LENSAR Reports Fourth Quarter and Full Year 2024 Results and Provides Business Update
LENSAR (NASDAQ: LNSR) reported strong Q4 and full-year 2024 results, with significant growth in ALLY Robotic Cataract Laser System placements and revenue. The company placed 31 ALLY systems in Q4, contributing to over 80 placements in 2024 - an 86% increase over 2023. Total installed systems reached approximately 385, up 26% from 2023.
Q4 2024 revenue increased 38% to $16.7 million, while full-year revenue grew 27% to $53.5 million. Recurring revenue exceeded $40 million for the year, up 23%. Worldwide procedure volumes grew 24% to nearly 170,000, with U.S. market share exceeding 20%. Despite positive operational metrics, the company reported a Q4 net loss of $18.7 million, primarily due to warrant liability changes from stock price appreciation.
For 2025, LENSAR expects revenue growth to accelerate beyond the 27% achieved in 2024, with Q1 2025 growth projected at 27% and further acceleration in subsequent quarters. The company anticipates achieving positive Adjusted EBITDA in 2025.
LENSAR (NASDAQ: LNSR) ha riportato risultati solidi per il quarto trimestre e per l'intero anno 2024, con una crescita significativa nelle installazioni e nei ricavi del sistema laser catarattale robotico ALLY. L'azienda ha installato 31 sistemi ALLY nel Q4, contribuendo a oltre 80 installazioni nel 2024, con un aumento dell'86% rispetto al 2023. Il numero totale di sistemi installati ha raggiunto circa 385, con un incremento del 26% rispetto al 2023.
I ricavi del Q4 2024 sono aumentati del 38% a 16,7 milioni di dollari, mentre i ricavi dell'intero anno sono cresciuti del 27% a 53,5 milioni di dollari. I ricavi ricorrenti hanno superato i 40 milioni di dollari per l'anno, in aumento del 23%. I volumi globali delle procedure sono cresciuti del 24% a quasi 170.000, con una quota di mercato negli Stati Uniti che supera il 20%. Nonostante i parametri operativi positivi, l'azienda ha registrato una perdita netta di 18,7 milioni di dollari nel Q4, principalmente a causa delle variazioni della responsabilità per warrants dovute all'apprezzamento del prezzo delle azioni.
Per il 2025, LENSAR prevede che la crescita dei ricavi acceleri oltre il 27% raggiunto nel 2024, con una crescita prevista del 27% nel Q1 2025 e un ulteriore accelerazione nei trimestri successivi. L'azienda si aspetta di raggiungere un EBITDA rettificato positivo nel 2025.
LENSAR (NASDAQ: LNSR) reportó resultados sólidos para el cuarto trimestre y para todo el año 2024, con un crecimiento significativo en las colocaciones y los ingresos del sistema láser de cataratas robótico ALLY. La compañía colocó 31 sistemas ALLY en el Q4, contribuyendo a más de 80 colocaciones en 2024, un aumento del 86% en comparación con 2023. El número total de sistemas instalados alcanzó aproximadamente 385, un incremento del 26% respecto a 2023.
Los ingresos del Q4 2024 aumentaron un 38% a 16,7 millones de dólares, mientras que los ingresos anuales crecieron un 27% a 53,5 millones de dólares. Los ingresos recurrentes superaron los 40 millones de dólares para el año, un aumento del 23%. Los volúmenes de procedimientos a nivel mundial crecieron un 24% a casi 170,000, con una cuota de mercado en EE. UU. que supera el 20%. A pesar de los métricas operativas positivas, la compañía reportó una pérdida neta de 18,7 millones de dólares en el Q4, principalmente debido a cambios en la responsabilidad por warrants derivados de la apreciación del precio de las acciones.
Para 2025, LENSAR espera que el crecimiento de los ingresos se acelere más allá del 27% logrado en 2024, con un crecimiento proyectado del 27% en el Q1 2025 y una mayor aceleración en los trimestres siguientes. La compañía anticipa alcanzar un EBITDA ajustado positivo en 2025.
LENSAR (NASDAQ: LNSR)는 2024년 4분기 및 전체 연도 결과를 발표하며 ALLY 로봇 백내장 레이저 시스템의 배치 및 수익에서 상당한 성장을 기록했습니다. 회사는 4분기에 31개의 ALLY 시스템을 배치하여 2024년 80개 이상의 배치에 기여했으며, 이는 2023년 대비 86% 증가한 수치입니다. 총 설치 시스템 수는 약 385개로, 2023년 대비 26% 증가했습니다.
