LeMaitre Vascular (LMAT) 10-Q 10 May 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0001158895
Entity Registrant Name	LEMAITRE VASCULAR INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-33092
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	LMAT
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		20,606,789

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 23,525	$ 26,764
Short-term marketable securities	214	214
Accounts receivable, net of allowances of $646 at March 31, 2021 and $623 at December 31, 2020	20,126	19,552
Inventory and other deferred costs	45,071	45,115
Prepaid expenses and other current assets	1,721	2,618
Total current assets	90,657	94,263
Property and equipment, net	15,200	15,036
Right-of-use leased assets	15,478	16,066
Goodwill	65,945	65,945
Other intangibles, net	57,339	58,905
Deferred tax assets	1,640	1,686
Other assets	1,110	909
Total assets	247,369	252,810
Liabilities and stockholders’ equity
Current portion of long-term debt	2,750	2,500
Revolving line of credit	0	0
Accounts payable	2,561	2,394
Accrued expenses	14,365	17,525
Acquisition-related obligations	776	772
Lease liabilities - short-term	1,848	1,954
Total current liabilities	22,300	25,145
Long-term debt, net	28,485	35,532
Lease liabilities - long-term	14,360	14,791
Deferred tax liabilities	124	127
Other long-term liabilities	4,575	4,643
Total liabilities	69,844	80,238
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 22,131,423 shares at March 31, 2021, and 22,061,554 shares at December 31, 2020	221	221
Additional paid-in capital	117,236	114,924
Retained earnings	74,221	70,554
Accumulated other comprehensive loss	(2,463)	(1,525)
Treasury stock, at cost; 1,540,813 shares at March 31, 2021 and 1,538,572 shares at December 31, 2020	(11,690)	(11,602)
Total stockholders’ equity	177,525	172,572
Total liabilities and stockholders’ equity	$ 247,369	$ 252,810

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts receivable, allowances	$ 646	$ 623
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (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)	22,131,423	22,061,554
Treasury stock, at cost (in shares)	1,540,813	1,538,572

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Sales	$ 35,883	$ 30,551
Cost of sales	12,084	10,068
Gross profit	23,799	20,483
Sales and marketing	6,466	7,945
General and administrative	6,544	5,191
Research and development	2,844	2,994
Total operating expenses	15,854	16,130
Income from operations	7,945	4,353
Other income (expense):
Interest income	1	105
Interest expense	(577)	0
Foreign currency gain (loss)	124	(178)
Income before income taxes	7,493	4,280
Provision for income taxes	1,564	1,106
Net income	$ 5,929	$ 3,174
Earnings per share of common stock:
Basic (in dollars per share)	$ 0.29	$ 0.16
Diluted (in dollars per share)	$ 0.28	$ 0.16
Weighted-average shares outstanding:
Basic (in shares)	20,546	20,168
Diluted (in shares)	20,847	20,438
Cash dividends declared per common share (in dollars per share)	$ 0.110	$ 0.095

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 5,929	$ 3,174
Other comprehensive income (loss):
Foreign currency translation adjustment, net	(937)	(1,208)
Unrealized gain (loss) on short-term marketable securities	(1)	(310)
Total other comprehensive income (loss)	(938)	(1,518)
Comprehensive income	$ 4,991	$ 1,656

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2019	21,678,927				1,522,035
Balance at Dec. 31, 2019	$ 217	$ 105,934	$ 57,029	$ (4,007)	$ (11,032)	$ 148,141
Net income			3,174			3,174
Other comprehensive income (loss)				(1,518)		(1,518)
Issuance of common stock for stock options exercised (in shares)	19,141
Issuance of common stock for stock options exercised	$ 0	233				233
Vested restricted stock units (in shares)	4,074
Vested restricted stock units	$ 0	0				0
Repurchase of common stock for net settlement of equity awards (in shares)					1,601
Repurchase of common stock for net settlement of equity awards					$ (57)	(57)
Stock-based compensation expense		779				779
Common stock dividend accrued			(1,917)			(1,917)
Balance (in shares) at Mar. 31, 2020	21,702,142				1,523,636
Balance at Mar. 31, 2020	$ 217	106,946	58,286	(5,525)	$ (11,089)	148,835
Balance (in shares) at Dec. 31, 2020	22,061,554				1,538,572
Balance at Dec. 31, 2020	$ 221	114,924	70,554	(1,525)	$ (11,602)	172,572
Net income			5,929			5,929
Other comprehensive income (loss)				(938)		(938)
Issuance of common stock for stock options exercised (in shares)	63,895
Issuance of common stock for stock options exercised	$ 0	1,385				1,385
Vested restricted stock units (in shares)	5,974
Vested restricted stock units	$ 0					0
Repurchase of common stock for net settlement of equity awards (in shares)					2,241
Repurchase of common stock for net settlement of equity awards					$ (88)	(88)
Stock-based compensation expense		927				927
Common stock dividend accrued			(2,262)			(2,262)
Balance (in shares) at Mar. 31, 2021	22,131,423				1,540,813
Balance at Mar. 31, 2021	$ 221	$ 117,236	$ 74,221	$ (2,463)	$ (11,690)	$ 177,525

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net income	$ 5,929	$ 3,174
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,624	1,538
Stock-based compensation	927	779
Fair value adjustment to contingent consideration obligations	47	64
Provision for doubtful accounts	59	71
Provision for inventory write-downs	1,005	196
Foreign currency transaction loss	33	208
Changes in operating assets and liabilities:
Accounts receivable	(857)	(368)
Inventory and other deferred costs	(1,346)	(1,861)
Prepaid expenses and other assets	638	659
Accounts payable and other liabilities	(2,985)	(3,271)
Net cash provided by operating activities	6,074	1,189
Investing activities
Purchases of property and equipment and other assets	(1,059)	(863)
Purchases of short-term marketable securities	(1)	(2,103)
Sales of short-term marketable securities	0	3,000
Payments related to acquisitions	0	(59)
Net cash used in investing activities	(1,060)	(25)
Financing activities
Payments of long-term debt	(7,000)	0
Proceeds from stock option exercises	1,385	233
Purchase of treasury stock for net settlement of equity awards	(88)	(57)
Common stock cash dividend paid	(2,262)	(1,917)
Net cash used in financing activities	(7,965)	(1,741)
Effect of exchange rate changes on cash and cash equivalents	(288)	(265)
Net decrease in cash and cash equivalents	(3,239)	(842)
Cash and cash equivalents at beginning of period	26,764	11,786
Cash and cash equivalents at end of period	$ 23,525	$ 10,944

