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Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 12,194	$ 12,197	$ (1,001)	$ (2,636)	$ 24,391	$ (3,637)

- Definition

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

+ References

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+ Details

Long-term Debt and Financing Arrangements

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

8. Long-Term Debt and Financing Arrangements

Convertible Senior Notes

The Notes consisted of the following (in thousands):


	June 30, 2024			December 31, 2023
Principal amount of convertible senior notes	$	460,000		$	460,000
Less: Current portion of convertible senior notes		—			—
Convertible senior notes, net of current portion		460,000			460,000
Debt discount, net of accretion		(11,466	)		(12,860	)
Convertible senior notes, net of discount and current portion	$	448,534		$	447,140

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, the noteholder 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 will not be redeemable. On or 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, 2024, the Company recognized $2.4 million and $4.8 million, respectively, in interest expense related to the 1.50% cash coupon of the Notes and amortization of the debt issuance costs. During the three and six months ended June 30, 2024, the effective interest rate on the outstanding Notes was approximately 2.1%. As of June 30, 2024, the estimated fair value of the Notes was $788.9 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.

A conditional conversion feature of the Notes was triggered on June 30, 2024, as the last reported sale price of the Company's common stock was greater than or equal to 130% of the conversion price of the Notes for at least 20 trading days during the period of 30 consecutive trading days ending on and including the last trading day of the quarter ended June 30, 2024, and the Notes therefore became convertible at the noteholders’ election in the calendar quarter ended September 30, 2024 (and only during this calendar quarter). If this condition or another conversion condition is met in the future, the Notes may again become convertible, otherwise the Notes will be convertible at the noteholders’ election from March 1, 2028 through the close of business on the second scheduled trading day immediately before the maturity date.

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 in the accompanying 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, 2024			December 31, 2023
Principal amount of long-term debt	$	60,000		$	60,000
Less: Current portion of long-term debt		—			—
Long-term debt, net of current portion		60,000			60,000
Debt discount, net of accretion		(783	)		(936	)
Long-term debt, net of discount and current portion	$	59,217		$	59,064

In July 2022, the Company entered into a credit agreement with Canadian Imperial Bank of Commerce (“CIBC”), as amended by the First Amendment to Credit Agreement, dated as of May 8, 2023, by and among the Company and CIBC (the “First Amendment”), the Second Amendment to Credit Agreement, dated as of June 23, 2023, by and among the Company and CIBC (the “Second Amendment”) and the Third Amendment to Credit Agreement, dated as of November 9, 2023, by and among the Company and CIBC (the “Third Amendment”) (as amended, the “CIBC Credit Agreement”), pursuant to which the Company borrowed $60.0 million.

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%. At the Company’s option, the Company may prepay borrowings outstanding under the CIBC Credit Agreement, subject to a prepayment fee of 1.0% if paid on or after 12 months after the closing date but prior to 24 months after the closing date.

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, 2024, 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, 2024, the Company recognized $1.2 million and $2.4 million, respectively, in interest expense related to the CIBC borrowings. During the three and six months ended June 30, 2023, the Company recognized $1.2 million and $2.3 million, respectively, in interest expense related to the CIBC borrowings. During the three and six months ended June 30, 2024, the weighted average effective interest rate on outstanding borrowings under the CIBC Credit Agreement was approximately 7.9% and 7.8%, respectively. As of June 30, 2024, the stated interest rate applicable to borrowings under the CIBC Credit Agreement was 7.3%.

Revenue - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Research development and clinical trials expenses	$ 1.2	$ 0.5	$ 2.7	$ 0.8
Customer Concentration Risk \| Revenue Benchmark \| Minimum [Member] \| Significant Customer Benchmark [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%	10.00%
Customer Concentration Risk \| Accounts Receivable \| Minimum [Member] \| Significant Customer Benchmark [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage			10.00%		10.00%

- 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

Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense			$ 8,901	$ 2,679
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 4,500	$ 1,400	8,800	$ 2,700
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Capitalized costs for development of internal use software	$ 500		$ 500
Leasehold Improvements [Member] \| Aircraft Hangar [Member] \| Useful Life, Lease Term [Member]
Property, Plant and Equipment [Line Items]
Remaining lease term	28 years 6 months		28 years 6 months

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 362,751	$ 394,812
Accounts receivable	81,158	63,576
Inventory	48,671	44,235
Prepaid expenses and other current assets	16,685	8,031
Total current assets	509,265	510,654
Property, plant and equipment, net	229,030	173,941
Operating lease right-of-use assets	5,896	6,546
Restricted cash	500	500
Goodwill	11,549	11,990
Acquired intangible assets, net	2,253	2,354
Other non-current assets	84	62
Total assets	758,577	706,047
Current liabilities:
Accounts payable	13,027	12,717
Accrued expenses and other current liabilities	37,716	38,221
Deferred revenue	1,447	1,961
Operating lease liabilities	2,139	2,035
Total current liabilities	54,329	54,934
Convertible senior notes, net	448,534	447,140
Long-term debt, net	59,217	59,064
Operating lease liabilities, net of current portion	6,603	7,707
Total liabilities	568,683	568,845
Commitments and contingencies (Note 11)
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; 33,314,281 shares and 32,670,803 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	669,445	641,106
Accumulated other comprehensive loss	(237)	(199)
Accumulated deficit	(479,314)	(503,705)
Total stockholders' equity	189,894	137,202
Total liabilities and stockholders' equity	$ 758,577	$ 706,047

Net Income (Loss) per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) per Share

10. Net Income (Loss) per Share

Basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) 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 (loss) 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,
	2024		2023			2024		2023
Numerator:
Net income (loss)	$	12,194	$	(1,001	)	$	24,391	$	(3,637	)

Denominator:
Weighted average basic common shares outstanding		33,119,514		32,545,352			32,939,852		32,403,597
Effect of dilutive securities:
Options to purchase common stock		1,938,145		—			1,855,745		—
Restricted stock units		214,037		—			170,417		—
Warrants to purchase common stock		2,576		—			6,978		—
Restricted stock awards		5,497		—			6,341		—
Employee stock purchase plan		8,539		—			4,270		—
Weighted average dilutive common shares outstanding		35,288,308		32,545,352			34,983,603		32,403,597
Net income (loss) per share:
Basic	$	0.37	$	(0.03	)	$	0.74	$	(0.11	)
Diluted	$	0.35	$	(0.03	)	$	0.70	$	(0.11	)

