0001437749-25-005637 | 10-K | XBRL Viewer

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Note 9 - Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory	$ 2,682	$ 2,280
Net operating loss carryforwards	774	942
Tax credit carryforwards	1,138	1,092
Capital loss carryforwards	422	462
Reserves and accruals	908	823
Operating lease liabilities	3,419	3,721
Intangible assets	4,488	4,503
Stock options	746	696
Other	2,526	1,741
Total deferred tax assets	17,103	16,260
Property and equipment	(3,166)	(2,996)
Goodwill	(7,039)	(6,311)
Operating lease right-of-use assets	(3,152)	(3,472)
Foreign branch deferred offset	(593)	(700)
Other	(160)	(183)
Total deferred tax liabilities	(14,110)	(13,662)
Net deferred tax assets before valuation allowance	2,993	2,598
Valuation allowance	(1,653)	(1,702)
Net deferred tax liabiltity	1,340	896
Deferred tax assets	1,425	1,003
Long-term deferred tax liability	(85)	(107)
Net long-term deferred tax asset	$ 1,340	$ 896

Note 2 - Divestitures (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Costs	$ 0	$ 485	$ 3,107

Note 1 - Significant Accounting Policies and Related Matters - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net income	$ 44,038	$ 30,105	$ 20,636
Basic (in shares)	22,452,000	22,217,000	21,975,000
Basic (in dollars per share)	$ 1.96	$ 1.36	$ 0.94
Common stock equivalents, if dilutive (in shares)	327,000	206,000	196,000
Diluted (in shares)	22,779,000	22,423,000	22,171,000
Diluted (in dollars per share)	$ 1.93	$ 1.34	$ 0.93
Antidilutive securites (in shares)	1,453,445	294,580	293,053

- Definition

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

+ References

+ Details

- Definition

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.

+ References

+ Details

- Definition

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

+ References

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+ Details

Note 3 - Inventory and Other Deferred Costs

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Inventory and Other Deferred Costs Disclosure [Text Block]

3. Inventory and Other Deferred Costs

Inventory and other deferred costs consisted of the following:

	December 31, 2024		December 31, 2023
	(in thousands)
Raw materials	$	19,109	$	18,333
Work-in-process		2,157		2,869
Finished products		34,676		31,131
Other deferred costs		8,985		5,747

Total inventory and other deferred costs	$	64,927	$	58,080

The Company had inventory on consignment at customer sites of $1.8 million and $2.0 million at December 31, 2024 and 2023, respectively.

In connection with the Company’s 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 the Company preserves are not held as inventory, and the costs the Company incurs 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. The Company expenses general and administrative expenses and selling expenses associated with the provision of these services as incurred.

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,369	$ 941
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	3,000,000	3,000,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0	0
Common Stock, Par or Stated Value Per Share (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)	24,153,165	23,911,760
Treasury Stock, Common, Shares (in shares)	1,603,825	1,584,512

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income	$ 44,038	$ 30,105	$ 20,636
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,670	9,515	9,433
Stock-based compensation	6,568	5,319	4,173
Provision for inventory write-downs	3,092	2,237	2,572
Provision (benefit) for deferred income taxes	(451)	783	(182)
Loss on divestitures	0	485	1,954
Provision for credit losses	813	344	637
Fair value adjustments to contingent consideration obligations	134	(78)	(108)
Foreign currency transaction effect on income	362	(705)	(315)
Changes in operating assets and liabilities:
Accounts receivable	(6,418)	(3,135)	(3,533)
Inventory and other deferred costs	(10,574)	(9,794)	(7,418)
Prepaid expenses and other assets	(2,331)	(2,924)	(3,096)
Accounts payable and other liabilities	(779)	4,599	645
Net cash provided by operating activities	44,124	36,751	25,378
Investing activities
Purchases of short-term marketable securities	(277,938)	(16,551)	(8,000)
Purchases of property and equipment	(6,962)	(7,265)	(3,229)
Payments related to acquisitions	0	(899)	0
Proceeds from sale of building	0	0	858
Proceeds from sales of marketable securities	84,780	0	0
Net cash used in investing activities	(200,120)	(24,715)	(10,371)
Financing activities
Proceeds from issuance of convertible senior notes, net of issuance costs paid of $3,234	169,266	0	0
Costs paid related to issuance of convertible senior notes	(3,234)
Common stock cash dividend paid	(14,378)	(12,448)	(10,988)
Proceeds from issuance of common stock	6,440	6,170	3,466
Purchase of treasury stock for net settlement of equity awards	(1,719)	(853)	(642)
Payment of deferred acquisition consideration	0	0	(1,070)
Net cash provided by (used in) financing activities	158,102	(7,131)	(9,234)
Effect of exchange rate changes on cash and cash equivalents	(765)	230	(494)
Net increase in cash and cash equivalents	1,341	5,135	5,279
Cash and cash equivalents at beginning of year	24,269	19,134	13,855
Cash and cash equivalents at end of year	25,610	24,269	19,134
Convertible Senior Notes [Member]
Financing activities
Costs paid related to issuance of convertible senior notes	(1,507)	0	0
Building [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of building	0	0	(115)
PPE Excluding Building [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of building	$ 0	$ 0	$ 95

Note 7 - Accrued Expenses and Other Long-term Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	December 31, 2024		December 31, 2023
	(in thousands)
Compensation and related taxes	$	15,117	$	13,353
Accrued purchases		4,463		5,152
Accrued expenses		3,852		4,251
Income and other taxes		639		390
Accrued interest		144		-
Professional fees		86		104
Other		431		400

Total	$	24,732	$	23,650

Other Noncurrent Liabilities [Table Text Block]

	December 31, 2024		December 31, 2023
	(in thousands)
Acquisition-related liabilities	$	-	$	1,406
Income taxes		572		637
Other		259		225

Total	$	831	$	2,268

Note 10 - Stockholders' Equity - Summary of RSU Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Granted (in shares)	21,180
Granted, weighted average grant date fair value (in dollars per share)	$ 100.79
Vested (in shares)	(14,266)
Vested (in dollars per share)	$ 47.23
Canceled (in shares)	(1,148)
Canceled (in dollars per share)	$ 52.54
Outstanding (in shares)	59,930
Outstanding, weighted average grant date fair value (in dollars per share)	$ 69.15
Restricted Stock Units (RSUs) [Member]
Outstanding (in shares)	125,994	133,144	133,831
Outstanding, weighted average grant date fair value (in dollars per share)	$ 48.2	$ 42.38	$ 38.26
Granted (in shares)	33,851	48,225	51,031
Granted, weighted average grant date fair value (in dollars per share)	$ 100.37	$ 54.68	$ 47.11
Vested (in shares)	(49,521)	(49,400)	(45,489)
Vested (in dollars per share)	$ 46.49	$ 39.31	$ 35.75
Canceled (in shares)	(4,186)	(5,975)	(6,229)
Canceled (in dollars per share)	$ 49.51	$ 42.89	$ 40.79
Outstanding (in shares)	106,138	125,994	133,144
Outstanding, weighted average grant date fair value (in dollars per share)	$ 65.28	$ 48.2	$ 42.38

Note 10 - Stockholders' Equity

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Equity [Text Block]

10. Stockholders’ Equity

Authorized Shares

The Company’s second amended and restated certificate of incorporation, as amended (the “Certificate of Incorporation”), authorizes the issuance of up to 37,000,000 shares of common stock and up to 3,000,000 shares of undesignated preferred stock.

Under the terms of the Certificate of Incorporation, the Company’s board of directors is authorized to issue shares of the preferred stock in one or more series without stockholder approval. The Company’s board of directors has the discretion to determine the rights, preferences, privileges, and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges, and liquidation preferences, of each series of preferred stock. Currently, the Company has no shares of preferred stock outstanding.

Stock Award Plans

In May 2006 the Company approved the 2006 Stock Incentive Plan, which became effective upon the Company’s initial public offering, and which has been subsequently amended. The maximum number of shares of common stock reserved and available for issuance under the 2006 Stock Incentive Plan is the sum of (i) 6,500,000 shares, and (ii) such number of shares as equals that number of stock options or awards returned to the Company’s 1997 Stock Option Plan, 1998 Stock Option Plan, 2000 Stock Option Plan, and 2004 Stock Option Plan, each as amended and in effect from time to time (following the original effective date of the 2006 Stock Incentive Option and Incentive Plan), resulting from the expiration, cancellation, or termination of stock options or awards under those plans. The 2006 Stock Incentive Plan allows for the granting of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units (“RSUs”), performance-based RSUs (“PSUs”), unrestricted stock awards, and deferred stock awards to the Company’s officers, employees, directors, and consultants. Incentive stock options are required to be issued at not less than fair market value at the date of the grant and generally vest over four or five years. The Company’s board of directors determines the term of the options but in no event will exceed ten years from date of grant. In connection with the adoption of the 2006 Stock Incentive Plan, no further option grants were permitted under any previous stock option plans. The Company may satisfy awards upon exercise of stock options, RSUs, or PSUs with either newly issued shares or treasury shares.

A total of 8,118,003 shares are currently authorized for under the 2006 Stock Incentive Plan, of which 1,105,266 remain available for grant as of December 31, 2024.

The Company has computed the fair value of employee stock options granted each year using the following weighted average assumptions:

	2024			2023			2022
Dividend yield		0.63	%		1.02	%		1.06	%
Volatility		36.7	%		43.0	%		44.6	%
Risk-free interest rate		4.1	%		4.3	%		3.9	%
Weighted average expected option term (in years)		4.4			4.5			4.5
Weighted average fair value per share of options granted	$	34.99		$	20.75		$	18.10

A summary of option activity as of December 31, 2024, and for the three years then ended is presented below:

				Weighted		Weighted Average		Aggregate
	Number			Average		Remaining		Intrinsic
	of Shares			Exercise Price		Contractual Term		Value
						(in years)		(in thousands)

Balance outstanding at December 31, 2021		846,754		$	33.83		4.50	$	13,888

Granted		159,275		$	47.21
Exercised		(133,963	)	$	25.80			$	3,021
Canceled / Expired		(12,091	)	$	35.53
Balance outstanding at December 31, 2022		859,975		$	37.53		4.35	$	7,878

Granted		148,115		$	54.71
Exercised		(207,643	)	$	29.72			$	5,914
Canceled / Expired		(19,323	)	$	41.55
Balance outstanding at December 31, 2023		781,124		$	42.78		4.42	$	10,924

Granted		125,834		$	101.12
Exercised		(178,064	)	$	36.16			$	7,271
Canceled / Expired		(9,458	)	$	47.06
Balance outstanding at December 31, 2024		719,436		$	54.57		4.35	$	28,160

Exercisable at:
December 31, 2022		369,593		$	32.16		3.17	$	5,223
December 31, 2023		356,519		$	36.83		3.21	$	7,107
December 31, 2024		349,981		$	41.39		3.16	$	17,760

Expected to vest at:
December 31, 2022		490,382		$	41.59		5.23	$	2,655
December 31, 2023		424,605		$	47.78		5.43	$	3,817
December 31, 2024		369,455		$	67.05		5.46	$	10,400

Cash received from stock options exercised during the years ended December 31, 2024, 2023, and 2022, was $6.4 million, $6.2 million, and $3.5 million, respectively.

Restricted Stock Units and Performance-based Restricted Stock Units

The Company bases the fair value of RSU awards with time-based vesting on the intrinsic value of the awards at the date of grant.

The Company also issues PSUs, which are RSU awards with vesting based on performance conditions. PSUs awarded vest based on our achievement of operating income relative to the Company’s target operating income. The Company bases the fair values of PSUs on the intrinsic values of the awards at the date of grant.

A summary of the Company’s RSU activity (excluding PSUs) as of December 31, 2024, and for the three years then ended is presented below:

				Weighted
				Average
	Number			Grant Date
	of Shares			Fair Value

Balance outstanding at December 31, 2021		133,831		$	38.26

Granted		51,031		$	47.11
Vested		(45,489	)	$	35.75
Canceled		(6,229	)	$	40.79

Balance outstanding at December 31, 2022		133,144		$	42.38

Granted		48,225		$	54.68
Vested		(49,400	)	$	39.31
Canceled		(5,975	)	$	42.89

Balance outstanding at December 31, 2023		125,994		$	48.20

Granted		33,851		$	100.37
Vested		(49,521	)	$	46.49
Canceled		(4,186	)	$	49.51

Balance outstanding at December 31, 2024		106,138		$	65.28

The number of RSUs vested includes the shares that the Company withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. The fair values of the RSUs that vested during 2024, 2023, and 2022 were $4.9 million, $2.7 million, and $2.1 million, respectively.

The Company repurchases shares of its common stock in order to cover any minimum tax withholding liability associated with RSU vestings. A summary of such repurchases is as follows:

	2024		2023		2022

Shares of common stock repurchased for net settlement of equity awards		17,272		15,917		13,690
Average per share repurchase price	$	91.25	$	53.59	$	46.90
Aggregate purchase price (in thousands)	$	1,576	$	853	$	642

A summary of the Company’s PSU activity as of December 31, 2024, and for the three years then ended is presented below:

				Weighted
				Average
	Number			Grant Date
	of Shares			Fair Value

Balance outstanding at December 31, 2021		31,181		$	48.60

Granted		28,830		$	47.13
Vested		-		$	-
Canceled		(31,538	)	$	48.53

Balance outstanding at December 31, 2022		28,473		$	47.19

Granted		26,883		$	54.65
Vested		-		$	-
Canceled		(1,192	)	$	47.19

Balance outstanding at December 31, 2023		54,164		$	50.85

Granted		21,180		$	100.79
Vested		(14,266	)	$	47.23
Canceled		(1,148	)	$	52.54

Balance outstanding at December 31, 2024		59,930		$	69.15

The number of PSUs vested includes the shares that the Company withheld on behalf of employees to satisfy minimum statutory tax withholding requirements. The fair values of the PSUs that vested during 2024 were $1.2 million.

