LENSAR® Reports Third Quarter 2026 Financial Results and Provides Business Update

(NASDAQ:LNSR) LENSAR, Inc. announced financial results for the quarter ended September 30, 2026, and provided an update on key operational initiatives. Total revenue for the third quarter of 2026 was $14.1 million, compared to $14.3 million in the third quarter of 2025, reflecting a 1% year-over-year decline primarily due to lower system sales, partially offset by growth in procedure volume and recurring revenue. Recurring revenue increased 17% year-over-year to $12.6 million, representing 89% of total revenue, up from $10.8 million or 75% of total revenue in the prior year period. Procedure revenue for the quarter was $9.2 million, up from $7.8 million in Q3 2025, also a 17% increase. Procedure volume reached 52,545 in Q3 2026, compared to 46,811 in Q3 2025, a 12% increase. The total installed base of laser systems was approximately 450 at quarter end, with the ALLY installed base at approximately 225 systems, up from 185 a year earlier, representing a 22% increase. The company placed 10 ALLY Systems during the quarter and had a backlog of 12 ALLY Systems pending installation as of September 30, 2026. Net loss for the third quarter was $(4.7) million, compared to $(3.7) million in Q3 2025. Adjusted EBITDA was $1.7 million, compared to $(0.3) million in the prior year period. For the nine months ended September 30, 2026, total revenue was $44,054,000, compared to $42,410,000 for the same period in 2025. Cash, cash equivalents, and investments totaled $12.6 million as of September 30, 2026, compared to $18.0 million at December 31, 2025. System revenue for Q3 2026 was $1,547,000, compared to $3,546,000 in Q3 2025. Lease revenue was $1,712,000 in Q3 2026, up from $1,560,000 in Q3 2025. Service revenue was $1,704,000 in Q3 2026, up from $1,389,000 in Q3 2025. Total recurring revenue for Q3 2026 was $12,584,000, compared to $10,770,000 in Q3 2025. For the nine months ended September 30, 2026, system revenue was $5,192,000, recurring revenue was $38,862,000, and procedure volume totaled 165,321. Cost of revenue for Q3 2026 was $5,967,000, compared to $8,280,000 in Q3 2025. Operating expenses for Q3 2026 were $9,597,000, compared to $13,616,000 in Q3 2025. Operating loss for Q3 2026 was $(1,433,000), compared to $(7,580,000) in Q3 2025. The company reported a change in fair value of warrant liabilities of $(3,365,000) in Q3 2026, compared to $3,734,000 in Q3 2025. Stock-based compensation expense for Q3 2026 was $850,000. Depreciation expense for Q3 2026 was $843,000, and amortization expense was $227,000. The company continues to focus on advancing the capabilities and adoption of its ALLY Robotic Cataract Laser System and strengthening its recurring revenue base.