Note 1 - Organization and Basis

Note 1 - Organization and Basis for Presentation	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Description of Business Unless the context requires otherwise, references to LeMaitre Vascular, we, our, and us refer to LeMaitre Vascular, Inc. and our subsidiaries. We develop, manufacture, and market medical devices and implants used primarily in the field of vascular surgery. We also derive revenues from the processing and cryopreservation of human tissues for implantation in patients. We operate in a single segment in which our principal product lines include the following: anastomotic clips, angioscopes, biologic vascular and dialysis grafts, biologic vascular and cardiac patches, carotid shunts, embolectomy catheters, occlusion catheters, powered phlebectomy devices, radiopaque marking tape, remote endarterectomy devices, surgical glue, synthetic vascular grafts and valvulotomes. Our offices and production facilities are located in Burlington, Massachusetts; Fox River Grove, Illinois; North Brunswick, New Jersey; Chandler, Arizona; Vaughan, Canada; Sulzbach, Germany; Milan, Italy; Madrid, Spain; Saint-Etienne, France; Hereford, England; Kensington, Australia; Tokyo, Japan; Shanghai, China; and Singapore. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10 10 X. not may three March 31, 2021 not December 31, 2020, 10 March 12, 2021. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes to unaudited consolidated financial statements. Due to the COVID- 19 19 not May 10, 2021, 10 Consolidation Our consolidated financial statements include the accounts of LeMaitre Vascular and the accounts of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Revenue Recognition Our revenue is derived primarily from the sale of disposable or implantable devices used during vascular surgery. We sell primarily directly to hospitals and to a lesser extent to distributors, as described below, and, during the periods presented in our consolidated financial statements, entered into consigned inventory arrangements with either hospitals or distributors on a limited basis. We also derive 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. We record revenue under the provisions of ASU 2014 09, 606 606 Step 1: Step 2: Step 3: Step 4: Step 5: 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), we have made the policy election allowed under Topic 606 not We generally reference customer purchase orders to determine the existence of a contract. Orders that are not one not We recognize 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 we have 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 our customers, and at which LeMaitre Vascular has a present right to receive payment for the goods. Below is a disaggregation of our revenue by major geographic area, which is among the primary categorizations used by management in evaluating financial performance, for the periods indicated (in thousands): Three months ended March 31, 2021 2020 ($ in thousands) Americas $ 23,699 $ 18,336 Europe, Middle East and Africa 9,862 10,350 Asia/Pacific Rim 2,322 1,865 Total $ 35,883 $ 30,551 We do not no not no Customers returning products may 18 twelve 30 not not Recent Accounting Pronouncements In December 2019, 2019 12 740 740, 740. January 1, 2021. not

Note 2 - Income Tax Expense

Note 2 - Income Tax Expense	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	2. As part of the process of preparing our consolidated financial statements we are required to determine our income taxes in each of the jurisdictions in which we operate. This process involves estimating our actual current tax expense together with assessing temporary differences resulting from recognition of items for income tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheet. We must then assess the likelihood that our deferred tax assets will be recovered from taxable income during the carryback period or in the future; and to the extent we believe that recovery is not not, not We recognize, measure, present and disclose in our financial statements any uncertain tax positions that we have taken, or expect to take on a tax return. We operate in multiple taxing jurisdictions, both within and without the United States, and may Our policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense. Our 2021 2020 We have reviewed the tax positions taken, or to be taken, in our tax returns for all tax years currently open to examination by a taxing authority. As of March 31, 2021, 2028. Three months ended March 31, 2021 (in thousands) Unrecognized tax benefits as of December 31, 2020 $ 820 Additions for tax positions of current year - Additions for tax positions of prior years (31 ) Reductions for settlements with taxing authorities - Reductions for lapses of the applicable statutes of limitations - Unrecognized tax benefits as of March 31, 2021 $ 789 As of March 31, 2021, United States 2016 Foreign 2014

Note 3 - Inventories and Other

Note 3 - Inventories and Other Deferred Costs	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Inventory and Other Deferred Costs Disclosure [Text Block]	3. Inventories and other deferred costs consist of the following: March 31, 2021 December 31, 2020 (in thousands) Raw materials $ 5,168 $ 5,044 Work-in-process 7,586 6,004 Finished products 26,483 28,117 Other deferred costs 5,834 5,950 Total inventory and other deferred costs $ 45,071 $ 45,115 We had inventory on consignment at customer sites of $1.9 million and $2.1 million at March 31, 2021 December 31, 2020, Other deferred costs relate to our RestoreFlow allograft offering and 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 U.S. federal law, human tissues cannot be bought or sold. Therefore, the vascular and cardiac tissues we preserve are not