The Company repurchases shares of its common stock in order to cover any minimum tax withholding liability associated with PSU vestings. There were no repurchases of PSUs prior to 2024. A summary of such repurchases in 2024 is as follows:

	2024

Shares of common stock repurchased for net settlement of equity awards		2,041
Average per share repurchase price	$	70.55
Aggregate purchase price (in thousands)	$	144

Stock-based Compensation

The components of stock-based compensation expense included in the consolidated statements of operations were as follows:

	2024		2023		2022
			(in thousands)
Stock option awards	$	2,996	$	2,705	$	2,487
Restricted stock units		2,307		1,951		1,654
Performance-based restricted stock units		1,265		663		32

Total stock-based compensation	$	6,568	$	5,319	$	4,173

Stock-based compensation is included in our statements of operations as follows:

	2024		2023		2022
			(in thousands)
Cost of sales	$	927	$	686	$	494
Sales and marketing		1,104		966		771
General and administrative		3,866		3,143		2,500
Research and development		671		524		408

Total stock-based compensation	$	6,568	$	5,319	$	4,173

The Company expects to record the unamortized portion of share-based compensation expense of $18.3 million for existing stock options, RSUs, and PSUs outstanding as of December 31, 2024, over a weighted-average period of 2.0 years.

Stock Repurchase Plans

On February 18, 2025, the Company’s board of directors authorized the repurchase of up to $75.0 million of the Company’s common stock through transactions on the open market, in privately negotiated purchases or otherwise until February 17, 2026. The repurchase program may be suspended or discontinued at any time. To date the Company has not made any repurchases under this program.

Dividends

In February 2011, the Company’s board of directors approved a policy for the payment of quarterly cash dividends on its common stock. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the 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
November 21, 2024	December 5, 2024	$	0.16	$	3,600

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 February 18, 2025, the Company’s board of directors approved a quarterly cash dividend on its common stock of $0.20 per share payable on March 27, 2025, to stockholders of record at the close of business on March 13, 2025, which will total approximately $4.5 million.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 6 - Convertible Senior Notes (Details Textual) $ / shares in Units, $ in Thousands		12 Months Ended
	Dec. 19, 2024 USD ($) $ / shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Proceeds from Notes Payable		$ 169,266	$ 0	$ 0
Payments of Debt Issuance Costs		3,234
Convertible Senior Notes [Member]
Payments of Debt Issuance Costs		1,507	$ (0)	$ (0)
Debt Instrument, Unamortized Discount		4,728
Convertible Senior Notes [Member] \| U S Bank Trust Company, National Association [Member]
Debt Instrument, Face Amount	$ 172,500
Proceeds from Notes Payable	167,700
Payments of Debt Issuance Costs	$ 4,800
Debt Instrument, Interest Rate, Stated Percentage	2.50%
Debt Instrument, Convertible, Conversion Ratio	8.3521
Debt Instrument, Convertible, Conversion Price (in dollars per share) \| $ / shares	$ 119.73
Debt Instrument, Unamortized Discount	$ 4,800
Interest Expense, Debt		$ 200
Debt Instrument, Interest Rate, Effective Percentage		3.10%
Long-Term Debt, Fair Value		$ 178,600

Note 13 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Dec. 31, 2020	Dec. 31, 2019	Oct. 11, 2019
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 134	$ (78)	$ (108)
Artegraft Inc [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		17,500
Business Combination, Contingent Consideration, Liability					$ 400
CardioCel and VascuCel Biologic Patches [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High						$ 7,800
CardioCel and VascuCel Biologic Patches [Member] \| Fair Value, Inputs, Level 3 [Member]
Business Combination, Contingent Consideration, Liability							$ 2,300
CardioCel and VascuCel Biologic Patches [Member] \| Third Holdback [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High				$ 2,000		2,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ 0
CardioCel and VascuCel Biologic Patches [Member] \| Audited Carve-Out Financial Statements of the Acquired Business [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High						300
CardioCel and VascuCel Biologic Patches [Member] \| 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						500
CardioCel and VascuCel Biologic Patches [Member] \| Achievement of Specified Levels of Revenues [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High						$ 5,000

Note 6 - Convertible Senior Notes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Long-Term Debt Instruments [Table Text Block]

	As of December 31,
	2024
	(in thousands)
Principal amount of convertible senior notes	$	172,500
Less: Current portion of convertible senior notes		-
Convertible senior notes, net of current portion		172,500
Debt discount, net of accretion		(4,728	)

Convertible senior notes, net of discount and current portion	$	167,772

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Note 11 - Profit-sharing Plan (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution, Plan Employers Matching Contribution, Annual Vesting Period	6 years
Deferred Profit Sharing [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0.8	$ 0.8	$ 0.6

Note 10 - Stockholders' Equity - Summary of PBS Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Granted (in shares)	21,180
Granted, weighted average grant date fair value (in dollars per share)	$ 100.79
Vested (in shares)	(14,266)
Vested (in dollars per share)	$ 47.23
Canceled (in shares)	(1,148)
Canceled (in dollars per share)	$ 52.54
Outstanding (in shares)	59,930
Outstanding, weighted average grant date fair value (in dollars per share)	$ 69.15
Performance Shares [Member]
Outstanding (in shares)	54,164	28,473	31,181
Outstanding, weighted average grant date fair value (in dollars per share)	$ 50.85	$ 47.19	$ 48.6
Granted (in shares)		26,883	28,830
Granted, weighted average grant date fair value (in dollars per share)		$ 54.65	$ 47.13
Vested (in shares)		0	0
Vested (in dollars per share)		$ 0	$ 0
Canceled (in shares)		(1,192)	(31,538)
Canceled (in dollars per share)		$ 47.19	$ 48.53
Outstanding (in shares)		54,164	28,473
Outstanding, weighted average grant date fair value (in dollars per share)		$ 50.85	$ 47.19

Note 3 - Inventory and Other Deferred Costs (Details Textual) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	$ 1.8	$ 2.0

Note 9 - Income Taxes - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for income taxes, net	$ 12,837	$ 7,549	$ 8,343

Note 8 - Commitments and Contingencies - Additional Lease information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)
Lease cost
Operating lease cost \| $	$ 2,895	$ 2,420
Short-term lease cost \| $	80	378
Total lease cost \| $	2,975	2,798
Cash paid for amounts included in the measurement of operating lease liabilities \| $	3,991	3,139
Right-of-use assets obtained in exchange for new operating lease liabilities \| $	$ 1,637	$ 4,813
Weighted average remaining lease term - operating leases (in years) (Year)	6 years 6 months	7 years 3 months 18 days
Weighted average discount rate - operating leases	6.63%	6.57%
Principal Worldwide Executive, Distribution, and Manufacturing Operations Facilities [Member] \| Americas [Member]
Lease cost
Area of Real Estate Property (Square Foot)	96,476
North Brunswick, New Jersey [Member] \| Americas [Member]
Lease cost
Area of Real Estate Property (Square Foot)	16,732
Burlington Massachusetts [Member] \| Americas [Member]
Lease cost
Area of Real Estate Property (Square Foot)	12,878
Fox River Grove, IL [Member] \| Americas [Member]
Lease cost
Area of Real Estate Property (Square Foot)	9,754
Vaughn, Canada Lease [Member] \| Americas [Member]
Lease cost
Area of Real Estate Property (Square Foot)	3,192
Sulzbach, Germany [Member] \| EMEA [Member]
Lease cost
Area of Real Estate Property (Square Foot)	21,410
Milan, Italy Lease [Member] \| EMEA [Member]
Lease cost
Area of Real Estate Property (Square Foot)	5,705
Hereford, England [Member] \| EMEA [Member]
Lease cost
Area of Real Estate Property (Square Foot)	3,575
Maisons-Alfort, France [Member] \| EMEA [Member]
Lease cost
Area of Real Estate Property (Square Foot)	3,492
Zurich, Switzerland [Member] \| EMEA [Member]
Lease cost
Area of Real Estate Property (Square Foot)	2,935
Madrid, Spain Lease [Member] \| EMEA [Member]
Lease cost
Area of Real Estate Property (Square Foot)	2,260
Tokyo, Japan Lease [Member] \| Asia Pacific [Member]
Lease cost
Area of Real Estate Property (Square Foot)	4,236
Shanghai, China Lease [Member] \| Asia Pacific [Member]
Lease cost
Area of Real Estate Property (Square Foot)	3,432
Bangkok, Thailand Lease [Member] \| Asia Pacific [Member]
Lease cost
Area of Real Estate Property (Square Foot)	2,810
Kensington, Australia [Member] \| Asia Pacific [Member]
Lease cost
Area of Real Estate Property (Square Foot)	2,551
Seoul, Korea Lease [Member] \| Asia Pacific [Member]
Lease cost
Area of Real Estate Property (Square Foot)	2,300
Singapore Lease [Member] \| Asia Pacific [Member]
Lease cost
Area of Real Estate Property (Square Foot)	1,270
Shanghai, China Lease 2 [Member] \| Asia Pacific [Member]
Lease cost
Area of Real Estate Property (Square Foot)	1,152

Note 5 - Goodwill and Other Intangibles - Amortization Expense Included in General and Administrative Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amortization expense	$ 5,785	$ 6,092	$ 6,183

Note 7 - Accrued Expenses and Other Long-term Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Acquisition-related liabilities	$ 0	$ 1,406
Income taxes	572	637
Other	259	225
Total	$ 831	$ 2,268

Note 1 - Significant Accounting Policies and Related Matters

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Significant Accounting Policies [Text Block]

1. Significant Accounting Policies and Related Matters

Description of Business

Unless the context requires otherwise, references to LeMaitre, LeMaitre Vascular, and the Company refer to LeMaitre Vascular, Inc. and its subsidiaries. The Company develops, manufactures, and markets medical devices and implants used primarily in the field of vascular surgery. The Company also derives revenues from the processing and cryopreservation of human tissues for implantation in patients. The Company operates in a single segment in which its 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. The Company’s 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.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation.

Foreign Currency Translation

Balance sheet accounts of foreign subsidiaries are translated into U.S. dollars at year-end exchange rates. Operating accounts are translated at average exchange rates for each year. Net translation gains or losses are adjusted directly to a separate component of other comprehensive income (loss) within stockholders’ equity. Foreign exchange transaction gains (losses), substantially all of which relate to intercompany activity between the Company and its foreign subsidiaries, are included in other income (expense) in the accompanying consolidated statements of operations.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Company’s 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. The Company’s estimates and assumptions, including those related to credit losses, inventories, intangible assets, sales returns and discounts, share-based compensation, and income taxes, are reviewed on an ongoing basis and updated as appropriate. Actual results could differ from those estimates.

Revenue Recognition

The Company’s revenue is derived primarily from the sale of disposable or implantable devices used during vascular surgery. The Company sells primarily directly to hospitals and to a lesser extent to international distributors, as described below, and during the periods presented in its consolidated financial statements, entered into consigned inventory arrangements with either hospitals or distributors on a limited basis. The Company also derives 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.

The Company records 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 or as a company satisfies a performance obligation by transferring a 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), the Company made the policy election allowed under Topic 606 to account for these activities as fulfillment costs and not as performance obligations.

The Company generally references 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. The Company allocates 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 the Company’s published price lists. In cases where the Company discounts products or provides certain items free of charge, the Company allocates the discount proportionately to all performance obligations, unless the Company can demonstrate that the discount should be allocated entirely to one or more, but not all, of the performance obligations.

The Company records 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 the Company has 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 the Company’s customers and the Company has a present right to receive payment for the goods.

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

	Year ended December 31,
	2024		2023		2022
Americas	$	144,583	$	130,308	$	109,439
Europe, Middle East and Africa		59,969		51,099		41,854
Asia Pacific		15,311		12,077		10,358
Total	$	219,863	$	193,484	$	161,651

The Company does not carry any contract assets or contract liabilities, as there are generally no unbilled amounts due from customers under contracts for which the Company has partially satisfied performance obligations, or amounts received from customers for which the Company has not satisfied performance obligations. The Company satisfies its 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, but less than 12 months. Accordingly, there is no significant financing component to the Company’s revenue contracts. Additionally, the Company has 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 12 months for the Company’s 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 the Company, either for exchange or credit, has not been material. Nevertheless, the Company provides for an allowance for future sales returns based on the percentage of 12 months historical returns applied against the Company’s recognized period sales, which requires judgment. The Company’s cost of replacing defective products has not been material and is accounted for at the time of replacement.

Research and Development Expense

The Company expenses research and development costs, principally compensation and related expenses, outside services, professional fees, testing, and supplies, as incurred.

Shipping and Handling Costs

The Company records shipping and handling fees paid by customers within net sales, with the related expense recorded in cost of sales as incurred.

Advertising Costs

The Company expenses advertising costs as incurred and includes them as a component of sales and marketing expense in the accompanying consolidated statements of operations. Advertising costs are as follows:

	Year ended December 31,
	2024		2023		2022
			(in thousands)

Advertising expense	$	330	$	240	$	195

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with maturity dates of 90 days or less to be cash equivalents. Cash and cash equivalents are primarily invested in money market funds. These amounts are stated at cost, which approximates fair value.

Short-term Marketable Securities

The Company’s short-term marketable securities are available-for-sale securities carried at fair value, with unrealized gains and losses recorded in other comprehensive income. The Company’s short-term marketable securities consist of a U.S. government money market fund investing mainly in high-quality, short-term securities that are issued or guaranteed by the U.S. government or by U.S. government agencies and instrumentalities, and a short-duration bond fund.

Concentrations of Credit Risk

The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash equivalents represent highly liquid investments with maturities of 90 days or less at the date of purchase. Credit risk related to cash and cash equivalents are limited based on the creditworthiness of the financial institutions at which these funds are held. The Company maintains cash balances in several banks. Accounts located in the United States are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. Certain account balances exceed the FDIC limit. Cash balances held outside the United States totaled approximately $10.9 million as of December 31, 2024.