2024년 4분기 수익은 38% 증가하여 1,670만 달러에 달했으며, 연간 수익은 27% 증가하여 5,350만 달러에 이르렀습니다. 반복 수익은 연간 4천만 달러를 초과하며 23% 증가했습니다. 전 세계 절차량은 24% 증가하여 거의 170,000건에 달하며, 미국 시장 점유율은 20%를 초과했습니다. 긍정적인 운영 지표에도 불구하고, 회사는 4분기에 1,870만 달러의 순손실을 기록했으며, 이는 주가 상승으로 인한 워런트 책임 변화가 주된 원인입니다.
2025년을 위해 LENSAR는 2024년에 달성한 27%를 넘어서는 수익 성장을 기대하고 있으며, 2025년 1분기 성장률은 27%로 예상되며 이후 분기에서 추가적인 가속화를 예상하고 있습니다. 회사는 2025년에 긍정적인 조정 EBITDA를 달성할 것으로 예상하고 있습니다.
LENSAR (NASDAQ: LNSR) a annoncé des résultats solides pour le quatrième trimestre et pour l'année entière 2024, avec une croissance significative des placements et des revenus du système laser de cataracte robotisé ALLY. L'entreprise a placé 31 systèmes ALLY au Q4, contribuant à plus de 80 placements en 2024, soit une augmentation de 86% par rapport à 2023. Le nombre total de systèmes installés a atteint environ 385, en hausse de 26% par rapport à 2023.
Les revenus du Q4 2024 ont augmenté de 38% pour atteindre 16,7 millions de dollars, tandis que les revenus annuels ont crû de 27% pour atteindre 53,5 millions de dollars. Les revenus récurrents ont dépassé 40 millions de dollars pour l'année, en hausse de 23%. Les volumes mondiaux de procédures ont augmenté de 24% pour atteindre près de 170 000, avec une part de marché aux États-Unis dépassant 20%. Malgré des indicateurs opérationnels positifs, l'entreprise a enregistré une perte nette de 18,7 millions de dollars au Q4, principalement en raison des variations de responsabilité liées aux warrants dues à l'appréciation du prix des actions.
Pour 2025, LENSAR s'attend à ce que la croissance des revenus s'accélère au-delà des 27% réalisés en 2024, avec une croissance projetée de 27% au Q1 2025 et une accélération supplémentaire au cours des trimestres suivants. L'entreprise prévoit d'atteindre un EBITDA ajusté positif en 2025.
LENSAR (NASDAQ: LNSR) hat starke Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet, mit einem signifikanten Wachstum bei den Platzierungen und Einnahmen des ALLY robotischen Katarakt-Lasersystems. Das Unternehmen hat 31 ALLY-Systeme im Q4 platziert, was zu über 80 Platzierungen im Jahr 2024 beigetragen hat - ein Anstieg von 86% im Vergleich zu 2023. Die Gesamtzahl der installierten Systeme erreichte etwa 385, was einem Anstieg von 26% gegenüber 2023 entspricht.
Die Einnahmen im Q4 2024 stiegen um 38% auf 16,7 Millionen Dollar, während die Gesamteinnahmen für das Jahr um 27% auf 53,5 Millionen Dollar wuchsen. Die wiederkehrenden Einnahmen überstiegen 40 Millionen Dollar für das Jahr, was einem Anstieg von 23% entspricht. Die weltweiten Verfahrenszahlen stiegen um 24% auf fast 170.000, wobei der Marktanteil in den USA 20% überstieg. Trotz positiver betrieblicher Kennzahlen berichtete das Unternehmen von einem Nettoverlust von 18,7 Millionen Dollar im Q4, hauptsächlich aufgrund von Änderungen der Verbindlichkeiten aus Warrants durch die Wertsteigerung der Aktien.
Für 2025 erwartet LENSAR, dass das Umsatzwachstum über die 27% hinausgeht, die im Jahr 2024 erreicht wurden, mit einem prognostizierten Wachstum von 27% im Q1 2025 und einer weiteren Beschleunigung in den folgenden Quartalen. Das Unternehmen rechnet damit, 2025 ein positives bereinigtes EBITDA zu erreichen.
