Business
LENSAR Reports Second Quarter 2022 Financial Results and Provides Business Update
Company Receives FDA Clearance of ALLY™ Adaptive Cataract Treatment System Second Quarter Procedure Volume Increases 8%, in the Aggregate, and 15% in the
About this update from Lensar, Inc.
[{"type":"text","content":"\nCompany Receives FDA Clearance of ALLY™ Adaptive Cataract Treatment System\n\nSecond Quarter Procedure Volume Increases 8%, in the Aggregate, and 15% in the U.S. Over Q2 2021 Levels\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 financial results for the quarter ended June 30, 2022 and provided an update on operational initiatives.\n\n“In June, we achieved a significant milestone in LENSAR’s history, the Food and Drug Administration (“FDA”)’s clearance of our ALLY Adaptive Cataract Treatment System. Interest in the ALLY System has been high since we initiated our pre-clearance marketing efforts and continues to increase as we near the commercial placement of the first system. We are navigating supply chain challenges and expect to have approximately 10 ALLY systems placed in the U.S. in 2022.” said Nick Curtis, Chief Executive Officer of LENSAR. “Our results for the second quarter were impacted by several factors: strong U.S. procedure volumes were partially offset by softness in the rest of the world and product revenues declined as we completed placements of our last new LENSAR Laser Systems (“LLS”). We are extremely pleased with our continued progress and ability to navigate and successfully pivot around challenges outside of our company. We are proud of our ongoing accomplishments, including increasing U.S. femtosecond laser cataract procedure market share over the last few quarters, which we believe positions us well for our ALLY System launch this upcoming quarter. We view the initial launch and rollout of the ALLY System as the foundation for LENSAR’s sustainable growth and success over the long-term.”\n\nSecond Quarter 2022 Financial Results\n\nTotal revenue for the quarter ended June 30, 2022 was $8.0 million, an increase of $0.1 million, or 1%, compared to total revenue of $7.9 million for the quarter ended June 30, 2021. The increase was primarily attributable to increased procedure volume as compared to the second quarter of 2021, partially offset by a decline in revenue associated with lower LLS system sales in 2022 as we completed placement of the last new LLS systems as part of our operational transition to the ALLY System’s c...