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Revenue From Contracts With Customers - Summary of Product and Service Revenue Disaggregated by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Product and service revenue	$ 6,623	$ 7,941
United States
Disaggregation Of Revenue [Line Items]
Product and service revenue	4,264	3,970
South Korea
Disaggregation Of Revenue [Line Items]
Product and service revenue	9	1,434
Europe
Disaggregation Of Revenue [Line Items]
Product and service revenue	1,538	1,619
Asia (Excluding South Korea)
Disaggregation Of Revenue [Line Items]
Product and service revenue	708	780
Other
Disaggregation Of Revenue [Line Items]
Product and service revenue	$ 104	$ 138

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (4,272)	$ (6,674)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	578	541
Amortization of intangible assets	276	309
Non-cash operating lease cost	133	130
Provision for expected credit losses	(6)	134
Stock-based compensation expense	1,726	1,607
Changes in operating assets and liabilities:
Accounts receivable	1,393	1,037
Prepaid and other current assets	(427)	192
Inventories	(4,381)	1,116
Accounts payable	(499)	158
Accrued liabilities	(1,197)	(1,198)
Other	(20)	41
Net cash used in operating activities	(6,696)	(2,607)
Cash flows from investing activities
Purchase of property and equipment	(8)	(46)
Net cash used in investing activities	(8)	(46)
Net decrease in cash and cash equivalents	(6,704)	(2,653)
Cash and cash equivalents at beginning of the period	14,674	31,637
Cash and cash equivalents at end of the period	7,970	28,984
Supplemental cash flow information
Cash paid for interest	1
Supplemental schedule of non-cash investing and financing activities
Transfer from Inventories to Equipment under lease, net	881	1,060
Transfer from (to) Inventories to (from) Property and equipment, net	$ (428)	$ 34

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accrued Liabilities Current [Abstract]
Compensation	$ 2,096	$ 3,348
Professional services	431	437
Customer advances	176	171
Warranty	85	120
Other	705	624
Total	$ 3,493	$ 4,700

Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Schedule of Lease Revenue

Lease revenue for the three months ended March 31, 2023 and 2022 was as follows:


	Three Months Ended March 31,
	2023		2022
Lease revenue	$	1,629	$	1,399

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets Disclosure [Abstract]

Components of Intangible Assets

The components of intangible assets were as follows:


	As of March 31, 2023							As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-lived intangible assets:
Customer relationships 1,2	$	4,292	$	(2,113	)	$	2,179	$	4,292	$	(2,028	)	$	2,264
Acquired technology 1,3,4		13,900		(4,234	)		9,666		13,900		(4,042	)		9,858
Acquired trademarks 1		570		(570	)		—		570		(570	)		—
	$	18,762	$	(6,917	)	$	11,845	$	18,762	$	(6,640	)	$	12,122

Certain intangible assets were established upon PDL BioPharma, Inc.’s acquisition of LENSAR in May 2017. They are being amortized on a straight-line basis over a period of 15 years. The intangible assets for customer relationships are amortized on a straight-line basis or a double declining basis over their estimated useful lives up to 20 years based on the method that better represents the economic benefits to be obtained.

LENSAR acquired certain intangible assets for customer relationships from a domestic distributor in an asset acquisition, which are being amortized on a straight-line basis over a period of 10 years.

LENSAR acquired certain intangible assets from a medical technology company in an asset acquisition, which are being amortized on a straight-line basis over a period of 15 years.

In 2019, LENSAR acquired certain intellectual property from a third party. Pursuant to the Company's agreement with the third party, the Company made milestone payments of $2,400 during the year ended December 31, 2022. The intangible assets will be amortized on a straight-line basis over a period of 15 years.

Schedule of Impairment of Underlying Assets, Remaining Amortization Expense

Based on the intangible assets recorded at March 31, 2023, and assuming no subsequent additions to or impairment of the underlying assets, the remaining amortization expense is expected to be as follows:


Fiscal Year	Amount
Remainder of 2023		821
2024		1,165
2025		1,234
2026		1,224
2027		1,215
2028		1,008
Thereafter		5,178
Total remaining estimated amortization expense	$	11,845

Revenue From Contracts With Customers - Summary of Information about Receivables and Contract Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Contract Balances [Line Items]
Accounts receivable, current	$ 4,660	$ 6,040
Notes receivable, current	203	200
Notes receivable, long-term	768	442
Deferred revenue, current	1,032	768
Contract liability, current	1,032	768
Notes and Other Receivables, Long-Term, Net
Schedule Of Contract Balances [Line Items]
Notes receivable, long-term	768	442
Prepaid and Other Current Assets
Schedule Of Contract Balances [Line Items]
Contract asset, current	404	332
Other Long-Term Liabilities
Schedule Of Contract Balances [Line Items]
Deferred revenue, non-current	198	17
Contract liability, non-current	$ 161	$ 150

Revenue From Contracts With Customers - Schedule of Information About Contract Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 935	$ 970
Billings not yet recognized as revenue	823	432
Beginning contract liabilities recognized as revenue	(367)	(361)
Ending balance	$ 1,391	$ 1,041

Revenue From Contracts With Customers - Schedule of Information About Contract Assets from Contracts with Customers (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Revenue From Contract With Customer [Abstract]
Beginning Balance	$ 332
Contract assets recognized	117
Payments received	(45)
Ending Balance	$ 404

Net Loss per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Loss Per Share

The following is a reconciliation of the numerator (net loss) and the denominator (number of shares) used in the basic and diluted net loss per share calculations:


	Three Months Ended March 31,
	2023			2022
Net loss	$	(4,272	)	$	(6,674	)
Weighted average number of shares of common stock		10,716			9,967
Basic and diluted net loss per share	$	(0.40	)	$	(0.67	)

Schedule of Anti-Dilutive Weighted Average Shares Excluded From Diluted Net Loss Per Share Diluted Shares Calculation

The anti-dilutive weighted average shares excluded from the diluted net loss per share diluted shares calculations were:


	Three Months Ended March 31,
	2023		2022
Restricted stock awards and units		868		1,073
Outstanding stock options		1,515		1,052
Total		2,383		2,125

Stockholders' Equity - Additional Information (Details) - USD ($)		3 Months Ended
	Apr. 08, 2021	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, shares issued		0		0
Preferred stock, shares outstanding		0		0
Common stock voting rights		The Company has a single class of common stock in which stockholders are entitled to one vote for each share of common stock
Cash dividend declared on common stock		$ 0	$ 0
Maximum value of common and preferred stock and other securities issuable	$ 100,000,000.0
Securities Purchase Agreement
Class of Stock [Line Items]
Agreement initiated date		May 12, 2023
ATM offerings
Class of Stock [Line Items]
Common stock issued, Shares		0	0
ATM offerings \| Maximum
Class of Stock [Line Items]
Aggregate amount offered, issuance and sale by the Company	$ 35,000,000.0

Revenue From Contracts With Customers - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue From Contracts With Customers [Line Items]
Lease revenue	$ 1,629	$ 1,399
Accounts receivables payment terms	30 days
Interest income on notes receivable	$ 12	$ 6
Revenue remaining performance obligation amount	$ 8,974
Minimum
Revenue From Contracts With Customers [Line Items]
Notes receivable interest rate	5.00%
Maximum
Revenue From Contracts With Customers [Line Items]
Notes receivable interest rate	7.00%

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 276	$ 309

Leases - Additional Information (Details)	3 Months Ended
Leases - Additional Information (Details)	Mar. 31, 2023
Minimum
Lessee and Lessor Lease Description [Line Items]
Lessor, operating leases, remaining lease terms	1 year
Maximum
Lessee and Lessor Lease Description [Line Items]
Lessor, operating leases, remaining lease terms	6 years