Accounts Receivable and Allowance for Credit Losses

The Company’s accounts receivable are with customers based in the United States and internationally. Accounts receivable generally are due within 30 to 60 days of invoice and are stated at amounts due from customers, net of an allowance for credit losses and sales returns, other than in certain European markets where the payment cycle is customarily longer. Opening balance accounts receivable at January 1, 2023 was $22.0 million. The Company performs ongoing credit evaluations of the financial condition of its customers and adjusts credit limits based upon payment history and the current creditworthiness of the customers, as determined by a review of their current credit information. The Company continuously monitors aging reports, collections, and payments from customers, and maintains a provision for estimated credit losses based upon historical experience and any specific customer collection issues the Company identifies.

The Company closely monitors outstanding receivables for potential collection risks, including those that may arise from economic conditions, in both the United States and international economies. The Company’s European sales to government-owned or supported customers such as hospitals, distributors and agents, particularly in Italy, Spain, and France, may be subject to significant payment delays due to government austerity measures impacting funding and payment practices. As of December 31, 2024, the Company’s receivables in Italy, Spain, and France totaled $1.1 million, $0.9 million and $1.8 million, respectively. Receivables balances with certain government-owned hospitals and government-supported customers in these countries can accumulate over a period of time and then subsequently be settled as lump sum payments. While the Company believes its allowance for credit losses in these countries is adequate as of December 31, 2024, if significant changes were to occur in the payment practices of these European governments or if government funding becomes unavailable, the Company may not be able to collect on receivables due to it from these customers and the Company’s write offs of uncollectible amounts may increase.

The Company writes off accounts receivable when they become uncollectible. Such credit losses have historically been within the Company’s expectations and allowances. The allowance for credit losses is the Company’s best estimate of the amount of probable credit losses in its existing accounts receivable. The Company reviews its allowance for credit losses on a monthly basis and examines all past due balances individually for collectability. The Company records the provision for the allowance for credit losses in general and administrative expenses. The following is a summary of the Company’s allowance for credit losses and sales returns:

	Balance at		Additions		Deductions		Balance at
	Beginning		charged		from		End of
	of Period		to Income		Reserves		Period
	(in thousands)
Allowance for credit losses and sales returns:
Year ended December 31, 2024	$	941	$	813	$	385	$	1,369
Year ended December 31, 2023	$	835	$	344	$	238	$	941
Year ended December 31, 2022	$	679	$	637	$	481	$	835

Concentration of Customers

For the years ended December 31, 2024, 2023 and 2022 no single customer accounted for more than 2% of the Company’s net sales.

Fair Value of Financial Instruments

The Company’s financial instruments include cash and cash equivalents, short-term marketable securities, accounts receivable, and trade payables. The fair value of these instruments approximates their carrying value based upon their short-term nature or variable rates of interest. The Company records unrealized gains and losses on its short-term marketable securities in other comprehensive income. As of December 31, 2024 and 2023, the Company’s short-term marketable securities reflected an unrealized loss of $1.0 million and $1.2 million, respectively, as a result of increasing market interest rates.

Inventory and Other Deferred Costs

Inventory and other deferred costs consists of finished products, work-in-process, raw materials and costs deferred in connection with human tissue cryopreservation services of the Company’s RestoreFlow allograft business. The Company values inventory and other deferred costs at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) and net realizable value. Inventory costs include direct materials, direct labor, and manufacturing overhead. On a quarterly basis, the Company reviews inventory quantities on hand and analyzes the provision for excess and obsolete inventory based primarily on product expiration dating and the Company’s estimated sales forecast, which is based on sales history and anticipated future demand. The Company’s estimates of future product demand may not be accurate, and the Company may understate or overstate the provision required for excess and obsolete inventory. Accordingly, any significant unanticipated changes in demand could have a significant impact on the value of the Company’s inventory and results of operations.

Cloud Computing Arrangements

The Company capitalizes qualifying set-up and implementation costs related to the Company’s cloud computing arrangements. The deferred costs are amortized over the term of the associated cloud computing arrangement on a straight-line basis which is representative of the pattern in which the Company expects to benefit from access to the cloud computing arrangement.

The Company includes capitalized cloud computing implementation costs in prepaid expenses and other current assets and other assets on the consolidated balance sheet. The following is a summary of the Company’s capitalized cloud computing arrangements:

	As of December 31,
	2024			2023
	(in thousands)
Gross cloud computing arrangements	$	5,121		$	3,619
Less accumulated amortization		(374	)		-

Cloud computing arrangements, net	$	4,747		$	3,619

Property and Equipment

The Company states property and equipment at cost, net of accumulated depreciation. The Company computes depreciation over the estimated useful lives of the related assets using straight-line method as follows:

Description	Useful Life (in years)
Computer hardware	3	–	5
Machinery and equipment	3	–	10
Building and leasehold improvements	The shorter of its useful life or remaining lease term

When assets are retired or disposed, the Company eliminates the asset’s original cost and related accumulated depreciation from the accounts and any gain or loss is reflected in the statement of operations. The Company charges maintenance and repairs to operations as incurred.

Valuation of Business Combinations

The Company assigns the value of the consideration transferred to acquire a business to the tangible assets and identifiable intangible assets acquired and liabilities assumed on the basis of their fair values at the date of acquisition. The Company assesses the fair value of assets, including intangible assets, using a variety of methods. The Company typically engages an independent appraiser to perform the assessment, so as to measure fair value from the perspective of a market participant.

The Company has accounted for acquisitions using the acquisition method, and the acquired companies’ results have been included in the accompanying consolidated financial statements from their respective dates of acquisition. The Company has recorded acquisition transaction costs in general and administrative expenses and expensed such costs as incurred. The Company bases allocation of the purchase price for acquisitions on estimates of the fair value of the net assets acquired, subject to adjustment upon finalization of the purchase price allocation.

The Company’s acquisitions have historically been made at prices above the fair value of the acquired assets, resulting in goodwill due to expectations of synergies of combining the businesses. These synergies include use of the Company’s existing commercial infrastructure to expand sales of the acquired businesses’ products, use of the commercial infrastructure of the acquired businesses to cost-effectively expand sales of the Company’s products, and the elimination of redundant facilities, functions, and staffing.

Contingent Consideration

The Company recognizes contingent consideration for acquisitions at the date of acquisition, based on the fair value at that date, and then re-measures periodically, which may result in adjustments to net income.

Impairment of Long-lived Assets

The Company reviews its long-lived assets (primarily property and equipment, intangible assets, and right-of-use assets) subject to amortization quarterly to determine if any adverse conditions exist or a change in circumstances has occurred that would indicate impairment or a change in the remaining useful life. Conditions that may indicate impairment include, but are not limited to, a significant adverse change in legal factors or business climate that could affect the value of an asset, a product recall, or an adverse action or assessment by a regulator. If an impairment indicator exists, the Company tests the intangible asset for recoverability. The Company records impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The Company measures impairment based on the fair market value of the affected asset using discounted cash flows.

Goodwill

Goodwill represents the amount of consideration paid in connection with business acquisitions in excess of the fair value of assets acquired and liabilities assumed. The Company evaluates goodwill for impairment annually, or more frequently if indicators of impairment are present or changes in circumstances suggest that an impairment may exist. The Company evaluates the December 31 balance of the carrying value of goodwill based on a single reporting unit annually. The Company performs an assessment of qualitative factors to determine if it is “more likely than not” that the fair value of the Company’s reporting unit is less than its carrying value as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test. The “more likely than not” threshold is defined as having a likelihood of more than 50 percent. The quantitative goodwill impairment test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The Company has determined that no goodwill impairment charges were required for the years ended December 31, 2024, 2023, or 2022.

Intangible Assets

Intangible assets consist primarily of patents, trademarks, technology licenses, and customer relationships acquired in connection with business acquisitions and asset acquisitions. The Company amortizes intangible assets over their estimated useful lives, ranging from 2 to 16 years.

Stock-based Compensation

The Company recognizes as expense the estimated fair value of stock options to employees determined using the Black-Scholes option pricing model. The Company records share-based compensation charges across the consolidated statement of operations based upon the grantee’s primary function. The Company has elected to recognize the compensation cost of all share-based awards on a straight-line basis over the vesting period of the award. Reversal of expense for forfeited awards due to the termination of an employee are recognized in the period of termination. In periods that the Company grants stock options, fair value assumptions are based on volatility, interest, dividend yield, and expected term over which the stock options will be outstanding. The computation of expected volatility is based on the historical volatility of the Company’s stock. The Company bases the interest rate for periods within the contractual life of the award on the U.S. Treasury risk-free interest rate in effect at the time of grant. Historical data on exercise patterns is the basis for estimating the expected life of an option. The Company calculates the expected annual dividend rate by dividing the Company’s annual dividend, based on the most recent quarterly dividend rate, by the closing price of the Common Stock on the grant date.

The Company also issues restricted stock units (RSUs) and performance-based restricted stock units (PSUs) as additional forms of equity compensation to its employees, officers, and directors, pursuant to its stockholder-approved 2006 Stock Option and Incentive Plan (as subsequently amended and restated, the “2006 Stock Incentive Plan”). RSUs entitle the grantee to an issuance of stock at no cost to the grantee and generally vest over a period of time determined by the Company’s Board of Directors at the time of grant. PSUs granted are based on achievement of the Company’s operating income compared to budgeted operating income as approved by the Company’s Board of Directors. The Company determines the fair market value of the award based on the number of RSUs and PSUs granted and the market value of the Company’s common stock on the grant date. The Company amortizes the fair market value of the award to expense over the period of vesting. Unvested RSUs and PSUs are forfeited and canceled as of the date that employment or service to the Company terminates. RSUs and PSUs are settled in shares of the Company’s common stock upon vesting. The Company typically repurchases common stock upon its employees’ vesting in RSUs and PSUs in order to cover any minimum tax withholding liability as a result of the awards having vested.

Leases

The Company determines if an arrangement is or contains a lease at contract inception by assessing whether the arrangement contains an identified asset and whether the lessee has the right to control such asset. The Company is required to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification.

The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight-line basis over the term of the lease. The Company determines the initial classification and measurement of its right-of-use assets and lease liabilities at the lease commencement date and thereafter, if modified.

For its operating leases with a lease term of 12 months or greater, the Company recognized a right-of-use asset and a lease liability on its consolidated balance sheets. The lease liability is determined as the present value of future lease payments using an estimated rate of interest that the Company would have to pay to borrow equivalent funds on a collateralized basis at the lease commencement date. The right-of-use asset is based on the liability adjusted for any prepaid or deferred rent. The lease term at the commencement date is determined by considering whether renewal options and termination options are reasonably assured of exercise.

Operating lease cost for the operating lease is recognized on a straight-line basis over the lease term and is included in operating expenses on the consolidated statements of operations. The Company elected the practical expedients to exclude from its balance sheets recognition of leases having a term of 12 months or less (short-term leases).

Commitments and Contingencies

In the normal course of business, the Company is subject to proceedings, lawsuits, and other claims and assessments for matters related to, among other things, patent infringement, business acquisitions, employment, commercial matters and product recalls. The Company assesses the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. The Company makes a determination of the amount of reserves required, if any, for these contingencies after careful analysis of each individual issue. The required reserves may change in the future due to new developments or changes in approach, such as a change in settlement strategy in dealing with each matter. The Company records charges for anticipated losses in connection with litigation and claims against it when the Company concludes a loss is probable and can be reasonably estimated. The Company expenses legal costs associated with loss contingencies as incurred. During the years ended December 31, 2024, 2023, and 2022, the Company was not subject to any material litigation or claims and assessments.

Sales of medical devices outside the U.S. are subject to international regulatory requirements that vary from country to country. These requirements and the amount of time required for approval may differ from the Company’s experiences with the U.S. Food and Drug Administration (“FDA”). In the European Union (“EU”), the Company is required to obtain Conformité Européenne (“CE”) marks for its products, which denote conformity to essential requirements for manufacturers of higher-risk devices. Failure to obtain, retain or maintain these CE marks would impact the Company’s ability to sell our products in certain EU countries and could cause our business to suffer.

Income Taxes

The Company accounts for income taxes under the asset and liability method of accounting for income taxes. Under the asset and liability method, the Company determines deferred taxes based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. The provision for income taxes includes taxes currently payable and deferred taxes resulting from the tax effects of temporary differences between the financial statement and tax bases of assets and liabilities. The Company maintains valuation allowances where it is more likely than not that all or a portion of a deferred tax asset will not be realized. The Company includes changes in the valuation allowances in the Company’s tax provision in the period of change. In determining whether a valuation allowance is warranted, the Company evaluates factors such as prior earnings history, expected future earnings, carry-back and carry-forward periods, and tax strategies that could potentially enhance the likelihood of the realization of a deferred tax asset.

The Company recognizes, measures, presents, and discloses in its financial statements, uncertain tax positions that it has taken or expects to take on a tax return. The Company recognizes in its financial statements the impact of tax positions that meet a “more likely than not” threshold, based on the technical merits of the position. The Company measures the tax benefits recognized in the financial statements from such a position based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement.

The Company’s policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense.

Comprehensive Income (Loss)

Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Other than reported net income, comprehensive income includes foreign currency translation adjustments and unrealized gains and losses on the Company’s marketable securities, which are disclosed in the accompanying consolidated statements of comprehensive income. There were no reclassifications out of comprehensive income for the years ended December 31, 2024, 2023, or 2022.

Restructuring

The Company records restructuring charges incurred in connection with consolidation or relocation of operations, exited business lines, reductions in force, or distributor terminations. The Company bases these restructuring charges, which reflect the Company’s commitment to a termination or exit plan, on estimates of the expected costs associated with site closure, legal matters, contract terminations, severance payments, or other costs directly related to the restructuring. If the actual cost incurred exceeds the estimated cost, an additional charge to earnings will result. If the actual cost is less than the estimated cost, the Company will recognize a credit to earnings.

Net Income Per Share

The Company computes basic net income per common share by dividing the net income by the weighted average number of shares of common stock outstanding for the period. Diluted net income per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period, including potential dilutive common shares assuming the dilutive effect of outstanding stock awards, using the treasury stock method, and outstanding convertible notes, using the if-converted method.

