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Side-by-side financial comparison of LENSAR, Inc. (LNSR) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.
LENSAR, Inc. is the larger business by last-quarter revenue ($14.3M vs $11.1M, roughly 1.3× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -10.2%, a 226.8% gap on every dollar of revenue. On growth, LENSAR, Inc. posted the faster year-over-year revenue change (-3.3% vs -48.8%).
LENSAR, Inc. is a medical technology company specializing in the development and commercialization of advanced ophthalmic surgical systems. Its proprietary augmented reality-enabled devices deliver high precision for cataract surgery and refractive lens exchange procedures, distributed to ophthalmology clinics, surgical centers and hospitals across North America, Europe and key Asia-Pacific markets.
NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.
LNSR vs NREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $14.3M | $11.1M |
| Net Profit | $-1.5M | $24.0M |
| Gross Margin | 36.6% | — |
| Operating Margin | -34.3% | — |
| Net Margin | -10.2% | 216.6% |
| Revenue YoY | -3.3% | -48.8% |
| Net Profit YoY | 92.2% | 58.7% |
| EPS (diluted) | $-0.09 | $0.47 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $14.3M | $11.1M | ||
| Q3 25 | $12.8M | $12.5M | ||
| Q2 25 | $12.3M | $12.1M | ||
| Q1 25 | $12.3M | $11.5M | ||
| Q4 24 | $14.8M | $21.7M | ||
| Q3 24 | $11.8M | $12.5M | ||
| Q2 24 | $10.7M | $6.7M | ||
| Q1 24 | $8.6M | $-12.8M |
| Q4 25 | $-1.5M | $24.0M | ||
| Q3 25 | $-3.7M | $50.9M | ||
| Q2 25 | $-1.8M | $22.3M | ||
| Q1 25 | $-27.3M | $26.0M | ||
| Q4 24 | $-18.7M | $15.2M | ||
| Q3 24 | $-1.5M | $23.3M | ||
| Q2 24 | $-9.0M | $12.1M | ||
| Q1 24 | $-2.2M | $-14.6M |
| Q4 25 | 36.6% | — | ||
| Q3 25 | 35.1% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 42.7% | — | ||
| Q4 24 | 35.1% | — | ||
| Q3 24 | 38.4% | — | ||
| Q2 24 | 45.5% | — | ||
| Q1 24 | 43.0% | — |
| Q4 25 | -34.3% | — | ||
| Q3 25 | -59.4% | — | ||
| Q2 25 | -51.2% | — | ||
| Q1 25 | -47.2% | — | ||
| Q4 24 | -8.7% | — | ||
| Q3 24 | -10.5% | — | ||
| Q2 24 | -49.4% | — | ||
| Q1 24 | -33.0% | — |
| Q4 25 | -10.2% | 216.6% | ||
| Q3 25 | -29.1% | 407.0% | ||
| Q2 25 | -14.4% | 184.5% | ||
| Q1 25 | -222.8% | 225.6% | ||
| Q4 24 | -126.2% | 69.9% | ||
| Q3 24 | -12.7% | 186.4% | ||
| Q2 24 | -84.6% | 179.7% | ||
| Q1 24 | -25.0% | 114.3% |
| Q4 25 | $-0.09 | $0.47 | ||
| Q3 25 | $-0.31 | $1.14 | ||
| Q2 25 | $-0.15 | $0.54 | ||
| Q1 25 | $-2.32 | $0.70 | ||
| Q4 24 | $-1.62 | $0.71 | ||
| Q3 24 | $-0.13 | $0.74 | ||
| Q2 24 | $-0.79 | $0.40 | ||
| Q1 24 | $-0.19 | $-0.83 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.0M | $31.1M |
| Total DebtLower is stronger | — | $771.2M |
| Stockholders' EquityBook value | $-26.0M | $388.0M |
| Total Assets | $71.4M | $5.3B |
| Debt / EquityLower = less leverage | — | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.0M | $31.1M | ||
| Q3 25 | $16.9M | $17.9M | ||
| Q2 25 | $20.3M | $9.1M | ||
| Q1 25 | $25.2M | $19.2M | ||
| Q4 24 | $22.5M | $3.9M | ||
| Q3 24 | $18.1M | $34.7M | ||
| Q2 24 | $14.2M | $4.3M | ||
| Q1 24 | $17.9M | $13.5M |
| Q4 25 | — | $771.2M | ||
| Q3 25 | — | $720.9M | ||
| Q2 25 | — | $815.6M | ||
| Q1 25 | — | $831.5M | ||
| Q4 24 | — | $799.3M | ||
| Q3 24 | — | $815.5M | ||
| Q2 24 | — | $861.0M | ||
| Q1 24 | — | $843.3M |
| Q4 25 | $-26.0M | $388.0M | ||
| Q3 25 | $-25.9M | $375.4M | ||
| Q2 25 | $-23.1M | $348.2M | ||
| Q1 25 | $-22.1M | $343.7M | ||
| Q4 24 | $4.9M | $336.5M | ||
| Q3 24 | $22.7M | $335.8M | ||
| Q2 24 | $23.6M | $327.5M | ||
| Q1 24 | $31.8M | $327.1M |
| Q4 25 | $71.4M | $5.3B | ||
| Q3 25 | $70.2M | $5.3B | ||
| Q2 25 | $70.4M | $5.4B | ||
| Q1 25 | $73.0M | $5.4B | ||
| Q4 24 | $66.3M | $5.4B | ||
| Q3 24 | $62.0M | $5.7B | ||
| Q2 24 | $61.4M | $6.6B | ||
| Q1 24 | $66.1M | $7.1B |
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 1.92× | ||
| Q2 25 | — | 2.34× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.63× | ||
| Q1 24 | — | 2.58× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $618.0K | $-4.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.0K | $-4.5M | ||
| Q3 25 | $-3.5M | $8.1M | ||
| Q2 25 | $-5.0M | $3.3M | ||
| Q1 25 | $-6.9M | $16.0M | ||
| Q4 24 | $3.7M | $4.4M | ||
| Q3 24 | $3.2M | $14.7M | ||
| Q2 24 | $-3.8M | $-7.5M | ||
| Q1 24 | $-5.3M | $17.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-5.1M | — | ||
| Q1 25 | $-6.9M | — | ||
| Q4 24 | $3.7M | — | ||
| Q3 24 | $3.1M | — | ||
| Q2 24 | $-3.9M | — | ||
| Q1 24 | $-5.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -41.3% | — | ||
| Q1 25 | -56.6% | — | ||
| Q4 24 | 24.7% | — | ||
| Q3 24 | 26.5% | — | ||
| Q2 24 | -36.4% | — | ||
| Q1 24 | -61.6% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 0.2% | — |
| Q4 25 | — | -0.19× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.63× | ||
| Q2 24 | — | -0.62× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LNSR
| Products | $12.7M | 89% |
| Services | $1.6M | 11% |
NREF
Segment breakdown not available.
