HIGHBuilt-inProduct / Revenue mix
53%
biologic products
“10-K Item 1: 'Our overall portfolio of biologic offerings represented 53% of our sales in 2025'”
LMAT · Concentration risk · 10-K extracted
LeMaitre Vascular (LMAT) concentration risks
Updated
The most significant concentration LeMaitre Vascular discloses is biologic products at 53%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: LeMaitre Vascular’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH3
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inProduct / Revenue mix
open surgical procedure devices
“10-K Item 1: 'over 95% of our net sales were from devices used in open surgical procedures, including open vascular surgeries and open cardiac surgeries'”
HIGHOutside partySupplier
sole- and limited-source suppliers
“10-K Item 1A: 'We rely on sole- and limited-source suppliers ... including our VascuCel and CardioCel biologic patch, Artegraft biologic vascular graft and Omniflow'”
MEDIUMBuilt-inGeographic
43%
international net sales
“10-K Item 1A: 'For the year ended December 31, 2025, 43% of our net sales were international'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile stacks multiple high-share exposures in a way that reinforces rather than offsets one another. On the product side, over 95% of net sales were from devices used in open surgical procedures — a high-share structural concentration reflecting the company's deliberate focus on a defined surgical niche. Biologic offerings represented 53% of sales in 2025, itself a high-share sub-concentration within that procedural focus, meaning both the procedure type and the product biology category are highly concentrated simultaneously. These structural product concentrations are compounded by a supply-side dependency: the company relies on sole- and limited-source suppliers for a number of its biologic products, explicitly including VascuCel, CardioCel, Artegraft, and Omniflow — a high-share exposure. Any disruption at one of those sole or limited sources could impair availability of the very products that constitute the core of the revenue mix, creating a compounding risk between product concentration and supply chain fragility. Partially offsetting the domestic skew, international net sales represented 43% of net sales for the year ended December 31, 2025 — a moderate geographic footprint that diversifies the revenue base across markets even as the product and supply exposures remain concentrated. On balance, the most actionable risk in this profile is the intersection of biologic product dominance and sole-source supply arrangements, where a supply disruption could simultaneously affect the highest-margin segment.
For the engine’s reasoning on LMAT’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Instruments & Supplies
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| LMAT● | LeMaitre Vascular, Inc. | 3 | 1 | 0 | 4 |
| BAX | Baxter International Inc. | 1 | 2 | 0 | 3 |
| ATR | AptarGroup, Inc. | 1 | 1 | 0 | 2 |
| BDX | Becton, Dickinson and Company | 1 | 1 | 0 | 2 |
| ALGN | Align Technology, Inc. | 1 | 0 | 0 | 1 |
| AVTR | Avantor, Inc. | 1 | 0 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.