LeMaitre Vascular (LMAT) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
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	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	LMAT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,962,869

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 20,788	$ 13,855
Short-term marketable securities	54,895	56,104
Accounts receivable, net of allowances of $792 at June 30, 2022 and $679 at December 31, 2021	21,542	19,631
Inventory and other deferred costs	47,192	46,104
Prepaid expenses and other current assets	3,243	4,189
Assets held for sale	826	0
Total current assets	148,486	139,883
Property and equipment, net	15,753	17,059
Right-of-use leased assets	16,290	15,071
Goodwill	65,945	65,945
Other intangibles, net	49,598	52,710
Deferred tax assets	2,369	1,566
Other assets	984	568
Total assets	299,425	292,802
Liabilities and stockholders’ equity
Accounts payable	2,844	2,340
Accrued expenses	17,009	16,332
Acquisition-related obligations	1,758	1,271
Lease liabilities - short-term	1,794	1,870
Total current liabilities	23,405	21,813
Lease liabilities - long-term	15,420	14,067
Deferred tax liabilities	64	70
Other long-term liabilities	2,503	2,701
Total liabilities	41,392	38,651
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 23,520,888 shares at June 30, 2022, and 23,477,784 shares at December 31, 2021	235	235
Additional paid-in capital	184,605	181,630
Retained earnings	92,190	88,125
Accumulated other comprehensive loss	(6,444)	(3,435)
Treasury stock, at cost; 1,558,019 shares at June 30, 2022 and 1,554,905 shares at December 31, 2021	(12,553)	(12,404)
Total stockholders’ equity	258,033	254,151
Total liabilities and stockholders’ equity	$ 299,425	$ 292,802

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts receivable, allowances	$ 792	$ 679
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)	23,520,888	23,477,784
Treasury stock, at cost (in shares)	1,558,019	1,554,905

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Sales	$ 42,108	$ 40,670	$ 81,669	$ 76,553
Cost of sales	14,298	13,909	27,897	25,993
Gross profit	27,810	26,761	53,772	50,560
Sales and marketing	8,242	6,803	16,092	13,269
General and administrative	7,331	6,200	14,583	12,744
Research and development	3,346	2,652	6,278	5,496
Restructuring	3,107	0	3,107	0
Total operating expenses	22,026	15,655	40,060	31,509
Income from operations	5,784	11,106	13,712	19,051
Other income (expense):
Interest income	167	1	275	2
Interest expense	0	(495)	0	(1,072)
Foreign currency gain (loss)	(403)	(157)	(443)	(33)
Income before income taxes	5,548	10,455	13,544	17,948
Provision for income taxes	2,033	2,156	3,991	3,720
Net income	$ 3,515	$ 8,299	$ 9,553	$ 14,228
Earnings per share of common stock:
Basic (in dollars per share)	$ 0.16	$ 0.40	$ 0.44	$ 0.69
Diluted (in dollars per share)	$ 0.16	$ 0.40	$ 0.43	$ 0.68
Weighted-average shares outstanding:
Basic (in shares)	21,958	20,611	21,947	20,579
Diluted (in shares)	22,129	20,959	22,115	20,900
Cash dividends declared per common share (in dollars per share)	$ 0.125	$ 0.110	$ 0.250	$ 0.220

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 3,515	$ 8,299	$ 9,553	$ 14,228
Other comprehensive income (loss):
Foreign currency translation adjustment, net	(1,226)	220	(1,526)	(717)
Unrealized gain (loss) on short-term marketable securities	(594)	0	(1,483)	(1)
Total other comprehensive income (loss)	(1,820)	220	(3,009)	(718)
Comprehensive income	$ 1,695	$ 8,519	$ 6,544	$ 13,510

