LMAT on Nasdaq

LEMAITRE VASCULAR INC

In its 2026 annual report the company says: “We are a global provider of medical devices and human tissue cryopreservation services largely used in the treatment of peripheral vascular disease, end-stage renal disease, and cardiovascular disease. We develop, manufacture, and market vascular devices to address the needs of vascular surgeons and, to a lesser degree, other specialties such as cardiac surgeons, general surgeons, and neurosurgeons. Our diversified portfolio of devices consists of brand name products that are used in arteries and veins and are well known to vascular surgeons.”5 It is headquartered in Burlington, Massachusetts.1 Its shares trade on Nasdaq under the symbol LMAT.1

$83.86 up 1.24 (1.50%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

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  • TickerLMAT on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersBurlington, Massachusetts1
  • Business address63 Second Avenue, Burlington, Ma 018033
  • Filer categoryLarge accelerated filer3

We are a global provider of medical devices and human tissue cryopreservation services largely used in the treatment of peripheral vascular disease, end-stage renal disease, and cardiovascular disease. We develop, manufacture, and market vascular devices to address the needs of vascular surgeons and, to a lesser degree, other specialties such as cardiac surgeons, general surgeons, and neurosurgeons. Our diversified portfolio of devices consists of brand name products that are used in arteries and veins and are well known to vascular surgeons. Our principal product offerings are sold globally, primarily in the United States, Europe, Canada and Asia Pacific. We estimate that the annual worldwide market for peripheral vascular devices exceeds $9 billion, within which we estimate that the market for our products is approximately $1 billion.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

71.5%Gross margin6
27.2%Operating margin6
23.1%Net margin6
13.5%Revenue growth, 20256
14.7%Return on equity6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 42% of the revenue LEMAITRE VASCULAR INC broke down this way in fiscal 2025.

  1. United States$141.6M642%up 10% from 2024
  2. EMEA$73.1M622%up 22% from 2024
  3. Other Countries$61.7M618%up 18% from 2024
  4. Germany$17.9M65%up 24% from 2024
  5. Asia Pacific$16.8M65%up 10% from 2024
  6. Canada$15.3M64%up 12% from 2024
  7. United Kingdom$13.2M64%up 21% from 2024
Regions by year
Regions202320242025
United States$117.8M$128.7M$141.6M
EMEA$51.1M$60.0M$73.1M
Other Countries$42.9M$52.1M$61.7M
Germany$13.4M$14.4M$17.9M
Asia Pacific$12.1M$15.3M$16.8M
Canada$10.8M$13.7M$15.3M
United Kingdom$8.6M$11.0M$13.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue28¢$71.1M
  • Research and development6¢$14.1M
  • Other costs34¢$84.0M
  • Interest2¢$5.2M
  • Income tax7¢$17.4M
  • Profit23¢$57.7M

Out of $249.6M in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid22¢$18.1M
  • Share buybacks2¢$1.8M
  • Kept or used elsewhere75¢$61.3M

Out of $81.3M of cash from operations.6

Financial statements

Revenue789106$249.6M in 2025+113% since 2019
0$100.0M$200.0M$300.0M2019: $117.2M$117.2M20192020: $129.4M$129.4M2020+10%2021: $154.4M$154.4M2021+19%2022: $161.7M$161.7M2022+5%2023: $193.5M$193.5M2023+20%2024: $219.9M$219.9M2024+14%2025: $249.6M$249.6M2025+14%
Gross profit8119106$178.5M in 2025+124% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $79.9M$79.9M20192020: $84.6M$84.6M2020+6%2021: $101.4M$101.4M2021+20%2022: $104.9M$104.9M2022+3%2023: $127.0M$127.0M2023+21%2024: $150.9M$150.9M2024+19%2025: $178.5M$178.5M2025+18%
Operating income8119106$67.9M in 2025+221% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $21.2M$21.2M20192020: $28.8M$28.8M2020+36%2021: $36.4M$36.4M2021+27%2022: $26.8M$26.8M2022−26%2023: $36.7M$36.7M2023+37%2024: $52.3M$52.3M2024+42%2025: $67.9M$67.9M2025+30%
Net income8119106$57.7M in 2025+222% since 2019
0$20.0M$40.0M$60.0M2019: $17.9M$17.9M20192020: $21.2M$21.2M2020+18%2021: $26.9M$26.9M2021+27%2022: $20.6M$20.6M2022−23%2023: $30.1M$30.1M2023+46%2024: $44.0M$44.0M2024+46%2025: $57.7M$57.7M2025+31%

