LEMAITRE VASCULAR INC

Listed Company

LMATCIK 0001158895NasdaqLarge AcceleratedSurgical & Medical Instruments & ApparatusFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$57.73M

Total Assets

$615.69M

Equity

$393.52M

Shares Out

22.78M

Op. Cash Flow

$81.25M

Business

LEMAITRE VASCULAR INC is a global provider of medical devices and human tissue cryopreservation services used in the treatment of peripheral vascular disease, end-stage renal disease, and cardiovascular conditions. The company develops, manufactures, and markets vascular devices and allograft cryopreservation services, including biologic grafts and patches, embolectomy and occlusion catheters, carotid shunts, closure systems, valvulotomes, radiopaque tape, and a powered phlebectomy system. Its operations are organized around peripheral vascular device offerings, biologic product lines and RestoreFlow allograft tissue services, supported by R&D and manufacturing capabilities. Products are sold primarily through a direct sales force across the United States, Europe, Canada and Asia Pacific, with distributors used in other countries.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	250	220	193	162	154
Cost of sales	71	69	66	57	53
Gross profit	179	151	127	105	101
Sales and marketing	54	47	41	33	28
General and administrative	42	36	32	29	26
Research and development	14	16	17	13	12
Restructuring	0	0	500,000	3	0
Total operating expenses	111	99	90	78	65
Income from operations	68	52	37	27	36
Investment income	13	5	3	986,000	197,000
Interest expense	−5	−205,000	—	0	2
Other income (loss), net	−638,000	−125,000	−314,000	−325,000	−116,000
Income before income taxes	75	57	39	27	34
Provision for income taxes	17	13	9	7	7
Net income	58	44	30	21	27
Basic (in dollars per share)	2.55	1.96	1.36	0.94	1.27
Diluted (in dollars per share)	2.52	1.93	1.34	0.93	1.25
Basic (in shares)	23	22	22	22	21
Diluted (in shares)	23	23	22	22	21
Cash dividends declared per common share (in dollars per share)	0.8	0.64	0.56	0.5	0.44

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	28	26	24	19	14
Short-term marketable securities	331	274	81	64	56
Accounts receivable, net of allowances of $1,400 at December 31, 2025 and $1,369 at December 31, 2024	34	30	25	22	20
Inventory and other deferred costs	70	65	58	50	46
Prepaid expenses and other current assets	5	7	6	7	4
Total current assets	468	402	195	162	140
Property and equipment, net	27	25	22	18	17
Right-of-use leased assets	16	17	18	16	15
Goodwill	66	66	66	66	66
Other intangibles, net	33	36	42	47	53
Deferred tax assets	759,000	1	1	2	2
Other assets	5	5	4	991,000	568,000
Total assets	616	552	347	310	293
Accounts payable	4	2	4	3	2
Accrued expenses	29	25	24	20	16
Acquisition-related obligations	322,000	1	24,000	573,000	1
Lease liabilities - short-term	3	3	2	2	2
Total current liabilities	36	31	30	25	22
Convertible senior notes, net	169	168	0	—	—
Lease liabilities - long-term	14	15	17	15	14
Deferred tax liabilities	2	85,000	107,000	69,000	70,000
Other long-term liabilities	1	831,000	2	2	3
Total liabilities	222	215	49	42	39
Preferred stock, $0.01 par value; 3,000,000 shares authorized; none issued and outstanding	—	—	0	0	0
Common stock, $0.01 par value; 37,000,000 shares authorized, 24,396,904 and 24,153,165 shares issued, 22,772,607 and 22,549,340 shares outstanding, respectively	244,000	242,000	239,000	237,000	235,000
Additional paid-in capital	228	214	201	189	182
Retained earnings	185	145	115	98	88
Accumulated other comprehensive loss	−2	−6	−5	−6	−3
Treasury stock, at cost; 1,624,297 and 1,603,825 shares, respectively	−17	−16	—	—	—
Total stockholders equity	394	337	298	268	254
Total liabilities and stockholders equity	616	552	347	310	293

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	10	10	10	9	11
Stock-based compensation	8	7	5	4	3
Amortization of issuance costs on convertible senior notes	873,000	62,000	0	—	—
Provision for inventory write-downs	3	3	2	3	4
Provision (benefit) for deferred income taxes	2	−451,000	783,000	−182,000	79,000
Loss on divestitures	0	0	485,000	2	0
Provision for credit losses	817,000	813,000	344,000	637,000	263,000
Unrealized loss on equity investments	535,000	0	0	—	—
Fair value adjustments to contingent consideration obligations	—	134,000	−78,000	−108,000	−674,000
Foreign currency transaction effect on income	−176,000	362,000	−705,000	−315,000	163,000
Accounts receivable	−3	−6	−3	−4	−818,000
Inventory and other deferred costs	−7	−11	−10	−7	−5
Prepaid expenses and other assets	2	−2	−3	−3	−2
Accounts payable and other liabilities	4	−923,000	5	645,000	−2
Accrued interest	2	144,000	0	—	—
Net cash provided by operating activities	81	44	37	25	35
Purchases of short-term marketable securities	−641	−278	−17	−8	−59
Purchases of property and equipment	−7	−7	−7	−3	−5
Payments related to acquisitions, net of cash acquired	−2	0	−899,000	0	0
Proceeds from sales of short-term marketable securities	585	85	0	0	3
Net cash used in investing activities	−65	−200	−25	−10	61
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $3,234	0	169	0	0	—
Costs paid related to issuance of convertible senior notes	—	−3	—	—	—
Common stock cash dividend paid	−18	−14	−12	−11	−9
Proceeds from stock option exercises	7	6	6	—	—
Payment of withholding taxes in connection with net settlement of equity awards	−2	−2	−853,000	−642,000	−802,000
Deferred payments for acquisitions	−1	0	0	−1	−401,000
Net cash (used in) provided by financing activities	−15	158	−7	−9	14
Effect of exchange rate changes on cash and cash equivalents	864,000	−765,000	230,000	−494,000	−637,000
Net increase in cash and cash equivalents	3	1	5	5	−13

Filings

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