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Convertible senior notes		4,893,848		2,742,706		4,893,848		1,371,353
Options to purchase common stock		360,228		3,181,139		468,916		3,237,054
Employee stock purchase plan		—		11,759		12,207		12,390
Restricted stock units		9,522		198,525		5,439		139,909
Restricted stock awards		—		17,058		—		20,687
Warrants to purchase common stock		—		14,440		—		14,440
		5,263,598		6,165,627		5,380,410		4,795,833

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
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

Revenue

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

12. Revenue

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,
	2024		2023		2024		2023
OCS transplant revenue by country by organ(1)(2):
United States
Lung total revenue	$	4,243	$	2,817	$	8,949	$	4,248
Heart total revenue		27,173		13,456		47,397		26,412
Liver total revenue		77,039		32,674		143,965		55,788
Total United States OCS transplant revenue		108,455		48,947		200,311		86,448
All other countries
Lung revenue		448		403		1,408		654
Heart revenue		4,268		3,108		7,399		6,910
Liver revenue		—		7		—		7
Total all other countries OCS transplant revenue		4,716		3,518		8,807		7,571
Total OCS transplant revenue	$	113,171	$	52,465	$	209,118	$	94,019

(1)

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

(2)

Service revenue unrelated to OCS transplant, which was $1.1 million and $2.0 for the three and six months ended June 30, 2024, respectively, and none for the three and six months ended June 30, 2023, is not included in this table.

Significant Customers

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, 2024 and 2023, no customer accounted for more than 10% of revenue. As of June 30, 2024 and December 31, 2023, no customer accounted for more than 10% of accounts receivable.

Payments to Customers

In connection with its clinical trials, the Company makes payments to customers for reimbursement of clinical trial materials and customer’s costs incurred to execute specific clinical trial protocols related to the Company’s OCS products, which are recorded as a reduction of revenue. For each of the three and six months ended June 30, 2024 and 2023, the net impact of adjustments to revenue for such payments were insignificant.

The Company also makes payments to customers to obtain information related to post-approval studies or existing standard-of-care protocols unrelated to the Company's OCS products and records such payments as operating expenses. For the three and six months ended June 30, 2024, the Company recorded $1.2 million and $2.7 million, respectively, of operating expense related to these costs. For the three and six months ended June 30, 2023, the Company recorded $0.5 million and $0.8 million, respectively, of operating expense related to these payments.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 24,391	$ (3,637)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization expense	8,901	2,679
Stock-based compensation expense	14,513	8,879
Non-cash interest expense and end of term accretion expense	1,547	593
Non-cash lease expense	650	423
Unrealized foreign currency transaction (gains) losses	200	(150)
Changes in operating assets and liabilities:
Accounts receivable	(17,650)	(19,862)
Inventory	(7,932)	(10,977)
Prepaid expenses and other current assets	(3,217)	515
Other non-current assets	(24)	(54)
Accounts payable	1,778	3,673
Accrued expenses and other current liabilities	630	4,196
Deferred revenue	(504)
Operating lease liabilities	(1,000)	(742)
Net cash provided by (used in) operating activities	22,283	(14,464)
Cash flows from investing activities:
Purchases of property, plant and equipment	(67,935)	(2,307)
Net cash used in investing activities	(67,935)	(2,307)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $14,620		445,380
Purchases of capped calls related to convertible senior notes		(52,072)
Proceeds from issuance of common stock upon exercise of stock options	13,188	4,279
Proceeds from issuance of common stock in connection with employee stock purchase plan	638	384
Net cash provided by financing activities	13,826	397,971
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(235)	78
Net increase (decrease) in cash, cash equivalents and restricted cash	(32,061)	381,278
Cash, cash equivalents and restricted cash, beginning of period	395,312	201,682
Cash, cash equivalents and restricted cash, end of period	363,251	582,960
Supplemental disclosure of non-cash activities:
Transfers of inventory to property, plant and equipment	3,381	1,091
Purchases of property, plant and equipment included in accounts payable and accrued expenses	1,540	71
Operating lease liabilities arising from obtaining right-of-use assets		2,222
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	362,751	582,210
Restricted cash	500	750
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 363,251	$ 582,960

Net Income (Loss) per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	5,263,598	6,165,627	5,380,410	4,795,833
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	4,893,848	2,742,706	4,893,848	1,371,353
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	360,228	3,181,139	468,916	3,237,054
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		11,759	12,207	12,390
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	9,522	198,525	5,439	139,909
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		17,058		20,687
Warrants 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		14,440		14,440

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

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 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, 2023 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, 2024 and results of operations for the three and six months ended June 30, 2024 and 2023 and cash flows for the six months ended June 30, 2024 and 2023 have been made. The Company’s results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2024.

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 consolidated financial statements include, but are not limited to, revenue recognition, the valuation of inventory, the valuation of assets acquired and liabilities assumed in business combinations, including acquired intangible assets and the resulting goodwill, and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. As of the date of issuance of these unaudited consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. Actual results may differ from those estimates or assumptions.

Risk of Concentrations of Credit 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, 2024 and December 31, 2023, the Company had no allowance for credit losses.

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 consolidated balance sheets, and the fair value of the Notes is presented at each reporting period for disclosure purposes only (see Note 8).

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, 2024, spare parts inventory of $0.7 million is included within prepaid expenses and other current assets on the accompanying consolidated balance sheets. The Company had no spare parts inventory as of December 31, 2023. 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, 2024 and December 31, 2023, the Company had no allowance for spare parts excess and obsolescence.

Segment Information

The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company has developed and is commercializing a proprietary system to preserve and deliver human organs for transplant in a near-physiologic condition to address the limitations of cold storage organ preservation. 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, in deciding how to allocate resources and assess performance. The Company has determined that its chief operating decision maker is its Chief Executive Officer. The Company’s chief operating decision maker reviews the Company’s financial information on a consolidated basis for purposes of allocating resources and assessing financial performance.

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 consolidated statements of operations as a component of other income (expense). Realized and unrealized losses totaled $0.2 million and $0.4 million for the three and six months ended June 30, 2024, respectively. Realized and unrealized gains totaled less than $0.1 million for the three months ended June 30, 2023 and $0.1 million for the six months ended June 30, 2023.

