill was $11.5 million as of June 30, 2026 and December 31, 2025, and related to the Company’s 2023 acquisition of Summit Aviation, Inc. and Northside Property Group, LLC. Goodwill is not amortized, but instead is reviewed for impairment at least annually or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. To date, the Company has had no impairments to goodwill.

During the first quarter of 2026, the Company updated its estimate of the remaining useful life of acquired intangible assets based on its determination that the remaining economic benefit was substantially realized. This change in estimated useful life resulted in the recognition of $1.9 million of incremental amortization expense within selling, general and administrative expense during the first quarter of 2026. The carrying value of acquired intangible assets was zero as of June 30, 2026.

Acquired intangible assets consisted of the following as of December 31, 2025 (in thousands):


			December 31, 2025
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization		Carrying Value
	(in years)
Customer relationship		12	$	2,320	$	460	$	1,860
Other		12		110		22		88
			$	2,430	$	482	$	1,948

Inventory (Tables)

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Raw materials	$	28,555	$	26,249
Work-in-process		3,292		2,006
Finished goods		22,290		20,626
	$	54,137	$	48,881

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Stockholders' Equity Note [Abstract]

Schedule of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	383	$	360	$	763	$	660
Research, development and clinical trials expenses		1,065		1,189		2,535		2,505
Selling, general and administrative expenses		7,158		7,823		15,260		15,165
	$	8,606	$	9,372	$	18,558	$	18,330

Long-Term Debt and Financing Arrangements - Convertible Senior Notes - Additional Information (Detail)			3 Months Ended		6 Months Ended
	May 11, 2023 USD ($) TradingDays $ / shares shares	May 08, 2023	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Estimated fair value of convertible senior notes			$ 501,400,000		$ 501,400,000
Conversion price per share \| $ / shares	$ 94
Premium percentage over closing price		32.50%
Maturity date of notes	Jun. 01, 2028
Interest expense, debt			$ 2,400,000	$ 2,400,000	$ 4,900,000	$ 4,900,000
Percentage of cash coupon of notes and amortization of the debt issuance costs					1.50%	1.50%
Proceeds from Convertible Debt	$ 393,300,000
Debt instrument, frequency of periodic payment	semiannually
Capped call transaction costs net	$ 52,100,000
Purchase discounts and other debt issuance costs	$ 14,600,000
Debt instrument, interest rate	1.50%
Debt instrument, description					The Notes bear interest at a rate of 1.50% per year and interest is payable semiannually in arrears on June 1 and December 1 of each year.
Conversion of per principal amount of notes	$ 1,000
Interest rate effective percentage			2.10%	2.10%	2.10%	2.10%
Convertible Senior Notes [Member] \| Used To Fund Capped Call Transactions [Member]
Debt Instrument [Line Items]
Proceeds from Convertible Debt	$ 52,100,000
Convertible Senior Notes [Member] \| Per One Thousand Dollars [Member]
Debt Instrument [Line Items]
Initial conversion rate shares of common stock \| shares	10.6388
Convertible Senior Notes [Member] \| Before March 1, 2028 [Member]
Debt Instrument [Line Items]
Conversion of per principal amount of notes	$ 1,000
Debt instrument, redemption period, end date	Mar. 01, 2028
Number of trading days \| TradingDays	5
Number of consecutive trading days \| TradingDays	10
Convertible Senior Notes [Member] \| Calendar Quarter Ending on September 30, 2023 but Before March 1, 2028 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption period, start date	Sep. 30, 2023
Debt instrument, redemption period, end date	Mar. 01, 2028
Number of trading days \| TradingDays	20
Number of consecutive trading days \| TradingDays	30
Conversion price	130.00%
Convertible Senior Notes [Member] \| On or After June 8, 2026 [Member] \| Redeemable Debt [Member]
Debt Instrument [Line Items]
Number of trading days \| TradingDays	20
Number of consecutive trading days \| TradingDays	30
Conversion price	130.00%
Convertible Senior Notes [Member] \| Maximum [Member] \| Before March 1, 2028 [Member]
Debt Instrument [Line Items]
Conversion price	98.00%
Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount			$ 459,996,000		$ 459,996,000		$ 459,996,000
Private Placement [Member] \| Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount	$ 460,000,000

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Allowance for credit losses	$ 0		$ 0		$ 0
Prepaid expenses and other current assets	20,174,000		20,174,000		16,254,000
Other Income (Expense) [Member]
Foreign currency transaction gains (losses)	$ (100,000)	$ 600,000	$ (700,000)	$ 1,000,000
Accounting Standards Update 2025-05 [Member]
Change in accounting principle, accounting standards update, adopted	true		true
Accounting Standards Update [Extensible Enumeration]			Accounting Standards Update 2025-05 [Member]
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2026		Jan. 01, 2026
Convertible Senior Notes Due 2028 [Member]
Debt instrument, interest rate	1.50%		1.50%
Spare Parts Inventory [Member]
Prepaid expenses and other current assets	$ 4,300,000		$ 4,300,000		$ 4,700,000
Customer Concentration Risk [Member] \| Revenue [Member] \| Significant Customer Benchmark [Member] \| Minimum [Member]
Concentration risk percentage	10.00%	10.00%	10.00%	10.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Significant Customer Benchmark [Member] \| Minimum [Member]
Concentration risk percentage			10.00%		10.00%

Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2025	Jun. 30, 2026
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,430,000
Accumulated Amortization	482,000
Carrying Value	$ 1,948,000	$ 0
Customer Relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	12 years
Gross Amount	$ 2,320,000
Accumulated Amortization	460,000
Carrying Value	$ 1,860,000
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	12 years
Gross Amount	$ 110,000
Accumulated Amortization	22,000
Carrying Value	$ 88,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 447,263	$ 393,721
Less: Accumulated depreciation and amortization	(81,961)	(66,065)
Property, plant and equipment, net	365,302	327,656
Transplant Aicraft [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	295,563	295,527
Transplant Aicraft Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,100	3,100
Flight School Aircraft [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,730	3,717
OCS Consoles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	28,706	24,590
Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	14,589	12,101
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,392	3,376
Internal-use Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	16,221	12,413
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,359	3,698
Office, Trade Show and Training Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,400	5,260
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,352
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	25,834	25,113
Construction-In-Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9,755	2,174
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 16,262	$ 2,652

Inventory - Schedule of Inventory, Current (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Inventory Disclosure [Abstract]
Raw materials	$ 28,555	$ 26,249
Work-in-process	3,292	2,006
Finished goods	22,290	20,626
Inventory, net	$ 54,137	$ 48,881

Nature of the Business and Basis of Presentation

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Nature of the Business and Basis of Presentation

1. Nature of the Business and Basis of Presentation

TransMedics Group, Inc. (“TransMedics Group” and, together with its consolidated subsidiaries, the “Company”) was incorporated in the Commonwealth of Massachusetts in October 2018. TransMedics, Inc. (“TransMedics”), an operating company and wholly owned subsidiary of TransMedics Group, was incorporated in the State of Delaware in August 1998. The Company is a medical technology company transforming organ transplant therapy for end-stage organ failure patients across multiple disease states. The Company developed the Organ Care System (“OCS”) to replace a decades-old standard of care. The OCS represents a paradigm shift that transforms organ preservation for transplantation from a static state to a dynamic environment that enables new capabilities, including organ optimization and assessment. The Company’s OCS technology replicates many aspects of the organ’s natural living and functioning environment outside of the human body. The Company also developed its National OCS Program (“NOP”), an innovative turnkey solution to provide outsourced organ procurement, OCS perfusion management and transplant logistics services, to provide transplant programs in the United States with a more efficient process to procure donor organs with the OCS. The Company’s transplant logistics services include aviation transportation, ground transportation and other coordination activity.

The accompanying condensed consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. The Company believes that its existing cash of $472.7 million as of June 30, 2026 will be sufficient to fund its operations, capital expenditures, and debt service payments for at least the next 12 months following the filing of this Quarterly Report on Form 10-Q. If the Company needs to seek additional funding through equity financings, debt financings or strategic alliances, the Company may not be able to obtain financing on acceptable terms, or at all, and the terms of any financing may adversely affect the holdings or the rights of the Company’s shareholders. If the Company is unable to obtain funding when needed, the Company will be required to delay, reduce or eliminate some or all of its research and development programs, product expansion or commercialization efforts, or the Company may be unable to continue operations.

The Company is subject to risks and uncertainties common to companies in the medical device industry and of similar size, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, uncertainty of market acceptance of products, and the need to obtain additional financing to fund operations. Products currently under development will require additional research and development efforts, including additional clinical testing and regulatory approval, prior to commercialization. These efforts require additional capital, adequate personnel, infrastructure and extensive compliance-reporting capabilities. The Company’s research and development may not be successfully completed, adequate protection for the Company’s technology may not be obtained, the Company may not obtain necessary government regulatory approval on its expected timeline, or at all, and approved products may not prove commercially viable. The Company operates in an environment of rapid change in technology and competition. In addition, the Company is subject to risks and uncertainties related to its aviation transportation services, including, but not limited to, compliance with FAA regulations, pilot availability and operational disruptions.

The Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Summary of Future Payments under the Lease

Future payments under the Lease, inclusive of the Company’s assumed exercise of the purchase option, as of June 30, 2026 were as follows (in thousands):


Year Ending December 31,
2026 (six months)	$	—
2027		374,590
2028		—
2029		—
2030		—
Thereafter		—
Total future minimum lease payments		374,590
Less: tenant improvement allowance		(400	)
Less: amount allocated to property purchases		(3,986	)
Less: imputed interest		(22,544	)
Total finance lease liability	$	347,660

Summary of Components Finance Lease Cost

The components of the Company’s finance lease cost under ASC 842 are as follows (in thousands):


	Three months ended June 30, 2026		Six months ended June 30, 2026
Finance lease cost
Amortization of right-of-use assets	$	2,073	$	4,146
Interest on lease liability		3,831		7,620
Total finance lease cost	$	5,904	$	11,766

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Accrued Expenses And Other Current Liabilities [Abstract]
Accrued payroll and related expenses	$ 20,222	$ 28,443
Accrued transportation costs	2,500	2,700
Accrued clinical trials expenses	6,983	5,865
Accrued external research and development expenses	4,697	3,104
Accrued property, plant and equipment	2,365	928
Accrued third-party surgeon costs	4,809	3,996
Accrued professional fees	5,921	3,378
Accrued other	11,101	14,326
Accrued expenses and other liabilities current	$ 58,598	$ 62,740

Long-Term Debt and Financing Arrangements - Long-term Debt - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2022	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 60,000		$ 60,000		$ 60,000
Canadian Imperial Bank of Commerce [Member]
Debt Instrument [Line Items]
Average effective interest rate		6.10%	6.80%	6.10%	6.80%
Interest expense, debt		$ 1,000	$ 1,000	$ 1,900	$ 2,100
Debt instrument, interest rate		6.20%		6.20%
Canadian Imperial Bank of Commerce [Member] \| Credit Agreement [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 60,000
Description of covenants				The financial covenants include, among other covenants, (x) a requirement to maintain a minimum liquidity amount of the greater of either (i) the consolidated adjusted EBITDA loss (or gain), as defined, for the trailing four month period (only if EBITDA is negative) and (ii) $10.0 million, and (y) a requirement to maintain total net revenue of at least 75% of the level set forth in the total revenue plan presented to CIBC.
Minimum liquidity covenant amount		$ 10,000		$ 10,000
Minimum percentage to maintain total net revenue set forth in total revenue plan presented				75.00%
Debt instrument, frequency of periodic payment	monthly
Repayment commencing month and year	2026-07
Debt maturity month and year	2027-07
Canadian Imperial Bank of Commerce [Member] \| Credit Agreement [Member] \| Term Loan [Member] \| In Event Of Default [Member]
Debt Instrument [Line Items]
Increasing applicable margin				2.00%
Canadian Imperial Bank of Commerce [Member] \| Credit Agreement [Member] \| Interest Rate Option Two \| Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	1.00%
Canadian Imperial Bank of Commerce [Member] \| Term Secured Overnight Financing Rate [Member] \| Credit Agreement [Member] \| Interest Rate Option One [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Canadian Imperial Bank of Commerce [Member] \| Term Secured Overnight Financing Rate [Member] \| Minimum [Member] \| Credit Agreement [Member] \| Interest Rate Option One [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	1.50%
Canadian Imperial Bank of Commerce [Member] \| Prime Rate \| Minimum [Member] \| Credit Agreement [Member] \| Interest Rate Option Two \| Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.00%
Canadian Imperial Bank of Commerce [Member] \| Amount Over Federal Funds Effective Rate [Member] \| Minimum [Member] \| Credit Agreement [Member] \| Interest Rate Option Two \| Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%

Long-term Debt and Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Notes

The Notes consisted of the following (in thousands):


	June 30,			December 31,
	2026			2025
Principal amount of convertible senior notes	$	459,996		$	459,996
Less: Current portion of convertible senior notes		—			—
Convertible senior notes, net of current portion		459,996			459,996
Debt discount, net		(5,736	)		(7,192	)
Convertible senior notes, net of discount and current portion	$	454,260		$	452,804

Schedule of Long-Term Debt Instruments

Long-term debt consisted of the following (in thousands):


	June 30,			December 31,
	2026			2025
Principal amount of long-term debt	$	60,000		$	60,000
Less: Current portion of long-term debt		(20,000	)		(10,000	)
Long-term debt, net of current portion		40,000			50,000
Debt discount, net		(257	)		(413	)
Long-term debt, net of discount and current portion	$	39,743		$	49,587

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited interim financial statements and related notes have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2025 included in the Company’s Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s financial position as of June 30, 2026 and results of operations for the three and six months ended June 30, 2026 and 2025 and cash flows for the six months ended June 30, 2026 and 2025 have been made. The Company’s results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2026 or any other period.
Use of Estimates	Use of Estimates 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 condensed 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 goodwill, the valuation of stock-based awards and income taxes. 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 condensed 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. Actual results may differ from those estimates or assumptions.
Risk of Concentrations of Credit, Significant Customers and Significant Suppliers	Risk of Concentrations of Credit, Significant Customers and Significant Suppliers 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, 2026 and December 31, 2025, the Company had no allowance for credit losses. Significant customers are those that accounted for 10% or more of the Company’s revenue or accounts receivable. For the three and six months ended June 30, 2026 and 2025, no customer accounted for more than 10% of revenue. As of June 30, 2026 and December 31, 2025, no customer accounted for more than 10% of accounts receivable. 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.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The carrying values of the Company’s accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities. The carrying value of the Company’s long-term debt approximates its fair value (a Level 2 measurement) at each balance sheet date due to its variable interest rate, which approximates a market interest rate. The Company’s 1.50% convertible senior notes due 2028 (the “Notes”) are carried at the face value less unamortized debt discount and issuance costs on the accompanying condensed consolidated balance sheets, and the fair value of the Notes is presented at each reporting period for disclosure purposes only (see Note 7).
Spare Parts Inventory	Spare Parts Inventory Spare parts are used in aviation operations and are generally not for sale. Spare parts inventory is comprised of repairable and expendable spare aircraft parts, which are valued at the lower of cost or net realizable value, using the specific identification method. Storage costs and miscellaneous materials and supplies costs related to inventory or to support flight equipment are expensed as incurred. As of June 30, 2026 and December 31, 2025, spare parts inventory of $4.3 million and $4.7 million, respectively, is included within prepaid expenses and other current assets on the accompanying condensed consolidated balance sheets. The Company determines, based on the evidence that exists, whether or not it is appropriate to maintain a reserve for excess and obsolete spare parts inventory. The reserve is based on historical experience related to the disposal of inventory due to damage, physical deterioration, obsolescence, or other causes. As of June 30, 2026 and December 31, 2025, the Company had no allowance for spare parts excess and obsolescence.
Foreign Currency Translation	Foreign Currency Translation The functional currency of each of the Company’s foreign subsidiaries is the currency of the local country. Assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars using the period-end exchange rates, and income and expense items are translated into U.S. dollars using average exchange rates in effect during each period. The effects of these foreign currency translation adjustments are included in accumulated other comprehensive income (loss), a separate component of stockholders’ equity. The Company also incurs transaction gains and losses resulting from intercompany transactions as well as transactions with customers or vendors denominated in currencies other than the functional currency of the legal entity in which the transaction is recorded. Realized and unrealized foreign currency transaction gains (losses) are included in the condensed consolidated statements of operations as a component of other income (expense). Realized and unrealized losses totaled $0.1 million and $0.7 million for the three and six months ended June 30, 2026, respectively, and realized and unrealized gains totaled $0.6 million and $1.0 million for the three and six months ended June 30, 2025, respectively.
Recently Issued and Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326) to introduce a practical expedient to calculating current expected credit loss by assuming that the current conditions as of the balance sheet date will not change for the remaining life of the asset. This expedient can only be applied to current accounts receivable and current contract assets. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025 and interim periods within those annual periods, and this update is applied prospectively. The Company adopted this standard effective January 1, 2026 and applied the practical expedient to assets within its scope. The adoption did not have a material impact on the consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. ASU 2024-03 allows for adoption using either a prospective or retrospective method. The Company is currently assessing the impact of the adoption of this guidance on its consolidated financial statements. In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes all references to software development project stages and requires entities to start capitalizing software costs when both of the following occur: (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, with early adoption permitted as of the beginning of a fiscal year. The amendments can be applied prospectively, retrospectively, or via a modified prospective transition method. The Company is currently assessing the impact of the adoption of this guidance on its consolidated financial statements. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. ASU 2025-10 establishes authoritative guidance for accounting for government grants received by business entities, clarifies the appropriate accounting, in an effort to reduce diversity in practice, and increase consistency of application across business entities. ASU 2025-10 is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods. Adoption of this guidance can be applied via a modified prospective approach, a modified retrospective approach, or a retrospective approach. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this guidance on its consolidated financial statements.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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+ Details

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2026	Jun. 30, 2026	Dec. 31, 2025
Goodwill [Line Items]
Carrying amount of goodwill		$ 11,549,000	$ 11,549,000
Impairments to goodwill		0
Carrying value of acquired intangible assets		0	1,948,000
Change in Estimated Useful Life [Member] \| Selling, General and Administrative Expenses [Member]
Goodwill [Line Items]
Incremental amortization expense of intangible assets	$ 1,900,000
Summit [Member]
Goodwill [Line Items]
Carrying amount of goodwill		$ 11,500,000	$ 11,500,000

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Net Income per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	758,567	627,591	5,346,225	867,165
Convertible senior notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	0	0	4,893,805	0
Options to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	693,183	609,891	413,619	754,178
Employee stock purchase plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	0	0	0	18,900
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	65,384	17,700	38,801	92,034
Restricted stock awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	0	0	0	2,053

Stock-Based Compensation

6 Months Ended

Jun. 30, 2026

Stockholders' Equity Note [Abstract]

Stock-Based Compensation

8. Stock-Based Compensation

2019 Stock Incentive Plan

The 2019 Stock Incentive Plan (the “2019 Plan”) provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), unrestricted stock, unrestricted stock units, and other stock-based awards to employees, directors, and consultants of the Company and its subsidiaries. The number of shares of common stock of TransMedics Group initially available for issuance under the 2019 Plan was 3,428,571 shares, which was increased by 1,000,000 shares in 2023, plus the number of shares underlying awards under the previously outstanding 2014 Stock Incentive Plan (the “2014 Plan”), not to exceed 1,595,189 shares, that expire or are terminated, surrendered, or cancelled without the delivery of shares, are forfeited to or repurchased by TransMedics Group or otherwise

become available again for grant. Since the effectiveness of the Company’s 2019 Plan in April 2019, no awards have been made or will be made under the 2014 Plan.

Shares withheld in payment of the exercise or purchase price of an award or in satisfaction of tax withholding requirements, and the shares covered by a stock appreciation right for which any portion is settled in stock, will reduce the number of shares available for issuance under the 2019 Plan. In addition, the number of shares available for issuance under the 2019 Plan (i) will not be increased by any shares delivered under the 2019 Plan that are subsequently repurchased using proceeds directly attributable to stock option exercises and (ii) will not be reduced by any awards that are settled in cash or that expire, become unexercisable, terminate or are forfeited to or repurchased by TransMedics Group without the issuance of stock under the 2019 Plan. On May 20, 2026, the shareholders of the Company approved an amendment to the Amended and Restated 2019 Stock Incentive Plan (the “Amended 2019 Plan”) to among other things, (i) increase the number of shares of the Company’s common stock available for issuance thereunder by 2,750,000 shares, (ii) extend the term of the Amended 2019 Plan until June 1, 2036, (iii) provide that, for awards granted on or after January 1, 2027, no portion of an award may be scheduled to vest prior to the date that is one year following the date the award is granted, except for awards that result in the issuance of an aggregate of up to five percent of the shares authorized under the Amended 2019 Plan and (iv) provide for “double-trigger” vesting of awards following a change in control. As of June 30, 2026, 3,177,228 shares of common stock were available for issuance under the Amended 2019 Plan.

