STOCK TITAN

LENSAR Reports Third Quarter 2024 Results and Provides Business Update

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags

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 ha riportato i risultati del terzo trimestre del 2024, evidenziando una crescita significativa e aggiornamenti operativi. L'azienda ha effettuato 24 sistemi cataratta laser robotici ALLY™, di cui 11 venduti nell'UE e nel Sud-est asiatico, con un arretrato di 24 sistemi in attesa di installazione. I ricavi sono aumentati del 38% rispetto all’anno precedente, raggiungendo i 13,5 milioni di dollari, grazie alle certificazioni normative nell'UE e a Taiwan. I ricavi ricorrenti sono cresciuti del 22% negli ultimi dodici mesi. I volumi delle procedure a livello globale sono aumentati del 29% e il parco installato è cresciuto del 20%. La quota di mercato dell'azienda negli Stati Uniti è aumentata del 3,5%, raggiungendo il 19,9%. Le spese operative sono salite a 7,5 milioni di dollari, ma la perdita operativa si è migliorata a 1,3 milioni di dollari. La perdita netta è stata di 1,5 milioni di dollari, pari a ($0,13) per azione, rispetto a un utile netto di 2,6 milioni di dollari nel terzo trimestre del 2023. L'EBITDA è stato di ($0,6) milioni, con un EBITDA rettificato che ha raggiunto il pareggio. Il saldo di cassa era di 18,6 milioni di dollari al 30 settembre 2024.

LENSAR informó sus resultados del tercer trimestre de 2024, mostrando un crecimiento significativo y actualizaciones operativas. La empresa colocó 24 sistemas de catarata láser robóticos ALLY™, incluyendo 11 ventas en la UE y el sudeste asiático, con una acumulación de 24 sistemas pendientes de instalación. Los ingresos crecieron un 38% interanual, alcanzando los 13,5 millones de dólares, impulsados por certificaciones regulatorias en la UE y Taiwán. Los ingresos recurrentes crecieron un 22% en los últimos doce meses. Los volúmenes de procedimientos a nivel mundial aumentaron un 29%, y la base de sistemas instalados creció un 20%. La participación de mercado de la empresa en EE. UU. aumentó un 3.5% hasta el 19.9%. Los gastos operativos ascendieron a 7.5 millones de dólares, pero la pérdida operativa mejoró a 1.3 millones de dólares. La pérdida neta fue de 1.5 millones de dólares, o ($0.13) por acción, en comparación con una ganancia neta de 2.6 millones de dólares en el tercer trimestre de 2023. El EBITDA fue de ($0.6) millones, con un EBITDA ajustado alcanzando el equilibrio. El saldo de efectivo era de 18.6 millones de dólares al 30 de septiembre de 2024.

LENSAR는 2024년 3분기 실적을 발표하며 상당한 성장과 운영 업데이트를 보여주었습니다. 회사는 24개의 ALLY 로봇 레이저 백내장 수술 시스템™을 설치하였으며, 이 중 11개는 EU 및 동남아시아에서 판매되었고, 24개 시스템이 설치 대기 중입니다. 매출은 전년 대비 38% 증가하여 1,350만 달러에 달하였으며, 이는 EU와 대만의 규제 인증 덕분입니다. 반복 수익은 지난 12개월 동안 22% 증가했습니다. 전 세계 절차 수는 29% 증가하였고, 설치된 시스템 수는 20% 증가했습니다. 미국에서 회사의 시장 점유율은 3.5% 증가하여 19.9%에 달했습니다. 운영 비용은 750만 달러로 증가했지만, 운영 손실은 130만 달러로 개선되었습니다. 순손실은 150만 달러, 즉 주당 ($0.13)였으며, 2023년 3분기 순이익 260만 달러와 비교되었습니다. EBITDA는 ($0.6) 백만 달러였으며, 조정된 EBITDA는 손익 분기점에 도달했습니다. 2024년 9월 30일 기준 현금 잔고는 1,860만 달러였습니다.

