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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 LEMAITRE VASCULAR, INC. (Exact name of registrant as specified in its charter) Delaware 04-2825458 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 63 Second Avenue, Burlington, Massachusetts 01803 (Address of principal executive off ...

Financial Data and Key Metrics Changes - Q2 sales increased by 15%, with a gross margin of 70% and EPS up 16% [5][12] - Operating income for Q2 was $16.1 million, reflecting a 12% increase, resulting in an operating margin of 25% [12] - Net income rose by 17% year-over-year to $13.8 million, with fully diluted EPS at $0.60, up 16% [12][14] - Cash from operations reached a record $20.3 million in Q2, with total cash and securities at $319.5 million, an increase of $17 million in the quarter [12][14] Business Line Data and Key Metrics Changes - Sales from catheters increased by 27%, grafts by 19%, and both valvulotomes and shunts by 13% [5] - Organic revenue growth was 15%, driven by 8% price growth and 7% unit growth, particularly in ArteGraft, XenoSure, RestoreFlow, and catheters [9][11] - ArteGraft sales are projected to exceed $2 million for the full year 2025, with Q2 sales of $420,000, up from $185,000 in Q1 [6][34] Market Data and Key Metrics Changes - EMEA region grew by 23%, while the Americas and APAC regions both saw growth of 12% [5] - International autograft launch exceeded expectations, contributing significantly to sales growth [6][34] Company Strategy and Development Direction - The company is focusing on expanding its international presence, with plans for regulatory approvals in Canada, Korea, and Singapore by 2026 [6][8] - A new RestoreFlow distribution facility is being opened in Dublin to support European launches [7] - The company anticipates a full-year revenue of $251 million and 15% organic growth, driven by a growing sales organization and success in global markets [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the global business model despite evolving international trade landscapes, with only a 25% average price increase in China due to tariffs [13] - The company expects lower operating expenses in the second half of the year, contributing to improved operating margins [40][41] - Management raised full-year guidance for revenue, gross margin, operating income, and EPS, reflecting optimism for continued growth [14] Other Important Information - The company ended Q2 with 164 sales representatives and 33 sales managers, with ongoing efforts to expand direct sales in international markets [8] - A packaging-related recall impacted catheter sales temporarily, but stocking orders boosted overall sales in Q2 [10][18] Q&A Session Summary Question: Impact of stocking orders on Q2 results - Management estimated that stocking orders related to the catheter recall contributed approximately $800,000 to Q2 sales [18] Question: Sustainability of price growth - Management indicated that while price growth has been strong, future price increases will depend on market conditions and competitive dynamics [20] Question: Details on unit volume growth - Excluding the impact of the catheter recall, unit growth was around 5%, consistent with previous years [23][24] Question: Sales force expansion plans - The company aims to reach around 165 sales representatives by year-end, with a focus on maintaining a balanced sales force across regions [46][48] Question: International sales growth expectations - Management noted strong growth in Europe and a positive turnaround in the U.S., with expectations for continued growth in both regions [50][52] Question: Regulatory approvals and new product introductions - The company is awaiting approvals for several products in key international markets, including China and Canada, which are expected to drive future growth [105][106]

Exhibit 99.1 LeMaitre Q2 2025 Financial Results BURLINGTON, MA, August 5, 2025 – LeMaitre Vascular, Inc. (Nasdaq: LMAT), a provider of vascular devices, implants, and services, today reported Q2 2025 results, announced a quarterly dividend of $0.20/share, and provided guidance. Q2 2025: Catheters (+27%) and grafts (+19%) drove Q2 sales growth. EMEA sales increased 23%, Americas 12%, and APAC 12%. Price accounted for 8% of sales growth and units 7%. Gross margin of 70.0% (vs. 68.9% in Q2 2024) increased due ...

BURLINGTON, Mass., Aug. 05, 2025 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq: LMAT), a provider of vascular devices, implants, and services, today reported Q2 2025 results, announced a quarterly dividend of $0.20/share, and provided guidance. Q2 2025: Sales $64.2mm, +15% (+15% organic)Gross margin 70.0%, +110 bpsOp. income $16.1mm, +12%Op. margin 25%Earnings per diluted share $0.60, +16%Cash up $16.9mm sequentially to $319.5mm Catheters (+27%) and grafts (+19%) drove Q2 sales growth. EMEA sales incr ...