Every line of the income statement as filed: the last 4 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-312022-12-31
Net sales$249.6M$219.9M$193.5M
Cost of sales$71.1M$69.0M$66.4M
Gross profit$178.5M$150.9M$127.0M
Sales and marketing$54.5M$46.7M$41.1M
General and administrative$42.0M$36.3M$31.8M
Research and development$14.1M$15.7M$17.0M
Restructuring$0$0$485.0K$3.1M
Total operating expenses$110.6M$98.6M$90.3M
Income from operations$67.9M$52.3M$36.7M
Investment income$13.1M$4.9M$3.1M
Interest expense-$5.2M-$205.0K
Other income (loss), net-$638.0K-$125.0K-$314.0K
Income before income taxes$75.2M$56.9M$39.5M
Provision for income taxes$17.4M$12.8M$9.4M
Net income$57.7M$44.0M$30.1M
Basic (in dollars per share)$2.55$1.96$1.36
Diluted (in dollars per share)$2.52$1.93$1.34
Basic (in shares)22.6M shares22.5M shares22.2M shares
Diluted (in shares)22.9M shares22.8M shares22.4M shares
Cash dividends declared per common share (in dollars per share)$0.80$0.64$0.56

Compare LEMAITRE VASCULAR INC with another company

Corporate structure

LEMAITRE VASCULAR INC sits at the top of its group. 13 entities, 10 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LEMAITRE VASCULAR INC

  • FIRST TRUST PORTFOLIOS LP Filed SCHEDULE 13G on LEMAITRE VASCULAR INC, latest Jul 27, 2026
  • George W. Lemaitre Filed SCHEDULE 13G/A on LEMAITRE VASCULAR INC, latest May 14, 2026 (6 filings since Feb 11, 2022)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on LEMAITRE VASCULAR INC, latest Mar 27, 2026 (4 filings since Feb 10, 2022)
  • Conestoga Capital Advisors, LLC Filed SCHEDULE 13G/A on LEMAITRE VASCULAR INC, latest Jan 9, 2026 (5 filings since Jan 10, 2022)
  • BlackRock Filed SCHEDULE 13G/A on LEMAITRE VASCULAR INC, latest Apr 29, 2025 (8 filings since Jan 28, 2022)
  • Copeland Capital Management, LLC Filed SCHEDULE 13G on LEMAITRE VASCULAR INC, latest Jan 24, 2025 (5 filings since Jan 26, 2022)
  • LEMAITRE VASCULAR INC Burlington, Massachusetts
    • Bio Nova Holdings Pty Ltd Subsidiary · Australia
    • Bio Nova International Pty Ltd Subsidiary · Australia
    • LeMaitre Acquisition LLC Subsidiary · Delaware, United States
    • LeMaitre Cardial SAS Subsidiary · France
    • LeMaitre Co., Ltd Subsidiary · Thailand
    • LeMaitre Ireland Ltd Subsidiary · Ireland
    • LeMaitre Medical Technology (Shanghai) Co., Ltd Subsidiary · China
    • LeMaitre Vascular GK Subsidiary · Japan
    • LeMaitre Vascular S.r.l. Subsidiary · Italy
    • LeMaitre Vascular Spain, S.L. Subsidiary · Spain
    • LeMaitre Vascular Switzerland GmbH Subsidiary · Switzerland
    • Vascutech Acquisition LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What LEMAITRE VASCULAR INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$5.1M10 Dec 31, 2024$3.6M10 Dec 31, 2023+41.5%
Property and equipment, before depreciation$55.4M6 Dec 31, 2025$49.0M6 Dec 31, 2024+13.0%
Accumulated depreciation$28.4M6 Dec 31, 2025$24.2M6 Dec 31, 2024+17.3%
Property and equipment, net$27.0M6 Dec 31, 2025$24.8M6 Dec 31, 2024+8.9%
Operating-lease assets (leased space)$15.8M6 Dec 31, 2025$16.8M6 Dec 31, 2024−6.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$28.2M6 Dec 31, 2025$25.6M6 Dec 31, 2024+10.3%
Marketable securities, current$330.9M6 Dec 31, 2025$274.1M6 Dec 31, 2024+20.7%
Debt securities available for sale$273.3M6 Dec 31, 2025

