LENSAR Reports Second Quarter 2025 Results and Provides Business Update
LENSAR (NASDAQ:LNSR) reported strong Q2 2025 results, highlighted by significant growth in its ALLY Robotic Cataract Laser Systems business. The company achieved total revenue of $13.9 million, up 10% year-over-year, driven by a 23% increase in worldwide procedure volumes.
Key highlights include 18 new ALLY Systems placements in Q2 with an additional 18 systems in backlog. The ALLY installed base grew 107% year-over-year to 165 systems, while the total combined installed base increased 23% to 410 systems. The company's recurring revenue reached 82% of total revenue.
LENSAR reported a net loss of $1.8 million ($0.15 per share), improved from a $9.0 million loss in Q2 2024. The company ended the quarter with $20.3 million in cash and investments. Notably, shareholders overwhelmingly approved the proposed merger with Alcon, with over 99% of votes in favor, expected to close by year-end.
LENSAR (NASDAQ:LNSR) ha riportato risultati solidi nel secondo trimestre del 2025, evidenziando una crescita significativa nel suo business di Sistemi Robotici per la Chirurgia della Cataratta ALLY. L'azienda ha raggiunto un fatturato totale di 13,9 milioni di dollari, in aumento del 10% rispetto all'anno precedente, trainata da un incremento del 23% nei volumi delle procedure a livello globale.
I punti salienti includono 18 nuove installazioni di sistemi ALLY nel secondo trimestre e ulteriori 18 sistemi in backlog. La base installata di ALLY è cresciuta del 107% su base annua, raggiungendo 165 sistemi, mentre la base installata totale combinata è aumentata del 23% a 410 sistemi. Il ricavo ricorrente ha rappresentato l'82% del fatturato totale.
LENSAR ha riportato una perdita netta di 1,8 milioni di dollari (0,15 dollari per azione), migliorata rispetto alla perdita di 9,0 milioni di dollari nel secondo trimestre 2024. L'azienda ha chiuso il trimestre con 20,3 milioni di dollari in liquidità e investimenti. Da segnalare che gli azionisti hanno approvato con ampia maggioranza la fusione proposta con Alcon, con oltre il 99% dei voti favorevoli, con chiusura prevista entro fine anno.
LENSAR (NASDAQ:LNSR) reportó sólidos resultados en el segundo trimestre de 2025, destacando un crecimiento significativo en su negocio de Sistemas Láser Robóticos para Cataratas ALLY. La compañía alcanzó unos ingresos totales de 13,9 millones de dólares, un aumento del 10% interanual, impulsado por un incremento del 23% en el volumen de procedimientos a nivel mundial.
Los aspectos clave incluyen 18 nuevas instalaciones de sistemas ALLY en el segundo trimestre y otros 18 sistemas en cartera. La base instalada de ALLY creció un 107% interanual, llegando a 165 sistemas, mientras que la base instalada total combinada aumentó un 23% hasta 410 sistemas. Los ingresos recurrentes representaron el 82% de los ingresos totales.
LENSAR reportó una pérdida neta de 1,8 millones de dólares (0,15 dólares por acción), mejorando desde una pérdida de 9,0 millones en el segundo trimestre de 2024. La compañía terminó el trimestre con 20,3 millones de dólares en efectivo e inversiones. Cabe destacar que los accionistas aprobaron abrumadoramente la propuesta de fusión con Alcon, con más del 99% de los votos a favor, y se espera que se cierre antes de fin de año.
LENSAR (NASDAQ:LNSR)는 2025년 2분기에 강력한 실적을 발표했으며, 특히 ALLY 로봇 백내장 레이저 시스템 사업에서 큰 성장을 보였습니다. 회사는 총 매출 1,390만 달러를 기록하며 전년 동기 대비 10% 증가했으며, 전 세계 시술 건수가 23% 증가한 것이 주요 원동력이었습니다.