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Accounting Estimates	Accounting Estimates The preparation of condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements and accompanying notes to the condensed financial statements. The accounting estimates that require management’s most significant, difficult and subjective judgments include, but are not limited to, revenue recognition and allowance for expected credit losses, the valuation of notes receivable and inventory, the assessment of recoverability of intangible assets and their estimated useful lives, the valuation and recognition of stock-based compensation, operating lease right-of-use assets and liabilities, and the recognition and measurement of current and deferred income tax assets and liabilities. Management evaluates its estimates on an ongoing basis as there are changes in circumstances, facts, and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from these estimates. The COVID-19 pandemic and global macroeconomic conditions originating during the pandemic continue to directly and indirectly impact the Company’s business, results of operations and financial condition, including revenue, expenses, reserves and allowances. The Company continues to monitor developments that are highly uncertain, including supply chain disruptions and price increases, as well as the economic impact on domestic and international suppliers, customers, and markets. The Company assessed certain accounting matters that require consideration of forecasted financial information, including, but not limited to, its current expected credit losses, the carrying value of the Company's intangible assets and other long-lived assets, and valuation allowances in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of March 31, 2023 and through the date of this report. As a result of these assessments, there were no impairments or material increases in expected credit losses or valuation allowances that impacted the Company's condensed financial statements as of and for the three months ended March 31, 2023 and 2022. However, the Company's future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the condensed financial statements in future reporting periods. As of the date of issuance of these unaudited condensed interim financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities.
Fair Value Measurement	Fair Value Measurement The fair value of the Company’s financial instruments are estimates of the amounts that would be received if the Company were to sell an asset or the Company paid to transfer a liability in an orderly transaction between market participants at the measurement date or exit price. The assets and liabilities are categorized and disclosed in one of the following three categories: • Level 1—based on quoted market prices in active markets for identical assets and liabilities. • Level 2—based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—based on unobservable inputs using management’s best estimate and assumptions when inputs are unavailable. Fair value measurements are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. The carrying value of the Company’s cash, cash equivalents, accounts receivable, accounts payable, accrued liabilities, and other current liabilities approximate fair value based on the short-term maturities of these instruments. The carrying value of the Company’s notes receivable also approximates fair value based on the associated credit risk.
Income Taxes	Income Taxes Income tax expense/(benefit) from continuing operations for the three months ended March 31, 2023 and 2022 was $0 in each period, which resulted primarily from maintaining a full valuation allowance against the Company’s deferred tax assets.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted The Company reviewed recent pronouncements issued by the FASB and other authoritative standards groups with future effective dates and concluded the pronouncements are either not applicable to the Company or are not expected to have a material impact on the Company’s financial position or results of operations.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

Net Loss per Share - Schedule of Anti-Dilutive Weighted Average Shares Excluded From Diluted Net Loss Per Share Diluted Shares Calculation (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares excluded from the calculation of net loss per diluted share	2,383	2,125
Restricted Stock Awards and Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares excluded from the calculation of net loss per diluted share	868	1,073
Outstanding Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares excluded from the calculation of net loss per diluted share	1,515	1,052

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue
Product and service revenue	$ 6,623	$ 7,941
Lease	1,629	1,399
Total revenue	8,252	9,340
Cost of revenue (exclusive of amortization)
Total cost of revenue	3,932	4,648
Operating expenses
Selling, general and administrative expenses	6,755	6,278
Research and development expenses	1,650	4,788
Amortization of intangible assets	276	309
Operating loss	(4,361)	(6,683)
Other income
Other income, net	89	9
Net loss	$ (4,272)	$ (6,674)
Net loss per share:
Basic	$ (0.40)	$ (0.67)
Diluted	$ (0.40)	$ (0.67)
Weighted-average number of shares used in calculation of net loss per share:
Basic	10,716	9,967
Diluted	10,716	9,967
Product
Revenue
Product and service revenue	$ 5,658	$ 6,969
Cost of revenue (exclusive of amortization)
Total cost of revenue	2,299	2,694
Service
Revenue
Product and service revenue	965	972
Cost of revenue (exclusive of amortization)
Total cost of revenue	1,139	1,480
Lease
Cost of revenue (exclusive of amortization)
Total cost of revenue	$ 494	$ 474

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounting Policies [Abstract]
Income tax expense/(benefit) from continuing operations	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning Balance at Dec. 31, 2021	$ 54,879	$ 110	$ 132,363	$ (77,594)
Beginning Balance, Shares at Dec. 31, 2021		10,990
Stock-based compensation	1,607		1,607
Restricted stock awards cancelled		(5)
Net loss	(6,674)			(6,674)
Ending Balance at Mar. 31, 2022	49,812	$ 110	133,970	(84,268)
Ending Balance, Shares at Mar. 31, 2022		10,985
Beginning Balance at Dec. 31, 2022	41,984	$ 111	139,381	(97,508)
Beginning Balance, Shares at Dec. 31, 2022		11,093
Stock-based compensation	1,726		1,726
Common stock issued, Shares		15
Restricted stock awards cancelled		(5)
Net loss	(4,272)			(4,272)
Ending Balance at Mar. 31, 2023	$ 39,438	$ 111	$ 141,107	$ (101,780)
Ending Balance, Shares at Mar. 31, 2023		11,103

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

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+ Details

Inventories

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories

Note 4. Inventories

Inventory balances were as follows:


	As of March 31, 2023		As of December 31, 2022
Finished Goods	$	5,397	$	4,002
Work-in-process		1,912		797
Raw Materials		8,359		6,941
Total	$	15,668	$	11,740

Net Loss per Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted Stock Awards and Units
Earnings Per Share Basic [Line Items]
Shares excluded from the calculation of net loss per diluted share	894
Restricted Stock Awards
Earnings Per Share Basic [Line Items]
Shares excluded from the calculation of net loss per diluted share		1,049
Stock Options
Earnings Per Share Basic [Line Items]
Shares excluded from the calculation of net loss per diluted share	1,547	1,102

Stock-Based Compensation - Summary of Unrecognized Stock-based Compensation Expense Expected to be Amortized (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
2023	$ 3,150
2024	1,681
2025	873
2026	159
2027	5
Total unrecognized stock-based compensation expense	$ 5,868

Leases - Schedule of Lease Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Lease revenue	$ 1,629	$ 1,399

Subsequent Event - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	May 12, 2023	Mar. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Preferred stock, par value		$ 0.01	$ 0.01
Securities Purchase Agreement
Subsequent Event [Line Items]
Agreement initiated date		May 12, 2023
Subsequent Event \| Securities Purchase Agreement
Subsequent Event [Line Items]
Agreement initiated date	May 12, 2023
Warrants to purchase aggregate shares of common stock	4,367
Minimum percentage of beneficial owner of common stock upon conversion	19.99%
Net proceeds from transactions	$ 19,100
Subsequent Event \| Minimum \| Securities Purchase Agreement
Subsequent Event [Line Items]
Sale of ownership percentage	50.00%
Subsequent Event \| Warrant One \| Securities Purchase Agreement
Subsequent Event [Line Items]
Exercise price of warrants	$ 2.45
Percentage of warrants	50.00%
Subsequent Event \| Warrant Two \| Securities Purchase Agreement
Subsequent Event [Line Items]
Exercise price of warrants	$ 3.0625
Percentage of warrants	50.00%
Subsequent Event \| Series A Convertible Preferred Stock \| Securities Purchase Agreement
Subsequent Event [Line Items]
Aggregate purchase price of shares	$ 20,000
Aggregate shares	20
Preferred stock, par value	$ 0.01
Convertible stock price per share	$ 1,000

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 30, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	LENSAR, INC.
Entity Central Index Key	0001320350
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		11,102,611
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	LNSR
Security Exchange Name	NASDAQ
Entity File Number	001-39473
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0125724
Entity Address, Address Line One	2800 Discovery Drive
Entity Address, City or Town	Orlando
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32826
City Area Code	888
Local Phone Number	536-7271
Document Quarterly Report	true
Document Transition Report	false

Stock-Based Compensation - Summary of Shares Available for Issuance Under 2020 Plan (Details) - 2020 Incentive Award Plan	3 Months Ended
	Mar. 31, 2023 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Balance	1,002
Authorized	555
Granted/Awarded	(834)
Cancelled	51
Balance	774

Stock-Based Compensation

3 Months Ended

Mar. 31, 2023

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

Note 10. Stock-Based Compensation

Stock-Based Incentive Plans

The 2020 Plan

In July 2020, the Board of Directors approved the LENSAR Inc. 2020 Incentive Award Plan (the “2020 Plan”). The 2020 Plan provides for the grant of stock options, restricted stock, restricted stock unit awards and other stock-based awards to recipients. The amount and terms of grants are determined by the Company’s Board of Directors or a duly authorized committee thereof. Participants must pay the Company, or make provisions to pay, any required withholding taxes by the date of the event creating the tax liability. Participants may satisfy the tax liability in cash or in stock. A total of 3,333 shares of common stock were initially reserved for issuance pursuant to the 2020 Plan. The number of shares available for issuance under the 2020 Plan includes an annual increase on the first day of each fiscal year beginning fiscal 2021, equal to the lesser of (i) 5% of the aggregate number of shares outstanding on the final day of the immediately preceding calendar year and (ii) such smaller number of shares as determined by the Board of Directors. As of March 31, 2023 the Company has reserved 4,984 shares of common stock for issuance under the 2020 Plan.

