BURLINGTON, Mass., Nov. 12, 2025 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq:LMAT) announced today that management will participate in three upcoming investor conferences. Jefferies London Healthcare Conference 2025 Tuesday, November 18, 2025Waldorf Hilton, LondonDorian LeBlanc, CFO, will present at 8:00 AM GMT Wolfe Research 7th Annual Healthcare Conference Wednesday, November 19, 2025Wolfe NYC Offices, New York, NYDavid Roberts, President, will present at 10:40 AM ET Piper Sandler 37th Annual Heal ...

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Medical device company LeMaitre Vascular (NASDAQ:LMAT) missed Wall Street’s revenue expectations in Q3 CY2025, but sales rose 11.4% year on year to $61.05 million. Next quarter’s revenue guidance of $62.8 million underwhelmed, coming in 2.9% below analysts’ estimates. Its GAAP profit of $0.75 per share was 31.5% above analysts’ consensus estimates. Is now the time to buy LMAT? Find out in our full research report (it’s free for active Edge members). LeMaitre (LMAT) Q3 CY2025 Highlights: Revenue: $61.05 ...

Market Overview - The global market for peripheral vascular devices exceeds $5 billion, with the company's product market estimated at approximately $1 billion[75]. - In Q3 2025, biologics accounted for 54% of worldwide sales, indicating a strong focus on this product segment[78]. - The company expects to hold 22 CE and UKCA approvals by the end of 2025, covering nearly all product offerings in the EU and UK[85]. Sales Performance - Net sales increased by $6.2 million, or 11%, to $61.0 million for the three months ended September 30, 2025, compared to $54.8 million for the same period in 2024[99]. - For the nine months ended September 30, 2025, net sales increased by $21.0 million, or 13%, to $185.1 million, compared to $164.1 million for the same period in 2024[103]. - Direct-to-hospital net sales accounted for 95% of total net sales for both the three and nine months ended September 30, 2025, and 2024[102][104]. - Net sales in the Americas increased by $3.4 million, or 10%, for the three months ended September 30, 2025, compared to the same period in 2024[104]. - EMEA net sales increased by $2.6 million, or 18%, for the three months ended September 30, 2025, compared to the same period in 2024[106]. - APAC net sales increased by $0.7 million, or 6%, for the nine months ended September 30, 2025, compared to the same period in 2024[109]. Financial Metrics - Gross profit for the three months ended September 30, 2025, increased by $8.8 million, or 24%, to $46.0 million, with a gross margin of 75.3%, up from 67.8% in 2024[111]. - For the nine months ended September 30, 2025, the company reported an operating income of $49.1 million, an increase from $39.4 million for the same period in 2024[134]. - Cash and cash equivalents as of September 30, 2025, were $25.5 million, slightly down from $25.6 million as of December 31, 2024[127]. - Net cash provided by operating activities was $58.1 million for the nine months ended September 30, 2025, compared to $28.9 million for the same period in 2024[136][137]. - Net cash used in investing activities was $48.1 million for the nine months ended September 30, 2025, primarily due to purchases of marketable securities totaling $43.0 million[140]. Expenses - Sales and marketing expenses increased by 20% to $41.0 million for the nine months ended September 30, 2025, driven by higher sales representative headcount and wage increases[114]. - General and administrative expenses increased by 18% to $31.6 million for the nine months ended September 30, 2025, primarily due to higher headcount and wage increases[116]. - Research and development expenses decreased by 12% to $10.6 million for the nine months ended September 30, 2025, driven by lower third-party service fees[119]. Strategic Decisions - The company aims to grow its direct sales force and increase average selling prices of devices as part of its business strategy[80]. - The decision to wind down certain product lines resulted in approximately $2.2 million in revenues in 2021 and $0.7 million in 2022[86]. - The transition to direct sales in various countries, including Korea and Thailand, involved termination fees totaling approximately $1.2 million[91]. Regulatory and Taxation - The company received regulatory approvals for multiple products, including the XenoSure patch in Japan and the Artegraft bovine graft in the EU, enhancing market access[84][85]. - The effective income tax rate for the three months ended September 30, 2025, was 23.0%, compared to 23.4% for the same period in 2024[120][121]. - The company recorded a tax provision of $5.2 million on pre-tax income of $22.6 million for Q3 2025, up from a $3.4 million provision on pre-tax income of $14.6 million in Q3 2024[120]. Capital and Dividends - The company authorized a stock repurchase program of up to $75.0 million, which may be executed until February 17, 2026[128]. - The company issued $172.5 million in convertible senior notes due 2030, with a net proceeds of approximately $167.7 million after debt issuance costs[129][130]. - The Board of Directors approved a quarterly cash dividend of $0.20 per share for Fiscal Year 2025, totaling $4,517,000 for the payment on March 27, 2025[144]. - For Fiscal Year 2024, the quarterly cash dividend was $0.16 per share, with total payments of $3,589,000, $3,593,000, $3,596,000, and $3,600,000 for each quarter[144]. Accounting Policies - The company has not made any material changes to its critical accounting policies and estimates as disclosed in the 2024 Form 10-K[146]. - There are no significant changes in foreign currency risk or interest rate risk from the previous disclosures in the 2024 Form 10-K[148].

