LeMaitre Q4 2025 Financial Results

Core Insights - LeMaitre Vascular, Inc. reported strong Q4 2025 results with a 16% increase in sales and a 47% increase in operating income, driven by growth in international markets and higher average selling prices [1][4][3] Financial Performance - Q4 2025 sales reached $64.5 million, a 16% increase compared to Q4 2024, with organic growth of 15% [9][22] - Gross margin improved to 71.7%, up 240 basis points, due to higher average selling prices and manufacturing efficiencies [3][9] - Operating income for Q4 was $18.8 million, reflecting a 47% increase, with operating expenses growing moderately by 6% [3][9] - Diluted EPS for Q4 was $0.68, a 39% increase year-over-year [21] Sales Growth Drivers - Key product categories contributing to sales growth included grafts (+27%), valvulotomes (+20%), and carotid shunts (+18%) [3] - Regional sales growth was notable, with EMEA sales increasing by 29%, APAC by 20%, and the Americas by 10% [3] Guidance and Future Outlook - For Q1 2026, the company expects sales between $65.6 million and $67.6 million, representing an 11% increase [4] - Full-year 2026 guidance anticipates sales of $280 million, a 12% increase, and operating income of $77.8 million, a 21% adjusted increase [4] - The company plans to maintain a gross margin of 72.1% for 2026 [4] Dividend and Share Repurchase - The Board of Directors approved a 25% increase in the quarterly dividend to $0.25 per share, payable on March 26, 2026 [6] - A share repurchase program was authorized for up to $100 million, set to conclude on February 18, 2027, unless extended [7]