A summary of the shares available for issuance under the 2020 Plan is as follows:


	Number of Shares
Balance at December 31, 2022		1,002
Authorized		555
Granted/Awarded		(834	)
Cancelled		51
Balance at March 31, 2023		774

Stock Options

The exercise price of incentive stock options (“ISOs”) and nonqualified stock options (“NSOs”) shall not be less than 100% of the fair market value on the grant date of the option and the term may not exceed 10 years. The exercise price of ISOs granted to a 10% stockholder shall not be less than 110% of the estimated fair market value on the grant date of the option and the term may not exceed five years. To date, options have a term of 10 years and generally vest over one to four years from the grant date.

Option award activity under the 2020 Plan is set forth below:


	Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2022		1,202		$	6.91		8.7	$	—
Options granted		367		$	2.66
Options exercised		—		$	—
Options cancelled		(22	)	$	5.32
Outstanding at March 31, 2023		1,547		$	5.93		8.7	$	—

Vested and expected to vest at March 31, 2023		1,547		$	5.93		8.7	$	—
Vested and exercisable at March 31, 2023		617		$	7.17		8.2	$	—

The weighted average grant date fair value of options granted during the three months ended March 31, 2023 was $1.73. The total fair value of options vested during the three months ended March 31, 2023 was approximately $1,209. Total unrecognized compensation expense of $2,891 related to stock options will be recognized over a weighted average period of 2.8 years.

The following table summarizes information about stock options outstanding and vested as of December 31, 2022:


	Options Outstanding						Options Vested
Exercise Price	Options Outstanding		Weighted Average Remaining Contractual Term (in Years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$2.65		349		9.8	$	2.65		—	$	—
$3.05 - $5.95		36		9.4	$	5.11		3	$	5.95
$6.04		421		8.7	$	6.04		125	$	6.04
$6.07 - $7.08		390		8.3	$	6.94		235	$	6.97
$7.13 - $8.62		351		8.0	$	8.01		254	$	7.92
		1,547		8.7	$	5.93		617	$	7.17

The Company estimated the fair value of stock-options using the Black-Scholes option pricing model. The fair value of stock options is being amortized on a straight-line basis over the requisite service period of the awards. The fair value of stock options was estimated using the following assumptions for the three months ended March 31, 2023 and 2022:


	Three Months Ended March 31,
	2023	2022
Risk-free interest rate	3.5 - 4.2%	1.5 - 1.6%
Expected term (years)	6	6
Expected volatility	70%	70%
Dividends	0.0%	0.0%

Expected term: The expected term for the Company’s stock-based compensation awards was based on an index of the expected terms of a group of comparable publicly-traded medical device and other peer companies, which the Company believed was representative of the expected term of its awards.

Risk-free interest rate: The risk-free interest rate was based on the rates paid on securities issued by the U.S. Treasury with a term approximating the expected term.

Expected volatility: The expected volatility for the Company’s stock-based compensation awards was based on an index of the historical volatilities of a group of comparable publicly-traded medical device and other peer companies, which the Company believed was representative of the volatility of its common stock.

Expected dividend yield: The Company does not intend to pay dividends for the foreseeable future. Accordingly, the Company used a dividend yield of zero in the assumptions.

Restricted Stock Awards

Restricted stock has the same rights as other issued and outstanding shares of the Company’s common stock. The compensation expense related to these awards is determined using the fair market value of the Company’s common stock on the date of the grant. Under the Company’s restricted stock plans, restricted stock awards typically vest over three years and compensation expense associated with these awards is recognized on a straight-line basis over the vesting period.

Restricted stock award activity under the 2020 Plan is set forth below:


	Restricted Stock Awards Outstanding
	Number of Units			Weighted Average Grant Date Fair Value Per Share
Non-vested at December 31, 2022		622		$	10.29
Restricted stock awards granted		—		$	—
Restricted stock awards vested		(237	)	$	10.20
Restricted stock awards cancelled		(5	)	$	10.81
Non-vested at March 31, 2023		380		$	10.34

The total fair value of restricted stock awards vested during the three months ended March 31, 2023 was approximately $2,419. At March 31, 2023 there was approximately $1,643 of total unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted-average period of 0.4 years. The number of restricted stock awards that are expected to vest are as follows: 136 in the quarter ending June 30, 2023; 169 in the quarter ending September 30, 2023; and 75 in the quarter ending December 31, 2023. These are based on restricted stock awards outstanding at March 31, 2023 and assumes the requisite service period is fulfilled for all awards outstanding. Actual vesting in future periods may vary from those reflected above.

Restricted Stock Units

Restricted stock units granted to employees and non-employees generally vest over one to four years in annual equal increments. The fair value of restricted stock units is based on the Company’s closing stock price on the date of grant.

Restricted stock unit activity under the 2020 Plan is set forth below:


	Restricted Stock Units Outstanding
	Number of Units			Weighted Average Grant Date Fair Value Per Share
Non-vested at December 31, 2022		86		$	6.33
Restricted stock units granted		468		$	2.65
Restricted stock units vested		(15	)	$	6.04
Restricted stock units cancelled		(25	)	$	2.65
Non-vested at March 31, 2023		514		$	3.16

The total fair value of restricted stock units vested during the three months ended March 31, 2023 was approximately $91. At March 31, 2023 there was approximately $1,334 of total unrecognized compensation expense related to restricted stock units, which is expected to be recognized over a weighted-average period of 2.0 years.

2020 Employee Stock Purchase Plan

In September 2020, the Board of Directors approved the LENSAR, Inc. 2020 Employee Stock Purchase Plan (the “2020 ESPP”), under which eligible employees are permitted to purchase common stock at a discount through payroll deductions. A total of 340 shares of common stock were initially reserved for issuance. The number of shares available for issuance under the 2020 ESPP includes an increase on the first day of each fiscal year, beginning in 2022, by an amount equal to the lesser of (i) 1.0% of the outstanding shares of common stock as of the last day of the immediately preceding fiscal year; or (ii) a lesser amount as determined by the Board of Directors. As of March 31, 2023, the Company has reserved 451 shares of common stock for issuance under the 2020 ESPP. The price of the common stock purchased will be the lower of 85% of the fair market value of the common stock at the beginning of an offering period or at the end of a purchase period. The 2020 ESPP is intended to qualify as an "employee stock purchase plan" within the meaning of Section 423 of the Internal Revenue Code of 1986.

As of March 31, 2023, 164 shares of common stock have been issued to employees participating in the 2020 ESPP and 287 shares were available for future issuance under the 2020 ESPP. The grant date fair value of the shares to be issued under the Company’s 2020 ESPP was estimated using the Black-Scholes valuation model.

The following table sets forth the total stock-based compensation expense recognized under the 2020 Plan and the 2020 ESPP in the Company's condensed statements of operations:


	Three Months Ended March 31,
	2023		2022
Cost of revenue – product	$	83	$	52
Cost of revenue – service		46		30
Selling, general and administrative expenses		1,426		1,377
Research and development expenses		171		148
Total	$	1,726	$	1,607

Total unrecognized stock-based compensation expense is expected to be amortized as follows:


Fiscal Year	Amount
2023	$	3,150
2024		1,681
2025		873
2026		159
2027		5
Thereafter		—
Total unrecognized stock-based compensation expense	$	5,868

The amounts included in this table are based on restricted stock awards, restricted stock units, and stock options outstanding at March 31, 2023 and assumes the requisite service period is fulfilled for all awards outstanding. Actual stock-based compensation expense in future periods may vary from those reflected in the table.