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Financial Data and Key Metrics Changes - Q3 2025 organic sales growth was 12%, with reported revenue growth of 11% impacted by a $1.3 million reduction due to the Z-Medica distribution exit [7][10] - Reported gross margin was 75.3%, while adjusted gross margin was 70.8%, reflecting a 300 basis point year-over-year increase [8][9] - Reported operating income was $20.3 million, with an operating margin of 33% [8] - Adjusted net income increased 27% year-over-year to $14.2 million, with adjusted fully diluted EPS at $0.62, also up 27% [9] Business Line Data and Key Metrics Changes - Sales from grafts increased by 23%, and shunts grew by 18% in Q3 [4] - Excluding catheters, Q3 organic growth was 14% [7] - Autograft sales grew 33% worldwide in Q3, with Q2 sales at $420,000 and Q3 sales at $1.4 million, expecting Q4 sales of $2 million [4][5] Market Data and Key Metrics Changes - AMEA region grew by 18%, the Americas by 10%, and APAC by 4% [4] - 55% of North American revenue is now subject to price floors, indicating a strategic pricing approach [6][41] Company Strategy and Development Direction - The company is focusing on profitable growth, with guidance for Q4 indicating a 40% operating income growth and a 29% operating margin [6][10] - Plans to open a new 34,000 sq ft distribution center in Q1 2026 to support growth [6] - The company is investing in sales force expansion and regulatory approvals, with expectations for Autograft approvals in Canada and Korea in 2026 [4][5] Management's Comments on Operating Environment and Future Outlook - Management noted challenges in the APAC region, attributing some struggles to management changes and a recent catheter recall affecting sales [12][13] - The company anticipates continued strong performance in 2025, with full-year revenue guidance of $248 million, reflecting 13% growth [10] - Management expressed confidence in the strength of their product channels and the positive impact of recent approvals on future growth [33][45] Other Important Information - The company ended Q3 with $343.1 million in cash and securities, an increase of $23.6 million [9] - The company received $4.8 million from the employee retention tax credit, impacting several P&L line items [7] Q&A Session Summary Question: Revenue guidance changes and lower organic growth expectations - Management explained that the catheter recall led to front-loading sales into Q2, affecting Q3 and Q4 growth, with some impact from foreign exchange [12][14][15] Question: Future gross margin expectations - Management indicated that while they are not ready to guide on 2026, they have seen a positive trend in gross margins and expect continued improvements [16] Question: Price increase strategy for 2026 - Management discussed the rationale behind the 8% price floor, indicating a blended approach across different product categories [19][20] Question: Key product lines and geographies for growth - Management highlighted Autograft and Allografts as key growth drivers, along with XenoSure in the peripheral vascular segment [31][33] Question: Capital deployment strategy and M&A plans - Management noted that while they have a strong cash balance, they are not rushing into acquisitions and are maintaining high standards for potential deals [35][37] Question: Price floors and R&D spending - Management clarified that 55% of North American revenue is subject to price floors and discussed plans to increase R&D spending over time [40][42] Question: Performance of cardiac patches and market trends - Management reported strong growth in cardiac allografts and noted that the cardiac segment is growing faster than peripheral vascular [92][93] Question: Growth in carotid shunts - Management attributed the 18% growth in carotid shunts to market share gains following a competitor's exit from the market [96][97]

Medical device company LeMaitre Vascular (NASDAQ:LMAT) fell short of the markets revenue expectations in Q3 CY2025, but sales rose 11.4% year on year to $61.05 million. Next quarter’s revenue guidance of $62.8 million underwhelmed, coming in 2.9% below analysts’ estimates. Its GAAP profit of $0.75 per share was 31.5% above analysts’ consensus estimates. Is now the time to buy LeMaitre? Find out in our full research report. LeMaitre (LMAT) Q3 CY2025 Highlights: Revenue: $61.05 million vs analyst estimate ...