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, 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				0
Stock-based compensation expense		927				927
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)
Common stock dividend paid			(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
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						14,228
Other comprehensive income (loss)						(718)
Balance (in shares) at Jun. 30, 2021	22,201,778				1,540,813
Balance at Jun. 30, 2021	$ 222	119,291	80,253	(2,243)	$ (11,690)	185,833
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
Net income			8,299			8,299
Other comprehensive income (loss)				220		220
Issuance of common stock for stock options exercised (in shares)	70,355
Issuance of common stock for stock options exercised	$ 1	1,186				1,187
Vested restricted stock units (in shares)	0
Vested restricted stock units	$ 0	0				0
Stock-based compensation expense		869				869
Common stock dividend paid			(2,267)			(2,267)
Balance (in shares) at Jun. 30, 2021	22,201,778				1,540,813
Balance at Jun. 30, 2021	$ 222	119,291	80,253	(2,243)	$ (11,690)	185,833
Balance (in shares) at Dec. 31, 2021	23,477,784				1,554,905
Balance at Dec. 31, 2021	$ 235	181,630	88,125	(3,435)	$ (12,404)	254,151
Net income			6,038			6,038
Other comprehensive income (loss)				(1,189)		(1,189)
Issuance of common stock for stock options exercised (in shares)	24,917
Issuance of common stock for stock options exercised	$ 0	508				508
Vested restricted stock units (in shares)	7,158
Vested restricted stock units	$ 0	0				0
Stock-based compensation expense		1,167				1,167
Repurchase of common stock for net settlement of equity awards (in shares)					3,016
Repurchase of common stock for net settlement of equity awards					$ (145)	(145)
Common stock dividend paid			(2,743)			(2,743)
Balance (in shares) at Mar. 31, 2022	23,509,859				1,557,921
Balance at Mar. 31, 2022	$ 235	183,305	91,420	(4,624)	$ (12,549)	257,787
Balance (in shares) at Dec. 31, 2021	23,477,784				1,554,905
Balance at Dec. 31, 2021	$ 235	181,630	88,125	(3,435)	$ (12,404)	254,151
Net income						9,553
Other comprehensive income (loss)						(3,009)
Balance (in shares) at Jun. 30, 2022	23,520,888				1,558,019
Balance at Jun. 30, 2022	$ 235	184,605	92,190	(6,444)	$ (12,553)	258,033
Balance (in shares) at Mar. 31, 2022	23,509,859				1,557,921
Balance at Mar. 31, 2022	$ 235	183,305	91,420	(4,624)	$ (12,549)	257,787
Net income			3,515			3,515
Other comprehensive income (loss)				(1,820)		(1,820)
Issuance of common stock for stock options exercised (in shares)	10,808
Issuance of common stock for stock options exercised	$ 0	164				164
Vested restricted stock units (in shares)	221
Vested restricted stock units	$ 0	0				0
Stock-based compensation expense		1,136				1,136
Repurchase of common stock for net settlement of equity awards (in shares)					98
Repurchase of common stock for net settlement of equity awards					$ (4)	(4)
Common stock dividend paid			(2,745)			(2,745)
Balance (in shares) at Jun. 30, 2022	23,520,888				1,558,019
Balance at Jun. 30, 2022	$ 235	$ 184,605	$ 92,190	$ (6,444)	$ (12,553)	$ 258,033

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities
Net income	$ 9,553	$ 14,228
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,817	5,261
Stock-based compensation	2,303	1,796
Fair value adjustment to contingent consideration obligations	(54)	99
Provision for doubtful accounts	141	133
Provision for inventory write-downs	1,671	2,154
Loss on disposal of property and equipment	95	0
Loss on divestitures	1,954	0
Foreign currency transaction loss	(919)	(14)
Changes in operating assets and liabilities:
Accounts receivable	(2,610)	(1,486)
Inventory and other deferred costs	(3,536)	(2,044)
Prepaid expenses and other assets	403	447
Accounts payable and other liabilities	141	(4,603)
Net cash provided by operating activities	13,959	15,971
Investing activities
Purchases of property and equipment and other assets	(1,509)	(2,462)
Net cash used in investing activities	(1,509)	(2,462)
Financing activities
Payment of long-term debt	0	(16,000)
Proceeds from issuance of common stock	672	2,113
Purchase of treasury stock for net settlement of equity awards	(149)	(88)
Common stock cash dividend paid	(5,488)	(4,529)
Net cash used in financing activities	(4,965)	(18,504)
Effect of exchange rate changes on cash and cash equivalents	(552)	(228)
Net increase (decrease) in cash and cash equivalents	6,933	(5,223)
Cash and cash equivalents at beginning of period	13,855	26,764
Cash and cash equivalents at end of period	$ 20,788	$ 21,541

Note 1 - Organization and Basis

Note 1 - Organization and Basis for Presentation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Description of Business Unless the context requires otherwise, references to LeMaitre, 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, radiopaque marking tape, 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; Hereford, England; Kensington, Australia; Tokyo, Japan; Shanghai, China; Singapore; and Seoul, Korea. 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 six June 30, 2022 not December 31, 2021, 10 February 28, 2022. 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. The Company is not August 5, 2022, 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, Revenue from Contracts with Customers (Topic 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 record 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 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 June 30, Six months ended June 30, 2022 2021 2022 2021 ($ in thousands) ($ in thousands) Americas $ 28,854 $ 27,329 $ 55,397 $ 51,028 Europe, Middle East and Africa 10,749 10,803 21,243 20,665 Asia Pacific 2,505 2,538 5,029 4,860 Total $ 42,108 $ 40,670 $ 81,669 $ 76,553 We do not no not no Customers returning products may 18 twelve 30 not not Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and are general adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not not

Note 2 - Income Tax Expense

Note 2 - Income Tax Expense	6 Months Ended
	Jun. 30, 2022
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 inside and outside the United States, and may Our policy is to classify interest and penalties related to unrecognized tax benefits as income tax expense. Our 2022 not 2021 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 June 30, 2022, 2030. Six months ended June 30, 2022 (in thousands) Unrecognized tax benefits as of December 31, 2021 $ 768 Additions/adjustments for tax positions of current year - Additions/adjustments for tax positions of prior years (66 ) Reductions for settlements with taxing authorities - Reductions for lapses of the applicable statutes of limitations - Unrecognized tax benefits as of June 30, 2022 $ 702 As of June 30, 2022, United States 2018 Foreign 2014

Note 3 - Inventories and Other

Note 3 - Inventories and Other Deferred Costs	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Inventory and Other Deferred Costs Disclosure [Text Block]	3. Inventories and other deferred costs consist of the following: June 30, 2022 December 31, 2021 (in thousands) Raw materials $ 13,434 $ 5,945 Work-in-process 3,057 9,416 Finished products 25,269 25,286 Other deferred costs 5,432 5,457 Total inventory and other deferred costs $ 47,192 $ 46,104 We had inventory on consignment at customer sites of $1.8 million and $2.1 million at June 30, 2022 December 31, 2021, In connection with our RestoreFlow allograft business, other deferred costs 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 tissues we preserve are not

