Lemaître Vascular Files Q3 2024 10-Q

TL;DR

Lemaître Vascular's Q3 10-Q is in, showing financial data up to Sept 30, 2024. Check it for the latest numbers.

AI Summary

Lemaître Vascular Inc. reported its Q3 2024 results, with the filing period ending September 30, 2024. The company's fiscal year ends on December 31st. Key financial data points and comparative periods are included in the filing, such as accumulated other comprehensive income for various dates in 2022, 2023, and 2024.

Why It Matters

This filing provides investors with the latest financial performance data for Lemaître Vascular, a medical device company, allowing for informed investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Numbers

• Q3 2024 — Reporting Period (The filing covers the third quarter of 2024.)
• 2024-09-30 — Period End Date (The financial data reported is as of this date.)
• 2024-11-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• LEMAITRE VASCULAR INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241108 (date) — Filing Date
• 63 SECOND AVENUE (location) — Business and Mail Address
• BURLINGTON (location) — City
• MA (location) — State
• 01803 (location) — ZIP Code

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value per share LMAT The Nasdaq

Filing Documents

• lmat20240930_10q.htm (10-Q) — 1568KB
• ex_738746.htm (EX-31.1) — 9KB
• ex_738747.htm (EX-31.2) — 9KB
• ex_738748.htm (EX-32.1) — 5KB
• ex_738749.htm (EX-32.2) — 5KB
• 0001437749-24-034124.txt ( ) — 6745KB
• lmat-20240930.xsd (EX-101.SCH) — 58KB
• lmat-20240930_def.xml (EX-101.DEF) — 346KB
• lmat-20240930_lab.xml (EX-101.LAB) — 280KB
• lmat-20240930_pre.xml (EX-101.PRE) — 386KB
• lmat-20240930_cal.xml (EX-101.CAL) — 43KB
• lmat20240930_10q_htm.xml (XML) — 1205KB

Financial Statements

Financial Statements 4 Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 4 Unaudited Consolidated Statements of Operations for the three-month and nine-month periods ended September 30, 2024 and 2023 5 Unaudited Consolidated Statements of Comprehensive Income for the three-month and nine-month periods ended September 30, 2024 and 2023 6 Unaudited Consolidated Statements of Stockholders ' Equity for the three-month and nine-month periods ended September 30, 2024 and 2023 7 Unaudited Consolidated Statements of Cash Flows for the nine-month periods ended September 30, 2024 and 2023 9 Notes to Unaudited Consolidated Financial Statements 10 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3. Quantitative and Qualitative Disclosure about Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29 Part II. Other Information: 31 Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 5. Other Information 31 Item 6. Exhibits 32

Signatures

Signatures 33 3 Table of Contents

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements LeMaitre Vascular, Inc. Consolidated Balance Sheets (unaudited) September 30, December 31, 2024 2023 (in thousands, except share data) Assets Current assets: Cash and cash equivalents $ 21,001 $ 24,269 Short-term marketable securities 102,888 80,805 Accounts receivable, net of allowances of $ 1,309 at September 30, 2024 and $ 941 at December 31, 2023 32,269 25,064 Inventory and other deferred costs 65,021 58,080 Prepaid expenses and other current assets 5,937 6,380 Total current assets 227,116 194,598 Property and equipment, net 23,924 21,754 Right-of-use leased assets 17,195 18,027 Goodwill 65,945 65,945 Other intangibles, net 37,303 41,711 Deferred tax assets 1,310 1,003 Other assets 4,232 3,740 Total assets $ 377,025 $ 346,778 Liabilities and stockholders ' equity Current liabilities: Accounts payable $ 1,651 $ 3,734 Accrued expenses 23,493 23,650 Acquisition-related obligations 1,476 24 Lease liabilities - short-term 2,723 2,471 Total current liabilities 29,343 29,879 Lease liabilities - long-term 15,603 16,624 Deferred tax liabilities 109 107 Other long-term liabilities 896 2,268 Total liabilities 45,951 48,878 Stockholders' equity: Preferred stock, $ 0.01 par value; authorized 3,000,000 shares; none outstanding - - Common stock, $ 0.01 par value; authorized 37,000,000 shares; issued 24,073,835 shares at September 30, 2024, and 23,911,760 shares at December 31, 2023 241 239 Additional paid-in capital 210,748 200,755 Retained earnings 137,506 115,430 Accumulated other comprehensive loss ( 3,156 ) ( 4,625 ) Treasury stock, at cost; 1,590,478 shares at September 30, 2024 and 1,584,512 shares at December 31, 2023 ( 14,265 ) ( 13,899 ) Total stockholders' equity 331,074 297,900 Total liabilities and stockholders' equity $ 377,025 $ 346,778 See accompanyi

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements September 30, 2024 (unaudited) 1. Organization and Basis for Presentation Description of Business Unless the context requires otherwise, references to LeMaitre, LeMaitre Vascular, the Company, we, our, and us refer to LeMaitre Vascular, Inc. and our subsidiaries. We develop, manufacture, and market medical devices and implants used primarily in the field of vascular surgery. We also derive revenues from the processing and cryopreservation of human tissues for implantation in patients. We operate in a single segment in which our principal product lines include the following: anastomotic clips, biologic vascular and dialysis grafts, biologic vascular and cardiac patches, carotid shunts, embolectomy catheters, occlusion catheters, radiopaque marking tape, synthetic vascular and dialysis grafts, and valvulotomes. Our offices and production facilities are located in Burlington, Massachusetts; Fox River Grove, Illinois; North Brunswick, New Jersey; Vaughan, Canada; Sulzbach, Germany; Milan, Italy; Madrid, Spain; Hereford, England; Dublin, Ireland; Maisons-Alfort, France; Kensington, Australia; Tokyo, Japan; Shanghai, China; Singapore; Seoul, Korea; and Bangkok, Thailand. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal, recurring adjustments considered necessary for a fair presentation of the results of these interim periods have been included. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities

View Full Filing

View this 10-Q filing on SEC EDGAR