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$65.9M6 Dec 31, 2025$65.9M6 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$33.1M6 Dec 31, 2025$35.8M6 Dec 31, 2024−7.6%
Finite-lived intangibles, gross$74.9M6 Dec 31, 2025$72.0M6 Dec 31, 2024+4.0%
Accumulated amortization$41.8M6 Dec 31, 2025$36.2M6 Dec 31, 2024+15.6%

Inventory

ItemLatestA year beforeChange
Raw materials$20.9M6 Dec 31, 2025$19.1M6 Dec 31, 2024+9.3%
Work in process$2.9M6 Dec 31, 2025$2.2M6 Dec 31, 2024+35.5%
Finished goods$34.4M6 Dec 31, 2025$34.7M6 Dec 31, 2024−0.7%

Properties, in its own words

As of December 31, 2025, our principal worldwide executive, distribution, and manufacturing operations are located at five leased facilities with square footage totaling 109,354 in Burlington, Massachusetts. Four of the five Burlington leases

expire in December 2034 and the fifth lease expires December 2030. We have no negotiated option to extend or renew the four leases beyond December 2034.

The rest of Item 2

In June 2025, the Company executed a new building lease agreement in Billerica, Massachusetts for U.S. distribution. The 34,400 square foot building lease commenced on January 1, 2026, with a primary term through December 31, 2032. The Company has the option to renew the primary term of the lease for one additional 24-month period.

Our European operations are headquartered at a 21,410 square foot leased facility located in Sulzbach, Germany, with a lease expiring in June 2031. Our Asia Pacific operations are headquartered at a 1,270 square foot leased facility located in Singapore, with a lease expiring in June 2026. We also lease additional manufacturing, processing, distribution, and sales offices in other North America, Europe, and Asia Pacific locations. Based on our current operating plans, we believe our current facilities are adequate for our needs.

Item 2 of the 10-K filed Feb 26, 2026.5

Leadership

Who has led LEMAITRE VASCULAR INC, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (24)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Bio Nova Holdings Pty Ltd Australia4
  • Bio Nova International Pty Ltd Australia4
  • LeMaitre Acquisition LLC Delaware4
  • LeMaitre Acquisition Pty Ltd Australia4
  • LeMaitre Cardial SAS France4
  • LeMaitre Co., Ltd Thailand4
  • LeMaitre Ireland Ltd Ireland4
  • LeMaitre Medical Technology (Shanghai) Co., Ltd China4
  • LeMaitre Pte Ltd Singapore4
  • LeMaitre Vascular AS Norway4
  • LeMaitre Vascular GK Japan4
  • LeMaitre Vascular GmbH Germany4
  • LeMaitre Vascular Pty Ltd Australia4
  • LeMaitre Vascular S.r.l. Italy4
  • LeMaitre Vascular SAS France4
  • LeMaitre Vascular Spain, S.L. Spain4
  • LeMaitre Vascular Switzerland GmbH Switzerland4
  • LeMaitre Vascular ULC Canada4
  • LeMaitre Vascular, Ltd United Kingdom4
  • Vascutech Acquisition LLC Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 15, 20268-K Executive or director change42
  2. Aug 4, 20268-K Results of operations43
  3. Jun 5, 20268-K Shareholder vote44
  4. May 5, 20268-K Results of operations45
  5. Apr 14, 20268-K Executive or director change; Other events46
  6. Feb 25, 20268-K Results of operations47
  7. Nov 7, 20258-K Shareholder vote48
  8. Nov 6, 20258-K Results of operations49
  9. Aug 5, 20258-K Results of operations50
  10. Jun 3, 20258-K Shareholder vote51
  11. May 1, 20258-K Results of operations52
  12. Feb 27, 20258-K Results of operations53
  13. Oct 18, 2006New chief executive George W. Lemaitre becomes CEO14

