ORLANDO, Fla.—Lensar, Inc. (Nasdaq: LNSR), a global medical technology company focused on advanced robotic laser solutions for the treatment of cataracts, announced financial results for the quarter ended June 30, 2026, and provided an update on key operational initiatives. In the second quarter, reported revenue reached $16.5 million, reflecting an 18 percent increase from the corresponding period last year, according to an announcement from the company. Net income for the quarter rose to $3.5 million, up from a net loss of $1.8 million in Q2 of the previous year. The company also noted that adjusted EBITDA reached $3.6 million, representing the highest quarterly result in Lensar’s history.
“In all metrics we delivered a significant second quarter, highlighted by 18 percent total revenue growth and 20 percent recurring revenue growth over the second quarter of 2025, and our strongest adjusted EBITDA performance to date along with positive net income,” said Nick Curtis, president and CEO of Lensar. “These results reflect the continued strength of our business model, increasing utilization across our installed base, and sustained demand for the ALLY System. Importantly, procedure revenue grew 23 percent over the second quarter last year as surgeons continued to increase the number of procedures performed using ALLY, reinforcing our belief in the solid health of our underlying business in realizing the long-term potential of our recurring revenue model.”
Lensar’s ALLY Robotic Cataract Laser System is a compact, highly ergonomic system utilizing a fast dual-modality laser and proprietary imaging and software. In addition to the Q2 reported revenue growth, during the three months ended June 30, 2026, the company placed 10 ALLY Systems, bringing the total installed ALLY base to approximately 215 at the end of the quarter. As of June 30, 2026, the company said it had a backlog of 13 ALLY Systems pending installation. ALLY utilizes the company’s advanced robotic technologies with the ability to perform the entire procedure in a sterile operating room or in-office surgical suite.
Net income and adjusted EBITDA increased during Q2 due to improved revenue, lower operating expenses, and a $1.1 million tariff refund, according to the company. Net income growth was offset by lower non-cash income related to the change in fair value of warrant liabilities.
Cash, cash equivalents, and investments totaled $13.6 million as of June 30, 2026, compared with $18.0 million as of December 31, 2025, the company noted.
Lensar’s strong second quarter followed the termination of its proposed merger with Alcon earlier this year. The decision to end the merger agreement between the companies was driven by opposition from the Federal Trade Commission (FTC), the companies stated at the time, which had signaled its intention to block the proposed acquisition.
“We’ve put the uncertainty of the past year behind us, and we’re fully focused on executing our strategy,” Curtis said. “The growth we achieved during the second quarter gives us continued confidence in the trajectory of the business. Our increasing installed base, expanding recurring revenue and healthy backlog of pending installations exiting the second quarter position us well as we continue executing on our commercial strategy. Lensar maintains a sharp focus on driving long-term value for our shareholders, as well as our surgeon partners and the patients they serve.”
