0001193125-26-207500
SEC filingA strong quarter marked by double-digit revenue growth and significant margin expansion, driven by pricing power, favorable product mix shifts, and the European launch of Artegraft.
LeMaitre Vascular delivered revenue of $66.6 million in the first quarter of fiscal 2026, an increase of 11.2% from $59.9 million in the comparable prior year period. This growth was driven primarily by higher average selling prices, increased unit volumes shipped to customers, and the European launch of Artegraft in the second half of 2025. The combination of pricing discipline and geographic expansion underscores the company's ability to generate organic growth across its vascular device portfolio.
Gross profit increased 16.8% to $48.4 million, with gross margin reaching 72.7%. The margin improvement was driven by sales price increases, greater manufacturing efficiencies, and a favorable product mix shift. Notably, the decision to end the distribution agreement with Elutia reduced sales of comparatively lower-margin porcine patches, contributing to the overall margin profile. Operating income rose 40.8% to $17.8 million, yielding an operating margin of 26.7%. The significant outperformance of operating income relative to revenue growth reflects disciplined expense management, as increased compensation costs from higher headcount and wage increases were more than offset by the gross margin expansion. Net income increased 42.4% to $15.7 million, with diluted EPS reaching $0.68 compared to $0.48 in the prior year.