Recently issued accounting pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently assessing the impact of the adoption of this guidance.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in their tax rate reconciliations, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently assessing the impact of the adoption of this guidance.

Subsequent Events - Additional Information (Details) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Jul. 30, 2024 USD ($) Aircraft
Subsequent Event [Line Items]
Number of fixed wing aircraft acquired \| Aircraft	2
Purchase price of fixed wing aircrafts \| $	$ 28.0

Long-term Debt and Financing Arrangements - Schedule of Long-term Debt Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, net of discount and current portion	$ 59,217	$ 59,064
Term Loan [Member]
Debt Instrument [Line Items]
Principal amount	60,000	60,000
Net of current portion	60,000	60,000
Debt discount, net of accretion	(783)	(936)
Long-term debt, net of discount and current portion	$ 59,217	$ 59,064

- 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

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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
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Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
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-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

+ Details

Inventory

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventory

4. Inventory

Inventory consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Raw materials	$	27,506	$	25,823
Work-in-process		4,053		3,806
Finished goods		17,112		14,606
	$	48,671	$	44,235

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
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		33,359,363
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

Long-term Debt and Financing Arrangements - Schedule of Notes (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Convertible senior notes, net of discount and current portion	$ 448,534	$ 447,140
Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount	460,000	460,000
Net of current portion	460,000	460,000
Debt discount, net of accretion	$ (11,466)	$ (12,860)

- 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

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Allocated Share-based Compensation Expense	$ 7,643	$ 4,958	$ 14,513	$ 8,879
Cost of revenue [Member]
Allocated Share-based Compensation Expense	376	80	740	129
Research, development and clinical trials expenses [Member]
Allocated Share-based Compensation Expense	1,123	714	2,001	1,232
Selling, general and administrative expenses [Member]
Allocated Share-based Compensation Expense	$ 6,144	$ 4,164	$ 11,772	$ 7,518

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 12,194	$ (1,001)	$ 24,391	$ (3,637)
Other comprehensive income (loss):
Foreign currency translation adjustment	(55)	(2)	(38)	5
Total other comprehensive income (loss)	(55)	(2)	(38)	5
Comprehensive income (loss)	$ 12,139	$ (1,003)	$ 24,353	$ (3,632)

- 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

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 220
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

+ Details

Acquisition of Summit (Tables)

6 Months Ended

Jun. 30, 2024

Business Combinations [Abstract]

Summary of Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price (in thousands):


Assets Acquired and Liabilities Assumed:
Accounts receivable	$	2,089
Other current assets		1,040
Property, plant and equipment		5,922
Right-of-use asset		288
Intangible assets		2,430
Goodwill		11,549
Total assets acquired		23,318
Accounts payable and other current liabilities		(6,917	)
Deferred tax liabilities		(1,660	)
Operating lease liabilities		(288	)
Total allocation of purchase price consideration, net of cash acquired	$	14,453

Stock-Based Compensation

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Stock-Based Compensation

9. Stock-Based Compensation

2019 Stock Incentive Plan

The Company’s 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, 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, 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 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 25, 2023, the shareholders of the Company approved the Amended and Restated TransMedics Group, Inc. 2019 Stock Incentive Plan (the “Amended Plan”) to among other things, (i) increase the number of shares of the Company’s common stock available for issuance thereunder by 1,000,000 shares, (ii) prohibit the payment of dividend or dividend equivalents on a current basis with respect to unvested awards, (iii) extend the expiration date of the Amended Plan until June 1, 2033 and (iv) increase the annual limits on non-employee director compensation. As of June 30, 2024, 910,146 shares of common stock were available for issuance under the Amended 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 the Company’s common stock were initially reserved for issuance under the 2019 ESPP. During the six months ended June 30, 2024, 9,506 shares of common stock were issued under the 2019 ESPP and as of June 30, 2024, 255,053 shares of common stock remained available for issuance.

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, restricted stock unit awards 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. On November 2, 2023, the Company's Board of Directors approved an increase of 500,000 to shares available under the Inducement Plan. As of June 30, 2024, 546,455 shares of common stock remained available for issuance under the Inducement Plan.

Stock Option Activity

During the six months ended June 30, 2024, the Company granted options under the 2019 Plan and the Inducement Plan with service-based vesting for the purchase of an aggregate of 343,316 shares of common stock with a weighted average grant-date fair value of $55.01 per share.

Restricted Stock Unit Activity

During the six months ended June 30, 2024, the Company granted 229,891 restricted stock units under the 2019 Plan and the Inducement Plan with service-based vesting conditions and a weighted-average grant-date fair value of $88.27 per share.

Stock-Based Compensation

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenue	$	376	$	80	$	740	$	129
Research, development and clinical trials expenses		1,123		714		2,001		1,232
Selling, general and administrative expenses		6,144		4,164		11,772		7,518
	$	7,643	$	4,958	$	14,513	$	8,879

As of June 30, 2024, total unrecognized compensation cost related to unvested share-based awards was $70.8 million, which is expected to be recognized over a weighted average period of 2.4 years.

Accrued Expenses and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024		December 31, 2023
Accrued payroll and related expenses	$	20,178	$	20,300
Accrued transportation costs		4,311		4,381
Accrued research, development and clinical trials expenses		2,852		1,771
Accrued other		10,375		11,769
	$	37,716	$	38,221

Inventory (Tables)

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory consisted of the following (in thousands):


	June 30, 2024		December 31, 2023
Raw materials	$	27,506	$	25,823
Work-in-process		4,053		3,806
Finished goods		17,112		14,606
	$	48,671	$	44,235

Acquisition of Summit - Additional Information (Detail) - USD ($)		3 Months Ended
	Aug. 16, 2023	Jun. 30, 2024	Sep. 30, 2023	Mar. 31, 2023
Business Acquisition [Line Items]
Goodwill adjustments				$ 300,000
Summit [Member]
Business Acquisition [Line Items]
Acquisition date	Aug. 16, 2023
Preliminary purchase consideration	$ 14,453,000
Upfront cash payment	18,000,000
Adjustment to purchase price and goodwill		$ 400,000
Intangible assets	2,430,000
Goodwill resulting from the acquisition deductible for tax purposes	0
Tax benefit			$ 1,700,000
Summit [Member] \| Preliminary Before Adjustments [Member]
Business Acquisition [Line Items]
Preliminary purchase consideration	14,900,000
Summit [Member] \| Customer Relationship Asset [Member]
Business Acquisition [Line Items]
Intangible assets	$ 2,300,000
Estimated useful life	12 years

