0001437749-24-034124 | 10-Q | XBRL Viewer

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	Nine months ended September 30, 2024
	(in thousands)
Unrecognized tax benefits as of December 31, 2023	$	587
Additions/adjustments for tax positions of current year		-
Additions/adjustments for tax positions of prior years		(3	)
Reductions for settlements with taxing authorities		-
Reductions for lapses of the applicable statutes of limitations		(42	)
Unrecognized tax benefits as of September 30, 2024	$	542

Note 8 - Share-based Compensation - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total stock-based compensation	$ 1,610	$ 1,313	$ 4,829	$ 3,915
Cost of Sales [Member]
Total stock-based compensation	218	168	657	504
Selling and Marketing Expense [Member]
Total stock-based compensation	276	248	821	712
General and Administrative Expense [Member]
Total stock-based compensation	952	765	2,860	2,310
Research and Development Expense [Member]
Total stock-based compensation	$ 164	$ 132	$ 491	$ 389

Note 12 - Fair Value Measurements - Rollforward of the Fair Value as Determined by Level 3 (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Beginning balance	$ 1,224	$ 1,339
Additions	0	0
Payments	0	0
Change in fair value included in earnings	70	(63)
Ending balance	$ 1,294	$ 1,276

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member] Restricted Stock Units (RSUs) [Member]	Common Stock [Member] Performance-based Restricted Units [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member] Performance-based Restricted Units [Member]	Treasury Stock, Common [Member]	Restricted Stock Units (RSUs) [Member]	Performance-based Restricted Units [Member]	Total
Balance (in shares) at Dec. 31, 2022			23,655,716					1,568,595
Balance at Dec. 31, 2022			$ 237	$ 189,268	$ 97,773	$ (6,031)		$ (13,046)			$ 268,201
Net income					6,040						6,040
Other comprehensive income (loss)						459					459
Issuance of common stock for stock options exercised (in shares)			50,424
Issuance of common stock for stock options exercised			$ 1	1,445							1,446
Vested restricted stock units (in shares)	8,773
Vested restricted stock units	$ 0								$ 0
Repurchase of common stock for net settlement of equity awards (in shares)							3,602
Repurchase of common stock for net settlement of equity awards							$ (172)			$ (172)
Stock-based compensation expense				1,290							1,290
Common stock dividend paid					(3,099)						(3,099)
Other comprehensive income (loss)						459					459
Repurchase of common stock for net settlement of equity awards							$ 172			172
Common stock dividend paid					3,099						3,099
Balance (in shares) at Mar. 31, 2023			23,714,913					1,572,197
Balance at Mar. 31, 2023			$ 238	192,003	100,714	(5,572)		$ (13,218)			274,165
Balance (in shares) at Dec. 31, 2022			23,655,716					1,568,595
Balance at Dec. 31, 2022			$ 237	189,268	97,773	(6,031)		$ (13,046)			268,201
Net income											21,640
Other comprehensive income (loss)											(674)
Other comprehensive income (loss)											(674)
Balance (in shares) at Sep. 30, 2023			23,835,670					1,572,435
Balance at Sep. 30, 2023			$ 239	198,254	110,081	(6,705)		$ (13,232)			288,637
Balance (in shares) at Mar. 31, 2023			23,714,913					1,572,197
Balance at Mar. 31, 2023			$ 238	192,003	100,714	(5,572)		$ (13,218)			274,165
Net income					8,098						8,098
Other comprehensive income (loss)						(250)					(250)
Issuance of common stock for stock options exercised (in shares)			120,179
Issuance of common stock for stock options exercised			$ 1	3,626							3,627
Vested restricted stock units (in shares)	399
Vested restricted stock units	$ 0								0
Repurchase of common stock for net settlement of equity awards (in shares)							151
Repurchase of common stock for net settlement of equity awards							$ (9)			(9)
Stock-based compensation expense				1,312							1,312
Common stock dividend paid					(3,116)						(3,116)
Other comprehensive income (loss)						(250)					(250)
Repurchase of common stock for net settlement of equity awards							$ 9			9
Common stock dividend paid					3,116						3,116
Balance (in shares) at Jun. 30, 2023			23,835,491					1,572,348
Balance at Jun. 30, 2023			$ 239	196,941	105,696	(5,822)		$ (13,227)			283,827
Net income					7,502						7,502
Other comprehensive income (loss)						(883)					(883)
Issuance of common stock for stock options exercised (in shares)			0
Issuance of common stock for stock options exercised			$ 0	0							0
Vested restricted stock units (in shares)	179
Vested restricted stock units	$ 0								0
Repurchase of common stock for net settlement of equity awards (in shares)								87
Repurchase of common stock for net settlement of equity awards								$ (5)			(5)
Stock-based compensation expense				1,313							1,313
Common stock dividend paid					(3,117)						(3,117)
Other comprehensive income (loss)						(883)					(883)
Repurchase of common stock for net settlement of equity awards								$ 5			5
Common stock dividend paid					3,117						3,117
Balance (in shares) at Sep. 30, 2023			23,835,670					1,572,435
Balance at Sep. 30, 2023			$ 239	198,254	110,081	(6,705)		$ (13,232)			288,637
Balance (in shares) at Dec. 31, 2023			23,911,760					1,584,512
Balance at Dec. 31, 2023			$ 239	200,755	115,430	(4,625)		$ (13,899)			297,900
Net income					9,887						9,887
Other comprehensive income (loss)						(933)					(933)
Issuance of common stock for stock options exercised (in shares)			107,930
Issuance of common stock for stock options exercised			$ 1	3,985							3,986
Vested restricted stock units (in shares)	9,547	7,063
Vested restricted stock units	$ 0	$ 0							0	0
Repurchase of common stock for net settlement of equity awards (in shares)								5,850
Repurchase of common stock for net settlement of equity awards								$ (358)			(358)
Stock-based compensation expense				1,610							1,610
Common stock dividend paid					(3,589)						(3,589)
Other comprehensive income (loss)						(933)					(933)
Repurchase of common stock for net settlement of equity awards								$ 358			358
Common stock dividend paid					3,589						3,589
Balance (in shares) at Mar. 31, 2024			24,036,300					1,590,362
Balance at Mar. 31, 2024			$ 240	206,350	121,728	(5,558)		$ (14,257)			308,503
Balance (in shares) at Dec. 31, 2023			23,911,760					1,584,512
Balance at Dec. 31, 2023			$ 239	200,755	115,430	(4,625)		$ (13,899)			297,900
Net income											32,854
Other comprehensive income (loss)											1,469
Other comprehensive income (loss)											1,469
Balance (in shares) at Sep. 30, 2024			24,073,835					1,590,478
Balance at Sep. 30, 2024			$ 241	210,748	137,506	(3,156)		$ (14,265)			331,074
Balance (in shares) at Mar. 31, 2024			24,036,300					1,590,362
Balance at Mar. 31, 2024			$ 240	206,350	121,728	(5,558)		$ (14,257)			308,503
Net income					11,826						11,826
Other comprehensive income (loss)						464					464
Issuance of common stock for stock options exercised (in shares)			22,700
Issuance of common stock for stock options exercised			$ 0	730							730
Vested restricted stock units (in shares)	223	77
Vested restricted stock units	$ 0	$ 0							0	0
Repurchase of common stock for net settlement of equity awards (in shares)								95
Repurchase of common stock for net settlement of equity awards								$ (7)			(7)
Stock-based compensation expense				1,609							1,609
Common stock dividend paid					(3,593)						(3,593)
Other comprehensive income (loss)						464					464
Repurchase of common stock for net settlement of equity awards								$ 7			7
Common stock dividend paid					3,593						3,593
Balance (in shares) at Jun. 30, 2024			24,059,300					1,590,457
Balance at Jun. 30, 2024			$ 240	208,689	129,961	(5,094)		$ (14,264)			319,532
Net income					11,141						11,141
Other comprehensive income (loss)						1,938					1,938
Issuance of common stock for stock options exercised (in shares)			14,477
Issuance of common stock for stock options exercised			$ 1	449							450
Vested restricted stock units (in shares)	58	0
Vested restricted stock units	$ 0	$ 0							$ 0	$ 0
Repurchase of common stock for net settlement of equity awards (in shares)								21
Repurchase of common stock for net settlement of equity awards								$ (1)			(1)
Stock-based compensation expense				1,610							1,610
Common stock dividend paid					(3,596)						(3,596)
Other comprehensive income (loss)						1,938					1,938
Repurchase of common stock for net settlement of equity awards								$ 1			1
Common stock dividend paid					3,596						3,596
Balance (in shares) at Sep. 30, 2024			24,073,835					1,590,478
Balance at Sep. 30, 2024			$ 241	$ 210,748	$ 137,506	$ (3,156)		$ (14,265)			$ 331,074

