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Thank you, Daniel. I'd like to thank the entire H.C. Wainwright team for inviting LENSAR to present at their conference. As Daniel said, I'm Nick Curtis, CEO of LENSAR. I appreciate you taking the time to learn more about our company. I'm proud to share what we're doing and the revolution that LENSAR is leading in the laser cataract surgery market. Please review the information slide two regarding forward-looking statements made during the presentation. Our SEC filings can be accessed on our website. LENSAR is a technology leader in the premium laser-assisted cataract surgery market. We've got a surgeon-centric culture. We're focused on improving efficiencies, surgical outcomes, as well as the experience for cataract patients, doctors, and their staff.
There will be an estimated 32 million cataract procedures performed in 2024, but the total laser-assisted cataract surgery or laser LACS market procedures totaled approximately 1 million. A vast majority of cataract patients treated today have visually significant astigmatism, and only a small percentage of these cases are being addressed. Given the popularity and awareness of LASIK and SMILE procedures, as well as an aging population, there's a growing demand from patients to optimize their outcomes, specifically their vision after surgery, and these outcomes are simply not achievable with conventional methods of covered cataract surgery alone. Enter LENSAR ALLY. ALLY is the first system to combine world-class imaging and a next- generation dual-pulse laser, enabling single-step, sterile, laser-assisted cataract surgical procedures. That saves significant time for surgeons, staff, and patients.
ALLY's efficiency leads to further cost savings for ambulatory surgery centers, as well as increased revenue for both ASCs and surgeons. I will go into further detail on this later. ALLY's dual pulse tissue-specific laser is also up to 4x faster, optimized for cornea and lens treatment in cataract surgery, as well as the first to utilize artificial intelligence with iris registration. This is used to guide surgical planning and treatment in the correction of astigmatism to address the visually significant astigmatism present in 70%-90% of all cataract patients today. We're bringing a disruptive technology to a large, significantly under-penetrated market. As of June 30th, 2024, we had approximately 80 ALLY systems placed and a backlog of an additional 17 systems pending installation.
We're well- positioned for growth and market expansion with ALLY, particularly as we secure regulatory approvals and launch outside the U.S. in markets like the EU and Southeast Asia, where we just received regulatory approvals. I'm proud to say that shipments to both of these regions have already started, and in fact, we completed our first European install less than a week after receiving CE mark approval. LENSAR aspires to be the technology leader in both the conventional and premium cataract markets by the end of 2025, and we're well on our way. Given the slow pace of innovation from the largest eye care companies competing in our space, ALLY has a clear advantage in three distinct categories. First, efficiencies. With the fastest laser-assisted cataract surgical procedure, ALLY saves significant time for surgeons and staff, thus reducing overhead or creating additional revenue opportunity for surgeons and ASCs.
It has the smallest footprint, highly flexible ergonomics, enables enhanced workflow, requiring fewer staff interactions, and facilitates in OR sterile procedures. Wireless integration with multiple preoperative devices eliminates the need for manual data entry, saving time and thus reducing risk of error. Astigmatism management. ALLY Streamline technology utilizes AI and iris registration, eliminates the need to manually transpose data, mark the eye, and as the clinical data clearly indicates, guides better patient outcomes.
Capsular marks remain visible post-surgery, which also facilitate Toric intraocular lens alignment verification. Last is outcomes. Cataract Density Imaging optimizes lens fragmentation into the eye, while making it easier to remove and promoting faster visual recovery. World-class proprietary imaging system provides precise biometric measurements for reproducible, automatic capsulorrhexis size, shape, as well as placement to ensure best effective lens positioning, 360-degree overlap, which is particularly crucial for LAL and all premium IOLs.
Here are some of the outcome data I was referring to in the last slide. LENSAR is agnostic to the intraocular lens manufacturer and type. As you can see, on the upper left is the AcrySof Toric, on the upper right is the Symfony Toric from J&J, the lower left is the Trulign from Bausch + Lomb, and in the lower right are arcuate incisions that were made by the laser. For Toric IOLs and AIs, data show that the IntelliAxis guides superior outcomes regardless of the lens. Our data shows superior outcomes within a half of a diopter of target for up to 98% of all patients. The data on the bottom right is arcuate incision data, and it too has greater than 95% within a half a diopter of target.
These are LASIK-like results with cataract surgery, which has been unheard of in the past. We've done several time and motion studies, which demonstrate the advantages of ALLY. They extend well beyond the patient, as our technology is delivering meaningful improvements in practice workflow, surgeon, and staff efficiency. Practice profitability, as you can see, based on the data from the previous slide, show the benefits of ALLY, and we can deliver significant cost savings to the ASC on the left-hand side here, as well as meaningfully higher revenues for both the surgical center and the surgeon. Some of the reasons why ALLY optimizes the business value. ALLY drives significant cost savings and revenue growth.
ALLY's efficiency leads to cost savings for ASCs, which is, as you can see here, $400,000-$500,000 a year, and increased revenue for both the ASCs and surgeons, up to another $497,000 a year for the ASCs and about $500,000 for each surgeon. Efficiency is the key. ALLY saves 90-120 minutes per surgery day, enabling more procedures and increasing profitability. Benefits beyond the financials, ALLY saves time for the staff, up to 18 minutes in the surgery, and patients, up to 51 minutes in their overall cataract journey, which really improves their overall experience and anxiety associated with the cataract surgery. We have a proven track record.
