10-Q Filing

TRANSMEDICS GROUP, INC. CIK: 1756262 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001193125-19-171334`
Period End Date	20190331
Filing Date	20190612
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	tmdx-20190330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 58 Stockholders Equity 17 Comprehensive Income 9

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.24M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.44M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$5.15M	USD	Point-in-time
Inventory	`InventoryNet`	$11.29M	USD	Point-in-time
Inventory	`InventoryNet`	$9.28M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.84M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.40M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.79M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	1.40M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	1.43M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.75M	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$4.44M	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$3.38M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	1.40M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	1.43M	shares	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$500.00K	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$500.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$6.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$6.00K	USD	Point-in-time
Total assets	`Assets`	$38.76M	USD	Point-in-time
Total assets	`Assets`	$42.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.72M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$7.18M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$9.99M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$306.00K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$359.00K	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	$354.00K	USD	Point-in-time
Current portion of deferred rent	`DeferredRentCreditCurrent`	$349.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.20M	USD	Point-in-time
Preferred stock warrant liability	`PreferredStockWarrantsAndRightsOutstanding`	$898.00K	USD	Point-in-time
Preferred stock warrant liability	`PreferredStockWarrantsAndRightsOutstanding`	$625.00K	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$33.78M	USD	Point-in-time
Long-term debt, net of discount	`LongTermDebtNoncurrent`	$33.67M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$667.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$759.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$51.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$47.88M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible preferred stock (Series A-1, B, B-1, C, D, E and F), $0.0001 par value; 50,776,054 shares authorized at March 30, 2019 and December 29, 2018; 50,404,140 shares issued and outstanding at March 30, 2019 and December 29, 2018; aggregate liquidation preference of $223,681 at March 30, 2019	`TemporaryEquityCarryingAmountAttributableToParent`	$186.52M	USD	Point-in-time
Convertible preferred stock (Series A-1, B, B-1, C, D, E and F), $0.0001 par value; 50,776,054 shares authorized at March 30, 2019 and December 29, 2018; 50,404,140 shares issued and outstanding at March 30, 2019 and December 29, 2018; aggregate liquidation preference of $223,681 at March 30, 2019	`TemporaryEquityCarryingAmountAttributableToParent`	$186.52M	USD	Point-in-time
Common stock, $0.0001 par value; 60,000,000 shares authorized at March 30, 2019 and December 29, 2018; 1,426,980 shares issued and 1,426,673 shares outstanding at March 30, 2019; 1,397,800 shares issued and 1,397,493 shares outstanding at December 29, 2018	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.0001 par value; 60,000,000 shares authorized at March 30, 2019 and December 29, 2018; 1,426,980 shares issued and 1,426,673 shares outstanding at March 30, 2019; 1,397,800 shares issued and 1,397,493 shares outstanding at December 29, 2018	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$143.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$143.86M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-101.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-67.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-342.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-335.94M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-173.59M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-192.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-199.04M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-168.72M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$42.16M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$38.76M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`Revenues`	$4.68M	USD	1 Quarter
Net revenue	`Revenues`	$2.52M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$1.59M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$2.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$924.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.57M	USD	1 Quarter
Research, development and clinical trials	`ResearchAndDevelopmentExpense`	$3.88M	USD	1 Quarter
Research, development and clinical trials	`ResearchAndDevelopmentExpense`	$3.46M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.71M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.54M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.78M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.96M	USD	1 Quarter
Interest expense	`InterestExpense`	$258.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.09M	USD	1 Quarter
Change in fair value of preferred stock warrant liability	`FairValueAdjustmentOfWarrants`	$-273.00K	USD	1 Quarter
Change in fair value of preferred stock warrant liability	`FairValueAdjustmentOfWarrants`	$30.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$175.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-103.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-113.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-923.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.88M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.89M	USD	1 Quarter
Provision for income taxes	`CurrentIncomeTaxExpenseBenefit`	$7.00K	USD	1 Quarter
Provision for income taxes	`CurrentIncomeTaxExpenseBenefit`	$10.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.90M	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-4.86	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-3.61	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.42M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.36M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-4.90M	USD	1 Quarter
Net loss	`ProfitLoss`	$23.80M	USD	Annual
Net loss	`ProfitLoss`	$-6.89M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$166.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$245.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$57.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$27.00K	USD	1 Quarter
Change in fair value of preferred stock warrant liability	`FairValueAdjustmentOfWarrants`	$-273.00K	USD	1 Quarter
Change in fair value of preferred stock warrant liability	`FairValueAdjustmentOfWarrants`	$30.00K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$60.00K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$115.00K	USD	1 Quarter
Net amortization of premiums on marketable securities	`AmortizationOfDebtDiscountPremium`	$9.00K	USD	1 Quarter
Unrealized foreign currency transaction (gains) losses	`ForeignCurrencyTransactionGainLossUnrealized`	$143.00K	USD	1 Quarter
Unrealized foreign currency transaction (gains) losses	`ForeignCurrencyTransactionGainLossUnrealized`	$-160.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.02M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.75M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.18M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.47M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$143.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-417.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$758.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-843.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.69M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.39M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$57.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-4.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$87.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredCharges`	$82.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.33M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.27M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Proceeds from sales and maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$5.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.96M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$892.00K	USD	1 Quarter
Payments of initial public offering costs	`PaymentsOfStockIssuanceCosts`	$705.00K	USD	1 Quarter
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$8.00K	USD	1 Quarter
Proceeds from issuance of common stock upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$12.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-697.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-880.00K	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-60.00K	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$114.00K	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.14M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.03M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.74M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.71M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.74M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.71M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.44M	USD	Point-in-time
Transfers of inventory to property and equipment	`InventoryTransferToPropertyPlantAndEquipment`	$342.00K	USD	1 Quarter
Transfers of inventory to property and equipment	`InventoryTransferToPropertyPlantAndEquipment`	$407.00K	USD	1 Quarter
Purchases of property and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$4.00K	USD	1 Quarter
Purchases of property and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$129.00K	USD	1 Quarter
Deferred offering costs included in accounts payable and accrued expenses	`DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpenses`	$1.13M	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-173.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$-192.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-199.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$-168.72M	USD	Point-in-time
Issuance of common stock upon the exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$12.00K	USD	1 Quarter
Issuance of common stock upon the exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$8.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$57.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$27.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$34.00K	USD	1 Quarter
Unrealized gains on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.90M	USD	1 Quarter
Balance	`StockholdersEquity`	$-173.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$-192.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-199.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$-168.72M	USD	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.90M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-6.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$34.00K	USD	1 Quarter
Unrealized gains on marketable securities, net of tax of $0	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-2.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$34.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.90M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.86M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.