Sign in

LNSR on Nasdaq

LENSAR, Inc.

In its 2026 annual report the company says: “We are a commercial-stage medical device company focused on designing, developing and marketing advanced laser systems for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism.”3 It is headquartered in Orlando, Florida.1 Its shares trade on Nasdaq under the symbol LNSR.1

Price unavailable

Last updated Oct 21, 2026.

Overview

Compare with CARLSMED, INC., Apyx Medical Corp or SHOULDER INNOVATIONS, INC., or pick any stock.

  • TickerLNSR on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersOrlando, Florida1
  • Incorporated inDE2
  • Business address2800 Discovery Drive, Suite 100, Orlando, Fl 328262
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

See how the biggest companies compare on our leaderboards

We are a commercial-stage medical device company focused on designing, developing and marketing advanced laser systems for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. Our current systems, the LENSAR Laser System, or LLS, and ALLY Robotic Cataract Laser System ® , or ALLY System, or collectively, the Systems, incorporate a range of proprietary technologies designed to assist the surgeon in obtaining better visual outcomes, efficiency and reproducibility by providing advanced imaging, simplified procedure planning, efficient design and precision. We believe the cumulative effect of these technologies results in laser systems that can be quickly and efficiently integrated into a surgeon’s existing practice, is easy to use and provides surgeons the ability to deliver improved visual outcomes with enhanced precision and the ability …3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-47.6%Operating margin4
-66.4%Net margin4
12.4%Revenue growth, 20254
-$14.9MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 89% of the revenue LENSAR, Inc. broke down this way in fiscal 2025.

  1. Product$45.9M489%up 12% from 2024
  2. Service$5.7M411%up 17% from 2024
Products and services by year
Products and services20242025
Product$41.1M$45.9M
Service$4.9M$5.7M

Regions

United States brought in 66% of the revenue LENSAR, Inc. broke down this way in fiscal 2025.

  1. United States$34.3M466%up 19% from 2024
  2. Europe$8.4M416%down 17% from 2024
  3. Asia Excluding South Korea$8.0M416%up 46% from 2024
  4. South Korea$658.0K41%down 22% from 2024
  5. Other Geographical Region$238.0K40%down 58% from 2024
Regions by year
Regions20242025
United States$28.9M$34.3M
Europe$10.2M$8.4M
Asia Excluding South Korea$5.5M$8.0M
South Korea$848.0K$658.0K
Other Geographical Region$563.0K$238.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue38¢$31.3M
  • Research and development7¢$5.6M
  • Selling, general and admin55¢$45.2M

Out of $51.7M in revenue.4 The company lost money this year.

Financial statements

Revenue567894$51.7M in 2025+96% since 2019
0$20.0M$40.0M$60.0M2019: $26.3M$26.3M20192020: $22.8M$22.8M2020−14%2021: $29.5M$29.5M2021+29%2022: $29.4M$29.4M2022−0%2023: $35.7M$35.7M2023+21%2024: $46.0M$46.0M2024+29%2025: $51.7M$51.7M2025+12%
Operating income567894-$24.6M in 2025+93% since 2019
-$30.0M-$20.0M-$10.0M02019: -$12.7M-$12.7M20192020: -$18.5M-$18.5M2020+46%2021: -$19.7M-$19.7M2021+6%2022: -$20.2M-$20.2M2022+3%2023: -$12.2M-$12.2M2023−39%2024: -$10.7M-$10.7M2024−13%2025: -$24.6M-$24.6M2025+130%
Net income567894-$34.3M in 2025+134% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$14.7M-$14.7M20192020: -$19.8M-$19.8M2020+35%2021: -$19.6M-$19.6M2021−1%2022: -$19.9M-$19.9M2022+2%2023: -$14.4M-$14.4M2023−28%2024: -$31.4M-$31.4M2024+118%2025: -$34.3M-$34.3M2025+9%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Product and service revenue$51.7M$46.0M
Lease$6.8M$7.5M
Total revenue$58.4M$53.5M
Total cost of revenue$31.3M$27.6M
Selling, general and administrative expenses$45.2M$26.5M
Research and development expenses$5.6M$5.3M
Amortization of intangible assets$921.0K$970.0K
Impairment of intangible assets$0$3.7M
Total operating expenses$51.7M$36.5M
Operating loss-$24.6M-$10.7M
Change in fair value of warrant liabilities-$10.3M-$21.4M
Other income, net$636.0K$660.0K
Net loss-$34.3M-$31.4M
Change in unrealized gain on investments-$2.0K$2.0K
Net loss and comprehensive loss-$34.3M-$31.4M
Basic-$2.87-$2.73
Diluted-$2.87-$2.73
Basic12.0M shares11.5M shares
Diluted12.0M shares11.5M shares

Compare LENSAR, Inc. with another company

Corporate structure

LENSAR, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LENSAR, Inc.