Net Loss per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Net Loss per Share

Note 11. Net Loss per Share

The following is a reconciliation of the numerator (net loss) and the denominator (number of shares) used in the basic and diluted net loss per share calculations:


	Three Months Ended March 31,
	2023			2022
Net loss	$	(4,272	)	$	(6,674	)
Weighted average number of shares of common stock		10,716			9,967
Basic and diluted net loss per share	$	(0.40	)	$	(0.67	)

The Company’s basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period.

As the Company has reported a net loss for all periods presented, basic and diluted net loss per share attributable to common stockholders are the same for those periods. The Company excluded 894 shares of underlying unvested restricted stock awards and units and 1,547 outstanding stock options for the three months ended March 31, 2023 and 1,049 shares of underlying unvested restricted stock awards and units and 1,102 outstanding stock options for the three months ended March 31, 2022 from its net loss per diluted share calculations because their effect was anti-dilutive.

The anti-dilutive weighted average shares excluded from the diluted net loss per share diluted shares calculations were:


	Three Months Ended March 31,
	2023		2022
Restricted stock awards and units		868		1,073
Outstanding stock options		1,515		1,052
Total		2,383		2,125

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 7,970	$ 14,674
Accounts receivable, net of allowance of $43 and $56, respectively	4,660	6,040
Notes receivable, net of allowance of $4 and $4, respectively	203	200
Inventories	15,668	11,740
Prepaid and other current assets	1,474	1,062
Total current assets	29,975	33,716
Property and equipment, net	520	563
Equipment under lease, net	6,248	6,316
Notes and other receivables, long-term, net of allowance of $16 and $9, respectively	768	442
Intangible assets, net	11,845	12,122
Other assets	2,605	2,685
Total assets	51,961	55,844
Current liabilities:
Accounts payable	4,923	5,422
Accrued liabilities	3,493	4,700
Deferred revenue	1,032	768
Operating lease liabilities	544	531
Total current liabilities	9,992	11,421
Long-term operating lease liabilities	2,171	2,272
Other long-term liabilities	360	167
Total liabilities	12,523	13,860
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, par value $0.01 per share, 10,000 shares authorized at March 31, 2023 and December 31, 2022; no shares issued and outstanding at March 31, 2023 and December 31, 2022
Common stock, par value $0.01 per share, 150,000 shares authorized at March 31, 2023 and December 31, 2022; 11,103 and 11,093 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	111	111
Additional paid-in capital	141,107	139,381
Accumulated deficit	(101,780)	(97,508)
Total stockholders’ equity	39,438	41,984
Total liabilities and stockholders’ equity	$ 51,961	$ 55,844

Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 6. Intangible Assets

The components of intangible assets were as follows:


	As of March 31, 2023							As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-lived intangible assets:
Customer relationships 1,2	$	4,292	$	(2,113	)	$	2,179	$	4,292	$	(2,028	)	$	2,264
Acquired technology 1,3,4		13,900		(4,234	)		9,666		13,900		(4,042	)		9,858
Acquired trademarks 1		570		(570	)		—		570		(570	)		—
	$	18,762	$	(6,917	)	$	11,845	$	18,762	$	(6,640	)	$	12,122

LENSAR acquired certain intangible assets for customer relationships from a domestic distributor in an asset acquisition, which are being amortized on a straight-line basis over a period of 10 years.

LENSAR acquired certain intangible assets from a medical technology company in an asset acquisition, which are being amortized on a straight-line basis over a period of 15 years.

Amortization expense for three months ended March 31, 2023 and 2022 was $276 and $309, respectively.


Fiscal Year	Amount
Remainder of 2023		821
2024		1,165
2025		1,234
2026		1,224
2027		1,215
2028		1,008
Thereafter		5,178
Total remaining estimated amortization expense	$	11,845

Stockholders' Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Stockholders' Equity

Note 9. Stockholders’ Equity

Preferred Stock

The Company has a single class of preferred stock, of which no shares were issued and outstanding as of March 31, 2023.

Common Stock

The Company has a single class of common stock in which stockholders are entitled to one vote for each share of common stock. No cash dividend was declared on common stock during the three months ended March 31, 2023 and 2022.

The Company currently has an effective shelf registration statement on Form S-3 (No. 333-255136), which was filed with the SEC on April 8, 2021 (the “Registration Statement”), under which the Company may offer from time to time in one or more offerings any combination of common and preferred stock, debt securities, depositary shares, warrants, purchase contracts and units of up to $100.0 million in the aggregate. The Company also simultaneously entered into a sales agreement providing for the offering, issuance and sale by the Company of up to an aggregate $35.0 million of its common stock from time to time in “at-the-market” (“ATM”) offerings under the Registration Statement. No shares were sold under the ATM during the quarters ended March 31, 2023 and 2022.

Refer to Note 12, Subsequent Event, for further details related to the Company’s entrance into a Securities Purchase Agreement, dated as of May 12, 2023, providing for the sale of preferred stock and warrants to NR-GRI Partners, LP.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Commitments And Contingencies Disclosure [Line Items]
Approximate amount of employee retention credit	$ 1,600,000
Contingent professional fees	250,000
Employee retention credit amount recognized	$ 0
Additional royalty payments rate	3.00%
Supply Agreement
Commitments And Contingencies Disclosure [Line Items]
Purchase obligation	$ 4,729,000

Stock-Based Compensation - Summary of Fair Value of Employee and Non-Employee Stock Options was Estimated Using Assumptions (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate, minimum	3.50%	1.50%
Risk-free interest rate, maximum	4.20%	1.60%
Expected term (years)	6 years	6 years
Expected volatility	70.00%	70.00%
Dividends	0.00%	0.00%

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Net [Abstract]
Finished Goods	$ 5,397	$ 4,002
Work-in-process	1,912	797
Raw Materials	8,359	6,941
Total	$ 15,668	$ 11,740

Net Loss per Share - Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss	$ (4,272)	$ (6,674)
Weighted average number of shares of common stock basic	10,716	9,967
Weighted average number of shares of common stock diluted	10,716	9,967
Basic net loss per share	$ (0.40)	$ (0.67)
Diluted net loss per share	$ (0.40)	$ (0.67)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Overview and Basis of Presentation

3 Months Ended

Mar. 31, 2023

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Overview and Basis of Presentation

Note 1. Overview and Basis of Presentation

Overview and Organization

LENSAR, Inc. (“LENSAR” or the “Company”) is a global medical device business focused on the design, development and commercialization of advanced technology for the treatment of cataracts and management of astigmatism to achieve improved visual outcomes for patients. The Company is a public company whose stock is listed and trading under the symbol “LNSR” on The Nasdaq Stock Market LLC (“Nasdaq”). The Company’s revenue is derived from the sale and lease of the Company’s laser systems, which may include equipment, a consumable referred to as the Patient Interface Device (“PID”), procedure licenses, training, installation, limited warranty and maintenance agreements through extended warranty. The Company has developed its next-generation ALLY® Adaptive Cataract Treatment System (“ALLY System”), which combines all of the features from the LENSAR Laser System with a dual-pulse laser, integrated in a small, compact cataract treatment system that is designed to allow surgeons to perform a sterile femtosecond laser assisted cataract procedure in a single operating room or in-office surgical suite. The ALLY System, which has received clearance from the U.S. Food and Drug Administration (“FDA”), enables cataract surgeons to complete the femtosecond-laser-assisted cataract surgery (“FLACS”) procedure in a single, sterile environment. The Company executed a controlled and targeted initial launch of the ALLY System beginning in August 2022. The ALLY System is now available to U.S. cataract surgeons and has also received regulatory clearance in India. In addition, we submitted the ALLY System for certification in the European Union, or EU, in September 2022 and intend to submit additional marketing or certification applications outside the United States in an effort to commercialize the ALLY System in additional countries and operating regions. The Company’s ability to place systems in 2022 was limited by supply chain constraints that delayed the delivery of certain ALLY System raw materials and the completion and testing of ALLY Systems for use as launch-stock inventory.

