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LeMaitre Vascular reported strong Q2 2026 results with 10% organic revenue growth, 72.1% gross margins, and adjusted earnings per share of $0.68, beating the consensus estimate of $0.66. Despite these solid fundamentals, shares declined following the earnings release as investors took profits. Prior to the May 5, 2026 Q1 results, LMAT shares had appreciated approximately 38% year-to-date. The stock closed at $79.00 on 5 August 2026, with a market capitalisation of $1.81 billion, down 22.85% over one month and 16.19% over 52 weeks. Asset management firm Conestoga Capital Advisors highlighted the medical device company in its Q2 investor letter, expressing confidence in LeMaitre's growth prospects. The firm cited the company's differentiated vascular product portfolio and consistent execution as key strengths.

LeMaitre Vascular missed Wall Street's revenue expectations in Q2 2026, reporting $70.38 million versus analyst estimates of $71.61 million, a 1.7% miss. Sales rose 9.6% year on year. The medical device company's GAAP profit of $0.74 per share came in 8.3% below consensus estimates. Next quarter's revenue guidance of $67.3 million disappointed, falling 3% below analysts' expectations. The company also lowered its full-year revenue guidance to $276.3 million at the midpoint from $280 million, a 1.3% decrease. LeMaitre's stock dropped 11.6% following the announcement. Chairman and CEO George LeMaitre highlighted the Artegraft international launch, which now accounts for 21% of sales and is approved in 56 countries. The company maintains $376 million in cash.

LeMaitre Vascular Q2 earnings call highlights. August 4, 2026 Key points. * Strong quarterly performance: LeMaitre Vascular delivered 10% organic revenue growth, record operating income of $20.4 million and a 24% increase in net income to $17.1 million. Artegraft sales surged 34% and reached 21% of total revenue, supporting a 72.1% gross margin. * Headwinds reduced expectations: Foreign-exchange pressure, Middle East export disruptions and cardiac allograft supply constraints caused the company to miss second-quarter sales guidance by $1.1 million and are expected to persist through the second half of 2026. * 2026 outlook lowered modestly: Management now forecasts $276.3 million in revenue and 11% organic growth, down from its prior 12% organic-growth target, while projecting $2.89 in diluted EPS. The company continues investing in Artegraft's international expansion, salesforce growth and distribution infrastructure. * Interested in LeMaitre Vascular? Here are five stocks we like better. LeMaitre Vascular NASDAQ: LMAT reported second-quarter 2026 results marked by 10% organic revenue growth, record operating income and continued expansion of its Artegraft product line, while foreign exchange, Middle East export delays and cardiac allograft supply constraints weighed on sales relative to management's expectations. Chief Executive Officer George LeMaitre said the company fell $1.1 million short of its second-quarter sales guidance. He attributed the gap in roughly equal parts to the strengthening U.S. dollar after guidance was issued in May, export disruptions tied to the Middle East war, and limited supply of cardiac allografts. Management said those factors are expected to continue affecting sales during the second half of 2026. Second-Quarter performance. Organic sales increased 10% in the quarter, including 7% growth from pricing and 3% from unit volume. Excluding catheters, organic growth was 12%, consisting of 7% price growth and 5% unit growth. Catheter sales declined 11% from the prior-year period, reflecting elevated customer stocking orders during the year-earlier quarter following a package-related catheter recall. Artegraft sales rose 34% and represented 21% of total sales, according to George LeMaitre. Graft sales grew 23%, shunt sales increased 18%, and patch sales rose 4%, with each category posting records. Regional sales also reached records, with EMEA and Asia-Pacific each up 18% and the Americas up 5%. Chief Financial Officer Dorian LeBlanc said gross margin rose 210 basis points year over year to 72.1%, driven by higher average selling prices, lower shipping costs and favorable product mix, particularly from growing sales of higher-margin Artegraft products. * Operating income reached a record $20.4 million, up 26% year over year. * Operating margin was 29%. * Net income increased 24% to $17.1 million. * Fully diluted earnings per share rose 23% to $0.74. * Cash and securities totaled $376 million at quarter-end, up $9 million during the quarter. Operating expenses increased 5% to $34.4 million. LeBlanc said the company maintained hiring restraint during the quarter, with full-time headcount rising only modestly to 660 from 658 a year earlier, though LeMaitre expects to continue investing in its global sales organization. Artegraft expansion and international investment. Management identified Artegraft as its fastest-growing and largest product line. International Artegraft sales increased