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Side-by-side financial comparison of LENSAR, Inc. (LNSR) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Spire Global, Inc. is the larger business by last-quarter revenue ($15.8M vs $14.3M, roughly 1.1× LENSAR, Inc.). LENSAR, Inc. runs the higher net margin — -10.2% vs -176.6%, a 166.5% gap on every dollar of revenue. On growth, LENSAR, Inc. posted the faster year-over-year revenue change (-3.3% vs -26.9%). Over the past eight quarters, LENSAR, Inc.'s revenue compounded faster (28.8% CAGR vs -32.6%).
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.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
LNSR vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $14.3M | $15.8M |
| Net Profit | $-1.5M | $-28.0M |
| Gross Margin | 36.6% | 40.2% |
| Operating Margin | -34.3% | -164.1% |
| Net Margin | -10.2% | -176.6% |
| Revenue YoY | -3.3% | -26.9% |
| Net Profit YoY | 92.2% | 42.7% |
| EPS (diluted) | $-0.09 | $-0.85 |
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 | $15.8M | ||
| Q3 25 | $12.8M | $12.7M | ||
| Q2 25 | $12.3M | $19.2M | ||
| Q1 25 | $12.3M | $23.9M | ||
| Q4 24 | $14.8M | $21.7M | ||
| Q3 24 | $11.8M | $28.6M | ||
| Q2 24 | $10.7M | $25.4M | ||
| Q1 24 | $8.6M | $34.8M |
| Q4 25 | $-1.5M | $-28.0M | ||
| Q3 25 | $-3.7M | $-19.7M | ||
| Q2 25 | $-1.8M | $119.6M | ||
| Q1 25 | $-27.3M | $-20.7M | ||
| Q4 24 | $-18.7M | $-48.8M | ||
| Q3 24 | $-1.5M | $-12.5M | ||
| Q2 24 | $-9.0M | $-16.6M | ||
| Q1 24 | $-2.2M | $-25.5M |
| Q4 25 | 36.6% | 40.2% | ||
| Q3 25 | 35.1% | 36.6% | ||
| Q2 25 | 43.8% | 48.9% | ||
| Q1 25 | 42.7% | 36.8% | ||
| Q4 24 | 35.1% | 32.4% | ||
| Q3 24 | 38.4% | 44.5% | ||
| Q2 24 | 45.5% | 43.0% | ||
| Q1 24 | 43.0% | 26.5% |
| Q4 25 | -34.3% | -164.1% | ||
| Q3 25 | -59.4% | -166.1% | ||
| Q2 25 | -51.2% | -122.7% | ||
| Q1 25 | -47.2% | -106.5% | ||
| Q4 24 | -8.7% | -144.1% | ||
| Q3 24 | -10.5% | -48.0% | ||
| Q2 24 | -49.4% | -48.6% | ||
| Q1 24 | -33.0% | -34.4% |
| Q4 25 | -10.2% | -176.6% | ||
| Q3 25 | -29.1% | -155.3% | ||
| Q2 25 | -14.4% | 623.4% | ||
| Q1 25 | -222.8% | -86.5% | ||
| Q4 24 | -126.2% | -225.2% | ||
| Q3 24 | -12.7% | -43.7% | ||
| Q2 24 | -84.6% | -65.2% | ||
| Q1 24 | -25.0% | -73.3% |
| Q4 25 | $-0.09 | $-0.85 | ||
| Q3 25 | $-0.31 | $-0.61 | ||
| Q2 25 | $-0.15 | $3.72 | ||
| Q1 25 | $-2.32 | $-0.77 | ||
| Q4 24 | $-1.62 | $-1.93 | ||
| Q3 24 | $-0.13 | $-0.50 | ||
| Q2 24 | $-0.79 | $-0.68 | ||
| Q1 24 | $-0.19 | $-1.17 |
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 | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-26.0M | $112.9M |
| Total Assets | $71.4M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.0M | $81.8M | ||
| Q3 25 | $16.9M | $96.8M | ||
| Q2 25 | $20.3M | $117.6M | ||
| Q1 25 | $25.2M | $35.9M | ||
| Q4 24 | $22.5M | $19.2M | ||
| Q3 24 | $18.1M | $36.6M | ||
| Q2 24 | $14.2M | $45.8M | ||
| Q1 24 | $17.9M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $-26.0M | $112.9M | ||
| Q3 25 | $-25.9M | $133.1M | ||
| Q2 25 | $-23.1M | $149.2M | ||
| Q1 25 | $-22.1M | $3.7M | ||
| Q4 24 | $4.9M | $-11.7M | ||
| Q3 24 | $22.7M | $30.8M | ||
| Q2 24 | $23.6M | $40.3M | ||
| Q1 24 | $31.8M | $52.5M |
| Q4 25 | $71.4M | $211.0M | ||
| Q3 25 | $70.2M | $224.3M | ||
| Q2 25 | $70.4M | $239.5M | ||
| Q1 25 | $73.0M | $208.8M | ||
| Q4 24 | $66.3M | $193.6M | ||
| Q3 24 | $62.0M | $224.2M | ||
| Q2 24 | $61.4M | $230.8M | ||
| Q1 24 | $66.1M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $-4.3M |
| Free Cash FlowOCF − Capex | — | $-16.2M |
| FCF MarginFCF / Revenue | — | -102.1% |
| Capex IntensityCapex / Revenue | 0.0% | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.0K | $-4.3M | ||
| Q3 25 | $-3.5M | $-12.0M | ||
| Q2 25 | $-5.0M | $-35.1M | ||
| Q1 25 | $-6.9M | $-8.4M | ||
| Q4 24 | $3.7M | $-19.2M | ||
| Q3 24 | $3.2M | $14.0M | ||
| Q2 24 | $-3.8M | $-4.4M | ||
| Q1 24 | $-5.3M | $-8.8M |
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | $-5.1M | $-38.7M | ||
| Q1 25 | $-6.9M | $-17.3M | ||
| Q4 24 | $3.7M | $-24.3M | ||
| Q3 24 | $3.1M | $5.1M | ||
| Q2 24 | $-3.9M | $-9.9M | ||
| Q1 24 | $-5.3M | $-15.9M |
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | -41.3% | -201.7% | ||
| Q1 25 | -56.6% | -72.6% | ||
| Q4 24 | 24.7% | -112.2% | ||
| Q3 24 | 26.5% | 17.8% | ||
| Q2 24 | -36.4% | -39.0% | ||
| Q1 24 | -61.6% | -45.7% |
| Q4 25 | 0.0% | 75.1% | ||
| Q3 25 | 0.0% | 66.2% | ||
| Q2 25 | 0.6% | 18.8% | ||
| Q1 25 | 0.0% | 37.3% | ||
| Q4 24 | 0.0% | 23.5% | ||
| Q3 24 | 0.2% | 31.2% | ||
| Q2 24 | 1.1% | 21.8% | ||
| Q1 24 | 0.2% | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
SPIR
Segment breakdown not available.