The Company has incurred recurring losses and operating cash outflows since its inception and, as of March 31, 2023, had an accumulated deficit of $101,780. The Company expects to continue to incur losses and cash outflows from operating activities for the near-term future. In addition, the Company’s results of operations, financial condition and cash flows have been adversely affected by the COVID-19 pandemic, including supply chain shortages, inflationary pressures and price increases that originated during the pandemic. The Company has experienced some supply chain disruptions and increased costs or unavailability of various component parts needed for the development and supply of the ALLY System originally connected with the COVID-19 pandemic, including increasing lead times required for the ordering of component parts to meet targeted production goals and unpredictability with respect to the availability and delivery timing of these parts. The extent to which the COVID-19 outbreak, and current or future variants, will further negatively impact the Company’s business or operating results cannot be determined with certainty at this time. To date, the Company has maintained sufficient inventory to mitigate significant adverse impact from such disruptions and unavailability in the near-term and to facilitate the launch of the ALLY System. If supply chain shortages and disruptions continue or worsen, or the Company is unable to find suitable alternative component parts, there is no guarantee the Company will be able to meet customer demand for the ALLY System following its launch. In addition, pricing increases in component parts for the ALLY System resulting from inflationary pressures and related macroeconomic conditions may necessitate an increase in overall cost to customers, which in turn may have an adverse impact on customer demand.

Management believes the Company’s cash and cash equivalents on hand, together with cash generated from the future sale and lease of products and expected issuance and sale of preferred stock and warrants, will provide sufficient funds for its operating, investing, and financing cash flows for a period of at least twelve months from the date of issuance of these financial statements. Refer to Note 12, Subsequent Event, for further details related to the Company’s entrance into a Securities Purchase Agreement, dated as of May 12, 2023, providing for the sale of preferred stock and warrants to NR-GRI Partners, LP. With the commercial launch of the ALLY System, the Company expects annual revenue and selling, general and administrative expenses to increase from current levels. In addition, the successful commercialization of the ALLY System depends in part on the Company’s ability to produce the ALLY System in sufficient quantities, within requested timelines and at an acceptable price to satisfy customer demand. The Company’s liquidity needs will be largely determined by the Company’s ability to successfully commercialize its products and the progression, additional regulatory clearances or certifications and launch of the ALLY System in additional jurisdictions in the future. Such success will depend in part on the availability of the necessary component parts for the ALLY System. In the future, the Company may need to raise additional capital through equity or debt financings, borrowings under credit facilities or from other sources in the future. The Company may issue securities, including common stock, preferred stock, warrants, and/or debt securities through private placement transactions or registered public offerings in the future. The Company’s ability to raise additional funds will depend, among other factors, on financial, economic and market conditions, many of which are outside of the Company’s control, and the Company may be unable to raise financing when needed, or on terms favorable to the Company. If the necessary funds are not available from these sources, the Company may have to delay, reduce or suspend the scope of its sales and marketing efforts, research and development activities, or other components of its operations.

Basis of Presentation

These condensed financial statements of the Company are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information and, therefore, omit or condense certain footnotes and other information normally included. The condensed financial statements include all adjustments (consisting only of normal recurring adjustments) that management of the Company believes are necessary for a fair statement of the periods presented. These interim financial results are not necessarily indicative of results expected for the full fiscal year. The December 31, 2022 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP.

The accompanying unaudited condensed financial statements and related financial information should be read in conjunction with the Company’s annual audited financial statements and the related notes thereto for the fiscal year ended December 31, 2022, included in the Annual Report on Form 10-K (the “Annual Report”) as filed with the SEC.

Intangible Assets - Components of Intangible Assets (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2019	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Acquired intangible assets weighted average amortization period	15 years
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Acquired intangible assets weighted average amortization period	10 years
Acquired Technology
Finite Lived Intangible Assets [Line Items]
Acquired intangible assets weighted average amortization period	15 years	15 years
Contingent milestone payments			$ 2,400
Maximum \| Customer Relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets estimated useful life	20 years

Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 8. Commitments and Contingencies

Purchase Obligation

LENSAR is a party to various supply agreements for the manufacture and supply of certain components. The supply agreements commit LENSAR to a minimum purchase obligation of approximately $4,729 over the next 24 months. LENSAR expects to meet these requirements.

Royalty Payments

The Company acquired certain intellectual property, which would result in royalty payments at a rate of 3% of certain revenue upon the phacoemulsification features being cleared for commercialization and operational in the ALLY System.

Employee Retention Credit

In March 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act provides for an employee retention credit (“ERC”), which is a refundable tax credit against certain employment taxes paid in 2020 and 2021. The Company filed for the ERC in the amount of approximately $1,600 in the first quarter of 2023. Should the Company receive the full ERC, it will owe $250 in contingent professional fees. Given the uncertainty the ERC will be allowed by the Internal Revenue Service and the amount received, if any, cannot be estimated, the Company has not recognized any amounts in the condensed financial statements as of March 31, 2023.

Legal Matters

The medical device market in which LENSAR participates is largely technology driven. As a result, intellectual property rights, particularly patents and trade secrets, play a significant role in product development and differentiation. The Company makes provisions for liabilities when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Management believes that there are currently no claims or legal actions that would reasonably be expected to have a material adverse effect on the Company’s results of operations, financial condition or cash flows.

Stock-Based Compensation - Summary of Restricted Stock Award Activity (Details) - Restricted Stock Awards - 2020 Incentive Award Plan shares in Thousands	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2022 \| shares	622
Restricted stock awards vested \| shares	(237)
Restricted stock awards cancelled \| shares	(5)
Non-vested at March 31, 2023 \| shares	380
Non-vested at December 31, 2022 \| $ / shares	$ 10.29
Restricted stock awards vested \| $ / shares	10.20
Restricted stock awards cancelled \| $ / shares	10.81
Non-vested at March 31, 2023 \| $ / shares	$ 10.34

Overview and Basis of Presentation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Overview And Basis Of Presentation [Line Items]
Accumulated deficit	$ (101,780)	$ (97,508)
Securities Purchase Agreement
Overview And Basis Of Presentation [Line Items]
Agreement initiated date	May 12, 2023

Stock-Based Compensation - Summary of Option Award Activity (Details) - 2020 Incentive Award Plan - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding at December 31, 2022	1,202,000
Options granted	367,000
Options cancelled	(22,000)
Outstanding at March 31, 2023	1,547,000	1,202,000
Vested and expected to vest at March 31, 2023	1,547,000
Vested and exercisable at March 31, 2023	617,000
Outstanding at beginning of period, Weighted Average Exercise Price	$ 6.91
Options granted, Weighted Average Exercise Price	2.66
Options cancelled, Weighted Average Exercise Price	5.32
Outstanding at end of period, Weighted Average Exercise Price	5.93	$ 6.91
Vested and expected to vest at March 31, 2023, Weighted Average Exercise Price	5.93
Vested and exercisable at March 31, 2022, Weighted Average Exercise Price	$ 7.17
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	8 years 8 months 12 days	8 years 8 months 12 days
Vested and expected to vest at March 31, 2022, Weighted Average Remaining Contractual Term (in Years)	8 years 8 months 12 days
Vested and exercisable at March 31, 2022, Weighted Average Remaining Contractual Term (in Years)	8 years 2 months 12 days

Intangible Assets - Components of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 18,762	$ 18,762
Accumulated Amortization	(6,917)	(6,640)
Net Carrying Amount	11,845	12,122
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,292	4,292
Accumulated Amortization	(2,113)	(2,028)
Net Carrying Amount	2,179	2,264
Acquired Technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	13,900	13,900
Accumulated Amortization	(4,234)	(4,042)
Net Carrying Amount	9,666	9,858
Acquired Trademarks
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	570	570
Accumulated Amortization	(570)	(570)
Net Carrying Amount	$ 0	$ 0

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Accounts receivable, allowance	$ 43	$ 56
Notes receivable, allowance	4	4
Notes and other receivables, long-term, allowance	$ 16	$ 9
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	11,103,000	11,093,000
Common stock, shares outstanding	11,103,000	11,093,000

