Q4 2025 LENSAR Inc Earnings Call Transcript
Key Points
- LENSAR Inc (LNSR) achieved a 50% increase in the ALLY installed base compared to year-end 2024.
- The company reported a 20% year-over-year growth in procedure volume for both Q4 and the full year 2025.
- LENSAR Inc (LNSR) maintained a positive adjusted EBITDA for 2025, indicating operating cash flow positive operations.
- The ALLY Robotic Laser Cataract System gained significant market share, increasing from 14% to 23.4% in the US by the end of 2025.
- Recurring revenue grew by 15% in 2025, reflecting the continued expansion of the installed base and increased system utilization.
- The termination of the acquisition agreement with Alcon led to a period of uncertainty and delayed decision-making among customers.
- LENSAR Inc (LNSR) experienced a 4% decline in total revenue year-over-year for Q4 2025, primarily due to lower system sales.
- The company faced a 51% increase in SG&A expenses year-over-year in Q4 2025 due to merger-related costs.
- International business expansion was significantly slowed due to uncertainty over the post-acquisition distribution landscape.
- Gross margin for the full year 2025 declined to 46% from 48% in 2024, impacted by inflationary cost increases and tariffs.
Good morning and thank you for your participation. (Operator Instructions) As a reminder, this conference call will be recorded.
I would now like to turn the call over to Lee Roth, President of Burns McClellan, Investor Relations advisor to LENSAR. Mr. Roth, please go ahead.
Thanks, Josh. Once again, good morning, everyone, and welcome to the LENSAR fourth-quarter and full-year 2025 financial results and strategic update conference call. Earlier this morning, the company issued a press release providing an overview of its financial results for the fourth quarter of 2025. This release is available on the Investor Relations section of the company's website at www.lensar.com.
Joining me on the call today is Nick Curtis, Chief Executive Officer; and Tom Staab, Chief Financial Officer of LENSAR, who will provide an overview of recent developments, our go-forward strategy, and our Q4 financial results. Following these prepared remarks, we'll
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