- 31 ALLY system placements in Q4, 80+ total in 2024 (+86% YoY)
- Q4 revenue up 38% to $16.7M, full-year revenue up 27% to $53.5M
- Recurring revenue exceeded $40M (+23% YoY)
- U.S. market share surpassed 20% for first time
- Total installed base up 26% to 385 systems
- Worldwide procedure volumes up 24% to 170,000
- Q4 net loss increased to $18.7M from $3.9M YoY
- Full-year net loss widened to $31.4M from $14.4M
- Cash position decreased to $22.5M from $24.6M YoY
- $3.7M impairment of intangible assets in 2024
Insights
LENSAR's Q4 and full-year 2024 results reveal a company gaining significant market momentum in the robotic cataract laser segment. The 38% Q4 revenue growth to
The recurring revenue model is proving particularly effective, with procedure-based revenue exceeding
The company's financial transformation is evident in its second consecutive quarter of positive Adjusted EBITDA (
The high percentage (
Management's guidance for accelerated growth in 2025 appears well-supported by current trends, regulatory clearances in new markets (EU and Taiwan), and the expanding installed base. While increased selling and marketing expenses will continue to support this growth trajectory, the company's improving operational efficiency suggests a path to sustained profitability beyond the positive Adjusted EBITDA already achieved.
LENSAR's impressive Q4 results demonstrate that its ALLY Robotic Cataract Laser System is rapidly becoming a preferred technology platform in precision cataract surgery. The 31 ALLY systems placed in Q4 and over 80 placements for full-year 2024 represent significant market penetration in a traditionally conservative ophthalmology market. This
What's particularly telling is that
The procedure volume growth (
The recent EU and Taiwan regulatory clearances open significant new markets, particularly in Europe where femtosecond laser-assisted cataract surgery (FLACS) has strong adoption in premium surgical centers. With an aging global population and increasing demand for premium cataract procedures that optimize refractive outcomes, LENSAR's expanded geographic footprint positions it well for continued growth.
While R&D spending decreased
31 ALLY Robotic Cataract Laser Systems™ placed in Q4 2024, representing an
Fourth quarter 2024 revenue increased
Recurring revenue exceeds
ORLANDO, Fla., Feb. 27, 2025 (GLOBE NEWSWIRE) -- LENSAR, Inc. (Nasdaq: LNSR) (“LENSAR” or the “Company), a global medical technology company focused on advanced robotic laser solutions for the treatment of cataracts, today announced financial results for the fourth quarter and full year ended December 31, 2024 and provided an update on key operational initiatives.
“The fourth quarter marked an incredibly strong conclusion to a successful year across all of LENSAR’s key operating metrics. We placed 31 ALLY systems in Q4 for a total of over 80 placements in 2024, and have 16 additional ALLY systems in backlog at the end of the year. This impressive placement activity continued to build our recurring revenue base, which exceeded
Fourth Quarter 2024 Financial Results
Total revenue for the quarter ended December 31, 2024 was
Selling, general and administrative expenses for the quarter ended December 31, 2024 were
Research and development expenses were
Total operating expenses for the quarter ended December 31, 2024 were
Net loss for the quarter ended December 31, 2024, was
Adjusted EBITDA, which we calculate by adding back stock-based compensation expense, change in fair value of warrant liabilities, impairment of intangible assets and the Employee Retention Credit (“ERC”) to EBITDA, was
Full Year 2024 Financial Results
Total revenue for the year ended December 31, 2024 was
The following table provides information about revenue and revenue attributable to recurring sources, which we consider to be all components of our revenue except for the sales of our systems:
Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||
(Dollars in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||||||
System | $ | 5,941 | $ | 3,310 | $ | 13,345 | $ | 9,561 | ||||||||
Recurring source revenue: | ||||||||||||||||
Procedure | 7,579 | 6,142 | 27,720 | 22,082 | ||||||||||||
Lease | 1,909 | 1,604 | 7,532 | 6,448 | ||||||||||||
Service | 1,302 | 1,049 | 4,897 | 4,073 | ||||||||||||
Total recurring source revenue | 10,790 | 8,795 | 40,149 | 32,603 | ||||||||||||
Total revenue | $ | 16,731 | $ | 12,105 | $ | 53,494 | $ | 42,164 | ||||||||
Recurring source revenue % | 64 | % | 73 | % | 75 | % | 77 | % | ||||||||
The following table provides information about procedure volume:
2024 | 2023 | 2022 | |||||
Q1 | 39,486 | 31,600* | 38,901 | ||||
Q2 | 42,203 | 35,349 | 33,359 | ||||
Q3 | 42,231 | 32,649 | 28,453 | ||||
Q4 | 45,586 | 37,414 | 31,400 | ||||
Total | 169,506 | 137,012 | 132,113 |
* The decrease in the first quarter of 2023 was primarily due to the elimination of procedures in South Korea as a result of the ongoing reimbursement issues with private payors.