  • LENSAR, Inc. Orlando, Florida

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What LENSAR, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.7M4 Dec 31, 2025$2.8M4 Dec 31, 2024−0.7%
Accumulated depreciation$2.2M4 Dec 31, 2025$2.4M4 Dec 31, 2024−6.4%
Property and equipment, net$505.0K4 Dec 31, 2025$664.0K4 Dec 31, 2024−23.9%
Operating-lease assets (leased space)$2.6M4 Dec 31, 2025$2.5M4 Dec 31, 2024+3.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$13.0M4 Dec 31, 2025$16.3M4 Dec 31, 2024−20.2%
Marketable securities, current$5.0M4 Dec 31, 2025$6.2M4 Dec 31, 2024−19.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$14.1M4 Dec 31, 2025$18.8M4 Dec 31, 2024−25.1%
Accumulated amortization$8.9M4 Dec 31, 2025$8.7M4 Dec 31, 2024+1.9%
Finite-lived intangibles, net$5.2M4 Dec 31, 2025$6.1M4 Dec 31, 2024−15.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$21.5M4 Dec 31, 2025$11.4M4 Dec 31, 2024+88.3%
Raw materials$12.7M4 Dec 31, 2025$7.2M4 Dec 31, 2024+77.0%
Work in process$4.2M4 Dec 31, 2025$1.3M4 Dec 31, 2024+221.4%
Finished goods$4.6M4 Dec 31, 2025$2.9M4 Dec 31, 2024+57.4%

Properties, in its own words

We currently occupy approximately 45,000 square feet of office and manufacturing space at our corporate headquarters in Orlando, Florida under a lease that expires in May 2029.

Item 2 of the 10-K filed Mar 31, 2026.3

Leadership

Who has led LENSAR, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Nicholas T. Curtis2020–now

Chief financial officer

  1. Thomas R. Staab Ii.2020–2026
  2. Michael A. Rossi2026–now

Chief operating officer

  1. Alan B. Connaughton2020–now
2025
Board members and other officers (9)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorJohn P. McLaughlin named May 26, 202324

Former names

  • LensAR IncJun 29, 2007 to Jan 14, 20152
  • LaserSoft Vision IncMar 8, 2005 to Jun 16, 20062

Timeline

  1. Aug 13, 20268-K Results of operations25
  2. Aug 10, 20268-K Shareholder vote26
  3. May 29, 20268-K Executive or director change; Director nominations; Other events27
  4. May 8, 20268-K Results of operations28
  5. Apr 15, 20268-K Executive or director change29
  6. Mar 31, 20268-K Results of operations30
  7. Mar 17, 20268-K Entered a material agreement; Ended a material agreement; Regulation FD disclosure31
  8. Mar 13, 20268-K Other events32
  9. Mar 12, 20268-K Other events33
  10. Feb 25, 20268-K Regulation FD disclosure34
  11. Dec 19, 20258-K Shareholder vote35
  12. Nov 6, 20258-K Results of operations36
  13. Sep 17, 2020New chief executive Nicholas T. Curtis becomes CEO12

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/202637

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results25
  2. May 8, 2026Reported quarterly or annual results28
  3. Mar 31, 2026Reported quarterly or annual results30
  4. Nov 6, 2025Reported quarterly or annual results36
  5. Aug 7, 2025Reported quarterly or annual results38
  6. May 8, 2025Reported quarterly or annual results39
  7. Feb 27, 2025Reported quarterly or annual results40
  8. Nov 7, 2024Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

224 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 51 major events, 86 insider forms, 24 large holders, 1 private raises, 40 other. The latest 20:

