LENSAR, Inc. · Surgical & Medical Instruments & Apparatus

LNSR

Elevated riskNext report: Around Nov 5 (est.)

View price ↗

The short version

A company still losing money with growing sales, with high risk. Institutions are trimming.

Going well

Sales up 18% in the latest quarter vs a year ago

Watch out for

About 10 months of cash left at its current burn
Owes more than it owns (negative equity)
Losing money, losses are large next to sales

Money moves

No insider buying or selling in the last 30 days
Institutions cut 14% from their holdings in the quarter ending June 2026 (36 bought, 48 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$6.01-1.0% that day

Company value: $74M; Share price times all shares
Price vs sales: 1.2x; No profit over the last year, so this compares value with sales instead
Cash vs value: 18%; Cash as a share of company value

From LNSR's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$16.5M+18% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $60.3M, up 3.3% from the 12 months before. Over 5 years, sales grew about 17% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of LNSR. Starting points are the company's recent numbers.

Sales growth+3% a yearRecently: +3.3% a yearProfit margin50%Last 12 months: 57.6%P/E at the end15xMany steady companies trade at 12x to 25xShare count change+6% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$70M

Profit in 5 years$35M

Price these guesses point to$31.87+430% vs $6.01 todayAbout +40% a year, before dividends

What today's price needs: with a 50% margin and a 15x P/E, sales could shrink about 26% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

0/5Weak

MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-58.7%
MissProfitable every yearSteady profits, not one good year.0 of 7 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$14.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+17.7% in 3 years

Revenue: $58.4M; +9.2% vs prior year
5-year growth: +17.2%/yr; revenue, per year
Current ratio: 1.15x; short-term assets / bills due
Free cash flow: -$14.9M; -25.5% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 13

Revenue: $16.5M; +18.4% YoY
EPS: $0.10; vs -$0.15
Op. margin: 12.9%; +58.0 pts
Gross margin: 59.3%; +8.9 pts
Free cash flow: -$127K
Share count: +92.9%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 0.3
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Distributing-14.4%

Institutions cut 14.4% from their holdings. 36 bought, 48 sold.

Shares held by institutions4.4M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+3.0%

Cash runwayAt last year's cash burn

11 months

Debt to equityLatest balance sheet: debt compared with what owners have

Owes more than it owns

Shares outstandingLatest reported

12M

Why elevated risk

Losing money, losses are large next to sales
About 11 months of cash left at its current burn

Earnings reports

Last 12

Next reportAround Nov 5 (est.)Estimated from the same quarter last year

Results filedAug 13
Results filedMay 8
Results filedMar 31
Results filedNov 6, 2025
Results filedAug 7, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Earnings resultsAug 13 · Form 8-K ↗Quarterly reportAug 13 · Form 10-Q ↗Shareholder vote resultsAug 10 · Form 8-K ↗5%+ holder update (passive)Jul 29 · Form SCHEDULE 13G/A ↗Proxy statementJun 23 · Form DEF 14A ↗ARSJun 23 · Form ARS ↗DEFA14AJun 23 · Form DEFA14A ↗New insiderJun 5 · Form 3 ↗

Stock awardWilliam J Phd LinkDirector

17,421 shares

+3% of holdings
Now owns 568,062 shares
Filed 2 days after trade

Jun 3Form 4 ↗

Stock awardRichard L Md LindstromDirector

17,421 shares

+7% of holdings
Now owns 263,831 shares
Filed 2 days after trade

Jun 3Form 4 ↗

Stock awardGary M WinerDirector

17,421 shares

+20% of holdings
Now owns 105,635 shares
Filed 2 days after trade

Jun 3Form 4 ↗

Stock awardElizabeth G. O'farrellDirector

17,421 shares

+35% of holdings
Now owns 67,368 shares
Filed 2 days after trade

Jun 3Form 4 ↗

Stock awardAimee S WeisnerDirector

17,421 shares

+19% of holdings
Now owns 110,368 shares
Filed 2 days after trade

Jun 3Form 4 ↗

Stock awardNicholas T CurtisChief Executive Officer, Director

130,662 shares

+13% of holdings
Now owns 1,122,758 shares
Filed 2 days after trade

Jun 3Form 4 ↗

Insider tradeJun 5 · Form 4 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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