Monitor Q1 2026 for signs of system revenue recovery and whether the $10M Alcon deposit translates into improved cash flow. The strong recurring revenue growth and installed base expansion suggest underlying demand, but the large EPS miss and merger termination raise near-term execution concerns.
Price Chart
Executive Summary
LENSAR reported Q4 2025 revenue of $16.0M (-4% YoY) and a net loss of $1.5M ($-0.12 EPS), missing consensus EPS by 124.5%. The decline was driven by $2.6M lower system sales, partially offset by 17% growth in recurring revenue. The company terminated its merger with Alcon but will retain a $10M deposit, which will be recorded as future income.
Key Financial Metrics
Key Facts
- Q4 2025 revenue: $16.0M (-4% YoY), missing $13.4M consensus
- EPS: $-0.12 vs. $0.49 estimate (124.5% miss)
- System revenue down $2.6M YoY; recurring revenue up 17% to $12.7M
- Terminated Alcon merger but retains $10M deposit as income
- ALLY installed base grew 48% YoY to ~200 systems
Financial Impact
Revenue down $0.7M YoY; EPS miss of $0.61; $10M future income from Alcon deposit
Risk Factors
- System sales continue to decline despite installed base growth
- Loss of merger premium and strategic uncertainty post-Alcon deal collapse
- High customer concentration risk in capital equipment sales
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-133153 |
| Document: lnsr-20260331.htm | 0001193125-26-133153 |
| Document: 0001193125-26-133153-index-headers.html | 0001193125-26-133153 |
| Document: 0001193125-26-133153-index.html | 0001193125-26-133153 |
| Document: 0001193125-26-133153.txt | 0001193125-26-133153 |
| 8-K Data (Synthetic) | 0001193125-26-133153 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $7.25 $5.81 | ▲ +19.86% | ▲ +19.30% | $5.96 (+17.79%) |
Aug 13, 2026 10w ago | 8-K | $8.27 $7.60 | ▼ −8.10% | ▼ −6.35% | $5.96 (−27.93%) |
Jun 23, 2026 17w ago | DEFA14A | $6.06 $5.75 | ▼ −5.12% | ▼ −7.05% | $5.96 (−1.65%) |
May 12, 2026 23w ago | 144 | $5.88 $5.68 | ▼ −3.40% | ▼ −1.67% | $5.96 (+1.36%) |
May 8, 2026 24w ago | Press Release | $5.64 $5.60 | ▲ +0.71% | ▲ +0.73% | $5.96 (−5.67%) |
Apr 15, 2026 27w ago | 8-K | $5.80 $5.77 | ▲ +0.52% | ▲ +6.33% | $5.96 (−2.76%) |
Mar 31, 2026 29w ago | 8-K | $5.96 $5.25 | ▲ +11.91% | ▲ +21.34% | $5.96 (−0.00%) |
Mar 31, 2026 29w ago | Press Release | $5.96 $5.35 | ▼ −10.23% | ▼ −19.66% | $5.96 (+0.00%) |
Mar 13, 2026 32w ago | 8-K/A | $9.85 $5.92 | ▼ −39.90% | ▼ −43.49% | $5.96 (−39.49%) |
US Market Status
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