LeMaitre Vascular announced its first-quarter 2025 financial results, with reported net sales increasing by 12% year-over-year to $59.9 million, surpassing Wall Street's revenue expectations. Sales growth was primarily driven by grafts, which increased 17%, and carotid shunts, up 14%. Geographically, EMEA sales led with an 18% increase, followed by the Americas at 11%, and Asia Pacific at 3%.
The company's gross margin improved to 69.2% from 68.6% in Q1 2024, attributed to higher average selling prices and manufacturing efficiencies. Operating income for the quarter was $12.6 million, a 6% increase, despite a 16% rise in operating expenses largely due to personnel. LeMaitre Vascular currently employs 164 sales representatives and 34 sales managers, reflecting continued investment in its sales force.
Based on its strong Q1 performance and the recent Artegraft CE Mark approval, LeMaitre Vascular raised its full-year 2025 guidance. The company now expects reported sales of $245 million, an increase from its prior guidance of $239 million, and organic sales growth of 13%, up from 10%. Chairman and CEO George LeMaitre noted that the Q1 sales momentum and $303 million of cash provide strategic optionality for the company.
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