ANDOVER, Mass. , Oct. 28, 2024 /PRNewswire/ -- TransMedics Group, Inc.
("TransMedics") (Nasdaq: TMDX ), a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure, today reported financial results for the quarter ended September 30, 2024 . Recent Highlights Total revenue of $108.8 million in the third quarter of 2024, a 64% increase compared to the third quarter of 2023 Generated net income of $4.
2 million or $0.12 per diluted share in the third quarter of 2024 Owned 18 total aircraft as of September 30, 2024 "We are proud of our performance year to date and look forward to ending 2024 on a strong note," said Waleed Hassanein , MD, President and Chief Executive Officer. "We continued to make meaningful progress across each of our growth initiatives through the third quarter and maintain our conviction in our growth runway for 2025 and beyond.
Overall, we remain well on track to reach our stated target of achieving 10,000 OCS transplant cases per year in the U.S. by 2028.
" Third Quarter 2024 Financial Results Total revenue for the third quarter of 2024 was $108 .8 million, a 64% increase compared to $66 .4 million in the third quarter of 2023.
The increase was driven primarily by the increase in utilization of the Organ Care System ("OCSTM") across all three organs through the National OCS Program ("NOPTM") as well as additional revenue generated by TransMedics logistics services. Gross margin for the t.