ALLY's predecessor, which is the LLS, has already shown a 74% increase in laser usage compared to competitors due to efficiency gains. ALLY further improves on this with additional features, which are further driving and increasing utilization. And to further that point, this is an example of one of our high-volume surgeons. This practice. What they did was they compared their conversion rates during the first eight months as an ALLY user versus the eight months immediately prior to implementing ALLY, when they were using one of the competitive devices. Their laser-assisted cataract surgery conversions increased more than fivefold with ALLY. And based on the Market Scope data, using just average surgeon charges, we estimated that ALLY contributed to $750,000 in additional revenue during those eight months.
Dr. Cathleen McCabe was one of the first surgeons to use ALLY in a sterile setting, and she pointed out that performing a sterile laser-assisted cataract surgical procedure reduced the number of patient encounters as compared to a non-sterile laser-assisted cataract procedure. ALLY in a sterile environment makes LACS l ess stressful for you, the surgeon, and less opportunity for error with only one patient encounter. Here are a few of the many comments from surgeons who have used ALLY, many more of which are available on our website. This particular slide just addresses the experience for surgeons. The next slide addresses those for the staff, and the third slide is a premium experience for patients, and I'd like to mention here that all these testimonials are basically done at no charge to the surgeon. You know, surgeon doesn't charge LENSAR for it.
The launch of ALLY has been a catalyst for significant growth for LENSAR. We've seen a 44.3% gain in U.S. procedure market share since its introduction, with consistent quarter-over-quarter increases. This positive trend underscores the success of ALLY and its impact on expanding LENSAR's market presence, in tandem with helping to increase surgeon conversion rates to these premium procedures. We're confident that we can duplicate this success internationally as we received our first OUS approvals in Taiwan and the EU just this past month. On August 7th, a few weeks ago, we announced CE mark approval to begin selling ALLY in the EU, as well as regulatory approval in Taiwan. For the last two years, surgeons in Europe and Southeast Asia have been seeing their U.S. counterparts experience the increased performance and outcomes with ALLY.
As a result, a tremendous amount of demand has been building in these and other international markets. We've got a solid network of distributors who are ready to deploy upon receipt of regulatory approvals, with shipments beginning almost immediately. And as I noted at the beginning, our first EU and Taiwan installs completed within a week of their respective regulatory approval. With these examples, I believe LENSAR is in a good position to replicate its U.S. success story in key markets elsewhere in the world. To round out the presentation, I'd like to present you our strong financials as well as the leadership team. LENSAR continued to make progress in the second quarter of twenty twenty-four, with a ramp of the ALLY system. As of June 30th, 2024 , we had approximately 80 ALLY systems placed and a backlog to place an additional 17 systems.
Procedure volume increased 16% in the United States and 19% worldwide in the second quarter of 2022 as compared to 2023. This slide shows our non-GAAP reconciliation, which is extremely straightforward. Stock-based comp and the change in fair value of warrant liabilities are added back in to get our adjusted EBITDA. These items are non-cash expenses, do not impact our cash runway, and have no impact on our projection that we have sufficient liquidity to fund the launch of ALLY. We also exclude the impairment of intangible assets, as this was a non-recurring and non-cash item. Our results for the second quarter were primarily driven by increased procedure volume. During the second quarter, we sold 10 ALLY and leased seven ALLY. 88% of these were to new accounts to LENSAR. We continue to see solid procedure growth in the U.S. and Europe.
We expect U.S. procedures to increase proportionally as we place more new to LENSAR ALLY systems. We're also extremely pleased with our gross margin percentage trending around 50%. However, we expect gross margin to trend slightly lower in 2024 due to additional system sales. You may see a slight decrease in recurring revenue percentage of total revenue, primarily due to sales mix. When we sell more systems, the recurring revenue percentage will decrease while trending upward from a revenue perspective. We're pleased to present our management team and board, which includes two of the leaders and foremost authorities in ophthalmology and technology companies in Dr. William Link, our Chairperson, and Dr. Richard Lindstrom, one of our independent board members. To recap, LENSAR is a technology leader in the premium laser-assisted cataract surgery market. We've got a customer-centric culture.
We're focused on improving efficiencies, surgical outcomes, and experience for our cataract patients. By doing this, we improve the economics a surgeon realizes in cataract procedures. We've got the right plan and the right team, and are in the early days of delivering a disruptive technology in our space. ALLY leverages much of these unique imaging and laser features of our previous generation platform, adds a next- generation laser, as well as AI for the industry's most advanced adaptive cataract treatment system. We placed our first ALLY system in Q3, 2022 . We've made tremendous progress since the launch, with 80 systems installed as of the end of quarter two, and robust utilization on all of these systems. We're bringing a highly disruptive technology to a large, significantly under-penetrated market.
We're well- positioned for growth in the market expansion with ALLY, and we plan to continue to increase our U.S. market share while we secure additional regulatory approvals and launch outside the U.S. LENSAR aspires to be the technology leader in both the conventional and premium cataract surgical markets by 2025. Thank you for taking a little time today to listen to what LENSAR is doing, and, stay tuned for our progress as we continue. Thank you.
I want to thank Nick for taking part in what has been a very productive and informative series of presentations. We appreciate the time and effort that went into preparing them. We're very grateful for your flexibility and your presence at our conference this year. Thank you again from the H.C. Wainwright team.