LENSAR Installed Base Rises 48%, Recurring Revenue Tops $46.3M in 2025
LENSAR placed 15 ALLY Robotic Cataract Laser Systems in Q4, expanding its ALLY installed base to ~200 systems, a 48% increase year-over-year, with a backlog of 13 systems pending installation. Recurring revenue reached $46.3 million in 2025, up 15%, representing 79% of total revenue.
1. Installed Base and Backlog Growth
During Q4 2025, LENSAR placed 15 ALLY Robotic Cataract Laser Systems, bringing the ALLY installed base to approximately 200 units, a 48% increase over December 31, 2024. The company reported a backlog of 13 ALLY Systems awaiting installation and a total combined laser installed base of about 435 systems, up 13% year-over-year.
2. Recurring Revenue and Procedure Volume
Recurring revenue for the full year reached $46.3 million, a 15% increase from 2024, and accounted for 79% of total revenue in both Q4 and the full year. Worldwide procedure volume climbed to 206,014 in 2025, up 22% from the prior year, driven by higher utilization across the expanding installed base.
3. Profitability and Cash Position
Q4 2025 net loss narrowed to $1.5 million, or $0.12 per share, compared to a $18.7 million loss a year earlier, with Adjusted EBITDA turning positive at $0.6 million. SG&A expenses rose 51% due to $3.5 million in acquisition-related costs, and year-end cash and investments stood at $18.0 million, down from $22.5 million at the end of 2024.