The Company has excluded potential dilutive securities from the computation of diluted net loss per share that would be anti-dilutive to net income per share. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net income per share attributable to common stockholders for the periods indicated above because including them would have had an anti-dilutive effect:

	Year ended December 31,
	2024		2023		2022

Options to purchase common stock		8,939		294,580		291,753
Restricted stock units		3,769		-		1,300
Convertible senior notes		1,440,737		-		-
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive		1,453,445		294,580		293,053

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

	Year ended December 31,
	2024		2023		2022
	(in thousands, except per share data)
Basic:
Net income available for common stockholders	$	44,038	$	30,105	$	20,636
Weighted average shares outstanding		22,452		22,217		21,975
Basic earnings per share	$	1.96	$	1.36	$	0.94

Diluted:
Net income available for common stockholders	$	44,038	$	30,105	$	20,636
Weighted-average shares outstanding		22,452		22,217		21,975
Common stock equivalents, if dilutive		327		206		196
Shares used in computing diluted earnings per common share		22,779		22,423		22,171

Diluted earnings per share	$	1.93	$	1.34	$	0.93

Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive		1,453		295		293

Convertible Debt

The Company applies the provisions of ASU 2020-06, which simplify the accounting related to convertible debt instruments by removing major separation models required under current GAAP. Accordingly, the Company does not bifurcate the liability and equity components of the convertible debt on its consolidated balance sheets. The Company’s convertible debt is reflected as a liability on the Company’s consolidated balance sheets, with the initial carrying amount equal to the principal amount of the debt, net of issuance costs. The issuance costs are treated as a debt discount for accounting purposes, which will be amortized into interest expense over the term of the instruments utilizing the effective interest method. The Company accounts for its convertible debt as a single liability with no separate accounting for embedded conversion features.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires all public entities, including public entities with a single reportable segment, to provide in interim and annual periods one or more measures of segment profit or loss used by the chief operating decision maker to allocate resources and assess performance. Additionally, the standard requires disclosures of significant segment expenses and other segment items as well as incremental qualitative disclosures.

The Company adopted ASU 2023-07 effective December 31, 2024, on a retrospective basis. The adoption of 2023-07 did not change the way that the Company identifies its reportable segments and, as a result, did not have a material impact on the Company’s segment-related disclosures. Refer to Note 12 for further information on the Company’s reportable segment.

Recently Issued Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires enhanced income tax disclosures, including specific categories and disaggregation of information in the effective tax rate reconciliation, disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently in the process of evaluating the impact of this pronouncement on its related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03), which requires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the impact of this pronouncement on its related disclosures.

In November 2024, the FASB issued ASU 2024-04, Induced Conversions of Convertible Debt Instruments. The new guidance clarifies the assessment of whether a transaction should be accounted for as an induced conversion or extinguishment of convertible debt when changes are made to conversion features as part of an offer to settle the instrument. The guidance is effective for fiscal years beginning after December 15, 2025, with early adoption permitted, and it can be adopted either on a prospective or retrospective basis. The Company is currently in the process of evaluating the impact of this pronouncement on its related disclosures.

Note 8 - Commitments and Contingencies - Minimum Rental Commitments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 3,775
2026	3,204
2027	2,731
2028	2,608
2029	2,555
Thereafter	8,524
Adjustment to net present value as of December 31, 2022	(5,484)
Minimum noncancelable lease liability	$ 17,913

Note 11 - Profit-sharing Plan

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

11. Profit-Sharing Plan

The Company offers a 401(k) profit-sharing plan (the “401(k) Plan”) covering eligible U.S. employees to make tax-deferred contributions, a portion of which are matched by the Company. The Company may also make discretionary profit sharing contributions to the 401(k) Plan in an amount determined by its board of directors. The Company’s contributions vest ratably over six years of employment and amounted to approximately $0.8 million, $0.8 million, and $0.6 million for 2024, 2023, and 2022, respectively.

Consolidated Statements of Stockholders' Equity - 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] Restricted Stock Units (RSUs) [Member]	Additional Paid-in Capital [Member] Performance-based Restricted Units [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Restricted Stock Units (RSUs) [Member]	Performance-based Restricted Units [Member]	Total
Balance (in shares) at Dec. 31, 2021			23,477,784						1,554,905
Balance at Dec. 31, 2021			$ 235			$ 181,630	$ 88,125	$ (3,435)	$ (12,404)			$ 254,151
Net income							20,636					20,636
Other comprehensive income (loss)								(2,596)				$ (2,596)
Issuance of common stock for stock options exercised (in shares)			133,963									133,963
Issuance of common stock for stock options exercised			$ 1			3,465						$ 3,466
Vested restricted stock units (in shares)	43,969
Vested restricted stock units	$ 1			$ 0						$ 1
Repurchase of common stock for net settlement of equity awards (in shares)									13,690
Repurchase of common stock for net settlement of equity awards									$ (642)			(642)
Stock-based compensation expense						4,173						4,173
Common stock cash dividend paid							(10,988)					(10,988)
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							30,105					30,105
Other comprehensive income (loss)								1,406				$ 1,406
Issuance of common stock for stock options exercised (in shares)			207,643									207,643
Issuance of common stock for stock options exercised			$ 2			6,168						$ 6,170
Vested restricted stock units (in shares)	48,401
Vested restricted stock units	$ 0			0						0
Repurchase of common stock for net settlement of equity awards (in shares)									15,917
Repurchase of common stock for net settlement of equity awards									$ (853)			(853)
Stock-based compensation expense						5,319						5,319
Common stock cash dividend paid							(12,448)					(12,448)
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							44,038					44,038
Other comprehensive income (loss)								(1,559)				$ (1,559)
Issuance of common stock for stock options exercised (in shares)			178,064									178,064
Issuance of common stock for stock options exercised			$ 2			6,437						$ 6,439
Vested restricted stock units (in shares)	56,201	7,140
Vested restricted stock units	$ 1	$ 0		$ 0	$ 0					$ 1	$ 0
Repurchase of common stock for net settlement of equity awards (in shares)									19,313
Repurchase of common stock for net settlement of equity awards									$ (1,719)			(1,719)
Stock-based compensation expense						6,568						6,568
Common stock cash dividend paid							(14,378)					(14,378)
Balance (in shares) at Dec. 31, 2024			24,153,165						1,603,825
Balance at Dec. 31, 2024			$ 242			$ 213,760	$ 145,090	$ (6,184)	$ (15,618)			$ 337,290

Note 12 - Segment and Geographic Information (Details Textual)	12 Months Ended
	Dec. 31, 2024
Number of Operating Segments	1

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Description of Business

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Revenue from Contract with Customer [Policy Text Block]

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

	Year ended December 31,
	2024		2023		2022
Americas	$	144,583	$	130,308	$	109,439
Europe, Middle East and Africa		59,969		51,099		41,854
Asia Pacific		15,311		12,077		10,358
Total	$	219,863	$	193,484	$	161,651

Research and Development Expense, Policy [Policy Text Block]

Research and Development Expense

The Company expenses research and development costs, principally compensation and related expenses, outside services, professional fees, testing, and supplies, as incurred.

Shipping and Handling [Policy Text Block]

Shipping and Handling Costs

The Company records shipping and handling fees paid by customers within net sales, with the related expense recorded in cost of sales as incurred.

Advertising Cost [Policy Text Block]

Advertising Costs

	Year ended December 31,
	2024		2023		2022
			(in thousands)

Advertising expense	$	330	$	240	$	195

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Marketable Securities, Policy [Policy Text Block]

Short-term Marketable Securities

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk

Accounts Receivable and Allowance for Credit Losses

	Balance at		Additions		Deductions		Balance at
	Beginning		charged		from		End of
	of Period		to Income		Reserves		Period
	(in thousands)
Allowance for credit losses and sales returns:
Year ended December 31, 2024	$	941	$	813	$	385	$	1,369
Year ended December 31, 2023	$	835	$	344	$	238	$	941
Year ended December 31, 2022	$	679	$	637	$	481	$	835

Concentration of Customers

For the years ended December 31, 2024, 2023 and 2022 no single customer accounted for more than 2% of the Company’s net sales.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

Inventory and Other Deferred Costs [Policy Text Block]

Inventory and Other Deferred Costs

Research, Development, and Computer Software, Policy [Policy Text Block]

Cloud Computing Arrangements

	As of December 31,
	2024			2023
	(in thousands)
Gross cloud computing arrangements	$	5,121		$	3,619
Less accumulated amortization		(374	)		-

Cloud computing arrangements, net	$	4,747		$	3,619

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Description	Useful Life (in years)
Computer hardware	3	–	5
Machinery and equipment	3	–	10
Building and leasehold improvements	The shorter of its useful life or remaining lease term

Business Combinations Policy [Policy Text Block]

Valuation of Business Combinations

Contingent Consideration [Policy Text Block]

Contingent Consideration

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-lived Assets

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

Intangible Assets

Share-Based Payment Arrangement [Policy Text Block]

Stock-based Compensation

Lessee, Leases [Policy Text Block]

Leases

Commitments and Contingencies, Policy [Policy Text Block]

Commitments and Contingencies

Income Tax, Policy [Policy Text Block]

Income Taxes

The Company’s policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense.

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income (Loss)

Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block]

Restructuring

Debt, Policy [Policy Text Block]

Convertible Debt

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net income	$ 44,038	$ 30,105	$ 20,636
Other comprehensive income (loss):
Foreign currency translation adjustment, net	(1,710)	734	(1,071)
Unrealized gain (loss) on short-term marketable securities	151	672	(1,525)
Total other comprehensive income (loss)	(1,559)	1,406	(2,596)
Comprehensive income	$ 42,479	$ 31,511	$ 18,040

- Definition

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

- Definition

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

+ References

+ Details

Note 7 - Accrued Expenses and Other Long-term Liabilities

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

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

7. Accrued Expenses and Other Long-term Liabilities

Accrued expenses consist of the following:

	December 31, 2024		December 31, 2023
	(in thousands)
Compensation and related taxes	$	15,117	$	13,353
Accrued purchases		4,463		5,152
Accrued expenses		3,852		4,251
Income and other taxes		639		390
Accrued interest		144		-
Professional fees		86		104
Other		431		400

Total	$	24,732	$	23,650

Other long-term liabilities consist of the following:

	December 31, 2024		December 31, 2023
	(in thousands)
Acquisition-related liabilities	$	-	$	1,406
Income taxes		572		637
Other		259		225

Total	$	831	$	2,268

Note 6 - Convertible Senior Notes - Schedule of Long-Term Debt Instruments (Details) - Convertible Senior Notes [Member] $ in Thousands	Dec. 31, 2024 USD ($)
Principal amount of convertible senior notes	$ 172,500
Less: Current portion of convertible senior notes	0
Convertible senior notes, net of current portion	172,500
Debt discount, net of accretion	(4,728)
Convertible senior notes, net of discount and current portion	$ 167,772

Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unrecognized Tax Benefits	$ 515	$ 587	$ 612	$ 768
Deferred Tax Assets, Valuation Allowance, Total	1,653	1,702
Deferred Tax Assets, Operating Loss Carryforwards	774	942
Deferred Tax Assets, Capital Loss Carryforwards	422	462
Foreign Tax Jurisdiction [Member] \| AUSTRALIA
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(100)	$ 100	$ 100
Deferred Tax Assets, Operating Loss Carryforwards	1,000
Deferred Tax Assets, Capital Loss Carryforwards	1,400
Foreign Tax Jurisdiction [Member] \| FRANCE
Deferred Tax Assets, Operating Loss Carryforwards	1,300
Foreign Tax Jurisdiction [Member] \| SPAIN
Deferred Tax Assets, Operating Loss Carryforwards	500
Foreign Tax Jurisdiction [Member] \| NORWAY
Deferred Tax Assets, Operating Loss Carryforwards	100
Foreign Tax Jurisdiction [Member] \| CHINA
Deferred Tax Assets, Operating Loss Carryforwards	300
State and Local Jurisdiction [Member]
Tax Credit Carryforward, Amount	$ 1,800

Note 1 - Significant Accounting Policies and Related Matters - Summary of Property and Equipment (Details)	Dec. 31, 2024
Computers and Equipment [Member] \| Minimum [Member]
Property, plant, and equipment, useful life (Year)	3 years
Computers and Equipment [Member] \| Maximum [Member]
Property, plant, and equipment, useful life (Year)	5 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, plant, and equipment, useful life (Year)	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, plant, and equipment, useful life (Year)	10 years

Note 9 - Income Taxes - The Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 10,308	$ 6,203	$ 5,063
State	1,840	1,300	938
Foreign	1,140	1,084	1,035
Current Income Tax Expense (Benefit)	13,288	8,587	7,036
Deferred:
Federal	(363)	616	(144)
State	(94)	122	(83)
Foreign	6	45	45
Deferred Income Tax Expense (Benefit)	(451)	783	(182)
Provision for income taxes	$ 12,837	$ 9,370	$ 6,854

Note 1 - Significant Accounting Policies and Related Matters - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive securites (in shares)	1,453,445	294,580	293,053
Share-Based Payment Arrangement, Option [Member]
Antidilutive securites (in shares)	8,939	294,580	291,753
Restricted Stock Units (RSUs) [Member]
Antidilutive securites (in shares)	3,769	0	1,300
Senior Notes [Member]
Antidilutive securites (in shares)	1,440,737	0	0

Document And Entity Information - USD ($) $ in Billions	12 Months Ended
Document And Entity Information - USD ($) $ in Billions	Dec. 31, 2024	Feb. 24, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1.7
Entity Common Stock, Shares Outstanding (in shares)		22,558,631
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Boston, Massachusetts
Entity Central Index Key	0001158895
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Note 14 - Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

14. Accumulated Other Comprehensive Income (Loss)

	Year ended December 31,
	2024			2023			2022
	(in thousands)
Beginning balance	$	(4,625	)	$	(6,031	)	$	(3,435	)

Other comprehensive income (loss) before reclassifications		(1,559	)		1,406			(2,596	)
Amounts reclassified from accumulated other comprehensive loss		-			-			-

Ending Balance	$	(6,184	)	$	(4,625	)	$	(6,031	)

Changes to the Company’s accumulated other comprehensive loss consisted primarily of foreign currency translation and unrealized losses on short-term marketable securities for the years ended December 31, 2024, 2023, and 2022.

