LENSAR, Inc. LNSR

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

We are a commercial-stage medical device company focused on designing, developing and marketing advanced laser systems for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. Our current systems, the LENSAR Laser System, or LLS, and ALLY Robotic Cataract Laser System®, or ALLY System, or collectively, the Systems, incorporate a range of proprietary technologies designed to assist the surgeon in obtaining better visual outcomes, efficiency and reproducibility by providing advanced imaging, simplified procedure planning, efficient design and precision. We believe the cumulative effect of these technologies results in laser systems that can be quickly and efficiently integrated into a surgeon's existing practice, is easy to use and provides surgeons the ability to deliver improved visual outcomes with enhanced precision and the ability to do so consistently. The ALLY System combines all of the features from our LLS with a dual-modality laser, integrated in a small, compact cataract treatment system that is designed to allow surgeons to perform sterile cataract surgery in a single operating room. This system is designed to be a significant medical advancement and provide improved efficiency and financial benefit to a surgeon's practice and to ambulatory surgery centers, or ASCs. The ALLY System received clearance from the U.S. Food and Drug Administration, or FDA, in June 2022, and we executed a controlled and targeted initial launch of the ALLY System in August 2022. The ALLY System is available to all U.S. and EU cataract surgeons and has also received regulatory clearance in India, Taiwan, as well as certain other countries.

Last close 6.07 2026-10-23
Market cap $74.6M 2026-06-30 share count
52-week range 4.95 - 12.94

Valuation FY2025 figures against the last close

P/S1.4x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.87

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Europe
  • Asia (Excluding South Korea)
  • South Korea
  • Other
Revenue by geography, 5 categories over 2 years. The same figures are in the table below. FY2025 United States, FY2025: 34.3M (66.4%) 66% United States Europe, FY2025: 8.4M (16.3%) 16% Europe Asia (Excluding South Korea), FY2025: 8M (15.5%) 16% South Korea, FY2025: 658K (1.3%) Other, FY2025: 238K (0.5%) FY2024 United States, FY2024: 28.9M (62.9%) 63% Europe, FY2024: 10.2M (22.1%) 22% Asia (Excluding South Korea), FY2024: 5.5M (11.9%) 12% South Korea, FY2024: 848K (1.8%) Other, FY2024: 563K (1.2%)
Region FY2025FY2024
United States $34.3M $28.9M
Europe $8.4M $10.2M
Asia (Excluding South Korea) $8.0M $5.5M
South Korea $658.0K $848.0K
Other $238.0K $563.0K

As the company reported it, from the “Revenue From Contracts With Customers - Summary of Product and Service Revenue Disaggregated by Geographic Region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $51.7M$46.0M$35.7M$29.4M$29.5M$22.8M$26.3M—
Cost of revenue $31.3M$27.6M$21.1M$15.4M$16.6M$12.3M$17.3M—
Gross profit $20.3M$18.3M$14.7M$14.0M$12.9M$10.5M$9.0M—
R&D $5.6M$5.3M$6.1M$11.8M$12.4M$7.6M$7.6M—
SG&A $45.2M$26.5M$26.1M$27.2M$23.9M$23.8M$17.1M—
Operating income -$24.6M-$10.7M-$12.2M-$20.2M-$19.7M-$18.5M-$12.7M—
Interest expense —————$1.3M$2.0M—
Pre-tax income -$34.3M-$31.4M-$14.4M-$19.9M-$19.6M-$19.8M-$14.7M—
Net income -$34.3M-$31.4M-$14.4M-$19.9M-$19.6M-$19.8M-$14.7M—
EPS, basic -2.87-2.73-1.31-1.96-2.09———
EPS, diluted -2.87-2.73-1.31-1.96-2.09-4.28-13.70—
Shares, diluted (wtd. avg.) 12.0M11.5M11.0M10.2M9.4M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $13.0M$16.3M$20.6M$14.7M$31.6M$40.6M$4.6M—
Short-term investments $5.0M$6.2M$3.4M—————
Receivables $6.4M$6.1M$4.0M$6.0M$4.6M$2.0M$3.4M—
Inventory $21.5M$11.4M$15.7M$11.7M$6.5M$13.5M$8.1M—
Total current assets $46.8M$42.0M$46.4M$33.7M$44.8M$58.4M$17.2M—
Property, plant and equipment $505.0K$664.0K$679.0K$563.0K$756.0K$832.0K$720.0K—
Other intangibles $5.2M$6.1M$11.0M$12.1M$10.9M$12.1M$13.4M—
Total assets $71.4M$66.3M$69.6M$55.8M$66.5M$79.1M$34.5M—
Accounts payable $19.0M$6.0M$4.0M$5.4M$2.7M$2.5M$1.6M—
Total current liabilities $40.6M$15.0M$11.6M$11.4M$8.7M$8.5M$7.8M—
Total liabilities $83.7M$47.7M$22.4M$13.9M$11.6M$11.9M$65.1M—
Retained earnings -$177.6M-$143.3M-$111.9M-$97.5M-$77.6M-$58.0M-$38.2M—
Total equity -$26.0M$4.9M$33.4M$42.0M$54.9M$67.2M-$30.6M-$20.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow -$14.8M-$2.3M-$9.7M-$14.9M-$9.0M-$13.8M-$12.6M—
Depreciation and amortisation $3.6M$3.0M$2.4M$2.3M$1.5M$1.3M$2.6M—
Stock-based compensation $3.1M$2.7M$5.5M$6.6M$6.9M$9.0M$102.0K—
Capital expenditure $83.0K$156.0K$236.0K$115.0K$354.0K$366.0K$389.0K—
Investing cash flow $1.3M-$2.2M-$4.2M-$115.0K-$354.0K-$326.0K-$2.1M—
Financing cash flow $10.3M$78.0K$19.8M-$2.0M$361.0K$50.0M$15.9M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-279484.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -50M -25M 0 25M 50M 75M Revenue, FY2019: 26.3M Gross profit, FY2019: 9M Net income, FY2019: -14.7M Revenue, FY2020: 22.8M Gross profit, FY2020: 10.5M Net income, FY2020: -19.8M Revenue, FY2021: 29.5M Gross profit, FY2021: 12.9M Net income, FY2021: -19.6M Revenue, FY2022: 29.4M Gross profit, FY2022: 14M Net income, FY2022: -19.9M Revenue, FY2023: 35.7M Gross profit, FY2023: 14.7M Net income, FY2023: -14.4M Revenue, FY2024: 46M Gross profit, FY2024: 18.3M Net income, FY2024: -31.4M Revenue, FY2025: 51.7M Gross profit, FY2025: 20.3M Net income, FY2025: -34.3M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $26.3M $22.8M $29.5M $29.4M $35.7M $46.0M $51.7M
Gross profit — $9.0M $10.5M $12.9M $14.0M $14.7M $18.3M $20.3M
Net income — -$14.7M -$19.8M -$19.6M -$19.9M -$14.4M -$31.4M -$34.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Director nominations Dates and mechanics for shareholders proposing directors. Item 5.08
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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