LeMaitre Vascular (NASDAQ: LMAT) projects 2026 EPS rising 15%
Rhea-AI Filing Summary
LeMaitre Vascular reported strong preliminary, unaudited Q2 2026 results. Net sales were about $70.4M versus $64.2M a year earlier, with net income of $17.1M and diluted EPS of $0.74 versus $0.60. Gross margin reached 72.1%, up 210 bps, and adjusted EBITDA was $22.8M, up 20%.
Growth was led by Artegraft sales up 34%, record grafts, shunts and patches, and double-digit gains in EMEA and APAC. Organic growth excluding catheters was 12%; catheters declined 11% after prior-year recall overstocking. Cash and short-term marketable securities totaled roughly $376M and stockholders’ equity was $420.3M.
The board declared a $0.25 per-share quarterly dividend payable September 3, 2026 and previously authorized up to $100M of share repurchases through February 2027. Guidance calls for 2026 sales of $274.3M–$278.3M (midpoint $276.3M, about 11% growth) and EPS of $2.84–$2.94 (midpoint $2.89), implying 15% GAAP and 21% adjusted EPS growth versus 2025.
Positive
- Earnings and EPS grew strongly: Q2 2026 net income rose to $17.1M and diluted EPS to $0.74, both up more than 20% year over year, while adjusted EBITDA increased 20%, indicating broad profitability gains.
- Double-digit 2026 outlook: Full-year 2026 guidance targets midpoint sales of $276.3M (+11% reported and organic) and EPS of $2.89 (+15% GAAP, +21% adjusted), signaling expected continued growth.
- Artegraft and international momentum: Artegraft sales grew 34% and now represent 21% of sales, with approvals in 56 countries and double-digit regional growth in EMEA and APAC.
- Capital returns plus strong liquidity: The company holds about $376M in cash and short-term marketable securities, while authorizing up to $100M of share repurchases and paying a quarterly dividend of $0.25 per share.
Negative
- None.
Filing Explained
At
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q2 2026 Net Sales: $70,382
Q2 2026 Net Income: $17,050
Q2 2026 Diluted EPS: $0.74
+5 more
8 metrics
Q2 2026 Net Sales
$70,382
Net sales for the three months ended June 30, 2026 (amounts in thousands)
Q2 2026 Net Income
$17,050
Net income for the three months ended June 30, 2026 (amounts in thousands)
Q2 2026 Diluted EPS
$0.74
Diluted earnings per share for the three months ended June 30, 2026
Q2 2026 Gross Margin
72.1%
Gross margin for the three months ended June 30, 2026, up 210 basis points year over year
Q2 2026 Adjusted EBITDA
$22,767
Adjusted EBITDA for the three months ended June 30, 2026 (amounts in thousands), up 20%
2026 Sales Guidance Midpoint
$276.3mm
Full-year 2026 sales guidance midpoint with +11% reported and organic growth
2026 EPS Guidance Midpoint
$2.89
Full-year 2026 EPS guidance midpoint, +15% GAAP and +21% adjusted versus 2025
Share Repurchase Authorization
$100.0mm
Board-authorized common stock repurchase capacity through February 18, 2027
Key Terms
organic growth, Adjusted EBITDA, convertible senior notes, employee retention credit, +2 more
6 terms
organic growth financial
"Q2 organic growth was 12% excluding catheters."
Organic growth is the increase in a company's sales or profits that comes from its own activities, such as selling more products or services, rather than through acquisitions or mergers. It is like a plant growing taller on its own, without needing outside help. For investors, it indicates the company's ability to expand steadily and sustainably through its existing business efforts.
Adjusted EBITDA financial
"Reconciliation between GAAP and Non-GAAP Adjusted EBITDA"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
convertible senior notes financial
"Convertible senior notes, net | | | 169,091"
Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.
employee retention credit financial
"Impact of employee retention credit | | | (3,380 | )"
A government-provided payroll tax credit that reimburses employers for a portion of wages paid to staff during qualifying downturns or disruptions, designed to encourage businesses to keep employees on the payroll. For investors, it matters because the credit improves a company’s cash flow and reduces payroll expenses—like a temporary government subsidy that boosts short-term profits and may change the company’s reported tax liabilities and cash reserves, which can affect valuation and risk assessments.
non-GAAP financial measures financial
"Use of Non-GAAP Financial Measures LeMaitre management believes"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
peripheral vascular disease medical
"devices, implants, and services for the treatment of peripheral vascular disease"
Earnings Snapshot
Net sales: $70,382 · Guidance included
Quarter ended June 30, 2026
Net sales
$70,382
up from $64,232 for the quarter ended June 30, 2025
Net income
$17,050
up from $13,779 for the quarter ended June 30, 2025
Diluted EPS
$0.74
up from $0.60 for the quarter ended June 30, 2025
Gross margin
72.1%
up 210 basis points year over year
Guidance
For 2026, the company guides to sales of $274.3M–$278.3M (midpoint $276.3M, about 11% growth), operating income of $75.3M–$78.2M (midpoint $76.8M, +13% GAAP and +19% adjusted), and EPS of $2.84–$2.94 (midpoint $2.89, +15% GAAP and +21% adjusted versus 2025).
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did LeMaitre Vascular (LMAT) perform financially in Q2 2026?
LeMaitre Vascular reported Q2 2026 net sales of $70.4M and net income of $17.1M. Diluted EPS was $0.74 versus $0.60 a year earlier, with gross margin of 72.1% and adjusted EBITDA of $22.8M, up 20% year over year.
What sales guidance did LeMaitre Vascular (LMAT) provide for 2026?
For 2026, LeMaitre projects sales of $274.3M–$278.3M, with a midpoint of $276.3M. This midpoint implies about 11% total and organic growth versus 2025, reflecting expectations for continued expansion across products and regions.
What is LeMaitre Vascular (LMAT)'s EPS guidance for full-year 2026?
LeMaitre expects 2026 EPS of $2.84–$2.94, midpoint $2.89. The company states this represents 15% GAAP EPS growth and 21% adjusted EPS growth versus 2025, excluding the prior-year employee retention tax credit.
What dividend did LeMaitre Vascular (LMAT) declare and when will it be paid?
The board approved a quarterly dividend of $0.25 per share of common stock. It will be paid on September 3, 2026 to shareholders of record as of August 20, 2026, continuing the company’s cash-return program.
How strong is LeMaitre Vascular (LMAT)'s balance sheet at June 30, 2026?
As of June 30, 2026, LeMaitre held $26.6M in cash and $349.6M in short-term marketable securities. Total assets were $640.5M, stockholders’ equity was $420.3M, and convertible senior notes totaled $169.1M.
What were the key growth drivers for LeMaitre Vascular (LMAT) in Q2 2026?
Q2 growth was driven by Artegraft sales up 34%, record graft, carotid shunt and patch sales, and regional growth of +18% in EMEA, +18% in APAC and +5% in the Americas. Organic growth excluding catheters was 12%.