Note 4 - Acquisitions

Note 4 - Acquisitions	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	4. Our acquisitions are accounted for using the acquisition method, and the acquired companies’ results have been included in the accompanying consolidated financial statements from their respective dates of acquisition. In each case for the acquisitions disclosed below, pro forma information assuming the acquisition had occurred at the beginning of the earliest period presented is not Our acquisitions have historically been made at prices above the fair value of the acquired identifiable assets, resulting in goodwill, due to expectations of synergies that will be realized by combining businesses. These synergies include the use of our existing sales channel to expand sales of the acquired businesses’ products and services, consolidation of manufacturing facilities, and the leveraging of our existing administrative infrastructure. The fair market valuations associated with these transactions fall within Level 3 3 14 Artegraft Biologic Grafts On June 22, 2020, December 31, 2021 Three earn-out payments of $5,833,333 ● $5.8 million upon final determination that 20,000 units of Product have been sold to third January 1, 2021 December 31, 2021; ● $5.8 million upon final determination that 24,000 units of Product have been sold to third January 1, 2022 December 31, 2022; ● $5.8 million upon final determination that 28,800 units of Product have been sold to third January 1, 2023 December 31, 2023. The Artegraft APA includes a catch-up feature on the earn-outs such that, at the end of the three three three On the date of acquisition, the Company allocated the consideration given to the individual assets acquired and the liabilities assumed based on a preliminary estimate of their fair values. During the three September 30, 2020, Allocated Fair Value (in thousands) Inventory $ 3,859 Accounts receivable 1,789 Equipment and supplies 1,140 Accounts payable and other (53 ) Intangible assets 39,056 Goodwill 27,115 Purchase price $ 72,906 The goodwill results from expected synergies of combining the acquired products and customer information to our existing operations, and is deductible for tax purposes over 15 years. The following table reflects the allocation of purchase consideration to the acquired intangible assets and related estimated useful lives: Allocated Estimated Fair Value Useful Life (in years) (in thousands) Customer relationships $ 20,310 15.0 Intellectual property 16,449 10.0 Non-compete agreement 104 5.0 Tradenames 2,193 10.0 Total intangible assets $ 39,056 The weighted-average amortization period of the acquired intangible assets was 12.6 years. The results of operations of the Artegraft biologic graft business have been included in the results of operations of LeMaitre since the date of acquisition of June 22, 2020. three March 31, 2020 2020. not 2020, Unaudited Pro Forma Financial Information Three months ended March 31, 2020 ($ in thousands) Net sales $ 34,797 Net income 2,625 Net income per share Basic $ 0.13 Diluted $ 0.13 CardioCel and VascuCel Biologic Patches On October 11, 2019 ( three Under the Admedus APA we agreed to pay Admedus a total of up to $15.3 million for the purchase of substantially all of its biologic patch business assets, other than specifically identified excluded assets, plus $8.0 million for the technology license. The acquired assets (in combination with the license) included inventory, intellectual property, permits and approvals, data and records, and customer and supplier information, as well as a small amount of machinery and equipment. At closing, $14.2 million of the purchase price was paid to Admedus. Shortly thereafter another $0.3 million was paid in connection with delivery of audited financial statements of the acquired business to LeMaitre. Additional payments of $0.7 million are due within 15 first third first October 2020. may ● $2.0 million within 15 ● $2.5 million if revenues in the first 12 $20 first 12 $15 not no ● $2.5 million if revenues in the second 12 $30 second 12 $22.5 ● $0.5 million if by the first 36 60 not no This contingent consideration of $7.5 million was initially valued in total at $2.0 million and is being re-measured each reporting period until the payment requirement ends, with any adjustments reported in income from operations. During the quarter ended September 30, 2020, Allocated Fair Value (in thousands) Inventory and other $ 1,343 Intangible assets 8,725 Goodwill 7,344 Purchase price $ 17,412 The goodwill results from expected synergies of combining the acquired products and customer information to our existing operations, and is deductible for tax purposes over 15 The following table reflects the allocation of purchase consideration to the acquired intangible assets and related estimated useful lives: Weighted Allocated Average Fair Value Useful Life (in years) (in thousands) Customer relationships $ 5,562 12.0 Intellectual property 2,335 8.0 Non-compete agreement 361 5.0 Tradenames 467 8.0 Total intangible assets $ 8,725 The weighted-average amortization period of the acquired intangible assets was 10.4 years. Tru-Incise Valve Cutter On July 12, 2019, The purchase price for the acquired assets, which included inventory, machinery and equipment, intellectual property, and customer and supplier information, was $8.0 million. Of this amount, $6.8 million was paid at closing, with three second third no may first July 2020. The following table summarizes the purchase price allocation: Allocated Fair Value (in thousands) Inventory $ 276 Equipmentand supplies 70 Intangible assets 4,844 Goodwill 2,748 Purchase price $ 7,938 The goodwill results from expected synergies of combining the acquired products and customer information to our existing operations, and is deductible for tax purposes over 15 The following table reflects the allocation of purchase consideration to the acquired intangible assets and related estimated useful lives: Weighted Allocated Average Fair Value Useful Life (in years) (in thousands) Customer relationships $ 3,945 13.0 Intellectual property 563 7.0 Non-compete agreement 233 5.0 Tradenames 103 7.0 Total intangible assets $ 4,844 The weighted-average amortization period of the acquired intangible assets was 11.8 years.

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. There was no March 31, 2021. March 31, 2021 December 31, 2020 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology and intellectual property $ 29,951 $ 8,691 $ 21,260 $ 29,951 $ 7,947 $ 22,004 Trademarks, tradenames and licenses 4,000 1,197 2,803 4,000 1,094 2,906 Customer relationships 38,525 6,066 32,459 38,525 5,424 33,101 Other intangible assets 1,767 950 817 1,767 873 894 Total identifiable intangible assets $ 74,243 $ 16,904 $ 57,339 $ 74,243 $ 15,338 $ 58,905 These intangible assets are being amortized over their useful lives ranging from 2 to 16 years. The weighted-average amortization period for these intangibles as of March 31, 2021 Three months ended March 31, 2021 2020 (in thousands) Amortization expense $ 1,566 $ 834 We estimate that amortization expense for the remainder of 2021 five Year ended December 31, 2021 2022 2023 2024 2025 2026 (in thousands) Amortization expense $ 4,613 $ 5,975 $ 5,902 $ 5,706 $ 5,467 $ 5,001

Note 6 - Revolving Line of Cred

Note 6 - Revolving Line of Credit and Long-term Debt	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	6. In connection with the acquisition of Artegraft biologic graft business, we incurred debt in the amount of $65 million under a senior secured credit facility with a group of banks. This credit arrangement included a $25 million revolving credit line that was fully drawn at inception, as well as a $40 million five December 31, 2020 three March 31, 2021 March 31, 2021 March 31, 2021 (in thousands) Five-year term loan, net of unamortized debt issuance costs of $765 $ 31,235 Less current portion (2,750 ) $ 28,485 The loans bear interest at a rate per annum of, at our option, either (i) the Base Rate plus an applicable margin of from 1.25% to 1.75% depending on our consolidated leverage ratio, or (ii) the Eurodollar Rate plus an applicable margin of from 2.25% to 2.75% depending on our consolidated leverage ratio. Base Rate is defined in the credit agreement as a fluctuating rate per annum of the Federal Funds rate plus 0.5% or the prime rate of interest established from time to time by KeyBank National Association. At March 31, 2021 not five March 31, 2021, $6.5 three March 31, 2021 The term of the revolving line of credit is five June 22, 2025. March 31, 2025, June 22, 2025. We must comply with various financial and non-financial covenants, which are set forth in the Credit Agreement governing the credit facility. The primary financial covenant consists of a maximum consolidated leverage ratio. The lenders are entitled to accelerate repayment of the loans and terminate the revolving credit commitment upon the occurrence of any of various events of default as described in the Credit Agreement. We were in compliance with the covenants as of March 31, 2021. We are required to make mandatory prepayments of the term loans and any revolving credit loans in various amounts if we have Excess Cash Flow (as defined in the Credit Agreement, and commencing in respect of our fiscal year ending December 31, 2021 may

Note 7 - Leases

Note 7 - Leases	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7. We conduct the majority of our operations in leased facilities, all of which are accounted for as operating leases, as they do not five five December 2030. August 2023. two five October 2029. five February 2023. September May, twelve None no no March 31, 2021. We also lease automobiles under operating leases in the U.S. as well as certain of our international subsidiaries. The terms of these leases are generally three We account for leases under the provisions of ASU No. 2016 02, Leases (Topic 842 2018 11, Leases (Topic 842 Our most significant judgment involved in determining the amounts to initially record as lease liabilities and right-of-use assets upon initial adoption of this standard and for leases entered into subsequently was the selection of a discount rate; because we had no no Additional information with respect to our leases is as follows: Three Months Ended March 31, 2021 2020 Lease cost Operating lease cost 607 474 Short-term lease cost 64 13 Total lease cost $ 671 $ 487 Other information Cash paid for amounts included in the measurement of operating lease liabilities $ 748 $ 591 Right-of-use assets obtained in exchange for new operating lease liabilities $ 16 $ 149 Weighted average remaining lease term in years - operating leases 8.0 8.6 Weighted average discount rate - operating leases 5.02 % 5.25 % At March 31, 2021, one Remainder of 2021 $ 2,031 Year ending December 31, 2022 2,439 2023 2,066 2024 1,869 2025 1,919 2026 1,977 Thereafter 7,954 Adjustment to net present value as of March 31, 2021 (4,047 ) Minimum noncancelable lease liability $ 16,208