Stock-Based Compensation - Summary of Total Stock-Based Compensation Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 1,726	$ 1,607
Cost of Sales \| Product
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	83	52
Cost of Sales \| Service
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	46	30
Selling, General and Administrative Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,426	1,377
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 171	$ 148

Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Accrued Liabilities Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following:


	As of March 31, 2023		As of December 31, 2022
Compensation	$	2,096	$	3,348
Professional services		431		437
Customer advances		176		171
Warranty		85		120
Other		705		624
Total	$	3,493	$	4,700

Stock-Based Compensation - Summary of Stock Options Outstanding And Vested (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, Number \| shares	1,547,000
Options outstanding, Weighted average remaining contractual term (in years)	8 years 8 months 12 days
Options outstanding, Weighted average exercise price	$ 5.93
Options vested, Number Exercisable \| shares \| shares	617,000
Options vested, Weighted average exercise price	$ 7.17
Exercise Price $2.65
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, Number \| shares	349,000
Options outstanding, Weighted average remaining contractual term (in years)	9 years 9 months 18 days
Options outstanding, Weighted average exercise price	$ 2.65
Exercise Price $2.65 \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price range (lower)	$ 2.65
Exercise Price $3.05 - $5.95
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, Number \| shares	36,000
Options outstanding, Weighted average remaining contractual term (in years)	9 years 4 months 24 days
Options outstanding, Weighted average exercise price	$ 5.11
Options vested, Number Exercisable \| shares \| shares	3,000
Options vested, Weighted average exercise price	$ 5.95
Exercise Price $3.05 - $5.95 \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price range (lower)	3.05
Exercise price range (upper)	$ 5.95
Exercise Price $6.04
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, Number \| shares	421,000
Options outstanding, Weighted average remaining contractual term (in years)	8 years 8 months 12 days
Options outstanding, Weighted average exercise price	$ 6.04
Options vested, Number Exercisable \| shares \| shares	125,000
Options vested, Weighted average exercise price	$ 6.04
Exercise Price $6.04 \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price range (lower)	$ 6.04
Exercise Price $6.07 - $7.08
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, Number \| shares	390,000
Options outstanding, Weighted average remaining contractual term (in years)	8 years 3 months 18 days
Options outstanding, Weighted average exercise price	$ 6.94
Options vested, Number Exercisable \| shares \| shares	235,000
Options vested, Weighted average exercise price	$ 6.97
Exercise Price $6.07 - $7.08 \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price range (lower)	6.07
Exercise price range (upper)	$ 7.08
Exercise Price $7.13 - $8.62
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, Number \| shares	351,000
Options outstanding, Weighted average remaining contractual term (in years)	8 years
Options outstanding, Weighted average exercise price	$ 8.01
Options vested, Number Exercisable \| shares \| shares	254,000
Options vested, Weighted average exercise price	$ 7.92
Exercise Price $7.13 - $8.62 \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price range (lower)	7.13
Exercise price range (upper)	$ 8.62

Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

Note 5. Leases

Lessor Arrangements

The Company has operating leases for the LENSAR Laser System. The Company’s leases have remaining lease terms of less than one year to six years. Lease revenue for the three months ended March 31, 2023 and 2022 was as follows:


	Three Months Ended March 31,
	2023		2022
Lease revenue	$	1,629	$	1,399

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Summary of Product and Service Revenue Disaggregated by Geographic Region

The following table summarizes the Company’s product and service revenue disaggregated by geographic region, which is determined based on customer location, for the three months ended March 31, 2023 and 2022:


	Three Months Ended March 31,
	2023		2022
United States	$	4,264	$	3,970
South Korea		9		1,434
Europe		1,538		1,619
Asia (excluding South Korea)		708		780
Other		104		138
Total1	$	6,623	$	7,941

The table above does not include lease revenue of $1,629 and $1,399 for three months ended March 31, 2023 and 2022, respectively. Substantially all lease revenue originates from the United States. Refer to Note 5, Leases.

Summary of Information about Receivables and Contract Liabilities from Contracts with Customers

The following table provides information about receivables and contract liabilities from contracts with customers:


	Classification	As of March 31, 2023		As of December 31, 2022
Accounts receivable, current	Accounts receivable, net	$	4,660	$	6,040
Notes receivable, current	Notes receivable, net	$	203	$	200
Notes receivable, long-term	Notes and other receivables, long-term, net	$	768	$	442
Contract asset, current	Prepaid and other current assets	$	404	$	332
Deferred revenue, current	Deferred revenue	$	1,032	$	768
Deferred revenue, non-current	Other long-term liabilities	$	198	$	17
Contract liability, long-term	Other long-term liabilities	$	161	$	150

The following table provides information about contract assets from contracts with customers:


	Amount
Contract assets as of December 31, 2022	$	332
Contract assets recognized		117
Payments received		(45	)
Contract assets as of March 31, 2023	$	404

The following table provides information about contract liabilities from contracts with customers:


	Amount
Contract liabilities as of December 31, 2022	$	935
Billings not yet recognized as revenue		823
Beginning contract liabilities recognized as revenue		(367	)
Contract liabilities as of March 31, 2023	$	1,391

Contract liabilities as of December 31, 2021	$	970
Billings not yet recognized as revenue		432
Beginning contract liabilities recognized as revenue		(361	)
Contract liabilities as of March 31, 2022	$	1,041

Summary of Allowance for Accounts Receivable

The following table summarizes the activity in the allowance for accounts receivable:


	Amount
Accounts receivable, allowance for credit losses as of December 31, 2022	$	56
Provision for credit losses		(13	)
Write-offs		—
Accounts receivable, allowance for credit losses as of March 31, 2023	$	43

Accounts receivable, allowance for credit losses as of December 31, 2021	$	47
Provision for credit losses		3
Write-offs		(16	)
Accounts receivable, allowance for credit losses as of March 31, 2022	$	34

Summary of Allowance for Notes Receivable

The following table summarizes the activity in the allowance for notes receivable:


	Amount
Notes receivable, allowance for credit losses as of December 31, 2022	$	13
Provision for credit losses		7
Write-offs		—
Notes receivable, allowance for credit losses as of March 31, 2023	$	20

Notes receivable, allowance for credit losses as of December 31, 2021	$	63
Provision for credit losses		129
Write-offs		(11	)
Notes receivable, allowance for credit losses as of March 31, 2022	$	181

Accrued Liabilities

3 Months Ended

Mar. 31, 2023

Accrued Liabilities Current [Abstract]

Accrued Liabilities

Note 7. Accrued Liabilities

Accrued liabilities consist of the following:


	As of March 31, 2023		As of December 31, 2022
Compensation	$	2,096	$	3,348
Professional services		431		437
Customer advances		176		171
Warranty		85		120
Other		705		624
Total	$	3,493	$	4,700

Revenue From Contracts With Customers - Summary of Allowance for Notes Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 13	$ 63
Provision for credit losses	7	129
Write-offs	0	(11)
Ending balance	$ 20	$ 181

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Other than policies noted below, there have been no significant changes to the significant accounting policies disclosed in Note 2, Summary of Significant Accounting Policies, of the annual audited financial statements included in the Annual Report.

Accounting Estimates

The preparation of condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements and accompanying notes to the condensed financial statements. The accounting estimates that require management’s most significant, difficult and subjective judgments include, but are not limited to, revenue recognition and allowance for expected credit losses, the valuation of notes receivable and inventory, the assessment of recoverability of intangible assets and their estimated useful lives, the valuation and recognition of stock-based compensation, operating lease right-of-use assets and liabilities, and the recognition and measurement of current and deferred income tax assets and liabilities. Management evaluates its estimates on an ongoing basis as there are changes in circumstances, facts, and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from these estimates.

The COVID-19 pandemic and global macroeconomic conditions originating during the pandemic continue to directly and indirectly impact the Company’s business, results of operations and financial condition, including revenue, expenses, reserves and allowances. The Company continues to monitor developments that are highly uncertain, including supply chain disruptions and price increases, as well as the economic impact on domestic and international suppliers, customers, and markets. The Company assessed certain accounting matters that require consideration of forecasted financial information, including, but not limited to, its current expected credit losses, the carrying value of the Company's intangible assets and other long-lived assets, and valuation allowances in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of March 31, 2023 and through the date of this report. As a result of these assessments, there were no impairments or material increases in expected credit losses or valuation allowances that impacted the Company's condensed financial statements as of and for the three months ended March 31, 2023 and 2022. However, the Company's future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the condensed financial statements in future reporting periods.