LENSAR a annoncé ses résultats du troisième trimestre 2024, montrant une croissance significative et des mises à jour opérationnelles. L'entreprise a placé 24 systèmes de cataracte laser robotique ALLY™, dont 11 ventes dans l'UE et en Asie du Sud-Est, avec un carnet de commandes de 24 systèmes en attente d'installation. Le chiffre d'affaires a augmenté de 38% par rapport à l'année précédente pour atteindre 13,5 millions de dollars, grâce aux certifications réglementaires dans l'UE et à Taïwan. Les revenus récurrents ont augmenté de 22% au cours des douze derniers mois. Les volumes de procédures dans le monde ont augmenté de 29% et le parc installé a crû de 20%. La part de marché de l'entreprise aux États-Unis a augmenté de 3,5% pour atteindre 19,9%. Les dépenses d'exploitation ont atteint 7,5 millions de dollars, mais la perte d'exploitation s'est améliorée à 1,3 million de dollars. La perte nette était de 1,5 million de dollars, soit ($0,13) par action, par rapport à un bénéfice net de 2,6 millions de dollars au troisième trimestre 2023. L'EBITDA était de ($0,6) million, avec un EBITDA ajusté atteignant l'équilibre. Le solde de trésorerie était de 18,6 millions de dollars au 30 septembre 2024.

LENSAR hat die Ergebnisse des dritten Quartals 2024 veröffentlicht, die ein signifikantes Wachstum und betriebliche Aktualisierungen zeigen. Das Unternehmen platzierte 24 ALLY Robotic Laser Cataract Systems™, darunter 11 Verkäufe in der EU und Südostasien, und hat einen Auftragsbestand von 24 Systemen, die auf die Installation warten. Der Umsatz stieg im Jahresvergleich um 38% auf 13,5 Millionen Dollar, angetrieben durch regulatorische Zertifizierungen in der EU und Taiwan. Die wiederkehrenden Einnahmen wuchsen in den letzten zwölf Monaten um 22%. Die weltweiten Verfahrenszahlen erhöhten sich um 29%, und der installierte Systembestand wuchs um 20%. Der Marktanteil des Unternehmens in den USA stieg um 3,5% auf 19,9%. Die Betriebskosten stiegen auf 7,5 Millionen Dollar, aber der operative Verlust verbesserte sich auf 1,3 Millionen Dollar. Der Nettoverlust betrug 1,5 Millionen Dollar oder ($0,13) pro Aktie im Vergleich zu einem Nettoertrag von 2,6 Millionen Dollar im dritten Quartal 2023. Das EBITDA betrug ($0,6) Millionen, mit einem angepassten EBITDA, das den Ausgleich erreichte. Der Kassenbestand betrug zum 30. September 2024 18,6 Millionen Dollar.

Positive
  • 38% revenue growth year-over-year to $13.5 million.
  • 22% increase in recurring revenue over the past twelve months.
  • 29% growth in worldwide procedure volumes.
  • 3.5% increase in U.S. market share to 19.9%.
  • 20% increase in installed system base.
  • Operating loss improved by 39% to $1.3 million.
  • Cash balance increased to $18.6 million.
Negative
  • Net loss of $1.5 million, or ($0.13) per share.
  • EBITDA decreased to ($0.6) million.

Insights

LENSAR delivered strong Q3 2024 results with $13.5M in revenue, up 38% YoY. Key highlights include 24 ALLY system placements and an impressive backlog of 24 pending installations. The company's market share in the U.S. premium segment increased to 19.9%, gaining 3.5% over the past year.

The recurring revenue growth of 22% on a trailing twelve-month basis to $38M demonstrates strong business fundamentals. While operating loss improved by 39% to $1.3M, the company achieved break-even on an Adjusted EBITDA basis, showing progress toward profitability. Cash position strengthened to $18.6M, up from $15.4M in Q2, primarily driven by international sales momentum.

The successful EU and Taiwan regulatory clearances in August 2024 have immediately translated into meaningful market penetration, with 11 ALLY system sales in these regions within the first two months. The global installed base surpassing 100 ALLY systems represents strong market acceptance of this advanced robotic laser technology. The 29% increase in worldwide procedure volumes indicates growing physician adoption and patient demand for premium cataract treatment solutions.

         24 ALLY Robotic Laser Cataract Systems™ placed in 3Q 2024 including 11 sales in EU and Southeast Asia; Robust backlog with 24 systems pending installation as of September 30, 2024

38% Revenue growth over third quarter 2023 and 22% Recurring revenue growth in twelve-month trailing average

Worldwide procedure volumes increased 29% over third quarter of 2023

Installed system base grew 20% over third quarter of 2023

ORLANDO, Fla., Nov. 07, 2024 (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 quarter ended September 30, 2024 and provided an update on key operational initiatives.

