LENSAR (LNSR) AI Stock Analysis

• Market Cap: $145.25M
• Dividend Yield: N/A
• Average Volume (3M): 61.68K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.88
• Revenue Growth: 29.34%
• EPS Growth: -283.53%
• Country: US
• Employees: 140
• Sector: Healthcare
• Sector Strength: 51
• Industry: Medical - Devices
• EPS (TTM): -0.15
• Shares Outstanding: 11,934,784
• 10 Day Avg. Volume: 65,607
• 30 Day Avg. Volume: 61,683
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: 2.62
• Enterprise Value/Gross Profit: 5.56
• Enterprise Value/Ebitda: -12.71
• 1Y Price Target: $12.50
• Price Target Upside: 2.71% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 47 Neutral
• Price Target: $12.50 ▲(2.71% Upside)

LENSAR's overall stock score reflects significant financial challenges and a weak valuation, partially offset by a positive corporate event in the form of a merger approval. Technical indicators suggest bearish momentum, further impacting the score.

Positive Factors

Acquisition

The announced acquisition by Alcon is seen as a positive outcome for both Lensar and Alcon, with Lensar experiencing strong adoption of its ALLY System in the cataract surgery market.

Market Expansion

LNSR highlighted that ~75% of US FY24 placements have come from new customers, indicating strong market expansion and competitive positioning.

Negative Factors

Growth Challenges

Lensar is required to achieve substantial procedure growth to meet the terms of the acquisition agreement, which may pose challenges.

Valuation

The stock is rated as Neutral because the implied takeout value is seen as fairly valued, indicating limited upside potential.

LENSAR Business Overview & Revenue Model

Company Description

LENSAR, Inc. (LNSR) is a medical technology company specializing in the development and commercialization of advanced femtosecond laser systems for cataract surgery. Its flagship product, the LENSAR Laser System, is designed to provide precision and accuracy in cataract treatment, enhancing surgical outcomes and patient safety. The company operates within the healthcare sector, focusing on ophthalmology and leveraging cutting-edge technology to address the needs of eye care professionals and their patients.

How the Company Makes Money

LENSAR generates revenue primarily through the sale and leasing of its LENSAR Laser System to ophthalmologists, hospitals, and surgical centers. The company also earns money from service agreements and maintenance contracts associated with its laser systems, ensuring continuous support and operational efficiency for its clients. Additionally, LENSAR may engage in strategic partnerships and collaborations with other companies in the ophthalmic industry to expand its market reach and enhance its technological offerings, contributing to its revenue growth.

LENSAR Financial Statement Overview

Summary

LENSAR is experiencing revenue growth but faces significant financial challenges, including persistent losses, negative equity, and cash flow issues. These factors indicate a need for strategic improvements in profitability and balance sheet management.

Income Statement

LENSAR has demonstrated revenue growth, with a TTM increase of approximately 6.68% compared to the previous year. However, the company continues to face profitability challenges, as reflected in negative net profit and EBIT margins, standing at -99.17% and -16.49% respectively for the TTM. The gross profit margin is 47.45%, showing some strength in core operations, but the persistent losses are concerning.

Balance Sheet

The company's financial stability is concerning with a negative stockholders' equity of -$22.14 million, indicating insolvency risk. The debt-to-equity ratio is negative due to negative equity, complicating leverage analysis. The equity ratio is also negative. These factors highlight financial instability, despite manageable total liabilities relative to assets.

Cash Flow

LENSAR's cash flow situation is challenging, with negative free cash flow of -$4.05 million in the TTM and a negative free cash flow growth rate, suggesting cash generation issues. The operating cash flow to net income ratio is 0.069, indicating poor cash conversion of net losses. Continued reliance on financing activities is evident from cash inflows in this segment.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	58.36M	53.49M	42.16M	35.36M	34.46M	26.38M
Gross Profit	27.52M	25.85M	21.11M	19.95M	17.83M	14.07M
EBITDA	-12.04M	-27.47M	-8.71M	-16.77M	-18.10M	-15.36M
Net Income	-49.31M	-31.40M	-14.38M	-19.91M	-19.65M	-19.77M
Balance Sheet
Total Assets	70.41M	66.30M	69.58M	55.84M	66.47M	79.12M
Cash, Cash Equivalents and Short-Term Investments	20.31M	22.45M	24.06M	14.67M	31.64M	40.60M
Total Debt	2.33M	2.61M	2.31M	2.80M	3.31M	3.81M
Total Liabilities	79.68M	47.65M	22.41M	13.86M	11.59M	11.91M
Stockholders Equity	-9.27M	4.86M	47.18M	41.98M	54.88M	67.21M
Cash Flow
Free Cash Flow	-5.23M	-2.43M	-9.89M	-14.97M	-9.32M	-14.16M
Operating Cash Flow	-5.13M	-2.27M	-9.66M	-14.86M	-8.97M	-13.79M
Investing Cash Flow	-5.87M	-2.16M	-4.16M	-115.00K	-354.00K	-326.00K
Financing Cash Flow	9.86M	78.00K	19.76M	-1.99M	361.00K	50.00M

LENSAR Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LNSR, the sentiment is Negative. The current price of 12.17 is below the 20-day moving average (MA) of 12.52, below the 50-day MA of 12.82, and above the 200-day MA of 11.84, indicating a neutral trend. The MACD of -0.20 indicates Positive momentum. The RSI at 40.59 is Neutral, neither overbought nor oversold. The STOCH value of 38.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LNSR.

LENSAR Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ELMD	70 Outperform	$207.98M	29.39	17.18%	―	16.97%	48.56%
CVRX	52 Neutral	$201.37M	―	-92.33%	―	23.11%	18.06%
Sector *	51 Neutral	$7.91B	-0.36	-41.71%	2.23%	23.45%	-1.86%
LNSR	47 Neutral	$145.25M	―	-350.22%	―	29.34%	-283.53%
SGHT	47 Neutral	$195.33M	―	-57.10%	―	-3.89%	9.68%
CTSO	46 Neutral	$61.22M	―	-68.84%	―	-7.81%	65.39%
MYO	44 Neutral	$38.18M	―	-68.32%	―	93.07%	13.25%

LENSAR Corporate Events

LENSAR Stockholders Approve Merger with Alcon Research

On July 2, 2025, LENSAR, Inc. held a virtual special meeting where stockholders voted on proposals related to a merger agreement with Alcon Research, LLC. The merger proposal, along with a compensation proposal for executives related to the merger, was approved by the requisite vote. The adjournment proposal was deemed unnecessary as there was a quorum present and sufficient proxies to approve the merger proposal.