Strong Organic Sales Growth
LeMaitre Vascular reported an organic sales growth of 12% in Q3 2025, with a notable increase in gross margin. This growth was primarily led by Grafts (up 23%) and Shunts (up 18%).
International Expansion Success
The international launch of Artegraft exceeded expectations with Q3 sales at $1.4 million and projected Q4 sales of $2 million. Artegraft grew 33% worldwide in Q3.
Record Gross Margin and Operating Income
Adjusted gross margin increased to 70.8%, driven by higher pricing, manufacturing efficiencies, and product mix. Adjusted operating income rose 29%, resulting in an adjusted operating margin of 28%.
Robust Cash Flow and Financial Position
LeMaitre ended Q3 with $343.1 million in cash and securities, generating $28.8 million in cash from operations and paying $4.5 million in dividends to shareholders.
Positive Pricing Strategy
The company implemented an 8% price increase for U.S. hospitals for 2026, with 55% of North American revenue now subject to price floors.
European Regulatory Approvals
LeMaitre received German approval for RestoreFlow and anticipates further EU approvals, accelerating international market entry.