Note 8 - Accrued Expenses and O

Note 8 - Accrued Expenses and Other Long-term Liabilities	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block]	8. Accrued expenses consist of the following: March 31, 2021 December 31, 2020 (in thousands) Compensation and related taxes $ 5,880 $ 8,675 Income and other taxes 3,736 2,394 Professional fees 161 39 Other 4,588 6,417 Total $ 14,365 $ 17,525 Other long-term liabilities consist of the following: March 31, 2021 December 31, 2020 (in thousands) Aquisition-related liabilities $ 3,678 $ 3,700 Income taxes 765 813 Other 132 130 Total $ 4,575 $ 4,643

Note 9 - Segment and Enterprise

Note 9 - Segment and Enterprise-wide Disclosures	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	9. Under Accounting Standards Codification Topic 280, Segment Reporting No Most of our revenues are generated in the United States, Germany, and other European countries as well as in Canada, Japan and Australia. Substantially all of our assets are located in the United States, Germany and France. Net sales to unaffiliated customers by country were as follows: Three months ended March 31, 2021 2020 (in thousands) United States $ 21,968 $ 17,000 Germany 3,063 3,294 Other countries 10,852 10,257 Net Sales $ 35,883 $ 30,551

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. Our Third Amended and Restated 2006 Three months ended March 31, 2021 2020 (in thousands) Stock option awards $ 594 $ 500 Restricted stock units 333 279 Total share-based compensation $ 927 $ 779 Stock-based compensation is included in our statements of operations as follows: Three months ended March 31, 2021 2020 (in thousands) Cost of sales $ 100 $ 81 Sales and marketing 169 159 General and administrative 561 454 Research and development 97 85 Total stock-based compensation $ 927 $ 779 We did not three March 31, 2021 2020. three March 31, 2021 2020, three March 31, 2021 2020,

Note 11 - Net Income Per Share

Note 11 - Net Income Per Share	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	11. The computation of basic and diluted net income per share was as follows: Three months ended March 31, 2021 2020 (in thousands, except per share data) Basic: Net income available for common stockholders $ 5,929 $ 3,174 Weighted average shares outstanding 20,546 20,168 Basic earnings per share $ 0.29 $ 0.16 Diluted: Net income available for common stockholders $ 5,929 $ 3,174 Weighted-average shares outstanding 20,546 20,168 Common stock equivalents, if dilutive 301 270 Shares used in computing diluted earnings per common share 20,847 20,438 Diluted earnings per share $ 0.28 $ 0.16 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 256 468

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	12. Equity Share Repurchase Program On February 23, 2021, February 22, 2022. may not Dividends In February 2011, Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2021 March 9, 2021 March 25, 2021 $ 0.110 $ 2,262 Fiscal Year 2020 March 3, 2020 March 19, 2020 $ 0.095 $ 1,917 May 20, 2020 June 4, 2020 $ 0.095 $ 1,917 August 27, 2020 September 10, 2020 $ 0.095 $ 1,925 November 19, 2020 December 3, 2020 $ 0.095 $ 1,936 On April 27, 2021, June 3, 2021 May 19, 2021

Note 13 - Supplemental Cash Flo

Note 13 - Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	13. Three Months Ended March 31, 2021 2020 (in thousands) Cash paid for income taxes, net $ 337 $ 526

Note 14 - Fair Value Measuremen

Note 14 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	14. The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one three • Level 1 • Level 2 1, not • Level 3 no Level 1 March 31, 2021 We had no 2 March 31, 2021. As discussed in Note 4, 3 2020 first three During 2019, first 12 24 November 2019 first 12 not The following table provides a rollforward of the fair value of these liabilities, as determined by Level 3 Three months ended March 31, 2021 2020 (in thousands) Beginning balance $ 2,240 $ 1,765 Additions - - Payments - - Change in fair value included in earnings 30 28 Ending balance $ 2,270 $ 1,793

Note 15 - Accumulated Other Com

Note 15 - Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	15. Changes to our accumulated other comprehensive loss for the three March 31, 2021 2020 Three months ended March 31, 2021 2020 (in thousands) Beginning balance $ (1,525 ) $ (4,007 ) Other comprehensive income (loss) before reclassifications (938 ) (1,518 ) Amounts reclassified from accumulated other comprehensive loss - - Ending Balance $ (2,463 ) $ (5,525 )

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10 10 X. not may three March 31, 2021 not December 31, 2020, 10 March 12, 2021. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes to unaudited consolidated financial statements. Due to the COVID- 19 19 not May 10, 2021, 10
Consolidation, Policy [Policy Text Block]	Consolidation Our consolidated financial statements include the accounts of LeMaitre Vascular and the accounts of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Our revenue is derived primarily from the sale of disposable or implantable devices used during vascular surgery. We sell primarily directly to hospitals and to a lesser extent to distributors, as described below, and, during the periods presented in our consolidated financial statements, entered into consigned inventory arrangements with either hospitals or distributors on a limited basis. We also derive 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. We record revenue under the provisions of ASU 2014 09, 606 606 Step 1: Step 2: Step 3: Step 4: Step 5: 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), we have made the policy election allowed under Topic 606 not We generally reference customer purchase orders to determine the existence of a contract. Orders that are not one not We recognize 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 we have 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 our customers, and at which LeMaitre Vascular has a present right to receive payment for the goods. Below is a disaggregation of our revenue by major geographic area, which is among the primary categorizations used by management in evaluating financial performance, for the periods indicated (in thousands): Three months ended March 31, 2021 2020 ($ in thousands) Americas $ 23,699 $ 18,336 Europe, Middle East and Africa 9,862 10,350 Asia/Pacific Rim 2,322 1,865 Total $ 35,883 $ 30,551 We do not no not no Customers returning products may 18 twelve 30 not not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In December 2019, 2019 12 740 740, 740. January 1, 2021. not

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis for Presentation (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended March 31, 2021 2020 ($ in thousands) Americas $ 23,699 $ 18,336 Europe, Middle East and Africa 9,862 10,350 Asia/Pacific Rim 2,322 1,865 Total $ 35,883 $ 30,551

Note 2 - Income Tax Expense (Ta

Note 2 - Income Tax Expense (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	Three months ended March 31, 2021 (in thousands) Unrecognized tax benefits as of December 31, 2020 $ 820 Additions for tax positions of current year - Additions for tax positions of prior years (31 ) Reductions for settlements with taxing authorities - Reductions for lapses of the applicable statutes of limitations - Unrecognized tax benefits as of March 31, 2021 $ 789

Note 3 - Inventories and Othe_2

Note 3 - Inventories and Other Deferred Costs (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2021 December 31, 2020 (in thousands) Raw materials $ 5,168 $ 5,044 Work-in-process 7,586 6,004 Finished products 26,483 28,117 Other deferred costs 5,834 5,950 Total inventory and other deferred costs $ 45,071 $ 45,115

