LMAT - LeMaitre slides on stock offer and preliminary Q2 2021 financials
LeMaitre Vascular ([[LMAT]] -8.3%) looks set to record its biggest one-day loss since November after the company announced a common stock offering of 1M, expecting to raise ~$54.5M in gross proceeds.Yesterday’s announcement coincided with the preliminary Q2 2021 numbers disclosed by LeMaitre for Q2 2021.Per the early data, the company expects $40.7M in net sales for the quarter, indicating ~64.7% YoY and ~35% YoY growth, on a reported and organic basis, respectively. The consensus revenue estimate stands at $38.2M in Q2 2022.The revenue growth was led by $6.7M sales from Artegraft supported by sales of valvulotomes, shunts, and allografts, according to the company.The gross margin is expected to reach ~65.5% – 66.1% with a 2.1 decline of percentage points from the previous year's quarter.The pressure on gross margin reflects the impact of “inventory write-downs as well as manufacturing inefficiencies related to personnel reductions in 2020,” LeMaitre said.The cash and equivalents estimated at $21.8M
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LeMaitre slides on stock offer and preliminary Q2 2021 financials