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Dec 31, 2025
LeMaitre Vascular Q4 2025 Earnings Report
LeMaitre Vascular Q4 2025 Earnings Report
Key Takeaways
LeMaitre Vascular reported strong Q4 2025 results with a 16% increase in sales and a 47% surge in operating income, driven by higher average selling prices and manufacturing efficiencies. The company also announced a 25% dividend increase and a new $100 million share repurchase program.
Q4 sales grew 16% to $64.5 million, with organic growth at 15% led by Grafts and Valvulotomes.
Operating income increased 47% to $18.8 million, benefiting from a gross margin expansion to 71.7%.
The quarterly dividend was raised by 25% to $0.25 per share, reflecting strong cash flow and balance sheet strength.
International growth was a major driver, with EMEA sales increasing 29% and APAC sales increasing 20%.
Revenue by Geographic Location
Forward Guidance
LeMaitre provided optimistic guidance for 2026, projecting full-year sales of $280 million and adjusted operating income growth of 21%.
Positive Outlook
- Full year 2026 sales guidance midpoint of $280 million (+12%).
- Projected 2026 gross margin of 72.1%.
- Expected 21% growth in adjusted operating income for the full year.
- Anticipated 22% growth in adjusted EPS for 2026.
- Strong international growth momentum in Artegraft and other core products.
Challenges Ahead
- Q1 2026 operating margin expected to be 26%, lower than Q4 2025 levels.
- Impact of currency exchange rate fluctuations on projected sales.
- Dependence on sole- or limited-source suppliers.
- Risks associated with the implementation of a new enterprise resource planning system.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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