LeMaitre Vascular, Inc. (NASDAQ:LMAT) Q1 2023 Earnings Conference Call May 2, 2023 5:00 PM ET
Company Participants
Joseph Pellegrino - Chief Financial Officer
George LeMaitre - Chairman and Chief Executive Officer
David Roberts - President
Conference Call Participants
Brett Fishbin - KeyBanc Capital Markets Inc.
Frederick Wise - Stifel, Nicolaus & Company, Inc.
Michael Petusky - Barrington Research Associates, Inc.
Scott Henry - ROTH Capital Partners
Operator
Welcome to the LeMaitre Vascular Q1 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.
Joseph Pellegrino
Thank you, operator. Good afternoon, and thank you for joining us on our Q1 2023 conference call. With me on today's call is our Chairman and CEO, George LeMaitre; and our President, Dave Roberts.
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, May 2, 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 will now turn the call over to George LeMaitre.
George LeMaitre
Thanks, J.J. Sales grew 22% organically in Q1, 13% price and 9% units. Our five largest product lines led the way. Valvulotomes were up 29%, carotid patches increased 17%, bovine grafts 22%, allografts 42%, and carotid shunts 18%. By geography, all three regions reported growth. The Americas were up 21%, EMEA was up 17% and APAC was up 6%.