As of the date of issuance of these unaudited condensed interim financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities.

Fair Value Measurement

The fair value of the Company’s financial instruments are estimates of the amounts that would be received if the Company were to sell an asset or the Company paid to transfer a liability in an orderly transaction between market participants at the measurement date or exit price. The assets and liabilities are categorized and disclosed in one of the following three categories:

•

Level 1—based on quoted market prices in active markets for identical assets and liabilities.

•

Level 2—based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3—based on unobservable inputs using management’s best estimate and assumptions when inputs are unavailable.

Fair value measurements are classified in their entirety based on the lowest level of input that is significant to their fair value measurement.

The carrying value of the Company’s cash, cash equivalents, accounts receivable, accounts payable, accrued liabilities, and other current liabilities approximate fair value based on the short-term maturities of these instruments. The carrying value of the Company’s notes receivable also approximates fair value based on the associated credit risk.

Income Taxes

Income tax expense/(benefit) from continuing operations for the three months ended March 31, 2023 and 2022 was $0 in each period, which resulted primarily from maintaining a full valuation allowance against the Company’s deferred tax assets.

Recently Issued Accounting Pronouncements Not Yet Adopted

The Company reviewed recent pronouncements issued by the FASB and other authoritative standards groups with future effective dates and concluded the pronouncements are either not applicable to the Company or are not expected to have a material impact on the Company’s financial position or results of operations.

Revenue From Contracts With Customers - Summary of Allowance for Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 56	$ 47
Provision for credit losses	(13)	3
Write-offs	0	(16)
Ending balance	$ 43	$ 34

Inventories (Tables)

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory balances were as follows:


	As of March 31, 2023		As of December 31, 2022
Finished Goods	$	5,397	$	4,002
Work-in-process		1,912		797
Raw Materials		8,359		6,941
Total	$	15,668	$	11,740

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

Note 3. Revenue from Contracts with Customers

Disaggregation of Revenue


	Three Months Ended March 31,
	2023		2022
United States	$	4,264	$	3,970
South Korea		9		1,434
Europe		1,538		1,619
Asia (excluding South Korea)		708		780
Other		104		138
Total1	$	6,623	$	7,941

Contract Balances

The following table provides information about receivables and contract liabilities from contracts with customers:


	Classification	As of March 31, 2023		As of December 31, 2022
Accounts receivable, current	Accounts receivable, net	$	4,660	$	6,040
Notes receivable, current	Notes receivable, net	$	203	$	200
Notes receivable, long-term	Notes and other receivables, long-term, net	$	768	$	442
Contract asset, current	Prepaid and other current assets	$	404	$	332
Deferred revenue, current	Deferred revenue	$	1,032	$	768
Deferred revenue, non-current	Other long-term liabilities	$	198	$	17
Contract liability, long-term	Other long-term liabilities	$	161	$	150

Accounts Receivables, Net – Accounts receivables, net, include amounts billed and due from customers. The amounts due are stated at their net estimated realizable value and are classified as current or noncurrent based on the timing of when the Company expects to receive payment. Most customers are on pre-paid or 30-day payment terms, depending on the product purchased. The Company

maintains an allowance for expected credit losses to provide for the estimated amount of receivables that will not be collected. The allowance is based upon an assessment of customer credit worthiness, historical payment experience, the age of outstanding receivables, collateral to the extent applicable and reflects the possible impact of current conditions and reasonable forecasts not already reflected in historical loss information.

The following table summarizes the activity in the allowance for accounts receivable:


	Amount
Accounts receivable, allowance for credit losses as of December 31, 2022	$	56
Provision for credit losses		(13	)
Write-offs		—
Accounts receivable, allowance for credit losses as of March 31, 2023	$	43

Accounts receivable, allowance for credit losses as of December 31, 2021	$	47
Provision for credit losses		3
Write-offs		(16	)
Accounts receivable, allowance for credit losses as of March 31, 2022	$	34

Notes Receivables, Net – Notes receivable, net includes amounts billed and due from customers under extended payment terms with a significant financing component. Interest rates on notes receivable range from 5.0% to 7.0%. The Company recorded interest income on notes receivable during the three months ended March 31, 2023 and 2022 of $12 and $6, respectively, in other income, net in the statement of operations.

The following table summarizes the activity in the allowance for notes receivable:


	Amount
Notes receivable, allowance for credit losses as of December 31, 2022	$	13
Provision for credit losses		7
Write-offs		—
Notes receivable, allowance for credit losses as of March 31, 2023	$	20

Notes receivable, allowance for credit losses as of December 31, 2021	$	63
Provision for credit losses		129
Write-offs		(11	)
Notes receivable, allowance for credit losses as of March 31, 2022	$	181

Contract Assets – The Company's contract assets represent revenue recognized for performance obligations completed before an unconditional right to payment exists, and therefore invoicing has not yet occurred. The Company classifies contract assets in Prepaid and other current assets in the Company's condensed balance sheets.

The following table provides information about contract assets from contracts with customers:


	Amount
Contract assets as of December 31, 2022	$	332
Contract assets recognized		117
Payments received		(45	)
Contract assets as of March 31, 2023	$	404

Contract Liabilities – The Company’s contract liabilities represent services and products sold to customers for which the performance obligation has not been completed by the Company. The Company classifies contract liabilities as current or noncurrent based on the timing of when it expects to recognize revenue. The noncurrent portion of contract liabilities is included in other long-term liabilities in the Company’s condensed balance sheets.

The following table provides information about contract liabilities from contracts with customers:


	Amount
Contract liabilities as of December 31, 2022	$	935
Billings not yet recognized as revenue		823
Beginning contract liabilities recognized as revenue		(367	)
Contract liabilities as of March 31, 2023	$	1,391

Contract liabilities as of December 31, 2021	$	970
Billings not yet recognized as revenue		432
Beginning contract liabilities recognized as revenue		(361	)
Contract liabilities as of March 31, 2022	$	1,041

Transaction Price Allocated to Future Performance Obligations

At March 31, 2023, the revenue expected to be recognized in future periods related to performance obligations that are unsatisfied for executed contracts with an original duration of one year or more was approximately $8,974. The Company expects to satisfy its remaining performance obligations by December 31, 2027, with $2,947 to be satisfied by December 31, 2023, $2,639 to be satisfied by December 31, 2024, $1,865 to be satisfied by December 31, 2025, $883 to be satisfied by December 31, 2026 and $640 to be satisfied thereafter. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with original expected lengths of one year or less or (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for the products delivered or services performed.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Stock-Based Compensation - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units - 2020 Incentive Award Plan shares in Thousands	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2022 \| shares	86
Restricted stock awards granted \| shares	468
Restricted stock awards vested \| shares	(15)
Restricted stock units cancelled \| shares	(25)
Non-vested at March 31, 2023 \| shares	514
Non-vested at December 31, 2022 \| $ / shares	$ 6.33
Restricted stock awards granted \| $ / shares	2.65
Restricted stock awards vested \| $ / shares	6.04
Restricted stock awards cancelled \| $ / shares	2.65
Non-vested at March 31, 2023 \| $ / shares	$ 3.16

