Staar Surg - STAA STOCK NEWS

STAAR Surgical Company (NASDAQ: STAA) announces the appointment of Warren Foust as Chief Operating Officer and Magda Michna, Ph.D., as Chief Clinical, Regulatory and Medical Affairs Officer. This move underscores the company's commitment to growth in the ophthalmic sector. Foust, previously with Johnson & Johnson Vision, brings extensive experience in surgical operations. Michna joins from AcuFocus, Inc., with a strong background in clinical and regulatory affairs. CEO Tom Frinzi emphasizes their roles in expanding the market for EVO ICL lenses.

STAAR Surgical Company (NASDAQ: STAA) reported robust financial results for Q4 and FY 2022, showcasing a strong growth trajectory. Q4 net sales rose to $64.0 million, a 9% increase year-over-year, driven by a 15% rise in ICL sales to $61.2 million. Fiscal 2022 net sales reached $284.4 million, up 23%, with ICL sales soaring 27%. Gross margins improved to 77.7% in Q4 and 78.5% for the year. Net income for Q4 was $5.9 million ($0.12 per share), reflecting a year-over-year increase. Looking ahead, STAAR anticipates approximately $340 million in total ICL sales for FY 2023, representing a 26% growth. The company's cash reserves totaled $225.5 million at year-end.

STAAR Surgical Company (NASDAQ: STAA) will release its financial results for the fourth quarter and fiscal year ending December 30, 2022, on February 21, 2023, after the market closes. A conference call will follow at 4:30 p.m. Eastern to discuss the results. The conference can be accessed via phone or through a live webcast on the company's website. STAAR specializes in designing and manufacturing implantable lenses for ophthalmic surgery, having sold over 2 million ICLs globally.

STAAR Surgical Company (NASDAQ: STAA) has partnered with actress Peyton List to promote its EVO Implantable Collamer® Lenses for myopia correction. List, who underwent the EVO procedure in December 2022, highlights the advantages of not needing contacts or glasses, achieving 20/20 vision post-surgery. The EVO lenses do not remove corneal tissue and have minimal downtime, making them a favorable option compared to LASIK. With myopia's global prevalence projected to reach 50% by 2050, STAAR aims to inspire others to consider EVO for their vision needs.

STAAR Surgical Company reported preliminary sales for Q4 and fiscal 2022, with net sales at approximately $64 million for Q4 and $284 million for the year. ICL sales reached $270 million, reflecting a year-over-year growth of 33%. The company provided a positive outlook for fiscal 2023, projecting 25% sales growth to about $340 million. U.S. ICL units surged 109% year-over-year, while commitments in China indicate strong demand. STAAR maintains a robust cash position, increasing from $120 million to $225 million.

STAAR Surgical Company (NASDAQ: STAA) has announced the retirement of President and CEO Caren Mason, effective December 31, 2022, after over seven years of leadership. Thomas G. Frinzi, current Board Chair, will succeed her as CEO starting January 1, 2023. Under Mason's leadership, the company achieved over 25% average revenue growth and saw its stock value increase nearly tenfold. Mason will assist in an advisory capacity until the end of 2023. STAAR expects fourth-quarter net sales between $64 million to $66 million.

STAAR Surgical has opened its first EVO Experience Center at its headquarters in Lake Forest, California, aimed at enhancing training and education for ophthalmic surgeons. The facility features advanced technology for in-person and virtual training, including a surgical simulation room. The grand opening on November 10 was attended by notable guests including fashion model India Gants. This initiative seeks to boost interest and adoption of the EVO ICL globally, with more than 2 million ICLs sold across 75 countries.

STAAR Surgical Company (STAA) reported Q3 2022 net sales of $76 million, up 30% from the prior year. Constant currency net sales hit $80 million, reflecting a 37% increase. ICL sales accounted for $72 million, a 33% rise, with units sold up 40%. Gross margin improved to 79.5%, and net income per share rose to $0.21. Despite robust growth, the company anticipates challenges in Q4 due to COVID restrictions in China, forecasting total 2022 net sales near $285 million. STAAR emphasizes focus on its premium EVO products while facing supply chain issues in its low-margin Other Products segment.

STAAR Surgical Company (NASDAQ: STAA) announced it will release its third-quarter financial results on November 2, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern to discuss the results and operational progress. Investors can access the call by dialing 844-200-6205 for domestic calls. The company, a leader in implantable lenses for ophthalmic surgery, has sold over 2 million ICLs globally. It operates facilities in California and Switzerland, emphasizing innovation in visual freedom solutions.