LeMaitre Vascular, Inc. (NASDAQ:LMAT) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET
Company Participants
Joseph Pellegrino - Chief Financial Officer
David Roberts - President
Conference Call Participants
Brett Fishbin - KeyBanc Capital Markets Inc.
Aaron Wukmir - Lake Street Capital Markets
Michael Petusky - Barrington Research Associates, Inc.
Operator
Welcome to the LeMaitre Vascular Q2 2023 Financial Results Conference Call. As a reminder, today’s call is being recorded. At this time, I would like to turn the call over to Mr. J.J. Pellegrino, Chief Financial Officer of LeMaitre Vascular. Please go ahead, sir.
Joseph Pellegrino
Thank you, operator. Good afternoon and thank you for joining us on our Q2 2023 Conference Call. With me on today’s call is our President, Dave Roberts; our CEO, George LeMaitre, he is not feeling well and will not be on the call.
Before we begin, I’ll read our safe harbor statement. Today, we will make some forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, the accuracy of which is subject to risks and uncertainties. Wherever possible, we will try to identify those forward-looking statements by using words such as believe, expect, anticipate, pursue, forecast, and similar expressions.
Our forward-looking statements are based on our estimates and assumptions as of today, August 1, 2023, and should not be relied upon as representing our estimates or views on any subsequent date. Please refer to the cautionary statement regarding forward-looking information and the risk factors in our most recent 10-K and subsequent SEC filings, including disclosure of the factors that could cause results to differ materially from those expressed or implied.
During this call, we will discuss non-GAAP financial measures, which include organic sales growth as well as operating income, operating expense and EPS, excluding special charges. A reconciliation of GAAP to non-GAAP measures discussed in this call is contained in the associated press release and is available in the Investor Relations section of our website, www.lemaitre.com.
I’ll now turn the call over to Dave Roberts.
David Roberts
Thanks, J.J. Q2 sales grew 19% on a reported basis and 16% organically to a record $50.1 million. Growth was spread across all products and geographies. Our 5 largest products led the way. Bovine patches were up 16%; valvulotomes, 18%; bovine grafts, 13%; carotid shunts, 22%; and allografts, 18%. By geography, EMEA was up 26%; APAC, 21%; and the Americas, 16%. All three regions set record.