  1. Aug 13, 202610-Q EDGAR
  2. Aug 13, 20268-K EDGAR
  3. Aug 10, 20268-K EDGAR
  4. Jul 29, 2026SCHEDULE 13G/A EDGAR
  5. Jun 23, 2026DEFA14A EDGAR
  6. Jun 23, 2026ARS EDGAR
  7. Jun 23, 2026DEF 14A EDGAR
  8. Jun 5, 20264 EDGAR
  9. Jun 5, 20264 EDGAR
  10. Jun 5, 20264 EDGAR
  11. Jun 5, 20264 EDGAR
  12. Jun 5, 20264 EDGAR
  13. Jun 5, 20264 EDGAR
  14. Jun 5, 20264 EDGAR
  15. Jun 5, 20264 EDGAR
  16. Jun 5, 20264 EDGAR
  17. Jun 5, 20264 EDGAR
  18. Jun 5, 20263 EDGAR
  19. Jun 2, 2026S-8 EDGAR
  20. May 29, 20268-K EDGAR

The 224 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

28 open-market trades by officers, directors and large owners since October 2021: 28 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 3, 2024Winer Gary MDirectorBuy685$4.50$3.1KForm 4
Aug 28, 2024Winer Gary MDirectorBuy1,000$4.45$4.5KForm 4
Aug 27, 2024Winer Gary MDirectorBuy500$4.50$2.2KForm 4
Aug 26, 2024Winer Gary MDirectorBuy802$4.58$3.7KForm 4
Aug 22, 2024Winer Gary MDirectorBuy2$4.30$9Form 4
Aug 21, 2024Winer Gary MDirectorBuy500$4.35$2.2KForm 4
Aug 20, 2024Winer Gary MDirectorBuy500$4.20$2.1KForm 4
Aug 16, 2024Winer Gary MDirectorBuy6$4.03$24Form 4
Aug 14, 2024Winer Gary MDirectorBuy1,000$4.20$4.2KForm 4
Aug 12, 2024Winer Gary MDirectorBuy500$4.03$2.0KForm 4
Nov 22, 2023Winer Gary MDirectorBuy300$2.10$630Form 4
Nov 16, 2023Winer Gary MDirectorBuy1,000$2.13$2.1KForm 4
Nov 15, 2023Winer Gary MDirectorBuy500$2.15$1.1KForm 4
Nov 10, 2023Winer Gary MDirectorBuy1,000$2.14$2.1KForm 4
Aug 11, 2023Winer Gary MDirectorBuy705$3.60$2.5KForm 4
Aug 10, 2023Winer Gary MDirectorBuy1,000$3.66$3.7KForm 4
May 22, 2023WEISNER AIMEE SDirectorBuy16,647$2.75$45.8KForm 4
May 19, 2023WEISNER AIMEE SDirectorBuy22,153$2.59$57.4KForm 4
May 18, 2023WEISNER AIMEE SDirectorBuy7,700$2.61$20.1KForm 4
May 17, 2023WEISNER AIMEE SDirectorBuy3,500$2.29$8.0KForm 4

All 28 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Nicholas T. Curtis$582.8K$2.3M50
2025Alan B. Connaughton$437.1K$1.1M50
2025Thomas R. StaabII$412.9K$782.0K50
2024Chief Executive Officer$562.0K$1.6M50
2024Chief Operating Officer$421.5K$1.0M50
2024Former Chief Financial Officer$398.2K$809.7K50