“Our third quarter results further show the continued momentum behind ALLY in each of our key metrics. We are reporting solid growth in system placements, system backlog and procedures purchased, in addition to robust demand following the pivotal, mid-quarter regulatory certification and clearance in the European Union and Taiwan. We sold 11 ALLY systems in the first two months of commercial availability outside the U.S., which contributed to robust total revenue growth of 38% over the third quarter of 2023. We believe LENSAR is positioned well for continued procedure and recurring revenue growth as we enter the fourth quarter, which is typically our strongest quarter of the year,” said Nick Curtis, President and CEO of LENSAR. “Our installed base has expanded to over 100 ALLYs worldwide as of quarter end, reflecting a 170% increase from the same period last year, and a total installed base of approximately 355 systems. Procedure volumes were up 29% over the third quarter of 2023 and translated to recurring revenue of $38 million on a trailing twelve-month basis, representing an increase of 22% over the comparable September 2023 twelve-month period. Market Scope estimates that LENSAR gained an additional 3.5% market share in the past year in the largest premium market, the U.S., and now has a total U.S. market share of 19.9% as of September 30, 2024.

Third Quarter 2024 Financial Results

Total revenue for the quarter ended September 30, 2024 was $13.5 million, an increase of $3.7 million, or 38%, compared to total revenue of $9.8 million for the quarter ended September 30, 2023. The increase in the third quarter of 2024 occurred in all revenue line items and was primarily due to the 11 systems sold outside the United States following regulatory certification and clearance in the European Union and Taiwan in August of 2024. Procedure volume in the United States increased approximately 22%, when comparing the third quarter of 2024 to 2023, with worldwide procedure volume increasing approximately 29% in the third quarter of 2024 as compared to 2023. During the three months ended September 30, 2024, the Company placed 24 ALLY Systems, increasing the installed base to over 100 ALLY Systems and the total installed base of LENSAR Laser Systems and ALLY Systems to approximately 355 at September 30, 2024, reflecting a 20% increase over the installed base of 295 systems at September 30, 2023.

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 sales of our systems:

  Three Months Ended
September 30,
 Nine Months Ended
September 30,
(Dollars in thousands)  2024   2023   2024   2023 
System $3,660  $1,953  $7,404  $6,251 
Recurring source revenue:        
Procedure  6,918   5,203   20,141   15,940 
Lease  1,724   1,524   5,623   4,844 
Service  1,237   1,115   3,595   3,024 
Total recurring source revenue  9,879   7,842   29,359   23,808 
Total revenue $13,539  $9,795  $36,763  $30,059 
Recurring source revenue %  73%  80%  80%  79%

As of September 30, 2024, the Company’s recurring revenue totaled $38 million, on a trailing twelve-month basis, representing an increase of 22% over the comparable twelve-month period in 2023.

The following table provides information about procedure volume:

 Procedure Volume
 2024 2023
Q139,486 31,600
Q242,203 35,349
Q342,231 32,649
Total123,920 99,598

Selling, general and administrative expenses were $6.1 million and $5.1 million for the quarters ended September 30, 2024 and 2023, respectively, an increase of $1.0 million or 19%. General and administrative expenses increased in the quarter due to recording an Employee Retention Credit (“ERC”) of $1.4 million in the three months ended September 30, 2023, which significantly reduced expenses in the third quarter of 2023. Excluding the $1.4 million attributable to the ERC, selling, general and administrative expenses decreased $0.4 million due to lower stock-based compensation expense and lower cash-based general and administrative expenses, partially offset by a 16% increase in selling and marketing expenses in the third quarter of 2024 supporting the continued ALLY growth in placements and procedures.

Research and development expenses were $1.2 million and $1.5 million for the quarters ended September 30, 2024 and 2023, respectively, a decrease of $0.3 million or 21%.

Total operating expenses for the quarter September 30, 2024 were $7.5 million as compared to $6.9 million in the third quarter of 2023, which included a reduction for the ERC of $1.4 million. Operating loss for the third quarter of 2024 was $1.3 million and improved $0.8 million, or 39%, from the $2.0 million in the third quarter of 2023.