Company Overview - LeMaitre Vascular, Inc. is a provider of devices, implants, and services for the treatment of peripheral vascular disease, which affects over 200 million people globally [3] - The company develops, manufactures, and markets both disposable and implantable vascular devices aimed at vascular surgeons [3] Financial Results Announcement - LeMaitre Vascular will release its second quarter 2025 financial results on August 5, 2025, after market close [1] - A conference call is scheduled for 5:00 PM EDT on the same day to discuss the financial results, business highlights, and company outlook [1] Access to Conference Call - Access to the live conference call requires online registration, after which registrants will receive dial-in information and a PIN [2] - The audio webcast will be available live and for replay through the company's investor relations website [2]

Part I. Financial Information [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) LeMaitre Vascular, Inc.'s unaudited consolidated financial statements for Q1 2025 are presented, showing a 12% increase in net sales and an 11% rise in net income year-over-year [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets increased to $556.0 million, total liabilities decreased to $208.4 million, and total stockholders' equity grew to $347.6 million Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $25,340 | $25,610 | | Short-term marketable securities | $277,209 | $274,112 | | Total current assets | $408,113 | $402,192 | | Total assets | $556,006 | $551,817 | | **Liabilities & Equity** | | | | Total current liabilities | $24,745 | $30,607 | | Convertible senior notes, net | $167,984 | $167,772 | | Total liabilities | $208,434 | $214,527 | | Total stockholders' equity | $347,572 | $337,290 | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For Q1 2025, LeMaitre Vascular reported a 12% increase in net sales to $59.9 million and an 11% rise in net income to $11.0 million, resulting in a diluted EPS of $0.48 Q1 2025 vs. Q1 2024 Performance (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net sales | $59,871 | $53,478 | +12.0% | | Gross profit | $41,420 | $36,665 | +13.0% | | Income from operations | $12,626 | $11,874 | +6.3% | | Net income | $11,011 | $9,887 | +11.4% | | Diluted EPS | $0.48 | $0.44 | +9.1% | - Cash dividends declared per common share increased by **25%** to **$0.20** in Q1 2025 from **$0.16** in Q1 2024[12](index=12&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For Q1 2025, net cash provided by operating activities significantly increased to $9.0 million, while investing activities used $4.3 million and financing activities used $5.2 million, resulting in a net decrease in cash of $0.3 million Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $9,039 | $5,071 | | Net cash used in investing activities | ($4,320) | ($2,361) | | Net cash (used in) provided by financing activities | ($5,239) | $39 | | Net (decrease) increase in cash | ($270) | $2,326 | [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) The notes detail accounting policies and financial statement components, covering business operations, convertible senior notes, stock-based compensation, and a subsequent event regarding new U.S. tariffs announced in April 2025 - The company operates in a single segment, developing, manufacturing, and marketing medical devices and implants for vascular surgery[23](index=23&type=chunk) - In December 2024, the company issued **$172.5 million** in **2.50% convertible senior notes** due 2030, with net proceeds of approximately **$167.7 million**[44](index=44&type=chunk)[45](index=45&type=chunk) - On April 2, 2025, the U.S. government announced new tariffs on a range of imported goods, effective June 15, 2025. The company is assessing the potential impact on its business[68](index=68&type=chunk)[69](index=69&type=chunk) - The company's Board of Directors authorized a share repurchase program of up to **$75.0 million** on February 18, 2025, with no repurchases made to date under this program[56](index=56&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q1 2025 financial performance, including a 12% increase in net sales to $59.9 million, strategic initiatives, and operational updates like MDR CE mark progress and ERP system implementation [Overview](index=24&type=section&id=Overview) LeMaitre Vascular's overview details its three-pronged growth strategy, the significant contribution of biologic products to sales, and progress in regulatory approvals and ERP system implementation - The company's three-pronged growth strategy involves a focused call point, competing in low-rivalry niche markets, and expanding the direct sales force alongside acquisitions[72](index=72&type=chunk) - Biologic offerings represented **52%** of worldwide sales in Q1 2025[75](index=75&type=chunk) - As of May 1, 2025, the company has obtained **17 MDR CE marks** for selling devices in the European Union and expects to hold **23** by the end of 2025[82](index=82&type=chunk) - A new ERP system (Microsoft Dynamics D365) was implemented in the U.S. in February 2024 and in the UK in February 2025 to improve operations[89](index=89&type=chunk) [Results of Operations](index=28&type=section&id=Results%20of%20Operations) Q1 2025 net sales grew 12% to $59.9 million, gross margin improved to 69.2%, and operating expenses rose 16% to $28.8 million, primarily due to increased headcount and compensation Net Sales by Geography (in thousands) | Region | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Americas | $38,958 | $35,245 | +11% | | Europe, Middle East and Africa | $16,959 | $14,395 | +18% | | Asia Pacific | $3,954 | $3,838 | +3% | | **Total** | **$59,871** | **$53,478** | **+12%** | - Gross margin increased by **60 basis points** to **69.2%** in Q1 2025, up from **68.6%** in Q1 2024, due to manufacturing efficiencies, lower obsolescence charges, and price increases[105](index=105&type=chunk)[106](index=106&type=chunk) - Sales and marketing expenses increased **22%** to **$14.2 million**, and General and administrative expenses increased **16%** to **$10.5 million**, primarily due to higher headcount and compensation[107](index=107&type=chunk)[108](index=108&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company held $25.3 million in cash and $277.2 million in marketable securities, with $9.0 million net cash from operations, and believes its resources are sufficient for the next twelve months - As of March 31, 2025, the company had **$25.3 million** in cash and cash equivalents and **$277.2 million** in short-term marketable securities[116](index=116&type=chunk) Q1 2025 Cash Flow Summary (in thousands) | Activity | Amount | | :--- | :--- | | Cash from Operating Activities | $9,039 | | Cash used in Investing Activities | ($4,320) | | Cash used in Financing Activities | ($5,239) | - A quarterly cash dividend of **$0.20 per share** was paid in Q1 2025, totaling **$4.5 million**. A similar dividend was approved for Q2 2025[133](index=133&type=chunk) - The company believes its existing cash, investments, and future cash flows will be sufficient to fund operating expenses, capital expenditures, and convertible note payments for at least the next twelve months[124](index=124&type=chunk) [Quantitative and Qualitative Disclosure about Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosure%20about%20Market%20Risk) The company is exposed to market risks from interest rate and foreign currency exchange rate fluctuations, with no material changes reported since the 2024 year-end report - The company is exposed to interest rate and foreign currency exchange risks. There has been no material change in this risk profile since the 2024 Form 10-K[137](index=137&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, while noting ongoing changes to internal controls due to ERP system implementation - Management concluded that as of March 31, 2025, the company's disclosure controls and procedures were effective at the reasonable assurance level[140](index=140&type=chunk) - The phased implementation of a new ERP system, which began in February 2024, is expected to continue to cause changes to internal controls over financial reporting[141](index=141&type=chunk) Part II. Other Information [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine legal matters but anticipates no material adverse effect on its financial position, results, or cash flows from current proceedings - The company states that there are no ongoing legal matters that are expected to have a material adverse effect on its financial condition or operations[144](index=144&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) This section supplements 2024 10-K risk factors, highlighting potential negative impacts from global economic conditions, tariffs, and product recalls, including a recent immaterial packaging seal issue - Adverse global economic conditions, including tariffs and trade tensions, could negatively affect the company's business and financial results[146](index=146&type=chunk) - In April 2025, the company voluntarily notified regulatory bodies and customers of an inadequate packaging seal on certain catheter products, which may result in a compromised sterile barrier. The financial impact is expected to be immaterial[148](index=148&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered equity sales, repurchased 6,065 shares for employee tax obligations, and has a $75.0 million authorized share repurchase program with no purchases made to date - In Q1 2025, the company repurchased **6,065 shares** to cover employee taxes on vested equity awards[150](index=150&type=chunk) - A **$75.0 million share repurchase program** was authorized on February 18, 2025, and remains fully available as no shares have been repurchased under it to date[150](index=150&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information) Chairman and CEO George W. LeMaitre adopted a Rule 10b5-1 trading plan on March 10, 2025, for the potential sale of up to 250,000 shares of common stock through March 10, 2027 - Chairman and CEO George W. LeMaitre adopted a Rule 10b5-1 trading plan on March 10, 2025, for the sale of up to **250,000 shares of common stock** through March 10, 2027[151](index=151&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL data files

