Key Highlights

  • Net sales expanded 11% to USD 67.97 million in the quarter, with 12% organic growth powered by a 7% price lift and 5% unit growth, while grafts gained 20% and shunts 14%.
  • Diluted EPS landed at USD 0.65 versus USD 0.75 a year earlier, and the company states that figure would be 5% higher without a 2025 employee retention tax Credit benefit.
  • Gross Margin reached 71.7%, slipping 360 basis points year over year but rising 90 basis points on an adjusted footing, and Operating Income totaled USD 17.7 million.
  • Cash and marketable securities came to roughly USD 390 million, while the company spent USD 19.2 million in October on vascular Assets bought from B. Braun.

Grafts and Shunts Power an 11% Sales Gain

LeMaitre Vascular (NASDAQ:LMAT) published third-quarter figures on November 4, 2026. Net sales reached USD 67.97 million, up from USD 61.05 million. Artegraft Revenue increased 18%, EMEA climbed 18%, the Americas rose 9% and Asia Pacific 5%. The Business supplies devices and implants for peripheral vascular disease and sells mainly to vascular surgeons. Management attributes Biologics growth to Artegraft's international rollout and RestoreFlow Allografts. Headcount reached 678, up 7%, and sales representatives rose 13% to 171. Nine-month sales were USD 204.9 million, compared with USD 185.1 million, and sales and Marketing expense increased to USD 14.5 million, general and administrative to USD 12.1 million and Research and Development to USD 4.4 million.

A Tougher Prior-Year Comparison Distorts the EPS Picture

Reported EPS dropped because the 2025 quarter contained a one-time employee retention tax credit benefit that did not recur. Operating income came in at USD 17.7 million versus USD 20.3 million, a 26% margin, and Net Income was USD 15.0 million compared with USD 17.4 million. Operating expenses grew to USD 31.0 million from USD 25.6 million, up 21% as reported and 18% adjusted, which the release ties to cost discipline in the 2025 quarter. Diluted shares totaled 23.07 million against 24.39 million. Nine-month diluted EPS climbed to USD 2.07 from USD 1.84 on net income of USD 47.8 million, leaving the year still ahead. Investment income was USD 3.4 million, and convertible senior notes on the Balance Sheet were USD 169.3 million.

B. Braun Asset Purchase, Quarterly Dividend and Full-Year Guidance

In October the company paid USD 19.2 million for polyester and silver-coated grafts, valve cutters and vein strippers that generated USD 9.4 million of 2025 sales, all outside North America. The products will move into its channel over 18 to 24 months, and the company expects about USD 150,000 of fourth-quarter sales and break-even operating income from them. Full-year guidance sets sales at USD 274.8 million to USD 276.8 million and EPS at USD 2.77 to USD 2.82, while fourth-quarter sales are guided to USD 69.9 million to USD 71.9 million. The board set a quarterly dividend of USD 0.25 a share, up from USD 0.20 a year earlier, payable December 3, 2026 to holders of record on November 19, 2026.

Where Things Stand

Largely yes. LeMaitre Vascular (NASDAQ:LMAT) grew sales 11% on price and units, while the prior-year quarter held a one-off tax credit, so reported EPS fell to USD 0.65 even though the adjusted measure rose 5%. Guidance implies fourth-quarter EPS of USD 0.70 to USD 0.75. Watch the integration of the B. Braun products, Operating Expense growth and the USD 100.0 million repurchase program, which runs to February 18, 2027. The release gives no stock reaction or consensus comparison.