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 5. Other Information Rule 10b5-1 and non-Rule 10b5-1 trading arrangements During the fiscal quarter ended September 30, 2024, none of our directors or officers informed us of the adoption, modification or termination of a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as those terms are defined in Regulation S-K, Item 408.
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 9 - Net Income Per Share - Computation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income	$ 11,141	$ 11,826	$ 9,887	$ 7,502	$ 8,098	$ 6,040	$ 32,854	$ 21,640
Basic (in shares)	22,476			22,263			22,433	22,196
Basic earnings per share (in dollars per share)	$ 0.5			$ 0.34			$ 1.46	$ 0.97
Common stock equivalents, if dilutive (in shares)	360			218			290	215
Shares used in computing diluted earnings per common share (in shares)	22,836			22,481			22,723	22,411
Diluted earnings per share (in dollars per share)	$ 0.49			$ 0.33			$ 1.45	$ 0.97
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive (in shares)	0			192			24	286

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Note 12 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Nine months ended September 30,
	2024		2023
	(in thousands)
Beginning balance	$	1,224	$	1,339
Additions		-		-
Payments		-		-
Change in fair value included in earnings		70		(63	)

Ending balance	$	1,294	$	1,276

Note 11 - Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2024

Cash Flow, Supplemental Disclosures [Text Block]

11. Supplemental Cash Flow Information

	For the nine months ended
	September 30,
	2024		2023
	(in thousands)
Cash paid for income taxes, net	$	9,626	$	5,420

Note 3 - Inventories and Other Deferred Costs - Summary of Inventories and Other Deferred Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Raw materials	$ 20,323	$ 18,333
Work-in-process	2,966	2,869
Finished products	33,796	31,131
Other deferred costs	7,936	5,747
Total inventory and other deferred costs	$ 65,021	$ 58,080

Note 7 - Segment and Enterprise-wide Disclosures

9 Months Ended

Sep. 30, 2024

Segment Reporting Disclosure [Text Block]

7. Segment and Enterprise-Wide Disclosures

The FASB establishes standards for reporting information regarding operating segments in financial statements. Operating segments are identified as components of an enterprise that engage in business activities for which separate, discrete financial information is available and is regularly reviewed by the chief operating decision-maker in making decisions on how to allocate resources and assess performance. We view our operations and manage our business as one operating segment. No discrete operating information is prepared by us except for sales by product line and operations by legal entity for local purposes.

Most of our revenues are generated in the U.S., Germany, Canada, the United Kingdom (UK) and other European countries. Substantially all our assets are located in the U.S. and Germany. Net sales to unaffiliated customers by country were as follows:

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
United States	$	31,894	$	28,799	$	95,817	$	88,136
Germany		3,889		3,317		10,916		10,246
Canada		3,337		2,615		10,567		8,093
United Kingdom		2,834		2,004		8,080		5,952
Other countries		12,865		10,676		38,766		32,174

Net Sales	$	54,819	$	47,411	$	164,146	$	144,601

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Note 8 - Share-based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock-based compensation	$ 1,610	$ 1,313	$ 4,829	$ 3,915
Share-Based Payment Arrangement, Option [Member]
Stock-based compensation	744	676	2,217	2,009
Restricted Stock Units (RSUs) [Member]
Stock-based compensation	556	481	1,690	1,443
Performance-based Restricted Units [Member]
Stock-based compensation	$ 310	$ 156	$ 922	$ 463

Note 8 - Share-based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement, Cost by Plan [Table Text Block]

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Stock option awards	$	744	$	676	$	2,217	$	2,009
Restricted stock units		556		481		1,690		1,443
Performance-based restricted stock units		310		156		922		463

Total share-based compensation	$	1,610	$	1,313	$	4,829	$	3,915

Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Cost of sales	$	218	$	168	$	657	$	504
Sales and marketing		276		248		821		712
General and administrative		952		765		2,860		2,310
Research and development		164		132		491		389

Total stock-based compensation	$	1,610	$	1,313	$	4,829	$	3,915

Note 5 - Leases (Tables)

9 Months Ended

Sep. 30, 2024

Lease, Cost [Table Text Block]

Location (leases)		Purpose	Approx. Sq. Ft.		Expiration

Americas
	Burlington, MA (4)	Corporate headquarters and manufacturing		96,476	December 2034
	North Brunswick, NJ (1)	Artegraft biologic business		16,732	October 2029
	Fox River Grove, IL (2)	RestoreFlow allografts business		14,632	December 2026
	Burlington, MA (1)	US distribution		12,878	December 2030
	Vaughn, Canada	Canada sales office and distribution		3,192	February 2026
	Chandler, Arizona	US sales office		2,058	August 2025

Europe, Middle East and Africa
	Sulzbach, Germany	European headquarters and distribution		21,410	June 2031
	Milan, Italy	Italy sales office and distribution		5,705	July 2027
	Hereford, England	United Kingdom sales office and distribution		3,575	October 2029
	Maisons-Alfort, France	France sales office		3,492	February 2030
	Madrid, Spain	Spain sales office		2,260	June 2029

Asia Pacific
	Tokyo, Japan	Japan sales office and distribution		4,236	July 2025
	Bangkok, Thailand	Thailand sales office and distribution		2,810	August 2026
	Kensington, Australia	Australia sales office and distribution		2,551	June 2025
	Seoul, Korea	Korea sales office and distribution		2,300	April 2027
	Singapore	Asia Pacific headquarters and distribution		1,270	June 2026
	Shanghai, China	China sales office and distribution		1,152	August 2025
	Ballarat, Australia	Supply facility	Up to 350 acres		December 2030

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024			2023
	(in thousands)				(in thousands)
Lease cost
Operating lease cost	$	487	$	797	$	1,936		$	1,941
Short-term lease cost		17		28		63			348
Total lease cost	$	504	$	825	$	1,999		$	2,289

