LENSAR, Inc. (Nasdaq: LNSR) announced its financial results for the fiscal quarter ended September 30, 2026, in a Form 8-K filed on November 10, 2026. The company reported total revenue of $14.1 million for the third quarter of 2026, a decrease of 1% compared to the $14.3 million generated in the same period of 2025.
Despite the decline in total revenue, the company highlighted growth in its recurring revenue streams. Recurring revenue increased 17% year-over-year to $12.6 million, representing 89% of total revenue. This compares to $10.8 million in recurring revenue, or 75% of total revenue, during the prior year period. Procedure revenue also grew 17% year-over-year to $9.2 million.
LENSAR attributed the year-over-year revenue decline to lower system sales compared to a robust number of systems sold in the prior year period. However, the company noted that this was partially offset by growth in procedure volume and recurring revenue. The company stated that the third quarter is typically the slowest period of the year for cataract procedures and sales activity due to summer vacations and holidays.
Regarding operational metrics, the company placed 10 ALLY Robotic Cataract Laser Systems during the third quarter. This brought the total installed ALLY base to approximately 225 systems at the end of the quarter, a 22% increase year-over-year. The total laser installed base reached approximately 450 systems. As of September 30, 2026, the company had a backlog of 12 ALLY Systems pending installation.
LENSAR reported a net loss of $4.7 million for the quarter, compared to a net loss of $3.7 million in the prior year period. The company reported an Adjusted EBITDA of $1.7 million for the quarter, compared to a loss of $0.3 million in the prior year period. As of September 30, 2026, the company held $12.6 million in cash, cash equivalents, and investments, down from $18.0 million at December 31, 2025.
For the nine months ended September 30, 2026, total revenue was $44.1 million, compared to $42.4 million in the prior year period. Recurring revenue for the nine-month period was $38.9 million, compared to $33.7 million in the prior year period.
