LMAT FY 2023 Earnings Report — LeMaitre Vascular, Inc. Revenue & Financial Results | Market Cap Arena

LeMaitre Vascular, Inc.LMAT

FY 2023 Earnings

Reported February 29, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$193M	—	$162M	—	19.7%
Op. Income	$37M	—	$27M	—	36.8%
Gross Margin	65.7%	—	64.9%	—	0.8pp
Net Margin	15.6%	—	12.8%	—	2.8pp
EPS (Diluted)	$1.34	—	$0.93	—	44.1%
Free Cash Flow	$29M	—	$22M	—	33.1%

Revenue Flow

Item	Amount
REVENUE	$193M
Cost of Revenue	$66M
GROSS PROFIT	$127M
R&D Expenses	$17M
Selling & Marketing	$41M
General & Administrative	$32M
SG&A Expenses	$73M
Other Expenses	$485.0K
Operating Expenses	$90M
Cost & Expenses	$157M
OPERATING INCOME	$37M
Interest Income	$3M
Interest Expense	$0
Other Income/Expenses	$3M
INCOME BEFORE TAX	$39M
Income Tax Expense	$9M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$10M
EBIT	$39M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$193M
Cost of Revenue	$66M
GROSS PROFIT	$127M
R&D Expenses	$17M
Selling & Marketing	$41M
General & Administrative	$32M
SG&A Expenses	$73M
Other Expenses	$485.0K
Operating Expenses	$90M
Cost & Expenses	$157M
OPERATING INCOME	$37M
Interest Income	$3M
Interest Expense	$0
Other Income/Expenses	$3M
INCOME BEFORE TAX	$39M
Income Tax Expense	$9M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$10M
EBIT	$39M
EBITDA	$49M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$30M
Depreciation & Amortization	$10M
Stock-Based Compensation	$5M
Deferred Income Tax	$783.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$11M
OPERATING CASH FLOW	$37M
Capital Expenditure	-$7M
Acquisitions (Net)	-$899.0K
Purchases of Investments	-$17M
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$25M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$12M
Other Financing Activities	-$853.0K
NET CASH FROM FINANCING	-$7M
FREE CASH FLOW	$29M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$24M
Short-Term Investments	$81M
Net Receivables	$25M
Inventory	$52M
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$195M
PP&E (Net)	$40M
Goodwill	$66M
Intangible Assets	$42M
Long-Term Investments	$0
Tax Assets	$1M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$152M
TOTAL ASSETS	$347M
Account Payables	$4M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$24.0K
TOTAL CURRENT LIABILITIES	$30M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$107.0K
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$19M
TOTAL LIABILITIES	$49M
Common Stock	$239.0K
Additional Paid-In Capital	$201M
Retained Earnings	$115M
Treasury Stock	-$14M
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$298M
Minority Interest	$0
TOTAL EQUITY	$298M
TOTAL LIABILITIES & EQUITY	$347M
Total Debt	$19M
Net Debt	-$5M