Selling, general, and administrative expenses for the year ended December 31, 2024 were
Research and development expenses were
Total operating expenses for the year ended December 31, 2024 were
Net loss for the year ended December 31, 2024 was
Adjusted EBITDA was (
As of December 31, 2024, the Company had cash, cash equivalents, and investments of
Financial Outlook for 2025
Driven by sustained strong demand for ALLY Systems, the mid-2024 regulatory clearances in the EU and Taiwan, and new customers accounting for approximately
Conference Call:
LENSAR management will host a conference call and live webcast to discuss the fourth quarter and full year results and provide a business update today, February 27, 2025, at 8:30 a.m. ET.
To participate by telephone, please use this registration link. All participants must use the link to complete the online registration process in advance of the conference call. The live webcast can be accessed under “Events & Presentations” in the Investor Relations section of the Company’s website at https://ir.lensar.com. Please log in approximately 5 to 10 minutes prior to the call to register and to download and install any necessary software. The call and webcast replay will be available until March 20, 2025.
About LENSAR
LENSAR is a commercial-stage medical device company focused on designing, developing, and marketing advanced systems for the treatment of cataracts and the management of astigmatism as an integral aspect of the procedure. LENSAR has developed its ALLY Robotic Cataract Laser System™ as a compact, highly ergonomic system utilizing an extremely fast dual-modality laser and integrating AI into proprietary imaging and software. ALLY is designed to transform premium cataract surgery by utilizing LENSAR’s advanced robotic technologies with the ability to perform the entire procedure in a sterile operating room or in-office surgical suite, delivering operational efficiencies and reduced overhead. ALLY includes LENSAR’s proprietary Streamline® software technology, designed to guide surgeons to achieve better outcomes.
Forward-looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s business strategies, expected growth, including expected system placements and recurring revenue, the ALLY System’s performance, market adoption and usage, including in non-U.S. jurisdictions, the Company’s position within applicable markets, the Company’s expected financial performance, including profitability targets. In some cases, you can identify forward-looking statements by terms such as “aim,” “anticipate,” “approach,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “goal,” “intend,” “look,” “may,” “mission,” “plan,” “possible,” “potential,” “predict,” “project,” “pursue,” “should,” “target,” “will,” “would,” or the negative thereof and similar words and expressions.
Forward-looking statements are based on management’s current expectations, beliefs and assumptions and on information currently available to us. Such statements are subject to a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various important factors, including, but not limited to: our history of operating losses and ability to achieve or sustain profitability; our ability to develop, receive and maintain regulatory clearance or certification of and successfully commercialize the ALLY System and to maintain our LENSAR Laser System; the impact to our business, financial condition, results of operations and our suppliers and distributors as a result of global macroeconomic conditions; the willingness of patients to pay the price difference for our products compared to a standard cataract procedure covered by Medicare or other insurance; our ability to grow our U.S. sales and marketing organization or maintain or grow an effective network of international distributors; our future capital needs and our ability to raise additional funds on acceptable terms, or at all; the impact to our business, financial condition and results of operations as a result of a material disruption to the supply or manufacture of our systems or necessary component parts for such system or material inflationary pressures affecting pricing of component parts; our ability to compete against competitors that have longer operating histories, more established products and greater resources than we do; our ability to address the numerous risks associated with marketing, selling and leasing our products in markets outside the United States; the impact to our business, financial condition and results of operations as a result of exposure to the credit risk of our customers; our ability to accurately forecast customer demand and our inventory levels; the impact to our business, financial condition and results of operations if we are unable to secure adequate coverage or reimbursement by government or other third-party payors for procedures using our ALLY System or our other products, or changes in such coverage or reimbursement; the impact to our business, financial condition and results of operations of product liability suits brought against us; risks related to government regulation applicable to our products and operations; risks related to our intellectual property and other intellectual property matters; and the other important factors that are disclosed under the heading “Risk Factors” contained in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in the Company’s other filings with the SEC, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, to be filed with the SEC, each accessible on the SEC’s website at www.sec.gov and the Investor Relations section of the Company’s website at https://ir.lensar.com.