Other information
Cash paid for amounts included in the measurement of operating lease liabilities	$	758	$	967	$	2,757		$	2,433

Right-of-use assets obtained in exchange for new operating lease liabilities	$	388	$	843	$	1,105		$	2,156


Weighted average remaining lease term - operating leases (in years)						7.8			6.7

Weighted average discount rate - operating leases						6.62	%		5.15	%

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

Remainder of 2024	$	980
Year ending December 31,
2025		3,725
2026		3,097
2027		2,628
2028		2,576
2029		2,520
Thereafter		8,544
Adjustment to net present value as of September 30, 2024		(5,744	)

Minimum noncancelable lease liability	$	18,326

Note 2 - Income Tax Expense

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Text Block]

2. Income Tax Expense

As part of the process of preparing our consolidated financial statements we are required to determine our income taxes in each of the jurisdictions in which we operate. This process involves estimating our actual current tax expense together with assessing temporary differences resulting from recognition of items for income tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheet. We must then assess the likelihood that our deferred tax assets will be recovered from taxable income during the carryback period or in the future; and to the extent we believe that recovery is not more likely than not, we must establish a valuation allowance. To the extent we establish a valuation allowance or increase this allowance in a period, we must reflect this increase as an expense within the tax provision in the statement of operations. We do not provide for income taxes on undistributed earnings of certain foreign subsidiaries, as our intention is to permanently reinvest these earnings.

We recognize, measure, present and disclose in our financial statements any uncertain tax positions that we have taken, or expect to take on a tax return. We operate in multiple taxing jurisdictions, both inside and outside the United States, and may be subject to audits from various tax authorities. Management’s judgment is required in determining our provision for income taxes, our deferred tax assets and liabilities, liabilities for uncertain tax positions, and any valuation allowance recorded against our net deferred tax assets. We will monitor the realizability of our deferred tax assets and adjust the valuation allowance accordingly.

Our policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense. Our 2024 income tax expense varies from the statutory rate mainly due to the generation of federal and state tax credits, permanent items, different statutory rates from our foreign subsidiaries, and discrete stock option exercises. Our 2023 income tax expense varied from the statutory rate mainly due to the generation of federal and state tax credits, permanent items, different statutory rates from our foreign subsidiaries, and discrete stock option exercises.

We have reviewed the tax positions taken, or to be taken, in our tax returns for all tax years currently open to examination by a taxing authority. As of September 30, 2024, the gross amount of unrecognized tax benefits exclusive of interest and penalties was $542,000. We remain subject to examination until the statute of limitations expires for each remaining respective tax jurisdiction. The statute of limitations will be open with respect to these tax positions until 2031. A reconciliation of beginning and ending amount of our unrecognized tax benefits is as follows:

	Nine months ended September 30, 2024
	(in thousands)
Unrecognized tax benefits as of December 31, 2023	$	587
Additions/adjustments for tax positions of current year		-
Additions/adjustments for tax positions of prior years		(3	)
Reductions for settlements with taxing authorities		-
Reductions for lapses of the applicable statutes of limitations		(42	)
Unrecognized tax benefits as of September 30, 2024	$	542

As of September 30, 2024, a summary of the tax years that remain subject to examination in our taxing jurisdictions is as follows:

United States	2020 and forward
Foreign	2015 and forward

The entire disclosure for income tax.

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Note 4 - Goodwill and Other Intangible Assets - Amortization Expense Included in General and Administrative Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortization expense	$ 1,464	$ 1,536	$ 4,408	$ 4,604

Note 13 - Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Balance	$ 297,900	$ 268,201
Balance	331,074	288,637
AOCI Attributable to Parent [Member]
Balance	(4,625)	(6,031)
Other comprehensive income (loss) before reclassifications	1,469	(674)
Balance	$ (3,156)	$ (6,705)

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Note 13 - Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Nine months ended
	September 30,
	2024			2023
	(in thousands)
Beginning balance	$	(4,625	)	$	(6,031	)

Other comprehensive income (loss) before reclassifications		1,469			(674	)

Ending Balance	$	(3,156	)	$	(6,705	)

Note 4 - Goodwill and Other Intangible Assets (Details Textual)	Sep. 30, 2024
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	16 years
Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life	9 years 6 months

Note 6 - Accrued Expenses and Other Long-term Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Accrued Liabilities [Table Text Block]

	September 30, 2024		December 31, 2023
	(in thousands)
Compensation and related taxes	$	13,183	$	13,353
Accrued purchases		5,661		5,152
Accrued expenses		3,347		4,251
Income and other taxes		735		390
Professional fees		91		104
Other		476		400

Total	$	23,493	$	23,650

Other Noncurrent Liabilities [Table Text Block]

	September 30, 2024		December 31, 2023
	(in thousands)
Acquisition-related liabilities	$	-	$	1,406
Income taxes		632		637
Other		264		225

Total	$	896	$	2,268

Note 5 - Leases

9 Months Ended

Sep. 30, 2024

Lessee, Operating Leases [Text Block]

5. Leases

The Company determines if an arrangement is a lease at inception of the contract. The Company has operating leases for buildings, primarily for office space, manufacturing and distribution, as well as automobiles and printing equipment. As of September 30, 2024, the Company had the following building and facility leases capitalized on the balance sheet:

Location (leases)		Purpose	Approx. Sq. Ft.		Expiration

Americas
	Burlington, MA (4)	Corporate headquarters and manufacturing		96,476	December 2034
	North Brunswick, NJ (1)	Artegraft biologic business		16,732	October 2029
	Fox River Grove, IL (2)	RestoreFlow allografts business		14,632	December 2026
	Burlington, MA (1)	US distribution		12,878	December 2030
	Vaughn, Canada	Canada sales office and distribution		3,192	February 2026
	Chandler, Arizona	US sales office		2,058	August 2025

Europe, Middle East and Africa
	Sulzbach, Germany	European headquarters and distribution		21,410	June 2031
	Milan, Italy	Italy sales office and distribution		5,705	July 2027
	Hereford, England	United Kingdom sales office and distribution		3,575	October 2029
	Maisons-Alfort, France	France sales office		3,492	February 2030
	Madrid, Spain	Spain sales office		2,260	June 2029

Asia Pacific
	Tokyo, Japan	Japan sales office and distribution		4,236	July 2025
	Bangkok, Thailand	Thailand sales office and distribution		2,810	August 2026
	Kensington, Australia	Australia sales office and distribution		2,551	June 2025
	Seoul, Korea	Korea sales office and distribution		2,300	April 2027
	Singapore	Asia Pacific headquarters and distribution		1,270	June 2026
	Shanghai, China	China sales office and distribution		1,152	August 2025
	Ballarat, Australia	Supply facility	Up to 350 acres		December 2030

Operating lease right-of-use (ROU) assets and operating lease liabilities are recognized based on the present value of the future lease minimum payments over the lease term at commencement date. Many of the lease agreements contain renewal or termination clauses that are factored into the determination of the lease term if it is reasonably certain that these options would be exercised. The Company recognizes lease expense for these leases on a straight-line basis over the lease term.