Note 1 - Significant Accounting Policies and Related Matters - Disaggregation of Revenue by Major Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue	$ 219,863	$ 193,484	$ 161,651
Americas [Member]
Revenue	144,583	130,308	109,439
EMEA [Member]
Revenue	59,969	51,099	41,854
Asia Pacific [Member]
Revenue	$ 15,311	$ 12,077	$ 10,358

- Definition

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.

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+ Details

Note 7 - Accrued Expenses and Other Long-term Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Compensation and related taxes	$ 15,117	$ 13,353
Accrued purchases	4,463	5,152
Accrued expenses	3,852	4,251
Income and other taxes	639	390
Accrued interest	144	0
Professional fees	86	104
Other	431	400
Total	$ 24,732	$ 23,650

Note 4 - Property and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales
Impairment, Long-Lived Asset, Held-for-Use	$ 0.9	$ 7.1	$ 0.5

Note 5 - Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	December 31, 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	$	18,709	$	10,840	$	29,549	$	16,048	$	13,501
Trademarks, tradenames and licenses		3,767		2,261		1,506		3,767		1,909		1,858
Customer relationships		37,171		13,709		23,462		37,171		11,064		26,107
Other intangible assets		1,536		1,525		11		1,643		1,398		245

Total identifiable intangible assets	$	72,023	$	36,204	$	35,819	$	72,130	$	30,419	$	41,711

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

	Year ended December 31,
	2024		2023		2022
			(in thousands)

Amortization expense	$	5,785	$	6,092	$	6,183

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

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

Amortization expense	$	5,566	$	5,119	$	4,842	$	4,456	$	4,423

Note 12 - Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

	Year ended December 31,
	2024		2023		2022
	(in thousands)

Net sales	$	219,863	$	193,484	$	161,651
Cost of sales		68,962		66,435		56,755
Gross profit		150,901		127,049		104,896

Less:
Selling expense		42,109		37,166		29,420
Marketing expense		4,628		3,888		3,501
Administrative expense		23,934		21,563		19,285
Finance expense		9,896		8,227		7,691
Management information systems expense		2,428		2,042		1,769
Research and development expense		3,431		2,738		1,895
Process engineering expense		2,938		3,632		3,051
Regulatory and clinical expense		9,281		10,596		8,348
Restructuring expense		-		485		3,107
Other income (expense), net*		8,218		6,607		6,193
Net income	$	44,038	$	30,105	$	20,636

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

	Year ended December 31,
	2024		2023		2022
	(in thousands)

United States	$	128,743	$	117,811	$	99,463
Germany		14,420		13,420		11,223
Canada		13,669		10,786		8,336
United Kingdom		10,960		8,561		5,841
Other countries		52,071		42,906		36,788

Net sales	$	219,863	$	193,484	$	161,651

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

	As of December 31,
	2024		2023		2022
	(in thousands)

United States	$	36,291	$	34,729	$	29,042
Germany		2,163		2,350		2,462
Other countries		3,114		2,702		2,031

Total long-term assets	$	41,568	$	39,781	$	33,535

Note 14 - Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Balance	$ 297,900	$ 268,201	$ 254,151
Balance	337,290	297,900	268,201
AOCI Attributable to Parent [Member]
Balance	(4,625)	(6,031)	(3,435)
Other comprehensive income (loss) before reclassifications	(1,559)		(2,596)
Amounts reclassified from accumulated other comprehensive loss	0	0	0
Balance	$ (6,184)	$ (4,625)	$ (6,031)

- Definition

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

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-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

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-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.6-09(6))
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
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-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2

+ Details

Consolidated Statements of Cash Flows (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Payments of Debt Issuance Costs	$ 3,234

Note 12 - Segment and Geographic Information - Long-term Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Long-term Assets	$ 41,568	$ 39,781	$ 33,535
UNITED STATES
Long-term Assets	36,291	34,729	29,042
GERMANY
Long-term Assets	2,163	2,350	2,462
Other Countries [Member]
Long-term Assets	$ 3,114	$ 2,702	$ 2,031

Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Year ended December 31,
	2024		2023		2022
	(in thousands)

United States	$	52,829	$	37,356	$	26,274
Foreign		4,046		2,119		1,216

Total	$	56,875	$	39,475	$	27,490

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year ended December 31,
	2024			2023		2022
				(in thousands)
Current:
Federal	$	10,308		$	6,203	$	5,063
State		1,840			1,300		938
Foreign		1,140			1,084		1,035

		13,288			8,587		7,036
Deferred:
Federal		(363	)		616		(144	)
State		(94	)		122		(83	)
Foreign		6			45		45

		(451	)		783		(182	)

Provision for income taxes	$	12,837		$	9,370	$	6,854

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

	2024			2023			2022
	(in thousands)
Unrecognized tax benefits at the beginning of year	$	587		$	612		$	768
Additions/adjustments for tax positions of current year		-			-			-
Additions/adjustments for tax positions of prior years		(33	)		(25	)		(57	)
Reductions for settlements with taxing authorities		-			-			-
Reductions for lapses of the applicable statutes of limitations		(39	)		-			(99	)
Unrecognized tax benefits at the end of the year	$	515		$	587		$	612

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	As of December 31,
	2024			2023
	(in thousands)
Deferred tax assets:
Inventory	$	2,682		$	2,280
Net operating loss carryforwards		774			942
Tax credit carryforwards		1,138			1,092
Capital loss carryforwards		422			462
Reserves and accruals		908			823
Operating lease liabilities		3,419			3,721
Intangible assets		4,488			4,503
Stock options		746			696
Other		2,526			1,741

Total deferred tax assets		17,103			16,260

Deferred tax liabilities:
Property and equipment		(3,166	)		(2,996	)
Goodwill		(7,039	)		(6,311	)
Operating lease right-of-use assets		(3,152	)		(3,472	)
Foreign branch deferred offset		(593	)		(700	)
Other		(160	)		(183	)

Total deferred tax liabilities		(14,110	)		(13,662	)

Net deferred tax assets before valuation allowance		2,993			2,598

Valuation allowance		(1,653	)		(1,702	)

Net deferred tax asset	$	1,340		$	896

Deferred tax classification
Long-term deferred tax asset	$	1,425		$	1,003
Long-term deferred tax liability		(85	)		(107	)

Net long-term deferred tax asset	$	1,340		$	896

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2024			2023			2022

Federal statutory rate		21.0	%		21.0	%		21.0	%
State tax, net of federal benefit		2.5	%		2.8	%		2.7	%
Effect of foreign taxes		0.6	%		1.7	%		4.0	%
Federal tax on foreign income		0.2	%		0.3	%		0.0	%
Valuation allowance		0.1	%		0.2	%		(0.2	%)
Foreign deferred tax liability offset		(0.1	%)		(0.1	%)		(0.2	%)
Research & development tax credits		(0.7	%)		(0.6	%)		0.0	%
Stock options		(1.7	%)		(1.8	%)		0.0	%
Uncertain tax positions		0.0	%		0.1	%		(0.3	%)
Other permanent differences		0.6	%		0.4	%		(1.8	%)
Other		0.1	%		(0.3	%)		(0.3	%)

Effective tax rate		22.6	%		23.7	%		24.9	%

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

	Year ended December 31,
	2024		2023		2022
	(in thousands)
Cash paid for income taxes, net	$	12,837	$	7,549	$	8,343

Note 8 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

8. Commitments and Contingencies

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 December 31, 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	Artegraft biologic business		16,732	October 2029
Burlington, MA	US distribution		12,878	December 2030
Fox River Grove, IL	RestoreFlow allografts business		9,754	December 2026
Fox River Grove, IL	RestoreFlow allografts business		4,878	November 2025
Vaughn, Canada	Canada sales office and distribution		3,192	February 2026

Europe, Middle East and Africa
Sulzbach, Germany	European headquarters and distribution		21,410	June 2031
Milan, Italy	Italy sales office and distribution		5,705	September 2027
Hereford, England	United Kingdom sales office and distribution		3,575	October 2029
Maisons-Alfort, France	France sales office		3,492	February 2030
Zurich, Switzerland	Switzerland sales office and distribution		2,935	February 2030
Madrid, Spain	Spain sales office		2,260	June 2029

Asia Pacific
Tokyo, Japan	Japan sales office and distribution		4,236	July 2025
Shanghai, China	China sales office and distribution		3,432	October 2027
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 the Company’s noncancelable lease payments include non-lease components such as maintenance contracts. The Company generally reimburses the landlord for direct operating costs associated with the leased space. The Company has no subleases, and there are no residual value guarantees associated with, or restrictive covenants imposed by, any of its leases. The Company held no assets under capital leases as of December 31, 2024. The Company elected the package of practical expedients that allow it to omit leases with initial terms of 12 months or less from its balance sheet, which the Company expenses 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 the Company’s leases is as follows:

	Year ended			Year ended
	December 31,			December 31,
	2024			2023
	(in thousands)			(in thousands)

Lease cost
Operating lease cost	$	2,895		$	2,420
Short-term lease cost		80			378
Total lease cost	$	2,975		$	2,798

Other information
Cash paid for amounts included in the measurement of operating lease liabilities	$	3,991		$	3,139

Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,637		$	4,813


Weighted average remaining lease term - operating leases (in years)		6.5			7.3

Weighted average discount rate - operating leases		6.63	%		6.57	%

As of December 31, 2024, the minimum noncancelable operating lease rental commitments with initial or remaining terms of more than one year are as follows:

Year ending December 31,
2025	$	3,775
2026		3,204
2027		2,731
2028		2,608
2029		2,555
Thereafter		8,524
Adjustment to net present value as of December 31, 2024		(5,484	)

Minimum noncancelable lease liability	$	17,913

Purchase Commitments

As part of the Company’s normal course of business, the Company has commitments to purchase approximately $17.5 million of inventory through 2025. These purchases are to be used in the normal course of business and do not represent excess commitments or loss contracts.

Note 9 - Income Taxes

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Income Tax Disclosure [Text Block]

9. Income Taxes

Income (loss) before income taxes was as follows:

	Year ended December 31,
	2024		2023		2022
	(in thousands)

United States	$	52,829	$	37,356	$	26,274
Foreign		4,046		2,119		1,216

Total	$	56,875	$	39,475	$	27,490

Certain of the Company’s foreign subsidiaries are included in the Company’s U.S. tax return as branches but are included as foreign for purposes of the table above.

The provision (benefit) for income taxes was as follows:

	Year ended December 31,
	2024			2023		2022
				(in thousands)
Current:
Federal	$	10,308		$	6,203	$	5,063
State		1,840			1,300		938
Foreign		1,140			1,084		1,035

		13,288			8,587		7,036
Deferred:
Federal		(363	)		616		(144	)
State		(94	)		122		(83	)
Foreign		6			45		45

		(451	)		783		(182	)

Provision for income taxes	$	12,837		$	9,370	$	6,854

The Company has reviewed the tax positions taken, or to be taken, in its tax returns for all tax years currently open to examination by a taxing authority. As of December 31, 2024, the gross amount of unrecognized tax benefits exclusive of interest and penalties was $0.5 million, which may increase within the 12 months ending December 31, 2025. The Company remains 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 through 2031. A reconciliation of the beginning and ending amount of the Company’s unrecognized tax benefits is as follows:

	2024			2023			2022
	(in thousands)
Unrecognized tax benefits at the beginning of year	$	587		$	612		$	768
Additions/adjustments for tax positions of current year		-			-			-
Additions/adjustments for tax positions of prior years		(33	)		(25	)		(57	)
Reductions for settlements with taxing authorities		-			-			-
Reductions for lapses of the applicable statutes of limitations		(39	)		-			(99	)
Unrecognized tax benefits at the end of the year	$	515		$	587		$	612

Deferred taxes were attributable to the following temporary differences:

	As of December 31,
	2024			2023
	(in thousands)
Deferred tax assets:
Inventory	$	2,682		$	2,280
Net operating loss carryforwards		774			942
Tax credit carryforwards		1,138			1,092
Capital loss carryforwards		422			462
Reserves and accruals		908			823
Operating lease liabilities		3,419			3,721
Intangible assets		4,488			4,503
Stock options		746			696
Other		2,526			1,741

Total deferred tax assets		17,103			16,260

Deferred tax liabilities:
Property and equipment		(3,166	)		(2,996	)
Goodwill		(7,039	)		(6,311	)
Operating lease right-of-use assets		(3,152	)		(3,472	)
Foreign branch deferred offset		(593	)		(700	)
Other		(160	)		(183	)

Total deferred tax liabilities		(14,110	)		(13,662	)

Net deferred tax assets before valuation allowance		2,993			2,598

Valuation allowance		(1,653	)		(1,702	)

Net deferred tax asset	$	1,340		$	896

Deferred tax classification
Long-term deferred tax asset	$	1,425		$	1,003
Long-term deferred tax liability		(85	)		(107	)

Net long-term deferred tax asset	$	1,340		$	896

In 2022, the Company decreased its valuation allowance by $0.1 million mainly attributable to Australian net operating loss carry forwards and Massachusetts credit carryforwards. In 2023, the Company increased its valuation allowance by $0.1 million mainly attributable to Australian net operating loss carry forwards and Massachusetts credit carryforwards. In 2024, the Company decreased its valuation allowance by less than $0.1 million, with this decrease being mainly attributable to Australian net operating loss carry forwards and Massachusetts credit carryforwards.

As of December 31, 2024, the Company has provided a valuation allowance of $1.7 million for deferred tax assets primarily related to Australian net operating loss and capital loss carry forwards and Massachusetts tax credit carry forwards that are not expected to be realized. The valuation allowance against the Company’s deferred tax assets may require adjustment in the future based on changes in the mix of temporary differences, changes in tax laws, and operating performance.

Realization of the Company’s deferred tax assets is dependent on the Company generating sufficient taxable income in future periods. Although the Company believes it is more likely than not that future taxable income will be sufficient to allow it to recover substantially all of the value of its deferred tax assets remaining after the Company applies the valuation allowances, realization is not assured and future events could cause the Company to change its judgment. In the event that actual results differ from the Company’s estimates, or the Company adjusts these estimates in the future periods, further adjustments to the Company’s valuation allowance may be recorded, which could materially impact its financial position and net income (loss) in the period of the adjustment.

