By Katherine Hamilton

Shares of Lensar were on track to close at an all-time high after it said revenue is likely to keep growing in 2025.

The stock rose 27%, to $12.05, on Thursday, at one point touching a record high of $12.63. Shares have more than doubled over the past year.

The maker of robotic lasers used to treat cataracts said fourth-quarter revenue increased 38%, to $16.7 million. Analysts polled by FactSet expected $14.9 million.

Lensar said it expects more revenue growth in 2025 due to sustained strong demand for its Ally product, many new customers and regulatory clearances in Europe and Taiwan during 2024. It said revenue in the first quarter is likely to grow around 27%, in line with full-year 2024 acceleration, and anticipates it will increase further during the rest of the year.

Fourth-quarter revenue was driven by more placements of Lensar's Ally cataract-surgery product. The company distributed 31 Ally systems in the quarter, for a total of 80 placements in 2024. New users accounted for about 75% of full-year placements.

The number of procedures globally rose 24%, to nearly 170,000, during the quarter.

Lensar posted a loss of $18.7 million, or $1.61 a share, for the quarter ended Dec. 31, compared with a loss of $3.9 million, or 35 cents a share, the prior year. The wider loss was mostly due to a change in warrant liability related to a large appreciation of Lensar's stock price, the company said.

In 2020, Lensar was spun off by PDL BioPharma, which delisted from public trading at that time.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

February 27, 2025 14:26 ET (19:26 GMT)

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