주요 내용으로는 2분기에 18대의 새로운 ALLY 시스템 설치와 추가로 18대의 시스템이 대기 중입니다. ALLY 설치 기반은 전년 대비 107% 증가하여 165대에 이르렀고, 전체 설치 기반은 23% 증가하여 410대가 되었습니다. 회사의 반복 수익은 전체 매출의 82%를 차지했습니다.
LENSAR는
LENSAR (NASDAQ:LNSR) a publié de solides résultats pour le deuxième trimestre 2025, mettant en avant une croissance significative de son activité de systèmes laser robotiques pour la chirurgie de la cataracte ALLY. La société a réalisé un chiffre d'affaires total de 13,9 millions de dollars, en hausse de 10 % par rapport à l'année précédente, porté par une augmentation de 23 % du volume des interventions dans le monde.
Les points clés incluent 18 nouvelles installations de systèmes ALLY au deuxième trimestre, avec 18 systèmes supplémentaires en attente. La base installée des systèmes ALLY a augmenté de 107 % en un an pour atteindre 165 systèmes, tandis que la base installée totale combinée a progressé de 23 % pour atteindre 410 systèmes. Les revenus récurrents ont représenté 82 % du chiffre d'affaires total.
LENSAR a enregistré une perte nette de 1,8 million de dollars (0,15 dollar par action), une amélioration par rapport à une perte de 9,0 millions au deuxième trimestre 2024. La société a terminé le trimestre avec 20,3 millions de dollars en liquidités et investissements. Il est à noter que les actionnaires ont largement approuvé la fusion proposée avec Alcon, avec plus de 99 % des votes en faveur, la clôture étant prévue d'ici la fin de l'année.
LENSAR (NASDAQ:LNSR) meldete starke Ergebnisse für das zweite Quartal 2025, insbesondere ein signifikantes Wachstum im Bereich der ALLY Roboter-Katarakt-Lasersysteme. Das Unternehmen erzielte Gesamtumsätze von 13,9 Millionen US-Dollar, ein Anstieg von 10 % im Jahresvergleich, getrieben durch eine Steigerung der weltweiten Verfahrenszahlen um 23 %.
Wichtige Highlights umfassen 18 neue ALLY-Systeminstallationen im zweiten Quartal sowie weitere 18 Systeme im Auftragsbestand. Die installierte Basis der ALLY-Systeme wuchs im Jahresvergleich um 107 % auf 165 Systeme, während die gesamte kombinierte installierte Basis um 23 % auf 410 Systeme anstieg. Der wiederkehrende Umsatz erreichte 82 % des Gesamtumsatzes.
LENSAR meldete einen Nettoverlust von 1,8 Millionen US-Dollar (0,15 US-Dollar pro Aktie), eine Verbesserung gegenüber einem Verlust von 9,0 Millionen US-Dollar im zweiten Quartal 2024. Das Unternehmen schloss das Quartal mit 20,3 Millionen US-Dollar in bar und Investitionen ab. Bemerkenswert ist, dass die Aktionäre der vorgeschlagenen Fusion mit Alcon mit über 99 % der Stimmen zustimmten, die voraussichtlich bis Jahresende abgeschlossen wird.
- Revenue increased 10% year-over-year to $13.9 million
- Worldwide procedure volumes grew 23% compared to Q2 2024
- ALLY installed base grew 107% year-over-year with 18 new system placements
- Strong backlog of 18 additional ALLY Systems pending installation
- Net loss improved significantly to $1.8 million from $9.0 million in Q2 2024
- Recurring revenue represents 82% of total revenue
- Merger with Alcon approved by 99% of shareholders
- Selling, general and administrative expenses increased 72% to $11.7 million
- Cash position decreased to $20.3 million from $22.5 million at end of 2024
- Adjusted EBITDA declined to -$0.3 million from $30,000 in Q2 2024
Insights
LENSAR shows strong growth with 107% increase in ALLY system installations and 23% procedure volume growth despite pending Alcon acquisition.
