Financial Data and Key Metrics - Q3 2024 sales growth was 16%, driven by 10% pricing and 6% unit growth [9] - Gross margin improved to 67.8%, up 280 basis points year-over-year, with Q4 guidance at 68% and full-year gross margin expected at 68.3% [16][17] - Operating income increased 43% year-over-year to $13.1 million, with an operating margin of 24% [17] - Cash and securities increased by $10.8 million to $124 million at the end of Q3 [18] - EPS grew 49% in Q3, with Q4 EPS guidance at $0.14 per share, up 30% [7][20] Business Line Performance - Grafts, patches, and carotid shunts grew 24%, 13%, and 18% respectively in Q3 [9] - Allograft product units grew 26%, and XenoSure product line units grew 10% [37] - RestoreFlow Allograft yields improved, contributing to gross margin expansion [16] Market Performance - APAC was the strongest region, with 24% growth, led by Thailand and Korea [9] - EMEA sales grew 22%, while the Americas grew 12% [9] - China sales increased 62% in Q3, driven by efforts in the region [11] - France saw 21% sales growth due to the new Paris office [10] Strategy and Industry Competition - The company is expanding its direct sales model with GoDirect projects in Portugal and Czechia, expected to begin in 2025 [12] - Regulatory progress includes 15 of 22 MDR CE marks received, with the remaining expected in 2025 [13] - Pricing floors have been implemented globally, contributing to a 9% average annual price increase from 2021 to 2024 [19] - The company is focusing on niche markets with differentiated products, enabling consistent price increases [29] Management Commentary on Operating Environment and Outlook - Management highlighted strong execution in pricing and operational efficiency, driving sales and margin growth [16] - The company expects continued healthy sales and profit growth for 2024 [14] - Regulatory approvals and international market expansion, particularly for allograft, remain key priorities [13] Other Important Information - The company is transitioning its CFO, with J.J. Pellegrino stepping down in March 2025 after 19 years [14] - A new CFO search is ongoing, with Russell Reynolds assisting in the process [14] - The company is consolidating its Shanghai sales office and warehouse into a larger facility [11] Q&A Session Summary Question: Geographic breakdown of price increases vs. unit growth [21] - Management did not provide a detailed geographic breakdown but acknowledged the need to prepare for such questions in future meetings [22] Question: Inventory levels and direct distribution ramp-up [23] - The company maintains ample inventory to fulfill its no-backorder promise and has capacity to triple factory output if needed [23] Question: Operating margin expansion drivers for 2025 [24] - Operating expense growth has slowed, and gross margin improvements are expected to continue, driven by direct labor efficiencies [25][26] Question: Sustainability of price increases [28] - The niche product strategy and pricing floors are expected to sustain price increases, with average annual hikes of 9% since 2021 [29][30] Question: Sales rep expansion and confidence in targets [31] - The company is confident in reaching its year-end target of 155-160 sales reps, with 149 currently onboard and more hires planned [32][33] Question: R&D spending trends [35] - R&D spending was lower in Q3 due to reduced regulatory costs, with potential benefits expected going forward [35] Question: Distribution strategy and brick-and-mortar expansion [38] - The company is pursuing distributor buyouts in Czechia and Portugal while expanding direct operations in China, France, and Switzerland [39][40] Question: Pricing strategy sustainability [41] - Pricing floors have proven effective, and the company expects continued pricing momentum [42] Question: Product-specific price increases [43] - Price increases are concentrated in high-market-share products like valvulotomes, shunts, and biologic grafts [43] Question: Top-line growth drivers [45] - Allograft sales grew 47%, and European market exits by competitors have created opportunities [46][47] Question: Sales rep expansion in Europe [50] - The company plans to add more reps in Europe, with nine open territories and additional needs in Czechia and Portugal [50] Question: XenoSure cardiac patch approval in China [52] - The final submission for XenoSure approval in China has been made, with a decision expected in six months [52] Question: CFO transition and qualifications [53] - The company is seeking a CFO with public company and med-tech experience, with a focus on technical expertise [55] Question: Gross margin sustainability [57] - Gross margins are expected to remain strong, supported by pricing and manufacturing efficiencies, though RestoreFlow growth may exert some pressure [57][58] Question: M&A activity and valuation trends [59] - The company is exploring larger acquisitions, with a focus on strategic fit and financial discipline [60][61] Question: Leverage capacity for large deals [62] - The company could finance deals up to $300 million, combining bank debt and excess cash [65] Question: Price floor rollout status [68] - Price floors have been implemented in major markets, with potential for further expansion [68] Question: Allograft approval timelines in Ireland and Germany [69] - Delays in Germany and Ireland due to regulatory and logistical challenges may push approvals into 2025 or 2026 [69][70] Question: Impact of pending MDR CE marks [73] - The allograft approval is the most impactful, with other approvals having less immediate significance due to existing MDD CE marks [73] Question: M&A discipline and deal timing [74] - The company remains disciplined in its M&A approach, focusing on the right deal at the right price [74][75] Question: Targeting cardiac surgeons and sales force strategy [77] - Cardiac sales account for 14% of total sales, with potential for dedicated cardiac reps in the future [77][78] Question: Cross-selling opportunities with growing sales force [79] - The U.S. offers low-hanging fruit for cross-selling, with plans to split high-performing territories [79]

