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LeMaitre Vascular, Inc.

LeMaitre Vascular, Inc.

NASDAQ•LMAT
CEO: Mr. George W. LeMaitre
Sector: Healthcare
Industry: Medical - Instruments & Supplies
Listing Date: 2006-10-19
LeMaitre Vascular, Inc. develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature. The company also provides artegraft biologic graft, a bovine carotid artery used for dialysis access; XenoSure biologic patches, used for closure of vessels after surgical intervention; VascuCel and CardioCel biologic patches, used in vessel repair, heart repair and reconstruction, and neonatal repairs; cardiovascular patches; carotid shunts that temporarily shunt the blood to the brain during the removal of plaque in a carotid endarterectomy surgery; biosynthetic vascular graft indicated for lower extremity bypass and dialysis access; and vascular grafts used to bypass or replace diseased arteries. In addition, it offers radiopaque tape, a medical-grade tape applied to the skin that enables surgeons and interventionalists to cross-refer between the inside and the outside of a patient's body and allows them to locate tributaries or lesions beneath the skin. Further, the company provides valvulotomes, which cut or disrupt valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and closure systems to attach vessels to one another with titanium clips instead of sutures. It markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was incorporated in 1983 and is headquartered in Burlington, Massachusetts.
Contact Information
63 Second Avenue, Burlington, MA, 01803, United States
781-221-2266
www.lemaitre.com
Market Cap
$1.94B
P/E (TTM)
36.4
79.7
Dividend Yield
0.9%
52W High
$105.55
52W Low
$71.42
52W Range
42%
Rank24Top 7.5%
6.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$61.05M+11.36%
4-Quarter Trend

EPS

$0.77+54.00%
4-Quarter Trend

FCF

$26.48M+110.58%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Strong Nine-Month Sales Growth Nine-month net sales grew 13% to $185.1M, driven by higher prices and unit volumes shipped to customers.
Net Income Substantially Higher Nine-month net income totaled $42.2M, reflecting a substantial 28.3% increase compared to $32.9M last year.
Gross Margin Expansion Noted Gross margin improved 310 basis points to 71.5% for nine months, aided by ERC receipt of $2.7M.
Operating Cash Flow Doubled Net cash provided by operating activities was $58.1M for nine months, nearly doubling prior year's $28.9M.

Risk Factors

Regulatory Approval Vulnerability Products face extensive regulation; approvals, licenses, or clearances risk withdrawal or suspension post-approval.
Global Economic Headwinds Sustained global economic uncertainty and tariffs may negatively affect demand and pressure international gross margins.
Product Liability Exposure Potential product defects or malfunctions could lead to recalls, warning letters, or costly product liability claims.
ERP System Changes New ERP system implementation requires process changes that may affect internal control comparability quarterly.

Outlook

Direct Sales Force Growth Strategy focuses on growing direct sales personnel across North America, Europe, and APAC regions replacing distributors.
Capital Return Program Active Board authorized $75.0M common stock repurchase program through February 2026; no repurchases executed yet.
Dividend Rate Increased Quarterly cash dividend increased to $0.20 per share starting in Fiscal Year 2025, up from $0.16.
Continued Product Acquisitions Expect to continue using acquisitions as primary means to penetrate peripheral vascular device market further.

Peer Comparison

Revenue (TTM)

Ardent Health Partners, Inc.ARDT
$6.33B
+10.9%
QuidelOrtho CorporationQDEL
$2.72B
-3.6%
Aveanna Healthcare Holdings Inc.AVAH
$2.29B
+15.5%

Gross Margin (Latest Quarter)

QuidelOrtho CorporationQDEL
93.2%
+44.7pp
AtriCure, Inc.ATRC
75.5%
+0.6pp
LeMaitre Vascular, Inc.LMAT
75.3%
+7.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
HAE$4.09B23.719.4%50.1%
AORT$2.15B-234.6-2.6%1.0%
NHC$2.12B20.210.5%11.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.1%
Moderate Growth
4Q Net Income CAGR
15.8%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 7, 2025|
    Revenue: $61.05M+11.4%
    |
    EPS: $0.77+54.0%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $64.23M+15.0%
    |
    EPS: $0.61+15.1%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $59.87M+12.0%
    |
    EPS: $0.49+14.0%
    Meet
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $219.86M+13.6%
    |
    EPS: $1.96+44.1%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 8, 2024|
    Revenue: $54.82M+15.6%
    |
    EPS: $0.50+47.1%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $55.85M+11.4%
    |
    EPS: $0.53+47.2%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $53.48M+13.6%
    |
    EPS: $0.43+59.3%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $193.48M+19.7%
    |
    EPS: $1.36+44.7%
    Beat