Note 4 - Acquisitions (Tables)

Note 4 - Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Allocated Fair Value (in thousands) Inventory $ 3,859 Accounts receivable 1,789 Equipment and supplies 1,140 Accounts payable and other (53 ) Intangible assets 39,056 Goodwill 27,115 Purchase price $ 72,906 Allocated Fair Value (in thousands) Inventory and other $ 1,343 Intangible assets 8,725 Goodwill 7,344 Purchase price $ 17,412 Allocated Fair Value (in thousands) Inventory $ 276 Equipmentand supplies 70 Intangible assets 4,844 Goodwill 2,748 Purchase price $ 7,938
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Allocated Estimated Fair Value Useful Life (in years) (in thousands) Customer relationships $ 20,310 15.0 Intellectual property 16,449 10.0 Non-compete agreement 104 5.0 Tradenames 2,193 10.0 Total intangible assets $ 39,056 Weighted Allocated Average Fair Value Useful Life (in years) (in thousands) Customer relationships $ 5,562 12.0 Intellectual property 2,335 8.0 Non-compete agreement 361 5.0 Tradenames 467 8.0 Total intangible assets $ 8,725 Weighted Allocated Average Fair Value Useful Life (in years) (in thousands) Customer relationships $ 3,945 13.0 Intellectual property 563 7.0 Non-compete agreement 233 5.0 Tradenames 103 7.0 Total intangible assets $ 4,844
Business Acquisition, Pro Forma Information [Table Text Block]	Unaudited Pro Forma Financial Information Three months ended March 31, 2020 ($ in thousands) Net sales $ 34,797 Net income 2,625 Net income per share Basic $ 0.13 Diluted $ 0.13

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	March 31, 2021 December 31, 2020 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology and intellectual property $ 29,951 $ 8,691 $ 21,260 $ 29,951 $ 7,947 $ 22,004 Trademarks, tradenames and licenses 4,000 1,197 2,803 4,000 1,094 2,906 Customer relationships 38,525 6,066 32,459 38,525 5,424 33,101 Other intangible assets 1,767 950 817 1,767 873 894 Total identifiable intangible assets $ 74,243 $ 16,904 $ 57,339 $ 74,243 $ 15,338 $ 58,905
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Three months ended March 31, 2021 2020 (in thousands) Amortization expense $ 1,566 $ 834
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ended December 31, 2021 2022 2023 2024 2025 2026 (in thousands) Amortization expense $ 4,613 $ 5,975 $ 5,902 $ 5,706 $ 5,467 $ 5,001

Note 6 - Revolving Line of Cr_2

Note 6 - Revolving Line of Credit and Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Debt [Table Text Block]	March 31, 2021 (in thousands) Five-year term loan, net of unamortized debt issuance costs of $765 $ 31,235 Less current portion (2,750 ) $ 28,485

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended March 31, 2021 2020 Lease cost Operating lease cost 607 474 Short-term lease cost 64 13 Total lease cost $ 671 $ 487 Other information Cash paid for amounts included in the measurement of operating lease liabilities $ 748 $ 591 Right-of-use assets obtained in exchange for new operating lease liabilities $ 16 $ 149 Weighted average remaining lease term in years - operating leases 8.0 8.6 Weighted average discount rate - operating leases 5.02 % 5.25 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Remainder of 2021 $ 2,031 Year ending December 31, 2022 2,439 2023 2,066 2024 1,869 2025 1,919 2026 1,977 Thereafter 7,954 Adjustment to net present value as of March 31, 2021 (4,047 ) Minimum noncancelable lease liability $ 16,208

Note 8 - Accrued Expenses and_2

Note 8 - Accrued Expenses and Other Long-term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, 2021 December 31, 2020 (in thousands) Compensation and related taxes $ 5,880 $ 8,675 Income and other taxes 3,736 2,394 Professional fees 161 39 Other 4,588 6,417 Total $ 14,365 $ 17,525
Other Noncurrent Liabilities [Table Text Block]	March 31, 2021 December 31, 2020 (in thousands) Aquisition-related liabilities $ 3,678 $ 3,700 Income taxes 765 813 Other 132 130 Total $ 4,575 $ 4,643

Note 9 - Segment and Enterpri_2

Note 9 - Segment and Enterprise-wide Disclosures (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three months ended March 31, 2021 2020 (in thousands) United States $ 21,968 $ 17,000 Germany 3,063 3,294 Other countries 10,852 10,257 Net Sales $ 35,883 $ 30,551

Note 10 - Share-based Compens_2

Note 10 - Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Share-based Payment Arrangement, Cost by Plan [Table Text Block]	Three months ended March 31, 2021 2020 (in thousands) Stock option awards $ 594 $ 500 Restricted stock units 333 279 Total share-based compensation $ 927 $ 779
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three months ended March 31, 2021 2020 (in thousands) Cost of sales $ 100 $ 81 Sales and marketing 169 159 General and administrative 561 454 Research and development 97 85 Total stock-based compensation $ 927 $ 779

Note 11 - Net Income Per Share

Note 11 - Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended March 31, 2021 2020 (in thousands, except per share data) Basic: Net income available for common stockholders $ 5,929 $ 3,174 Weighted average shares outstanding 20,546 20,168 Basic earnings per share $ 0.29 $ 0.16 Diluted: Net income available for common stockholders $ 5,929 $ 3,174 Weighted-average shares outstanding 20,546 20,168 Common stock equivalents, if dilutive 301 270 Shares used in computing diluted earnings per common share 20,847 20,438 Diluted earnings per share $ 0.28 $ 0.16 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 256 468

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Dividends Payable [Table Text Block]	Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2021 March 9, 2021 March 25, 2021 $ 0.110 $ 2,262 Fiscal Year 2020 March 3, 2020 March 19, 2020 $ 0.095 $ 1,917 May 20, 2020 June 4, 2020 $ 0.095 $ 1,917 August 27, 2020 September 10, 2020 $ 0.095 $ 1,925 November 19, 2020 December 3, 2020 $ 0.095 $ 1,936

Note 13 - Supplemental Cash F_2

Note 13 - Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended March 31, 2021 2020 (in thousands) Cash paid for income taxes, net $ 337 $ 526

Note 14 - Fair Value Measurem_2

Note 14 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three months ended March 31, 2021 2020 (in thousands) Beginning balance $ 2,240 $ 1,765 Additions - - Payments - - Change in fair value included in earnings 30 28 Ending balance $ 2,270 $ 1,793

Note 15 - Accumulated Other C_2

Note 15 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three months ended March 31, 2021 2020 (in thousands) Beginning balance $ (1,525 ) $ (4,007 ) Other comprehensive income (loss) before reclassifications (938 ) (1,518 ) Amounts reclassified from accumulated other comprehensive loss - - Ending Balance $ (2,463 ) $ (5,525 )

Note 1 - Organization and Bas_3

Note 1 - Organization and Basis for Presentation (Details Textual)	3 Months Ended
	Mar. 31, 2021
Minimum [Member]
Period of Payments Received from Customers (Day)	30 days
Maximum [Member]
Period of Payments Received from Customers (Day)	60 days

