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TransMedics . Bringing new life to organ transplant TransMedics Reports Second Quarter 2021 Financial Results August 5 , 2021 ANDOVER , Mass . , Aug. 5 , 2021 / 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 June 30 , 2021 . m TransMedics . Bringing new life to organ transplant Recent Highlights • Net revenue of $ 8.2 million in the second quarter of 2021 , representing a 141 % increase compared to the second quarter of 2020 • Announced positive FDA advisory committee vote for OCS Liver System • Received FDA 510 ( k ) clearance of the OCS Lung Solution for use in lung transplants using cold storage techniques • OCS Liver PROTECT Trial results presented and recognized as the winner of The People's Choice Award for Most Impactful Presentation at the American Transplant Congress " Over the last several months we achieved significant milestones towards having our three OCS products FDA - approved and commercially available in the US before year end , " said Waleed Hassanein , MD , President and Chief Executive Officer . " We remain confident in our long - term outlook and in our unique ability to transform organ transplantation globally . " Second Quarter 2021 Financial Results Net revenue for the second quarter of 2021 was $ 8.2 million , a 141 % increase compared to $ 3.4 million in the second quarter of 2020. The increase was predominantly a result of stronger sales of OCS Lung and Heart disposable sets in the United States and internationally as transplants recovered from the COVID - 19 impacted second quarter of 2020 . Gross margin for the second quarter of 2021 was 68 % as compared to 56 % in the second quarter of 2020 . Operating expenses for the second quarter of 2021 were $ 15.5 million compared to $ 9.8 million in the second quarter of 2020. The increase in operating expense was driven by increased investment in our National OCS Program , stock compensation expense , and expenses associated with preparing for two FDA advisory committee panels . Net loss for the second quarter of 2021 was $ 10.7 million compared to $ 8.5 million in the second quarter of 2020 . Cash , cash equivalents and marketable securities were $ 112.2 million as of June 30 , 2021 . Webcast and Conference Call Details The TransMedics management team will host a conference call beginning at 4:30 p.m. ET / 1:30 p.m. PT on Thursday , August 5 , 2021. Investors interested in listening to the conference call may do so by dialing ( 833 ) 378-1026 for domestic callers or ( 236 ) 712-2500 for international callers , followed by Conference ID : 9861546. A live and archived webcast of the event will be available on the " Investors " section of the TransMedics website at www.transmedics.com . About TransMedics Group , Inc. TransMedics is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation . Headquartered in Andover , Massachusetts , the company was founded to address the unmet need for more and better organs for transplantation and has developed technologies to preserve organ quality , assess organ viability prior to transplant , and potentially increase the utilization of donor organs for the treatment of end - stage heart , lung , and liver failure . Forward - Looking Statements This press release contains forward - looking statements with respect to , among other things , our operations and financial performance and expected timing of regulatory approvals for our OCS products . These forward - looking statements are subject to a number of risks , uncertainties and assumptions . Moreover , we operate in a very competitive and rapidly changing environment and new risks emerge from time to time . It is not possible for our management to predict all risks , nor can we assess the impact of all factors on our business or the extent to which any factor , or combination of factors , may cause actual results to differ materially from those contained in or implied by any forward - looking statements we may make . In light of