Inventory - Schedule of Inventory, Current (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 27,506	$ 25,823
Work-in-process	4,053	3,806
Finished goods	17,112	14,606
Inventory, net	$ 48,671	$ 44,235

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Schedule of Stock-Based Compensation Expense

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenue	$	376	$	80	$	740	$	129
Research, development and clinical trials expenses		1,123		714		2,001		1,232
Selling, general and administrative expenses		6,144		4,164		11,772		7,518
	$	7,643	$	4,958	$	14,513	$	8,879

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

The carrying amount of goodwill was $11.5 million and $12.0 million as of June 30, 2024 and December 31, 2023, respectively, and related to the Company’s acquisition of Summit. The change in goodwill during the three and six months ended June 30, 2024 is a result of final working capital adjustments to the purchase price of Summit. 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.

Acquired intangible assets consisted of the following (in thousands):


			June 30, 2024
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization		Carrying Value
	(in years)
Customer relationship		12	$	2,320	$	169	$	2,151
Other		12		110		8		102
			$	2,430	$	177	$	2,253


			December 31, 2023
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization		Carrying Value
	(in years)
Customer relationship		12	$	2,320	$	73	$	2,247
Other		12		110		3		107
			$	2,430	$	76	$	2,354

Amortization expense is recorded within selling, general and administrative expense. Amortization expense was $0.1 million for each of the three and six months ended June 30, 2024. Future amortization expense of the intangible assets as of June 30, 2024 is expected to be as follows (in thousands):


Year Ending December 31,
2024 (six months)	$	102
2025		203
2026		203
2027		203
2028		203
Thereafter		1,339
	$	2,253

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessee operating lease description				two non-cancelable operating leases.
Defined contribution plan, contribution amount		$ 1.0	$ 0.4	$ 1.6	$ 0.7
Recorded unconditional purchase commitment, minimum quantity required	$ 9.5
Recorded unconditional purchase commitment, maturity year and month	2029-12
Remaining purchase commitment		$ 6.0		$ 6.0
First 3% of Compensation Contributed [Member]
Defined contribution plan, matching percentage of each employee's contribution				100.00%
100% Match [Member]
Defined contribution plan, percentage of matching contribution				3.00%
Fifty Percent Match [Member] \| Additional Maximum [Member]
Defined contribution plan, percentage of matching contribution				2.00%
Excess of 3% to 5% of Compensation Contributed [Member]
Defined contribution plan, matching percentage of each employee's contribution				50.00%

Related Party Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions

13. 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 approximately $0.1 million in total compensation for each of the three months ended June 30, 2024 and 2023 for her services as an employee, and $0.2 million in total compensation for each of the six months ended June 30, 2024 and 2023.

- 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 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 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Goodwill and Intangible Assets - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (six months)	$ 102
2025	203
2026	203
2027	203
2028	203
Thereafter	1,339
Carrying Value	$ 2,253	$ 2,354

Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

14. Subsequent Events

In July 2024, the Company acquired two fixed-wing aircraft for a total purchase price of approximately $28.0 million. The Company plans to utilize these aircraft as part of the NOP's aviation transportation services.

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

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

$ 114,305

$ 52,465

$ 211,155

$ 94,019

OCS transplant revenue

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

113,171

52,465

209,118

94,019

OCS transplant revenue | United States [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

108,455

48,947

200,311

86,448

OCS transplant revenue | All Other Countries [Member]

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

4,716

3,518

8,807

7,571

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

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

4,243

2,817

8,949

4,248

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

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

448

403

1,408

654

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

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

27,173

13,456

47,397

26,412

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

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

4,268

3,108

7,399

6,910

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

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

$ 77,039

32,674

$ 143,965

55,788

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

Disaggregation Of Revenue [Line Items]

Total OCS transplant revenue

^[1],[2]

$ 7

[1]	Revenue by country is categorized based on the location of the end customer. Total revenue includes product and service revenue.
[2]	Service revenue unrelated to OCS transplant, which was $1.1 million and $2.0 for the three and six months ended June 30, 2024, respectively, and none for the three and six months ended June 30, 2023, 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.

+ References + Details

- Definition

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).

+ References

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

Acquisition of Summit - Summary of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Aug. 16, 2023
Business Acquisition [Line Items]
Goodwill	$ 11,549	$ 11,990
Summit [Member]
Business Acquisition [Line Items]
Accounts receivable			$ 2,089
Other current assets			1,040
Property, plant and equipment			5,922
Right-of-use asset			288
Intangible assets			2,430
Goodwill	$ 11,500	$ 12,000	11,549
Total assets acquired			23,318
Accounts payable and other current liabilities			(6,917)
Deferred tax liabilities			(1,660)
Operating lease liabilities			(288)
Total allocation of purchase price consideration, net of cash acquired			$ 14,453

Acquisition of Summit

6 Months Ended

Jun. 30, 2024

Business Combinations [Abstract]

Acquisition of Summit

3. Acquisition of Summit

On August 16, 2023, the Company acquired Summit pursuant to the terms of an equity purchase agreement. Summit was a charter flight operator based in Bozeman, Montana. The acquisition enabled TransMedics to add aviation transportation services to its NOP and become a comprehensive national provider of donor organ retrieval and delivery in the United States.

The acquisition was accounted for as a purchase of a business under ASC Topic 805, Business Combinations. Under the acquisition method of accounting, the assets and liabilities were recorded as of the acquisition date, at their respective fair values. The preliminary purchase consideration of $14.9 million reflected an upfront cash payment of $18.0 million, net of cash acquired and working capital adjustments. During the three months ended June 30, 2024, the Company recorded a final working capital adjustment of $0.4 million to the purchase price and goodwill, which amount was released to the Company in July 2024. The Company’s consolidated financial statements as of June 30, 2024 reflect the final allocation of the purchase price to the assets and liabilities assumed based on fair value as of the date of the acquisition.