2021 Inducement Plan

In August 2021, the Company’s board of directors approved the TransMedics Group, Inc. Inducement Plan (the “Inducement Plan”). Pursuant to the terms of the Inducement Plan, the Company may grant nonqualified stock options, stock appreciation rights, restricted stock, unrestricted stock, RSUs and performance awards to individuals who were not previously employees or directors of the Company or individuals returning to employment after a bona fide period of non-employment with the Company. A total of 1,000,000 shares of the Company’s common stock were initially available for issuance under the Inducement Plan, which was increased by 500,000 shares in 2023. As of June 30, 2026, 328,779 shares of common stock remained available for issuance under the Inducement Plan.

2019 Employee Stock Purchase Plan

Pursuant to the Company’s 2019 Employee Stock Purchase Plan (the “2019 ESPP”), certain employees of the Company are eligible to purchase common stock of the Company at a reduced price during offering periods. The 2019 ESPP permits participants to purchase common stock using funds contributed through payroll deductions, subject to the limitations set forth in the Internal Revenue Code, at a purchase price of 85% of the lower of the closing price of the Company’s common stock on the first trading day of the offering period or the closing price on the applicable purchase date, which is the final trading day of the applicable offering period. A total of 371,142 shares of TransMedics Group common stock were initially reserved for issuance under the 2019 ESPP. During the six months ended June 30, 2026, 16,321 shares of common stock were issued under the 2019 ESPP and as of June 30, 2026, 157,939 shares of common stock remained available for issuance under the 2019 ESPP.

Stock Option Activity

During the six months ended June 30, 2026, the Company granted options with service-based vesting for the purchase of an aggregate of 77,456 shares of common stock with a weighted average grant-date fair value of $67.42 per share.

Restricted Stock Unit Activity

During the six months ended June 30, 2026, the Company granted 71,851 RSUs with service-based vesting conditions and a weighted average grant-date fair value of $92.29 per share.

Stock-Based Compensation

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	383	$	360	$	763	$	660
Research, development and clinical trials expenses		1,065		1,189		2,535		2,505
Selling, general and administrative expenses		7,158		7,823		15,260		15,165
	$	8,606	$	9,372	$	18,558	$	18,330

As of June 30, 2026, total unrecognized compensation cost related to unvested share-based awards was $54.4 million, which is expected to be recognized over a weighted average period of 2.2 years.

The Company recognized income tax benefits related to stock-based compensation expense of $0.4 million and $4.2 million as a component in calculating its income taxes during the three and six months ended June 30, 2026, respectively. Income tax benefits related to stock-based compensation expense for the three and six months ended June 30, 2025 were fully offset by the valuation allowance against deferred tax assets.

Long-Term Debt and Financing Arrangements - Capped Call Transactions - Additional Information (Detail) - Capped Calls [Member] $ / shares in Units, $ in Millions	May 11, 2023 USD ($) TradingDays $ / shares shares
Debt Instrument [Line Items]
Purchase of capped calls related to convertible senior notes \| $	$ 52.1
Initial conversion price/rate	$ 94
Capped calls, initial cap price per share	141.88
Capped calls, subject to anti-dilution adjustments \| shares	4,893,848
Number of trading days subject to automatic exercise \| TradingDays	40
Trading day period, commencing date	Apr. 03, 2028

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Revenue and Segment Information - Schedule of Net Revenue by Organ and Country (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

$ 189,948

$ 157,370

$ 363,881

$ 300,907

OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

188,864

156,347

361,536

299,029

United States [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

183,623

152,187

350,647

290,804

All Other Countries [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

5,241

4,160

10,889

8,225

Lung revenue [Member] | United States [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

2,253

4,154

4,450

7,790

Lung revenue [Member] | All Other Countries [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

409

421

1,036

796

Heart revenue [Member] | United States [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

33,381

32,171

59,238

58,437

Heart revenue [Member] | All Other Countries [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

4,587

3,495

9,598

7,045

Liver revenue [Member] | United States [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

147,989

115,862

286,959

224,577

Liver revenue [Member] | All Other Countries [Member] | OCS transplant revenue [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

$ 245

$ 244

$ 255

$ 384

[1]	Revenue by country is categorized based on the location of the end customer. Total OCS transplant revenue includes product and service revenue.
[2]	Service revenue unrelated to OCS transplant, which was $1.0 million and $2.3 million, respectively, for the three and six months ended June 30, 2026 and $1.0 million and $1.9 million for the three and six months ended June 30, 2025, respectively, is not included in this table.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Director [Member]
Related Party Transaction [Line Items]
Compensation expense	$ 0.3	$ 0.1	$ 0.6	$ 0.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies - Schedule of Components Finance Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026
Finance Lease, Liability [Abstract]
Amortization of right-of- use assets	$ 2,073	$ 4,146
Interest on lease liability	3,831	7,620
Total finance lease cost	$ 5,904	$ 11,766

Long-term Debt and Financing Arrangements

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

7. Long-Term Debt and Financing Arrangements

Convertible Senior Notes

The Notes consisted of the following (in thousands):


	June 30,			December 31,
	2026			2025
Principal amount of convertible senior notes	$	459,996		$	459,996
Less: Current portion of convertible senior notes		—			—
Convertible senior notes, net of current portion		459,996			459,996
Debt discount, net		(5,736	)		(7,192	)
Convertible senior notes, net of discount and current portion	$	454,260		$	452,804

As of June 30, 2026, the estimated fair value of the Notes was $501.4 million. The fair value was determined based on the quoted price of the last trade of the Notes prior to the end of the reporting period in an inactive market, which is considered as Level 2 in the fair value hierarchy.

On May 11, 2023, the Company issued $460.0 million aggregate principal amount of the Notes, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act, pursuant to an indenture dated May 11, 2023, by and between the Company and U.S. Bank Trust Company, National Association (the “Indenture”).

The initial conversion price of the Notes is approximately $94.00 per share of common stock, which represents a premium of approximately 32.5% over the closing price of the Company’s common stock on May 8, 2023. The Notes will mature on June 1, 2028, unless earlier repurchased, redeemed or converted. The Company used $52.1 million of the proceeds from the sale of the Notes to fund the cost of entering into capped call transactions, described below. The proceeds from the issuance of the Notes were approximately $393.3 million, net of capped call transaction costs of $52.1 million and initial purchaser discounts and other debt issuance costs totaling $14.6 million.

The Notes bear interest at a rate of 1.50% per year and interest is payable semiannually in arrears on June 1 and December 1 of each year. The initial conversion rate is 10.6388 shares of common stock per $1,000 principal amount of the Notes, which represents an initial conversion price of approximately $94.00 per share of common stock. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events as described in the Indenture.

Before March 1, 2028, noteholders have the right to convert their Notes only upon the occurrence of certain events, including certain corporate events, and during the five business days immediately after any ten consecutive trading days in which the trading price per $1,000 principal amount of Notes is less than ninety-eight percent (98%) of the as converted value. Additionally, noteholders can convert their Notes during any calendar quarter (and only during such calendar quarter), commencing after the calendar quarter ending on September 30, 2023 but before March 1, 2028, provided the last reported sale price of the common stock for at least 20 trading days is greater than or equal to 130% of the conversion price during the 30 consecutive trading days ending on the last trading day of a calendar quarter. From and after March 1, 2028, noteholders may convert their Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company has the right to elect to settle conversions either in cash, shares or in a combination of cash and shares of its common stock.

Prior to June 8, 2026, the Notes were not redeemable. After June 8, 2026, the Company may redeem for cash all or any portion of the Notes (subject to the partial redemption limitation set forth in the Indenture), at its option, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption. In addition, calling any Note for redemption will constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) with respect to that Note, in which case the conversion rate applicable to the conversion of that Note will be increased in certain circumstances if it is converted after it is called for redemption.

During the three and six months ended June 30, 2026, the Company recognized $2.4 million and $4.9 million, respectively, in interest expense related to the 1.50% cash coupon of the Notes and amortization of debt issuance costs. During the three and six months ended June 30, 2025, the Company recognized $2.4 million and $4.9 million, respectively, in interest expense related to the 1.50% cash coupon of the Notes and amortization of debt issuance costs. During each of the three and six months ended June 30, 2026 and 2025, the effective interest rate on the outstanding Notes was approximately 2.1%.

Capped Call Transactions

In connection with the offering of the Notes, the Company entered into privately negotiated capped call transactions (the “Capped Calls”) with certain financial institution counterparties (the “Option Counterparties”). The Capped Calls are generally intended to reduce or offset the potential dilution to the common stock upon any conversion of the Notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. For accounting purposes, the Capped Calls are separate transactions, and not part of the terms of the Notes. The Capped Calls are recorded in stockholders’ equity and are not accounted for as derivatives. The cost of $52.1 million incurred to purchase the Capped Calls was recorded as a reduction to common stock on the accompanying condensed consolidated balance sheets.

Each of the Capped Calls has an initial strike price of approximately $94.00 per share, subject to certain adjustments, which corresponds to the initial conversion price of the Notes. The Capped Calls have an initial cap price of $141.88 per share, subject to certain adjustments. The Capped Calls cover, subject to anti-dilution adjustments, approximately 4,893,848 shares of the Company’s common stock, which is the same number of shares of the Company’s common stock initially underlying the Notes. The Capped Calls are subject to automatic exercise over a 40 trading day period commencing on April 3, 2028, subject to earlier termination under certain circumstances.

Long-term Debt

Long-term debt consisted of the following (in thousands):


	June 30,			December 31,
	2026			2025
Principal amount of long-term debt	$	60,000		$	60,000
Less: Current portion of long-term debt		(20,000	)		(10,000	)
Long-term debt, net of current portion		40,000			50,000
Debt discount, net		(257	)		(413	)
Long-term debt, net of discount and current portion	$	39,743		$	49,587

In July 2022, the Company entered into a credit agreement with Canadian Imperial Bank of Commerce (“CIBC”), pursuant to which the Company has borrowed $60.0 million (as amended, the “CIBC Credit Agreement”).

