Shares of TransMedics (NASDAQ: TMDX) soared 27.3% higher as of 1:50 p.m. ET on Wednesday as the organ transplant innovator easily exceeded first-quarter 2024 expectations.

Growing revenue by 133% in Q1 to $97 million, the company rocketed past Wall Street estimates of $81 million in sales. Furthermore, TransMedics delivered generally accepted accounting principles (GAAP) earnings per share (EPS) of $0.35 -- a pleasant surprise to the negative $0.05 analysts had expected.

Providing Organ Care Systems (OCS) for heart, lung, and liver donations, TransMedics continues to see incredible demand for its life-saving products. After increasing sales by 133% in Q1, the company has recorded eight consecutive quarters of triple-digit growth.

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Source Fool.com