LeMaitre (NASDAQ:LMAT) Exceeds Q2 Expectations, Full-Year Sales Guidance is Optimistic

August 05, 2025 at 18:10 PM EDT

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Medical device company LeMaitre Vascular (NASDAQ: LMAT) reported revenue ahead of Wall Street’s expectations in Q2 CY2025, with sales up 15% year on year to $64.23 million. Guidance for next quarter’s revenue was optimistic at $62.2 million at the midpoint, 2.1% above analysts’ estimates. Its GAAP profit of $0.60 per share was 5.8% above analysts’ consensus estimates.

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LeMaitre (LMAT) Q2 CY2025 Highlights:

Revenue: $64.23 million vs analyst estimates of $62.58 million (15% year-on-year growth, 2.6% beat)
EPS (GAAP): $0.60 vs analyst estimates of $0.57 (5.8% beat)
Adjusted EBITDA: $19.04 million vs analyst estimates of $17.89 million (29.6% margin, 6.4% beat)
The company lifted its revenue guidance for the full year to $251 million at the midpoint from $245.5 million, a 2.2% increase
EPS (GAAP) guidance for the full year is $2.30 at the midpoint, beating analyst estimates by 6.8%
Operating Margin: 25.1%, in line with the same quarter last year
Organic Revenue rose 15% year on year (11.5% in the same quarter last year)
Market Capitalization: $1.91 billion

Chairman/CEO George LeMaitre said, “2025 is shaping up to be another year of healthy sales and profit growth and Artegraft’s OUS launch is ahead of plan. As a result, we’re increasing our 2025 top- and bottom-line guidance.”

Company Overview

Founded in 1983 and named after a pioneering vascular surgeon, LeMaitre Vascular (NASDAQGM:LMAT) develops and manufactures specialized medical devices used by vascular surgeons to treat peripheral vascular disease and other circulatory conditions.

Revenue Growth

A company’s long-term performance is an indicator of its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Luckily, LeMaitre’s sales grew at a solid 15.4% compounded annual growth rate over the last five years. Its growth beat the average healthcare company and shows its offerings resonate with customers.

We at StockStory place the most emphasis on long-term growth, but within healthcare, a half-decade historical view may miss recent innovations or disruptive industry trends. LeMaitre’s annualized revenue growth of 15.1% over the last two years aligns with its five-year trend, suggesting its demand was predictably strong. LeMaitre Year-On-Year Revenue Growth

We can dig further into the company’s sales dynamics by analyzing its organic revenue, which strips out one-time events like acquisitions and currency fluctuations that don’t accurately reflect its fundamentals. Over the last two years, LeMaitre’s organic revenue averaged 13.9% year-on-year growth. Because this number aligns with its two-year revenue growth, we can see the company’s core operations (not acquisitions and divestitures) drove most of its results. LeMaitre Organic Revenue Growth

This quarter, LeMaitre reported year-on-year revenue growth of 15%, and its $64.23 million of revenue exceeded Wall Street’s estimates by 2.6%. Company management is currently guiding for a 13.5% year-on-year increase in sales next quarter.

Looking further ahead, sell-side analysts expect revenue to grow 9.9% over the next 12 months, a deceleration versus the last two years. Despite the slowdown, this projection is admirable and indicates the market is baking in success for its products and services.

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Operating Margin

LeMaitre has been an efficient company over the last five years. It was one of the more profitable businesses in the healthcare sector, boasting an average operating margin of 21.6%.

Looking at the trend in its profitability, LeMaitre’s operating margin decreased by 2.3 percentage points over the last five years, but it rose by 6.2 percentage points on a two-year basis. Still, shareholders will want to see LeMaitre become more profitable in the future.

LeMaitre Trailing 12-Month Operating Margin (GAAP)

In Q2, LeMaitre generated an operating margin profit margin of 25.1%, in line with the same quarter last year. This indicates the company’s overall cost structure has been relatively stable.

Earnings Per Share

We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.

LeMaitre’s EPS grew at an astounding 20.5% compounded annual growth rate over the last five years, higher than its 15.4% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.

In Q2, LeMaitre reported EPS at $0.60, up from $0.52 in the same quarter last year. This print beat analysts’ estimates by 5.8%. Over the next 12 months, Wall Street expects LeMaitre’s full-year EPS of $2.06 to grow 13%.

Key Takeaways from LeMaitre’s Q2 Results

We were impressed by how significantly LeMaitre blew past analysts’ full-year EPS guidance expectations this quarter and raised its revenue outlook. We were also glad its organic revenue, EPS, and EBITDA outperformed Wall Street’s estimates. Zooming out, we think this quarter featured some important positives. The stock traded up 1.3% to $87.02 immediately after reporting.

LeMaitre had an encouraging quarter, but one earnings result doesn’t necessarily make the stock a buy. Let’s see if this is a good investment. The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free.

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