Borrowings under the CIBC Credit Agreement bear interest at an annual rate equal to either, at the Company’s option, (i) the secured overnight financing rate for an interest period selected by the Company, subject to a minimum of 1.50%, plus 2.0% or (ii) 1.0% plus the higher of a) the prime rate subject to a minimum of 4.0% or b) the Federal Funds Effective Rate, plus 0.5%. The Company is obligated to repay the outstanding borrowings in equal monthly installments commencing in July 2026 with the remaining balance due on the maturity date in July 2027. At the Company’s option, the Company may prepay outstanding borrowings under the CIBC Credit Agreement, without a prepayment fee.

All obligations under the CIBC Credit Agreement are guaranteed by the Company and each of its material subsidiaries. All obligations of the Company and each guarantor are secured by substantially all of the Company’s and each guarantor’s assets, including their intellectual property, subject to certain exceptions. Under the CIBC Credit Agreement, the Company has agreed to customary representations and warranties, events of default and certain affirmative and negative covenants to which it will remain subject until maturity. The financial covenants include, among other covenants, (x) a requirement to maintain a minimum liquidity amount of the greater of either (i) the consolidated adjusted EBITDA loss (or gain), as defined, for the trailing four month period (only if EBITDA is negative) and (ii) $10.0 million, and (y) a requirement to maintain total net revenue of at least 75% of the level set forth in the total revenue plan presented to CIBC. The obligations under the CIBC Credit Agreement are subject to acceleration upon the occurrence of specified events of default, including payment default, change in control, bankruptcy, insolvency, certain defaults under other material debt, certain events with respect to governmental approvals (if such events could cause a material adverse change in the Company’s business), failure to comply with certain covenants and a material adverse change in the Company’s business, operations or financial condition. As of June 30, 2026, the Company was in compliance with all financial covenants of the CIBC Credit Agreement. During the continuance of an event of default, the interest rate per annum will be equal to the rate that would have otherwise been applicable at the time of the event of default plus 2.0%. If an event of default (other than certain events of bankruptcy or insolvency) occurs and is continuing, CIBC may declare all or any portion of the outstanding principal amount of the borrowings plus accrued and unpaid interest to be due and payable. Upon the occurrence of certain events of bankruptcy or insolvency, all of the outstanding principal amount of the borrowings plus accrued and unpaid interest will automatically become due and payable. In addition, the Company may be required to prepay outstanding borrowings, subject to certain exceptions, with portions of net cash proceeds of certain asset sales and certain casualty and condemnation events.

During the three and six months ended June 30, 2026, the Company recognized $1.0 million and $1.9 million, respectively, in interest expense related to the CIBC borrowings. During the three and six months ended June 30, 2025, the Company recognized $1.0 million and $2.1 million, respectively, in interest expense related to the CIBC borrowings. During each of the three and six months ended June 30, 2026, the weighted average effective interest rate on outstanding borrowings under the CIBC Credit Agreement was approximately 6.1%. During each of the three and six months ended June 30, 2025, the weighted average effective interest rate on outstanding borrowings under the CIBC Credit Agreement was approximately 6.8%. As of June 30, 2026, the stated interest rate applicable to borrowings under the CIBC Credit Agreement was 6.2%.

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2026	Jul. 30, 2026
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2026
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Entity Registrant Name	TransMedics Group, Inc.
Entity Central Index Key	0001756262
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		34,675,145
Entity File Number	001-38891
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	83-2181531
Entity Address, Address Line One	200 Minuteman Road
Entity Address, City or Town	Andover
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01810
City Area Code	978
Local Phone Number	552-0900
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, No Par Value
Trading Symbol	TMDX
Security Exchange Name	NASDAQ

Net Income per Share - Reconciliation of Numerators and Denominators of Basic and Dilutive Net Income per Common Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss)	$ 14,682	$ 7,315	$ 34,907	$ 25,682	$ 21,997	$ 60,589
Add: Interest expense, net of tax, attributable to assumed conversion of convertible senior notes	1,835		2,354		0	4,699
Net income, diluted	$ 16,517		$ 37,261		$ 21,997	$ 65,288
Weighted average common shares outstanding, basic	34,579,980		33,912,669		34,482,634	33,817,664
Weighted average common shares outstanding, diluted	40,709,227		40,558,953		36,003,677	40,238,501
Net income per share, basic	$ 0.42		$ 1.03		$ 0.64	$ 1.79
Net income per share, diluted	$ 0.41		$ 0.92		$ 0.61	$ 1.62
Employee stock purchase plan [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	10,533		15,280		8,265	7,682
Convertible senior notes [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	4,893,805		4,893,805		0	4,893,805
Options to purchase common stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	1,127,400		1,489,855		1,310,695	1,346,155
Restricted stock units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	97,012		246,718		201,577	172,880
Restricted stock awards [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	497		626		506	315

Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

10. Commitments and Contingencies

Finance Lease

Agreements

On January 8, 2026, the Company entered into a lease agreement (the “Lease”) with BioMed Realty (the “Landlord”) for the lease of a building with approximately 498,286 square feet of space in Somerville, Massachusetts for the Company’s principal executive offices and for research and development, laboratory, manufacturing and assembly, vivarium, office and related uses (the “Premises”) to ultimately replace its existing headquarters in Andover, Massachusetts. The Lease expires in January 2044, unless earlier terminated (the “Initial Term”). Base rent begins to accrue in January 2028 at an annual rate of $23.9 million, and will increase by 2% annually during the first three years of the Initial Term and by 3% annually for each year thereafter. The Company will also be obligated to pay annual operating and tax expenses for the Premises. The Company holds two consecutive options to extend the term for additional periods of ten years each as well as an option to extend the term for a period of six months.

The Lease includes a one-time purchase option for the Company to buy the Premises and associated parking spaces, exercisable by the Company at any time prior to November 2028. The purchase price is $374.6 million if the option is exercised on or before December 31, 2027; if exercised thereafter, the purchase price increases based on a formula tied to future payments. The Lease also provides for a tenant improvement allowance of $0.4 million.

The Company has delivered a security deposit to the Landlord in the form of a letter of credit for $17.9 million, which is classified as restricted cash (non-current) on the condensed consolidated balance sheets.

Additionally, on January 8, 2026, the Company acquired two parcels adjacent to the Premises in Somerville, Massachusetts from the Landlord and an entity affiliated with the Landlord for $15.0 million each.

Accounting

The Company accounted for the Lease and property purchases as one combined contract under ASC 842, Leases (Topic 842). Because the Lease grants the Company an option to purchase the underlying assets that the Company is reasonably certain to exercise, the Company classified the Lease as a finance lease. Accordingly, total consideration for the combined contract of $404.3 million, including the estimated payment to purchase the property under lease less the tenant improvement allowance and the payments to purchase the two properties, was allocated to the Lease and property purchases based on relative standalone selling prices. The property purchases are included in land and building within property, plant and equipment on the condensed consolidated balance sheets (see Note 4).

The Company recorded a finance lease right-of-use asset of $336.6 million as of the lease commencement date of January 8, 2026, representing the present value of the lease payments less the tenant improvement allowance and a tenant rebate of $3.7 million, allocated to the contract components.

Because the interest rate implicit in the Lease was not readily determinable, the Company’s incremental borrowing rate of 4.4% was used to calculate the present value of the payments under the Lease. In determining its incremental borrowing rate, the Company considered its credit quality and assessed interest rates available in the market for similar borrowings for a similar term, adjusted for the impact of collateral.

The components of the Company’s finance lease cost under ASC 842 are as follows (in thousands):


	Three months ended June 30, 2026		Six months ended June 30, 2026
Finance lease cost
Amortization of right-of-use assets	$	2,073	$	4,146
Interest on lease liability		3,831		7,620
Total finance lease cost	$	5,904	$	11,766

Because the lease contains a purchase option which the Company is reasonably certain to exercise, the building is being amortized on a straight-line basis over its estimated useful life of 40 years.

Future payments under the Lease, inclusive of the Company’s assumed exercise of the purchase option, as of June 30, 2026 were as follows (in thousands):


Year Ending December 31,
2026 (six months)	$	—
2027		374,590
2028		—
2029		—
2030		—
Thereafter		—
Total future minimum lease payments		374,590
Less: tenant improvement allowance		(400	)
Less: amount allocated to property purchases		(3,986	)
Less: imputed interest		(22,544	)
Total finance lease liability	$	347,660

Operating Leases

There have been no material changes to the Company’s operating leases during the six months ended June 30, 2026. For additional information, please read Note 11 Leases, to the consolidated financial statements in the Company’s Form 10-K for the year ended December 31, 2025.

401(k) Savings Plan

The Company has a defined-contribution savings plan under Section 401(k) of the Internal Revenue Code. This plan covers substantially all employees who meet minimum age and service requirements and allows participants to defer a portion of their compensation on a pre-tax basis. Company contributions to the plan may be made at the discretion of the board of directors. Effective January 1, 2023, the Company instituted an employer matching program for the plan pursuant to which the Company will match 100% of the first 3% of each participating employee’s eligible compensation contributed to the plan and 50% of up to an additional 2% each participating employee’s eligible compensation contributed to the plan. For the three and six months ended June 30, 2026, the Company recorded expense of $1.1 million and $2.6 million, respectively, related to these matching contributions. For the three and six months ended June 30, 2025, the Company recorded expense of $0.9 million and $2.0 million, respectively, related to these matching contributions.

Indemnification Agreements

In the ordinary course of business, the Company may provide indemnification of varying scope and terms to customers, vendors, lessors, business partners, and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements, negligence or willful misconduct, or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or services as directors or officers.

The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company is not currently aware of any indemnification claims and had not accrued any liabilities related to such obligations in its condensed consolidated financial statements as of June 30, 2026 and December 31, 2025.

Unconditional Purchase Commitment

In January 2021, the Company entered into an unconditional $9.5 million purchase commitment, in the ordinary course of business, for goods with specified annual minimum quantities to be purchased through December 2029. The contract is not cancellable without penalty. The remaining purchase commitment as of June 30, 2026 was $4.0 million.

Legal Proceedings

On February 14, 2025, a class action captioned Jewik v. TransMedics Group, Inc., et al., Case No. 1:25-cv-10385, was filed against the Company and certain of its current and former officers in the U.S. District Court for the District of Massachusetts. The complaint purported to assert claims pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), as amended, and SEC Rule 10b-5 promulgated thereunder, seeking unspecified damages on behalf of a putative class of investors who purchased or otherwise acquired the Company’s shares between February 28, 2023 and January 10, 2025 (the “Class Period”). On April 2, 2025, another purported stockholder filed a putative class action lawsuit against the Company and certain of its current and former officers, also in the U.S. District Court for the District of Massachusetts (Collins v. TransMedics Group, Inc., et al., Case No. 1:25-cv-10778). The Collins complaint alleged claims substantially similar to those alleged in the Jewik action and also sought unspecified damages. On May 22, 2025, the court consolidated the Jewik and Collins actions and appointed the Peace Officers’ Annuity and Benefit Fund of Georgia and Oguzhan Altun as lead plaintiffs (the “Lead Plaintiffs”).

