LMAT
LeMaitre Vascular, Inc.83.41
+0.64+0.77%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Artegraft TAM triples to $30M
Q&A surfaced a key upgrade to Artegraft's international TAM at $30 million, triple prior $8 million estimate, fueled by Central Europe's leg bypass uptake and U.K./dialysis potential, with $10 million 2026 sales eyed. Management affirmed an active M&A pipeline—22 open vascular targets plus cardiac, sweet spot $15-150 million revenues—while stressing organic proof and deal discipline. China flipped profitable via price hikes; CREST-2 shrugged off amid record OUS shunts. Pricing routine at 8%. Artegraft TAM now $30M. Investors watch international ramps and bolt-ons.
Key Stats
Market Cap
1.89BP/E (TTM)
35.95Basic EPS (TTM)
2.32Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
LeMaitre Vascular drove FY2025 net sales to $249.6M, up 14% y/y, with biologics at 53% of mix; operating income grew 30% y/y yet margins held firm at 71.5% thanks to price hikes and efficiencies, despite lower-margin allograft and ovine graft sales. Q4 accelerated the trend—grafts soared on Artegraft's EU launch, valvulotomes and shunts posted double-digit gains, while EMEA jumped 22% y/y on regulatory wins. Cash from operations hit $81M; board hiked the dividend to $0.25/share. $172.5M convertible notes due 2030 fund flexibility. Tissue supply disruptions threaten quarterly momentum.
8-K
Q4 sales +16%, op income +47%
LeMaitre Vascular reported Q4 2025 sales of $64.5mm, up 16% (15% organic) from Q4 2024, with operating income surging 47% to $18.8mm on 71.7% gross margins and controlled expenses. EMEA sales jumped 29%, fueled by grafts and valvulotomes. Board hiked dividend 25% to $0.25/share and authorized $100mm buyback; 2026 sales guidance mid $280mm (+12%). Strong leverage persists.
10-Q
Q3 FY2025 results
LeMaitre Vascular posted Q3 net sales of $61.0M, up 11% y/y, with gross profit surging 24% to $46.0M at 75.3% margin—boosted by $4.8M ERC receipt and higher graft/shunt volumes—while operating income climbed to $20.3M from $13.1M. Diluted EPS hit $0.75 on 24.4M shares, reconciling cleanly with if-converted notes adding $1.0M interest net of tax; YTD sales rose 13% to $185.1M, EPS $1.84. Cash flow from operations topped $58.1M YTD (FCF not disclosed in the 10-Q), backing $25.5M cash plus $318M short-term securities against $168M convertible notes due 2030 at 2.50%. Sales force grew to 152 reps. Direct sales rule 95%. Yet regulatory recalls lurk.
8-K
Q3 sales +11%, raised guidance
LeMaitre Vascular reported Q3 sales of $61.0mm, up 11% (12% organic), driven by grafts (+23%) and shunts (+18%), with Artegraft accelerating +33% on international launch. Adjusted op. income hit $16.9mm (+29%), margins at 28%, cash at $343.1mm. Q4 sales guide $61.8-63.8mm; raised full-year outlook. Dividend hiked to $0.20/share.
10-Q
Q2 FY2025 results
LeMaitre Vascular posted solid Q2 FY2025 results, with net sales climbing 15% year-over-year to $64.2 million, fueled by higher volumes and pricing across grafts, catheters, and valvulotomes, while gross margin edged up to 70.0% on manufacturing efficiencies and favorable mix. Operating income rose 12% to $16.1 million, and diluted EPS hit $0.60, up from $0.52, reconciling neatly with 22.9 million weighted shares. Cash from operations surged to $29.3 million for the half-year, lifting cash equivalents to $27.2 million alongside $292.3 million in short-term securities, though $172.5 million in 2.50% convertible notes due 2030 loom with semiannual interest. Free cash flow stood at $26.6 million (derived) after $2.7 million capex. Yet regulatory hurdles persist in Europe.
IPO
Website
Employees
Sector
Industry
ANGO
AngioDynamics, Inc.
13.48+0.14
AORT
Artivion, Inc.
45.91+0.54
AVTR
Avantor, Inc.
11.20-0.08
BDX
Becton, Dickinson and Company
196.39-3.70
EW
Edwards Lifesciences Corporatio
85.32+1.94
HAE
Haemonetics Corporation
81.11+0.71
MBOT
Microbot Medical Inc.
2.22+0.01
MMSI
Merit Medical Systems, Inc.
86.85+0.44
NVNO
enVVeno Medical Corporation
0.32+0.01
TFX
Teleflex Incorporated
124.87-1.85