None of our noncancelable lease payments include non-lease components such as maintenance contracts; we generally reimburse the landlord for direct operating costs associated with the leased space. We have no subleases, and there are no residual value guarantees associated with, or restrictive covenants imposed by, any of our leases. There were no assets held under capital leases as of September 30, 2024. We elected the package of practical expedients that allow us to omit leases with initial terms of 12 months or less from our balance sheet, which are expensed on a straight-line basis over the life of the lease.

The interest rate implicit in lease agreements is typically not readily determinable, and as such the Company used the incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The incremental borrowing rate is defined as the interest the Company would pay to borrow on a collateralized basis.

Additional information with respect to our leases is as follows:

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024			2023
	(in thousands)				(in thousands)
Lease cost
Operating lease cost	$	487	$	797	$	1,936		$	1,941
Short-term lease cost		17		28		63			348
Total lease cost	$	504	$	825	$	1,999		$	2,289

Other information
Cash paid for amounts included in the measurement of operating lease liabilities	$	758	$	967	$	2,757		$	2,433

Right-of-use assets obtained in exchange for new operating lease liabilities	$	388	$	843	$	1,105		$	2,156


Weighted average remaining lease term - operating leases (in years)						7.8			6.7

Weighted average discount rate - operating leases						6.62	%		5.15	%

As of September 30, 2024, the minimum noncancelable operating lease rental commitments with initial or remaining terms of more than one year are as follows:

Remainder of 2024	$	980
Year ending December 31,
2025		3,725
2026		3,097
2027		2,628
2028		2,576
2029		2,520
Thereafter		8,544
Adjustment to net present value as of September 30, 2024		(5,744	)

Minimum noncancelable lease liability	$	18,326

Note 9 - Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
	(in thousands, except per share data)				(in thousands, except per share data)
Basic:
Net income available for common stockholders	$	11,141	$	7,502	$	32,854	$	21,640

Weighted average shares outstanding		22,476		22,263		22,433		22,196

Basic earnings per share	$	0.50	$	0.34	$	1.46	$	0.97

Diluted:
Net income available for common stockholders	$	11,141	$	7,502	$	32,854	$	21,640

Weighted-average shares outstanding		22,476		22,263		22,433		22,196
Common stock equivalents, if dilutive		360		218		290		215

Shares used in computing diluted earnings per common share		22,836		22,481		22,723		22,411

Diluted earnings per share	$	0.49	$	0.33	$	1.45	$	0.97

Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive		-		192		24		286

Note 6 - Accrued Expenses and Other Long-term Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Compensation and related taxes	$ 13,183	$ 13,353
Accrued purchases	5,661	5,152
Accrued expenses	3,347	4,251
Income and other taxes	735	390
Professional fees	91	104
Other	476	400
Total	$ 23,493	$ 23,650

Note 12 - Fair Value Measurements (Details Textual) - CardioCel and VascuCel Biologic Patches [Member] - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2019	Oct. 11, 2019
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 7.8
Fair Value, Inputs, Level 3 [Member]
Business Combination, Contingent Consideration, Liability			$ 2.3
Audited Carve-Out Financial Statements of the Acquired Business [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		0.3
Third Holdback [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 2.0	2.0
Extension of Product Shelf Life from 36 Months to 60 Months in the First Anniversary of Closing Date [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		0.5
Achievement of Specified Levels of Revenues [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 5.0

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting only of normal, recurring adjustments considered necessary for a fair presentation of the results of these interim periods have been included. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Our estimates and assumptions, including those related to bad debts, inventories, intangible assets, sales returns and discounts, share-based compensation, and income taxes are updated as appropriate. The results for the nine months ended September 30, 2024 are not necessarily indicative of results to be expected for the entire year. The information contained in these interim financial statements should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2023, including the notes thereto, included in our Form 10-K filed with the Securities and Exchange Commission (SEC) on February 29, 2024.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. The Company is not aware of any specific event or circumstance that would require an update to its accounting estimates or adjustments to the carrying value of its assets and liabilities as of November 8, 2024, the issuance date of this Quarterly Report on Form 10-Q. Actual results could differ from those estimates.

Consolidation, Policy [Policy Text Block]

Consolidation

Our consolidated financial statements include the accounts of LeMaitre Vascular and the accounts of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition

Our revenue is derived primarily from the sale of disposable or implantable devices used during vascular surgery. We sell primarily direct to hospitals and to a lesser extent to international distributors, as described below, and, during the periods presented in our consolidated financial statements, entered into consigned inventory arrangements with either hospitals or distributors on a limited basis. We also derive revenues from the processing and cryopreservation of human tissues for implantation in patients. These revenues are recognized when services have been provided and the tissue has been shipped to the customer, provided all other revenue recognition criteria discussed in the succeeding paragraph have been met.

We record revenue under the provisions of ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The core principle of Topic 606 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard explains that to achieve the core principle, an entity should take the following actions:

Step 1: Identify the contract with a customer

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to the performance obligations

Step 5: Recognize revenue when or as the entity satisfies a performance obligation

Revenue is recognized when the Company satisfies a performance obligation by transferring the promised good or service to a customer (which is when the customer obtains control of that good or service). In instances in which shipping and handling activities are performed after a customer takes control of the goods (such as when title passes upon shipment from our dock), we have made the policy election allowed under Topic 606 to account for these activities as fulfillment costs and not as performance obligations.

We generally reference customer purchase orders to determine the existence of a contract. Orders that are not accompanied by a purchase order are confirmed with the customer either in writing or verbally. The purchase orders or similar correspondence, once accepted, identify the performance obligations as well as the transaction price, and otherwise outline the rights and obligations of each party. We allocate the transaction price of each contract among the performance obligations in accordance with the pricing of each item specified on the purchase order, which is in turn based on standalone selling prices per our published price lists. In cases where we discount products or provide certain items free of charge, we allocate the discount proportionately to all performance obligations, unless it can be demonstrated that the discount should be allocated entirely to one or more, but not all, of the performance obligations.

We record revenue, net of allowances for returns and discounts, fees paid to group purchasing organizations, and any sales and value added taxes required to be invoiced, which we have elected to exclude from the measurement of the transaction price as allowed by the standard, at the time of shipment (taking into consideration contractual shipping terms), or in the case of consigned inventory, when it is consumed. Shipment is the point at which control of the product and title passes to our customers, and at which LeMaitre has a present right to receive payment for the goods.

Below is a disaggregation of our revenue by major geographic area, which is among the primary categorizations used by management in evaluating financial performance, for the periods indicated (in thousands):

	Three months ended September 30,				Nine months ended September 30,

	2024		2023		2024		2023
	(in thousands)				(in thousands)

Americas	$	35,802	$	31,863	$	107,954	$	97,496
Europe, Middle East and Africa		15,001		12,322		44,694		38,179
Asia Pacific		4,016		3,226		11,498		8,926
Total	$	54,819	$	47,411	$	164,146	$	144,601

We do not carry any contract assets or contract liabilities, as there are generally no unbilled amounts due from customers under contracts for which we have partially satisfied performance obligations, or amounts received from customers for which we have not satisfied performance obligations. We satisfy our performance obligations under revenue contracts within a short time period from receipt of the orders, and payments from customers are typically received within 30 to 60 days of fulfillment of the orders, except in certain geographies such as Italy, Spain and France where the payment cycle is customarily longer. Accordingly, there is no significant financing component to our revenue contracts. Additionally, we have elected as a policy that incremental costs (such as commissions) incurred to obtain contracts are expensed as incurred, due to the short-term nature of the contracts.