The Company's estimate of preliminary purchase consideration was subject to change upon finalizing working capital adjustments. The Company’s preliminary estimate of the fair value of specifically identifiable assets acquired and liabilities assumed as of the date of acquisition was subject to change upon finalizing its valuation analysis. During the three months ended December 31, 2023, the Company recorded an adjustment to goodwill of $0.3 million, representing an adjustment to its estimate of the fair value of accounts payable and deferred tax liabilities as of the acquisition date. As of June 30, 2024, the preliminary estimates have been finalized, with no further changes to be recorded to the purchase price or allocation of the purchase price to the assets and liabilities assumed.

The following table summarizes the allocation of the purchase price (in thousands):


Assets Acquired and Liabilities Assumed:
Accounts receivable	$	2,089
Other current assets		1,040
Property, plant and equipment		5,922
Right-of-use asset		288
Intangible assets		2,430
Goodwill		11,549
Total assets acquired		23,318
Accounts payable and other current liabilities		(6,917	)
Deferred tax liabilities		(1,660	)
Operating lease liabilities		(288	)
Total allocation of purchase price consideration, net of cash acquired	$	14,453

Property, plant and equipment consisted primarily of flight school aircraft and construction-in-progress related to a commercial aircraft hangar that Summit was in the process of constructing at the date of acquisition. Flight school aircraft were valued using market comparisons adjusted for aircraft-specific condition. The fair value of construction-in-progress approximated its cost.

Intangible assets consisted primarily of a customer relationship asset of $2.3 million related to flight school revenue and was valued using the multi-period excess earnings method, a form of the income approach. Significant assumptions and estimates utilized in this model include the revenue growth rate, contract renewal probability and the discount rate. Intangible assets are being amortized on a straight-line basis to selling, general and administrative over their estimated useful lives of 12 years as of the acquisition date.

Goodwill was recognized for the excess purchase price over the fair value of the net assets acquired. Goodwill is primarily attributable to the workforce of the acquired business (which is not eligible for separate recognition as an identifiable intangible asset) and anticipated synergies between Summit’s existing business processes and the NOP. Goodwill from the acquisition is included within the Company’s one reporting unit and is included in the Company’s enterprise-level annual review for impairment. Goodwill resulting from the acquisition is not deductible for tax purposes.

Deferred tax liabilities relate to the differences between the fair value recognized in purchase accounting and the tax basis of property, plant and equipment and intangible assets. The net deferred tax liability is a source of income to support the recognition of a portion of existing deferred tax assets. Therefore, the Company recorded a tax benefit of $1.7 million during the three months ended September 30, 2023 for the release of a portion of its valuation allowance related to the net deferred tax liabilities recorded in purchase accounting.

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Allowance for credit losses	$ 0		$ 0		$ 0
Number of operating segments \| Segment			1
Prepaid expenses and other current assets	16,685,000		$ 16,685,000		8,031,000
Other Income (Expense) [Member]
Foreign currency transaction gains (losses)	$ (200,000)		$ (400,000)	$ 100,000
Convertible Senior Notes Due 2028 [Member]
Debt instrument, interest rate	1.50%		1.50%
Maximum [Member] \| Other Income (Expense) [Member]
Foreign currency transaction gains (losses)		$ 100,000
Spare Parts Inventory [Member]
Prepaid expenses and other current assets	$ 700,000		$ 700,000		$ 0

Nature of the Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Cash	$ 362,751	$ 394,812

- 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.

+ References + Details

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, 2024 USD ($)	Jun. 30, 2024 USD ($) TradingDays	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Proceeds from Convertible Debt					$ 445,380,000
Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Estimated fair value of convertible senior notes			$ 788,900,000	$ 788,900,000
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	$ 4,800,000
Percentage of cash coupon of notes and amortization of the debt issuance costs				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
Effective interest rate			2.10%	2.10%
Number of trading days \| TradingDays				20
Number of consecutive trading days \| TradingDays				30
Conversion price				130.00%
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			$ 460,000,000	$ 460,000,000		$ 460,000,000
Private Placement [Member] \| Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount	$ 460,000,000

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred Stock, No Par Value
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
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	33,314,281	32,670,803
Common Stock, Shares, Outstanding	33,314,281	32,670,803

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit
Balance at Dec. 31, 2022	$ 187,375	$ 666,277	$ (225)	$ (478,677)
Balance, Shares at Dec. 31, 2022		32,141,368
Issuance of common stock upon the exercise of common stock options	3,574	$ 3,574
Issuance of common stock upon the exercise of common stock options, Shares		378,500
Issuance of common stock in connection with employee stock purchase plan	384	$ 384
Issuance of common stock in connection with employee stock purchase plan, Shares		14,135
Stock-based compensation expense	3,921	$ 3,921
Foreign currency translation adjustment	7		7
Net income (loss)	(2,636)			(2,636)
Balance at Mar. 31, 2023	192,625	$ 674,156	(218)	(481,313)
Balance, Shares at Mar. 31, 2023		32,534,003
Balance at Dec. 31, 2022	187,375	$ 666,277	(225)	(478,677)
Balance, Shares at Dec. 31, 2022		32,141,368
Foreign currency translation adjustment	5
Net income (loss)	(3,637)
Balance at Jun. 30, 2023	145,213	$ 627,747	(220)	(482,314)
Balance, Shares at Jun. 30, 2023		32,582,933
Balance at Mar. 31, 2023	192,625	$ 674,156	(218)	(481,313)
Balance, Shares at Mar. 31, 2023		32,534,003
Issuance of common stock upon the exercise of common stock options	705	$ 705
Issuance of common stock upon the exercise of common stock options, Shares		39,158
Stock-based compensation expense	4,958	$ 4,958
Purchase of capped calls related to convertible senior notes	(52,072)	$ (52,072)
Issuance of restricted common stock, Shares		9,772
Foreign currency translation adjustment	(2)		(2)
Net income (loss)	(1,001)			(1,001)
Balance at Jun. 30, 2023	145,213	$ 627,747	(220)	(482,314)
Balance, Shares at Jun. 30, 2023		32,582,933
Balance at Dec. 31, 2023	137,202	$ 641,106	(199)	(503,705)
Balance, Shares at Dec. 31, 2023		32,670,803
Issuance of common stock upon the exercise of common stock options	2,547	$ 2,547
Issuance of common stock upon the exercise of common stock options, Shares		113,023
Issuance of common stock in connection with employee stock purchase plan	638	$ 638
Issuance of common stock in connection with employee stock purchase plan, Shares		9,506
Vesting of restricted stock units, Shares		58,044
Stock-based compensation expense	6,870	$ 6,870
Foreign currency translation adjustment	17		17
Net income (loss)	12,197			12,197
Balance at Mar. 31, 2024	159,471	$ 651,161	(182)	(491,508)
Balance, Shares at Mar. 31, 2024		32,851,376
Balance at Dec. 31, 2023	137,202	$ 641,106	(199)	(503,705)
Balance, Shares at Dec. 31, 2023		32,670,803
Foreign currency translation adjustment	(38)
Net income (loss)	24,391
Balance at Jun. 30, 2024	189,894	$ 669,445	(237)	(479,314)
Balance, Shares at Jun. 30, 2024		33,314,281
Balance at Mar. 31, 2024	159,471	$ 651,161	(182)	(491,508)
Balance, Shares at Mar. 31, 2024		32,851,376
Issuance of common stock upon the exercise of common stock options	10,641	$ 10,641
Issuance of common stock upon the exercise of common stock options, Shares		433,398
Vesting of restricted stock units, Shares		17,772
Issuance of common stock in connection with exercise of warrants, Shares		11,735
Stock-based compensation expense	7,643	$ 7,643
Foreign currency translation adjustment	(55)		(55)
Net income (loss)	12,194			12,194
Balance at Jun. 30, 2024	$ 189,894	$ 669,445	$ (237)	$ (479,314)
Balance, Shares at Jun. 30, 2024		33,314,281

