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Lemaitre Vascular (LMAT) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Lemaitre Vascular (LMAT) Q3 2026 earnings results →

Q3 2026 Revenue up 11% year over year to $68.0M · 22¢ of every $1 of revenue kept as net profit · operating margin 26.0%

Lemaitre Vascular made $68.0M in Q3 2026 (+11% Y/Y). Operating margin 26.0%, net earnings $15.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$68.0M
Year over year+11%
Operating margin26.0%
Net earnings$15.0M
Operating cash flow$22.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $68.0M in Q3 2026, up 11% year over year and down 3% from the previous quarter.

Gross margin was 71.7%, down 3.6 points from Q3 2025. Operating profit was $17.7M, a 26.0% margin (down 7.2 points year over year). Operating profit fell $2.6M even though revenue rose $6.9M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 21% against revenue growth of 11%. The fastest-growing cost line was Research & development (+49%). Net earnings were $15.0M, down 13% year over year. The effective tax rate was 23.6%.

Operating cash flow was $22.0M (down 24% year over year), 146% of net earnings. Non-cash charges added back $2.9M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items added $2.1M. Capital expenditures of $2.3M left free cash flow of $19.7M.

Quarterly history

Lemaitre Vascular revenue by quarterLemaitre Vascular revenue by quarter$59.9MQ1 2025$64.2MQ2 2025$61.0MQ3 2025$64.5MQ4 2025$66.6MQ1 2026$70.4MQ2 2026$68.0MQ3 2026
Lemaitre Vascular net earnings by quarterLemaitre Vascular net earnings by quarter$11.0MQ1 2025$13.8MQ2 2025$17.4MQ3 2025$15.6MQ4 2025$15.7MQ1 2026$17.1MQ2 2026$15.0MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$68.0M+11%26.0%$15.0M$22.0M
Q2 202610-QAug 5, 2026$70.4M+10%29.0%$17.1M$16.0M
Q1 202610-QMay 6, 2026$66.6M+11%26.7%$15.7M$15.1M
Q4 202510-KFeb 26, 2026$64.5M+16%29.2%$15.6M$23.2M
Q3 202510-QNov 7, 2025$61.0M+11%33.3%$17.4M$28.8M
Q2 202510-QAug 6, 2025$64.2M+15%25.1%$13.8M$20.3M
Q1 202510-QMay 8, 2025$59.9M+12%21.1%$11.0M$9.0M

Charts

Lemaitre Vascular: revenue growth, year over year and quarter over quarterLemaitre Vascular: revenue growth, year over year and quarter over quarterY/YQ/Q+12%Q1 2025+15%+7%Q2 2025+11%-5%Q3 2025+16%+6%Q4 2025+11%+3%Q1 2026+10%+6%Q2 2026+11%-3%Q3 2026
Latest (Q3 2026): Y/Y +11%, Q/Q -3%.
Lemaitre Vascular: where the cash came from (+) and went (−), TTM to Q3 2026Lemaitre Vascular: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$76.2MOther investing−$46.0MDividends−$21.7MCapital spending−$9.2MShares issued$6.6MCash drawn (+) / kept (−)−$2.0MAcquisitions−$2.0MBuybacks−$1.7MExchange rates−$142KOther financing−$95K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Lemaitre Vascular: profit against cash, quarter by quarterLemaitre Vascular: profit against cash, quarter by quarterNet incomeOperating cash flow$11.2M$15.2MQ4 2024$11.0M$9.0MQ1 2025$13.8M$20.3MQ2 2025$17.4M$28.8MQ3 2025$15.6M$23.2MQ4 2025$15.7M$15.1MQ1 2026$17.1M$16.0MQ2 2026$15.0M$22.0MQ3 2026
Latest (Q3 2026): Net income $15.0M, Operating cash flow $22.0M.
Lemaitre Vascular: diluted shares by fiscal yearLemaitre Vascular: diluted shares by fiscal year20MFY202021MFY202122MFY202222MFY202323MFY202423MFY2025
+12.0% since FY2020: more shares outstanding (issuance, stock pay).
Lemaitre Vascular in its industry: growth against margin (111 companies, SIC 3841)Lemaitre Vascular in its industry: growth against margin (111 companies, SIC 3841)revenue growth, year over year →↑ operating marginmedian +10%median -9%MDLNMMMSYKBSXBDXBAXSOLVRMDDXCMWSTMMEDPODDGMEDTFXICUIMMSIIARTPENHAETNDMEMBCIRTCATECGKOSOFIXINSPNVCRUFPTATRCBVSAORTPRCTTCMDARAYANGOKIDSSKINHTFLMDXGCERSSIBNTMCISTIMINFUBBNXKMTSOSURANIKDCTHRCELSGHTIRMDXTNTLUNGNPCEPDEXTELACARLLNSRSIMOBIAPYXSSIICVRXCLPTKRMDTLSIPROFSNWVCTSOIDXGUTMDRVPSNOAPREMNEPHDRIOVVOSBTCYNXGLMDAIMDNCPMINONE.SRTSSINTIVFNMTCNSPRAURXXAIRLUCDTNONINBSRNXTVTAKUSAQICUVYCOHRGNCNSYPLSEPETVFEMYOSRHCODXOBIORDGLPAVMGUTSLMAT (+11%, 26%)
Surgical & Medical Instruments & Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Lemaitre Vascular

