LeMaitre Vascular, Inc. reported a significant increase in financial performance for the second quarter of 2025, with net sales reaching $64.2 million, a 15% increase from $55.8 million in the same period last year. For the first half of 2025, the company recorded net sales of $124.1 million, up 14% from $109.3 million in the prior year. The growth was attributed to higher average selling prices, increased unit volumes, and an expanded sales force. The company also noted that a weaker U.S. dollar contributed approximately $1.0 million to sales in the second quarter.
Gross profit for the second quarter increased by 17% to $45.0 million, with a gross margin of 70.0%, compared to 68.9% in the previous year. This improvement was driven by greater manufacturing efficiencies and a favorable product mix, despite rising shipping and warehousing costs. Operating income for the first half of 2025 was $28.8 million, compared to $26.3 million in the same period of 2024. The company’s net income for the second quarter was $13.8 million, or $0.60 per diluted share, compared to $11.8 million, or $0.52 per diluted share, in the prior year.
LeMaitre Vascular has also made strategic moves to enhance its market position, including the ongoing transition to a direct sales model in various international markets. As of June 30, 2025, the company employed 163 sales representatives, a 10% increase from the previous year. The company has been actively pursuing regulatory approvals for new products in key markets, with recent approvals for several devices in Japan, China, and the European Union. The company anticipates holding 22 CE and UKCA marks by the end of 2025, covering nearly all its product offerings in these regions.
In terms of operational metrics, LeMaitre Vascular's total current assets increased to $430.1 million as of June 30, 2025, up from $402.2 million at the end of 2024. The company’s cash and cash equivalents also rose to $27.2 million, compared to $25.6 million at the end of the previous fiscal year. The company has authorized a stock repurchase program of up to $75 million, although no repurchases have been made to date. Looking ahead, LeMaitre Vascular expects to continue leveraging its direct sales strategy and product innovation to drive growth, while managing costs and expanding its market presence.
About LEMAITRE VASCULAR INC
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