Q2 2026 LeMaitre Vascular Inc Earnings Call Transcript
Key Points
- LeMaitre Vascular Inc (LMAT) reported strong Q2 2026 results with 10% organic sales growth and 23% EPS growth, driven by higher ASPs and disciplined spending.
- Artegraft continues to be a major growth driver, with sales up 34% in Q2, accounting for 21% of total sales, and international expansion progressing well with approvals in 56 countries.
- The company is investing in infrastructure, including seven new or expanded warehouses, which is expected to improve customer connections and reduce shipping costs, contributing to margin expansion.
- Gross margin improved by 210 basis points year-over-year to 72.1%, supported by higher ASPs, reduced shipping costs, and a favorable product mix from high-margin Artegraft sales.
- The company maintains a strong balance sheet with $376 million in cash and securities, and continues to generate solid cash flow from operations.
- LeMaitre Vascular Inc (LMAT) missed its Q2 2026 sales guidance by $1.1 million due to a stronger US dollar, Middle East war-related export delays, and cardiac allograft supply constraints.
- Catheter sales declined 11% in Q2 due to recall-driven overstocking in the prior year, negatively impacting overall growth.
- The QuickStick project faces a potential clinical trial requirement, which could delay the timeline by years and require significant investment.
- Cardiac allograft supply constraints are hampering growth, with the company expecting slower growth in H2 2026 due to anticipated supply issues.
- The company reduced its full-year organic revenue growth guidance from 12% to 11% and lowered operating income guidance due to FX headwinds, export disruptions, and RFA supply constraints.
Welcome to LeMate Vascular quarter 2 2026 financial results conference call. As a reminder, today's call is being recorded.
At this time, I would like to turn the call over to Mr. Dorian LeBlanc, Chief Financial Officer of LeMate Vascular. Please go ahead, sir.
Good afternoon, and thank you for joining us for our Q2 2026 conference call. With me on today's call is our CEO, George Lemait and our President, Dave Roberts. Before we begin, I'll read our safe harbor statement.
Today, we will make some forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1,995, the accuracy of which is subject to risks and uncertainties. Wherever possible, we will try to identify those forward-looking statements by using words such as believe, expect, anticipate, pursue, forecast, might, and similar expressions.
Our forward-looking statements are based on our estimates and assumptions as of today, August 4, 2026,
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