Calendar

Coming up

  1. Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.62 a share, on Nov 6, 2025.54

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results43
  2. May 5, 2026Reported quarterly or annual results45
  3. Feb 25, 2026Reported quarterly or annual results47
  4. Nov 6, 2025Reported quarterly or annual results49
  5. Aug 5, 2025Reported quarterly or annual results50
  6. May 1, 2025Reported quarterly or annual results52
  7. Feb 27, 2025Reported quarterly or annual results53
  8. Oct 31, 2024Reported quarterly or annual results55

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

569 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 35 major events, 424 insider forms, 29 large holders, 61 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Sep 8, 20264 EDGAR
  3. Sep 8, 20264 EDGAR
  4. Sep 8, 20264 EDGAR
  5. Sep 8, 20264 EDGAR
  6. Sep 8, 20264 EDGAR
  7. Sep 8, 20264 EDGAR
  8. Sep 8, 20264 EDGAR
  9. Sep 8, 20264 EDGAR
  10. Sep 8, 20264 EDGAR
  11. Sep 3, 20264 EDGAR
  12. Aug 5, 202610-Q EDGAR
  13. Aug 4, 20268-K EDGAR
  14. Jul 29, 2026144 EDGAR
  15. Jul 27, 2026SCHEDULE 13G EDGAR
  16. Jun 5, 20264 EDGAR
  17. Jun 5, 20264 EDGAR
  18. Jun 5, 20264 EDGAR
  19. Jun 5, 20264 EDGAR
  20. Jun 5, 20264 EDGAR

The 569 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

74 open-market trades by officers, directors and large owners since October 2021: 0 buys and 74 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 8, 2026LeMaitre George WChairman and CEOSale27,881$108.69$3.0MForm 4
May 8, 2026Kamke Trent GSenior V. P., OperationsSale2,928$107.00$313.3KForm 4
May 7, 2026LeMaitre George WChairman and CEOSale18,600$107.64$2.0MForm 4
May 7, 2026Ross Bridget ADirectorSale5,044$111.10$560.4KForm 4
May 7, 2026Jasinski Lawrence JDirectorSale3,943$110.00$433.7KForm 4
Mar 11, 2026Kamke Trent GSenior V. P., OperationsSale2,625$108.50$284.8KForm 4
Mar 11, 2026Roberts David BPresident and DirectorSale3,312$107.68$356.6KForm 4
Mar 2, 2026LeMaitre George WChairman and CEOSale55,930$107.81$6.0MForm 4
Feb 27, 2026Kamke Trent GSenior V. P., OperationsSale1,044$110.29$115.1KForm 4
Feb 27, 2026Roberts David BPresident and DirectorSale8,464$106.80$904.0KForm 4
Feb 26, 2026LeMaitre George WChairman and CEOSale150,000$106.76$16.0MForm 4
Aug 12, 2025Jasinski Lawrence JDirectorSale976$92.78$90.6KForm 4
Aug 11, 2025Roberts David BPresident and DirectorSale10,815$92.38$999.1KForm 4
Aug 11, 2025Roush John ADirectorSale6,561$92.55$607.2KForm 4
Aug 8, 2025Ross Bridget ADirectorSale2,500$94.00$235.0KForm 4
Aug 8, 2025Roush John ADirectorSale939$93.49$87.8KForm 4
Aug 6, 2025LeMaitre George WChairman and CEOSale100,000$93.51$9.4MForm 4
May 20, 2025LeMaitre George WChairman and CEOSale4,399$85.10$374.4KForm 4
May 19, 2025LeMaitre George WChairman and CEOSale76,868$85.79$6.6MForm 4
May 16, 2025LeMaitre George WChairman and CEOSale18,733$84.77$1.6MForm 4

All 74 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025George W. LeMaitre61$806.3K$3.8M62
2025David B. Roberts61$452.7K$1.3M62
2025Dorian P. LeBlanc51$445.5K$1.1M62
2025Trent G. Kamke55$383.8K$859.4K62
2025Joseph P. PellegrinoJr.61$88.8K$335.9K62
2024Chairman and Chief$622.3K$3.2M62
2024Former Chief Financial Officer$419.9K$1.3M62
2024President$406.8K$1.1M62
2024Senior VicePresident,$316.6K$859.4K62
2023Executive Officer$592.7K$2.2M62
2023President$430.3K$1.1M62
2023Former Chief Financial Officer$381.7K$1.1M62
2023Operations$301.5K$668.4K62