On August 8, 2025, Lead Plaintiffs filed a consolidated amended complaint. Like the earlier-filed complaints, the consolidated amended complaint purports to assert claims pursuant to Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5, on behalf of a putative class of investors who purchased or otherwise acquired the Company’s shares during the Class Period. Lead Plaintiffs seek unspecified damages allegedly caused by purported misstatements and omissions contained in the Company’s 2022 Annual Report, certain earnings calls, and other public statements. The consolidated amended complaint claims these alleged statements and omissions operated to artificially inflate the price paid for the Company’s common stock during the Class Period. On October 7, 2025, defendants filed a motion to dismiss the consolidated amended complaint for failure to state a claim. Lead Plaintiffs filed their response to the motion on November 21, 2025, and defendants filed a reply in further support of their motion on December 22, 2025. The court heard oral argument on defendants’ motion on July 9, 2026, and on July 21, 2026 the court granted in part and denied in part the motion to dismiss. The case is proceeding to discovery and defendants’ answer to the consolidated amended complaint is due on August 18, 2026.

At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. At this time, the Company is unable to predict the outcome of the class action litigation or reasonably estimate a range of possible losses. The Company expenses as incurred the costs related to such legal proceedings.

Commitments and Contingencies - Additional Information (Detail) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 08, 2026 USD ($) Option	Jan. 31, 2021 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jan. 08, 2026 Parcel	Jan. 08, 2026 Property	Jan. 08, 2026 ft²	Jan. 08, 2026 USD ($)
Recorded Unconditional Purchase Obligation [Line Items]
Defined contribution plan, contribution amount			$ 1,100	$ 900	$ 2,600	$ 2,000
Recorded unconditional purchase commitment, minimum quantity required		$ 9,500
Recorded unconditional purchase commitment, maturity year and month		2029-12
Remaining purchase commitment			4,000		4,000
Number of properties acquired							2	2
Total consideration										$ 404,300
Finance lease right-of-use asset			332,472		$ 332,472					336,600
Incremental borrowing rate of interest	4.40%
First 3% of Compensation Contributed [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Defined contribution plan, matching percentage of each employee's contribution					100.00%
100% Match [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Defined contribution plan, percentage of matching contribution					3.00%
Excess of 3% to 5% of Compensation Contributed [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Defined contribution plan, matching percentage of each employee's contribution					50.00%
Fifty Percent Match [Member] \| Additional Maximum [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Defined contribution plan, percentage of matching contribution					2.00%
BRE-BMR Middlesex LLC [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Purchase price of each property	$ 15,000
BRE-BMR Assembly Innovation I LLC {Member]
Recorded Unconditional Purchase Obligation [Line Items]
Purchase price of each property	$ 15,000
BioMed Realty
Recorded Unconditional Purchase Obligation [Line Items]
Area of real estate property \| ft²									498,286
Lessee finance lease description	Base rent begins to accrue in January 2028 at an annual rate of $23.9 million, and will increase by 2% annually during the first three years of the Initial Term and by 3% annually for each year thereafter. The Company will also be obligated to pay annual operating and tax expenses for the Premises. The Company holds two consecutive options to extend the term for additional periods of ten years each as well as an option to extend the term for a period of six months.
Lease expiration month and year	Jan. 31, 2044
Base rent accrue date	Jan. 01, 2028
Excercise purchase price	$ 374,600
BioMed Realty \| Letter of Credit [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Security deposit										17,900
BioMed Realty \| First Three Years Of Initial Term [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Lease base rent annual increase	2.00%
BioMed Realty \| After Three Years During Initial Term [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Lease base rent annual increase	3.00%
BioMed Realty \| Option One [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Lessee, finance lease, renewal term	10 years
BioMed Realty \| Option Two [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Lessee, finance lease, renewal term	6 months
BioMed Realty \| First Lease Year [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Finance Lease Annual Base Rent	$ 23,900
BioMed Realty \| Ten Year Renewal Term [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Lessee financing lease number of renewal terms \| Option	2
Tenant Rebate
Recorded Unconditional Purchase Obligation [Line Items]
Tenant improvement allowance										3,700
Tenant Improvements
Recorded Unconditional Purchase Obligation [Line Items]
Tenant improvement allowance			$ 400		$ 400					$ 400
Building
Recorded Unconditional Purchase Obligation [Line Items]
Expected useful life			40 years		40 years

Subsequent Events

6 Months Ended

Jun. 30, 2026

Subsequent Events [Abstract]

Subsequent Events

14. Subsequent Events

In July 2026, the Company made an investment in PAD Aviation service GmbH, a Germany-based private aviation operator.

Long-Term Debt and Financing Arrangements - Schedule of Notes (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Convertible senior notes, net of discount and current portion	$ 454,260	$ 452,804
Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount	459,996	459,996
Debt discount, net	(5,736)	(7,192)
Net of current portion	$ 459,996	$ 459,996

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Long-Term Debt and Financing Arrangements - Schedule of Long-term Debt Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Less: Current portion of long-term debt	$ (20,000)	$ (10,000)
Long-term debt, net of discount and current portion	39,743	49,587
Term Loan [Member]
Debt Instrument [Line Items]
Principal amount	60,000	60,000
Less: Current portion of long-term debt	(20,000)	(10,000)
Net of current portion	40,000	50,000
Debt discount, net	(257)	(413)
Long-term debt, net of discount and current portion	$ 39,743	$ 49,587

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue and Segment Information

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Revenue and Segment Information

11. Revenue and Segment Information

Disaggregated Revenue

The Company disaggregates revenue from contracts with customers related to OCS transplant by organ type and geographical area as it believes this presentation best depicts how the nature, amount, timing and uncertainty of the Company’s revenue and cash flows are affected by economic factors, as shown below (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
OCS transplant revenue by country by organ(1)(2):
United States
Lung total revenue	$	2,253	$	4,154	$	4,450	$	7,790
Heart total revenue		33,381		32,171		59,238		58,437
Liver total revenue		147,989		115,862		286,959		224,577
Total United States OCS transplant revenue		183,623		152,187		350,647		290,804
All other countries
Lung revenue		409		421		1,036		796
Heart revenue		4,587		3,495		9,598		7,045
Liver revenue		245		244		255		384
Total all other countries OCS transplant revenue		5,241		4,160		10,889		8,225
Total OCS transplant revenue	$	188,864	$	156,347	$	361,536	$	299,029

(1)

Revenue by country is categorized based on the location of the end customer. Total OCS transplant revenue includes product and service revenue.

(2)

Service revenue unrelated to OCS transplant, which was $1.0 million and $2.3 million, respectively, for the three and six months ended June 30, 2026 and $1.0 million and $1.9 million for the three and six months ended June 30, 2025, respectively, is not included in this table.

Payments to Customers

In connection with its clinical trials, the Company makes payments to customers to reimburse the cost of clinical trial materials and other costs incurred by customers in executing specified clinical trial protocols related to the Company’s OCS products. The Company evaluates the appropriate accounting treatment for these payments based on their nature, including whether the payments are in exchange for distinct goods or services.

Payments that do not represent consideration for a distinct good or service received from the customer at fair value are recorded as a reduction of revenue. The Company recognizes such reductions of revenue and the related accrual in the same period in which the associated revenue is recognized. The Company updates its estimates of these accruals as additional information becomes available, with a corresponding adjustment to revenue. For each of the three and six months ended June 30, 2026 and 2025, the impact of adjustments to revenue related to these payments was not material.

Payments that represent consideration for distinct goods or services received from the customer, and for which the consideration reflects the fair value of those goods or services, are recorded as operating expenses. For the three and six months ended June 30, 2026, the Company recorded $2.4 million and $4.6 million, respectively, as operating expenses related to these payments. For the three and six months ended June 30, 2025, the Company recorded $1.7 million and $3.0 million, respectively, as operating expenses related to these payments.

Segment Information

The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the Company’s chief operating decision maker, or decision-making group (the “CODM”), in deciding how to allocate resources and assess performance. The CODM of the Company is the Chief Executive Officer. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations and the Company’s operations are managed on a consolidated basis to decide where to allocate and invest additional resources within the business to continue growth. The CODM also utilizes the consolidated balance sheet for resource allocation and segment asset information is not provided to the CODM to allocate resources.

As a single reportable segment entity, the Company’s segment performance measure is net income (loss). Significant segment expenses, as provided to the CODM, are presented below (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Total revenue	$	189,948	$	157,370	$	363,881	$	300,907
Less:
Cost of net product revenue		25,566		19,421		49,874		35,733
Cost of service revenue		51,184		41,360		99,648		80,357
Research, development and clinical trials:
Personnel related (including stock-based compensation expense)		7,754		5,964		16,162		12,216
Laboratory supplies and research materials		6,218		5,206		10,359		10,162
Consulting and third-party services		12,866		2,302		21,275		6,475
Clinical trials costs		1,615		267		2,320		348
Facility and IT related and other		3,179		2,195		6,395		3,893
Selling, general and administrative:
Personnel related (including stock-based compensation expense)		30,931		27,307		65,037		54,978
Professional and consultant fees		8,263		5,696		17,525		13,254
NOP support		1,923		1,932		3,503		4,338
Tradeshows and conferences		1,721		1,549		2,990		1,975
Facility and IT related and other		8,648		5,960		16,440		10,282
Depreciation and amortization expense		4,289		1,644		10,351		2,886
Transaction-related costs		1,745		—		4,452		—
Headquarters relocation costs		65		—		272		—
ERP implementation costs		245		—		245		—
Other segment items(1)		9,054		1,660		15,036		3,421
Net income	$	14,682	$	34,907	$	21,997	$	60,589

(1)

Other segment items include interest income, interest expense, foreign currency exchange gains and losses and income taxes. See the condensed consolidated financial statements for other financial information regarding the Company’s operating segment.

Substantially all of the Company’s tangible long-lived assets are located in the United States.

