LeMaitre Vascular(LMAT)
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LeMaitre Vascular (LMAT) Investor Presentation - Slideshow
2022-03-14 17:49
LeMaitre Vascular, Inc. Investor Presentation 1 Disclaimers Unaudited Quarterly & 2021 Financial Results The quarterly and 2021 financial results in this document are unaudited. Forward-Looking Statements This document contains certain forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Actual results and events may differ significantly from results and events described in forward-looking statements. Factors that ...
LeMaitre Vascular(LMAT) - 2021 Q4 - Annual Report
2022-02-28 22:11
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-33092 LEMAITRE VASCULAR, INC. (Exact name of registrant as specified in its charter) Delaware 04-2825458 (State o ...
LeMaitre Vascular(LMAT) - 2021 Q4 - Earnings Call Transcript
2022-02-25 01:05
Financial Data and Key Metrics Changes - Q4 2021 sales increased by 5% to $39.5 million, with a 19% increase in total sales for 2021 to $154.4 million compared to 2020 [8][15] - Operating income for Q4 2021 was $8.3 million, a decrease of 13% year-over-year, while net income and operating income both grew by 27% for the full year 2021 [17][16] - Gross margin for Q4 2021 was 65.7%, a 70 basis point increase from Q4 2020, driven by average selling price increases and favorable sales mix [17] Business Line Data and Key Metrics Changes - Artegraft sales grew by 16% year-over-year to $6.4 million, contributing significantly to Q4 sales growth [8] - Biologics accounted for 48% of sales in the quarter, with a 10% increase [33] Market Data and Key Metrics Changes - Sales in the Americas grew by 8%, while Europe saw a 1% increase, and APAC experienced a 3% decline [8] - The company expanded its international sales footprint, particularly in Korea, which was the second-largest distribution market in 2021 [11] Company Strategy and Development Direction - The company plans to continue its focus on profitability and cash generation, as evidenced by the increase in dividends for the 11th consecutive year [13] - The company is actively pursuing acquisitions and has a share repurchase program to enhance shareholder value [28] Management's Comments on Operating Environment and Future Outlook - Management noted that the Omicron variant and staffing shortages impacted Q4 sales as hospitals deferred elective surgeries [8] - For Q1 2022, the company expects sales between $37.7 million and $39.7 million, representing an 8% increase at the midpoint compared to Q1 2021 [20] Other Important Information - The company ended Q4 2021 with no debt and $70 million in cash and investments, reflecting strong cash generation [19] - The company has been hiring to address supply chain issues and to ensure no back orders [10] Q&A Session Summary Question: Will there be any fundamental changes to the execution of the LeMaitre playbook? - Management indicated that there will be no changes to the playbook [25] Question: What was the market reaction to the recent price increase on Artegraft? - An 11% price increase was implemented in January, and the market reaction was positive [26] Question: Can you break out biologics versus non-biologics in the quarter? - Biologics were 48% of sales and increased by 10% [33] Question: How did valvulotomes perform in the quarter? - Valvulotomes had a good quarter, being one of the top three growth products [34] Question: What are the expectations for spending levels going forward? - Spending levels were higher due to hiring, and management expects this trend to taper off as the year progresses [35] Question: What is the expected number of sales reps by the end of 2022? - Management expects to reach between 115 and 120 sales reps by the end of 2022 [52]
LeMaitre Vascular(LMAT) - 2021 Q3 - Quarterly Report
2021-11-04 16:50
Table of Contents 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 September 30, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-33092 LEMAITRE VASCULAR, INC. (Exact name of registrant as specified in its charter) Delaware 04-282545 ...
LeMaitre Vascular(LMAT) - 2021 Q3 - Earnings Call Presentation
2021-10-29 23:09
LeMaitre Vascular, Inc. Investor Presentation 1 Disclaimers Unaudited Quarterly Results This document contains quarterly financial results. Quarterly financial results are unaudited. Forward-Looking Statements This document contains certain forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Actual results and events may differ significantly from results and events described in forward-looking statements. Factors ...
LeMaitre Vascular(LMAT) - 2021 Q3 - Earnings Call Transcript
2021-10-29 05:13
LeMaitre Vascular, Inc. (NASDAQ:LMAT) Q3 2021 Earnings Conference Call October 28, 2021 5:00 PM ET Company Participants J.J. Pellegrino - Chief Financial Officer George LeMaitre - Chairman and Chief Executive Officer Dave Roberts - President Conference Call Participants Zachary Weiner - Jefferies Rick Wise - Stifel Javier Fonseca - Spartan Capital Brooks O’Neil - Lake Street Capital Mike Petusky - Barrington Research Scott Henry - ROTH Capital Anthony Petrone - Jefferies Operator Welcome to the LeMaitre Vas ...
