Bitcoin price today: dips below $112k, near 6-wk low despite Fed cut bets
ORLANDO, Fla. - LENSAR , Inc. (NASDAQ:LNSR), a medical technology company specializing in robotic laser solutions for cataract treatment, reported fourth-quarter 2024 results that exceeded analyst expectations for revenue, driving its stock up 23.7% in response.
The company posted revenue of $16.7 million for the quarter, surpassing the consensus estimate of $14.95 million and marking a 38% increase from the same period last year. However, LENSAR reported a loss of $1.61 per share, which was wider than the analyst estimate of a $0.18 per share loss.
LENSAR’s strong performance was primarily attributed to increased sales of its ALLY Robotic Cataract Laser Systems and higher procedure volumes. The company placed 31 ALLY systems in the fourth quarter, bringing the total placements for 2024 to over 80, an 86% increase from 2023.
"The fourth quarter marked an incredibly strong conclusion to a successful year across all of LENSAR’s key operating metrics," said Nick Curtis, President and CEO of LENSAR. "We placed 31 ALLY systems in Q4 for a total of over 80 placements in 2024, and have 16 additional ALLY systems in backlog at the end of the year."
The company’s total installed base grew to approximately 385 systems as of December 31, 2024, representing a 26% YoY increase. Worldwide procedure volumes rose 24% in 2024 to nearly 170,000, with U.S. procedure volumes increasing 21% YoY.
LENSAR’s recurring revenue, which includes procedure, lease, and service revenue, exceeded $40 million for the full year, a 23% increase from 2023. The company expects to continue growing its ALLY placements and recurring revenue in 2025, projecting accelerated topline revenue growth beyond the 27% achieved in 2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.