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LENSAR, Inc. (LNSR) is at the forefront of next-generation femtosecond laser technology, specializing in refractive cataract surgery. The company's flagship product, the LENSAR Laser System, offers unmatched precision and accuracy, optimizing visual outcomes for cataract patients. This cutting-edge system features the proprietary Augmented Reality™, LENSAR’s advanced 3-D imaging, measurement, and guidance technology. By providing high-resolution ocular images in a single scan, the system ensures precise surgical incisions and treatments, all within a single procedure room.
Unlike other femtosecond cataract lasers, the LENSAR Laser System is specifically built for refractive cataract surgery. Designed from the ground up with the needs of cataract surgeons in mind, the system integrates a suite of proprietary technologies aimed at improving visual outcomes, efficiency, and reproducibility. These technologies include Streamline IV and IntelliAxis, which assist surgeons with imaging, procedure planning, and precision.
At its core, LENSAR, Inc. is a commercial-stage medical device company committed to revolutionizing refractive eye surgery. Their product portfolio extends beyond the laser system to include the associated consumable components, such as the disposable patient interface device (PID) kits and procedure licenses necessary for each surgical procedure.
LENSAR's focus on innovation doesn't stop at technology. They are dedicated to building a vibrant team of talented and motivated individuals who share their passion for making a significant impact on patients' lives. The company continues to push the boundaries of what's possible in refractive cataract surgery, ensuring that their technology remains at the cutting edge of medical advancements.
LENSAR (Nasdaq: LNSR) announced that its board of directors has granted stock options to four newly-hired non-executive employees. The grants total 2,475 shares of common stock at an exercise price of $7.70 per share, matching the closing price on December 8, 2024. The options will vest 25% after one year from December 2, 2024, with the remaining amount vesting in 36 monthly installments. Each option has a 10-year term and was granted under LENSAR's 2024 Employment Inducement Incentive Award Plan.
LENSAR (Nasdaq: LNSR), a global medical technology company specializing in robotic laser solutions for cataract treatment, announced its participation in the BTIG 4th Annual Ophthalmology Day. CEO Nick Curtis will engage in a fireside chat on December 2, 2024, at 2 p.m. ET. The company's management team will also conduct one-on-one meetings with institutional investors. The event is exclusively for current and prospective BTIG clients, who must contact their BTIG representative to access the live event.
LENSAR reported its Q3 2024 results, showing significant growth and operational updates. The company placed 24 ALLY Robotic Laser Cataract Systems™, including 11 sales in the EU and Southeast Asia, with a backlog of 24 systems pending installation. Revenue grew by 38% year-over-year to $13.5 million, driven by regulatory certifications in the EU and Taiwan. Recurring revenue grew 22% over the past twelve months. Worldwide procedure volumes increased by 29%, and the installed system base grew by 20%. The company's market share in the U.S. increased by 3.5% to 19.9%. Operating expenses rose to $7.5 million, but operating loss improved to $1.3 million. Net loss was $1.5 million, or ($0.13) per share, compared to net income of $2.6 million in Q3 2023. EBITDA was ($0.6) million, with adjusted EBITDA achieving break-even. Cash balance was $18.6 million as of September 30, 2024.
LENSAR announced the granting of stock options to two newly-hired non-executive employees as employment inducements. The grants, approved by independent board members, total 650 shares with an exercise price of $5.38 per share, matching the closing price on November 1, 2024. The options vest 25% after one year, followed by 36 monthly installments, contingent on continued employment. The 10-year term options are governed by LENSAR's 2024 Employment Inducement Incentive Award Plan.
LENSAR (Nasdaq: LNSR), a global medical technology company specializing in robotic laser solutions for cataract treatment, has announced it will release its third quarter 2024 financial results before market open on Thursday, November 7, 2024. The company will host a conference call and webcast at 8:30 am ET on the same day to discuss financial results and recent corporate highlights. Participants can join via telephone or access the live webcast through LENSAR's website investor section.
LENSAR, Inc. (Nasdaq: LNSR), a global medical technology company specializing in advanced robotic laser solutions for cataract treatment, has announced a significant milestone: over one million procedures have been performed using its technology. Nick Curtis, President and CEO of LENSAR, emphasized the company's commitment to providing innovative robotic laser solutions that enhance clinical efficiencies and outcomes while revolutionizing the patient and surgical experience.
LENSAR introduced its cataract laser LLS platform in 2012 and has since developed the ALLY System, designed for robotic, laser cataract surgery. The ALLY System uniquely combines robotic intelligence and precision with surgeon expertise to deliver advanced cataract procedures aimed at consistently improving clinical outcomes and patient experiences. LENSAR remains the only company focused on robotic laser cataract surgery and plans to continue optimizing premium laser cataract surgery to bring greater value to surgeons, their staff, and patients.
LENSAR, Inc. (Nasdaq: LNSR) has announced the granting of stock options to two newly-hired non-executive employees as inducement awards. These options, approved by a majority of independent board members, allow the purchase of a total of 875 shares of the Company's common stock. The grants, made on October 1, 2024, comply with Nasdaq Listing Rule 5635(c)(4).
Key details of the stock options include:
- Exercise price: $4.40 per share (equal to the closing price on the grant date)
- Vesting schedule: 25% after one year, followed by 36 monthly installments
- Term: 10 years
- Subject to LENSAR's 2024 Employment Inducement Incentive Award Plan
LENSAR (Nasdaq: LNSR) has announced the granting of stock options to three newly-hired non-executive employees as inducement awards. The options, totaling 2,425 shares of the Company's common stock, were granted on September 3, 2024, with an exercise price of $4.63 per share, matching the closing price on the grant date. These options vest over four years, with 25% vesting after one year and the remainder in 36 monthly installments, subject to continued employment. The options have a 10-year term and are governed by LENSAR's 2024 Employment Inducement Incentive Award Plan.
LENSAR (Nasdaq: LNSR), a global medical technology company specializing in advanced laser solutions for cataract treatment, has announced its participation in two upcoming investor conferences. The company will be part of the H.C. Wainwright 26th Annual Global Investment Conference, offering an on-demand presentation available from September 9, 2024, at 7:00 a.m. Eastern Time. Additionally, LENSAR management will attend the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference on September 12, 2024, in New York, where they will conduct one-on-one meetings with institutional investors.
Investors can access the H.C. Wainwright presentation through the Investors section of LENSAR's website at https://ir.lensar.com. These conferences provide LENSAR with opportunities to showcase its innovative cataract treatment technologies and engage with potential investors.
LENSAR (NASDAQ: LNSR) reported strong Q2 2024 results, with total revenue of $12.6 million, up 5% year-over-year. Highlights include:
- Record 17 new ALLY® System placements, highest since launch
- Worldwide procedure volume increased 19% over Q2 2023
- Installed system base grew 16% year-over-year
- Received CE Mark approval for ALLY System
- 79% of revenue from recurring sources
Despite growth, LENSAR reported a net loss of $9.0 million ($0.79 per share). The company ended Q2 with $15.4 million in cash and investments. LENSAR's CEO Nick Curtis expressed optimism about continued growth and market share expansion.
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