LEMAITRE VASCULAR INC
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
LMAT$80.89-3.1%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
LEMAITRE VASCULAR
FORM 10-Q
TABLE OF CONTENTS
| Page | |||
|---|---|---|---|
| Part I. | Financial Information: | 4 | |
| Item 1. | Financial Statements | 4 | |
| Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 | 4 | ||
| Unaudited Consolidated Statements of Operations for the three-month and six-month periods ended June 30, 2024 and 2023 | 5 | ||
| Unaudited Consolidated Statements of Comprehensive Income for the three-month and six-month periods ended June 30, 2024 and 2023 | 6 | ||
| Unaudited Consolidated Statements of Stockholders’ Equity for the three-month and six-month periods ended June 30, 2024 and 2023 | 7 | ||
| Unaudited Consolidated Statements of Cash Flows for the six-month periods ended June 30, 2024 and 2023 | 8 | ||
| Notes to Unaudited Consolidated Financial Statements | 9 | ||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 19 | |
| Item 3. | Quantitative and Qualitative Disclosure about Market Risk | 28 | |
| Item 4. | Controls and Procedures | 28 | |
| Part II. | Other Information: | 30 | |
| Item 1. | Legal Proceedings | 30 | |
| Item 1A. | Risk Factors | 30 | |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 30 | |
| Item 5. | Other Information | 30 | |
| Item 6. | Exhibits | 31 | |
| Signatures | 32 | ||
Part I. Financial Information
Consolidated Balance Sheets
| (unaudited) | ||
|---|---|---|
| June 30, | December 31, | |
| 2024 | 2023 | |
| (in thousands, except share data) | ||
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $22,268 | $24,269 |
| Short-term marketable securities | 90,831 | 80,805 |
| Accounts receivable, net of allowances of $1,286 at June 30, 2024 and $941 at December 31, 2023 | 30,822 | 25,064 |
| Inventory and other deferred costs | 63,673 | 58,080 |
| Prepaid expenses and other current assets | 5,217 | 6,380 |
| Total current assets | 212,811 | 194,598 |
| Property and equipment, net | 23,117 | 21,754 |
| Right-of-use leased assets | 17,294 | 18,027 |
| Goodwill | 65,945 | 65,945 |
| Other intangibles, net | 38,767 | 41,711 |
| Deferred tax assets | 1,028 | 1,003 |
| Other assets | 4,117 | 3,740 |
| Total assets | $363,079 | $346,778 |
| Liabilities and stockholders' equity | ||
| Current liabilities: | ||
| Accounts payable | $1,995 | $3,734 |
| Accrued expenses | 20,785 | 23,650 |
| Acquisition-related obligations | 75 | 24 |
| Lease liabilities - short-term | 2,591 | 2,471 |
| Total current liabilities | 25,446 | 29,879 |
| Lease liabilities - long-term | 15,818 | 16,624 |
| Deferred tax liabilities | 104 | 107 |
| Other long-term liabilities | 2,179 | 2,268 |
| Total liabilities | 43,547 | 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 24,059,300 shares at June 30, 2024, and 23,911,760 shares at December 31, 2023 | 240 | 239 |
| Additional paid-in capital | 208,689 | 200,755 |
| Retained earnings | 129,961 | 115,430 |
| Accumulated other comprehensive loss | (5,094) | (4,625) |
| Treasury stock, at cost; 1,590,457 shares at June 30, 2024 and 1,584,512 shares at December 31, 2023 | (14,264) | (13,899) |
| Total stockholders’ equity | 319,532 | 297,900 |
| Total liabilities and stockholders’ equity | $363,079 | $346,778 |
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