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Lensar (LNSR) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Lensar (LNSR) Q2 2026 earnings results →

Q2 2026 Revenue up 18% year over year to $16.5M · 21¢ of every $1 of revenue kept as net profit · operating margin 12.9%

Lensar made $16.5M in Q2 2026 (+18% Y/Y): Product $13.0M, Other revenues $1.8M, Service $1.7M. Operating margin 12.9%, net earnings $3.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.

Revenue$16.5M
Year over year+18%
Operating margin12.9%
Net earnings$3.5M
Operating cash flow−$127K

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $16.5M in Q2 2026, up 18% year over year and up 23% from the previous quarter. Product was the largest line at 79% of revenue. Product added $2.1M year over year (up 20%), 83% of the total change.

Operating profit was $2.1M, a 12.9% margin (up 58.1 points year over year). Total costs fell 29% while revenue rose 18%. Net earnings were $3.5M. The effective tax rate was 0.0%. Non-operating items added $1.4M, 40% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$127K. Non-cash charges added back $1.1M of depreciation and amortization and $347K of share-based compensation. Working capital and other items used $5.1M.

Quarterly history

Lensar revenue by quarterLensar revenue by quarter$16.7MQ4 2024$14.2MQ1 2025$13.9MQ2 2025$14.3MQ3 2025$16.0MQ4 2025$13.4MQ1 2026$16.5MQ2 2026
Lensar net earnings by quarterLensar net earnings by quarter−$18.7MQ4 2024−$27.3MQ1 2025−$1.8MQ2 2025−$3.7MQ3 2025−$1.5MQ4 2025$36.3MQ1 2026$3.5MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 13, 2026$16.5M+18%12.9%$3.5M−$127K
Q1 202610-QMay 8, 2026$13.4M-5%16.7%$36.3M−$4.3M
Q4 202510-KMar 31, 2026$16.0M-4%-30.7%−$1.5M$618K
Q3 202510-QNov 6, 2025$14.3M+6%-52.9%−$3.7M−$3.5M
Q2 202510-QAug 7, 2025$13.9M+10%-45.1%−$1.8M−$5.0M
Q1 202510-QMay 8, 2025$14.2M+34%-40.9%−$27.3M−$6.9M
Q4 202410-KFeb 27, 2025$16.7M+38%-7.7%−$18.7M$3.7M

Charts

Lensar: revenue growth, year over year and quarter over quarterLensar: revenue growth, year over year and quarter over quarterY/YQ/Q+38%Q4 2024+34%-15%Q1 2025+10%-2%Q2 2025+6%+3%Q3 2025-4%+12%Q4 2025-5%-16%Q1 2026+18%+23%Q2 2026
Latest (Q2 2026): Y/Y +18%, Q/Q +23%.
Lensar: where the cash came from (+) and went (−), TTM to Q2 2026Lensar: where the cash came from (+) and went (−), TTM to Q2 2026Other investing$13.2MOperating cash flow−$7.3MCash drawn (+) / kept (−)−$6.4MOther financing$384KShares issued$114KCapital spending−$35K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Lensar: profit against cash, quarter by quarterLensar: profit against cash, quarter by quarterNet incomeOperating cash flow−$1.5M$3.2MQ3 2024−$18.7M$3.7MQ4 2024−$27.3M−$6.9MQ1 2025−$1.8M−$5.0MQ2 2025−$3.7M−$3.5MQ3 2025−$1.5M$618KQ4 2025$36.3M−$4.3MQ1 2026$3.5M−$127KQ2 2026
Latest (Q2 2026): Net income $3.5M, Operating cash flow −$127K.
Lensar: diluted shares by fiscal year (split-adjusted)Lensar: diluted shares by fiscal year (split-adjusted)9MFY20209MFY202110MFY202211MFY202312MFY202412MFY2025
+29.4% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY2021.
Lensar in its industry: growth against margin (111 companies, SIC 3841)Lensar in its industry: growth against margin (111 companies, SIC 3841)revenue growth, year over year →↑ operating marginmedian +10%median -9%MDLNMMMSYKBSXBDXBAXSOLVRMDDXCMWSTMMEDPODDGMEDTFXICUIMMSIIARTPENHAETNDMEMBCIRTCATECGKOSOFIXINSPNVCRUFPTATRCBVSAORTPRCTTCMDARAYANGOKIDSSKINLMATHTFLMDXGCERSSIBNTMCISTIMINFUBBNXKMTSOSURANIKDCTHRCELSGHTIRMDXTNTLUNGNPCEPDEXTELACARLSIMOBIAPYXSSIICVRXCLPTKRMDTLSIPROFSNWVCTSOIDXGUTMDRVPSNOAPREMNEPHDRIOVVOSBTCYNXGLMDAIMDNCPMINONE.SRTSSINTIVFNMTCNSPRAURXXAIRLUCDTNONINBSRNXTVTAKUSAQICUVYCOHRGNCNSYPLSEPETVFEMYOSRHCODXOBIORDGLPAVMGUTSLNSR (+18%, 13%)
Surgical & Medical Instruments & Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Lensar

LENSAR is a commercial-stage medical device company focused on designing, developing, and marketing advanced systems for the treatment of cataracts and the management of astigmatism as an integral aspect of the procedure. LENSAR has developed its ALLY Robotic Cataract Laser System ® as a compact, highly ergonomic system utilizing an extremely fast dual-modality laser and proprietary imaging and software. ALLY is designed to transform premium cataract surgery by utilizing LENSAR’s advanced robotic technologies with the ability to perform the entire procedure in a sterile operating room or in-office surgical suite, delivering operational efficiencies and reduced overhead. ALLY includes LENSAR’s proprietary Streamline ® software technology, designed to guide surgeons to achieve better outcomes.

In its own words, from its 8-K, filed Aug 13, 2026.

Lensar against its Surgical & Medical Instruments & Apparatus peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +18% against the peers' median +5%. Operating margin: 12.9% against the peers' median 13.3%.

CompanyQuarterRevenueY/YOp. margin
LNSR LensarQ2 2026$16.5M+18%12.9%
MDLN MedlineQ3 2026$7.9B+10%6.4%
MMM 3MQ3 2026$6.6B+1%23.7%
SYK StrykerQ3 2026$6.5B+8%15.9%
BSX Boston ScientificQ3 2026$5.1B+1%16.1%
BDX Becton DickinsonQ3 FY26$5.0B+5%13.3%
BAX Baxter InternationalQ3 2026$3.0B+5%7.6%
SOLV SolventumQ3 2026$1.9B-7%3.5%
RMD ResMedQ1 FY27$1.4B+6%32.0%

Source: Lensar 10-Q on SEC EDGAR · CIK 1320350 · Surgical & Medical Instruments & Apparatus

13F: who owns LNSR and who is buying

Largest holders of LNSR (13F)Largest holders of LNSR (13F)Brandes Investment Partners, LP$6.1MVanguard Group$6.0MVanguard Capital Management LLC$2.3MGroupe la Francaise$1.2MRBF Capital, LLC$1.1MBlackRock$1.1MCSS LLC$933KDimensional Fund Advisors LP$866KCredit Industriel et Commercial$824KKerrisdale Advisers, LLC$796K
Funds' net buying of LNSR by quarter (13F)Funds' net buying of LNSR by quarter (13F)$306K2024-09−$1.9M2024-12$5.2M2025-03$6.6M2025-06$2.6M2025-09$227K2025-12$1.9M2026-03−$4.5M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LNSR

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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