Net loss for the quarter ended September 30, 2024 was $1.5 million, or ($0.13) per common share, compared to net income of $2.6 million, or $0.13 per common share, for the quarter ended September 30, 2023. The most significant change in results between the third quarter comparison relates to a $4.3 million decrease in warrant liability, which occurred in the third quarter of 2023, and generated net income from an operating loss in that quarter. Included within operating expenses are stock-based compensation expenses recorded for the quarters ended September 30, 2024 and 2023 of $0.7 million and $1.2 million, respectively, and change in fair value of warrant liabilities of $0.4 million and ($4.3) million, respectively.

Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) for the quarter ended September 30, 2024 was ($0.6) million, compared with $3.2 million for the quarter ended September 30, 2023. Adjusted EBITDA, which we calculate by adding back stock-based compensation expense, (income)/expense related to the change in the fair value of warrant liabilities, impairment of intangible assets and the ERC to EBITDA, was $0.4 million for the quarter ended September 30, 2024 and ($1.4) million for the quarter ended September 30, 2023. EBITDA and Adjusted EBITDA are non-GAAP financial measures, and a reconciliation of these measures to net loss is set forth below in this press release.

As of September 30, 2024, the Company had cash, cash equivalents, and investments of $18.6 million, as compared to $24.6 million at December 31, 2023, and $15.4 million at June 30, 2024. The Company’s cash balance increased approximately $3.1 million in the quarter ended September 30, 2024, which was primarily related to the 11 ALLY systems sold outside the U.S. in the third quarter of 2024 as well as periodic changes in working capital balances. The Company achieved break-even for the quarter on an Adjusted EBITDA basis.

Conference Call:

LENSAR management will host a conference call and live webcast to discuss the third quarter results and provide a business update today, November 7, 2024, at 8:30 a.m. ET.

To participate by telephone, please dial (800) 715-9871 (Domestic) or (646) 307 1963 (International). The conference ID is 8444582. 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 November 21, 2024.

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 reducing overhead. ALLY includes LENSAR’s proprietary Streamline ® software technology, which is 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, expected product advancement, the ALLY System’s performance, market adoption and usage, including in non-U.S. jurisdictions, and seasonality trends. 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 June 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 Quarterly Report on Form 10-Q for the quarterly period ended September 30, 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 is set forth below.

  Three Months Ended
September 30,
 Nine Months Ended
September 30,
(Dollars in thousands)  2024   2023   2024   2023 
Net (loss) income $(1,502) $2,568  $(12,702) $(10,457)
Less: Interest income  (153)  (265)  (511)  (465)
Add: Depreciation expense  774   609   2,087   1,767 
Add: Amortization expense  232   273   738   824 
EBITDA  (649)  3,185   (10,388)  (8,331)
Add: Stock-based compensation expense  668   1,173   2,003   4,723 
Add: Change in fair value of warrant liabilities  410   (4,343)  3,838   1,654 
Add: Impairment of intangible assets        3,729    
Less: Employee retention credit     (1,368)     (1,368)
Adjusted EBITDA $429  $(1,353) $(818) $(3,322)

 

LENSAR, Inc.
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(In thousands, except per share amounts)
 
  Three Months Ended
September 30,
 Nine Months Ended
September 30,
   2024   2023   2024   2023 
Revenue        
Product $10,578  $7,156  $27,545  $22,191 
Lease  1,724   1,524   5,623   4,844 
Service  1,237   1,115   3,595   3,024 
Total revenue  13,539   9,795   36,763   30,059 
Cost of revenue (exclusive of amortization)        
Product  4,473   2,933   10,914   8,897 
Lease  790   524   2,056   1,514 
Service  2,010   1,461   5,050   3,690 
Total cost of revenue  7,273   4,918   18,020   14,101 
Operating expenses        
Selling, general and administrative expenses  6,077   5,117   19,657   19,726 
Research and development expenses  1,202   1,527   3,994   4,676 
Amortization of intangible assets  232   273   738   824 
Impairment of intangible assets        3,729    
Operating loss  (1,245)  (2,040)  (9,375)  (9,268)
Other (expense) income        
Change in fair value of warrant liabilities  (410)  4,343   (3,838)  (1,654)
Other income, net  153   265   511   465 
Net (loss) income  (1,502)  2,568   (12,702)  (10,457)
Other comprehensive (loss) income        
Change in unrealized gain on investments  21      11    
Net (loss) income and comprehensive (loss) income $(1,481) $2,568  $(12,691) $(10,457)
Net (loss) earnings per common share:        
Basic $(0.13) $0.13  $(1.11) $(0.96)
Diluted $(0.13) $(0.23) $(1.11) $(0.96)
Weighted-average number of common shares used in calculation of net (loss) earnings per share:        
Basic  11,604   11,102   11,481   10,881 
Diluted  11,604   11,956   11,481   10,881 