Note 4 - Acquisitions

Note 4 - Acquisitions	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Business Combination Disclosure [Text Block]	4. Our acquisitions are accounted for using the acquisition method, and the acquired businesses’ 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, consolidation of manufacturing facilities, and the leveraging of our existing administrative infrastructure. The fair market valuations associated with these transactions fall within Level 3 15 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 the Product have been sold to third January 1, 2021 December 31, 2021 ( not no ● $5.8 million upon final determination that 24,000 units of the Product have been sold to third January 1, 2022 December 31, 2022; ● $5.8 million upon final determination that 28,800 units of the 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 June 30, 2022 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 thousands) Customer relationships $ 20,310 15.0 years Intellectual property 16,449 10.0 years Non-compete agreement 104 5.0 years Tradenames 2,193 10.0 years Total intangible assets $ 39,056 The weighted-average amortization period of the acquired intangible assets was 12.6 years.

Note 5 - Divestitures

Note 5 - Divestitures	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	5. On April 26, 2022, 2018. On June 30, 2022 three six June 30, 2022. third As of June 30, 2022, 360, twelve

Note 6 - Goodwill and Other Int

Note 6 - Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6. There was no six June 30, 2022. June 30, 2022 December 31, 2021 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology and intellectual property $ 29,549 $ 11,914 $ 17,635 $ 29,549 $ 10,473 $ 19,076 Trademarks, tradenames and licenses 3,647 1,338 2,309 3,647 1,139 2,508 Customer relationships 36,197 7,015 29,182 36,197 5,674 30,523 Other intangible assets 1,461 989 472 1,461 858 603 Total identifiable intangible assets $ 70,854 $ 21,256 $ 49,598 $ 70,854 $ 18,144 $ 52,710 These assets are being amortized over useful lives ranging from 2 June 30, 2022 Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Amortization expense $ 1,596 $ 1,562 $ 3,112 $ 3,128 We estimate that amortization expense for the remainder of 2022 five Year ended December 31, 2022 2023 2024 2025 2026 2027 (in thousands) Amortization expense $ 3,071 $ 5,952 $ 5,629 $ 5,429 $ 4,983 $ 4,706

Note 7 - Revolving Line of Cred

Note 7 - Revolving Line of Credit and Long-term Debt	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	7. In connection with the acquisition of the 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, 2021, six June 30, 2021, Under the terms of the agreement, the loans bore 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 was 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 June 30, 2021, We incurred debt issuance costs in connection with this credit arrangement of approximately $1.8 million. These costs were allocated between the revolving line of credit and the term loans, with the portion related to the revolving line of credit of $0.7 million recorded in other assets on our balance sheet, and the portion allocated to the term loan recorded as a deduction from the amount of the debt. All of these transaction costs were being amortized into interest expense on a straight-line basis as the result would not five six June 30, 2021, $15.0 six June 30, 2021 At September 30, 2021, September 2021

Note 8 - Leases

Note 8 - Leases	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	8. 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. Our European operations are headquartered at a 21,410 square foot leased facility located in Sulzbach, Germany. During the quarter ended June 30, 2022 June 2031. five June 30, 2022, April 2027. one June 2023. Similar to prior quarters, we also lease a facility in Hereford, England which houses our United Kingdom sales and distribution business. During the quarter ended June 30, 2021 October 2029. June 2021 six six June 30, 2022, three August 2025, August 24, 2022. five February 2023. twelve None no no June 30, 2022. We also lease automobiles under operating leases in the United States as well as certain of our international subsidiaries. The terms of these leases are generally three 2021, five 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 June 30, Six months ended June 30, 2022 2021 2022 2021 (in thousands) (in thousands) (in thousands) (in thousands) Lease cost Operating lease cost $ 638 $ 487 $ 1,163 $ 1,094 Short-term lease cost 161 126 324 190 Total lease cost $ 799 $ 613 $ 1,487 $ 1,284 Other information Cash paid for amounts included in the measurement of operating lease liabilities $ 810 $ 633 $ 1,484 $ 1,381 Right-of-use assets obtained in exchange for new operating lease liabilities $ 2,240 $ 1,261 $ 2,381 $ 1,277 Weighted average remaining lease term - operating leases (in years) 8.2 8.2 Weighted average discount rate - operating leases 4.88 % 4.86 % At June 30, 2022, one Remainder of 2022 $ 1,463 Year ending December 31, 2023 2,602 2024 2,547 2025 2,530 2026 2,489 2027 2,372 Thereafter 6,973 Adjustment to net present value as of June 30, 2022 (3,762 ) Minimum noncancelable lease liability $ 17,214

Note 9 - Accrued Expenses and O

Note 9 - Accrued Expenses and Other Long-term Liabilities	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Noncurrent [Text Block]	9. Accrued expenses consist of the following: June 30, 2022 December 31, 2021 (in thousands) Compensation and related taxes $ 10,148 $ 10,236 Income and other taxes 669 551 Professional fees 121 129 Other 6,071 5,416 Total $ 17,009 $ 16,332 Other long-term liabilities consist of the following: June 30, 2022 December 31, 2021 (in thousands) Aquisition-related liabilities $ 1,664 $ 1,761 Income taxes 691 799 Other 148 141 Total $ 2,503 $ 2,701