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,272,973$314.1M0.0%+128,822
Conestoga Capital Advisors, LLC1,367,513$131.2M2.9%−109,300
First Trust Advisors LP1,093,502$104.9M0.1%+95,431
Congress Asset Management Co963,706$92.5M0.6%+129,177
Vanguard Capital Management LLC953,437$91.5M0.0%+41,379
State Street Corp901,416$86.5M0.0%+45,632
Copeland Capital Management, LLC839,463$80.6M1.7%−31,229
Geode Capital Management, LLC788,835$75.7M0.0%+130,390
Vanguard Portfolio Management LLC604,833$58.0M0.0%+42,063
Geneva Capital Management LLC589,064$56.5M1.3%−164,928
Dimensional Fund Advisors LP493,889$47.4M0.0%+17,554
Goldman Sachs Group Inc473,194$45.4M0.0%+40,778
Invesco Ltd.448,389$43.0M0.0%+114,412
Morgan Stanley351,083$33.7M0.0%−56,688
Northern Trust Corp333,325$32.0M0.0%+20,770
Two Sigma Investments, LP316,528$30.4M0.0%+34,550
Royal Bank Of Canada308,765$29.6M0.0%+36,111
Annex Advisory Services, LLC248,253$23.8M0.4%−2,357
UBS Group AG247,804$23.8M0.0%+206,387
Envestnet Asset Management Inc244,729$23.5M0.0%−29,667
Kennedy Capital Management LLC228,934$22.0M0.4%−7,843
Kayne Anderson Rudnick Investment Management LLC220,497$21.2M0.1%−10,221
Ranger Investment Management, L.P.219,307$21.0M1.3%−19,053
Sei Investments Co206,764$19.8M0.0%+70,090
Charles Schwab Investment Management Inc206,279$19.8M0.0%+8,304

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How LEMAITRE VASCULAR INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLEMAITRE VASCULAR INC1
  • CIK0001158895
  • Employer ID (EIN)04-28254585
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address63 Second Avenue, Burlington, MA 018031
  • Phone781-221-22661
  • Shares outstanding22,869,257 as of Aug 2, 202613
  • Public float$1.7B as of Jun 30, 20255
  • AuditorGRANT THORNTON LLP, Boston, Massachusetts PCAOB ID 248; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceJul 31, 20021
  • Filings1,875 in all: 4 (1,296), 8-K (163), SC 13G/A (62), 10-Q (59), 4/A (48), 144 (44), 3 (31), SC 13G (26)1
    All 36 form types

    10-K (20), DEF 14A (20), SD (13), ARS (12), UPLOAD (9), SCHEDULE 13G/A (8), REGDEX (7), S-1/A (7), CORRESP (6), S-8 (6), 424B5 (4), 5 (4), 8-K/A (4), 10-K/A (3), 10-Q/A (3), DEFA14A (3), EFFECT (3), S-3 (2), S-8 POS (2), SCHEDULE 13G (2), 11-K (1), 3/A (1), 424B4 (1), 8-A12B (1), CERTNAS (1), CT ORDER (1), PRE 14A (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 14, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.01 par value per shareLMATThe Nasdaq Global Market

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks LEMAITRE VASCULAR INC names in Item 1A of its 10-K filed Feb 26, 2026: 34 risks under these headings, as written.5

