LENSAR (LNSR) investor relations material

Executive summary

• Achieved 18% year-over-year revenue growth to $16.5 million in Q2 2026, driven by higher procedure volume, increased system placements, and strong ALLY System adoption.

• Net income reached $3.5 million, reversing a $1.8 million loss in Q2 2025, aided by a favorable change in warrant liabilities and a $1.1 million tariff refund.

• Adjusted EBITDA was $3.6 million, the highest to date, reflecting operational leverage and lower operating expenses.

• Installed base of ALLY Systems rose to 215, with a total global installed base of 445 and a backlog of 13 systems pending installation.

• Continued investment in commercial efforts and international market presence, particularly in Europe.

Financial highlights

• Q2 2026 revenue: $16.5 million (+18% YoY); recurring revenue: $13.7 million (+20% YoY, 83% of total); procedure revenue: $10.2 million (+23% YoY); procedure volume: 58,682 (+13%).

• Gross profit was $9.8 million with a gross margin of 59% (52% excluding a $1.1 million tariff refund), up from 50% in Q2 2025.

• Adjusted EBITDA reached $3.6 million, up from negative $0.3 million in Q2 2025.

• Cash and cash equivalents at June 30, 2026 were $13.6 million; a $10 million revolving credit facility was secured in August 2026.

• GAAP net income margin improved to 21.4% in Q2 2026.

Outlook and guidance

• Management expects annual revenue and SG&A expenses to increase as ALLY System placements grow.

• Operating expenses expected to trend higher as investments in commercial growth resume; income and EBITDA may vary as spending normalizes.

• Q3 procedure volumes may be seasonally lower due to holidays and vacations.

• Confident in long-term growth driven by expanding installed base and recurring revenue.

• Current cash, investments, and credit facility are believed sufficient to fund operations for at least 12 months.