Net Income per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Reconciliation of Numerators and Denominators of Basic and Dilutive Net Income per Common Share Computations

A reconciliation of the numerators and the denominators of the basic and dilutive net income per common share computations are as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net income	$	14,682	$	34,907	$	21,997	$	60,589
Add: Interest expense, net of tax, attributable to assumed conversion of convertible senior notes		1,835		2,354		—		4,699
Net income, diluted	$	16,517	$	37,261	$	21,997	$	65,288

Denominator:
Weighted average basic common shares outstanding		34,579,980		33,912,669		34,482,634		33,817,664
Effect of dilutive securities:
Convertible senior notes		4,893,805		4,893,805		—		4,893,805
Options to purchase common stock		1,127,400		1,489,855		1,310,695		1,346,155
Restricted stock units		97,012		246,718		201,577		172,880
Restricted stock awards		497		626		506		315
Employee stock purchase plan		10,533		15,280		8,265		7,682
Weighted average dilutive common shares outstanding		40,709,227		40,558,953		36,003,677		40,238,501
Net income per share:
Basic	$	0.42	$	1.03	$	0.64	$	1.79
Diluted	$	0.41	$	0.92	$	0.61	$	1.62

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The Company excluded the following potential common shares, presented based on weighted average shares outstanding, from the computation of diluted net income per share because including them would have had an anti-dilutive effect:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Convertible senior notes		—		—		4,893,805		—
Options to purchase common stock		693,183		609,891		413,619		754,178
Employee stock purchase plan		—		—		—		18,900
Restricted stock units		65,384		17,700		38,801		92,034
Restricted stock awards		—		—		—		2,053
		758,567		627,591		5,346,225		867,165

Inventory

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Inventory

3. Inventory

Inventory consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Raw materials	$	28,555	$	26,249
Work-in-process		3,292		2,006
Finished goods		22,290		20,626
	$	54,137	$	48,881

Commitments and Contingencies - Summary of Future Payments under the Lease (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Jan. 08, 2026
Recorded Unconditional Purchase Obligation [Line Items]
2026 (nine months)	$ 0
2027	374,590
2028	0
2029	0
2030	0
Thereafter	0
Total future minimum lease payments	374,590
Less: amount allocated to property purchases	(3,986)
Less: imputed interest	(22,544)
Total finance lease liability	347,660
Tenant Improvements
Recorded Unconditional Purchase Obligation [Line Items]
Less: tenant improvement allowance	$ (400)	$ (400)

Revenue and Segment Information - Schedule of Net Revenue by Organ and Country (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Revenue	$ 189,948	$ 157,370	$ 363,881	$ 300,907
Service Unrelated to OCS Transplant [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 1,000	$ 1,000	$ 2,300	$ 1,900

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Revenue and Segment Information - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($) Segment	Jun. 30, 2025 USD ($)
Revenue from Contract with Customer [Abstract]
Research development and clinical trials expenses \| $	$ 2.4	$ 1.7	$ 4.6	$ 3.0
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description			The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the Company’s chief operating decision maker, or decision-making group (the “CODM”), in deciding how to allocate resources and assess performance. The CODM of the Company is the Chief Executive Officer. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations and the Company’s operations are managed on a consolidated basis to decide where to allocate and invest additional resources within the business to continue growth. The CODM also utilizes the consolidated balance sheet for resource allocation and segment asset information is not provided to the CODM to allocate resources. As a single reportable segment entity, the Company’s segment performance measure is net income (loss). Significant segment expenses, as provided to the CODM, are presented below (in thousands):
Number of reportable segment \| Segment			1
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]			srt:ChiefExecutiveOfficerMember

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 472,675	$ 488,366
Accounts receivable	104,138	84,282
Inventory	54,137	48,881
Prepaid expenses and other current assets	20,174	16,254
Total current assets	651,124	637,783
Property, plant and equipment, net	365,302	327,656
Finance lease right-of-use assets, net	332,472
Operating lease right-of-use assets, net	4,646	5,155
Deferred tax assets	78,677	83,543
Restricted cash	18,438	500
Goodwill	11,549	11,549
Acquired intangible assets, net	0	1,948
Other non-current assets	2,188	239
Total assets	1,464,396	1,068,373
Current liabilities:
Accounts payable	12,909	10,350
Accrued expenses and other current liabilities	58,598	62,740
Current portion of long-term debt	20,000	10,000
Deferred revenue	3,130	2,905
Operating lease liabilities	3,646	3,310
Total current liabilities	98,283	89,305
Convertible senior notes, net	454,260	452,804
Long-term debt, net	39,743	49,587
Finance lease liability	347,660
Operating lease liabilities, net of current portion	2,411	3,577
Other long-term liabilities	3,986
Total liabilities	946,343	595,273
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, no par value; 25,000,000 shares authorized; no shares issued or outstanding
Common stock, no par value; 150,000,000 shares authorized; 34,629,682 shares and 34,267,802 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	774,216	750,926
Accumulated other comprehensive income (loss)	(210)	124
Accumulated deficit	(255,953)	(277,950)
Total stockholders' equity	518,053	473,100
Total liabilities and stockholders' equity	$ 1,464,396	$ 1,068,373

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Income Tax Disclosure [Abstract]
Income tax expense	$ 4,723,000		$ 1,275,000	$ 5,893,000	$ 2,269,000
Effective tax rate	24.30%			21.10%
Statutory federal corporate tax rate	21.00%			21.00%
Increase in income tax expense		$ 2,500,000
Unrecognized tax benefits	$ 0			$ 0		$ 0
Accrued interest or tax penalties recorded	$ 0			$ 0		$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 189,948	$ 157,370	$ 363,881	$ 300,907
Cost of revenue:
Total cost of revenue	76,750	60,781	149,522	116,090
Gross profit	113,198	96,589	214,359	184,817
Operating expenses:
Research, development and clinical trials	31,632	15,934	56,511	33,094
Selling, general and administrative	57,830	44,088	120,815	87,713
Total operating expenses	89,462	60,022	177,326	120,807
Income from operations	23,736	36,567	37,033	64,010
Other income (expense):
Interest expense	(7,225)	(3,476)	(14,395)	(6,937)
Interest income and other income (expense), net	2,894	3,091	5,252	5,785
Total other expense, net	(4,331)	(385)	(9,143)	(1,152)
Income before income taxes	19,405	36,182	27,890	62,858
Provision for income taxes	(4,723)	(1,275)	(5,893)	(2,269)
Net income	$ 14,682	$ 34,907	$ 21,997	$ 60,589
Net income per share, basic	$ 0.42	$ 1.03	$ 0.64	$ 1.79
Net income per share, diluted	$ 0.41	$ 0.92	$ 0.61	$ 1.62
Weighted average common shares outstanding, basic	34,579,980	33,912,669	34,482,634	33,817,664
Weighted average common shares outstanding, diluted	40,709,227	40,558,953	36,003,677	40,238,501
Net product revenue [Member]
Revenue:
Total revenue	$ 111,158	$ 96,100	$ 219,130	$ 184,334
Cost of revenue:
Total cost of revenue	25,566	19,421	49,874	35,733
Service Revenue [Member]
Revenue:
Total revenue	78,790	61,270	144,751	116,573
Cost of revenue:
Total cost of revenue	$ 51,184	$ 41,360	$ 99,648	$ 80,357

Accrued Expenses and Other Current Liabilities

6 Months Ended

Jun. 30, 2026

Accrued Expenses And Other Current Liabilities [Abstract]

Accrued Expenses and Other Current Liabilities

6. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Accrued payroll and related expenses	$	20,222	$	28,443
Accrued transportation costs		2,500		2,700
Accrued clinical trials expenses		6,983		5,865
Accrued external research and development expenses		4,697		3,104
Accrued property, plant and equipment		2,365		928
Accrued professional fees		5,921		3,378
Accrued third-party surgeon costs		4,809		3,996
Accrued other		11,101		14,326
	$	58,598	$	62,740

Certain prior year amounts have been reclassified to conform to the current-period presentation.

Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2026

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

4. Property, Plant and Equipment, Net

Property, plant and equipment, net consisted of the following (in thousands):


	June 30,			December 31,
	2026			2025
Transplant aircraft	$	295,563		$	295,527
Transplant aircraft equipment		3,100			3,100
Flight school aircraft		3,730			3,717
OCS Consoles		28,706			24,590
Manufacturing equipment		14,589			12,101
Computer equipment and software		3,392			3,376
Internal-use software		16,221			12,413
Laboratory equipment		4,359			3,698
Office, trade show and training equipment		5,400			5,260
Building		20,352			—
Leasehold improvements		25,834			25,113
Construction-in-progress		9,755			2,174
Land		16,262			2,652
		447,263			393,721
Less: Accumulated depreciation and amortization		(81,961	)		(66,065	)
	$	365,302		$	327,656

During the three and six months ended June 30, 2026, total depreciation and amortization expense, including finance lease amortization (see Note 10), was $10.3 million and $20.2 million, respectively. During the three and six months ended June 30, 2025, total depreciation and amortization expense was $6.7 million and $12.8 million, respectively. Construction-in-progress as of June 30, 2026 primarily related to the design and construction of the Company’s new headquarters facility in Somerville, Massachusetts and manufacturing facilities in Italy. Construction-in-progress as of December 31, 2025 primarily related to the in-process construction of manufacturing equipment.

The Company capitalized costs associated with the development of internal-use software of $2.5 million and $4.4 million during the three and six months ended June 30, 2026, respectively, and $2.2 million and $4.0 million during the three and six months ended June 30, 2025, respectively. The Company recorded amortization expense of $0.8 million and $1.5 million during the three and six months ended June 30, 2026, respectively, and $0.4 million during each of the three and six months ended June 30, 2025. The net book value of internal-use software was $14.1 million and $11.2 million as of June 30, 2026 and December 31, 2025, respectively, of which $0.7 million and $0.1 million was included in construction-in-progress as of those respective dates.

Substantially all of the Company's tangible property, plant and equipment are held in the United States.

Income Taxes

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

For the three and six months ended June 30, 2026, the Company recorded income tax expense of $4.7 million and $5.9 million, respectively, by applying a forecasted annual effective tax rate to year-to-date pretax income, and adjusting for discrete items occurring in the periods. The Company’s forecasted annual effective tax rate may vary from period to period based on many factors including changes in management’s forecast, changes to federal, state or foreign tax laws, and deductibility of certain expenses. During the first quarter of 2026, the Company recorded an out-of-period adjustment to reduce deferred tax assets and increase income tax expense by $2.5 million. This adjustment was not material for the year ended December 31, 2025.