  • Risks Related to Our Business
  • We may not be able to maintain our historic levels of profit growth.
  • If we are unable to increase our selling prices to customers, or if we are required to make price concessions, our sales growth could be reduced and our operating results could suffer.
  • We face competition from other medical device companies and alternative medical technologies, and we may not be able to compete effectively.
  • If we are unable to source, acquire and integrate new businesses, product lines, or technologies, we may not achieve our growth objectives and our results of operations could suffer.
  • Adverse global economic conditions and trade tensions could have a negative effect on our business, results of operations, and financial condition and liquidity.
  • The risks inherent in operating internationally and the risks of selling and shipping our products and of purchasing our components and products internationally may adversely impact our net sales, results of operations, and financial condition.
  • We may experience disruptions to our international business to the extent we transition our sales strategy in certain international jurisdictions from a distributor-based approach to a direct sales model.
  • Our dependence on sole- and limited-source suppliers could hinder our ability to deliver our products and services to our customers and could harm our results of operations.
  • Some of our devices are sold to a different call point, and we may not be successful in selling to that newer call point.
  • Cybersecurity breaches, loss of data and other disruptions could compromise sensitive information related to our business or prevent us from accessing critical information and expose us to liability, which could adversely affect our business and our reputation.
  • We depend on our information technology and telecommunications systems, and any failure of these systems could harm our business.
The other 23 risks
  • We may experience challenges with the ongoing implementation of our new enterprise resource planning system.
  • Our tissue processing and preservation services are subject to a variety of risks, including those related to the procurement of human tissue and regulatory requirements.
  • Any disruption in our manufacturing facilities could harm our results of operations.
  • The use or misuse of our products and the tissues we distribute may result in injuries that lead to product liability lawsuits or legal actions, which could be costly to our business.
  • From time to time, we are involved in litigation where the outcome is uncertain and which could entail significant expense.
  • If we are not able to navigate executive officer transitions and retain key personnel, our business may be harmed.
  • Risks Related to the Regulatory Environment
  • If we are not successful in obtaining additional and maintaining current clearances and approvals from U.S. governmental agencies for our medical devices, we might not be able to sell our products, and our future growth might be hampered.
  • If we or some of our suppliers fail to comply with the FDA’s Quality Management System Regulation (QMSR) and other applicable requirements, our manufacturing or processing operations could be disrupted, and we may become subject to a variety of FDA enforcement actions.
  • If we do not comply with international regulatory requirements to market our products or if we need to modify our operations or products as a result of such requirements, our business may be harmed.
  • Oversight of the medical device industry might affect the manner in which we may sell medical devices and compete in the marketplace.
  • Even after our products have received marketing approval or clearance, our products and the tissue we process may be subject to recall. Licenses, registrations, approvals, and clearances could be withdrawn or suspended due to failure to comply with regulatory standards or the occurrence of unforeseen problems following initial approval.
  • Certain of our products contain materials derived from animal sources and may become subject to additional regulation.
  • We may incur additional costs or encounter supply challenges if chemicals or substances used in the manufacture, packaging, or sterilization of our products are restricted or banned as a result of environmental concerns.
  • Our human tissue cryopreservation services are subject to a wide variety of federal, state, and international regulations, and our failure to comply would impair our ability to operate in that space and negatively affect our operating results.
  • Risks Related to Our Debt
  • Servicing our 2.50% convertible senior notes requires a significant amount of cash, and we may not have sufficient cash flow to pay our debt.
  • We may not have the ability to raise the funds necessary to repurchase the Convertible Notes as required upon a fundamental change, and our future debt may contain limitations on our ability to repurchase the Convertible Notes.
  • The conditional conversion feature of the Convertible Notes, if triggered, may adversely affect our liquidity.
  • Transactions relating to the Convertible Notes may affect the value of our common stock.
  • Risks Related to Intellectual Property
  • If we fail to adequately protect our intellectual property rights, or prevent use of our intellectual property by third parties, we could lose a significant competitive advantage and our business may suffer.
  • If third parties claim that we infringe upon their intellectual property rights, we may incur liabilities and costs, and we may have to redesign or discontinue selling the affected product.
  • Risks Related to Our Common Stock
  • Our stock price may be volatile, and an investment in our common stock could suffer a decline in value.
  • Our Chief Executive Officer and Chairman of the Board has significant voting power and may take actions that may not align with the interests of our other stockholders.
  • We have not established a minimum dividend payment level for our common stockholders and there are no assurances of our ability to pay dividends to common stockholders in the future.

Legal proceedings

In the ordinary course of business, we are from time to time involved in lawsuits, claims, investigations, proceedings, and threats of litigation consisting of intellectual property, contractual, commercial, employment, and other matters. While the outcome of these proceedings and claims cannot be predicted with certainty, there are no matters, as of December 31, 2025, that, in the opinion of management, would be reasonably expected to have a material adverse effect on our financial position, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.5

Sources

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