LENSAR(US:LNSR)2026-03-31 10:10Financial Performance - Total revenue for Q4 2025 was $16.0 million, a decrease of 4% from Q4 2024, primarily due to a $2.6 million decline in system revenue, partially offset by a $1.8 million increase in revenue from higher worldwide procedure volume[3]. - Total revenue for Q4 2025 was $16,025,000, a decrease of 4.23% from $16,731,000 in Q4 2024[26]. - Recurring revenue for the full year 2025 exceeded $46.3 million, reflecting a 15% increase over 2024, with 79% of total revenue for both Q4 and the full year coming from recurring sources[2][6]. - Product revenue for the twelve months ended December 31, 2025, was $45,928,000, an increase of 11.00% compared to $41,065,000 in 2024[26]. - The net loss for Q4 2025 was $1.5 million, or ($0.12) per share, a significant improvement from a net loss of $18.7 million, or ($1.61) per share, in Q4 2024[9]. - Net loss for Q4 2025 was $1,458,000, compared to a net loss of $18,702,000 in Q4 2024[26]. - Adjusted EBITDA for Q4 2025 was $0.6 million, compared to $0.5 million in Q4 2024, indicating a positive trend in operational performance[10][22]. - Adjusted EBITDA for Q4 2025 was $595,000, up from $478,000 in Q4 2024[24]. Operational Metrics - In Q4 2025, LENSAR placed 15 ALLY Robotic Cataract Laser Systems, increasing the installed base to approximately 200 systems, a 48% growth compared to the end of 2024[4]. - Worldwide procedure volume increased by approximately 20% in Q4 2025 compared to Q4 2024, with a total of 206,014 procedures performed in 2025, up from 169,506 in 2024[3][6]. - The total combined installed base of LENSAR Laser Systems and ALLY Systems reached approximately 435 systems as of December 31, 2025, representing a 13% increase from the previous year[5]. - The company has a backlog of 13 ALLY Systems pending installation as of December 31, 2025, indicating ongoing demand for its products[4]. Expenses and Liabilities - Selling, general and administrative expenses rose to $10.3 million in Q4 2025, a 51% increase from $6.8 million in Q4 2024, largely due to acquisition-related costs[6][8]. - Selling, general and administrative expenses for the twelve months ended December 31, 2025, were $45,157,000, an increase of 70.50% from $26,488,000 in 2024[26]. - Research and development expenses for the twelve months ended December 31, 2025, were $5,622,000, slightly up from $5,329,000 in 2024[26]. - Total current assets increased to $46,771,000 in 2025 from $41,979,000 in 2024, reflecting a growth of 11.00%[28]. - Total liabilities rose significantly to $83,665,000 in 2025, compared to $47,651,000 in 2024, marking a 75.61% increase[28]. - Cash and cash equivalents decreased to $12,974,000 in 2025 from $16,263,000 in 2024, a decline of 20.00%[28]. - As of December 31, 2025, LENSAR had cash, cash equivalents, and investments totaling $18.0 million, down from $22.5 million at the end of 2024[11].