Customers returning products may be entitled to full or partial credit based on the condition and timing of the return. To be accepted, a returned product must be unopened (if sterile), unadulterated, and undamaged, must have at least 18 months remaining prior to its expiration date, or twelve months for our hospital customers in Europe, and generally be returned within 30 days of shipment. These return policies apply to sales to both hospitals and distributors. The amount of products returned to us, either for exchange or credit, has not been material. Nevertheless, we provide for an allowance for future sales returns based on historical returns experience, which requires judgment. Our cost of replacing defective products has not been material and is accounted for at the time of replacement.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and are generally adopted by the Company as of the specified effective date.

In December 2023 the FASB issued ASU 2023-09, Income Taxes Topic 740 - Improvements to Income Tax Disclosures. This amendment is expected to enhance the transparency and decision usefulness of income tax disclosures by requiring public business entities, on an annual basis, to disclose specific categories in the rate reconciliation, additional information for reconciling items that meet a quantitative threshold and certain information about income taxes paid. This revised guidance is effective for financial statements issued for fiscal years beginning after December 15, 2024. We are currently evaluating the impacts of the new standard.

In November 2023 the FASB issued ASU 2023-07, Segment Reporting Topic 280- Improvements to Reportable Segment Disclosures. This amendment requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. We are currently evaluating the impacts of the new standard.

There are no other accounting pronouncements recently issued or newly effective that had, or are expected to have, a material impact on the Company’s consolidated financial statements.

Disclosure of accounting policy for revenue from contract with customer.

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Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,309	$ 941
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares outstanding (in shares)	0		0
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	37,000,000	37,000,000
Common Stock, Shares, Issued (in shares)	24,073,835	23,911,760
Treasury Stock, Common, Shares (in shares)	1,590,478	1,584,512

Note 7 - Segment and Enterprise-wide Disclosures - Net Sales to Unaffiliated Customers by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Sales	$ 54,819	$ 47,411	$ 164,146	$ 144,601
UNITED STATES
Net Sales	31,894	28,799	95,817	88,136
GERMANY
Net Sales	3,889	3,317	10,916	10,246
CANADA
Net Sales	3,337	2,615	10,567	8,093
UNITED KINGDOM
Net Sales	2,834	2,004	8,080	5,952
Other Countries [Member]
Net Sales	$ 12,865	$ 10,676	$ 38,766	$ 32,174

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales	$ 54,819	$ 47,411	$ 164,146	$ 144,601
Cost of sales	17,641	16,596	51,835	50,817
Gross profit	37,178	30,815	112,311	93,784
Sales and marketing	11,441	9,673	34,111	30,786
General and administrative	8,933	7,738	26,766	23,392
Research and development	3,656	4,224	12,032	12,615
Restructuring	0	0	0	485
Total operating expenses	24,030	21,635	72,909	67,278
Income from operations	13,148	9,180	39,402	26,506
Other income (expense):
Interest income	1,201	835	3,339	2,085
Foreign currency loss	202	(189)	113	(429)
Income before income taxes	14,551	9,826	42,854	28,162
Provision for income taxes	3,410	2,324	10,000	6,522
Net income	$ 11,141	$ 7,502	$ 32,854	$ 21,640
Earnings per share of common stock:
Basic (in dollars per share)	$ 0.5	$ 0.34	$ 1.46	$ 0.97
Diluted (in dollars per share)	$ 0.49	$ 0.33	$ 1.45	$ 0.97
Weighted-average shares outstanding:
Basic (in shares)	22,476	22,263	22,433	22,196
Diluted (in shares)	22,836	22,481	22,723	22,411
Cash dividends declared per common share (in dollars per share)	$ 0.16	$ 0.14	$ 0.48	$ 0.42

Note 5 - Leases - Minimum Rental Commitments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Remainder of 2024	$ 980
2025	3,725
2026	3,097
2027	2,628
2028	2,576
2029	2,520
Thereafter	8,544
Adjustment to net present value as of September 30, 2024	(5,744)
Minimum noncancelable lease liability	$ 18,326

Note 10 - Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Dividends Payable [Table Text Block]

Record Date	Payment Date	Per Share Amount		Dividend Payment
				(in thousands)
Fiscal Year 2024
March 14, 2024	March 28, 2024	$	0.16	$	3,589
May 16, 2024	May 30, 2024	$	0.16	$	3,593
August 15, 2024	August 29, 2024	$	0.16	$	3,596

Fiscal Year 2023
March 9, 2023	March 23, 2023	$	0.14	$	3,099
May 17, 2023	June 1, 2023	$	0.14	$	3,116
August 17, 2023	August 31, 2023	$	0.14	$	3,117
November 16, 2023	November 30, 2023	$	0.14	$	3,117

Note 1 - Organization and Basis for Presentation - Disaggregation of Revenue by Major Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue	$ 54,819	$ 47,411	$ 164,146	$ 144,601
Americas [Member]
Revenue	35,802	31,863	107,954	97,496
EMEA [Member]
Revenue	15,001	12,322	44,694	38,179
Asia Pacific [Member]
Revenue	$ 4,016	$ 3,226	$ 11,498	$ 8,926

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Note 7 - Segment and Enterprise-wide Disclosures (Details Textual)	9 Months Ended
	Sep. 30, 2023
Number of Operating Segments	1

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Nov. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-33092
Entity Registrant Name	LEMAITRE VASCULAR, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2825458
Entity Address, Address Line One	63 Second Avenue
Entity Address, City or Town	Burlington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01803
City Area Code	781
Local Phone Number	221-2266
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	LMAT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		22,484,021
Entity Central Index Key	0001158895
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Note 13 - Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2024

Comprehensive Income (Loss) Note [Text Block]

13. Accumulated Other Comprehensive Loss

Changes to our accumulated other comprehensive loss for the nine months ended September 30, 2024 and 2023 consisted primarily of foreign currency translation and unrealized losses on short-term marketable securities:

	Nine months ended
	September 30,
	2024			2023
	(in thousands)
Beginning balance	$	(4,625	)	$	(6,031	)

Other comprehensive income (loss) before reclassifications		1,469			(674	)

Ending Balance	$	(3,156	)	$	(6,705	)

Note 9 - Net Income Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Text Block]

9. Net Income per Share

The computation of basic and diluted net income per share is as follows:

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
	(in thousands, except per share data)				(in thousands, except per share data)
Basic:
Net income available for common stockholders	$	11,141	$	7,502	$	32,854	$	21,640

Weighted average shares outstanding		22,476		22,263		22,433		22,196

Basic earnings per share	$	0.50	$	0.34	$	1.46	$	0.97

Diluted:
Net income available for common stockholders	$	11,141	$	7,502	$	32,854	$	21,640

Weighted-average shares outstanding		22,476		22,263		22,433		22,196
Common stock equivalents, if dilutive		360		218		290		215

Shares used in computing diluted earnings per common share		22,836		22,481		22,723		22,411

Diluted earnings per share	$	0.49	$	0.33	$	1.45	$	0.97

Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive		-		192		24		286

Note 1 - Organization and Basis for Presentation (Tables)