Note 10 - Segment and Enterpris

Note 10 - Segment and Enterprise-wide Disclosures	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10. The FASB establishes standards for reporting information regarding operating segments in financial statements. Operating segments are identified as components of an enterprise that engage in business activities for which separate, discrete financial information is available and is regularly reviewed by the chief operating decision-maker in making decisions on how to allocate resources and assess performance. We view our operations and manage our business as one operating segment. No Most of our revenues are generated in the United States, Germany and other European countries, Canada, the United Kingdom and Japan, and 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 Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) United States $ 26,228 $ 25,172 $ 50,492 $ 47,140 Germany 2,870 3,154 5,861 6,217 Other countries 13,010 12,344 25,316 23,196 Net Sales $ 42,108 $ 40,670 $ 81,669 $ 76,553

Note 11 - Share-based Compensat

Note 11 - Share-based Compensation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	11. Our Third Amended and Restated 2006 Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Stock option awards $ 607 $ 562 $ 1,226 $ 1,156 Restricted stock units 391 307 799 640 Performance-based restricted stock units 138 - 278 - Total share-based compensation $ 1,136 $ 869 $ 2,303 $ 1,796 Stock-based compensation is included in our statements of operations as follows: Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Cost of sales $ 135 $ 100 $ 273 $ 200 Sales and marketing 193 119 402 288 General and administrative 695 557 1,407 1,118 Research and development 113 93 221 190 Total stock-based compensation $ 1,136 $ 869 $ 2,303 $ 1,796 During the six June 30, 2022, not six June 30, 2021. six June 30, 2022 2021, six June 30, 2022. not six June 30, 2021. six June 30, 2022 2021,

Note 12 - Net Income Per Share

Note 12 - Net Income Per Share	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	12. The computation of basic and diluted net income per share was as follows: Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands, except per share data) (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,515 $ 8,299 $ 9,553 $ 14,228 Weighted average shares outstanding 21,958 20,611 21,947 20,579 Basic earnings per share $ 0.16 $ 0.40 $ 0.44 $ 0.69 Diluted: Net income available for common stockholders $ 3,515 $ 8,299 $ 9,553 $ 14,228 Weighted-average shares outstanding 21,958 20,611 21,947 20,579 Common stock equivalents, if dilutive 171 348 168 321 Shares used in computing diluted earnings per common share 22,129 20,959 22,115 20,900 Diluted earnings per share $ 0.16 $ 0.40 $ 0.43 $ 0.68 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 328 - 390 152

Note 13 - Stockholders' Equity

Note 13 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	13. Equity Share Repurchase Program On February 22, 2022, February 22, 2023. may not Dividends In February 2011, Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2022 March 8, 2022 March 24, 2022 $ 0.125 $ 2,743 May 17, 2022 June 2, 2022 $ 0.125 $ 2,745 Fiscal Year 2021 March 9, 2021 March 25, 2021 $ 0.110 $ 2,262 May 19, 2021 June 3, 2021 $ 0.110 $ 2,267 August 26, 2021 September 9, 2021 $ 0.110 $ 2,401 November 19, 2021 December 2, 2021 $ 0.110 $ 2,405 On July 26, 2022, September 8, 2022 August 25, 2022

Note 14 - Supplemental Cash Flo

Note 14 - Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	14. For the six months ended June 30, 2022 2021 (in thousands) Cash paid for income taxes, net $ 3,991 $ 6,236

Note 15 - Fair Value Measuremen

Note 15 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	15. 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 June 30, 2022 We had no 2 June 30, 2022. As discussed in Note 4, 3 2020 first three During 2019, first 12 24 November 2019 first 12 24 not August 2021 may The following table provides a rollforward of the fair value of these liabilities, as determined by Level 3 Six months ended June 30, 2022 2021 (in thousands) Beginning balance $ 1,492 $ 2,240 Additions - - Payments - - Change in fair value included in earnings 27 61 Ending balance $ 1,519 $ 2,301

Note 16 - Accumulated Other Com

Note 16 - Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	16. Changes to our accumulated other comprehensive loss for the six June 30, 2022 2021 Six months ended June 30, 2022 2021 (in thousands) Beginning balance $ (3,435 ) $ (1,525 ) Other comprehensive income (loss) before reclassifications (3,009 ) (718 ) Ending Balance $ (6,444 ) $ (2,243 )

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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 six June 30, 2022 not December 31, 2021, 10 February 28, 2022. 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. The Company is not August 5, 2022, 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, Revenue from Contracts with Customers (Topic 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 record 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 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 June 30, Six months ended June 30, 2022 2021 2022 2021 ($ in thousands) ($ in thousands) Americas $ 28,854 $ 27,329 $ 55,397 $ 51,028 Europe, Middle East and Africa 10,749 10,803 21,243 20,665 Asia Pacific 2,505 2,538 5,029 4,860 Total $ 42,108 $ 40,670 $ 81,669 $ 76,553 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 From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and are general adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not not

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis for Presentation (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 ($ in thousands) ($ in thousands) Americas $ 28,854 $ 27,329 $ 55,397 $ 51,028 Europe, Middle East and Africa 10,749 10,803 21,243 20,665 Asia Pacific 2,505 2,538 5,029 4,860 Total $ 42,108 $ 40,670 $ 81,669 $ 76,553