Company Overview - LeMaitre Vascular, Inc. is a provider of devices, implants, and services for the treatment of peripheral vascular disease, which affects over 200 million people globally [2] - The company develops, manufactures, and markets both disposable and implantable vascular devices tailored to the needs of vascular surgeons [2] Upcoming Event - David Roberts, the President of LeMaitre, will present at the Bank of America Securities 2025 Healthcare Conference on May 13, 2024, at 5:00 PM PDT in Las Vegas, NV [1]

Group 1 - LeMaitre Vascular reported quarterly earnings of $0.48 per share, missing the Zacks Consensus Estimate of $0.50 per share, but showing an increase from $0.44 per share a year ago, resulting in an earnings surprise of -4% [1] - The company posted revenues of $59.87 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.59%, compared to year-ago revenues of $53.48 million [2] - Over the last four quarters, LeMaitre has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call, with LeMaitre shares losing about 1.5% since the beginning of the year, while the S&P 500 declined by -5.3% [3] - The current consensus EPS estimate for the coming quarter is $0.59 on revenues of $61.31 million, and for the current fiscal year, it is $2.25 on revenues of $240.41 million [7] - The Zacks Industry Rank indicates that the Medical - Products sector is currently in the bottom 28% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

LeMaitre Vascular (LMAT) Q1 2025 Earnings Call May 01, 2025 05:00 PM ET Company Participants Dorian LeBlanc - CFOGeorge LeMaitre - Chairman & CEOShaymus Contorno - Equity Research AssociateDavid Roberts - President & DirectorMichael Petusky - Managing DirectorRick Wise - Managing Director - Medical Technology & SuppliesDaniel Stauder - Director - Equity Research Conference Call Participants Michael Sarcone - AnalystFrank Takkinen - Senior Research AnalystJim Sidoti - AnalystBrett Fishbin - Vice President & ...