LENSAR's Q2 2025 results demonstrate robust commercial traction for their ALLY Robotic Cataract Laser System. The company placed 18 new ALLY systems during Q2 with another 18 systems in backlog, growing their installed ALLY base by an impressive 107% year-over-year. Their total installed base across all laser systems increased 23% to approximately 410 systems.
The procedure volume metrics are particularly telling - worldwide procedures increased 23% compared to Q2 2024, with LENSAR systems now performing over 21% of all U.S. cataract procedures (up 3% YoY). This market share gain in a competitive landscape suggests strong surgeon adoption and preference for LENSAR's technology.
Revenue performance shows healthy fundamentals with total revenue of $13.9 million (10% YoY growth) and notably, 82% recurring revenue. The recurring revenue mix (procedures, leases, service) increased from 79% in Q2 2024, indicating an increasingly stable business model. Procedure revenue specifically grew 21% to $8.3 million, outpacing overall revenue growth.
While net loss improved from $9.0 million to $1.8 million, this was largely due to warrant liability changes rather than operational improvements. The company's adjusted EBITDA actually declined slightly from $30,000 to
The pending acquisition by Alcon appears on track with overwhelming shareholder approval (99% of votes cast), though regulatory review continues with the FTC requesting additional information. The acquisition remains expected to close by year-end 2025.
18 ALLY Robotic Cataract Laser Systems™ (“ALLY Systems”) placed in 2Q 2025 with an additional backlog of 18 ALLY Systems pending installation as of June 30, 2025
ALLY installed base grew
Worldwide procedure volumes increased
ORLANDO, Fla., Aug. 07, 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 quarter ended June 30, 2025 and provided an update on key operational initiatives.
“Our second quarter results reflect the continued, strong momentum of ALLY with 18 systems placed in the quarter and an additional 18 systems in backlog. Moreover, we continued to see strong procedure growth, with worldwide procedure volumes increasing
Second Quarter 2025 Financial Results
Total revenue for the quarter ended June 30, 2025 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 June 30, | Six Months Ended June 30, | ||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| System | $ | 2,576 | $ | 2,654 | $ | 5,208 | $ | 3,744 | |||||||
| Recurring revenue: | |||||||||||||||
| Procedure | 8,334 | 6,880 | 16,620 | 13,223 | |||||||||||
| Lease | 1,645 | 1,952 | 3,529 | 3,899 | |||||||||||
| Service | 1,380 | 1,150 | 2,737 | 2,358 | |||||||||||
| Total recurring revenue | 11,359 | 9,982 | 22,886 | 19,480 | |||||||||||
| Total revenue | $ | 13,935 | $ | 12,636 | $ | 28,094 | $ | 23,224 | |||||||
| Recurring revenue % | 82 | % | 79 | % | 81 | % | 84 | % | |||||||
The following table provides information about procedure volume:
| 2025 | 2024 | 2023 | |||||||||
| Q1 | 52,347 | 39,486 | 31,600 | ||||||||
| Q2 | 52,100 | 42,203 | 35,349 | ||||||||
| Total | 104,447 | 81,689 | 66,949 | ||||||||
Selling, general and administrative expenses were
Research and development expenses were
Net loss for the quarter ended June 30, 2025, was
Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) for the quarter ended June 30, 2025 was (
As of June 30, 2025, the Company had cash, cash equivalents, and investments of
Conference Call
Following the announcement of LENSAR’s definitive agreement to be acquired by Alcon, the Company will not be hosting an earnings conference call this quarter.