All forward-looking statements are expressly qualified in their entirety by such factors. Except as required by law, the Company undertakes no obligation to publicly update or review any forward-looking statement, whether because of new information, future developments or otherwise. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.
Contacts: | Lee Roth / Cameron Radinovic | |
Thomas R. Staab, II, CFO | Burns McClellan for LENSAR | |
ir.contact@lensar.com | lroth@burnsmc.com / cradinovic@burnsmc.com | |
Non-GAAP Financial Measures
The Company prepares and analyzes operating and financial data and non-GAAP measures to assess the
performance of its business, make strategic and offering decisions and build its financial projections. The key
non-GAAP measures it uses are EBITDA and Adjusted EBITDA. EBITDA is defined as net loss before interest expense, interest income, income tax expense, depreciation and amortization expenses. EBITDA is a non-GAAP financial measure. EBITDA is included in this filing because we believe that EBITDA provides meaningful supplemental information for investors regarding the performance of our business and facilitates a meaningful evaluation of actual results on a comparable basis with historical results. Adjusted EBITDA is also a non-GAAP financial measure. We believe Adjusted EBITDA, which is defined as EBITDA and further excluding stock-based compensation expense, change in fair value of warrant liabilities, impairment of intangible assets and the Employee Retention Credit, provides meaningful supplemental information for investors when evaluating our results and comparing us to peer companies as stock-based compensation expense and change in fair value of warrant liabilities are significant non-cash charges and impairment of intangible assets is a non-cash charge that is not indicative of our core operating results and the Employee Retention Credit is not recurring. We use these non-GAAP financial measures in order to have comparable financial results to analyze changes in our underlying business from quarter to quarter. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance and, therefore, any non-GAAP measures we use may not be directly comparable to similarly titled measures of other companies. Investors should not consider our non-GAAP financial measures in isolation or as a substitute for an analysis of our results as reported under GAAP.
A reconciliation of EBITDA and Adjusted EBITDA to their most comparable GAAP financial measure are set forth below.
Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||
(Dollars in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||||||
Net loss | $ | (18,702 | ) | $ | (3,926 | ) | $ | (31,404 | ) | $ | (14,383 | ) | ||||
Less: Interest income | (149 | ) | (233 | ) | (660 | ) | (698 | ) | ||||||||
Add: Depreciation expense | 874 | 651 | 2,961 | 2,418 | ||||||||||||
Add: Amortization expense | 232 | 273 | 970 | 1,097 | ||||||||||||
EBITDA | (17,745 | ) | (3,235 | ) | (28,133 | ) | (11,566 | ) | ||||||||
Add: Stock-based compensation expense | 662 | 816 | 2,665 | 5,539 | ||||||||||||
Add: Change in fair value of warrant liabilities | 17,561 | 1,198 | 21,399 | 2,852 | ||||||||||||
Add: Impairment of intangible assets | — | — | 3,729 | — | ||||||||||||
Less: Employee retention credit | — | — | — | (1,368 | ) | |||||||||||
Adjusted EBITDA | $ | 478 | $ | (1,221 | ) | $ | (340 | ) | $ | (4,543 | ) |
LENSAR, Inc. STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except per share amounts) | |||||||||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Revenue | |||||||||||||||
Product | $ | 13,520 | $ | 9,452 | $ | 41,065 | $ | 31,643 | |||||||