Note 2 - Income Tax Expense (Ta

Note 2 - Income Tax Expense (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	Six months ended June 30, 2022 (in thousands) Unrecognized tax benefits as of December 31, 2021 $ 768 Additions/adjustments for tax positions of current year - Additions/adjustments for tax positions of prior years (66 ) Reductions for settlements with taxing authorities - Reductions for lapses of the applicable statutes of limitations - Unrecognized tax benefits as of June 30, 2022 $ 702

Note 3 - Inventories and Othe_2

Note 3 - Inventories and Other Deferred Costs (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2022 December 31, 2021 (in thousands) Raw materials $ 13,434 $ 5,945 Work-in-process 3,057 9,416 Finished products 25,269 25,286 Other deferred costs 5,432 5,457 Total inventory and other deferred costs $ 47,192 $ 46,104

Note 4 - Acquisitions (Tables)

Note 4 - Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2022
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
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Allocated Estimated Fair Value Useful Life (in thousands) Customer relationships $ 20,310 15.0 years Intellectual property 16,449 10.0 years Non-compete agreement 104 5.0 years Tradenames 2,193 10.0 years Total intangible assets $ 39,056

Note 6 - Goodwill and Other I_2

Note 6 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2022 December 31, 2021 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Value Amortization Value Value Amortization Value (in thousands) Product technology and intellectual property $ 29,549 $ 11,914 $ 17,635 $ 29,549 $ 10,473 $ 19,076 Trademarks, tradenames and licenses 3,647 1,338 2,309 3,647 1,139 2,508 Customer relationships 36,197 7,015 29,182 36,197 5,674 30,523 Other intangible assets 1,461 989 472 1,461 858 603 Total identifiable intangible assets $ 70,854 $ 21,256 $ 49,598 $ 70,854 $ 18,144 $ 52,710
Finite-Lived Intangible Assets Amortization Expense [Table Text Block]	Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Amortization expense $ 1,596 $ 1,562 $ 3,112 $ 3,128
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ended December 31, 2022 2023 2024 2025 2026 2027 (in thousands) Amortization expense $ 3,071 $ 5,952 $ 5,629 $ 5,429 $ 4,983 $ 4,706

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Lease, Cost [Table Text Block]	Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (in thousands) (in thousands) (in thousands) (in thousands) Lease cost Operating lease cost $ 638 $ 487 $ 1,163 $ 1,094 Short-term lease cost 161 126 324 190 Total lease cost $ 799 $ 613 $ 1,487 $ 1,284 Other information Cash paid for amounts included in the measurement of operating lease liabilities $ 810 $ 633 $ 1,484 $ 1,381 Right-of-use assets obtained in exchange for new operating lease liabilities $ 2,240 $ 1,261 $ 2,381 $ 1,277 Weighted average remaining lease term - operating leases (in years) 8.2 8.2 Weighted average discount rate - operating leases 4.88 % 4.86 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Remainder of 2022 $ 1,463 Year ending December 31, 2023 2,602 2024 2,547 2025 2,530 2026 2,489 2027 2,372 Thereafter 6,973 Adjustment to net present value as of June 30, 2022 (3,762 ) Minimum noncancelable lease liability $ 17,214

Note 9 - Accrued Expenses and_2

Note 9 - Accrued Expenses and Other Long-term Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2022 December 31, 2021 (in thousands) Compensation and related taxes $ 10,148 $ 10,236 Income and other taxes 669 551 Professional fees 121 129 Other 6,071 5,416 Total $ 17,009 $ 16,332
Other Noncurrent Liabilities [Table Text Block]	June 30, 2022 December 31, 2021 (in thousands) Aquisition-related liabilities $ 1,664 $ 1,761 Income taxes 691 799 Other 148 141 Total $ 2,503 $ 2,701

Note 10 - Segment and Enterpr_2

Note 10 - Segment and Enterprise-wide Disclosures (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) United States $ 26,228 $ 25,172 $ 50,492 $ 47,140 Germany 2,870 3,154 5,861 6,217 Other countries 13,010 12,344 25,316 23,196 Net Sales $ 42,108 $ 40,670 $ 81,669 $ 76,553

Note 11 - Share-based Compens_2

Note 11 - Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Stock option awards $ 607 $ 562 $ 1,226 $ 1,156 Restricted stock units 391 307 799 640 Performance-based restricted stock units 138 - 278 - Total share-based compensation $ 1,136 $ 869 $ 2,303 $ 1,796
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Cost of sales $ 135 $ 100 $ 273 $ 200 Sales and marketing 193 119 402 288 General and administrative 695 557 1,407 1,118 Research and development 113 93 221 190 Total stock-based compensation $ 1,136 $ 869 $ 2,303 $ 1,796

Note 12 - Net Income Per Share

Note 12 - Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Six months ended June 30, June 30, 2022 2021 2022 2021 (in thousands, except per share data) (in thousands, except per share data) Basic: Net income available for common stockholders $ 3,515 $ 8,299 $ 9,553 $ 14,228 Weighted average shares outstanding 21,958 20,611 21,947 20,579 Basic earnings per share $ 0.16 $ 0.40 $ 0.44 $ 0.69 Diluted: Net income available for common stockholders $ 3,515 $ 8,299 $ 9,553 $ 14,228 Weighted-average shares outstanding 21,958 20,611 21,947 20,579 Common stock equivalents, if dilutive 171 348 168 321 Shares used in computing diluted earnings per common share 22,129 20,959 22,115 20,900 Diluted earnings per share $ 0.16 $ 0.40 $ 0.43 $ 0.68 Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive 328 - 390 152

