LeMaitre Vascular, Inc. reported fourth‑quarter 2025 revenue of $64.45 million, a 16% year‑over‑year increase that exceeded the consensus estimate of $62.98 million. Earnings per share rose to $0.68, beating the $0.66 estimate by $0.02 and reflecting a 47% jump in operating income to $18.8 million.
The revenue lift was driven by strong performance across the company’s core product lines: grafts grew 27%, valvulotomes 20% and carotid shunts 18%. International expansion of the Artegraft platform also contributed, with EMEA sales up 29%, APAC 20% and the Americas 10%. The mix shift toward higher‑margin items helped sustain growth.
Gross margin expanded to 71.7%, up 240 basis points from the prior year, driven by higher average selling prices and manufacturing efficiencies. The margin improvement offset the modest increase in raw‑material costs and supported the operating‑income growth.
Operating income climbed to $18.8 million, a 47% year‑over‑year gain, thanks to the combined effect of revenue growth and margin expansion. Management highlighted disciplined spending as a key factor in preserving profitability.
LeMaitre raised its 2026 revenue guidance to $280 million, a 12% increase from the previous outlook, and lifted operating‑income guidance to $77.8 million, up 21% on an adjusted basis. The company also announced a 25% increase in its quarterly dividend, raising the payment to $0.25 per share, payable March 26 2026, and launched a $100 million share‑repurchase program.
Comparing to the prior year, Q4 2024 revenue was $55.71 million and EPS was $0.49, indicating that the current quarter’s performance represents a clear acceleration in both top‑line and profitability.
Market reaction to the results was muted; the stock slipped 0.51% in after‑hours trading, suggesting that investors were balancing the positive earnings beat against broader valuation concerns and profit‑taking after a recent run‑up.
CEO George LeMaitre said, "International Artegraft growth, higher ASPs and disciplined spending produced 16% Q4 sales growth and 47% op. income growth." CFO Dorian LeBlanc added, "Q4 organic revenue growth was 15%, with 9% price growth and 6% unit growth."
The company noted a cyber incident in January 2026 that caused minimal disruption to sales and manufacturing, and the 2026 guidance incorporates the estimated impact of that event.
LeMaitre’s results and forward guidance signal strong confidence in continued demand for its vascular products, a resilient pricing strategy, and disciplined cost management, positioning the company for sustained growth in 2026 and beyond.
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