LeMaitre Vascular, Inc. reported a net sales increase of 11% for the first quarter of 2026, reaching $66.6 million compared to $59.9 million in the same period of 2025. The growth was primarily driven by higher average selling prices and increased unit volumes, particularly in grafts, valvulotomes, and shunts. The company also noted that a weaker U.S. dollar contributed approximately $2.0 million to net sales during the quarter. Gross profit rose 17% to $48.4 million, with gross margin improving to 72.7% from 69.2% a year earlier, attributed to better manufacturing efficiencies and a favorable product mix.
Operating income for the quarter was $17.8 million, up from $12.6 million in the prior year, while net income increased to $15.7 million from $11.0 million. Earnings per share also saw an increase, with basic earnings per share rising to $0.69 from $0.49, and diluted earnings per share increasing to $0.68 from $0.48. The company declared a quarterly cash dividend of $0.25 per share, up from $0.20 in the previous year, reflecting its commitment to returning value to shareholders.
In terms of operational developments, LeMaitre Vascular's sales force expanded to 158 representatives as of March 31, 2026, a 3% increase from the previous year. The company continues to focus on direct-to-hospital sales, which accounted for 96% of total net sales in the first quarter. Geographically, sales in the Americas increased by 7%, while Europe, the Middle East, and Africa saw a 20% rise, and the Asia Pacific region experienced an 18% increase. The company is also actively pursuing regulatory approvals for new products and expanding its market presence.
Strategically, LeMaitre Vascular is focused on acquisitions to enhance its product offerings. In December 2025, the company agreed to acquire the AndraValvulotome business for $1.8 million, with additional contingent payments. The company has also made decisions to wind down certain product lines that were not commercially viable, including the cardiovascular porcine patch distribution agreement with Elutia. Looking ahead, LeMaitre Vascular aims to continue its growth trajectory through product innovation, geographic expansion, and strategic acquisitions, while managing its operational efficiencies and maintaining strong financial health.
About LEMAITRE VASCULAR INC
LeMaitre Vascular is a global provider of medical devices and human tissue cryopreservation services for treating vascular, renal, and cardiovascular diseases. Its product portfolio includes biologic patches, grafts, shunts, and surgical closure systems used primarily in open vascular surgeries. The company serves vascular surgeons and related specialists worldwide, leveraging a direct sales force and strategic acquisitions to maintain a competitive edge in niche markets.
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