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 12, 2023Raised $20 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 76. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Brandes Investment Partners, LP1,075,400$6.1M0.0%+50,224
Vanguard Capital Management LLC402,806$2.3M0.0%+12,716
Groupe la Francaise213,537$1.2M0.0%No change
RBF Capital, LLC188,661$1.1M0.0%+143,134
BlackRock, Inc.185,033$1.1M0.0%−443,715
Css Llc/il163,450$933.3K0.1%No change
Dimensional Fund Advisors LP151,609$865.7K0.0%−73,325
Credit Industriel Et Commercial144,359$824.3K0.1%No change
Kerrisdale Advisers, LLC139,390$795.9K0.2%No change
Millennium Management LLC120,680$689.1K0.0%+108,115
DCF Advisers, LLC118,217$675.0K0.2%No change
Evernest Financial Advisors, LLC118,100$674.4K0.1%+52,100
Geode Capital Management, LLC114,331$653.2K0.0%−115,409
UBS Group AG85,634$489.0K0.0%+2,362
Yakira Capital Management, Inc.83,288$475.6K0.1%No change
State Street Corp80,983$462.4K0.0%−54,757
Man Group plc77,962$445.2K0.0%+2,906
Deltec Asset Management LLC65,000$371.1K0.1%No change
Alpine Global Management, LLC59,569$340.1K0.1%−15,431
Goldman Sachs Group Inc59,529$339.9K0.0%−47,366
Gabelli Funds LLC59,000$336.9K0.0%No change
Vanguard Fiduciary Trust Co57,831$330.2K0.0%−7,829
Dynamic Technology Lab Private Ltd54,166$309.0K0.1%No change
Essex Investment Management Co LLC53,258$304.1K0.0%+23,224
Centiva Capital, LP49,252$281.2K0.0%+3,052

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How LENSAR, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLENSAR, Inc.1
  • CIK0001320350
  • Employer ID (EIN)32-01257243
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address2800 Discovery Drive, Suite 100, Orlando, FL 328261
  • Phone888-536-72711
  • Shares outstanding12,285,865 as of Jul 31, 202611
  • Public float$113.3M as of Jun 30, 20253
  • AuditorPricewaterhouseCoopers LLP, Raleigh, North Carolina PCAOB ID 238; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMar 8, 20051
  • Filings327 in all: 4 (106), 8-K (58), 10-Q (18), SC 13G/A (16), 3 (13), D (12), DEFA14A (11), CORRESP (7)1
    All 43 form types

    DEF 14A (7), REGDEX (7), SC 13G (7), 10-K (6), S-8 (6), SCHEDULE 13G/A (6), UPLOAD (5), ARS (4), D/A (3), 10-K/A (2), 10-Q/A (2), 424B5 (2), 8-K/A (2), EFFECT (2), PX14A6G (2), S-3 (2), SCHEDULE 13G (2), SEC STAFF LETTER (2), 10-12B (1), 10-12B/A (1), 144 (1), 424B3 (1), CERT (1), DEFM14A (1), DFAN14A (1), DRS (1), DRS/A (1), DRSLTR (1), PRE 14A (1), PREM14A (1), REGDEX/A (1), S-3/A (1), SC 13D (1), SCHEDULE 13D/A (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Jun 23, 2026
    Latest 8-K (8-K) Aug 13, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareLNSRThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks LENSAR, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 66 risks under these headings, as written.3

