LeMaitre Vascular, Inc. develops, manufactures, and markets medical devices and implants used in the field of vascular surgery in the Americas, Europe, the Middle Esat, Africa, and the Asia Pacific. The company offers allografts, which are cryopreserved human tissue grafts used in vascular reconstruction, and cardiac repair and reconstruction; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature, as well as human cadaver tissue cryopreservation services. It provides a suite of biologic products comprising artegraft biologic graft, a bovine carotid artery used for dialysis access; XenoSure biologic patches used for vessel closure after surgical intervention; VascuCel and CardioCel biologic patches, used in vessel repair, heart repair and reconstruction, and neonatal repairs; carotid shunts that temporarily shunt the blood to the brain; biosynthetic vascular grafts indicated for lower extremity bypass and dialysis access; phlebectomy system for resection and ablation of varicose veins; LifeSpan vascular grafts, which are expanded polytetrafluoroethylene grafts; and vascular grafts used to bypass or replace diseased arteries. In addition, the company offers radiopaque tape, a medical-grade tape; valvulotomes, which cut or disrupt valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and closure systems to attach vessels to one another with titanium clips instead of sutures. It markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was incorporated in 1983 and is headquartered in Burlington, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $250M | $91M | $58M | $74M | 14.7% | 13.5% | 31.1% |
| 2024 | $220M | $67M | $44M | $37M | 13.1% | 13.6% | 46.3% |
| 2023 | $193M | $49M | $30M | $29M | 10.1% | 19.7% | 45.9% |
| 2022 | $162M | $37M | $21M | $22M | 7.7% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 161.65 | 193.48 | 219.86 | 249.60 |
| Operating Revenue | - | 161.65 | 193.48 | 219.86 | 249.60 |
| Cost Of Revenue | - | 56.76 | 66.44 | 68.96 | 71.06 |
| Gross Profit | - | 104.90 | 127.05 | 150.90 | 178.54 |
| Operating Expense | - | 74.96 | 89.85 | 98.64 | 110.63 |
| Research And Development | - | 13.29 | 16.97 | 15.65 | 14.14 |
| Selling General And Administration | - | 61.67 | 72.89 | 83 | 96.49 |
| Total Expenses | - | 131.72 | 156.29 | 167.61 | 181.69 |
| Operating Income | - | 29.94 | 37.20 | 52.26 | 67.91 |
| Total Operating Income As Reported | - | 26.83 | 36.71 | 52.26 | 67.91 |
| EBITDA | - | 36.92 | 48.99 | 66.69 | 90.79 |
| Normalized EBITDA | - | 40.03 | 46.40 | 61.74 | 77.69 |
| EBIT | - | 27.49 | 39.48 | 57.08 | 80.37 |
| Interest Income | 0.20 | 0.99 | 3.08 | 4.95 | - |
| Interest Expense | - | 0 | 0 | 0.20 | 5.18 |
| Net Interest Income | - | 0.99 | 0 | -0.20 | -5.18 |
| Other Non Operating Income Expenses | - | -0.32 | -0.31 | -0.12 | -0.64 |
| Other Income Expense | - | -3.43 | 2.28 | 4.82 | 12.46 |
| Interest Income Non Operating | 0.20 | 0.99 | 3.08 | 4.95 | - |
| Interest Expense Non Operating | - | 0 | 0 | 0.20 | 5.18 |
| Net Non Operating Interest Income Expense | - | 0.99 | 0 | -0.20 | -5.18 |
| Pretax Income | - | 27.49 | 39.48 | 56.88 | 75.18 |
| Tax Provision | - | 6.85 | 9.37 | 12.84 | 17.45 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.77 | 0.61 | 1.12 | 3.04 |
| Net Income Continuous Operations | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Net Income From Continuing And Discontinued Operation | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Net Income From Continuing Operation Net Minority Interest | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Net Income | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Net Income Common Stockholders | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Net Income Including Noncontrolling Interests | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Normalized Income | - | 22.97 | 28.13 | 40.21 | 47.68 |
| Diluted NI Availto Com Stockholders | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Basic Average Shares | - | 21.98 | 22.22 | 22.45 | 22.64 |
| Diluted Average Shares | - | 22.17 | 22.42 | 22.78 | 22.93 |
| Reconciled Depreciation | - | 9.43 | 9.52 | 9.61 | 10.42 |
| Reconciled Cost Of Revenue | - | 56.76 | 66.44 | 68.96 | 71.06 |
| Total Unusual Items | - | -3.11 | 2.59 | 4.95 | 13.09 |
| Total Unusual Items Excluding Goodwill | - | -3.11 | 2.59 | 4.95 | 13.09 |
| Special Income Charges | - | -3.11 | -0.48 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 3.11 | 0.48 | 0 | 0 |
| Gain On Sale Of Security | -0.12 | - | 3.08 | 4.95 | 13.09 |
| General And Administrative Expense | - | 28.74 | 31.83 | 36.26 | 42.02 |
| Other Gand A | - | 28.74 | 31.83 | 36.26 | 42.02 |
| Gain On Sale Of Ppe | 0 | 0 | - | - | - |
| Selling And Marketing Expense | - | 32.92 | 41.05 | 46.74 | 54.46 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| LeMaitre Vascular, Inc.this co. | LMAT | $2.1B | 37.03β premium | 5.43 | 14.7% | 25.28 |
| Supernus Pharmaceuticals, Inc. | SUPN | $2.6B | -67.30 | 2.44 | -3.6% | 58.94 |
| TransMedics Group, Inc. | TMDX | $2.5B | 12.96 | 5.21 | 40.2% | 16.82 |
| Acadia Healthcare Company, Inc. | ACHC | $2.3B | -2.10 | 1.19 | -56.6% | -6.55 |
| Prestige Consumer Healthcare Inc. | PBH |
| - |
| - |
| - |
| - |
| - |
| $2.2B |
| 11.31 |
| 1.14 |
| 10.1% |
| 9.47 |
| Select Medical Holdings Corporation | SEM | $2.0B | 13.99 | 1.20 | 8.6% | 9.20 |
| Neogen Corporation | NEOG | $2.0B | -1.82 | 0.96 | -52.7% | -2.94 |
| ADMA Biologics, Inc. | ADMA | $1.8B | 12.59 | 3.87 | 30.8% | 9.31 |
| Sarepta Therapeutics, Inc. | SRPT | $1.8B | -2.47 | 1.54 | -62.5% | -3.22 |
| Peer Median | - | 4.75 | 1.37 | 2.5% | 9.26 | |