Note 1 - Organization and Bas_4

Note 1 - Organization and Basis for Presentation - Disaggregation of Revenue by Major Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue	$ 35,883	$ 30,551
Americas [Member]
Revenue	23,699	18,336
EMEA [Member]
Revenue	9,862	10,350
Asia Pacific [Member]
Revenue	$ 2,322	$ 1,865

Note 2 - Income Tax Expense (De

Note 2 - Income Tax Expense (Details Textual) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Unrecognized Tax Benefits, Ending Balance	$ 789,000	$ 820,000

Note 2 - Income Tax Expense - R

Note 2 - Income Tax Expense - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Unrecognized tax benefits	$ 820,000
Additions for tax positions of current year	0
Additions for tax positions of prior years	(31,000)
Reductions for settlements with taxing authorities	0
Reductions for lapses of the applicable statutes of limitations	0
Unrecognized tax benefits	$ 789,000

Note 3 - Inventories and Othe_3

Note 3 - Inventories and Other Deferred Costs (Details Textual) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	$ 1.9	$ 2.1

Note 3 - Inventories and Othe_4

Note 3 - Inventories and Other Deferred Costs - Summary of Inventories and Other Deferred Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Raw materials	$ 5,168	$ 5,044
Work-in-process	7,586	6,004
Finished products	26,483	28,117
Other deferred costs	5,834	5,950
Total inventory and other deferred costs	$ 45,071	$ 45,115

Note 4 - Acquisitions (Details

Note 4 - Acquisitions (Details Textual)	Jun. 22, 2020USD ($)	Oct. 11, 2019USD ($)	Jul. 12, 2019USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Artegraft Inc [Member]
Payments to Acquire Businesses, Gross	$ 72,500,000
Escrow Deposit Disbursements Related to Property Acquisition	$ 7,500,000
Business Combination, Contingent Consideration, Liability, Total						$ 400,000
Business Acquisition, Purchase Price Allocation, Goodwill Expected Tax Deductible, Period (Year)	15 years
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)	12 years 7 months 6 days
Artegraft Inc [Member] | First Earn-out [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 5,800,000
Business Combination, Contingent Consideration, Unit Sales	20,000
Artegraft Inc [Member] | Second Earn-out [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 5,800,000
Business Combination, Contingent Consideration, Unit Sales	24,000
Artegraft Inc [Member] | Third Earn-out [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 5,800,000
Business Combination, Contingent Consideration, Unit Sales	28,800
Artegraft Inc [Member] | Catch-Up Payment [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 400,000
Business Combination, Contingent Consideration, Minimum Unit Sales in Three Years	58,240
Business Combination, Contingent Consideration, Minimum Unit Sales in Three Years, Percent of Combined Individual Year Targets	80.00%
Business Combination, Contingent Consideration, Before Multiplied by Fraction	$ 17,500,000
Business Combination, Contingent Consideration, Denominator, Less Amount Paid	72,800
Artegraft Inc [Member] | Maximum [Member]
Business Combination, Consideration Transferred, Total	$ 90,000,000
CardioCel and VascuCel Biologic Patches [Member]
Payments to Acquire Businesses, Gross		$ 14,200,000
Business Combination, Contingent Consideration, Liability, Total		7,500,000		$ 2,000,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)				10 years 4 months 24 days
Goodwill, Purchase Accounting Adjustments					$ (1,300,000)
CardioCel and VascuCel Biologic Patches [Member] | Technology Licenses [Member]
Business Combination, Consideration Transferred, Total		8,000,000
CardioCel and VascuCel Biologic Patches [Member] | Achieving Audited Financial Statements of Acquired Business [Member]
Payments to Acquire Businesses, Gross		300,000
CardioCel and VascuCel Biologic Patches [Member] | First Holdback [Member]
Business Combination, Contingent Consideration, Liability, Total		700,000
CardioCel and VascuCel Biologic Patches [Member] | Third Holdback [Member]
Business Combination, Contingent Consideration, Liability, Total		2,000,000
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Twenty Million in the First Twelve Month Period After Closing Date [Member]
Business Combination, Contingent Consideration, Liability, Total		2,500,000
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Fifteen Million in the First Twelve Month Period After Closing Date [Member]
Business Combination, Contingent Consideration, Liability, Total		1,200,000
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Thirty Million in the Second Twelve Month Period After Closing Date [Member]
Business Combination, Contingent Consideration, Liability, Total		2,500,000
CardioCel and VascuCel Biologic Patches [Member] | Revenues Exceeding Twenty-Two and a Half Million in the First Twelve Month Period After Closing Date [Member]
Business Combination, Contingent Consideration, Liability, Total		1,200,000
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, Liability, Total		500,000
CardioCel and VascuCel Biologic Patches [Member] | Maximum [Member] | Biological Patch Business Assets [Member]
Business Combination, Consideration Transferred, Total		$ 15,300,000
Tru-Incise Valve Cutter [Member]
Business Combination, Consideration Transferred, Total			$ 8,000,000
Payments to Acquire Businesses, Gross			$ 6,800,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)			11 years 9 months 18 days
Business Combination, Deferred Purchase Consideration, Installment Payment			$ 400,000
Business Combination, Deferred Purchase Consideration			1,200,000
Acquisition Date Fair Value			$ 1,100,000
Business Combination ,Fair Value Inputs, Discount Rate			4.19%

Note 4 - Acquisitions - Assets

Note 4 - Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Jun. 22, 2020	Oct. 11, 2019	Jul. 12, 2019
Goodwill	$ 65,945	$ 65,945
Artegraft Inc [Member]
Inventory			$ 3,859
Accounts receivable			1,789
Equipment and supplies			1,140
Accounts payable and other			53
Intangible assets			39,056
Goodwill			27,115
Purchase price			$ 72,906
CardioCel and VascuCel Biologic Patches [Member]
Intangible assets				$ 8,725
Goodwill				7,344
Purchase price				17,412
Inventory and other				$ 1,343
Tru-Incise Valve Cutter [Member]
Inventory					$ 276
Equipment and supplies					70
Intangible assets					4,844
Goodwill					2,748
Purchase price					$ 7,938