Nature of the Business and Basis of Presentation

6 Months Ended

Jun. 30, 2024

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 commercial-stage 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 retrieval, OCS organ management and 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 logistics services include aviation transportation, ground transportation and other coordination activity.

On August 16, 2023, the Company acquired Summit Aviation, Inc. and Northside Property Group, LLC (together “Summit”). Summit was a charter flight operator based in Bozeman, Montana. The acquisition enabled TransMedics to add aviation transportation services to its NOP and become a comprehensive national provider of donor organ retrieval and delivery in the United States.

The accompanying 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 $362.8 million as of June 30, 2024 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. However, the Company in the future may need 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. 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. 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.

The Company’s 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 consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
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 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, 2023 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, 2024 and results of operations for the three and six months ended June 30, 2024 and 2023 and cash flows for the six months ended June 30, 2024 and 2023 have been made. The Company’s results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2024.
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 consolidated financial statements include, but are not limited to, revenue recognition, the valuation of inventory, the valuation of assets acquired and liabilities assumed in business combinations, including acquired intangible assets and the resulting goodwill, and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. As of the date of issuance of these unaudited consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. Actual results may differ from those estimates or assumptions.
Risk of Concentrations of Credit and Significant Suppliers	Risk of Concentrations of Credit 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, 2024 and December 31, 2023, the Company had no allowance for credit losses. 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 consolidated balance sheets, and the fair value of the Notes is presented at each reporting period for disclosure purposes only (see Note 8).
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, 2024, spare parts inventory of $0.7 million is included within prepaid expenses and other current assets on the accompanying consolidated balance sheets. The Company had no spare parts inventory as of December 31, 2023. 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, 2024 and December 31, 2023, the Company had no allowance for spare parts excess and obsolescence.
Segment Information	Segment Information The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company has developed and is commercializing a proprietary system to preserve and deliver human organs for transplant in a near-physiologic condition to address the limitations of cold storage organ preservation. 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, in deciding how to allocate resources and assess performance. The Company has determined that its chief operating decision maker is its Chief Executive Officer. The Company’s chief operating decision maker reviews the Company’s financial information on a consolidated basis for purposes of allocating resources and assessing financial performance.
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 consolidated statements of operations as a component of other income (expense). Realized and unrealized losses totaled $0.2 million and $0.4 million for the three and six months ended June 30, 2024, respectively. Realized and unrealized gains totaled less than $0.1 million for the three months ended June 30, 2023 and $0.1 million for the six months ended June 30, 2023.
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently assessing the impact of the adoption of this guidance. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in their tax rate reconciliations, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently assessing the impact of the adoption of this guidance.

- 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 segment reporting.

+ References

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+ Details

Net Income (Loss) per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

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

A reconciliation of the numerators and the denominators of the basic and dilutive net income (loss) 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,
	2024		2023			2024		2023
Numerator:
Net income (loss)	$	12,194	$	(1,001	)	$	24,391	$	(3,637	)

Denominator:
Weighted average basic common shares outstanding		33,119,514		32,545,352			32,939,852		32,403,597
Effect of dilutive securities:
Options to purchase common stock		1,938,145		—			1,855,745		—
Restricted stock units		214,037		—			170,417		—
Warrants to purchase common stock		2,576		—			6,978		—
Restricted stock awards		5,497		—			6,341		—
Employee stock purchase plan		8,539		—			4,270		—
Weighted average dilutive common shares outstanding		35,288,308		32,545,352			34,983,603		32,403,597
Net income (loss) per share:
Basic	$	0.37	$	(0.03	)	$	0.74	$	(0.11	)
Diluted	$	0.35	$	(0.03	)	$	0.70	$	(0.11	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Convertible senior notes		4,893,848		2,742,706		4,893,848		1,371,353
Options to purchase common stock		360,228		3,181,139		468,916		3,237,054
Employee stock purchase plan		—		11,759		12,207		12,390
Restricted stock units		9,522		198,525		5,439		139,909
Restricted stock awards		—		17,058		—		20,687
Warrants to purchase common stock		—		14,440		—		14,440
		5,263,598		6,165,627		5,380,410		4,795,833

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Aug. 16, 2023
Goodwill [Line Items]
Carrying amount of goodwill	$ 11,549,000	$ 11,549,000	$ 11,990,000
Impairments to goodwill		0
Amortization expense of intangible assets	100,000	100,000
Summit [Member]
Goodwill [Line Items]
Carrying amount of goodwill	$ 11,500,000	$ 11,500,000	$ 12,000,000	$ 11,549,000

- Definition

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

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

Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

5. Property, Plant and Equipment, Net

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


	June 30, 2024			December 31, 2023
Transplant aircraft	$	195,418		$	141,855
Flight school aircraft		3,484			3,484
OCS Consoles		17,232			14,491
Manufacturing equipment		7,940			6,898
Computer equipment and software		3,538			3,021
Laboratory equipment		2,539			1,875
Office, trade show and training equipment		4,323			4,006
Leasehold improvements		22,712			13,354
Construction-in-progress		1,876			6,250
		259,062			195,234
Less: Accumulated depreciation and amortization		(30,032	)		(21,293	)
	$	229,030		$	173,941