  • Risks Related to the Terminated Merger Agreement
  • The announcement of the termination of the Merger Agreement could negatively impact our business, financial condition, results of operations or our stock price.
  • We may experience shareholder litigation related to the termination of the Merger Agreement, which could result in payment of damages.
  • Our results have been in the past, and could be in the future, adversely affected by economic uncertainty or deteriorations in economic conditions.
  • We have experienced and expect to incur operating losses for the near-term future and we cannot assure you that we will be able to generate sufficient revenue to achieve or sustain profitability.
  • We have historically derived our revenue from the sale or lease of our Systems as well as the associated procedure licenses and sale of consumables used in each procedure involving our Systems. The commercial success of our ALLY System will depend upon receipt of additional regulatory clearances or certifications and our ability to maintain and grow significant market acceptance for it.
  • Our growth depends on our ability to gain regulatory clearances and certifications, as well as our ability to meet production goals for our ALLY System.
  • Patients may not be willing to pay for the price difference between a standard cataract procedure and an advanced cataract procedure in which a laser system such as ours is used, an increment which is typically not covered by Medicare, private insurance or other third-party payors.
  • If we are not able to effectively grow our U.S. sales and marketing organization or maintain or grow an effective network of international distributors, our business prospects, results of operations and financial condition could be adversely affected.
  • Our future capital needs are uncertain, and we may need to raise additional funds in the future, and such funds may not be available on acceptable terms or at all.
  • If the supply or manufacture of our Systems or other products associated with the Systems is materially disrupted, including by supply chain shortages and price increases, it may adversely affect our ability to manufacture products and could negatively affect our operating results.
  • We currently compete, and expect to compete in the future, against other companies, some of which have longer operating histories, more established products or greater resources than we do.
The other 55 risks
  • To successfully market, sell and lease our products in markets outside of the United States, we must address many international business risks with which we have limited experience.
  • We are exposed to the credit risk of some of our customers, which could result in material losses.
  • We may be unable to accurately forecast customer demand and our inventory levels.
  • Failure to secure adequate coverage or reimbursement by government or other third-party payors for certain procedures using our ALLY System or our other future products, or changes in current coverage or reimbursement, could materially impact our revenue and future growth.
  • We provide a limited warranty for our products.
  • Product liability suits brought against us could cause us to incur substantial liabilities, limit the selling or leasing of our existing products and interfere with commercialization of any products that we may develop.
  • Our insurance policies are expensive and protect us only from some business risks, which leaves us exposed to significant uninsured liabilities.
  • Our financial results may fluctuate significantly and may not fully reflect the underlying performance of our business.
  • If we fail to manage our anticipated growth effectively, or are unable to increase or maintain our manufacturing capacity, we may not be able to meet customer demand for our products and our business could suffer.
  • If we choose to acquire new and complementary businesses, products or technologies, we may be unable to complete these acquisitions or to successfully integrate them in a cost-effective and non-disruptive manner.
  • Our future growth depends on our ability to retain members of our senior management and other key employees. If we are unable to retain or recruit qualified personnel for growth, our business results could suffer.
  • We rely significantly on the use of information technology. Cybersecurity risks – any technology failures causing a material disruption to operational technology or cyber-attacks on our systems affecting our ability to protect the integrity and security of confidential customer and employee information – could harm our reputation and/or could disrupt our operations and negatively impact our business.
  • The actual or perceived failure to comply with data privacy and security laws and other obligations could have a material adverse effect on our business, results of operations and financial condition.
  • Performance issues, service interruptions or price increases by our shipping carriers could adversely affect our business and harm our reputation and ability to provide our products on a timely basis.
  • Intangible assets on our books may lead to significant impairment charges.
  • Our products and operations are subject to extensive government regulation and oversight both in the United States and abroad, and our failure to comply with applicable requirements could harm our business.
  • We may not receive, or may be delayed in receiving, the necessary clearances, certifications or approvals for our future products, or modifications to our current products, and failure to timely obtain additional clearances, certifications or approvals for our ALLY System and future products or modifications to our current products would adversely affect our ability to grow our business.
  • Failure to comply with post-marketing regulatory requirements could subject us to enforcement actions, including substantial penalties, and might require us to recall or withdraw a product from the market.
  • Our products must be manufactured in accordance with federal, state and foreign regulations, and we or any of our suppliers could be forced to recall products or terminate production if we fail to comply with these regulations.
  • The misuse or off-label use of our LLS or ALLY System may harm our reputation in the marketplace, result in injuries that lead to product liability suits or result in costly investigations, fines or sanctions by regulatory bodies if we are deemed to have engaged in the promotion of these uses, any of which could be costly to our business.
  • Our products may cause or contribute to adverse medical events or be subject to failures or malfunctions that we are required to report to the FDA (or similar foreign authorities), and if we fail to do so, we would be subject to sanctions that could harm our reputation, business, financial condition and results of operations. The discovery of serious safety issues with our products, or a recall of our products either voluntarily or at the direction of the FDA or another governmental authority, could have a negative impact on us.
  • If we do not obtain and maintain international regulatory registrations, clearances, certifications or approvals for our products, we will be unable to market and sell our products outside of the United States.