Note 4 - Acquisitions - Acquire

Note 4 - Acquisitions - Acquired Intangible Assets and Related Estimated Useful Lives (Details) - USD ($) $ in Thousands	Jun. 22, 2020	Oct. 11, 2019	Sep. 20, 2018	Mar. 31, 2021
Artegraft Inc [Member]
Allocated Fair Value	$ 39,056
Weighted Average Useful Life (Year)	12 years 7 months 6 days
Artegraft Inc [Member] | Customer Relationships [Member]
Allocated Fair Value	$ 20,310
Weighted Average Useful Life (Year)	15 years
Artegraft Inc [Member] | Intellectual Property [Member]
Allocated Fair Value	$ 16,449
Weighted Average Useful Life (Year)	10 years
Artegraft Inc [Member] | Noncompete Agreements [Member]
Allocated Fair Value	$ 104
Weighted Average Useful Life (Year)	5 years
Artegraft Inc [Member] | Trade Names [Member]
Allocated Fair Value	$ 2,193
Weighted Average Useful Life (Year)	10 years
CardioCel and VascuCel Biologic Patches [Member]
Allocated Fair Value		$ 8,725
Weighted Average Useful Life (Year)				10 years 4 months 24 days
CardioCel and VascuCel Biologic Patches [Member] | Customer Relationships [Member]
Allocated Fair Value		$ 5,562
Weighted Average Useful Life (Year)		12 years
CardioCel and VascuCel Biologic Patches [Member] | Intellectual Property [Member]
Allocated Fair Value		$ 2,335
Weighted Average Useful Life (Year)		8 years
CardioCel and VascuCel Biologic Patches [Member] | Noncompete Agreements [Member]
Allocated Fair Value		$ 361
Weighted Average Useful Life (Year)		5 years
CardioCel and VascuCel Biologic Patches [Member] | Trade Names [Member]
Allocated Fair Value		$ 467
Weighted Average Useful Life (Year)		8 years
Applied Medical [Member]
Allocated Fair Value			$ 4,844
Applied Medical [Member] | Customer Relationships [Member]
Allocated Fair Value			$ 3,945
Weighted Average Useful Life (Year)			13 years
Applied Medical [Member] | Intellectual Property [Member]
Allocated Fair Value			$ 563
Weighted Average Useful Life (Year)			7 years
Applied Medical [Member] | Noncompete Agreements [Member]
Allocated Fair Value			$ 233
Weighted Average Useful Life (Year)			5 years
Applied Medical [Member] | Trade Names [Member]
Allocated Fair Value			$ 103
Weighted Average Useful Life (Year)			7 years

Note 4 - Acquisitions - Pro For

Note 4 - Acquisitions - Pro Forma Financial Information (Details) - Artegraft Inc [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / shares
Net sales | $	$ 34,797
Net income | $	$ 2,625
Basic (in dollars per share) | $ / shares	$ 0.13
Diluted (in dollars per share) | $ / shares	$ 0.13

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangible Assets (Details Textual)	3 Months Ended
	Mar. 31, 2021
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	16 years
Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	11 years 10 months 24 days

Note 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangible Assets - Components of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Gross carrying value	$ 74,243	$ 74,243
Accumulated amortization	16,904	15,338
Net carrying value	57,339	58,905
Product Technology and Intellectual Property [Member]
Gross carrying value	29,951	29,951
Accumulated amortization	8,691	7,947
Net carrying value	21,260	22,004
Trademarks, Tradenames and Licenses [Member]
Gross carrying value	4,000	4,000
Accumulated amortization	1,197	1,094
Net carrying value	2,803	2,906
Customer Relationships [Member]
Gross carrying value	38,525	38,525
Accumulated amortization	6,066	5,424
Net carrying value	32,459	33,101
Other Intangible Assets [Member]
Gross carrying value	1,767	1,767
Accumulated amortization	950	873
Net carrying value	$ 817	$ 894

Note 5 - Goodwill and Other I_5

Note 5 - Goodwill and Other Intangible Assets - Amortization Expense Included in General and Administrative Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Amortization expense	$ 1,566	$ 834

Note 5 - Goodwill and Other I_6

Note 5 - Goodwill and Other Intangible Assets - Estimated Amortization Expense for Each of Five Succeeding Fiscal Years (Details) $ in Thousands	Mar. 31, 2021USD ($)
2021	$ 4,613
2022	5,975
2023	5,902
2024	5,706
2025	5,467
2026	$ 5,001

Note 6 - Revolving Line of Cr_3

Note 6 - Revolving Line of Credit and Long-term Debt (Details Textual) - Senior Secured Credit Facility [Member] - USD ($) $ in Millions	Jun. 22, 2020	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument, Face Amount	$ 65
Debt Instrument, Interest Rate, Effective Percentage			4.20%
Debt Issuance Costs, Net, Total	$ 1.8
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total		$ 0.3
Debt Instrument, Collateral, Percentage of Stock of Domestic Subsidiaries	100.00%
Term Loan [Member]
Debt Instrument, Face Amount	$ 40
Debt Instrument, Term (Year)	5 years
Repayments of Long-term Debt, Total		0.5	$ 1
Repayments of Long-term Lines of Credit		$ 6.5
Debt Instrument, Interest Rate, Effective Percentage		3.25%
Amortization of Debt Issuance Costs		$ 0.1
Term Loan [Member] | Minimum [Member]
Debt Instrument, Periodic Payment, Total	$ 0.5
Term Loan [Member] | Maximum [Member]
Debt Instrument, Periodic Payment, Total	$ 1
Term Loan [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Term Loan [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Term Loan [Member] | Eurodollar [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Term Loan [Member] | Eurodollar [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%
Term Loan [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25
Debt Instrument, Term (Year)	5 years
Revolving Credit Facility [Member] | Other Assets [Member]
Debt Issuance Costs, Line of Credit Arrangements, Net, Total	$ 0.7

Note 6 - Revolving Line of Cr_4

Note 6 - Revolving Line of Credit and Long-term Debt - Five Year Term Loan (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Five-year term loan, net of unamortized debt issuance costs of $765	$ 31,235
Less current portion	(2,750,000)	$ (2,500,000)
Secured Long-term Debt, Noncurrent	28,485,000	$ 35,532,000
Term Loan [Member] | Senior Secured Credit Facility [Member]
Less current portion	(2,750,000)
Secured Long-term Debt, Noncurrent	$ 28,485,000

Note 6 - Revolving Line of Cr_5

Note 6 - Revolving Line of Credit and Long-term Debt - Five Year Term Loan (Details) (Parentheticals)	Jun. 22, 2020
Term Loan [Member] | Senior Secured Credit Facility [Member]
Term (Year)	5 years

Note 7 - Leases (Details Textua

Note 7 - Leases (Details Textual) $ in Thousands	Mar. 31, 2021USD ($)ft²	Dec. 31, 2020
Finance Lease, Right-of-Use Asset | $	$ 0
Lessee, Operating Lease, Discount Rate		5.25%
Senior Secured Credit Facility [Member] | Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.50%
Leased Automobiles [Member]
Lessee, Operating Lease, Term of Contract (Year)	3 years
North Brunswick, New Jersey [Member] | Artegraft Inc [Member]
Area of Real Estate Property (Square Foot)	16,732
CANADA
Lessee, Operating Lease, Renewal Term (Year)	5 years
Principal Worldwide Executive, Distribution, and Manufacturing Operations Facilities [Member] | Massachusetts [Member]
Area of Real Estate Property (Square Foot)	109,354
International Operations Headquarter Facility [Member] | GERMANY
Area of Real Estate Property (Square Foot)	16,470
Lessee, Operating Lease, Renewal Term (Year)	5 years
United Kingdom Sales and Distribution Business [Member] | Hereford, England [Member]
Area of Real Estate Property (Square Foot)	2,258