During the three and six months ended June 30, 2024, total depreciation and amortization expense was $4.5 million and $8.8 million, respectively. During the three and six months ended June 30, 2023, total depreciation and amortization expense was $1.4 million and $2.7 million, respectively. Construction-in-progress as of December 31, 2023 primarily related to construction of a commercial aircraft hangar at Bozeman Yellowstone International Airport in Bozeman, Montana. The aircraft hangar was placed in service in June 2024 and is included in leasehold improvements as of June 30, 2024. The Company is depreciating the aircraft hangar over 28.5 years. Substantially all of the Company's property, plant and equipment are held in the United States. The Company capitalized costs associated with the development of internal use software of $0.5 million in the three and six months ended June 30, 2024, which costs are included in construction-in-progress.

Revenue - Revenue - Schedule of Net Revenue by Organ and Country (Parenthetical) (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 114,305,000	$ 52,465,000	$ 211,155,000	$ 94,019,000
Unrelated to OCS Transplant [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 1,100,000	$ 0	$ 2,000,000	$ 0

- 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

- Definition

+ References

+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

Operating Leases

The Company leases office, laboratory and manufacturing space under two non-cancelable operating leases. There have been no material changes to the Company’s leases during the six months ended June 30, 2024. For additional information, please read Note 12 Leases, to the consolidated financial statements in the Company’s Form 10-K for the year ended December 31, 2023.

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, 2024, the Company recorded expense of $1.0 million and $1.6 million, respectively, related to these matching contributions. For the three and six months ended June 30, 2023, the Company recorded expense of $0.4 million and $0.7 million, respectively, related to these matching contributions.

Indemnification Agreements

In the ordinary course of business, the Company has agreed to defend and indemnify its customers against third-party claims asserting infringement of certain intellectual property rights, which may include patents, copyrights, trademarks, or trade secrets. The Company’s exposure under these indemnification provisions could potentially expose the Company to losses in excess of the amount received under the agreement. In the ordinary course of business, the Company may provide indemnification of varying scope and terms to 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 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 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 consolidated financial statements as of June 30, 2024 and December 31, 2023.

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, 2024 was $6.0 million.

Legal Proceedings

The Company is not currently party to any material legal proceedings. 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. The Company expenses as incurred the costs related to such legal proceedings.

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended		6 Months Ended
	Nov. 02, 2023	May 25, 2023	Apr. 15, 2019	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2024	Aug. 31, 2021
Unrecognized compensation cost related to unvested employee and director stock-based awards						$ 70.8
Weighted average period for unrecognized compensation cost						2 years 4 months 24 days
Common Stock
Number of shares issued				9,506	14,135
2019 Stock Plan [Member]
Share-based compensation arrangement by share-based payment award, number of shares authorized			3,428,571
Share based compensation arrangement by share based payment award number of shares available for grant						910,146
2019 Stock Plan [Member] \| Common Stock
Share-based compensation arrangement by sharebased payment award, number of additional shares authorized		1,000,000
2019 Stock Plan [Member] \| From 2014 Plan [Member]
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, number of shares authorized			371,142
Share based compensation arrangement by share based payment award number of shares available for grant						255,053
Purchase price of common stock, percent			85.00%
Number of shares issued						9,506
2021 Inducement Plan [Member] \| Common Stock
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						546,455
2019 Plan and 2021 Inducement Plan [Member] \| Common Stock
Options granted						343,316
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value						$ 55.01
2019 Plan and 2021 Inducement Plan [Member] \| Restricted stock units [Member]
Shares granted						229,891
Share-based compensation arrangement by share-based payment award, grants in period, weighted average grant date fair value						$ 88.27

Long-term Debt and Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Notes

The Notes consisted of the following (in thousands):


	June 30, 2024			December 31, 2023
Principal amount of convertible senior notes	$	460,000		$	460,000
Less: Current portion of convertible senior notes		—			—
Convertible senior notes, net of current portion		460,000			460,000
Debt discount, net of accretion		(11,466	)		(12,860	)
Convertible senior notes, net of discount and current portion	$	448,534		$	447,140

Schedule of Long-Term Debt Instruments

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


	June 30, 2024			December 31, 2023
Principal amount of long-term debt	$	60,000		$	60,000
Less: Current portion of long-term debt		—			—
Long-term debt, net of current portion		60,000			60,000
Debt discount, net of accretion		(783	)		(936	)
Long-term debt, net of discount and current portion	$	59,217		$	59,064

- 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
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,430	$ 2,430
Accumulated Amortization	177	76
Carrying Value	$ 2,253	$ 2,354
Customer Relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	12 years	12 years
Gross Amount	$ 2,320	$ 2,320
Accumulated Amortization	169	73
Carrying Value	$ 2,151	$ 2,247
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	12 years	12 years
Gross Amount	$ 110	$ 110
Accumulated Amortization	8	3
Carrying Value	$ 102	$ 107

- 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

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Acquired Intangible Assets

Acquired intangible assets consisted of the following (in thousands):


			June 30, 2024
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization		Carrying Value
	(in years)
Customer relationship		12	$	2,320	$	169	$	2,151
Other		12		110		8		102
			$	2,430	$	177	$	2,253


			December 31, 2023
	Weighted Average Useful Life		Gross Amount		Accumulated Amortization		Carrying Value
	(in years)
Customer relationship		12	$	2,320	$	73	$	2,247
Other		12		110		3		107
			$	2,430	$	76	$	2,354

Future Amortization Expense of Intangible Assets

Future amortization expense of the intangible assets as of June 30, 2024 is expected to be as follows (in thousands):


Year Ending December 31,
2024 (six months)	$	102
2025		203
2026		203
2027		203
2028		203
Thereafter		1,339
	$	2,253

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Statement of Cash Flows [Abstract]
Convertible senior notes, issuance costs paid	$ 14,620

Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Net Revenue by Organ and Country