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jul. 31, 2020	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value of options granted		$ 1.73
Total fair value of options vested		$ 1,209
Total unrecognized compensation expense		$ 2,891
Total unrecognized compensation expense, weighted-average period of recognition		2 years 9 months 18 days
Dividends		0.00%	0.00%
Common stock, shares authorized		150,000,000					150,000,000
2020 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance		287
Percentage of outstanding shares of common stock		1.00%
Exercise price of option on fair value (as a percent)		85.00%
Common stock, shares authorized		451,000						340,000
Shares of common stock have been issued to employees		164
Incentive Stock Options \| Share-based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation expense, weighted-average period of recognition		4 months 24 days
Total fair value of restricted stock awards vested		$ 2,419
Total unrecognized compensation expense		1,643
Restricted Stock Awards \| Forecast
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock awards are expected to vest				75,000	169,000	136,000
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of restricted stock units vested		$ 91
Minimum \| Incentive Stock Options And Nonqualified Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		1 year
Minimum \| Incentive Stock Options And Nonqualified Stock Options \| Share-based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of option on fair value (as a percent)		100.00%
Minimum \| Incentive Stock Options \| Share-based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of option on fair value (as a percent)		110.00%
Minimum \| Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		1 year
Maximum \| Incentive Stock Options And Nonqualified Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Term of contract		10 years
Vesting period		4 years
Maximum \| Incentive Stock Options And Nonqualified Stock Options \| Share-based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Term of contract		10 years
Maximum \| Incentive Stock Options \| Share-based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Term of contract		5 years
Maximum \| Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
2020 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance	3,333,000	4,984,000
Percentage of outstanding shares of common stock	5.00%
2020 Incentive Award Plan \| Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation expense		$ 1,334
Total unrecognized compensation expense, weighted-average period of recognition		2 years

Subsequent Event

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

Subsequent Event

Note 12. Subsequent Event

On May 12, 2023, the Company entered into a Securities Purchase Agreement (the “SPA”) with NR-GRI Partners, LP (“NR-GRI”), whereby it agreed to sell to NR-GRI, for an aggregate purchase price of $20,000, an aggregate of 20 shares of a newly established series of preferred stock designated as “Series A Convertible Preferred Stock”, par value $0.01 per share (the “Convertible Preferred Stock”), which have a stated value of $1,000 per share and are convertible into shares of the Company’s common stock (the “Conversion Shares”), and warrants (the “Warrants”) to purchase an aggregate of 4,367 shares of common stock (the “Warrant Shares”). Upon issuance at the closing, 50% of the Warrants will have an exercise price equal to $2.45 per share, and 50% of the Warrants will have an exercise price equal to $3.0625 per share, subject in each instance to adjustments as provided under the terms of the Warrants.

Holders of Convertible Preferred Stock will be entitled to vote on an as-converted basis with holders of common stock, subject to a limitation providing that that the shares of Convertible Preferred Stock will not be convertible to the extent that the conversion would cause NR-GRI to become the beneficial owner of more than 19.99% of the Company’s common stock (the “Ownership Blocker”). The Company will be obligated to call and hold a special meeting of its stockholders to approve the removal of the Ownership Blocker in compliance with Nasdaq rules. The Convertible Preferred Stock will rank senior to the common stock as to distributions and payments upon the liquidation, dissolution and winding up of the Company, and holders of Convertible Preferred Stock will participate with the holders of the common stock on an as-converted basis to the extent any dividends are declared on common stock. The shares of Convertible Preferred Stock will automatically be redeemed in connection with certain transactions (“Fundamental Transactions”), including a merger, sale of all or substantially all the assets of the Company, recapitalization, or the sale by the Company of shares resulting in more than 50% ownership by a person or group. In such event, the redemption price would be equal to the greater of the stated value of the shares of Convertible Preferred Stock or the consideration per share of common stock in the Fundamental Transaction (or in the absence of such consideration, the volume-weighted average price of the Company’s common stock immediately preceding the closing of the Fundamental Transaction).

The Company anticipates that the transaction will close on May 19, 2023, subject to customary closing conditions. The Company anticipates that net proceeds from the transaction will be approximately $19,100 after offering expenses. The Company plans to use the funds for working capital and other general corporate purposes.

In connection with the parties’ entry into the SPA, on May 12, 2023, the Company and NR-GRI entered into a Registration Rights Agreement, pursuant to which the Company agreed to file a resale registration statement with respect to the resale of the Conversion Shares and the Warrant Shares not later than 45 calendar days following the closing and to use its reasonable best efforts to cause such resale registration statement to be declared effective by the SEC as soon as practicable, but in no event later than 90 calendar days following the closing.

Revenue From Contracts With Customers - Additional Information (Details 1) $ in Thousands	Mar. 31, 2023 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation amount	$ 8,974
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation amount	$ 2,947
Revenue remaining performance obligation expected timing of satisfaction period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation amount	$ 2,639
Revenue remaining performance obligation expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation amount	$ 1,865
Revenue remaining performance obligation expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation amount	$ 883
Revenue remaining performance obligation expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue remaining performance obligation amount	$ 640
Revenue remaining performance obligation expected timing of satisfaction period

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Summary of Shares Available for Issuance Under 2020 Plan

A summary of the shares available for issuance under the 2020 Plan is as follows:


	Number of Shares
Balance at December 31, 2022		1,002
Authorized		555
Granted/Awarded		(834	)
Cancelled		51
Balance at March 31, 2023		774

Summary of Option Award Activity

Option award activity under the 2020 Plan is set forth below:


	Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2022		1,202		$	6.91		8.7	$	—
Options granted		367		$	2.66
Options exercised		—		$	—
Options cancelled		(22	)	$	5.32
Outstanding at March 31, 2023		1,547		$	5.93		8.7	$	—

Vested and expected to vest at March 31, 2023		1,547		$	5.93		8.7	$	—
Vested and exercisable at March 31, 2023		617		$	7.17		8.2	$	—

Summary of Stock Options Outstanding and Vested

The following table summarizes information about stock options outstanding and vested as of December 31, 2022:


	Options Outstanding						Options Vested
Exercise Price	Options Outstanding		Weighted Average Remaining Contractual Term (in Years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$2.65		349		9.8	$	2.65		—	$	—
$3.05 - $5.95		36		9.4	$	5.11		3	$	5.95
$6.04		421		8.7	$	6.04		125	$	6.04
$6.07 - $7.08		390		8.3	$	6.94		235	$	6.97
$7.13 - $8.62		351		8.0	$	8.01		254	$	7.92
		1,547		8.7	$	5.93		617	$	7.17

Summary of Fair Value of Stock Options was Estimated Using Assumptions

The fair value of stock options was estimated using the following assumptions for the three months ended March 31, 2023 and 2022:


	Three Months Ended March 31,
	2023	2022
Risk-free interest rate	3.5 - 4.2%	1.5 - 1.6%
Expected term (years)	6	6
Expected volatility	70%	70%
Dividends	0.0%	0.0%

Summary of Total Stock-Based Compensation Expense Recognized

The following table sets forth the total stock-based compensation expense recognized under the 2020 Plan and the 2020 ESPP in the Company's condensed statements of operations:


	Three Months Ended March 31,
	2023		2022
Cost of revenue – product	$	83	$	52
Cost of revenue – service		46		30
Selling, general and administrative expenses		1,426		1,377
Research and development expenses		171		148
Total	$	1,726	$	1,607

Summary of Unrecognized Stock-based Compensation Expense Expected to be Amortized

Total unrecognized stock-based compensation expense is expected to be amortized as follows:


Fiscal Year	Amount
2023	$	3,150
2024		1,681
2025		873
2026		159
2027		5
Thereafter		—
Total unrecognized stock-based compensation expense	$	5,868

Restricted Stock Awards

Summary of Restricted Stock Award Activity

Restricted stock award activity under the 2020 Plan is set forth below:


	Restricted Stock Awards Outstanding
	Number of Units			Weighted Average Grant Date Fair Value Per Share
Non-vested at December 31, 2022		622		$	10.29
Restricted stock awards granted		—		$	—
Restricted stock awards vested		(237	)	$	10.20
Restricted stock awards cancelled		(5	)	$	10.81
Non-vested at March 31, 2023		380		$	10.34

Restricted Stock Units

Summary of Restricted Stock Award Activity

Restricted stock unit activity under the 2020 Plan is set forth below:


	Restricted Stock Units Outstanding
	Number of Units			Weighted Average Grant Date Fair Value Per Share
Non-vested at December 31, 2022		86		$	6.33
Restricted stock units granted		468		$	2.65
Restricted stock units vested		(15	)	$	6.04
Restricted stock units cancelled		(25	)	$	2.65
Non-vested at March 31, 2023		514		$	3.16

Intangible Assets - Schedule of Impairment of Underlying Assets, Remaining Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
Remainder of 2023	$ 821
2024	1,165
2025	1,234
2026	1,224
2027	1,215
2028	1,008
Thereafter	5,178
Net Carrying Amount	$ 11,845	$ 12,122