9 Months Ended

Sep. 30, 2024

Disaggregation of Revenue [Table Text Block]

	Three months ended September 30,				Nine months ended September 30,

	2024		2023		2024		2023
	(in thousands)				(in thousands)

Americas	$	35,802	$	31,863	$	107,954	$	97,496
Europe, Middle East and Africa		15,001		12,322		44,694		38,179
Asia Pacific		4,016		3,226		11,498		8,926
Total	$	54,819	$	47,411	$	164,146	$	144,601

Note 10 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
	Oct. 24, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Feb. 21, 2024
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.16	$ 0.14	$ 0.48	$ 0.42
O 2024 Q4 Dividends [Member] \| Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.16
Dividends Payable, Date to be Paid	Dec. 05, 2024
Dividends Payable, Date of Record	Nov. 21, 2024
Stock Repurchase Program [Member] \| Common Stock [Member]
Share Repurchase Program, Authorized, Amount						$ 50

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income	$ 32,854	$ 21,640
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,192	7,072
Stock-based compensation	4,829	3,915
Provision for inventory write-downs	2,114	1,455
Provision for doubtful accounts	496	60
Fair value adjustment to contingent consideration obligations	70	(49)
Loss on divestitures	0	485
Foreign currency effect on net income	229	(7)
Changes in operating assets and liabilities:
Accounts receivable	(7,435)	(2,077)
Inventory and other deferred costs	(8,932)	(7,582)
Prepaid expenses and other assets	64	(1,160)
Accounts payable and other liabilities	(2,539)	2,253
Net cash provided by operating activities	28,942	26,005
Investing activities
Purchases of property and equipment and other assets	(4,918)	(5,986)
Purchases of short-term marketable securities	(21,310)	(15,569)
Payments related to acquisitions	0	(899)
Net cash used in investing activities	(26,228)	(22,454)
Financing activities
Proceeds from stock option exercises	5,165	5,073
Purchase of treasury stock for net settlement of equity awards	(366)	(186)
Common stock cash dividend paid	(10,778)	(9,332)
Net cash used in financing activities	(5,979)	(4,445)
Effect of exchange rate changes on cash and cash equivalents	(3)	(189)
Net increase (decrease) in cash and cash equivalents	(3,268)	(1,083)
Cash and cash equivalents at beginning of period	24,269	19,134
Cash and cash equivalents at end of period	$ 21,001	$ 18,051

Note 6 - Accrued Expenses and Other Long-term Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Acquisition-related liabilities	$ 0	$ 1,406
Income taxes	632	637
Other	264	225
Total	$ 896	$ 2,268

Note 10 - Stockholders' Equity - Dividend Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash dividends declared per common share (in dollars per share)	$ 0.16				$ 0.14			$ 0.48	$ 0.42
Common stock dividend paid	$ 3,596	$ 3,593	$ 3,589		$ 3,117	$ 3,116	$ 3,099
O 2024 Q1 Dividends [Member]
Payment date			Mar. 28, 2024
Cash dividends declared per common share (in dollars per share)			$ 0.16
Common stock dividend paid			$ 3,589
O 2024 Q2 Dividends [Member]
Payment date	May 30, 2024
Cash dividends declared per common share (in dollars per share)	$ 0.16
Common stock dividend paid	$ 3,593
O 2024 Q3 Dividends [Member]
Payment date	Aug. 29, 2024
Cash dividends declared per common share (in dollars per share)	$ 0.16
Common stock dividend paid	$ 3,596
O 2023 Q1 Dividends [Member]
Payment date							Mar. 23, 2023
Cash dividends declared per common share (in dollars per share)							$ 0.14
Common stock dividend paid							$ 3,099
O 2023 Q2 Dividends [Member]
Payment date					Jun. 01, 2023
Cash dividends declared per common share (in dollars per share)					$ 0.14
Common stock dividend paid					$ 3,116
O 2023 Q3 Dividends [Member]
Payment date					Aug. 31, 2023
Cash dividends declared per common share (in dollars per share)					$ 0.14
Common stock dividend paid					$ 3,117
O 2023 Q4 Dividends [Member]
Payment date				Nov. 30, 2023
Cash dividends declared per common share (in dollars per share)				$ 0.14
Common stock dividend paid				$ 3,117

Note 4 - Goodwill and Other Intangible Assets - Estimated Amortization Expense for Each of Five Succeeding Fiscal Years (Details) $ in Thousands	Sep. 30, 2024 USD ($)
2023	$ 1,448
2024	5,601
2025	5,119
2026	4,842
2027	4,456
2028	$ 4,423

Note 1 - Organization and Basis for Presentation (Details Textual)	9 Months Ended
	Sep. 30, 2024
Minimum [Member]
Period of Payments Received from Customers	30 days
Maximum [Member]
Period of Payments Received from Customers	60 days

Note 11 - Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

	For the nine months ended
	September 30,
	2024		2023
	(in thousands)
Cash paid for income taxes, net	$	9,626	$	5,420

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 21,001	$ 24,269
Short-term marketable securities	102,888	80,805
Accounts receivable, net of allowances of $1,309 at September 30, 2024 and $941 at December 31, 2023	32,269	25,064
Inventory and other deferred costs	65,021	58,080
Prepaid expenses and other current assets	5,937	6,380
Total current assets	227,116	194,598
Property and equipment, net	23,924	21,754
Right-of-use leased assets	17,195	18,027
Goodwill	65,945	65,945
Other intangibles, net	37,303	41,711
Deferred tax assets	1,310	1,003
Other assets	4,232	3,740
Total assets	377,025	346,778
Current liabilities:
Accounts payable	1,651	3,734
Accrued expenses	23,493	23,650
Acquisition-related obligations	1,476	24
Lease liabilities - short-term	2,723	2,471
Total current liabilities	29,343	29,879
Lease liabilities - long-term	15,603	16,624
Deferred tax liabilities	109	107
Other long-term liabilities	896	2,268
Total liabilities	45,951	48,878
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized 3,000,000 shares; none outstanding	0	0
Common stock, $0.01 par value; authorized 37,000,000 shares; issued 24,073,835 shares at September 30, 2024, and 23,911,760 shares at December 31, 2023	241	239
Additional paid-in capital	210,748	200,755
Retained earnings	137,506	115,430
Accumulated other comprehensive loss	(3,156)	(4,625)
Treasury stock, at cost; 1,590,478 shares at September 30, 2024 and 1,584,512 shares at December 31, 2023	(14,265)	(13,899)
Total stockholders’ equity	331,074	297,900
Total liabilities and stockholders’ equity	$ 377,025	$ 346,778

Note 4 - Goodwill and Other Intangible Assets - Components of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Gross carrying value	$ 72,130	$ 72,130
Accumulated amortization	34,827	30,419
Other intangibles, net	37,303	41,711
Product Technology and Intellectual Property [Member]
Gross carrying value	29,549	29,549
Accumulated amortization	18,044	16,048
Other intangibles, net	11,505	13,501
Trademarks, Tradenames and Licenses [Member]
Gross carrying value	3,767	3,767
Accumulated amortization	2,173	1,909
Other intangibles, net	1,594	1,858
Customer Relationships [Member]
Gross carrying value	37,171	37,171
Accumulated amortization	13,048	11,064
Other intangibles, net	24,123	26,107
Other Intangible Assets [Member]
Gross carrying value	1,643	1,643
Accumulated amortization	1,562	1,398
Other intangibles, net	$ 81	$ 245