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 Alcon Transaction, regulatory review of the Alcon Transaction and the expected timing of the closing of the Alcon Transaction, ALLY’s commercialization and the Company’s operational performance. 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: (i) the proposed merger may not be completed in a timely manner or at all, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the Company or the expected benefits of the proposed merger; (ii) the failure to realize the anticipated benefits of the proposed merger; (iii) the possibility that competing offers or acquisition proposals for the Company will be made; (iv) risks that the milestone related to the contingent value right is not achieved; (v) the possibility that any or all of the various conditions to the consummation of the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger, including in circumstances which would require the Company to pay a termination fee or other expenses; (vii) the effect of the announcement or pendency of the merger on the Company’s ability to retain and hire key personnel, or its operating results and business generally, (viii) there may be liabilities related to the merger that are not known, probable or estimable at this time or unexpected costs, charges or expenses; (ix) the merger may result in the diversion of management’s time and attention to issues relating to the merger; (x) there may be significant transaction costs in connection with the merger; (xi) adverse consequences of legal proceedings instituted against the Company following the announcement of the merger; and (xii) the Company’s stock price may decline significantly if the merger is not consummated. In addition, a number of other important factors could cause the Company’s actual future results and other future circumstances to differ materially from those expressed in any forward-looking statements, including but not limited to 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 March 31, 2025 filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in its other filings with the SEC, including the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, 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 |
| lroth@burnsmc.com / | |
| ir.contact@lensar.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, acquisition-related costs, and impairment of intangible assets 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, impairment of intangible assets is a non-cash charge that is not indicative of our core operating results and acquisition-related costs are 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.
Reconciliations of EBITDA and Adjusted EBITDA to their most comparable GAAP financial measure are set forth below.
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Net loss | $ | (1,764 | ) | $ | (9,043 | ) | $ | (29,109 | ) | $ | (11,200 | ) | |||
| Less: Interest income | (193 | ) | (160 | ) | (352 | ) | (358 | ) | |||||||
| Add: Depreciation expense | 865 | 666 | 1,709 | 1,313 | |||||||||||
| Add: Amortization expense | 230 | 232 | 462 | 506 | |||||||||||
| EBITDA | (862 | ) | (8,305 | ) | (27,290 | ) | (9,739 | ) | |||||||
| Add: Stock-based compensation expense | 766 | 683 | 1,420 | 1,335 | |||||||||||
| Add: Change in fair value of warrant liabilities | (4,332 | ) | 3,923 | 17,382 | 3,428 | ||||||||||
| Add: Acquisition-related costs | 4,174 | — | 8,399 | — | |||||||||||
| Add: Impairment of intangible assets | — | 3,729 | — | 3,729 | |||||||||||
| Adjusted EBITDA | $ | (254 | ) | $ | 30 | $ | (89 | ) | $ | (1,247 | ) | ||||
| LENSAR, Inc. STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except per share amounts) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenue | |||||||||||||||
| Product | $ | 10,910 | $ | 9,534 | $ | 21,828 | $ | 16,967 | |||||||
| Lease | 1,645 | 1,952 | 3,529 | 3,899 | |||||||||||
| Service | 1,380 | 1,150 | 2,737 | 2,358 | |||||||||||
| Total revenue | 13,935 | 12,636 | 28,094 | 23,224 | |||||||||||