Note 13 - Stockholders' Equity

Note 13 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Dividends Payable [Table Text Block]	Record Date Payment Date Per Share Amount Dividend Payment (in thousands) Fiscal Year 2022 March 8, 2022 March 24, 2022 $ 0.125 $ 2,743 May 17, 2022 June 2, 2022 $ 0.125 $ 2,745 Fiscal Year 2021 March 9, 2021 March 25, 2021 $ 0.110 $ 2,262 May 19, 2021 June 3, 2021 $ 0.110 $ 2,267 August 26, 2021 September 9, 2021 $ 0.110 $ 2,401 November 19, 2021 December 2, 2021 $ 0.110 $ 2,405

Note 14 - Supplemental Cash F_2

Note 14 - Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	For the six months ended June 30, 2022 2021 (in thousands) Cash paid for income taxes, net $ 3,991 $ 6,236

Note 15 - Fair Value Measurem_2

Note 15 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Six months ended June 30, 2022 2021 (in thousands) Beginning balance $ 1,492 $ 2,240 Additions - - Payments - - Change in fair value included in earnings 27 61 Ending balance $ 1,519 $ 2,301

Note 16 - Accumulated Other C_2

Note 16 - Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Six months ended June 30, 2022 2021 (in thousands) Beginning balance $ (3,435 ) $ (1,525 ) Other comprehensive income (loss) before reclassifications (3,009 ) (718 ) Ending Balance $ (6,444 ) $ (2,243 )

Note 1 - Organization and Bas_3

Note 1 - Organization and Basis for Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2022
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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 42,108	$ 40,670	$ 81,669	$ 76,553
Americas [Member]
Revenue	28,854	27,329	55,397	51,028
EMEA [Member]
Revenue	10,749	10,803	21,243	20,665
Asia Pacific [Member]
Revenue	$ 2,505	$ 2,538	$ 5,029	$ 4,860

Note 2 - Income Tax Expense (De

Note 2 - Income Tax Expense (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Unrecognized Tax Benefits, Ending Balance	$ 702,000	$ 768,000
Domestic Tax Authority [Member]
Open Tax Year	2018 2019 2020 2021
Foreign Tax Authority [Member]
Open Tax Year	2014 2015 2016 2017 2018 2019 2020 2021

Note 2 - Income Tax Expense - R

Note 2 - Income Tax Expense - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)
Unrecognized tax benefits	$ 768,000
Additions/adjustments for tax positions of current year	0
Additions/adjustments for tax positions of prior years	(66,000)
Reductions for settlements with taxing authorities	0
Reductions for lapses of the applicable statutes of limitations	0
Unrecognized tax benefits	$ 702,000

Note 3 - Inventories and Othe_3

Note 3 - Inventories and Other Deferred Costs (Details Textual) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	$ 1.8	$ 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	Jun. 30, 2022	Dec. 31, 2021
Raw materials	$ 13,434	$ 5,945
Work-in-process	3,057	9,416
Finished products	25,269	25,286
Other deferred costs	5,432	5,457
Total inventory and other deferred costs	$ 47,192	$ 46,104

Note 4 - Acquisitions (Details

Note 4 - Acquisitions (Details Textual) - Artegraft Inc [Member]	Jun. 22, 2020 USD ($)	Jun. 30, 2022 USD ($)
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
First Earn-out [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 5,800,000
Business Combination, Contingent Consideration, Unit Sales	20,000
Second Earn-out [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 5,800,000
Business Combination, Contingent Consideration, Unit Sales	24,000
Third Earn-out [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 5,800,000
Business Combination, Contingent Consideration, Unit Sales	28,800
Catch-Up Payment [Member]
Business Combination, Contingent Consideration, Liability, Total	$ 400,000	$ 200,000
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%
Business Combination, Contingent Consideration, Before Multiplied by Fraction	$ 17,500,000
Business Combination, Contingent Consideration, Denominator, Less Amount Paid	72,800
Maximum [Member]
Business Combination, Consideration Transferred, Total	$ 90,000,000

Note 4 - Acquisitions - Assets

Note 4 - Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 22, 2020
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

Note 4 - Acquisitions - Acquire

Note 4 - Acquisitions - Acquired Intangible Assets and Related Estimated Useful Lives (Details) - Artegraft Inc [Member] $ in Thousands	Jun. 22, 2020 USD ($)
Allocated Fair Value	$ 39,056
Weighted Average Useful Life (Year)	12 years 7 months 6 days
Customer Relationships [Member]
Allocated Fair Value	$ 20,310
Weighted Average Useful Life (Year)	15 years
Intellectual Property [Member]
Allocated Fair Value	$ 16,449
Weighted Average Useful Life (Year)	10 years
Noncompete Agreements [Member]
Allocated Fair Value	$ 104
Weighted Average Useful Life (Year)	5 years
Trade Names [Member]
Allocated Fair Value	$ 2,193
Weighted Average Useful Life (Year)	10 years

Note 5 - Divestitures (Details

Note 5 - Divestitures (Details Textual) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Restructuring Charges, Total	$ 3.1	$ 3.1