 

LENSAR, Inc.
BALANCE SHEETS
(In thousands, except per share amounts)
 
  September 30, 2024 December 31, 2023
Assets    
Current assets:    
Cash and cash equivalents $10,442  $20,621 
Short-term investments  7,638   3,443 
Accounts receivable, net of allowance of $39 and $62, respectively  4,373   4,001 
Notes receivable, net of allowance of $7 and $7, respectively  352   323 
Inventories  14,892   15,689 
Prepaid and other current assets  1,705   2,367 
Total current assets  39,402   46,444 
Property and equipment, net  677   679 
Equipment under lease, net  12,303   7,459 
Long-term investments  494   492 
Notes and other receivables, long-term, net of allowance of $20 and $26, respectively  952   1,279 
Intangible assets, net  6,344   11,025 
Other assets  1,847   2,207 
Total assets $62,019  $69,585 
Liabilities, redeemable convertible preferred stock, and stockholders’ equity    
Current liabilities:    
Accounts payable $3,867  $4,007 
Accrued liabilities  5,800   5,717 
Deferred revenue  1,437   1,349 
Operating lease liabilities  574   559 
Total current liabilities  11,678   11,632 
Long-term operating lease liabilities  1,319   1,750 
Warrant liabilities  12,295   8,457 
Other long-term liabilities  205   570 
Total liabilities  25,497   22,409 
Series A Redeemable Convertible Preferred Stock, par value $0.01 per share, 20 shares authorized at September 30, 2024 and December 31, 2023; 20 shares issued and outstanding at September 30, 2024 and December 31, 2023; aggregate liquidation preference of $20,000 at September 30, 2024 and December 31, 2023  13,784   13,747 
Stockholders’ equity:    
Preferred stock, par value $0.01 per share, 9,980 shares authorized at September 30, 2024 and December 31, 2023; no shares issued and outstanding at September 30, 2024 and December 31, 2023      
Common stock, par value $0.01 per share, 150,000 shares authorized at September 30, 2024 and December 31, 2023; 11,612 and 11,327 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively  116   113 
Additional paid-in capital  147,200   145,203 
Accumulated other comprehensive income  15   4 
Accumulated deficit  (124,593)  (111,891)
Total stockholders’ equity  22,738   33,429 
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity $62,019  $69,585 

FAQ

What were LENSAR's Q3 2024 revenue results?

LENSAR reported Q3 2024 revenue of $13.5 million, a 38% increase from Q3 2023.

How much did LENSAR's recurring revenue grow in the past twelve months?

LENSAR's recurring revenue grew by 22% over the past twelve months.

What was LENSAR's net loss for Q3 2024?

LENSAR's net loss for Q3 2024 was $1.5 million, or ($0.13) per share.

How many ALLY systems did LENSAR place in Q3 2024?

LENSAR placed 24 ALLY Robotic Laser Cataract Systems™ in Q3 2024.

What is LENSAR's current U.S. market share?

LENSAR's current U.S. market share is 19.9%, an increase of 3.5% over the past year.

How did LENSAR's EBITDA change in Q3 2024?

LENSAR's EBITDA for Q3 2024 was ($0.6) million, a decrease from the previous year.

What is LENSAR's cash balance as of September 30, 2024?

LENSAR's cash balance as of September 30, 2024, was $18.6 million.

LENSAR, Inc.

NASDAQ:LNSR

LNSR Rankings

LNSR Latest News

LNSR Stock Data

86.76M
9.31M
19.57%
42.43%
0.43%
Medical Devices
Surgical & Medical Instruments & Apparatus
Link
United States of America
ORLANDO