LENSAR, Inc.

For the period ended Sep 30, 2026. Filed Nov 10, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 10, 2026

LNSR$4.62-15.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Statements of Cash Flows (Unaudited)

CONDENSED STATEMENTS OF CASH FLOWS

	Nine Months Ended
	September 30,
	2026	2025
Cash flows from operating activities
Net (loss) income	$35,144	$(32,822)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation	2,625	2,637
Amortization of intangible assets	684	691
Non-cash operating lease cost	557	356
Provision for expected credit losses	5	(59)
Write-down of inventory	36	—
Loss on disposal of property and equipment	—	58
Stock-based compensation expense	1,887	2,270
Change in fair value of warrant liabilities	(21,813)	13,648
Acquisition-related income	(10,000)	—
Amortization on investments, net	1	(163)
Changes in operating assets and liabilities:
Accounts receivable	1,233	272
Notes receivable	33	432
Prepaid and other current assets	(500)	839
Inventories	(5,095)	(13,966)
Accounts payable	(7,262)	8,799
Accrued liabilities	(1,326)	1,087
Deferred revenue	(511)	878
Operating lease liabilities	(548)	(366)
Other	(414)	(40)
Net cash used in operating activities	(5,264)	(15,449)
Cash flows from investing activities
Investment maturities	5,000	9,000
Purchase of investments	—	(11,878)
Purchase of property and equipment	(147)	(83)
Net cash provided by (used in) investing activities	4,853	(2,961)
Cash flows from financing activities
Proceeds from issuance of common stock through option exercises	90	34
Proceeds from issuance of common stock under employee stock purchase plan	259	175
Net settlement of stock-based compensation awards	(290)	(425)
Proceeds from acquisition-related deposit	—	10,000
Net cash provided by financing activities	59	9,784
Net decrease in cash and cash equivalents	(352)	(8,626)
Cash and cash equivalents at beginning of the period	12,974	16,263
Cash and cash equivalents at end of the period	$12,622	$7,637

CONDENSED STATEMENTS OF CASH FLOWS, continued

	Nine Months EndedSeptember 30,
	2026	2025
Supplemental cash flow information
Cash paid for taxes	$28	$42
Supplemental schedule of non-cash investing and financing activities
Transfer from Inventories to Equipment under lease, net	$1,437	$4,799

CONDENSED STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)

Series A · Accumulated · Total
Redeemable Convertible · Additional · Other · Stockholders’
Preferred Stock · Common Stock · Paid-in · Accumulated · Comprehensive · Equity
	Shares	Amount	Shares	Amount	Capital	Deficit	Income	(Deficit)
Balance as of December 31, 2025	20	$13,784	11,993	$120	$151,432	$(177,575)	$4	$(26,019)
Exercise of stock options under the Incentive Plans	—	—	6	—	15	—	—	15
Issuance of common stock under the Incentive Plans, net of forfeitures	—	—	102	1	(225)	—	—	(224)
Stock-based compensation under the Incentive Plans	—	—	—	—	690	—	—	690
Net income	—	—	—	—	—	36,332	—	36,332
Change in unrealized loss on investments	—	—	—	—	—	—	(4)	(4)
Balance as of March 31, 2026	20	13,784	12,101	121	151,912	(141,243)	—	10,790
Exercise of stock options under the Incentive Plans	—	—	15	—	40	—	—	40
Issuance of common stock under the Incentive Plans, net of forfeitures	—	—	114	1	(67)	—	—	(66)
Issuance of common stock under the 2020 ESPP	—	—	52	1	258	—	—	259
Stock-based compensation under the Incentive Plans	—	—	—	—	347	—	—	347
Net income	—	—	—	—	-	3,535	—	3,535
Balance as of June 30, 2026	20	13,784	12,282	123	152,490	(137,708)	—	14,905
Exercise of stock options under the Incentive Plans	—	—	9	—	35	—	—	35
Stock-based compensation under the Incentive Plans	—	—	—	—	850	—	—	850
Net income	—	—	—	—	—	(4,723)	—	(4,723)
Balance at September 30, 2026	20	$13,784	12,291	$123	$153,375	$(142,431)	$—	$11,067

CONDENSED STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT), continued

Accumulated
Series A · Other · Total
Redeemable Convertible · Additional · Comprehensive · Stockholders’
Preferred Stock · Common Stock · Paid-in · Accumulated · Income · Equity
	Shares	Amount	Shares	Amount	Capital	Deficit	(Loss)	(Deficit)
Balance as of December 31, 2024	20	$13,784	11,654	$116	$148,035	$(143,295)	$6	$4,862
Exercise of stock options under the Incentive Plans	—	—	5	—	21	—	—	21
Issuance of common stock under the Incentive Plans, net of forfeitures	—	—	131	2	(332)	—	—	(330)
Stock-based compensation under the Incentive Plans	—	—	—	—	654	—	—	654
Net loss	—	—	—	—	—	(27,345)	—	(27,345)
Change in unrealized loss on investments	—	—	—	—	—	—	(3)	(3)
Balance at March 31, 2025	20	13,784	11,790	118	148,378	(170,640)	3	(22,141)
Exercise of stock options under the Incentive Plans	—	—	2	—	13	—	—	13
Issuance of common stock under the Incentive Plans, net of forfeitures	—	—	113	1	(96)	—	—	(95)
Issuance of common stock under the 2020 ESPP	—	—	28	—	175	—	—	175
Stock-based compensation under the Incentive Plans	—	—	—	—	766	—	—	766
Net loss	—	—	—	—	—	(1,764)	—	(1,764)
Change in unrealized loss on investments	—	—	—	—	—	—	(6)	(6)
Balance at June 30, 2025	20	13,784	11,933	119	149,236	(172,404)	(3)	(23,052)
Issuance of common stock under the Incentive Plans, net of forfeitures	—	—	2	—	—	—	—	—
Stock-based compensation under the Incentive Plans	—	—	—	—	850	—	—	850
Net loss	—	—	—	—	—	(3,713)	—	(3,713)
Change in unrealized loss on investments	—	—	—	—	—	—	8	8
Balance at September 30, 2025	20	$13,784	11,935	$119	$150,086	$(176,117)	$5	$(25,907)

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.