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Staar Surgical Co (NASDAQ: STAA) is a prominent player in the ophthalmic surgery market, with over three decades of experience. The company specializes in the development, manufacture, and marketing of implantable lenses and accompanying delivery systems for the eye. Staar Surgical's flagship product line includes the EVO Visian Implantable Collamer® Lenses (ICLs), which are used to treat a variety of visual disorders such as myopia, hyperopia, astigmatism, and presbyopia.
These lenses are designed to provide visual freedom to patients, significantly reducing or eliminating their reliance on glasses or contact lenses. The EVO Visian ICLs are foldable, allowing for a minimally invasive procedure where the lens is inserted through a small incision. This innovative approach not only enhances surgical outcomes but also minimizes recovery time for patients.
To date, nearly 600,000 EVO Visian ICLs have been implanted worldwide, showcasing the trust and effectiveness of Staar Surgical's products. Additionally, the company offers minimally invasive intraocular lenses (IOLs) geared towards cataract surgery. These include foldable IOLs and aspheric IOLs that deliver a clearer image compared to traditional spherical lenses.
Staar Surgical's commitment to advancing ophthalmic technology is evident in its continuous efforts to improve product offerings and expand its market reach. The company has formed strategic partnerships and collaborations to bolster its research and development initiatives, ensuring the delivery of cutting-edge solutions in eye care.
Financially, Staar Surgical has shown consistent growth, with the majority of its revenue generated from the ophthalmic surgical product segment. The company's focus remains on innovation and quality, driving its mission to enhance vision care globally.
STAAR Surgical Company (NASDAQ: STAA) announced a significant leadership transition, with Stephen C. Farrell appointed as President and CEO effective February 26, 2025. Farrell, currently serving as Lead Independent Director, will succeed Tom Frinzi, who will remain in an advisory role through January 2026.
The company also announced that Dr. Elizabeth Yeu has been elected as Board Chair, separating the roles of CEO and Board Chair. Farrell brings over 20 years of experience as both CEO and CFO of global healthcare businesses, most recently serving as CEO of Convey Health Solutions until February 2024.
The transition comes as STAAR, the global leader in phakic IOLs with the EVO family of Implantable Collamer® Lenses, aims to navigate global macroeconomic challenges and drive market share gains in the refractive surgery market.
STAAR Surgical (NASDAQ: STAA) reported fiscal 2024 results with net sales of $313.9 million and ICL sales of $312.5 million, impacted by weak China macroeconomic conditions. The company posted a net loss of $(20.2) million, compared to net income of $21.3 million in the previous year.
While ICL sales excluding China grew 17% in Q4 and 13% in fiscal 2024, China's performance significantly declined. The company ended the year with $230.5 million in cash and investments. Gross margin decreased to 76.3% from 78.4% year ago.
For fiscal 2025, STAAR expects ICL sales excluding China of $165-175 million (9-15% growth), and China ICL sales below $5 million in H1 2025, with potential recovery to $75-125 million in H2 2025. The company projects an Adjusted EBITDA loss range of $(50) million to $(15) million for fiscal 2025.
STAAR Surgical Company (NASDAQ: STAA), a leader in phakic IOLs with its EVO family of Implantable Collamer® Lenses (EVO ICL™), announced it will release its financial results for Q4 and fiscal year ending December 27, 2024, on February 19, 2025, after market close. CEO Tom Frinzi highlighted the company's double-digit ICL sales growth globally in 2024, except in China due to economic conditions and low consumer confidence.
The Chinese New Year in late January is expected to be a key indicator of consumer demand, especially following recent economic stimulus measures. STAAR will discuss its 2024 results and 2025 outlook during the earnings call.
The earnings webcast is scheduled for February 19, 2025, at 4:30 p.m. ET and will be available on the STAAR website. A replay will be accessible from 8:00 p.m. ET on the same day for at least 90 days.
STAAR Surgical has over 40 years of experience in ophthalmic surgery, focusing on designing, developing, and marketing implantable lenses to reduce reliance on glasses or contacts. The company has sold over 3 million ICLs across more than 75 countries.
STAAR Surgical Company (NASDAQ: STAA) has announced its participation in the 4th Annual BTIG Ophthalmology Day. The company's Chair of the Board, President and CEO, Thomas G. Frinzi, will engage in investor meetings and a fireside chat scheduled for December 2, 2024, at 4:00 p.m. ET. STAAR Surgical, with over 40 years in ophthalmic surgery, specializes in developing implantable lenses, particularly the EVO ICL™ product line for myopia, astigmatism and presbyopia. The company has sold more than 3,000,000 ICLs globally and markets these lenses in over 75 countries.
