LNSR•LENSAR reported Q3 revenue of $14.13 million, slightly below the $14.20 million consensus estimate, and down 1% year over year. Recurring revenue rose 17% to $12.6 million, or 89% of total revenue.
LENSAR said Q3 revenue fell 1% year over year to $14.13 million, slightly missing analyst expectations of $14.20 million. The company attributed the decline to summer seasonality and fewer system sales than a year earlier, despite 12% growth in procedure volume.
Recurring revenue increased 17% year over year to $12.6 million, representing 89% of total revenue. LENSAR reported a Q3 loss per share of $0.38 and did not provide specific financial guidance for the current quarter or full year.
