Business
LENSAR Announces Preliminary Fourth Quarter and Full Year 2022 Results
Installed ten ALLY® Adaptive Cataract Treatment Systems in 2022 Contracts for an additional six ALLY Systems executed in December 2022; Installations
About this update from Lensar, Inc.
[{"type":"text","content":"\nInstalled ten ALLY® Adaptive Cataract Treatment Systems in 2022\n\nContracts for an additional six ALLY Systems executed in December 2022; Installations expected in first half 2023\n\n ORLANDO, Fla.--(BUSINESS WIRE)--\nLENSAR, Inc. (Nasdaq: LNSR) (“LENSAR” or “the Company”), a global medical technology company focused on advanced femtosecond laser surgical solutions for the treatment of cataracts, today announced its preliminary unaudited revenue for the fourth quarter and full year ended December 31, 2022 and its cash balance as of December 31, 2022, and provided an update on the launch of its ALLY® Adaptive Cataract Treatment System.\n\n“2022 was a transformational year for LENSAR, driven by the successful U.S. launch of the ALLY System in mid-August, marking the beginning of the transition to our next-generation technology and the many clinical, functional and financial advantages that it delivers to surgeons and their patients. I am pleased to share that we not only met our previously stated goal of having ten ALLY Systems installed and generating revenue by the end of 2022, we were also successful in the execution of contracts for an additional six ALLY Systems, with the installations and trainings scheduled for the first half of 2023,” said Nick Curtis, Chief Executive Officer of LENSAR. “Feedback from our early adopters has been enthusiastic and interest from prospective surgeons has continued to grow steadily since launch. While we have been constrained by supply chain challenges, we expect these to ease and are excited to make the ALLY System more broadly available in 2023.”\n\nFourth quarter and full year 2022 preliminary unaudited operating results\n\nThe Company expects to report the following financial information and key operational metrics.\n\n\nTotal revenue for the quarter ended December 31, 2022 was approximately $10.2 million, compared to total revenue of $11.2 million for the quarter ended December 31, 2021. The decrease from the fourth quarter of 2021 was primarily due to a decrease in procedure revenue in South Korea.\n\n\nFourth quarter 2022 revenue represented a 32% increase in revenue over the third quarter of 2022.\n\n\nAs of December 31, 2022, LENSAR installed ten ALLY Systems and executed contracts for an additional six ALLY Systems, which are expected to be installed in the first half of 2023.\n\n\...