The Company’s effective tax rate of 24.3% for the three months ended June 30, 2026 differed from the statutory federal corporate tax rate of 21% primarily due to state income taxes, which increased the effective tax rate. The Company’s effective tax rate of 21.1% for the six months ended June 30, 2026 differed from the statutory federal corporate tax rate of 21% primarily due to state income taxes, which increased the effective tax rate, offset by discrete items occurring during the period.

The Company has not recorded any amounts for unrecognized tax benefits as of June 30, 2026 or December 31, 2025. As of June 30, 2026 and December 31, 2025, the Company had no accrued interest or tax penalties recorded.

For the three and six months ended June 30, 2025, the Company recorded income tax expense of $1.3 million and $2.3 million, respectively, consisting primarily of state income taxes. Until the fourth quarter of 2025, the Company maintained a valuation allowance on its overall net deferred tax assets.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Section 50
-Paragraph 1
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+ Details

Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense			$ 22,106	$ 12,868
Capitalized costs for development of internal use software	$ 2,500	$ 2,200	4,400	4,000
Amortization expense	800	400	1,500	400
Capitalized internal use software, net	14,100		14,100		$ 11,200
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	10,300	$ 6,700	20,200	$ 12,800
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Capitalized internal use software, net	$ 700		$ 700		$ 100

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Nature of the Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Accounting Policies [Abstract]
Cash	$ 472,675	$ 488,366	$ 400,575

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Unaudited Interim Financial Information

The accompanying unaudited interim financial statements and related notes have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2025 included in the Company’s Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company’s financial position as of June 30, 2026 and results of operations for the three and six months ended June 30, 2026 and 2025 and cash flows for the six months ended June 30, 2026 and 2025 have been made. The Company’s results of operations for the

three and six months ended June 30, 2026 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2026 or any other period.

Use of Estimates

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 condensed 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 goodwill, the valuation of stock-based awards and income taxes. 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 condensed 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. Actual results may differ from those estimates or assumptions.

Risk of Concentrations of Credit, Significant Customers and Significant Suppliers

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, 2026 and December 31, 2025, the Company had no allowance for credit losses. Significant customers are those that accounted for 10% or more of the Company’s revenue or accounts receivable. For the three and six months ended June 30, 2026 and 2025, no customer accounted for more than 10% of revenue. As of June 30, 2026 and December 31, 2025, no customer accounted for more than 10% of accounts receivable.

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.

Fair Value Measurements

Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

•

Level 1—Quoted prices in active markets for identical assets or liabilities.

•

Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

•

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The carrying values of the Company’s accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term nature of these assets and liabilities. The carrying value of the Company’s long-term debt approximates its fair value (a Level 2 measurement) at each balance sheet date due to its variable interest rate, which approximates a market interest rate. The Company’s 1.50% convertible senior notes due 2028 (the “Notes”) are carried at the face value less unamortized debt discount and issuance costs on the accompanying condensed consolidated balance sheets, and the fair value of the Notes is presented at each reporting period for disclosure purposes only (see Note 7).

Spare Parts Inventory

Spare parts are used in aviation operations and are generally not for sale. Spare parts inventory is comprised of repairable and expendable spare aircraft parts, which are valued at the lower of cost or net realizable value, using the specific identification method. Storage costs and miscellaneous materials and supplies costs related to inventory or to support flight equipment are expensed as incurred. As of June 30, 2026 and December 31, 2025, spare parts inventory of $4.3 million and $4.7 million, respectively, is included within prepaid expenses and other current assets on the accompanying condensed consolidated balance sheets. The Company determines, based on the evidence that exists, whether or not it is appropriate to maintain a reserve for excess and obsolete spare parts inventory. The reserve is based on historical experience related to the disposal of inventory due to damage, physical deterioration, obsolescence, or other causes. As of June 30, 2026 and December 31, 2025, the Company had no allowance for spare parts excess and obsolescence.

Foreign Currency Translation

The functional currency of each of the Company’s foreign subsidiaries is the currency of the local country. Assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars using the period-end exchange rates, and income and expense items are translated into U.S. dollars using average exchange rates in effect during each period. The effects of these foreign currency translation adjustments are included in accumulated other comprehensive income (loss), a separate component of stockholders’ equity.

The Company also incurs transaction gains and losses resulting from intercompany transactions as well as transactions with customers or vendors denominated in currencies other than the functional currency of the legal entity in which the transaction is recorded. Realized and unrealized foreign currency transaction gains (losses) are included in the condensed consolidated statements of operations as a component of other income (expense). Realized and unrealized losses totaled $0.1 million and $0.7 million for the three and six months ended June 30, 2026, respectively, and realized and unrealized gains totaled $0.6 million and $1.0 million for the three and six months ended June 30, 2025, respectively.

Recently Adopted Accounting Pronouncements

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326) to introduce a practical expedient to calculating current expected credit loss by assuming that the current conditions as of the balance sheet date will not change for the remaining life of the asset. This expedient can only be applied to current accounts receivable and current contract assets. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025 and interim periods within those annual periods, and this update is applied prospectively. The Company adopted this standard effective January 1, 2026 and applied the practical expedient to assets within its scope. The adoption did not have a material impact on the consolidated financial statements and related disclosures.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) to improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. ASU 2024-03 allows for adoption using either a prospective or retrospective method. The Company is currently assessing the impact of the adoption of this guidance on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes all references to software development project stages and requires entities to start capitalizing software costs when both of the following occur: (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, with early adoption permitted as of the beginning of a fiscal year. The amendments can be applied prospectively, retrospectively, or via a modified prospective transition method. The Company is currently assessing the impact of the adoption of this guidance on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. ASU 2025-10 establishes authoritative guidance for accounting for government grants received by business entities, clarifies the appropriate accounting, in an effort to reduce diversity in practice, and increase consistency of application across business entities. ASU 2025-10 is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods. Adoption of this guidance can be applied via a modified prospective approach, a modified retrospective approach, or a retrospective approach. Early adoption is

permitted. The Company is currently assessing the impact of the adoption of this guidance on its consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 21,997	$ 60,589
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	22,106	12,868
Stock-based compensation expense	18,558	18,330
Deferred taxes	4,866
Non-cash interest expense	9,232	1,578
Non-cash operating lease expense	1,229	997
Unrealized foreign currency transaction (gains) losses	652	(1,473)
Loss on disposal of fixed assets		80
Changes in operating assets and liabilities
Accounts receivable	(19,948)	(6,616)
Inventory	(10,246)	5,717
Prepaid expenses and other current assets	(2,388)	1,081
Other non-current assets	(242)	(4)
Accounts payable	2,724	(410)
Accrued expenses and other current liabilities	(5,335)	(2,413)
Deferred revenue	225	(192)
Operating lease liabilities	(1,588)	(1,378)
Net cash provided by operating activities	41,842	88,754
Cash flows from investing activities:
Purchases of property, plant and equipment	(43,749)	(36,113)
Net cash used in investing activities	(43,749)	(36,113)
Cash flows from financing activities:
Proceeds from issuance of common stock upon exercise of stock options	3,221	8,831
Proceeds from issuance of common stock in connection with employee stock purchase plan	1,688	1,286
Tax withholding payments related to net settlement of restricted stock units	(177)
Net cash provided by financing activities	4,732	10,117
Effect of exchange rate changes on cash and restricted cash	(578)	1,167
Net increase in cash and restricted cash	2,247	63,925
Cash and restricted cash, beginning of period	488,866	337,150
Cash and restricted cash, end of period	491,113	401,075
Supplemental disclosure of non-cash activities:
Transfers of inventory to property, plant and equipment	4,897	2,251
Purchases of property, plant and equipment included in accounts payable and accrued expenses	2,910	1,240
Operating lease liabilities arising from obtaining right-of-use assets	763	324
Finance lease liability arising from obtaining right-of-use assets	340,040
Purchases of property, plant and equipment included in other long-term liabilities	3,986
Reconciliation of cash and restricted cash:
Cash	472,675	400,575
Restricted Cash	18,438	500
Total cash and restricted cash shown in the statement of cash flows	$ 491,113	$ 401,075

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Dec. 31, 2024	$ 228,603	$ 697,208	$ (364)	$ (468,241)
Balance, Shares at Dec. 31, 2024		33,617,972
Issuance of common stock upon the exercise of common stock options	1,742	$ 1,742
Issuance of common stock upon the exercise of common stock options, Shares		77,101
Issuance of common stock in connection with employee stock purchase plan	1,286	$ 1,286
Issuance of common stock in connection with employee stock purchase plan, Shares		24,268
Restricted common stock forfeitures, Shares		(2,880)
Vesting of restricted stock units, Shares		111,419
Stock-based compensation expense	8,958	$ 8,958
Foreign currency translation adjustment	37		37
Net income	25,682			25,682
Balance at Mar. 31, 2025	266,308	$ 709,194	(327)	(442,559)
Balance, Shares at Mar. 31, 2025		33,827,880
Balance at Dec. 31, 2024	228,603	$ 697,208	(364)	(468,241)
Balance, Shares at Dec. 31, 2024		33,617,972
Foreign currency translation adjustment	462
Net income	60,589
Balance at Jun. 30, 2025	318,101	$ 725,655	98	(407,652)
Balance, Shares at Jun. 30, 2025		34,039,710
Balance at Mar. 31, 2025	266,308	$ 709,194	(327)	(442,559)
Balance, Shares at Mar. 31, 2025		33,827,880
Issuance of common stock upon the exercise of common stock options	7,089	$ 7,089
Issuance of common stock upon the exercise of common stock options, Shares		192,937
Vesting of restricted stock units, Shares		18,893
Stock-based compensation expense	9,372	$ 9,372
Foreign currency translation adjustment	425		425
Net income	34,907			34,907
Balance at Jun. 30, 2025	318,101	$ 725,655	98	(407,652)
Balance, Shares at Jun. 30, 2025		34,039,710
Balance at Dec. 31, 2025	473,100	$ 750,926	124	(277,950)
Balance, Shares at Dec. 31, 2025		34,267,802
Issuance of common stock upon the exercise of common stock options	2,212	$ 2,212
Issuance of common stock upon the exercise of common stock options, Shares		59,661
Issuance of common stock in connection with employee stock purchase plan	1,688	$ 1,688
Issuance of common stock in connection with employee stock purchase plan, Shares		16,321
Net issuance of common stock upon vesting of restricted stock units, Shares		201,937
Net issuance of common stock upon vesting of restricted stock units	(138)	$ (138)
Stock-based compensation expense	9,952	9,952
Foreign currency translation adjustment	(122)		(122)
Net income	7,315			7,315
Balance at Mar. 31, 2026	494,007	$ 764,640	2	(270,635)
Balance, Shares at Mar. 31, 2026		34,545,721
Balance at Dec. 31, 2025	473,100	$ 750,926	124	(277,950)
Balance, Shares at Dec. 31, 2025		34,267,802
Foreign currency translation adjustment	(334)
Net income	21,997
Balance at Jun. 30, 2026	518,053	$ 774,216	(210)	(255,953)
Balance, Shares at Jun. 30, 2026		34,629,682
Balance at Mar. 31, 2026	494,007	$ 764,640	2	(270,635)
Balance, Shares at Mar. 31, 2026		34,545,721
Issuance of common stock upon the exercise of common stock options	1,009	$ 1,009
Issuance of common stock upon the exercise of common stock options, Shares		54,102
Net issuance of common stock upon vesting of restricted stock units, Shares		30,245
Net issuance of common stock upon vesting of restricted stock units	(39)	$ (39)
Restricted common stock forfeitures, Shares		(386)
Stock-based compensation expense	8,606	$ 8,606
Foreign currency translation adjustment	(212)		(212)
Net income	14,682			14,682
Balance at Jun. 30, 2026	$ 518,053	$ 774,216	$ (210)	$ (255,953)
Balance, Shares at Jun. 30, 2026		34,629,682

