LENSAR, Inc. (LNSR) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

proud of what we've accomplished to date, and I believe this is the start of a strong quarterly growth in placements and procedure revenue. Heretofore, Ally has only been marketed in the U.S. as we await additional regulatory approvals. Despite selling into a single market, Lensar has been able to achieve strong top-line growth and gain significant market share based on the compelling value proposition of Ally. U.S. sales pipeline activity and system utilization have steadily increased, and we look forward to offering Ally in other markets, especially Europe. Although Ally is not widely available outside the US, surgeons in Europe, South Korea, Taiwan, and Hong Kong are awaiting regulatory clearance and commercial availability in their home countries, and our distributors are preparing to make Ally available quickly after receipt of marketing authorizations. We expect additional regulatory clearances before the end of 2024. At the recent ASCRS annual meeting in Boston, We had our highest level of surgeon engagement in the company's history, completing nearly 100 Ally demos. In the femtosecond laser cataract session, eight of nine presentations were from Lensar surgeons, including one which was voted best presentation of the session. Many of the presentations in the session highlighted the clinical outcomes associated with managing astigmatism and increased efficiency-related benefits of Ally, and overall enthusiasm toward the technology is continuing to grow. We presented 14 papers in total at the conference as we continue to be recognized as the innovation leader in laser refractive cataract surgery. As we've described in the past, Lensar's focused on three key aspects in the delivery of Ally. We're focused on delivering technology that enables much higher efficienc...