Lease | 1,909 | 1,604 | 7,532 | 6,448 | |||||||||||
Service | 1,302 | 1,049 | 4,897 | 4,073 | |||||||||||
Total revenue | 16,731 | 12,105 | 53,494 | 42,164 | |||||||||||
Cost of revenue (exclusive of amortization) | |||||||||||||||
Product | 7,340 | 5,005 | 18,254 | 13,902 | |||||||||||
Lease | 874 | 577 | 2,930 | 2,091 | |||||||||||
Service | 1,409 | 1,374 | 6,459 | 5,064 | |||||||||||
Total cost of revenue | 9,623 | 6,956 | 27,643 | 21,057 | |||||||||||
Operating expenses | |||||||||||||||
Selling, general and administrative expenses | 6,831 | 6,374 | 26,488 | 26,100 | |||||||||||
Research and development expenses | 1,335 | 1,463 | 5,329 | 6,139 | |||||||||||
Amortization of intangible assets | 232 | 273 | 970 | 1,097 | |||||||||||
Impairment of intangible assets | — | — | 3,729 | — | |||||||||||
Total operating expenses | 8,398 | 8,110 | 36,516 | 33,336 | |||||||||||
Operating loss | (1,290 | ) | (2,961 | ) | (10,665 | ) | (12,229 | ) | |||||||
Other (expense) income | |||||||||||||||
Change in fair value of warrant liabilities | (17,561 | ) | (1,198 | ) | (21,399 | ) | (2,852 | ) | |||||||
Other income, net | 149 | 233 | 660 | 698 | |||||||||||
Net loss | (18,702 | ) | (3,926 | ) | (31,404 | ) | (14,383 | ) | |||||||
Other comprehensive (loss) gain | |||||||||||||||
Change in unrealized (loss) gain on investments | (9 | ) | 4 | 2 | 4 | ||||||||||
Net loss and comprehensive loss | $ | (18,711 | ) | $ | (3,922 | ) | $ | (31,402 | ) | $ | (14,379 | ) | |||
Net loss per common share: | |||||||||||||||
Basic and diluted | $ | (1.61 | ) | $ | (0.35 | ) | $ | (2.73 | ) | $ | (1.31 | ) | |||
Weighted-average number of common shares used in calculation of net loss per common share: | |||||||||||||||
Basic and diluted | 11,628 | 11,237 | 11,518 | 10,971 |
LENSAR, Inc. BALANCE SHEETS (In thousands, except per share amounts) | ||||||||
As of December 31, | ||||||||
2024 | 2023 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 16,263 | $ | 20,621 | ||||
Short-term investments | 6,192 | 3,443 | ||||||
Accounts receivable, net of allowance of | 6,085 | 4,001 | ||||||
Notes receivable, net of allowance of | 395 | 323 | ||||||
Inventories | 11,428 | 15,689 | ||||||
Prepaid and other current assets | 1,616 | 2,367 | ||||||
Total current assets | 41,979 | 46,444 | ||||||
Property and equipment, net | 664 | 679 | ||||||
Equipment under lease, net | 13,767 | 7,459 | ||||||
Long-term investments | — | 492 | ||||||
Notes and other receivables, long-term, net of allowance of | 1,160 | 1,279 | ||||||
Intangible assets, net | 6,112 | 11,025 | ||||||
Other assets | 2,615 | 2,207 | ||||||
Total assets | $ | 66,297 | $ | 69,585 | ||||
Liabilities, redeemable convertible preferred stock, and stockholders’ equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 5,995 | $ | 4,007 | ||||
Accrued liabilities | 6,807 | 5,717 | ||||||
Deferred revenue | 1,677 | 1,349 | ||||||
Operating lease liabilities | 524 | 559 | ||||||
Total current liabilities | 15,003 | 11,632 | ||||||
Long-term operating lease liabilities | 2,090 | 1,750 | ||||||
Warrant liabilities | 29,856 | 8,457 | ||||||
Other long-term liabilities | 702 | 570 | ||||||
Total liabilities | 47,651 | 22,409 | ||||||
Series A Redeemable Convertible Preferred Stock, par value | 13,784 | 13,747 | ||||||
Stockholders’ equity: | ||||||||
Preferred stock, par value | — | — | ||||||
Common stock, par value | 116 | 113 | ||||||
Additional paid-in capital | 148,035 | 145,203 | ||||||
Accumulated other comprehensive income | 6 | 4 | ||||||
Accumulated deficit | (143,295 | ) | (111,891 | ) | ||||
Total stockholders’ equity | 4,862 | 33,429 | ||||||
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity | $ | 66,297 | $ | 69,585 | ||||