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	25,000,000	25,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	34,629,682	34,267,802
Common Stock, Shares, Outstanding	34,629,682	34,267,802

Accrued Expenses and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2026

Accrued Expenses And Other Current Liabilities [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Accrued payroll and related expenses	$	20,222	$	28,443
Accrued transportation costs		2,500		2,700
Accrued clinical trials expenses		6,983		5,865
Accrued external research and development expenses		4,697		3,104
Accrued property, plant and equipment		2,365		928
Accrued professional fees		5,921		3,378
Accrued third-party surgeon costs		4,809		3,996
Accrued other		11,101		14,326
	$	58,598	$	62,740

Property, Plant and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net consisted of the following (in thousands):


	June 30,			December 31,
	2026			2025
Transplant aircraft	$	295,563		$	295,527
Transplant aircraft equipment		3,100			3,100
Flight school aircraft		3,730			3,717
OCS Consoles		28,706			24,590
Manufacturing equipment		14,589			12,101
Computer equipment and software		3,392			3,376
Internal-use software		16,221			12,413
Laboratory equipment		4,359			3,698
Office, trade show and training equipment		5,400			5,260
Building		20,352			—
Leasehold improvements		25,834			25,113
Construction-in-progress		9,755			2,174
Land		16,262			2,652
		447,263			393,721
Less: Accumulated depreciation and amortization		(81,961	)		(66,065	)
	$	365,302		$	327,656

Net Income per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Net Income per Share

9. Net Income per Share

Basic net income per common share is computed by dividing the net income by the weighted average number of shares of common stock outstanding for the period. Diluted net income per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period, including potential dilutive common shares assuming the dilutive effect of outstanding stock awards, using the treasury stock method, and outstanding convertible notes, using the if-converted method.

A reconciliation of the numerators and the denominators of the basic and dilutive net income per common share computations are as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net income	$	14,682	$	34,907	$	21,997	$	60,589
Add: Interest expense, net of tax, attributable to assumed conversion of convertible senior notes		1,835		2,354		—		4,699
Net income, diluted	$	16,517	$	37,261	$	21,997	$	65,288

Denominator:
Weighted average basic common shares outstanding		34,579,980		33,912,669		34,482,634		33,817,664
Effect of dilutive securities:
Convertible senior notes		4,893,805		4,893,805		—		4,893,805
Options to purchase common stock		1,127,400		1,489,855		1,310,695		1,346,155
Restricted stock units		97,012		246,718		201,577		172,880
Restricted stock awards		497		626		506		315
Employee stock purchase plan		10,533		15,280		8,265		7,682
Weighted average dilutive common shares outstanding		40,709,227		40,558,953		36,003,677		40,238,501
Net income per share:
Basic	$	0.42	$	1.03	$	0.64	$	1.79
Diluted	$	0.41	$	0.92	$	0.61	$	1.62


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Convertible senior notes		—		—		4,893,805		—
Options to purchase common stock		693,183		609,891		413,619		754,178
Employee stock purchase plan		—		—		—		18,900
Restricted stock units		65,384		17,700		38,801		92,034
Restricted stock awards		—		—		—		2,053
		758,567		627,591		5,346,225		867,165

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Acquired Intangible Assets

Acquired intangible assets consisted of the following as of December 31, 2025 (in thousands):


			December 31, 2025
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization		Carrying Value
	(in years)
Customer relationship		12	$	2,320	$	460	$	1,860
Other		12		110		22		88
			$	2,430	$	482	$	1,948

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 14,682	$ 34,907	$ 21,997	$ 60,589
Other comprehensive income (loss):
Foreign currency translation adjustment	(212)	425	(334)	462
Comprehensive income	$ 14,470	$ 35,332	$ 21,663	$ 61,051

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Revenue and Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Net Revenue by Organ and Country


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
OCS transplant revenue by country by organ(1)(2):
United States
Lung total revenue	$	2,253	$	4,154	$	4,450	$	7,790
Heart total revenue		33,381		32,171		59,238		58,437
Liver total revenue		147,989		115,862		286,959		224,577
Total United States OCS transplant revenue		183,623		152,187		350,647		290,804
All other countries
Lung revenue		409		421		1,036		796
Heart revenue		4,587		3,495		9,598		7,045
Liver revenue		245		244		255		384
Total all other countries OCS transplant revenue		5,241		4,160		10,889		8,225
Total OCS transplant revenue	$	188,864	$	156,347	$	361,536	$	299,029

(1)

Revenue by country is categorized based on the location of the end customer. Total OCS transplant revenue includes product and service revenue.

(2)

Summary of Significant Segment Expenses

Significant segment expenses, as provided to the CODM, are presented below (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Total revenue	$	189,948	$	157,370	$	363,881	$	300,907
Less:
Cost of net product revenue		25,566		19,421		49,874		35,733
Cost of service revenue		51,184		41,360		99,648		80,357
Research, development and clinical trials:
Personnel related (including stock-based compensation expense)		7,754		5,964		16,162		12,216
Laboratory supplies and research materials		6,218		5,206		10,359		10,162
Consulting and third-party services		12,866		2,302		21,275		6,475
Clinical trials costs		1,615		267		2,320		348
Facility and IT related and other		3,179		2,195		6,395		3,893
Selling, general and administrative:
Personnel related (including stock-based compensation expense)		30,931		27,307		65,037		54,978
Professional and consultant fees		8,263		5,696		17,525		13,254
NOP support		1,923		1,932		3,503		4,338
Tradeshows and conferences		1,721		1,549		2,990		1,975
Facility and IT related and other		8,648		5,960		16,440		10,282
Depreciation and amortization expense		4,289		1,644		10,351		2,886
Transaction-related costs		1,745		—		4,452		—
Headquarters relocation costs		65		—		272		—
ERP implementation costs		245		—		245		—
Other segment items(1)		9,054		1,660		15,036		3,421
Net income	$	14,682	$	34,907	$	21,997	$	60,589

(1)

Revenue and Segment Information - Summary of Significant Segment Expenses (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Mar. 31, 2026

Jun. 30, 2025

Mar. 31, 2025

Jun. 30, 2026

Jun. 30, 2025

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Total revenue

$ 189,948

$ 157,370

$ 363,881

$ 300,907

Total cost of revenue

76,750

60,781

149,522

116,090

Research, development and clinical trials:

Research, development and clinical trials

31,632

15,934

56,511

33,094

Selling, general and administrative:

Selling, general and administrative

57,830

44,088

120,815

87,713

Other segment items

^[1]

9,054

1,660

15,036

3,421

Net income

14,682

$ 7,315

34,907

$ 25,682

21,997

60,589

Cost of net product revenue

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Total revenue

111,158

96,100

219,130

184,334

Total cost of revenue

25,566

19,421

49,874

35,733

Cost of service revenue

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Total revenue

78,790

61,270

144,751

116,573

Total cost of revenue

51,184

41,360

99,648

80,357

Research, development and clinical trials:

Research, development and clinical trials

7,754

5,964

16,162

12,216

Selling, general and administrative:

Selling, general and administrative

30,931

27,307

65,037

54,978

Laboratory supplies and research materials

Research, development and clinical trials:

Research, development and clinical trials

6,218

5,206

10,359

10,162

Consulting and third-party services

Research, development and clinical trials:

Research, development and clinical trials

12,866

2,302

21,275

6,475

Clinical trials costs

Research, development and clinical trials:

Research, development and clinical trials

1,615

267

2,320

348

Professional and consultant fees

Selling, general and administrative:

Selling, general and administrative

8,263

5,696

17,525

13,254

NOP support

Selling, general and administrative:

Selling, general and administrative

1,923

1,932

3,503

4,338

Tradeshows and conferences

Selling, general and administrative:

Selling, general and administrative

1,721

1,549

2,990

1,975

Facility and IT related and other

Research, development and clinical trials:

Research, development and clinical trials

3,179

2,195

6,395

3,893

Selling, general and administrative:

Selling, general and administrative

8,648

5,960

16,440

10,282

Depreciation and amortization expense

Selling, general and administrative:

Selling, general and administrative

4,289

$ 1,644

10,351

$ 2,886

Transaction-related costs

Selling, general and administrative:

Selling, general and administrative

1,745

4,452

Headquarters relocation costs

Selling, general and administrative:

Selling, general and administrative

272

ERP implementation costs

Selling, general and administrative:

Selling, general and administrative

$ 245

[1]	Other segment items include interest income, interest expense, foreign currency exchange gains and losses and income taxes. See the condensed consolidated financial statements for other financial information regarding the Company’s operating segment.

Related Party Transactions

6 Months Ended

Jun. 30, 2026

Related Party Transactions

12. Related Party Transactions

Employment of Dr. Amira Hassanein

Dr. Amira Hassanein, who serves as Product Director for the Company’s OCS Lung program, is the sister of Dr. Waleed Hassanein, the Company’s President and Chief Executive Officer and a member of the Company’s board of directors. The Company paid Dr. Amira Hassanein $0.3 million and $0.6 million in total compensation for the three and six months ended June 30, 2026, respectively, for her services as an employee. The Company paid Dr. Amira Hassanein $0.1 million and $0.5 million in total compensation for the three and six months ended June 30, 2025, respectively, for her services as an employee.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 2
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details