Note 2 - Income Tax Expense (Details Textual) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Unrecognized Tax Benefits	$ 542,000	$ 587,000

Note 5 - Leases - Additional Lease Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2023 USD ($)
Operating lease cost \| $	$ 487	$ 797	$ 1,936	$ 1,941
Short-term lease cost \| $	17	28	63	348
Total lease cost \| $	504	825	1,999	2,289
Cash paid for amounts included in the measurement of operating lease liabilities \| $	758	967	2,757	2,433
Right-of-use assets obtained in exchange for new operating lease liabilities \| $	$ 388	$ 843	$ 1,105	$ 2,156
Weighted average remaining lease term - operating leases (in years) (Year)	7 years 9 months 18 days	6 years 8 months 12 days	7 years 9 months 18 days	6 years 8 months 12 days
Weighted average discount rate - operating leases	6.62%	5.15%	6.62%	5.15%
Americas [Member] \| Principal Worldwide Executive, Distribution, and Manufacturing Operations Facilities [Member]
Burlington, MA (5) (Square Foot)	96,476		96,476
Americas [Member] \| North Brunswick, New Jersey [Member]
Burlington, MA (5) (Square Foot)	16,732		16,732
Americas [Member] \| Fox River Grove, Illinois [Member]
Burlington, MA (5) (Square Foot)	14,632		14,632
Americas [Member] \| US Distribution in Burlington, MA [Member]
Burlington, MA (5) (Square Foot)	12,878		12,878
Americas [Member] \| Vaughn, Canada Lease [Member]
Burlington, MA (5) (Square Foot)	3,192		3,192
Americas [Member] \| Chandler, Arizona Lease [Member]
Burlington, MA (5) (Square Foot)	2,058		2,058
EMEA [Member] \| International Operations Headquarter Facility [Member]
Burlington, MA (5) (Square Foot)	21,410		21,410
EMEA [Member] \| Milan, Italy Lease [Member]
Burlington, MA (5) (Square Foot)	5,705		5,705
EMEA [Member] \| Hereford, England [Member]
Burlington, MA (5) (Square Foot)	3,575		3,575
EMEA [Member] \| France Sales Office Lease [Member]
Burlington, MA (5) (Square Foot)	3,492		3,492
EMEA [Member] \| Madrid, Spain Lease [Member]
Burlington, MA (5) (Square Foot)	2,260		2,260
Asia Pacific [Member] \| International Operations Headquarter Facility [Member]
Burlington, MA (5) (Square Foot)	1,270		1,270
Asia Pacific [Member] \| Tokyo, Japan Lease [Member]
Burlington, MA (5) (Square Foot)	4,236		4,236
Asia Pacific [Member] \| Bangkok, Thailand Lease [Member]
Burlington, MA (5) (Square Foot)	2,810		2,810
Asia Pacific [Member] \| Kensington, Australia [Member]
Burlington, MA (5) (Square Foot)	2,551		2,551
Asia Pacific [Member] \| Seoul, Korea Lease [Member]
Burlington, MA (5) (Square Foot)	2,300		2,300
Asia Pacific [Member] \| Shanghai, China Lease [Member]
Burlington, MA (5) (Square Foot)	1,152		1,152
Asia Pacific [Member] \| Victoria, Australia Lease [Member]
Burlington, MA (5) (Square Foot)	350		350

Note 6 - Accrued Expenses and Other Long-term Liabilities

9 Months Ended

Sep. 30, 2024

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block]

6. Accrued Expenses and Other Long-term Liabilities

Accrued expenses consist of the following:

	September 30, 2024		December 31, 2023
	(in thousands)
Compensation and related taxes	$	13,183	$	13,353
Accrued purchases		5,661		5,152
Accrued expenses		3,347		4,251
Income and other taxes		735		390
Professional fees		91		104
Other		476		400

Total	$	23,493	$	23,650

Other long-term liabilities consist of the following:

	September 30, 2024		December 31, 2023
	(in thousands)
Acquisition-related liabilities	$	-	$	1,406
Income taxes		632		637
Other		264		225

Total	$	896	$	2,268

Note 8 - Share-based Compensation (Details Textual) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	0	1,660
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture	162,075	179,954
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	280	944
Performance-based Restricted Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	0	310

Note 11 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid for income taxes, net	$ 9,626	$ 5,420

Note 4 - Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	September 30, 2024						December 31, 2023
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Value		Amortization		Value		Value		Amortization		Value
	(in thousands)
Product technology and intellectual property	$	29,549	$	18,044	$	11,505	$	29,549	$	16,048	$	13,501
Trademarks, tradenames and licenses		3,767		2,173		1,594		3,767		1,909		1,858
Customer relationships		37,171		13,048		24,123		37,171		11,064		26,107
Other intangible assets		1,643		1,562		81		1,643		1,398		245

Total identifiable intangible assets	$	72,130	$	34,827	$	37,303	$	72,130	$	30,419	$	41,711

Finite-Lived Intangible Assets Amortization Expense [Table Text Block]

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)

Amortization expense	$	1,464	$	1,536	$	4,408	$	4,604

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

	Year ended December 31,
	2024		2025		2026		2027		2028		2029
	(in thousands)

Amortization expense	$	1,448	$	5,601	$	5,119	$	4,842	$	4,456	$	4,423

Note 2 - Income Tax Expense - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details)	9 Months Ended
	Sep. 30, 2024 USD ($)
Unrecognized tax benefits as of December 31, 2022	$ 587,000
Additions/adjustments for tax positions of current year	0
Additions/adjustments for tax positions of prior years	(3,000)
Reductions for settlements with taxing authorities	0
Reductions for lapses of the applicable statutes of limitations	(42,000)
Unrecognized tax benefits as of March 31, 2023	$ 542,000

Note 3 - Inventories and Other Deferred Costs (Details Textual) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	$ 2	$ 2

Note 1 - Organization and Basis for Presentation

9 Months Ended

Sep. 30, 2024

Significant Accounting Policies [Text Block]

1. Organization and Basis for Presentation

Description of Business

Unless the context requires otherwise, references to LeMaitre, LeMaitre Vascular, the Company, we, our, and us refer to LeMaitre Vascular, Inc. and our subsidiaries. We develop, manufacture, and market medical devices and implants used primarily in the field of vascular surgery. We also derive revenues from the processing and cryopreservation of human tissues for implantation in patients. We operate in a single segment in which our principal product lines include the following: anastomotic clips, biologic vascular and dialysis grafts, biologic vascular and cardiac patches, carotid shunts, embolectomy catheters, occlusion catheters, radiopaque marking tape, synthetic vascular and dialysis grafts, and valvulotomes. Our offices and production facilities are located in Burlington, Massachusetts; Fox River Grove, Illinois; North Brunswick, New Jersey; Vaughan, Canada; Sulzbach, Germany; Milan, Italy; Madrid, Spain; Hereford, England; Dublin, Ireland; Maisons-Alfort, France; Kensington, Australia; Tokyo, Japan; Shanghai, China; Singapore; Seoul, Korea; and Bangkok, Thailand.

