LENZ Therapeutics (LENZ) Q2 FY26 earnings call: guidance and Q&A

How do VIZ's refill dynamics compare to competitors, and what strategies are employed to maintain patient persistence?

Sean Olson explained that 60% of e-pharmacy patients (Q4 2025 and Q1 2026 cohorts) have purchased more than one pack, tracking towards an average of five monthly packs annually. This contrasts with competitors' 10-12% refill rates. Strategies include the product's 10-hour efficacy, discounted multi-month packs, and auto-renew options via e-pharmacy and telehealth.

“This we feel really speaks to the durability of our product. In terms of the strategy that we're employing to make sure that we continue to see high refill rates, I think the number one thing you really need is an eye drop that works. And we're excited that we have an eye drop that works for 10 hours.”

asked by Stacy Kuh · answered by Shawn Olsson

What is the comfort level with VIZ's safety profile for telehealth, and when will national TV advertising drive prescription growth?

Sean Olson stated that telehealth has strong safeguards, including screening for contraindications, recent retinal exams (within 24 months), and evaluation by independent ECPs. The national TV campaign, launched July 6th, is already showing "lifts" in all channels, including telehealth, and is expected to continue driving growth.

“Cell health patients are screened for corrobreness by fully licensed eye care physicians, they have to have no history of retinal complications and be an appropriate canter vis and have a recent retinal exam within the past 24 months.”

asked by Stacy Kuh · answered by Shawn Olsson

Where is LENZ prioritizing investment in commercial strategies that are working?

Abe Skivel-Pennick stated that Q3 will be used to assess the performance of each initiative and adapt the mix and level of investment. The focus will be on concentrating resources where there is the greatest potential to drive durable growth, driven by data.

“what we're doing now is we're move through Q3, really assessing the performance of each of those initiatives, the data that allows to continue to adapt both the mix as well as the level of investment that we feel we need for this next phase in the launch.”

asked by Stacy Kuh · answered by Unknown Speaker

Quantify the e-pharmacy's contribution to revenue and clarify if retail refill dynamics can be tracked.

Sean Olson stated that a little over 60% of scripts go through the e-pharmacy channel, where patient-level data is accessible. Retail pickup (via Symphony or IQVIA) has been "fairly poor and limited," preventing a good assessment of refill dynamics in that channel.

“we see a little over 60% of our strips are going through that e-pharmacy channel. And again, we have the most access to that data, so we do a lot of our analytics off of it.”

asked by Yigal Nikomovitz · answered by Shawn Olsson

Clarify the dynamics behind the 9% increase in monthly packs sold but flat product revenue quarter-over-quarter.

Dan Chevallard explained that the 9% increase is a volume-based metric on units shipped. Gross revenue was generally the same, and Q2 included periodic ex-US revenues. He noted that revenue per unit is similar, with some fluctuation quarter-to-quarter.

“the 9% is a volume based metric on units that shipped. Gross that in general was the same. Also what was in Q2 would have included and will continue to include periodically revenues x us so i think overall you'll find that the revenue per unit is similar there will be some fluctuation quarter to quarter but the nine percent is on an absolute volume basis of units that were that shipped uh in the second quarter compared to the first quarter.”

asked by Yigal Nikomovitz · answered by Daniel Chevallard

What proportion of telehealth submissions result in a visit, how long does the screening take, and has patient mix evolved post-DTC campaign?

Sean Olson confirmed that some patients are screened out by the telehealth process, but specific numbers are not public. The survey takes "a few minutes." Patient mix has not significantly changed post-TV campaign: approximately 60% women, 40% men, with slightly higher interest in the 45-55 age group.

“Overall, in general, it's about 60% women and 40% men purchasing the products. And also, again, we're seeing a slightly higher interest in that 45 to 55 age group.”

asked by Alyssa Larios · answered by Shawn Olsson

Is the 45% July script growth primarily from telehealth, or is the TV campaign driving other channels? Clarify the "five packs per year" refill stat.

Abe Skivel-Pennick clarified that the combination of national TV and telehealth drove all channels up, not just telehealth, indicating broad impact. Sean Olson confirmed the "five packs per year" stat applies to the 60% of e-pharmacy patients who refill, not the entire cohort.

“the combination with the TV, the national TV campaign, drove all channels up. So telehealth definitely has a significant part of the increase. but it didn't come at the expense of the other channels. So we see good and encouraging growth in the other channels as well.”

asked by Lachlan Hanbury-Brown · answered by Unknown Speaker