Revenue Growth
Total revenue of $82.0M in Q1 2026, up 5% from $77.9M in Q1 2025, driven primarily by stronger U.S. performance.
Solid International Mix and Growth
International sales of $38.7M represented 48% of total sales and increased ~2.65% year-over-year; company operates in 100+ countries with Europe performing strongly.
Strong Balance Sheet and Cash Generation
Cash, cash equivalents, marketable securities and deposits totaled $537.2M as of 3/31/2026; generated $15.4M from operating activities in Q1.
Product Momentum — Laser Platforms Contributing
Newer platforms (Pico and CO2) made meaningful contributions to Q1 revenue and expand the company’s procedure offering; Erbium laser development targeting FDA clearance by year-end to further broaden portfolio.
Sales Organization Changes and Early Stabilization
North America reorganized to a unified model (new leadership installed end of Q3 2025) and Envision ophthalmology/optometry sales force now operates independently (30 reps); management reports early signs of stabilization, especially in the U.S., with particularly strong progress in March.
Capital Return and Optionality
Significant share repurchases: $127.4M repurchased in 2025 and $52.7M year-to-date under the 2026 program (~3.86M shares YTD); management states all capital allocation options (buybacks, M&A, dividends) remain on the table.
Clear 2026 Guidance Provided
Reiterated full-year 2026 guidance: revenue $365M–$375M; non-GAAP gross margin 74%–76%; non-GAAP income from operations $73M–$78M; non-GAAP diluted EPS $1.33–$1.38.