BURLINGTON, Mass., Nov. 06, 2025 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq: LMAT), a provider of vascular devices, implants, and services, today reported Q3 2025 results, announced a quarterly dividend of $0.20/share, and provided guidance. Q3 2025 results include a non-recurring benefit from the Employee Retention Tax Credit. Non-GAAP adjusted figures exclude this benefit. A reconciliation of GAAP to non-GAAP results is included. Q3 2025: Sales $61.0mm, +11% (+12% organic)Gross margin 75.3% (+750 ...

Financial Performance - Q3 2025 sales reached $61.0 million, an increase of 11% year-over-year, with organic growth of 12%[4] - Adjusted operating income for Q3 2025 was $16.9 million, a 29% increase compared to the previous year[4] - Net income for the three months ended September 30, 2025, was $17,362,000, compared to $11,141,000 for the same period in 2024, marking a 55.7% increase[20] - Adjusted EBITDA for the three months ended September 30, 2025, was $19,238,000, reflecting a 22% increase compared to $15,776,000 in the same period of 2024[27] - Basic earnings per share for the three months ended September 30, 2025, was $0.77, up from $0.50 in the same period of 2024[20] - The company reported an operating margin of 33% for the three months ended September 30, 2025, down from 27% in the previous year[24] Sales and Growth - Grafts and Shunts sales grew by 23% and 18% respectively, with Artegraft experiencing a 33% growth due to international launch[4] - The company provided Q4 2025 sales guidance of $61.8 million to $63.8 million, representing a 13% increase year-over-year[5] - Full year 2025 sales guidance is set at $247 million to $249 million, also reflecting a 13% increase[5] - The company projects full-year net sales guidance for 2025 at $248,000,000, with an adjusted projected net sales increase of 13% for the year[26] - The Americas accounted for 64% of net sales in Q3 2025, with sales of $39,218,000, up from $35,802,000 in Q3 2024[21] Profitability and Margins - Adjusted gross margin improved to 70.8%, up from 67.8% in Q3 2024, driven by higher average selling prices and manufacturing efficiencies[4] - Gross profit for the three months ended September 30, 2025, was $45,955,000, representing a gross margin of 75.3%[22] - Total operating expenses for the three months ended September 30, 2025, were $25,643,000, compared to $24,030,000 in Q3 2024[20] - Cash dividends declared per common share increased to $0.20 for the three months ended September 30, 2025, compared to $0.16 in the same period of 2024[20] Financial Position - Cash reserves increased by $23.6 million sequentially to $343.1 million[8] - Total assets increased to $598,006,900 from $551,817,000[19] - Current assets totaled $452,025,400, with cash and cash equivalents at $254,949[19] - Total liabilities amounted to $219,146,221, up from $155,181,717[19] - Accounts receivable net reached $324,163,630, reflecting a significant increase[19] - Goodwill remained stable at $65,945,656, indicating no impairment[19] - Total current liabilities were $332,873,060, with accounts payable at $346,565[19] - Retained earnings stood at $173,670,145, showing a positive growth trend[19] - The company reported a total stockholders' equity of $378,923,333, up from $372,929,900[19] - The net inventory and other deferred costs were reported at $70,793,936[19] - The company has maintained a strong cash position with short-term marketable securities at $317,561,127[19] Shareholder Actions - The company announced a quarterly dividend of $0.20 per share, payable on December 4, 2025[6] - A share repurchase program of up to $75.0 million was authorized, set to conclude on February 17, 2026[7] Investment and Growth Strategy - The company is investing in its sales force, new international offices, and regulatory approvals to support growth[5]

Core Viewpoint - Royal Philips (PHG) is currently viewed as a better value opportunity compared to LeMaitre Vascular (LMAT) based on various valuation metrics and earnings estimate revisions [1][7]. Valuation Metrics - PHG has a forward P/E ratio of 18.60, while LMAT has a significantly higher forward P/E of 39.31 [5]. - The PEG ratio for PHG is 0.77, indicating a more favorable valuation in relation to its expected earnings growth, compared to LMAT's PEG ratio of 2.31 [5]. - PHG's P/B ratio stands at 2.31, which is lower than LMAT's P/B ratio of 5.59, suggesting that PHG is more undervalued relative to its book value [6]. Analyst Outlook - PHG holds a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision trend, while LMAT has a Zacks Rank of 3 (Hold) [3]. - The stronger estimate revision activity for PHG suggests a more favorable analyst outlook compared to LMAT [7].