Lensar reports Q4 revenue $10.2M, consensus $10M

Total revenue for the quarter ended December 31 was approximately $10.2M, compared to total revenue of $11.2M for the quarter ended December 31. Fourth quarter 2022 revenue represented a 32% increase in revenue over the third quarter of 2022. As of December 31 , LENSAR installed ten ALLY Systems and executed contracts for an additional six ALLY Systems, which are expected to be installed in the first half of 2023. The decrease from the fourth quarter of 2021 was primarily due to a decrease in procedure revenue in South Korea. "2022 was a transformational year for LENSAR, driven by the successful U.S. launch of the ALLY System in mid-August, marking the beginning of the transition to our next-generation technology and the many clinical, functional and financial advantages that it delivers to surgeons and their patients. I am pleased to share that we not only met our previously stated goal of having ten ALLY Systems installed and generating revenue by the end of 2022, we were also successful in the execution of contracts for an additional six ALLY Systems, with the installations and trainings scheduled for the first half of 2023," said Nick Curtis, Chief Executive Officer of LENSAR. "Feedback from our early adopters has been enthusiastic and interest from prospective surgeons has continued to grow steadily since launch. While we have been constrained by supply chain challenges, we expect these to ease and are excited to make the ALLY System more broadly available in 2023."