  • The clinical trial process is lengthy and expensive with uncertain outcomes. Results of earlier studies may not be predictive of future clinical trial results, or the safety or efficacy profile for such products.
  • Legislative or regulatory reforms in the United States or the EU may make it more difficult and costly for us to obtain regulatory clearances, certifications or approvals for our products or to manufacture, market or distribute our products after clearance, certification or approval is obtained.
  • Disruptions at the FDA and other government agencies and notified bodies caused by funding shortages, staffing limitations, or global health concerns could hinder their ability to hire, retain or deploy key leadership and other personnel, or otherwise prevent new or modified products from being developed, cleared or approved or commercialized in a timely manner or at all, which could negatively impact our business.
  • Enacted and future healthcare legislation may increase the difficulty and cost for us to commercialize our ALLY System or other products we may develop in the future and may affect the prices we may set.
  • We may be subject to certain federal, state and foreign laws pertaining to healthcare fraud and abuse, including anti-kickback, self-referral, false claims and fraud laws, and any violations by us of such laws could result in fines or other penalties.
  • We are subject to anti-corruption, anti-bribery and similar laws and any violations by us of such laws could result in fines or other penalties.
  • Our employees, independent contractors, principal investigators, consultants, vendors, distributors and contract research organizations may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • Our success will depend on our ability to obtain, maintain, and protect our intellectual property rights.
  • Obtaining and maintaining patent protection depends on compliance with various procedural, document submission, fee payment, and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Changes in patent law could diminish the value of patents in general, thereby impairing our ability to protect our existing and future products.
  • If we cannot license and maintain rights to use third-party technology on reasonable terms, we may not be able to successfully commercialize our products. Our licensed or acquired technology may lose value or utility or over time.
  • We may become a party to intellectual property litigation or administrative proceedings that could be costly and could interfere with our ability to sell and market our products.
  • If we are unable to protect the confidentiality of our other proprietary information, our business and competitive position may be harmed.
  • We may not be able to protect our intellectual property rights throughout the world.
  • We may be subject to claims that we or our employees have misappropriated the intellectual property of a third party, including trade secrets or know-how, or are in breach of non-competition or non-solicitation agreements with our competitors.
  • The failure of third parties to meet their contractual, regulatory, and other obligations could adversely affect our business.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets and our business may be adversely affected.
  • We use artificial intelligence technologies in our business, and the deployment, use, and maintenance of these technologies involve significant technological and legal risks.
  • We may not be able to obtain sufficient intellectual property protection for our AI Technologies to prevent competitors from implementing the same or similar technology in their businesses, and other individuals may apply for or obtain intellectual property protection which could limit our ability to use technology that we are currently developing.
  • The regulatory framework governing the use of AI Technologies is rapidly evolving, and we cannot predict how future legislation and regulation will impact our ability to offer products or services that we develop which leverage AI Technologies.
  • The large number of shares eligible for public sale could depress the market price of our common stock.
  • We are a “smaller reporting company” and we cannot be certain if the reduced disclosure requirements applicable to us will make our common stock less attractive to investors.
  • We have issued shares of redeemable convertible preferred stock, and may in the future issue additional shares of preferred stock, with terms that could dilute the voting power or reduce the value of our common stock.
  • North Run and its affiliates’ ownership may limit or preclude other stockholders’ ability to influence corporate matters.
  • We do not anticipate paying cash dividends, and accordingly, stockholders must rely on stock appreciation for any return on their investment.
  • Certain provisions in our charter documents and Delaware law could discourage takeover attempts and lead to management entrenchment and, therefore, may depress the trading price of our common stock.
  • Our amended and restated certificate of incorporation designates certain courts as the sole and exclusive forums for certain litigation that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us.
  • An active, liquid and orderly market for our common stock may not be sustained, and the trading price of our common stock is likely to be volatile.
  • General Risk Factors
  • We are obligated to develop and maintain proper and effective internal control over financial reporting and will be subject to other requirements that will be burdensome and costly.
  • Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
  • If securities or industry analysts do not continue to publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
  • Scrutiny and stakeholder expectations regarding environmental, social, and governance matters may cause us to incur expenses and liabilities or otherwise adversely impact our business, financial condition, or operations.
  • Our ability to use our net operating loss carryforwards to offset future taxable income may be subject to certain limitations.

Legal proceedings

From time to time, we may become involved in various legal proceedings relating to matters incidental to the Merger and terminated Merger Agreement and in the ordinary course of our business, including intellectual property, commercial, product liability, employment, class action, whistleblower and other litigation and claims, and governmental and other regulatory investigations and proceedings.

Because litigation is inherently unpredictable, we cannot assure you that the results of any such actions will not have a material adverse effect on our business, results of operations, financial condition or cash flows.

For a description of our legal proceedings, refer to Note 11, Commitments and contingencies, to our consolidated financial statements included elsewhere in this Annual Report, which is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
    SEC EDGAROther events
  33. 33
    SEC EDGAROther events
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50