LeMaitre Vascular(LMAT) - 2021 Q2 - Quarterly Report
2021-08-05 20:20
Table of Contents 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, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number 001-33092 LEMAITRE VASCULAR, INC. (Exact name of registrant as specified in its charter) Delaware 04-2825458 (State o ...
LeMaitre Vascular(LMAT) - 2021 Q2 - Earnings Call Transcript
2021-07-31 18:42
LeMaitre Vascular, Inc. (NASDAQ:LMAT) Q2 2021 Results Conference Call July 29, 2021 5:00 PM ET Company Participants J.J. Pellegrino - Chief Financial Officer George LeMaitre - Chairman and Chief Executive Officer Dave Roberts - President Conference Call Participants Rick Wise - Stifel Matthew Mishan - KeyBanc Capital Markets Michael Petusky - Barrington Research Operator Welcome to the LeMaitre Vascular Q2 2021 Financial Results Conference Call. As a reminder, today’s call is being recorded. At this time, ...
LeMaitre Vascular(LMAT) - 2021 Q1 - Quarterly Report
2021-05-10 19:38
Table of Contents 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 March 31, 2021 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 offices) (Zip Code) (781) 221-2266 (Registrant's telephone num ...
LeMaitre Vascular(LMAT) - 2021 Q1 - Earnings Call Transcript
2021-05-02 06:05
Financial Data and Key Metrics Changes - The company reported Q1 2021 sales of $35.9 million, representing a 17% year-over-year increase [13] - Operating income for Q1 was $7.9 million, an increase of 83% compared to the previous year [17] - EBITDA for Q1 was $10.5 million, with EPS of $0.28, both metrics showing an 83% improvement year-over-year [13][17] Business Line Data and Key Metrics Changes - Artegraft is projected to generate $24 million in sales for the year, reflecting a 29% growth from $18.6 million in the prior year [11] - Artegraft contributed approximately $3 million to Q1 operating income, equating to $0.09 per share [11] - Other biologic projects, including XenoSure and RestoreFlow, are expected to add $1 million and $500,000 in sales respectively for 2021 [12] Market Data and Key Metrics Changes - Sales in the Americas increased by 29%, while AsiaPac sales rose by 25%, but European sales declined by 5% [13][15] - The U.S. market was a significant driver of growth, largely due to Artegraft sales [15] Company Strategy and Development Direction - The company is focused on rebuilding its sales force, with 14 open hiring requisitions as of March 31 [9] - Expansion of warehouse facilities in multiple international locations is planned to enhance customer connections and order fulfillment [10] - The company is actively pursuing acquisitions, particularly in disposables and implantables used by vascular surgeons [39][40] Management's Comments on Operating Environment and Future Outlook - Management noted that COVID-19 continues to impact operations, particularly in Europe, but expects improvements as vaccination rates increase [8][26] - The company anticipates a sales guidance for Q2 2021 between $37 million and $40 million, representing a 55% increase year-over-year [20] - Management expressed confidence in overcoming CE mark challenges, which have been a significant headwind [24][41] Other Important Information - The company ended Q1 2021 with $32 million in total debt, having paid down $7 million during the quarter [17] - Cash reserves decreased by $3.2 million, primarily due to debt repayment, but increased by $3.8 million when excluding this repayment [17] Q&A Session Summary Question: What were the headwinds in Q1 that prevented reaching the upper end of guidance? - Management identified three main issues: CE mark delays, ongoing COVID impacts, and channel loading effects from the previous quarter [24][25] Question: How should investors view the go-forward run rate for Artegraft? - Management confirmed a projected $24 million in sales for Artegraft, with a significant price increase contributing to this growth [28][31] Question: What is the expected ramp-up time for new sales reps? - New U.S. sales reps are expected to take about six months to ramp up, while international reps may take longer due to hiring processes [46][47] Question: How is the macro environment in Europe progressing? - Management refrained from providing specific insights into the macro environment for Q2, preferring to focus on Q1 results [42] Question: What are the costs associated with obtaining CE marks? - Management indicated that the costs are significant but did not provide a specific figure, noting that it is included in R&D expenses [61][63] Question: What is the performance of XenoSure in Q1? - XenoSure sales were down approximately 5% in Q1, with expectations for recovery as CE mark issues are resolved [68]