As of December 31, 2024, the Company had net operating loss carryforwards in Australia of $1.0 million that do not expire, in France of $1.3 million that do not expire, in Spain of $0.5 million that do not expire, in Norway of $0.1 million that do not expire, and in China of $0.3 million that expire in three years. The Company has a capital loss carryforward in Australia of $1.4 million that does not expire. The Company also has state tax credit carryforwards of approximately $1.8 million that are available to reduce future tax liabilities, which begin to expire in 2030, or can be carried forward indefinitely.

In December 2018, the Company reevaluated its international operations and as a result, is no longer indefinitely reinvested with respect to undistributed earnings from its German and Australian subsidiaries. There was no material deferred tax expense recorded for foreign and state tax costs associated with the future remittance of these undistributed earnings. The Company remains permanently reinvested with respect to undistributed earnings from our other foreign subsidiaries. The Company has determined that it is not practicable to estimate the amount of deferred tax liability, if any, with respect to these permanently reinvested undistributed earnings.

A reconciliation of the U.S. federal statutory rate to the Company’s effective tax rate is as follows:

	2024			2023			2022

Federal statutory rate		21.0	%		21.0	%		21.0	%
State tax, net of federal benefit		2.5	%		2.8	%		2.7	%
Effect of foreign taxes		0.6	%		1.7	%		4.0	%
Federal tax on foreign income		0.2	%		0.3	%		0.0	%
Valuation allowance		0.1	%		0.2	%		(0.2	%)
Foreign deferred tax liability offset		(0.1	%)		(0.1	%)		(0.2	%)
Research & development tax credits		(0.7	%)		(0.6	%)		0.0	%
Stock options		(1.7	%)		(1.8	%)		0.0	%
Uncertain tax positions		0.0	%		0.1	%		(0.3	%)
Other permanent differences		0.6	%		0.4	%		(1.8	%)
Other		0.1	%		(0.3	%)		(0.3	%)

Effective tax rate		22.6	%		23.7	%		24.9	%

The Company is not currently under income tax audit in any tax jurisdictions.

As of December 31, 2024, the Company remains subject to examination in our most significant tax jurisdictions as follows:

United States	2020 and forward
Foreign	2016 and forward

Supplemental disclosures of cash flow information are as follows:

	Year ended December 31,
	2024		2023		2022
	(in thousands)
Cash paid for income taxes, net	$	12,837	$	7,549	$	8,343

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Paragraph 17
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Note 10 - Stockholders' Equity - Weighted Average Assumptions (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Dividend yield	0.63%	1.02%	1.06%
Volatility	36.70%	43.00%	44.60%
Risk-free interest rate	4.10%	4.30%	3.90%
Weighted average expected option term (in years) (Year)	4 years 4 months 24 days	4 years 6 months	4 years 6 months
Weighted average fair value per share of options granted (in dollars per share)	$ 34.99	$ 20.75	$ 18.1

Note 9 - Income Taxes - Reconciliation of the Federal Statutory Rate to Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Federal statutory rate	21.00%	21.00%	21.00%
State tax, net of federal benefit	2.50%	2.80%	2.70%
Effect of foreign taxes	0.60%	1.70%	4.00%
Federal tax on foreign income	0.20%	0.30%	0.00%
Valuation allowance	0.10%	0.20%	(0.20%)
Foreign deferred tax liability offset	(0.10%)	(0.10%)	(0.20%)
Research & development tax credits	(0.70%)	(0.60%)	0.00%
Stock options	(1.70%)	(1.80%)	0.00%
Uncertain tax positions	0	0.001	(0.003)
Other permanent differences	0.60%	0.40%	(1.80%)
Other	0.10%	(0.30%)	(0.30%)
Effective tax rate	22.60%	23.70%	24.90%

Note 10 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Feb. 18, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common Stock, Shares Authorized		37,000,000	37,000,000
Preferred Stock, Shares Authorized		3,000,000	3,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized		6,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period		10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized		8,118,003
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		1,105,266
Proceeds from Stock Options Exercised		$ 6.4	$ 6.2	$ 3.5
Common Stock, Dividends, Per Share, Declared		$ 0.64	$ 0.56	$ 0.5
Subsequent Event [Member] \| O 2025 Q1 Dividends [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.2
Dividends Payable, Date to be Paid	Mar. 27, 2025
Dividends Payable, Date of Record	Mar. 13, 2025
Dividends Payable	$ 4.5
Stock Repurchase Program [Member] \| Common Stock [Member]
Treasury Stock, Shares, Acquired (in shares)		0
Stock Repurchase Program [Member] \| Common Stock [Member] \| Subsequent Event [Member]
Share Repurchase Program, Authorized, Amount	$ 75.0
Share-Based Payment Arrangement, Option [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period		4 years
Share-Based Payment Arrangement, Option [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period		5 years
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 4.9	$ 2.7	$ 2.1
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 18.3
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		2 years
Performance-based Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 1.2

Note 12 - Segment and Geographic Information

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12. Segment and Geographic Information

The Company regularly reviews its segment financial information and the approach used by the chief operating decision maker (“CODM”), the Chief Executive Officer, to evaluate performance and allocate resources. The Company considers the business to be a single operating segment engaged in the development, manufacturing, and marketing of medical devices and implants, as well as the processing and cryopreservation of human tissues for implantation in patients, all used primarily in the field of vascular surgery.

The CODM assesses performance for its single operating segment and decides how to allocate resources based on net income that also is reported on the consolidated statements of operations. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. The accounting policies of the segment are the same as those described in Significant Accounting Policies and Related Matters (see Note 1).

The CODM uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the single operating segment or into other parts of the entity, such as for acquisitions, dividend payments, and/or short-term marketable security investments. Net income is also used to monitor budget versus actual results, which is used in assessing performance of the segment and in establishing management’s compensation.

In addition to total segment net income, the CODM’s quarterly reporting package includes several highlighted expense categories that the CODM considers key strategic drivers of the Company’s long-term profitability. The following is the Company’s operating segment reconciliation of net income, including significant segment expenses:

	Year ended December 31,
	2024		2023		2022
	(in thousands)

Net sales	$	219,863	$	193,484	$	161,651
Cost of sales		68,962		66,435		56,755
Gross profit		150,901		127,049		104,896

Less:
Selling expense		42,109		37,166		29,420
Marketing expense		4,628		3,888		3,501
Administrative expense		23,934		21,563		19,285
Finance expense		9,896		8,227		7,691
Management information systems expense		2,428		2,042		1,769
Research and development expense		3,431		2,738		1,895
Process engineering expense		2,938		3,632		3,051
Regulatory and clinical expense		9,281		10,596		8,348
Restructuring expense		-		485		3,107
Other income (expense), net*		8,218		6,607		6,193
Net income	$	44,038	$	30,105	$	20,636

*Refer to the consolidated statements of operations for a listing of other income and expense.

Most of the Company’s revenues are generated in the United States, Germany, the United Kingdom, other European countries, and Canada. Substantially all of the Company’s assets are located in the United States and Germany. Net sales to unaffiliated customers based on customer location by country were as follows:

	Year ended December 31,
	2024		2023		2022
	(in thousands)

United States	$	128,743	$	117,811	$	99,463
Germany		14,420		13,420		11,223
Canada		13,669		10,786		8,336
United Kingdom		10,960		8,561		5,841
Other countries		52,071		42,906		36,788

Net sales	$	219,863	$	193,484	$	161,651

Long-term assets by country, including property and equipment, net and right-of-use leased assets were as follows:

	As of December 31,
	2024		2023		2022
	(in thousands)

United States	$	36,291	$	34,729	$	29,042
Germany		2,163		2,350		2,462
Other countries		3,114		2,702		2,031

Total long-term assets	$	41,568	$	39,781	$	33,535

- Definition

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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+ Details

Note 5 - Other Intangibles

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

5. Other Intangibles

Other intangibles consisted of the following:

	December 31, 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	$	18,709	$	10,840	$	29,549	$	16,048	$	13,501
Trademarks, tradenames and licenses		3,767		2,261		1,506		3,767		1,909		1,858
Customer relationships		37,171		13,709		23,462		37,171		11,064		26,107
Other intangible assets		1,536		1,525		11		1,643		1,398		245

Total identifiable intangible assets	$	72,023	$	36,204	$	35,819	$	72,130	$	30,419	$	41,711

The Company is amortizing these assets over useful lives ranging from 2 to 16 years. The weighted-average amortization period for these intangibles as of December 31, 2024, is 8.5 years. The Company includes amortization expense in general and administrative expense as follows:

	Year ended December 31,
	2024		2023		2022
			(in thousands)

Amortization expense	$	5,785	$	6,092	$	6,183

Estimated amortization expense for each of the next five fiscal years, based upon the intangible assets at December 31, 2024, is as follows:

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

Amortization expense	$	5,566	$	5,119	$	4,842	$	4,456	$	4,423

Note 12 - Segment and Geographic Information - Operating Segment Reconciliation to Net Income (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Net sales

$ 219,863

$ 193,484

$ 161,651

Cost of sales

68,962

66,435

56,755

Gross profit

150,901

127,049

104,896

Research and development expense

15,650

16,966

13,294

Restructuring expense

485

3,107

Net income

44,038

30,105

20,636

Operating Segments [Member]

Net sales

219,863

193,484

161,651

Cost of sales

68,962

66,435

56,755

Gross profit

150,901

127,049

104,896

Selling expense

42,109

37,166

29,420

Marketing expense

4,628

3,888

3,501

Administrative expense

23,934

21,563

19,285

Finance expense

9,896

8,227

7,691

Management information systems expense

2,428

2,042

1,769

Research and development expense

3,431

2,738

1,895

Process engineering expense

2,938

3,632

3,051

Regulatory and clinical expense

9,281

10,596

8,348

Restructuring expense

485

3,107

Other income (expense), net*

^[1]

8,218

6,607

6,193

Net income

$ 44,038

$ 30,105

$ 20,636

[1]	Refer to the consolidated statements of operations for a listing of other income and expense.

Note 4 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Gross property and equipment	$ 49,016	$ 43,242
Less accumulated depreciation	(24,216)	(21,488)
Property and equipment, net	24,800	21,754
Computers and Equipment [Member]
Gross property and equipment	4,970	5,319
Machinery and Equipment [Member]
Gross property and equipment	18,793	16,942
Building and Leasehold Improvements [Member]
Gross property and equipment	$ 25,253	$ 20,981

Note 10 - Stockholders' Equity - Stock-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stock-based compensation	$ 6,568	$ 5,319	$ 4,173
Cost of Sales [Member]
Stock-based compensation	927	686	494
Sales [Member]
Stock-based compensation	1,104	966	771
General and Administrative Expense [Member]
Stock-based compensation	3,866	3,143	2,500
Research and Development Expense [Member]
Stock-based compensation	671	524	408
Share-Based Payment Arrangement, Option [Member]
Stock-based compensation	2,996	2,705	2,487
Restricted Stock Units (RSUs) [Member]
Stock-based compensation	2,307	1,951	1,654
Performance Shares [Member]
Stock-based compensation	$ 1,265	$ 663	$ 32

Note 5 - Goodwill and Other Intangibles - Components of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Gross carrying value	$ 72,023	$ 72,130
Accumulated amortization	36,204	30,419
Net carrying value	35,819	41,711
Product Technology and Intellectual Property [Member]
Gross carrying value	29,549	29,549
Accumulated amortization	18,709	16,048
Net carrying value	10,840	13,501
Trademarks, Tradenames and Licenses [Member]
Gross carrying value	3,767	3,767
Accumulated amortization	2,261	1,909
Net carrying value	1,506	1,858
Customer Relationships [Member]
Gross carrying value	37,171	37,171
Accumulated amortization	13,709	11,064
Net carrying value	23,462	26,107
Other Intangible Assets [Member]
Gross carrying value	1,536	1,643
Accumulated amortization	1,525	1,398
Net carrying value	$ 11	$ 245

Note 4 - Property and Equipment

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

4. Property and Equipment

Property and equipment consisted of the following:

	As of December 31,
	2024			2023
	(in thousands)
Computer hardware	$	4,970		$	5,319
Machinery and equipment		18,793			16,942
Building and leasehold improvements		25,253			20,981

Gross property and equipment		49,016			43,242
Less accumulated depreciation		(24,216	)		(21,488	)

Property and equipment, net	$	24,800		$	21,754

During the years ended December 31, 2024, 2023, and 2022, the Company wrote off fully depreciated assets with gross values of $0.9 million, $7.1 million, and $0.5 million, respectively.

