LENSAR, Inc.

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

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.

Jun 30, 2025 · Filed Aug 7, 2025

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

	Six Months Ended
	June 30,
	2025	2024
Cash flows from operating activities
Net loss	$(29,109)	$(11,200)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,709	1,313
Amortization of intangible assets	462	506
Impairment of intangible assets	—	3,729
Non-cash operating lease cost	276	269
Provision for expected credit losses	(64)	14
Write-down of inventory	—	144
Loss on disposal of property and equipment	58	—
Stock-based compensation expense	1,420	1,335
Change in fair value of warrant liabilities	17,382	3,428
Amortization on investments, net	(98)	(120)
Changes in operating assets and liabilities:
Accounts receivable	1,193	(1,911)
Notes receivable	333	202
Prepaid and other current assets	625	514
Inventories	(10,763)	(5,755)
Accounts payable	5,319	103
Accrued liabilities	(1,081)	(1,326)
Deferred revenue	692	(25)
Operating lease liabilities	(283)	(277)
Other	(7)	(28)
Net cash used in operating activities	(11,936)	(9,085)
Cash flows from investing activities
Purchase of property and equipment	(83)	(133)
Purchase of investments	(11,878)	(6,115)
Investment maturities	5,000	3,000
Net cash used in investing activities	(6,961)	(3,248)
Cash flows from financing activities
Proceeds from acquisition-related deposit	10,000	—
Proceeds from issuance of common stock through option exercises	34	10
Proceeds from issuance of common stock under employee stock purchase plan	175	170
Net settlement of stock-based compensation awards	(425)	(83)
Payment of accrued offering costs allocable to preferred stock	—	(98)
Net cash provided by (used in) financing activities	9,784	(1)
Net decrease in cash and cash equivalents	(9,113)	(12,334)
Cash and cash equivalents at beginning of the period	16,263	20,621
Cash and cash equivalents at end of the period	$7,150	$8,287

CONDENSED STATEMENTS OF CASH FLOWS, continued

	Six Months EndedJune 30,
	2025	2024
Supplemental cash flow information
Cash paid for taxes	$—	$22
Supplemental schedule of non-cash investing and financing activities
Transfer from Inventories to Equipment under lease, net	$3,538	$3,367

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

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 as of 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 as of June 30, 2025	20	$13,784	11,933	$119	$149,236	$(172,404)	$(3)	$(23,052)

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

Accumulated
Series A · Other
Redeemable Convertible · Additional · Comprehensive · Total
Preferred Stock · Common Stock · Paid-in · Accumulated · Income · Stockholders’
	Shares	Amount	Shares	Amount	Capital	Deficit	(Loss)	Equity
Balance as of December 31, 2023	20	$13,747	11,327	$113	$145,203	$(111,891)	$4	$33,429
Exercise of stock options under the Incentive Plans	—	—	2	—	5	—	—	5
Issuance of common stock under the Incentive Plans, net of forfeitures	—	—	66	1	(90)	—	—	(89)
Stock-based compensation under the Incentive Plans	—	—	—	—	652	—	—	652
Net loss	—	—	—	—	—	(2,157)	—	(2,157)
Change in unrealized loss on investments	—	—	—	—	—	—	(5)	(5)
Balance as of March 31, 2024	20	13,747	11,395	114	145,770	(114,048)	(1)	31,835
Exercise of stock options under the Incentive Plans	—	—	2	—	5	—	—	5
Issuance of common stock under the Incentive Plans, net of forfeitures	—	—	67	1	(1)	—	—	—
Issuance of common stock under the 2020 ESPP	—	—	80	—	170	—	—	170
Stock-based compensation under the Incentive Plans	—	—	—	—	683	—	—	683
Series A Redeemable Convertible Preferred Stock offering costs accrual release	—	37	—	—	—	—	—	—
Net loss	—	—	—	—	—	(9,043)	—	(9,043)
Change in unrealized loss on investments	—	—	—	—	—	—	(5)	(5)
Balance as of June 30, 2024	20	$13,784	11,544	$115	$146,627	$(123,091)	$(6)	$23,645

ContentsView on SEC.gov

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