Note 6 - Goodwill and Other I_3

Note 6 - Goodwill and Other Intangible Assets (Details Textual)	6 Months Ended
	Jun. 30, 2022
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 1 month 6 days

Note 6 - Goodwill and Other I_4

Note 6 - Goodwill and Other Intangible Assets - Components of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Gross carrying value	$ 70,854	$ 70,854
Accumulated amortization	21,256	18,144
Net carrying value	49,598	52,710
Product Technology and Intellectual Property [Member]
Gross carrying value	29,549	29,549
Accumulated amortization	11,914	10,473
Net carrying value	17,635	19,076
Trademarks, Tradenames and Licenses [Member]
Gross carrying value	3,647	3,647
Accumulated amortization	1,338	1,139
Net carrying value	2,309	2,508
Customer Relationships [Member]
Gross carrying value	36,197	36,197
Accumulated amortization	7,015	5,674
Net carrying value	29,182	30,523
Other Intangible Assets [Member]
Gross carrying value	1,461	1,461
Accumulated amortization	989	858
Net carrying value	$ 472	$ 603

Note 6 - Goodwill and Other I_5

Note 6 - Goodwill and Other Intangible Assets - Amortization Expense Included in General and Administrative Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Amortization expense	$ 1,596	$ 1,562	$ 3,112	$ 3,128

Note 6 - Goodwill and Other I_6

Note 6 - Goodwill and Other Intangible Assets - Estimated Amortization Expense for Each of Five Succeeding Fiscal Years (Details) $ in Thousands	Jun. 30, 2022 USD ($)
2022	$ 3,071
2023	5,952
2024	5,629
2025	5,429
2026	4,983
2027	$ 4,706

Note 7 - Revolving Line of Cr_2

Note 7 - Revolving Line of Credit and Long-term Debt (Details Textual) - Senior Secured Credit Facility [Member] - USD ($) $ in Millions		6 Months Ended	12 Months Ended
	Jun. 22, 2020	Jun. 30, 2021	Dec. 31, 2021
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		$ 0.7
Term Loan [Member]
Debt Instrument, Face Amount	$ 40
Debt Instrument, Term (Year)	5 years
Repayments of Long-Term Debt, Total		1	$ 1
Repayments of Long-Term Lines of Credit		$ 15
Debt Instrument, Interest Rate, Effective Percentage		3.25%
Amortization of Debt Issuance Costs		$ 0.3
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
Revolving Credit Facility [Member] | Other Assets [Member]
Debt Issuance Costs, Line of Credit Arrangements, Net, Total	$ 0.7

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual) $ in Thousands	Jun. 30, 2022 USD ($) ft²	Mar. 31, 2022 ft²	Jun. 30, 2021
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%
SINGAPORE
Lessee, Operating Lease, Renewal Term (Year)	1 year
North Brunswick, New Jersey [Member] | Artegraft Inc [Member]
Area of Real Estate Property (Square Foot)	16,732
ARIZONA
Lessee, Operating Lease, Renewal Term (Year)	3 years
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)	21,410	16,470
Area of Real Estate Property, Increase (Square Foot)	4,940
Lessee, Operating Lease, Renewal Term (Year)	5 years
Office Space in Seoul, Korea [Member]
Area of Real Estate Property (Square Foot)	2,300
Customer Service and Warehouse Facility [Member] | ITALY
Lessee, Operating Lease, Renewal Term (Year)			6 years
Lessee, Operating Lease, Term of Contract (Year)			6 years
Leased Automobiles [Member]
Lessee, Operating Lease, Term of Contract (Year)	3 years
Leased Printing Equipment [Member]
Lessee, Operating Lease, Term of Contract (Year)			5 years

Note 8 - Leases - Additional Le

Note 8 - Leases - Additional Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating lease cost	$ 638	$ 487	$ 1,163	$ 1,094
Short-term lease cost	161	126	324	190
Total lease cost	799	613	1,487	1,284
Cash paid for amounts included in the measurement of operating lease liabilities	810	633	1,484	1,381
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 2,240	$ 1,261	$ 2,381	$ 1,277
Weighted average remaining lease term - operating leases (in years) (Year)	8 years 2 months 12 days	8 years 2 months 12 days	8 years 2 months 12 days	8 years 2 months 12 days
Weighted average discount rate - operating leases	4.88%	4.86%	4.88%	4.86%

Note 8 - Leases - Minimum Renta

Note 8 - Leases - Minimum Rental Commitments (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Remainder of 2022	$ 1,463
2023	2,602
2024	2,547
2025	2,530
2026	2,489
2027	2,372
Thereafter	6,973
Adjustment to net present value as of June 30, 2022	(3,762)
Minimum noncancelable lease liability	$ 17,214

Note 9 - Accrued Expenses and_3

Note 9 - Accrued Expenses and Other Long-term Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Compensation and related taxes	$ 10,148	$ 10,236
Income and other taxes	669	551
Professional fees	121	129
Other	6,071	5,416
Total	$ 17,009	$ 16,332

Note 9 - Accrued Expenses and_4

Note 9 - Accrued Expenses and Other Long-term Liabilities - Other Long-term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Aquisition-related liabilities	$ 1,664	$ 1,761
Income taxes	691	799
Other	148	141
Total	$ 2,503	$ 2,701