Depreciation expense was as follows:

	Year ended December 31,
	2024		2023		2022
			(in thousands)

Depreciation expense	$	3,823	$	3,423	$	3,250

Note 9 - Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United States	$ 52,829	$ 37,356	$ 26,274
Foreign	4,046	2,119	1,216
Income before income taxes	$ 56,875	$ 39,475	$ 27,490

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

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+ Details

Note 1 - Significant Accounting Policies and Related Matters (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Disaggregation of Revenue [Table Text Block]

	Year ended December 31,
	2024		2023		2022
Americas	$	144,583	$	130,308	$	109,439
Europe, Middle East and Africa		59,969		51,099		41,854
Asia Pacific		15,311		12,077		10,358
Total	$	219,863	$	193,484	$	161,651

Schedule of Advertising Expenses [Table Text Block]

	Year ended December 31,
	2024		2023		2022
			(in thousands)

Advertising expense	$	330	$	240	$	195

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	Balance at		Additions		Deductions		Balance at
	Beginning		charged		from		End of
	of Period		to Income		Reserves		Period
	(in thousands)
Allowance for credit losses and sales returns:
Year ended December 31, 2024	$	941	$	813	$	385	$	1,369
Year ended December 31, 2023	$	835	$	344	$	238	$	941
Year ended December 31, 2022	$	679	$	637	$	481	$	835

Schedule of Cloud Computing Arrangements [Table Text Block]

	As of December 31,
	2024			2023
	(in thousands)
Gross cloud computing arrangements	$	5,121		$	3,619
Less accumulated amortization		(374	)		-

Cloud computing arrangements, net	$	4,747		$	3,619

Schedule of Property, Plant and Equipment Estimated Useful Lives [Table Text Block]

Description	Useful Life (in years)
Computer hardware	3	–	5
Machinery and equipment	3	–	10
Building and leasehold improvements	The shorter of its useful life or remaining lease term

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Year ended December 31,
	2024		2023		2022

Options to purchase common stock		8,939		294,580		291,753
Restricted stock units		3,769		-		1,300
Convertible senior notes		1,440,737		-		-
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive		1,453,445		294,580		293,053

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

	Year ended December 31,
	2024		2023		2022
	(in thousands, except per share data)
Basic:
Net income available for common stockholders	$	44,038	$	30,105	$	20,636
Weighted average shares outstanding		22,452		22,217		21,975
Basic earnings per share	$	1.96	$	1.36	$	0.94

Diluted:
Net income available for common stockholders	$	44,038	$	30,105	$	20,636
Weighted-average shares outstanding		22,452		22,217		21,975
Common stock equivalents, if dilutive		327		206		196
Shares used in computing diluted earnings per common share		22,779		22,423		22,171

Diluted earnings per share	$	1.93	$	1.34	$	0.93

Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive		1,453		295		293

Note 10 - Stockholders' Equity - Dividend Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash dividends declared per common share (in dollars per share)									$ 0.64	$ 0.56	$ 0.5
O 2024 Q1 Dividends [Member]
Dividends, payment date				Mar. 28, 2024
Cash dividends declared per common share (in dollars per share)				$ 0.16
Dividends, payment				$ 3,589
O 2024 Q2 Dividends [Member]
Dividends, payment date			May 30, 2024
Cash dividends declared per common share (in dollars per share)			$ 0.16
Dividends, payment			$ 3,593
O 2024 Q3 Dividends [Member]
Dividends, payment date		Aug. 29, 2024
Cash dividends declared per common share (in dollars per share)		$ 0.16
Dividends, payment		$ 3,596
O 2024 Q4 Dividends [Member]
Dividends, payment date	Dec. 05, 2024
Cash dividends declared per common share (in dollars per share)	$ 0.16
Dividends, payment	$ 3,600								$ 3,600
O 2023 Q1 Dividends [Member]
Dividends, payment date								Mar. 23, 2023
Cash dividends declared per common share (in dollars per share)								$ 0.14
Dividends, payment								$ 3,099
O 2023 Q2 Dividends [Member]
Dividends, payment date							Jun. 01, 2023
Cash dividends declared per common share (in dollars per share)							$ 0.14
Dividends, payment							$ 3,116
O 2023 Q3 Dividends [Member]
Dividends, payment date						Aug. 31, 2023
Cash dividends declared per common share (in dollars per share)						$ 0.14
Dividends, payment						$ 3,117
O 2023 Q4 Dividends [Member]
Dividends, payment date					Nov. 30, 2023
Cash dividends declared per common share (in dollars per share)					$ 0.14
Dividends, payment					$ 3,117					$ 3,117

Note 9 - Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized tax benefits at the beginning of year	$ 587	$ 612	$ 768
Additions/adjustments for tax positions of current year	0	0	0
Additions/adjustments for tax positions of prior years	(33)	(25)	(57)
Reductions for settlements with taxing authorities	0	0	0
Reductions for lapses of the applicable statutes of limitations	(39)	0	(99)
Unrecognized tax benefits at the end of the year	$ 515	$ 587	$ 612

Note 3 - Inventory and Other Deferred Costs (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	December 31, 2024		December 31, 2023
	(in thousands)
Raw materials	$	19,109	$	18,333
Work-in-process		2,157		2,869
Finished products		34,676		31,131
Other deferred costs		8,985		5,747

Total inventory and other deferred costs	$	64,927	$	58,080

Note 1 - Significant Accounting Policies and Related Matters - Schedule of Cloud Computing Arrangements (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Gross cloud computing arrangements	$ 5,121	$ 3,619
Less accumulated amortization	(374)	0
Cloud computing arrangements, net	$ 4,747	$ 3,619

Note 1 - Significant Accounting Policies and Related Matters - Allowance for Doubtful Accounts and Sales Returns (Details) - Allowance for Doubtful Accounts and Sales Returns [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Balance	$ 941	$ 835	$ 679
Additions charged to income	813	344	637
Deductions from Reserves	385	238	481
Balance	$ 1,369	$ 941	$ 835

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 25,610	$ 24,269
Short-term marketable securities	274,112	80,805
Accounts receivable, net of allowances of $1,369 at December 31, 2024 and $941 at December 31, 2023	30,063	25,064
Inventory and other deferred costs	64,927	58,080
Prepaid expenses and other current assets	7,480	6,380
Total current assets	402,192	194,598
Property and equipment, net	24,800	21,754
Right-of-use leased assets	16,768	18,027
Goodwill	65,945	65,945
Other intangibles, net	35,819	41,711
Deferred tax assets	1,425	1,003
Other assets	4,868	3,740
Total assets	551,817	346,778
Current liabilities:
Accounts payable	1,761	3,734
Accrued expenses	24,732	23,650
Acquisition-related obligations	1,433	24
Lease liabilities - short-term	2,681	2,471
Total current liabilities	30,607	29,879
Convertible senior notes, net	167,772	0
Lease liabilities - long-term	15,232	16,624
Deferred tax liabilities	85	107
Other long-term liabilities	831	2,268
Total liabilities	214,527	48,878
Commitments and Contingencies
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 24,153,165 shares at December 31, 2024, and 23,911,760 shares at December 31, 2023	242	239
Additional paid-in capital	213,760	200,755
Retained earnings	145,090	115,430
Accumulated other comprehensive loss	(6,184)	(4,625)
Treasury stock, at cost; 1,603,825 shares at December 31, 2024 and 1,584,512 shares at December 31, 2023	(15,618)	(13,899)
Total stockholders’ equity	337,290	297,900
Total liabilities and stockholders’ equity	$ 551,817	$ 346,778

Note 5 - Goodwill and Other Intangibles - Estimated Amortization Expense for Each of Five Succeeding Fiscal Years (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 5,566
2026	5,119
2027	4,842
2028	4,456
2029	$ 4,423

Note 10 - Stockholders' Equity - Summary of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Outstanding (in shares)	781,124	859,975	846,754
Outstanding, weighted average exercise price (in dollars per share)	$ 42.78	$ 37.53	$ 33.83
Outstanding, weighted average contractual term (Year)	4 years 4 months 6 days	4 years 5 months 1 day	4 years 4 months 6 days	4 years 6 months
Outstanding, aggregate intrinsic value	$ 28,160	$ 10,924	$ 7,878	$ 13,888
Granted (in shares)	125,834	148,115	159,275
Granted, weighted average exercise price (in dollars per share)	$ 101.12	$ 54.71	$ 47.21
Exercised (in shares)	(178,064)	(207,643)	(133,963)
Exercised, weighted average exercise price (in dollars per share)	$ 36.16	$ 29.72	$ 25.8
Exercised, aggregate intrinsic value	$ 7,271	$ 5,914	$ 3,021
Canceled / Expired (in shares)	(9,458)	(19,323)	(12,091)
Canceled / Expired (in dollars per share)	$ 47.06	$ 41.55	$ 35.53
Outstanding (in shares)	719,436	781,124	859,975	846,754
Outstanding, weighted average exercise price (in dollars per share)	$ 54.57	$ 42.78	$ 37.53	$ 33.83
Exercisable (in shares)	349,981	356,519	369,593
Exercisable, weighted average exercise price (in dollars per share)	$ 41.39	$ 36.83	$ 32.16
Exercisable, weighted average contractual term (Year)	3 years 1 month 28 days	3 years 2 months 15 days	3 years 2 months 1 day
Exercisable, aggregate intrinsic value	$ 17,760	$ 7,107	$ 5,223
Expected to vest (in shares)	369,455	424,605	490,382
Expected to vest, weighted average exercise price (in dollars per share)	$ 67.05	$ 47.78	$ 41.59
Expected to vest, weighted average contractual term (Year)	5 years 5 months 15 days	5 years 5 months 4 days	5 years 2 months 23 days
Expected to vest, aggregate intrinsic value	$ 10,400	$ 3,817	$ 2,655

Note 4 - Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Property, Plant and Equipment [Table Text Block]

	As of December 31,
	2024			2023
	(in thousands)
Computer hardware	$	4,970		$	5,319
Machinery and equipment		18,793			16,942
Building and leasehold improvements		25,253			20,981

Gross property and equipment		49,016			43,242
Less accumulated depreciation		(24,216	)		(21,488	)

Property and equipment, net	$	24,800		$	21,754

Depreciation Expense [Table Text Block]

	Year ended December 31,
	2024		2023		2022
			(in thousands)

Depreciation expense	$	3,823	$	3,423	$	3,250

Note 6 - Convertible Senior Notes

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Debt Disclosure [Text Block]

6. Convertible Senior Notes

Convertible senior notes consisted of the following:

	As of December 31,
	2024
	(in thousands)
Principal amount of convertible senior notes	$	172,500
Less: Current portion of convertible senior notes		-
Convertible senior notes, net of current portion		172,500
Debt discount, net of accretion		(4,728	)

Convertible senior notes, net of discount and current portion	$	167,772

On December 19, 2024, the Company issued $172.5 million aggregate principal amount of convertible senior notes due 2030 (the “Convertible Notes”), in a Rule 144A private placement to qualified institutional buyers pursuant to an indenture dated December 19, 2024, by and between the Company and U.S. Bank Trust Company, National Association (the “Indenture”).

The Convertible Notes will mature on February 1, 2030, unless earlier repurchased, redeemed, or converted. The proceeds from the issuance of the Convertible Notes were approximately $167.7 million, net of initial purchaser discounts and other debt issuance costs totaling $4.8 million.

The Convertible Notes bear interest at a rate of 2.50% per year and interest is payable semiannually in arrears on August 1 and February 1 of each year. The initial conversion rate is 8.3521 shares of common stock per $1,000 principal amount of the Convertible Notes, which represents an initial conversion price of approximately $119.73 per share of common stock and a premium of approximately 30% over the closing price of the Company’s common stock on December 16, 2024. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events as described in the Indenture.

Noteholders may convert all or a portion of their Convertible Notes at their option only in the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2025, if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for each of at least 20 trading days during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter; (2) during the five consecutive business days immediately after any five consecutive trading day period in which the trading price per $1,000 principal amount of Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Company’s common stock on such trading day and the conversion rate on such trading day; (3) upon the occurrence of certain corporate events or distributions on the Company’s common stock, as described in the Indenture; (4) if the Company calls (or is deemed to have called) any Convertible Notes for redemption; and (5) at any time from, and including, August 1, 2029, until the close of business on the second scheduled trading day immediately before the maturity date. The Company has the right to elect to settle conversions either in cash, shares of its common stock, or in a combination of cash and shares of its common stock.

Additional interest of up to 0.5% per annum is payable if the Company fails to timely file required documents or reports with the Securities and Exchange Commission (“SEC”) or the Convertible Notes become not freely tradable (as defined in the Indenture). The Company determined that the higher interest payments required in certain circumstances were embedded derivatives that should be bifurcated and accounted for at fair value. The Company assessed the value of the embedded derivatives at December 31, 2024 and determined it was de minimis.

Prior to February 5, 2028, the Convertible Notes will not be redeemable. On or after February 5, 2028 until the fortieth trading day immediately before the maturity date, the Company may redeem for cash all or any portion of the Convertible Notes (subject to the partial redemption limitation set forth in the Indenture), at its option, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption. In addition, calling any Convertible Note for redemption will constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) with respect to that Convertible Note, in which case the conversion rate applicable to the conversion of that Convertible Note will be increased in certain circumstances if it is converted after it is called for redemption.

The Company accounts for the Convertible Notes as a single liability in accordance with ASC 470-20 as the Company concluded that embedded conversion features within the Convertible Notes do not meet the requirements for bifurcation. Initial purchaser discounts and other debt issuance costs related to the Convertible Notes totaling $4.8 million were recorded by the Company as a debt discount. The debt discount is reflected as a reduction of the carrying value of the Convertible Notes on the Company’s consolidated balance sheets and is being accreted to interest expense over the term of the Convertible Notes using the effective interest method. During the year ended December 31, 2024, the Company recognized $0.2 million in interest expense related to the 2.50% cash coupon of the Convertible Notes and amortization of the debt issuance costs. During the year ended December 31, 2024, the effective interest rate on the outstanding Convertible Notes was approximately 3.1%.

As of December 31, 2024, the estimated fair value of the Convertible Notes was $178.6 million. The Company determined the fair value based on the quoted price of the last trade of the Convertible Notes prior to the end of the reporting period in an inactive market, which is considered as Level 2 in the fair value hierarchy.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
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-Subparagraph (a)(1)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
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-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 12 - Segment and Geographic Information - Net Sales to Unaffiliated Customers by Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 219,863	$ 193,484	$ 161,651
UNITED STATES
Net sales	128,743	117,811	99,463
GERMANY
Net sales	14,420	13,420	11,223
CANADA
Net sales	13,669	10,786	8,336
UNITED KINGDOM
Net sales	10,960	8,561	5,841
Other Countries [Member]
Net sales	$ 52,071	$ 42,906	$ 36,788

- Definition

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.

+ References

+ Details

Note 2 - Divestitures

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

2. Divestitures

On April 26, 2022, the Company committed to a plan to close its St. Etienne, France factory, which supported its LeMaitre Cardial SAS (Cardial) business, in order to streamline manufacturing operations and reduce expenses. The Cardial business consisted of the manufacture of polyester vascular grafts, valvulotomes, surgical glue, and selected OEM devices. The Company acquired the Cardial business in 2018.

On June 30, 2022, the Company ceased operations at the St. Etienne, France factory. The closure resulted in a restructuring charge of $3.1 million for the year ended December 31, 2022. These charges primarily consisted of employment termination costs, impairment of fixed assets and inventory, and third-party costs.