sequentially to $2.8 million in the second quarter from $2.1 million in the first quarter. The company now expects $11 million in Artegraft sales during 2026, compared with $4 million in 2025. Discover more American Consumer News Stock Screener Tool The product received approvals in Vietnam, Morocco and Turkey during the quarter, bringing the total number of approved countries to 56. LeMaitre expects to seek or receive major approvals in Korea, Brazil and India in 2027. The company also said it received an initially positive response from Japan's PMDA after a July meeting and believes it could obtain approval for the arteriovenous indication by 2029 or 2030 without a clinical trial. Canada approved Artegraft last year, and the company plans a September launch there. LeMaitre also plans to file for approval in the U.S. and Europe during the fourth quarter for longer Artegraft packaging tubes, intended to support use in leg bypass procedures. Sales of longer bovine grafts could begin in the second half of 2027, management said. The company ended the second quarter with 163 sales representatives and continues to target 170 to 180 representatives by year-end. Nine representatives have signed to begin in the third quarter, while 13 sales positions remain open. LeMaitre is also expanding its distribution infrastructure. Its primary warehouse has moved and tripled in size in Billerica, Massachusetts, while projects are underway in Madrid, Paris, Toronto, the London area, Dublin and Warsaw. The company expects to begin selling directly to Polish hospitals from a Warsaw warehouse in December. George LeMaitre described the effort as "relocalization," aimed at placing customer service, inventory and shipping closer to hospital customers. He said localized shipping has reduced costs in some European markets and supported improved regional gross margins. Allograft supply and regulatory updates. Revenue from RFA allografts increased 17% during the quarter, while cardiac allograft sales grew 39% quarter over quarter, according to management. However, the company reduced its full-year organic growth outlook in part because of anticipated supply constraints for cardiac allografts. President Dave Roberts said LeMaitre remains focused on improving U.S. cardiac tissue supply before pursuing tissue processing expansion outside the country. The company is transferring tissue processing from Fox River Grove, Illinois, to Burlington, Massachusetts, and has already yielded tissue at the Burlington facility. LeMaitre currently distributes cadaver tissues in the U.S., Canada, the United Kingdom and Germany. It expects potential approvals in Ireland during the first half of 2027, followed by Austria, the Netherlands and Spain in the same period, and Australia and Switzerland in the second half of 2027. Separately, the company said an FDA pre-submission for its QuickStitch project indicated that a clinical trial is likely to be required. George LeMaitre said the company is evaluating whether to pursue that path, noting that a clinical trial timeline would be measured in years rather than quarters. The FDA also re-audited LeMaitre's New Jersey facility in June following a 2025 warning letter. Management said it believes it adequately addressed three-fourths of the prior observations, received additional quality-system observations on June 25 and responded on July 16. The observations have not disrupted production, shipping or invoicing, the company said. Updated 2026 outlook. LeMaitre updated its full-year guidance to revenue of $276.3 million, representing 11% reported revenue growth and 11% organic revenue growth. The company had previously projected 12% organic growth. Management expects full-year gross margin of 72.4%, operating income of $76.8 million and an operating margin of 28%. Fully diluted earnings per share is projected at $2.89, up 21% from adjusted 2025 results. LeBlanc said the lower revenue and operating-income outlook reflects updated foreign-exchange assumptions, continuing Middle East export restrictions and slower-than-expected cardiac allograft growth due to supply limitations. He added that stronger returns on invested cash are expected to provide some benefit below the operating-income line. About LeMaitre Vascular (NASDAQ:LMAT). LeMaitre Vascular, Inc is a specialty medical device company focused on the development, manufacture and marketing of products for the treatment of peripheral vascular disease. Headquartered in Burlington, Massachusetts, the company's offerings include a broad portfolio of vascular surgical instruments, grafts, patches, catheters and embolic protection devices. LeMaitre's product lines address key areas such as arterial reconstruction, endovascular repair and vascular access, serving the needs of cardiovascular surgeons and interventional specialists. Founded in 1983 by George D. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider LeMaitre Vascular, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and LeMaitre Vascular wasn't on the list. 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