LeMaitre Vascular, Inc.

Welcome to the Lumate Vascular Q1 2026 Financial Results Conference Call. As a reminder to everyone, today's call is being recorded. At this time, I would like to turn the call over to Mr. Dorian LeBlanc, Chief Financial Officer of Lumate Vascular. Please go ahead, sir.

Thank you. Good afternoon, and thank you for joining us on our Q1 2026 Conference Call. With me on today's call is our CEO, George LeMaitre, and our President, Dave Roberts. Before we begin, I'll read our Safe Harbor Statement. Today we'll be making some forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, the accuracy of which is subject to risks and uncertainties. Wherever possible, we will try to identify those forward-looking statements by using words such as believe, expect, anticipate, pursue, forecast, and similar expressions. Our forward-looking statements are based on our estimates and assumptions as of today, May 5, 2026, and should not be relied upon as representing our estimates or views on any subsequent date. Please refer to the cautionary statement regarding forward-looking information and the risk factors in our most recent 10-K and subsequent SEC filings, including disclosures of factors that could cause results to differ materially from those expressed or implied. During this call, we will discuss non-GAAP financial measures, such as organic sales growth, Reconciliations of GAAP to non-GAAP measures discussed in this call are contained in the associated press release and, if applicable, in supplemental materials, both of which are available in the Investor Relations section of our website, www.lenate.com. I'll now turn the call over to George Lemaitre.

Thanks, Dorian. Q1 featured 11% sales growth, a 72.7% gross margin, and 42% EPS growth. Graphs were up 20%. Valvatone's 15%, and Karate Chunk's 11%, as each category posted record sales. Our three geographies also posted record sales. EMEA was up 20%, APAC 18%, and the Americas 7%. Artographs have become our largest product, and we're investing in its growth in three ways. Number one, filing more international approvals. Number two, making longer sizes available for leg bypasses. And number three, proving quick-stick claims for AV access. Worldwide autograph sales grew 36% in Q1. International autograph sales in Q1 were $2.1 million, and we expect 2026 sales to be $10 million versus $4 million in 2025. Health Canada has approved autographs and the launch is now planned for H22026 as we finalize Canadian-specific packaging validations. Additional autograph approvals are expected in 2027 for Korea, Brazil, Vietnam, and India. We're also working to make longer autographs available. Because European surgeons use autographs for leg bypasses, our longest autograph, which is 50 centimeters, is now in high demand, and we know we could sell longer sizes. Unfortunately, our current packaging tube is just 53 centimeters long. So the first step is to gain approval for a longer tube, and we plan to make these filings in the U.S. and Europe in H2 2026. for sales of these longer autographs could start in H2 2027. Separately, we made a pre-submission filing to the FDA as we seek QuickStick AV access claims on autographs US labeling. This pre-submission will help us collaborate with the FDA to develop the pathway for a PMA filing or to design a clinical trial. While ArtiGraph's current US labeling restricts cannulation to 10 days after implantation, peer-reviewed literature indicates that ArtiGraph can be cannulated one to three days after implantation. RFA grew 25% in Q1, led by strong US results. We currently distribute tissues in three countries, the US, Canada, and the UK. German implants should begin in Q2, and we now expect to receive Irish approval in H2. Our Irish warehouse opened in April, and we'll begin shipping our core medical devices starting in June as we await an audit from the Irish Tissue Authority. This audit should enable tissue distribution from our Dublin warehouse to Irish hospitals in H2. Long-term, this warehouse will be used for pan-European distribution. We filed for Australian approval in April, and we plan to file in Austria, Holland, Belgium, Spain, and Switzerland in 2026. As for our RFA facility transfer, tissue processing is ramping up in Burlington, and we should complete the project by year-end. We ended Q1 with 158 sales reps, up 3% year-over-year, and we plan to end 2026 with 170 to 180. We currently have 16 open requisitions for new reps, mostly in the U.S. We ended Q1 with 35 RSMs and country managers, up 13% year over year. We expect to go direct in Poland in Q4, and this project will include an office, warehouse, a GM, customer service team, and several reps. Poland will be our 32nd direct country. Higher ASPs, geographic expansion, and discipline spending produced 11% sales growth and 42% EPS growth in Q1. Full year 2026 also shows off leverage. Increased guidance implies 12% sales growth and 26% EPS growth. Our new 2030 goals are posted on the walls of all the main conference rooms. We call them the 2030 planks, and our playbook remains simple. Produce quality devices. build our sales force, go direct in new countries, acquire niche products, and focus on profitability, cash flow, and dividends. I will now turn the call over to Dorian.