LENSAR Inc (LNSR) Q3 2024 Earnings Call Highlights: Record Revenue Growth and Strategic Expansion

GuruFocus.com11-08

Revenue: $13.5 million in Q3 2024, a 38% increase from Q3 2023. Gross Margin: $6.3 million, representing a 46% gross margin percentage. Net Loss: $1.5 million or $0.13 loss per common share. Adjusted ...

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GuruFocus has detected 6 Warning Signs with LNSR.\n\nRelease Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nLENSAR Inc (NASDAQ:LNSR) achieved a record-breaking third quarter with a 118% increase in ALLY system placements compared to the previous year.\nThe company expanded its market presence by successfully launching the ALLY system in the EU and Taiwan, contributing to significant international sales.\nRevenue for the third quarter increased by 38% year-over-year, reaching $13.5 million, driven by strong system placements and procedure growth.\nThe company's recurring revenue grew by 22% over the trailing 12 months, indicating a strong foundation for future growth.\nLENSAR Inc (NASDAQ:LNSR) achieved a positive adjusted EBITDA of $429,000, marking a significant improvement from the previous year's negative adjusted EBITDA.\n\n Negative Points \n\nThe company's gross margin percentage decreased from 50% in the previous year to 46% in the third quarter of 2024.\nOperating expenses increased to $7.5 million in the third quarter, primarily due to higher SG&A spending.\nNet loss for the quarter was $1.5 million, compared to a net income of $2.6 million in the same quarter last year.\nThe company faces challenges in maintaining consistent system placements due to factors like holidays and natural disasters affecting procedure volumes.\nLENSAR Inc (NASDAQ:LNSR) acknowledges the difficulty in expanding into the femto naive market, which requires more resources and effort compared to converting existing competitive sites.\n\n Q & A Highlights \nQ: Can you provide more commentary on Q4 expectations, particularly regarding system placements and procedural volume growth? A: Nicholas Curtis, CEO: We expect similar activity outside the US in terms of system shipments as in Q3, likely around 10 to 11 systems. The fourth quarter is typically the highest for cataract procedures globally, despite recent disruptions like hurricanes. We anticipate strong procedure growth and are working to install a significant number of systems. Thomas Staab, CFO: The placement activity in Q3 was exceptional, and it would be challenging to exceed that in Q4 due to the holidays and other factors. However, we expect procedure volume to increase.\nQ: How should we think about 2025 in terms of placements and procedural growth? A: Thomas Staab, CFO: We'll provide more guidance after the full year results. It's a game of inches, and we need to ensure we have a good understanding of when things will hit before projecting too far ahead. Nicholas Curtis, CEO: We aim to provide more granular guidance on procedure growth as we approach 2025, given the large number of systems installed this year.\nQ: What is your strategy for the Femto naive market? A: Nicholas Curtis, CEO: Our primary focus is on taking market share from competitive sites, as this is a more fertile ground. The Femto naive market requires more resources, and we want to build critical mass before aggressively pursuing it. However, we do have some accounts in this segment where customers have shown interest.\nQ: Can you elaborate on the impact of holidays on system placements in the US? A: Thomas Staab, CFO: To recognize a system placement in the US, we need a contract, shipment, installation, and physician training. The holiday season effectively shortens the quarter by about 2 to 2.5 weeks, impacting our ability to complete these steps.\nQ: What are your expectations for recurring revenue growth? A: Nicholas Curtis, CEO: We expect recurring revenue to grow significantly as more systems reach their optimal run rate. With over 40 systems placed in the last two quarters, we anticipate material growth in recurring revenue on a rolling forward basis.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481314847"}