LeMaitre is a provider of devices, implants, and services for the treatment of peripheral vascular disease, a condition that affects more than 200 million people worldwide. The Company develops, manufactures, and markets disposable and implantable vascular devices to address the needs of its core customer, the vascular surgeon. LeMaitre is a registered trademark of LeMaitre Vascular, Inc. This press release may include other trademarks and trade names of the Company.

In its own words, from its 8-K, filed Aug 4, 2026.

Lemaitre Vascular against its Surgical & Medical Instruments & Apparatus peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +5%. Operating margin: 26.0% against the peers' median 15.9%.

CompanyQuarterRevenueY/YOp. margin
LMAT Lemaitre VascularQ3 2026$68.0M+11%26.0%
MDLN MedlineQ3 2026$7.9B+10%6.4%
MMM 3MQ3 2026$6.6B+1%23.7%
SYK StrykerQ3 2026$6.5B+8%15.9%
BSX Boston ScientificQ3 2026$5.1B+1%16.1%
BDX Becton DickinsonQ3 FY26$5.0B+5%13.3%
BAX Baxter InternationalQ3 2026$3.0B+5%7.6%
SOLV SolventumQ3 2026$1.9B-7%3.5%
RMD ResMedQ1 FY27$1.4B+6%32.0%

Source: Lemaitre Vascular 10-Q on SEC EDGAR · CIK 1158895 · Surgical & Medical Instruments & Apparatus

Guidance and outlook

Lemaitre Vascular Revenue: guidance against what was reportedLemaitre Vascular Revenue: guidance against what was reportedguided rangereported (above / within / below)Q2 2026$70.4M
Met or beat 0 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Lemaitre Vascular: what its forward-looking statements are about (10-Q filed 2026-11-05)Lemaitre Vascular: what its forward-looking statements are about (10-Q filed 2026-11-05)Other7Demand5Costs3Deals1Margins1
17 statements; tone +0.12 (−1 all cautious, +1 all confident); 3 hedged.
Lemaitre Vascular: outlook statements against the filing beforeLemaitre Vascular: outlook statements against the filing beforeConfident3Cautious1

13F: who owns LMAT and who is buying

Largest holders of LMAT (13F)Largest holders of LMAT (13F)BlackRock$314MVanguard Group$132MFirst Trust Advisors LP$105MVanguard Capital Management LLC$91.5MState Street$86.5MCopeland Capital Management, LLC$76.3MGeode Capital Management, LLC$75.7MConestoga Capital Advisors, LLC$72.6MPrice T Rowe Associates$72.5MVanguard Portfolio Management LLC$58.0M
Funds' net buying of LMAT by quarter (13F)Funds' net buying of LMAT by quarter (13F)−$5.6M2024-09−$42.5M2024-12$7.6M2025-03$26.6M2025-06−$26.3M2025-09$28.0M2025-12$88.1M2026-03$67.7M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LMAT

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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