Note 7 - Leases - Additional Le

Note 7 - Leases - Additional Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating lease cost	$ 607	$ 474
Short-term lease cost	64	13
Total lease cost	671	487
Cash paid for amounts included in the measurement of operating lease liabilities	748	591
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 16	$ 149
Weighted average remaining lease term in years - operating leases (Year)	8 years	8 years 7 months 6 days
Weighted average discount rate - operating leases	5.02%	5.25%

Note 7 - Leases - Minimum Renta

Note 7 - Leases - Minimum Rental Commitments (Details) $ in Thousands	Mar. 31, 2021USD ($)
Remainder of 2021	$ 2,031
2022	2,439
2023	2,066
2024	1,869
2025	1,919
2026	1,977
Thereafter	7,954
Adjustment to net present value as of March 31, 2021	(4,047)
Minimum noncancelable lease liability	$ 16,208

Note 8 - Accrued Expenses and_3

Note 8 - Accrued Expenses and Other Long-term Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Compensation and related taxes	$ 5,880	$ 8,675
Income and other taxes	3,736	2,394
Professional fees	161	39
Other	4,588	6,417
Total	$ 14,365	$ 17,525

Note 8 - Accrued Expenses and_4

Note 8 - Accrued Expenses and Other Long-term Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Aquisition-related liabilities	$ 3,678	$ 3,700
Income taxes	765	813
Other	132	130
Total	$ 4,575	$ 4,643

Note 9 - Segment and Enterpri_3

Note 9 - Segment and Enterprise-wide Disclosures (Details Textual)	3 Months Ended
	Mar. 31, 2021
Number of Operating Segments	1

Note 9 - Segment and Enterpri_4

Note 9 - Segment and Enterprise-wide Disclosures - Net Sales to Unaffiliated Customers by Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Sales	$ 35,883	$ 30,551
UNITED STATES
Net Sales	21,968	17,000
GERMANY
Net Sales	3,063	3,294
Other Countries [Member]
Net Sales	$ 10,852	$ 10,257

Note 10 - Share-based Compens_3

Note 10 - Share-based Compensation (Details Textual) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	694	2,100
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)	70,000	23,000

Note 10 - Share-based Compens_4

Note 10 - Share-based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock-based compensation	$ 927	$ 779
Share-based Payment Arrangement, Option [Member]
Stock-based compensation	594	500
Restricted Stock Units (RSUs) [Member]
Stock-based compensation	$ 333	$ 279

Note 10 - Share-based Compens_5

Note 10 - Share-based Compensation - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total stock-based compensation	$ 927	$ 779
Cost of Sales [Member]
Total stock-based compensation	100	81
Selling and Marketing Expense [Member]
Total stock-based compensation	169	159
General and Administrative Expense [Member]
Total stock-based compensation	561	454
Research and Development Expense [Member]
Total stock-based compensation	$ 97	$ 85

Note 11 - Net Income per Shar_2

Note 11 - Net Income per Share - Computation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 5,929	$ 3,174
Weighted average shares outstanding (in shares)	20,546	20,168
Basic earnings per share (in dollars per share)	$ 0.29	$ 0.16
Common stock equivalents, if dilutive (in shares)	301	270
Shares used in computing diluted earnings per common share (in shares)	20,847	20,438
Diluted earnings per share (in dollars per share)	$ 0.28	$ 0.16
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive (in shares)	256	468

Note 12 - Stockholders' Equit_2

Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Apr. 27, 2021	Mar. 31, 2021	Mar. 31, 2020	Feb. 23, 2021
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.110	$ 0.095
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.11
Dividends Payable	$ 2.3
Dividends Payable, Date to be Paid	Jun. 3, 2021
Dividends Payable, Date of Record	May 19, 2021
Common Stock [Member]
Treasury Stock, Shares, Acquired (in shares)
Stock Repurchase Program [Member] | Common Stock [Member]
Stock Repurchase Program, Authorized Amount				$ 15
Treasury Stock, Shares, Acquired (in shares)		0

Note 12 - Stockholders' Equit_3

Note 12 - Stockholders' Equity - Dividend Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Per share amount (in dollars per share)	$ 0.110	$ 0.095
Quarterly Dividends 1 [Member]
Record date	Mar. 9, 2021
Payment date	Mar. 25, 2021
Per share amount (in dollars per share)	$ 0.110
Dividend payment	$ 2,262
Quarterly Dividends 2 [Member]
Record date			Mar. 3, 2020
Payment date			Mar. 19, 2020
Per share amount (in dollars per share)			$ 0.095
Dividend payment			$ 1,917
Quarterly Dividends 3 [Member]
Record date			May 20, 2020
Payment date			Jun. 4, 2020
Per share amount (in dollars per share)			$ 0.095
Dividend payment			$ 1,917
Quarterly Dividends 4 [Member]
Record date			Aug. 27, 2020
Payment date			Sep. 10, 2020
Per share amount (in dollars per share)			$ 0.095
Dividend payment			$ 1,925
Quarterly Dividends 5 [Member]
Record date			Nov. 19, 2020
Payment date			Dec. 3, 2020
Per share amount (in dollars per share)			$ 0.095
Dividend payment			$ 1,936

Note 13 - Supplemental Cash F_3

Note 13 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for income taxes, net	$ 337	$ 526

Note 14 - Fair Value Measurem_3

Note 14 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 11, 2019
Artegraft Inc [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 17,500
Business Combination, Contingent Consideration, Liability, Total		$ 400
CardioCel and VascuCel Biologic Patches [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			$ 7,800
Business Combination, Contingent Consideration, Liability, Total	$ 2,000			$ 7,500
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] | Third Holdback [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			2,000
Business Combination, Contingent Consideration, Liability, Total				2,000
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
Business Combination, Contingent Consideration, Liability, Total				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
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Assets, Fair Value Disclosure	$ 0
Fair Value, Inputs, Level 3 [Member] | CardioCel and VascuCel Biologic Patches [Member]
Business Combination, Contingent Consideration, Liability, Total				$ 2,300

Note 14 - Fair Value Measurem_4

Note 14 - Fair Value Measurements - Rollforward of the Fair Value as Determined by Level 3 (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Beginning balance	$ 2,240	$ 1,765
Additions	0	0
Payments	0	0
Change in fair value included in earnings	30	28
Ending balance	$ 2,270	$ 1,793

Note 15 - Accumulated Other C_3

Note 15 - Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Balance	$ 172,572	$ 148,141
Balance	177,525	148,835
AOCI Attributable to Parent [Member]
Balance	(1,525)	(4,007)
Other comprehensive income (loss) before reclassifications	(938)	(1,518)
Amounts reclassified from accumulated other comprehensive loss	0	0
Balance	$ (2,463)	$ (5,525)