Basis of Presentation

Consolidation

Revenue Recognition

Step 1: Identify the contract with a customer

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to the performance obligations

Step 5: Recognize revenue when or as the entity satisfies a performance obligation

	Three months ended September 30,				Nine months ended September 30,

	2024		2023		2024		2023
	(in thousands)				(in thousands)

Americas	$	35,802	$	31,863	$	107,954	$	97,496
Europe, Middle East and Africa		15,001		12,322		44,694		38,179
Asia Pacific		4,016		3,226		11,498		8,926
Total	$	54,819	$	47,411	$	164,146	$	144,601

Recent Accounting Pronouncements

There are no other accounting pronouncements recently issued or newly effective that had, or are expected to have, a material impact on the Company’s consolidated financial statements.

Note 3 - Inventories and Other Deferred Costs (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Inventory, Current [Table Text Block]

	September 30, 2024		December 31, 2023
	(in thousands)
Raw materials	$	20,323	$	18,333
Work-in-process		2,966		2,869
Finished products		33,796		31,131
Other deferred costs		7,936		5,747

Total inventory and other deferred costs	$	65,021	$	58,080

Note 12 - Fair Value Measurements

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Text Block]

12. Fair Value Measurements

The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:

•

Level 1 — Quoted prices in active markets for identical assets or liabilities.

•

Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

•

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Level 1 assets being measured at fair value on a recurring basis as of September 30, 2024, included our short-term investment and short-duration bond mutual fund accounts.

We had no Level 2 assets being measured at fair value on a recurring basis as of September 30, 2024.

Several of our acquisition-related assets and liabilities have been measured using Level 3 techniques. During 2019, we recorded contingent liabilities associated with our acquisition of the Anteris biologic patch business. The agreement includes the potential for us to pay up to $7.8 million of additional consideration beyond payments made to date, with $0.3 million contingent upon the delivery of audited financial statements of the acquired business to us; $2.0 million (CE Mark Contingency) contingent on LeMaitre’s success in obtaining CE marks under MDR regulations on the acquired products; $0.5 million contingent upon Anteris’ success in extending the shelf life of the acquired products as specified in the agreement; and another $5.0 million contingent on the achievement of specified levels of revenues in the first 12 and 24 months following the acquisition date. This additional contingent consideration was initially valued in total at $2.3 million and is being re-measured each quarter until the payment requirement ends, with any adjustments reported in income from operations. The contingent payment related to the delivery of audited financial statements of the business was paid in November 2019 upon satisfaction of the deliverable. The contingent payments related to Anteris’ extending the shelf life of the acquired products and achieving the revenue targets during the first 12- and 24-month periods following the acquisition were not met, and the portion of the liabilities related to these items was adjusted through income from operations. The agreement was amended in August 2021 such that the CE Mark Contingency amount may be reduced for certain costs incurred by LeMaitre in achieving the CE marks.

In September 2023 the agreement was amended in order to (i) place a cap on the total amount of costs incurred by LeMaitre in achieving the CE marks under MDR regulations that could be used as a deduction toward the $2.0 million holdback, and (ii) require a prorata payment to Anteris of the CE Mark Contingency, less costs described above, by January 2025 if the CE marks are not obtained by that date.

The following table provides a roll-forward of the fair value of these liabilities, as determined by Level 3 unobservable inputs including management’s forecast of future revenues for the acquired businesses, as well as management’s estimates of the likelihood of achieving the other specified criteria:

	Nine months ended September 30,
	2024		2023
	(in thousands)
Beginning balance	$	1,224	$	1,339
Additions		-		-
Payments		-		-
Change in fair value included in earnings		70		(63	)

Ending balance	$	1,294	$	1,276

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Note 7 - Segment and Enterprise-wide Disclosures (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
United States	$	31,894	$	28,799	$	95,817	$	88,136
Germany		3,889		3,317		10,916		10,246
Canada		3,337		2,615		10,567		8,093
United Kingdom		2,834		2,004		8,080		5,952
Other countries		12,865		10,676		38,766		32,174

Net Sales	$	54,819	$	47,411	$	164,146	$	144,601

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income	$ 11,141	$ 7,502	$ 32,854	$ 21,640
Other comprehensive income (loss):
Foreign currency translation adjustment, net	1,076	(833)	696	(492)
Unrealized gain (loss) on short-term marketable securities	862	(50)	773	(182)
Total other comprehensive income (loss)	1,938	(883)	1,469	(674)
Comprehensive income	$ 13,079	$ 6,619	$ 34,323	$ 20,966

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Note 3 - Inventories and Other Deferred Costs

9 Months Ended

Sep. 30, 2024

Inventory and Other Deferred Costs Disclosure [Text Block]

3. Inventories and Other Deferred Costs

Inventories and other deferred costs consist of the following:

	September 30, 2024		December 31, 2023
	(in thousands)
Raw materials	$	20,323	$	18,333
Work-in-process		2,966		2,869
Finished products		33,796		31,131
Other deferred costs		7,936		5,747

Total inventory and other deferred costs	$	65,021	$	58,080

We had inventory on consignment at customer sites of $2.0 million as of September 30, 2024 and December 31, 2023, respectively.

In connection with our RestoreFlow allograft business, other deferred costs include costs incurred for the preservation of human tissues available for shipment, tissues currently in active processing, and tissues held in quarantine pending release to implantable status. By federal law, human tissues cannot be bought or sold. Therefore, the tissues we preserve are not held as inventory, and the costs we incur to procure and process vascular tissues are instead accumulated and deferred. These costs include fixed and variable overhead costs associated with the cryopreservation process, including primarily direct labor costs, tissue recovery fees, inbound freight charges, indirect materials and facilities costs. General and administrative expenses and selling expenses associated with the provision of these services are expensed as incurred.

Note 10 - Stockholders' Equity

9 Months Ended

Sep. 30, 2024

Equity [Text Block]

10. Stockholders’ Equity

Share Repurchase Program

On February 21, 2024, our Board of Directors authorized the repurchase of up to $50.0 million of the Company’s common stock through transactions on the open market, in privately negotiated purchases or otherwise until February 21, 2025. The repurchase program may be suspended or discontinued at any time. To date we have not made any repurchases under this program.

Dividends

In February 2011, our Board of Directors approved a policy for the payment of quarterly cash dividends on our common stock. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by our Board of Directors on a quarterly basis. The dividend activity for the periods presented is as follows:

Record Date	Payment Date	Per Share Amount		Dividend Payment
				(in thousands)
Fiscal Year 2024
March 14, 2024	March 28, 2024	$	0.16	$	3,589
May 16, 2024	May 30, 2024	$	0.16	$	3,593
August 15, 2024	August 29, 2024	$	0.16	$	3,596

Fiscal Year 2023
March 9, 2023	March 23, 2023	$	0.14	$	3,099
May 17, 2023	June 1, 2023	$	0.14	$	3,116
August 17, 2023	August 31, 2023	$	0.14	$	3,117
November 16, 2023	November 30, 2023	$	0.14	$	3,117

On October 24, 2024, our Board of Directors approved a quarterly cash dividend on our common stock of $0.16 per share payable on December 5, 2024, to stockholders of record at the close of business on November 21, 2024.

The entire disclosure for equity.

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Note 4 - Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2024