For the year ended December 31, 2023, the Company recorded additional restructuring expenses of $0.5 million. The additional expenses consisted primarily of employment termination, settlement, legal, and other third-party costs.

Note 13 - Fair Value Measurements

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Fair Value Disclosures [Text Block]

13. 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 December 31, 2024, included the Company’s short-term marketable securities, which consist of a U.S. government money market fund and a short-duration bond fund.

The Company uses Level 2 fair value measurements for its Convertible Notes, which are carried at the face value less unamortized debt discount and issuance costs on the consolidated balance sheets. The fair value of the Convertible Notes is presented at each reporting period for disclosure purposes only (see Note 6).

Several of the Company’s acquisition-related assets and liabilities have been measured using Level 3 techniques. During 2020 the Company recorded a contingent liability associated with its acquisition of the bovine carotid graft business from Artegraft. The agreement required the Company to make potential additional payments to Artegraft of up to $17.5 million, depending on the achievement of certain unit sales milestones during the first three calendar years following the acquisition through December 31, 2023. The Company recorded this liability at a fair value of $0.4 million in 2020 to reflect management’s estimate of the likelihood of achieving these targets at the time of the closing, as well as the time value of money until payment. The Company was remeasuring this amount each quarter during the earn-out period, with any adjustments recorded in income from operations. As of December 31, 2023, there were no unit sales milestones achieved during the earn-out period, and therefore the Company reduced the remaining liability to zero.

During 2019, the Company recorded contingent liabilities associated with its acquisition of the Anteris biologic patch business. The agreement includes the potential for the Company 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 the Company; $2.0 million (the “CE Mark Contingency”) contingent on the Company’s success in obtaining CE marks under the European Medical Device Regulation (2017/745) (“MDR”) 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. The Company initially valued this additional contingent consideration in total at $2.3 million. The Company is remeasuring this valuation each quarter until the payment requirement ends, with any adjustments reported in income from operations. The Company paid the contingent payment related to the delivery of audited financial statements of the business 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 Company adjusted the portion of the liabilities related to these items 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 the Company in achieving the CE marks.

In September 2023, the Company and Anteris amended the agreement in order to (i) place a cap on the total amount of costs incurred by the Company 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.

In January 2025, the Company received the MDR CE mark approval of CardioCel and VascuCel which allows the Company to distribute their Burlington manufactured products to EU markets. As of December 31, 2024, the fair value of the CE Mark Contingency reflects the total holdback due to Anteris of $1.4 million. The payment to Anteris will be made in the first quarter of 2025.

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:

	Year ended December 31,
	2024		2023			2022
	(in thousands)
Beginning balance	$	1,224	$	1,339		$	1,492
Additions		-		-			-
Payments		-		-			-
Change in fair value included in earnings		134		(115	)		(153	)

Ending balance	$	1,358	$	1,224		$	1,339

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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-Name Accounting Standards Codification
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-Paragraph 6A
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Note 10 - Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2024			2023			2022
Dividend yield		0.63	%		1.02	%		1.06	%
Volatility		36.7	%		43.0	%		44.6	%
Risk-free interest rate		4.1	%		4.3	%		3.9	%
Weighted average expected option term (in years)		4.4			4.5			4.5
Weighted average fair value per share of options granted	$	34.99		$	20.75		$	18.10

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

				Weighted		Weighted Average		Aggregate
	Number			Average		Remaining		Intrinsic
	of Shares			Exercise Price		Contractual Term		Value
						(in years)		(in thousands)

Balance outstanding at December 31, 2021		846,754		$	33.83		4.50	$	13,888

Granted		159,275		$	47.21
Exercised		(133,963	)	$	25.80			$	3,021
Canceled / Expired		(12,091	)	$	35.53
Balance outstanding at December 31, 2022		859,975		$	37.53		4.35	$	7,878

Granted		148,115		$	54.71
Exercised		(207,643	)	$	29.72			$	5,914
Canceled / Expired		(19,323	)	$	41.55
Balance outstanding at December 31, 2023		781,124		$	42.78		4.42	$	10,924

Granted		125,834		$	101.12
Exercised		(178,064	)	$	36.16			$	7,271
Canceled / Expired		(9,458	)	$	47.06
Balance outstanding at December 31, 2024		719,436		$	54.57		4.35	$	28,160

Exercisable at:
December 31, 2022		369,593		$	32.16		3.17	$	5,223
December 31, 2023		356,519		$	36.83		3.21	$	7,107
December 31, 2024		349,981		$	41.39		3.16	$	17,760

Expected to vest at:
December 31, 2022		490,382		$	41.59		5.23	$	2,655
December 31, 2023		424,605		$	47.78		5.43	$	3,817
December 31, 2024		369,455		$	67.05		5.46	$	10,400

Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

				Weighted
				Average
	Number			Grant Date
	of Shares			Fair Value

Balance outstanding at December 31, 2021		133,831		$	38.26

Granted		51,031		$	47.11
Vested		(45,489	)	$	35.75
Canceled		(6,229	)	$	40.79

Balance outstanding at December 31, 2022		133,144		$	42.38

Granted		48,225		$	54.68
Vested		(49,400	)	$	39.31
Canceled		(5,975	)	$	42.89

Balance outstanding at December 31, 2023		125,994		$	48.20

Granted		33,851		$	100.37
Vested		(49,521	)	$	46.49
Canceled		(4,186	)	$	49.51

Balance outstanding at December 31, 2024		106,138		$	65.28

Share-Based Payment Arrangement, Performance Shares, Activity [Table Text Block]

				Weighted
				Average
	Number			Grant Date
	of Shares			Fair Value

Balance outstanding at December 31, 2021		31,181		$	48.60

Granted		28,830		$	47.13
Vested		-		$	-
Canceled		(31,538	)	$	48.53

Balance outstanding at December 31, 2022		28,473		$	47.19

Granted		26,883		$	54.65
Vested		-		$	-
Canceled		(1,192	)	$	47.19

Balance outstanding at December 31, 2023		54,164		$	50.85

Granted		21,180		$	100.79
Vested		(14,266	)	$	47.23
Canceled		(1,148	)	$	52.54

Balance outstanding at December 31, 2024		59,930		$	69.15

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

	2024		2023		2022
			(in thousands)
Stock option awards	$	2,996	$	2,705	$	2,487
Restricted stock units		2,307		1,951		1,654
Performance-based restricted stock units		1,265		663		32

Total stock-based compensation	$	6,568	$	5,319	$	4,173

	2024		2023		2022
			(in thousands)
Cost of sales	$	927	$	686	$	494
Sales and marketing		1,104		966		771
General and administrative		3,866		3,143		2,500
Research and development		671		524		408

Total stock-based compensation	$	6,568	$	5,319	$	4,173

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
November 21, 2024	December 5, 2024	$	0.16	$	3,600

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

Performance-based Restricted Stock Units [Member]

Notes Tables

Accelerated Share Repurchases [Table Text Block]

	2024

Shares of common stock repurchased for net settlement of equity awards		2,041
Average per share repurchase price	$	70.55
Aggregate purchase price (in thousands)	$	144

Restricted Stock Units (RSUs) [Member]

Notes Tables

Accelerated Share Repurchases [Table Text Block]

	2024		2023		2022

Shares of common stock repurchased for net settlement of equity awards		17,272		15,917		13,690
Average per share repurchase price	$	91.25	$	53.59	$	46.90
Aggregate purchase price (in thousands)	$	1,576	$	853	$	642

Note 8 - Commitments and Contingencies (Details Textual) $ in Millions	Dec. 31, 2024 USD ($)
Purchase Obligation	$ 17.5

Note 4 - Property and Equipment - Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Depreciation expense	$ 3,823	$ 3,423	$ 3,250

Note 8 - Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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	Artegraft biologic business		16,732	October 2029
Burlington, MA	US distribution		12,878	December 2030
Fox River Grove, IL	RestoreFlow allografts business		9,754	December 2026
Fox River Grove, IL	RestoreFlow allografts business		4,878	November 2025
Vaughn, Canada	Canada sales office and distribution		3,192	February 2026

Europe, Middle East and Africa
Sulzbach, Germany	European headquarters and distribution		21,410	June 2031
Milan, Italy	Italy sales office and distribution		5,705	September 2027
Hereford, England	United Kingdom sales office and distribution		3,575	October 2029
Maisons-Alfort, France	France sales office		3,492	February 2030
Zurich, Switzerland	Switzerland sales office and distribution		2,935	February 2030
Madrid, Spain	Spain sales office		2,260	June 2029

Asia Pacific
Tokyo, Japan	Japan sales office and distribution		4,236	July 2025
Shanghai, China	China sales office and distribution		3,432	October 2027
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

	Year ended			Year ended
	December 31,			December 31,
	2024			2023
	(in thousands)			(in thousands)

Lease cost
Operating lease cost	$	2,895		$	2,420
Short-term lease cost		80			378
Total lease cost	$	2,975		$	2,798

Other information
Cash paid for amounts included in the measurement of operating lease liabilities	$	3,991		$	3,139

Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,637		$	4,813


Weighted average remaining lease term - operating leases (in years)		6.5			7.3

Weighted average discount rate - operating leases		6.63	%		6.57	%

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

Year ending December 31,
2025	$	3,775
2026		3,204
2027		2,731
2028		2,608
2029		2,555
Thereafter		8,524
Adjustment to net present value as of December 31, 2024		(5,484	)

Minimum noncancelable lease liability	$	17,913

Note 10 - Stockholders' Equity - Summary of PSU Repurchases (Details) - Performance-based Restricted Stock Units [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Stock Repurchased During Period, Shares (in shares) \| shares	2,041
Share-Based Compensation Arrangement by Share-Based Payment Award, Per Share Weighted Average Price of Shares Purchased (in dollars per share) \| $ / shares	$ 70.55
Stock Repurchased During Period, Value \| $	$ 144

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Insider Trading Arr Line Items
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 13 - Fair Value Measurements - Rollforward of the Fair Value as Determined by Level 3 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Beginning balance	$ 1,224	$ 1,339	$ 1,492
Additions	0	0	0
Payments	$ 0	0	0
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (loss), net
Change in fair value included in earnings	$ 134	(115)	(153)
Ending balance	$ 1,358	$ 1,224	$ 1,339

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 219,863	$ 193,484	$ 161,651
Cost of sales	68,962	66,435	56,755
Gross profit	150,901	127,049	104,896
Sales and marketing	46,737	41,054	32,921
General and administrative	36,258	31,832	28,745
Research and development	15,650	16,966	13,294
Restructuring	0	485	3,107
Total operating expenses	98,645	90,337	78,067
Income from operations	52,256	36,712	26,829
Other income (expense):
Interest income	4,949	3,077	986
Interest expense	(205)	0	0
Other income (loss), net	(125)	(314)	(325)
Income before income taxes	56,875	39,475	27,490
Provision for income taxes	12,837	9,370	6,854
Net income	$ 44,038	$ 30,105	$ 20,636
Earnings per share of common stock:
Basic (in dollars per share)	$ 1.96	$ 1.36	$ 0.94
Diluted (in dollars per share)	$ 1.93	$ 1.34	$ 0.93
Weighted-average shares outstanding:
Basic (in shares)	22,452	22,217	21,975
Diluted (in shares)	22,779	22,423	22,171
Cash dividends declared per common share (in dollars per share)	$ 0.64	$ 0.56	$ 0.5

Note 1 - Significant Accounting Policies and Related Matters - Summary of Advertising Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Advertising expense	$ 330	$ 240	$ 195

Note 1 - Significant Accounting Policies and Related Matters (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2023 USD ($)
Number of Operating Segments	1
Accounts Receivable, after Allowance for Credit Loss				$ 22,000
Accounts Receivable, after Allowance for Credit Loss, Current	$ 30,063	$ 25,064
Marketable Security, Unrealized Gain (Loss)	1,000	1,200
Goodwill, Impairment Loss	0	0	$ 0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	$ 0	$ 0
ITALY
Accounts Receivable, after Allowance for Credit Loss, Current	1,100
SPAIN
Accounts Receivable, after Allowance for Credit Loss, Current	900
FRANCE
Accounts Receivable, after Allowance for Credit Loss, Current	1,800
Geographic Distribution, Foreign [Member]
Cash, Ending Balance	$ 10,900
Minimum [Member]
Period of Payments Received from Customers (Day)	30 days
Finite-Lived Intangible Asset, Useful Life	2 years
Maximum [Member]
Period of Payments Received from Customers (Day)	60 days
Finite-Lived Intangible Asset, Useful Life	16 years

Note 3 - Inventory and Other Deferred Costs - Summary of Inventories and Other Deferred Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Raw materials	$ 19,109	$ 18,333
Work-in-process	2,157	2,869
Finished products	34,676	31,131
Other deferred costs	8,985	5,747
Total inventory and other deferred costs	$ 64,927	$ 58,080

Note 13 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	Year ended December 31,
	2024		2023			2022
	(in thousands)
Beginning balance	$	1,224	$	1,339		$	1,492
Additions		-		-			-
Payments		-		-			-
Change in fair value included in earnings		134		(115	)		(153	)

Ending balance	$	1,358	$	1,224		$	1,339

Note 10 - Stockholders' Equity - Summary of RSU Repurchases (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shares of common stock repurchased for net settlement of equity awards (in shares)	17,272	15,917	13,690
Average per share repurchase price (in dollars per share)	$ 91.25	$ 53.59	$ 46.9
Aggregate purchase price (in thousands)	$ 1,576	$ 853	$ 642

- Definition

+ References + Details

- Definition

+ References + Details

Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

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

	Year ended December 31,
	2024			2023			2022
	(in thousands)
Beginning balance	$	(4,625	)	$	(6,031	)	$	(3,435	)

Other comprehensive income (loss) before reclassifications		(1,559	)		1,406			(2,596	)
Amounts reclassified from accumulated other comprehensive loss		-			-			-

Ending Balance	$	(6,184	)	$	(4,625	)	$	(6,031	)

Note 5 - Other Intangibles (Details Textual)	Dec. 31, 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	8 years 6 months