| Cost of revenue (exclusive of amortization) | |||||||||||||||
| Product | 4,315 | 3,851 | 8,781 | 6,441 | |||||||||||
| Lease | 859 | 663 | 1,689 | 1,266 | |||||||||||
| Service | 1,737 | 1,309 | 3,475 | 3,040 | |||||||||||
| Total cost of revenue | 6,911 | 5,823 | 13,945 | 10,747 | |||||||||||
| Operating expenses | |||||||||||||||
| Selling, general and administrative expenses | 11,658 | 6,784 | 22,807 | 13,580 | |||||||||||
| Research and development expenses | 1,425 | 1,348 | 2,959 | 2,792 | |||||||||||
| Amortization of intangible assets | 230 | 232 | 462 | 506 | |||||||||||
| Impairment of intangible assets | — | 3,729 | — | 3,729 | |||||||||||
| Total operating expenses | 13,313 | 12,093 | 26,228 | 20,607 | |||||||||||
| Operating loss | (6,289 | ) | (5,280 | ) | (12,079 | ) | (8,130 | ) | |||||||
| Other income (expense) | |||||||||||||||
| Change in fair value of warrant liabilities | 4,332 | (3,923 | ) | (17,382 | ) | (3,428 | ) | ||||||||
| Other income, net | 193 | 160 | 352 | 358 | |||||||||||
| Net loss | (1,764 | ) | (9,043 | ) | (29,109 | ) | (11,200 | ) | |||||||
| Other comprehensive loss | |||||||||||||||
| Change in unrealized loss on investments | (6 | ) | (5 | ) | (9 | ) | (10 | ) | |||||||
| Net loss and comprehensive loss | $ | (1,770 | ) | $ | (9,048 | ) | $ | (29,118 | ) | $ | (11,210 | ) | |||
| Net loss per common share: | |||||||||||||||
| Basic and diluted | $ | (0.15 | ) | $ | (0.79 | ) | $ | (2.46 | ) | $ | (0.98 | ) | |||
| Weighted-average number of common shares used in calculation of net loss per share: | |||||||||||||||
| Basic and diluted | 11,937 | 11,451 | 11,856 | 11,419 | |||||||||||
| LENSAR, Inc. BALANCE SHEETS (In thousands, except per share amounts) | |||||||
| June 30, 2025 | December 31, 2024 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 7,150 | $ | 16,263 | |||
| Short-term investments | 13,159 | 6,192 | |||||
| Accounts receivable, net of allowance of | 4,987 | 6,085 | |||||
| Notes receivable, net of allowance of | 335 | 395 | |||||
| Inventories | 19,243 | 11,428 | |||||
| Prepaid and other current assets | 991 | 1,616 | |||||
| Total current assets | 45,865 | 41,979 | |||||
| Property and equipment, net | 609 | 664 | |||||
| Equipment under lease, net | 15,087 | 13,767 | |||||
| Notes and other receivables, long-term, net of allowance of | 855 | 1,160 | |||||
| Intangible assets, net | 5,650 | 6,112 | |||||
| Other assets | 2,348 | 2,615 | |||||
| Total assets | $ | 70,414 | $ | 66,297 | |||
| Liabilities, redeemable convertible preferred stock, and stockholders’ (deficit) equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 11,314 | $ | 5,995 | |||
| Accrued liabilities | 5,726 | 6,807 | |||||
| Deferred revenue | 2,528 | 1,677 | |||||
| Operating lease liabilities | 522 | 524 | |||||
| Acquisition-related deposit | 10,000 | — | |||||
| Total current liabilities | 30,090 | 15,003 | |||||
| Long-term operating lease liabilities | 1,810 | 2,090 | |||||
| Warrant liabilities | 47,238 | 29,856 | |||||
| Other long-term liabilities | 544 | 702 | |||||
| Total liabilities | 79,682 | 47,651 | |||||
| Series A Redeemable Convertible Preferred Stock, par value | 13,784 | 13,784 | |||||
| Stockholders’ (deficit) equity: | |||||||
| Preferred stock, par value | — | — | |||||
| Common stock, par value | 119 | 116 | |||||
| Additional paid-in capital | 149,236 | 148,035 | |||||
| Accumulated other comprehensive (loss) income | (3 | ) | 6 | ||||
| Accumulated deficit | (172,404 | ) | (143,295 | ) | |||
| Total stockholders’ (deficit) equity | (23,052 | ) | 4,862 | ||||
| Total liabilities, redeemable convertible preferred stock, and stockholders’ (deficit) equity | $ | 70,414 | $ | 66,297 | |||
FAQ
What were LENSAR's (LNSR) Q2 2025 earnings results?
How many ALLY Systems did LENSAR install in Q2 2025?
What is the status of LENSAR's merger with Alcon?
What percentage of LENSAR's revenue is recurring?
What is LENSAR's current market share in U.S. procedures?