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
OCS transplant revenue by country by organ(1)(2):
United States
Lung total revenue	$	4,243	$	2,817	$	8,949	$	4,248
Heart total revenue		27,173		13,456		47,397		26,412
Liver total revenue		77,039		32,674		143,965		55,788
Total United States OCS transplant revenue		108,455		48,947		200,311		86,448
All other countries
Lung revenue		448		403		1,408		654
Heart revenue		4,268		3,108		7,399		6,910
Liver revenue		—		7		—		7
Total all other countries OCS transplant revenue		4,716		3,518		8,807		7,571
Total OCS transplant revenue	$	113,171	$	52,465	$	209,118	$	94,019

(1)

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

(2)

Accrued Expenses and Other Current Liabilities

6 Months Ended

Jun. 30, 2024

Accrued Expenses And Other Current Liabilities [Abstract]

Accrued Expenses and Other Current Liabilities

7. Accrued Expenses and Other Current Liabilities

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


	June 30, 2024		December 31, 2023
Accrued payroll and related expenses	$	20,178	$	20,300
Accrued transportation costs		4,311		4,381
Accrued research, development and clinical trials expenses		2,852		1,771
Accrued other		10,375		11,769
	$	37,716	$	38,221

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Director [Member]
Related Party Transaction [Line Items]
Compensation expense	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Long-term Debt and Financing Arrangements - Capped Call Transactions - Additional Information (Detail) $ in Thousands		3 Months Ended	6 Months Ended
	May 11, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 TradingDays $ / shares shares
Debt Instrument [Line Items]
Purchase of capped calls related to convertible senior notes \| $		$ (52,072)
Capped Calls [Member]
Debt Instrument [Line Items]
Purchase of capped calls related to convertible senior notes \| $	$ 52,100
Initial conversion price/rate \| $ / shares			$ 94
Capped calls, initial cap price per share \| $ / shares			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.

+ References

+ Details

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 259,062	$ 195,234
Less: Accumulated depreciation and amortization	(30,032)	(21,293)
Property, plant and equipment, net	229,030	173,941
Transplant Aicraft [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	195,418	141,855
Flight School Aircraft [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,484	3,484
OCS Consoles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17,232	14,491
Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,940	6,898
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,538	3,021
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,539	1,875
Office, Trade Show and Training Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,323	4,006
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	22,712	13,354
Construction-In-Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,876	$ 6,250

Property, Plant and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024			December 31, 2023
Transplant aircraft	$	195,418		$	141,855
Flight school aircraft		3,484			3,484
OCS Consoles		17,232			14,491
Manufacturing equipment		7,940			6,898
Computer equipment and software		3,538			3,021
Laboratory equipment		2,539			1,875
Office, trade show and training equipment		4,323			4,006
Leasehold improvements		22,712			13,354
Construction-in-progress		1,876			6,250
		259,062			195,234
Less: Accumulated depreciation and amortization		(30,032	)		(21,293	)
	$	229,030		$	173,941

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Total revenue	$ 114,305	$ 52,465	$ 211,155	$ 94,019
Cost of revenue:
Total cost of revenue	45,044	15,724	81,932	28,512
Gross profit	69,261	36,741	129,223	65,507
Operating expenses:
Research, development and clinical trials	13,858	8,291	25,238	14,162
Selling, general and administrative	42,895	29,356	79,056	54,340
Total operating expenses	56,753	37,647	104,294	68,502
Income (loss) from operations	12,508	(906)	24,929	(2,995)
Other income (expense):
Interest expense	(3,623)	(2,505)	(7,221)	(3,596)
Interest income and other income (expense)	3,268	2,431	6,838	2,986
Total other expense, net	(355)	(74)	(383)	(610)
Income (loss) before income taxes	12,153	(980)	24,546	(3,605)
(Provision) benefit for income taxes	41	(21)	(155)	(32)
Net income (loss)	$ 12,194	$ (1,001)	$ 24,391	$ (3,637)
Net income (loss) per share, basic	$ 0.37	$ (0.03)	$ 0.74	$ (0.11)
Net income (loss) per share, diluted	$ 0.35	$ (0.03)	$ 0.7	$ (0.11)
Weighted average common shares outstanding, basic	33,119,514	32,545,352	32,939,852	32,403,597
Weighted average common shares outstanding, diluted	35,288,308	32,545,352	34,983,603	32,403,597
Net product revenue [Member]
Revenue:
Total revenue	$ 71,732	$ 42,462	$ 133,057	$ 76,455
Cost of revenue:
Total cost of revenue	14,470	8,558	28,554	15,864
Service Revenue [Member]
Revenue:
Total revenue	42,573	10,003	78,098	17,564
Cost of revenue:
Total cost of revenue	$ 30,574	$ 7,166	$ 53,378	$ 12,648

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Expenses And Other Current Liabilities [Abstract]
Accrued payroll and related expenses	$ 20,178	$ 20,300
Accrued transportation costs	4,311	4,381
Accrued research, development and clinical trials expenses	2,852	1,771
Accrued other	10,375	11,769
Accrued expenses and other liabilities current	$ 37,716	$ 38,221

Net Income (Loss) per Share - Reconciliation of Numerators and Denominators of Basic and Dilutive Net Income (Loss) per Common Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss)	$ 12,194	$ 12,197	$ (1,001)	$ (2,636)	$ 24,391	$ (3,637)
Weighted average common shares outstanding, basic	33,119,514		32,545,352		32,939,852	32,403,597
Weighted average common shares outstanding, diluted	35,288,308		32,545,352		34,983,603	32,403,597
Net income (loss) per share, basic	$ 0.37		$ (0.03)		$ 0.74	$ (0.11)
Net income (loss) per share, diluted	$ 0.35		$ (0.03)		$ 0.7	$ (0.11)
Employee stock purchase plan [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	8,539				4,270
Warrants to purchase common stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	2,576				6,978
Options to purchase common stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	1,938,145				1,855,745
Restricted stock units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	214,037				170,417
Restricted stock awards [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities	5,497				6,341

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
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]
Interest rate effective percentage		7.30%		7.30%
Average effective interest rate		7.90%		7.80%
Interest expense, debt		$ 1,200	$ 1,200	$ 2,400	$ 2,300
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%
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]
LIBOR rate	1.00%
Canadian Imperial Bank of Commerce [Member] \| Credit Agreement [Member] \| 12 to 24 Months After Closing Date [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, prepayment fee percentage	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]
LIBOR 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%