LeMaitre Vascular (LMAT) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.36%. A quarter ago, it was expected that this medical device maker would post earnings of $0.47 per share when it actually produced earnings of $0.52, delivering a surprise of 10.64%.Over the last four quarter ...

BURLINGTON, Mass., Oct. 31, 2024 (GLOBE NEWSWIRE) -- LeMaitre (Nasdaq:LMAT), a provider of vascular devices, implants, and services, reported Q3 2024 results, announced a $0.16/share quarterly dividend, and provided guidance. Q3 2024 Financial Results Sales $54.8mm, +16% (+16% organic) vs. Q3 2023Gross margin 67.8%, +280 bpsOp. income $13.1mm, +43%Op. margin 24%Earnings per diluted share $0.49, +46%Cash up $10.8mm sequentially to $123.9mm Grafts (+24%), patches (+13%) and carotid shunts (+18%) drove Q3 sale ...

Exhibit 99.1 LeMaitre Q3 2024 Financial Results BURLINGTON, MA, October 31, 2024 - LeMaitre (Nasdaq:LMAT), a provider of vascular devices, implants, and services, reported Q3 2024 results, announced a $0.16/share quarterly dividend, and provided guidance. Q3 2024 Financial Results ● Sales $54.8mm, +16% (+16% organic) vs. Q3 2023 ● Gross margin 67.8%, +280 bps ● Op. income $13.1mm, +43% ● Op. margin 24% ● Earnings per diluted share $0.49, +46% ● Cash up $10.8mm sequentially to $123.9mm Grafts (+24%), patches ...

BURLINGTON, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq:LMAT) announced today that it will release its third quarter 2024 financial results on Thursday, October 31, 2024, after the market close. The company has scheduled a conference call for 5:00 PM ET the same day to discuss the results, business highlights, and company outlook. Access to the live call is available by registering online here. All registrants will receive dial-in information and a PIN allowing them to access th ...

BURLINGTON, Mass., Aug. 27, 2024 (GLOBE NEWSWIRE) -- LeMaitre Vascular, Inc. (Nasdaq:LMAT) announced today that management will be participating in three upcoming investor conferences in September. Morgan Stanley 22nd Annual Global Healthcare Conference Wednesday, September 4, 2024 New York Marriott Marquis, New York, NY David Roberts, President, will present at 5:35 PM EST Barrington Research Fall Investment Conference (Virtual) Thursday, September 12, 2024 George W. LeMaitre, Chairman & CEO, is scheduled ...

Investors might want to bet on LeMaitre Vascular (LMAT) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a ...

