Business
LENSAR Reports Second Quarter 2023 Results and Provides Business Update
Increased ALLY® Adaptive Cataract Treatment System installed base to 28 systems with a backlog of 6 additional systems for installation as of June 30, 2023
About this update from Lensar, Inc.
[{"type":"text","content":"\nIncreased ALLY® Adaptive Cataract Treatment System installed base to 28 systems with a backlog of 6 additional systems for installation as of June 30, 2023\n\n\nU.S. procedure volumes increased 13% over second quarter 2022; 1H 2023 procedure volumes increased 15% year-over-year at sites that have upgraded from LENSAR Laser System (LLS) or added an ALLY\n\n\n$25.5 million cash available to support ongoing ALLY commercial launch activities and market expansion initiatives\n\n\n ORLANDO, Fla.--(BUSINESS WIRE)--\nLENSAR, Inc. (Nasdaq: LNSR) (“LENSAR” or “the Company”), a global medical technology company focused on advanced femtosecond laser solutions for the treatment of cataracts, today announced financial results for the quarter ended June 30, 2023 and provided an update on key operational initiatives.\n\n\n“The second quarter was a strong quarter for us, which saw a substantive number of ALLY placements that we had been working on coming to fruition, resulting in a steady expansion of the ALLY installed base over the period. We believe the progress we have made, particularly over the last six months, has established a strong foundation for continued, sustainable long-term growth,” said Nick Curtis, President and CEO of LENSAR. “Our second quarter revenue increased nearly 50% as compared to the second quarter last year, driven by both strong system sales and an increase in lease revenue, resulting from several multi-system placements and our initial penetration into private-equity owned ophthalmology groups. With a total of 18 ALLY installs through June 30, 2023, we have made significant progress toward achieving our previously stated objective of more than 30 ALLY systems installed in the United States in 2023.”\n\n\nHe added, “The favorable utilization trends we observed in Q1 continued in the second quarter, as ALLY users who transitioned from the previous-generation LLS or added an ALLY performed an average of 15% more procedures in the first half of 2023 than during the same period last year, providing further evidence of the speed and operational efficiencies realized with ALLY’s next-generation technology. As a result of the ALLY market adoption and increased utilization of LENSAR technology, we continued to grow market share in the second quarter, with an estimated 15.6%(1) of all U.S. FLACS procedures performed on LENS...