TransMedics Group (NASDAQ:TMDX) experienced a significant surge in its stock value, with an over 50% increase intra-day today following the company’s third-quarter earnings that not only beat expectations but also prompted an upward revision of its annual sales outlook.

For the quarter, TransMedics reported revenues of $66.4 million, which was substantially higher than the anticipated $49.2 million. The company incurred operating expenses amounting to $69 million, leading to a net loss of $25.4 million.

Adjusting its forecast for the year, TransMedics Group now projects that its revenue will fall between $222 million and $230 million, an uplift from the previous projection range of $180 million to $190 million. This updated revenue guidance notably exceeds the Street estimate of $194.2 million.