Overview

• US vascular device maker's Q1 sales rose 11%, slightly beating analyst expectations

• Q1 EPS grew 42% year-over-year, driven by higher pricing and geographic expansion

Outlook

• Company sees Q2 sales of $70.5 mln to $72.5 mln, midpoint $71.5 mln, up 11%

• LeMaitre Vascular expects full-year 2026 sales of $277 mln to $283 mln, midpoint $280 mln, up 12%

• Company forecasts full-year 2026 EPS of $2.93 to $3.08, midpoint $3.00, up 19%

Result Drivers

• PRODUCT SALES - Artegraft, grafts, valvulotomes, and carotid shunts posted record sales, with Artegraft up 36% worldwide, aided by international launch

• GEOGRAPHIC EXPANSION - EMEA and APAC regions posted strong sales growth, with all three geographies reaching record sales

• GROSS MARGIN GAINS - Higher pricing and manufacturing efficiencies contributed to a 350 bps increase in gross margin

Company press release: ID:nGNX4DmlLg

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Sales	Slight Beat*	$66.55 mln	$66.53 mln (10 Analysts)
Q1 EPS		$0.68
Q1 Net Income		$15.68 mln
Q1 Gross Profit		$48.4 mln
Q1 Income From Operations		$17.78 mln
Q1 Pretax Profit		$19.67 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

• Wall Street's median 12-month price target for LeMaitre Vascular Inc is $113.00, about 0.9% above its May 5 closing price of $112.00

• The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 33 three months ago

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