STAAR Surgical Company (NASDAQ: STAA) announces its participation in the upcoming Stephens Annual Investment Conference in Nashville. Chief Financial Officer Patrick F. Williams will participate in a webcast fireside chat on Wednesday, November 20, 2024, at 11:00 a.m. ET. STAAR Surgical, with over 40 years in ophthalmic surgery, specializes in developing implantable lenses, particularly the EVO ICL™ product line for myopia, astigmatism, and presbyopia. The company has sold more than 3,000,000 ICLs across 75+ countries and operates manufacturing facilities in California and Switzerland.
STAAR Surgical reported Q3 2024 financial results with net sales up 10% to $88.6 million, driven by growth across all regions: Americas (+14%), EMEA (+12%), and APAC (+9%). ICL sales increased 10% to $89.1 million with unit growth of 6%. The company achieved a gross margin of 77.3% and net income of $10.0 million ($0.20 per share), up from $4.8 million ($0.10 per share) year ago. The company maintained its fiscal year 2024 outlook with projected net sales of $340-345 million and Adjusted EBITDA of approximately $42 million.
STAAR Surgical reported strong Q3 2024 financial results with net sales up 10% to $88.6 million, driven by growth across all regions: Americas (+14%), EMEA (+12%), and APAC (+9%). The company achieved ICL sales of $89.1 million, also up 10% year-over-year, with unit growth of 6%. Net income reached $10.0 million ($0.20 per share), increasing from $4.8 million ($0.10 per share) in the previous year.
Despite a softening macroeconomic environment, particularly in China during the second half of the quarter, STAAR maintained its fiscal year 2024 outlook with projected net sales of $340-345 million and Adjusted EBITDA of approximately $42 million. The company ended the quarter with $236.0 million in cash, cash equivalents, and investments.
STAAR Surgical (NASDAQ: STAA) has announced it will release its third quarter 2024 financial results on Wednesday, October 30, 2024, after market close. The company will host an earnings webcast at 4:30 p.m. ET to discuss financial results and operational progress. STAAR Surgical specializes in ophthalmic surgery, designing and manufacturing implantable lenses including the EVO ICL™ product line. The company has sold over 3,000,000 ICLs and markets these lenses in more than 75 countries.
STAAR Surgical Company (NASDAQ: STAA) has announced the expansion and relocation of its STAAR Surgical Experience Center at its headquarters in Lake Forest, California. This state-of-the-art facility is designed to meet the growing demand for EVO ICL training among surgeons and refractive practices, driven by the increasing global myopia epidemic.
The center offers comprehensive, hands-on training and education in lens-based vision correction, featuring:
- Immersive wet lab training stations for up to 24 practitioners
- Advanced visualization and communication technology
- Stella™, STAAR's latest innovation in EVO ICL planning and ordering
- Demonstrations of advanced diagnostic technology
The expansion comes as STAAR Surgical reports a 25% growth in EVO ICL units in the U.S. in the first half of 2024, with more than 700 U.S. surgeons now certified to perform EVO ICL procedures. The company expects to sell more ICLs between 2024 and 2026 than in the first 25 years of ICL sales combined.
STAAR Surgical (NASDAQ: STAA) reported Q2 2024 financial results with record quarterly net sales of $99.0 million, a 7% increase from the previous year. In constant currency, sales reached $100.4 million, a 9% growth. The ICL sales grew by 7% to $99.4 million. The company achieved a gross margin of 79.2%, up from 76.6%. Net income was $7.4 million, or $0.15 per share, compared to $6.1 million, or $0.12 per share, last year. Adjusted EBITDA was $22.5 million, or $0.45 per share, up from $18.3 million, or $0.37 per share.
The company revised its fiscal 2024 outlook, now expecting net sales between $340 million and $345 million, and Adjusted EBITDA of approximately $42 million. Sales growth was notable in all key geographies, with U.S. sales up 25%, APAC up 6%, and EMEA up 10%.
Operating expenses rose to $66.5 million from $62.1 million, influenced by increased compensation and facilities costs. The company has $235.5 million in cash, cash equivalents, and investments as of June 28, 2024.
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