Note 10 - Segment and Enterpr_3

Note 10 - Segment and Enterprise-wide Disclosures (Details Textual)	6 Months Ended
	Jun. 30, 2022
Number of Operating Segments	1

Note 10 - Segment and Enterpr_4

Note 10 - Segment and Enterprise-wide Disclosures - Net Sales to Unaffiliated Customers by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Sales	$ 42,108	$ 40,670	$ 81,669	$ 76,553
UNITED STATES
Net Sales	26,228	25,172	50,492	47,140
GERMANY
Net Sales	2,870	3,154	5,861	6,217
Other Countries [Member]
Net Sales	$ 13,010	$ 12,344	$ 25,316	$ 23,196

Note 11 - Share-based Compens_3

Note 11 - Share-based Compensation (Details Textual) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	984	0
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture, Total (in shares)	43,000	140,000
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	320	1,157
Performance-based Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	250	0

Note 11 - Share-based Compens_4

Note 11 - Share-based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-based compensation	$ 1,136	$ 869	$ 2,303	$ 1,796
Share-Based Payment Arrangement, Option [Member]
Stock-based compensation	607	562	1,226	1,156
Restricted Stock Units (RSUs) [Member]
Stock-based compensation	391	307	799	640
Performance-based Restricted Units [Member]
Stock-based compensation	$ 138	$ 0	$ 278	$ 0

Note 11 - Share-based Compens_5

Note 11 - Share-based Compensation - Schedule of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total stock-based compensation	$ 1,136	$ 869	$ 2,303	$ 1,796
Cost of Sales [Member]
Total stock-based compensation	135	100	273	200
Selling and Marketing Expense [Member]
Total stock-based compensation	193	119	402	288
General and Administrative Expense [Member]
Total stock-based compensation	695	557	1,407	1,118
Research and Development Expense [Member]
Total stock-based compensation	$ 113	$ 93	$ 221	$ 190

Note 12 - Net Income per Shar_2

Note 12 - 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				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 3,515	$ 6,038	$ 8,299	$ 5,929	$ 9,553	$ 14,228
Weighted average shares outstanding (in shares)	21,958		20,611		21,947	20,579
Basic earnings per share (in dollars per share)	$ 0.16		$ 0.40		$ 0.44	$ 0.69
Common stock equivalents, if dilutive (in shares)	171		348		168	321
Shares used in computing diluted earnings per common share (in shares)	22,129		20,959		22,115	20,900
Diluted earnings per share (in dollars per share)	$ 0.16		$ 0.40		$ 0.43	$ 0.68
Shares excluded in computing diluted earnings per share as those shares would be anti-dilutive (in shares)	328		0		390	152

Note 13 - Stockholders' Equit_2

Note 13 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		3 Months Ended				6 Months Ended
	Jul. 26, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Feb. 22, 2022
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.125		$ 0.110		$ 0.250	$ 0.220
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.125
Dividends Payable, Date to be Paid	Sep. 08, 2022
Dividends Payable, Date of Record	Aug. 25, 2022
Common Stock [Member]
Treasury Stock, Shares, Acquired (in shares)
Stock Repurchase Program [Member] | Common Stock [Member]
Stock Repurchase Program, Authorized Amount								$ 20
Treasury Stock, Shares, Acquired (in shares)						0

Note 13 - Stockholders' Equit_3

Note 13 - Stockholders' Equity - Dividend Activity (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Mar. 31, 2022
Per share amount (in dollars per share)	$ 0.125	$ 0.110	$ 0.250	$ 0.220
Quarterly Dividends 1 [Member]
Payment date			Mar. 24, 2022
Per share amount (in dollars per share)			$ 0.125
Dividend payment						$ 2,743,000
Quarterly Dividends 2 [Member]
Payment date			Jun. 02, 2022
Per share amount (in dollars per share)			$ 0.125
Dividend payment					$ 2,745,000
Quarterly Dividends 3 [Member]
Payment date					Mar. 25, 2021
Per share amount (in dollars per share)					$ 0.110
Dividend payment					$ 2,262,000
Quarterly Dividends 4 [Member]
Payment date					Jun. 03, 2021
Per share amount (in dollars per share)					$ 0.110
Dividend payment					$ 2,267,000
Quarterly Dividends 5 [Member]
Payment date					Sep. 09, 2021
Per share amount (in dollars per share)					$ 0.110
Dividend payment					$ 2,401,000
Quarterly Dividends 6 [Member]
Payment date					Dec. 02, 2021
Per share amount (in dollars per share)					$ 0.110
Dividend payment					$ 2,405

Note 14 - Supplemental Cash F_3

Note 14 - Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash paid for income taxes, net	$ 3,991	$ 6,236

Note 15 - Fair Value Measurem_3

Note 15 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2022	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
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
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 15 - Fair Value Measurem_4

Note 15 - Fair Value Measurements - Roll-forward of the Fair Value as Determined by Level 3 (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Beginning balance	$ 1,492	$ 2,240
Additions	0	0
Payments	0	0
Change in fair value included in earnings	27	61
Ending balance	$ 1,519	$ 2,301

Note 16 - Accumulated Other C_3

Note 16 - Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Balance	$ 254,151	$ 172,572
Balance	258,033	185,833
AOCI Attributable to Parent [Member]
Balance	(3,435)	(1,525)
Other comprehensive income (loss) before reclassifications	(3,009)	(718)
Balance	$ (6,444)	$ (2,243)