Financial Data and Key Metrics Changes - In Q2 2024, the company achieved 12% organic sales growth and 44% EPS growth [4][8] - Gross margin increased to 68.9%, up 490 basis points year over year, driven by productivity improvements and higher average selling prices (ASPs) [8] - Operating income rose 52% year over year to $14.4 million, with an operating margin of 26% [9] Business Line Data and Key Metrics Changes - Seven out of twelve product lines posted record sales, with RestoreFlow allografts up 30%, bovine patches up 12%, and shunts up 22% [4] - The Americas saw a 10% increase in sales, while AMEA sales were up 13% [5] - Canada and the UK experienced significant growth, with increases of 33% and 27% respectively, largely due to RestoreFlow [5] Market Data and Key Metrics Changes - The APAC region was the strongest, with a 20% increase in sales, driven by Thailand and Korea [4] - The company has received 14 of the 22 MDR CE Marks it is seeking, with expectations to receive the remaining approvals in 2025 [6] Company Strategy and Development Direction - The company is focusing on expanding its sales force, targeting 155 to 160 representatives by year-end, primarily in North America [5] - There is an ongoing evaluation of direct market opportunities in Europe, including countries like Portugal and Poland [5] - The company aims to leverage its regulatory approvals to capture market share, particularly in Europe where competition has decreased [6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for continued healthy sales and profit growth in 2024, with guidance for mid-teens sales growth in the latter half of the year [9] - The company is cautious about future operating margins, indicating a focus on sustainable growth rather than short-term margin maximization [16] Other Important Information - The company ended Q2 2024 with $113 million in cash and securities, reflecting a $4.8 million increase during the quarter [9] - The company is actively pursuing M&A opportunities, with a focus on larger deals as its cash balance grows [22][49] Q&A Session Summary Question: Sales force expansion and its implications - Management discussed the rationale behind expanding the sales force, emphasizing the need to address large territories and drive sales growth [11][12] Question: Operating margins and future potential - Management provided insights into sustainable drivers for operating margins, indicating that maintaining top-line growth while controlling operating expenses is key [15][16] Question: Updates on M&A activities - The acquisitions department is active, seeking targets that align with the company's strategic focus, with an emphasis on larger deals as cash reserves grow [22][49] Question: Pricing strategy for 2025 - Management indicated that pricing decisions for 2025 will be made later in the year, with historical pricing trends suggesting potential for further increases [23][24] Question: Procedural trends in the U.S. and Europe - Management noted positive trends in hospital staffing and procedural volumes, indicating a healthy operating environment [58] Question: ERP implementation status - The company has implemented ERP in the U.S. and is now preparing for rollout in Europe, starting with the UK [60]

LeMaitre Vascular (LMAT) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 10.64%. A quarter ago, it was expected that this medical device maker would post earnings of $0.39 per share when it actually produced earnings of $0.44, delivering a surprise of 12.82%. Over the last four quart ...

Financial Performance - Q2 2024 sales reached $55.8 million, an increase of 11% year-over-year, with 12% organic growth[2] - Gross margin improved to 68.9%, up 490 basis points from 64.0% in Q2 2023[2] - Operating income was $14.4 million, reflecting a 52% increase compared to Q2 2023[2] - Net income for Q2 2024 was $11.8 million, a 46% increase year-over-year[2] - Earnings per diluted share rose to $0.52, up 44% from the previous year[2] - Net sales for the three months ended June 30, 2024, were $55,849,000, representing a 11.5% increase from $50,115,000 for the same period in 2023[12] - Gross profit for the three months ended June 30, 2024, was $38,468,000, up 20% from $32,086,000 in the prior year[12] - Net income for the three months ended June 30, 2024, was $11,826,000, compared to $8,098,000 for the same period in 2023, reflecting a 46.5% increase[12] - EBITDA for the three months ended June 30, 2024, was $16,753,000, a 40% increase from $11,963,000 in the same period last year[14] - Adjusted net sales for the three months ended June 30, 2024, increased by $5,780,000, or 12%, compared to the same period in 2023[15] Guidance and Projections - Guidance for Q3 2024 sales is projected between $52.7 million and $54.7 million, representing a 13% increase[3] - Full year 2024 sales guidance is set at $216.8 million to $220.8 million, also a 13% increase[3] - The company projects net sales for the three months ending September 30, 2024, to be approximately $53,710,000, with an adjusted increase of $6,537,000, or 14%[15] - Operating income for the year ending December 31, 2024, is projected at $51,096,000, reflecting a significant increase from the previous year[15] - The adjusted projected EPS for the year ending December 31, 2024, is $1.86, reflecting a 37% increase from the previous year[16] - The midpoint guidance for EPS for the year ending December 31, 2024, is set at $1.86[16] Dividend Information - The company announced a quarterly dividend of $0.16 per share, payable on August 29, 2024[4] - Cash dividends declared per common share increased to $0.16 for the three months ended June 30, 2024, compared to $0.14 in the same period last year[12] Cash and Expenses - Cash increased by $4.8 million sequentially to $113.1 million[2] - Operating expenses grew by only 6% year-over-year, indicating controlled cost management[2] - The company reported a total operating expense of $24,088,000 for the three months ended June 30, 2024, which is an increase from $22,634,000 in the same period last year[12] Regional Sales - The Americas accounted for 66% of total net sales for the three months ended June 30, 2024, with sales of $36,907,000[13]