Lensar Inc ( (LNSR) ) has released its Q3 earnings. Here is a breakdown of the information Lensar Inc presented to its investors.
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LENSAR Inc., a commercial-stage medical device company, specializes in advanced robotic laser solutions for cataract treatment and astigmatism management, offering innovative systems such as the ALLY Robotic Cataract Laser System™.
In its third quarter of 2024, LENSAR reported robust growth, including a significant increase in system placements, revenue, and market share, driven by its strategic expansion into European and Southeast Asian markets. The company saw a 38% increase in total revenue compared to the same quarter last year, underpinned by the sale of 11 ALLY systems outside the United States.
Key financial highlights include a 29% increase in worldwide procedure volumes and a 22% growth in recurring revenue over the trailing twelve-month period. LENSAR’s total installed base grew by 20% year-over-year, now exceeding 355 systems globally. Despite these gains, the company reported a net loss of $1.5 million for the quarter, attributed to a decrease in warrant liability and other expenses.
Going forward, LENSAR’s management remains optimistic about sustained growth, emphasizing continued demand and expansion opportunities in international markets as it enters its traditionally strong fourth quarter.
