Record Quarterly Net Sales of $99.0 Million;
$100.4 Million in Constant Currency
Raises Fiscal 2024 Net Sales and Adjusted
EBITDA Outlook
STAAR Surgical Company (NASDAQ: STAA), a leading developer,
manufacturer and marketer of the EVO family of Implantable
Collamer® Lenses (EVO ICL™) for myopia, astigmatism and presbyopia,
today reported financial results for the second quarter ended June
28, 2024.
Second Quarter 2024
Overview
- Net sales up 7% to $99.0 million and up 9% to $100.4 million in
constant currency
- ICL sales up 7% to $99.4 million and units up 3%
- Gross margin at 79.2% vs. 76.6% year ago
- Net income of $7.4 million or $0.15 per share vs. net income of
$6.1 million or $0.12 per share year ago
- Adjusted EBITDA of $22.5 million or $0.45 per share vs. $18.3
million or $0.37 per share year ago
- Cash, cash equivalents and investments available for sale of
$235.5 million at June 28, 2024
“STAAR Surgical reported record net sales for the second quarter
of 2024, including milestone sales over $100 million on a constant
currency basis,” said Tom Frinzi, President and CEO of STAAR
Surgical. “We are committed to enhancing surgeon confidence and
practice implementation, growing the category and seizing market
share throughout the business cycle. For our surgeon customers
globally, our EVO ICL technology is increasingly instrumental in
enhancing their offerings, market competitiveness and practice
economics. As a result, our commercial momentum is accelerating –
as evidenced by these latest financial results, which are due to
execution against our vital few strategic priorities.”
Mr. Frinzi continued, “For the second quarter, our ICL growth
exceeded the market in all key geographies. U.S. sales were $5.5
million, up 25% year over year and 10% sequentially. In APAC, we
generated 6% sales growth, including 3% growth in China. Rounding
out our global performance, EMEA was also strong with sales growth
of 10% in the second quarter. STAAR is truly disrupting the
refractive industry to benefit our surgeon customers, their
patients and our shareholders. We are moving down the diopter curve
and as a result are beginning to realize our near-term goal of
becoming the choice for surgeons and their patients -6D of myopia
and above. Given our momentum and the opportunity before us, we are
raising our outlook for net sales, now to be in the range of $340
million to $345 million and Adjusted EBITDA to be approximately $42
million for fiscal 2024.”
Second Quarter 2024 Financial
Results
Net sales were $99.0 million for the second quarter of 2024, up
7% compared to $92.3 million reported in the prior year quarter.
The sales increase in the second quarter was driven by ICL sales
growth of $6.3 million, up 7%, and unit growth of 3% as compared to
the prior year period. Other Product sales were up $0.4 million as
compared to the prior year period.
Gross profit margin for the second quarter of 2024 was 79.2% of
net sales compared to the prior year quarter of 76.6% of net sales.
Gross margin in the second quarter was favorably impacted primarily
due to changes in reserves related to cataract IOLs in the prior
year quarter. The Company exited its cataract IOL business in
fiscal 2023.
Operating expenses for the second quarter of 2024 were $66.5
million compared to the prior year quarter of $62.1 million.
General and administrative expenses were $23.6 million compared to
the prior year quarter of $18.1 million. The increase in general
and administrative expenses was due to increased
compensation-related expenses, facilities costs and outside
services. Selling and marketing expenses were $28.8 million
compared to the prior year quarter of $32.3 million. The decrease
in selling and marketing expenses was due to lower marketing,
promotion and advertising activities. Research and development
expenses were $14.1 million compared to the prior year quarter of
$11.8 million. The increase in research and development expenses
was due primarily to increased compensation-related expenses
partially offset by lower clinical trial costs.
Operating income for the second quarter of 2024 was $11.9
million or 12.0% of net sales as compared to operating income of
$8.6 million or 9.3% of net sales for the second quarter of
2023.
Net income for the second quarter of 2024 was $7.4 million or
$0.15 income per share compared with net income of $6.1 million or
$0.12 income per share for the prior year quarter. The increase in
net income was attributable to higher sales and gross profit,
partially offset by higher operating expense and loss on foreign
currency transactions.
Cash, cash equivalents and investments available for sale at
June 28, 2024, totaled $235.5 million, compared to $232.4 million
at December 29, 2023.
Outlook
The Company raised its outlook for fiscal year 2024 net sales
and Adjusted EBITDA. The Company now expects the following for
fiscal year 2024:
- Net sales of $340 million to $345 million, increased from prior
outlook for net sales of $335 million to $340 million.
- Adjusted EBITDA of approximately $42 million and Adjusted
EBITDA per diluted share of approximately $0.80, increased from
prior outlook of Adjusted EBITDA of approximately $39 million and
Adjusted EBITDA per diluted share of approximately $0.75.
The outlook above contemplates EVO ICL sales growth in the
Americas of 15% including 25% in the U.S. (prior outlook was 10%);
EMEA sales growth of 6% (prior outlook was for sales consistent
with fiscal year 2023); and APAC growth of 7%, including
approximately 10% in China.
Earnings Webcast
The Company will host an earnings webcast today, Wednesday,
August 7 at 4:15 p.m. Eastern / 1:15 p.m. Pacific to discuss its
financial results and operational progress. To access the webcast
please use the following link:
https://staar-surgical-2q24-earnings.open-exchange.net/
The live webcast, earnings webcast presentation and an archived
version of the webcast can be accessed from the investor relations
section of the STAAR website at www.staar.com.
Use of Non-GAAP Financial
Measures
To supplement the Company’s financial measures prepared in
accordance with U.S. generally accepted accounting principles
(GAAP), this press release and the accompanying tables include
certain non-GAAP financial measures, including Adjusted EBITDA.
Management uses these non-GAAP financial measures in its evaluation
of Company operating performance and believes investors will find
them useful in evaluating the Company’s operating performance,
including cash flow generation, and in analyzing period-to-period
financial performance of core business operations and underlying
business trends. Non-GAAP financial measures are in addition to,
not a substitute for, or superior to, measures of financial
performance prepared in accordance with GAAP.
EBITDA is a non-GAAP financial measure, which is calculated by
adding interest income and expense, net; provision for income
taxes; and depreciation and amortization to net income. In
calculating Adjusted EBITDA and Adjusted EBITDA per diluted share,
the Company further adjusts for stock-based compensation expense.
As stock-based compensation is a non-cash expense that can vary
significantly based on the timing, size and nature of awards
granted, the Company believes that the exclusion of stock-based
compensation expense can assist investors in comparisons of Company
operating results with other peer companies because (i) the amount
of such expense in any specific period may not directly correlate
to the underlying performance of our business operations and (ii)
such expense can vary significantly between periods as a result of
the timing of grants of new stock-based awards, including
inducement grants in connection with hiring. Additionally, the
Company believes that excluding stock-based compensation from
Adjusted EBITDA and Adjusted EBITDA per diluted share assists
management and investors in making meaningful comparisons between
the Company’s operating performance and the operating performance
of other companies that may use different forms of employee
compensation or different valuation methodologies for their
stock-based compensation. Investors should note that stock-based
compensation is a key incentive offered to employees whose efforts
contributed to the operating results in the periods presented and
are expected to contribute to operating results in future periods.
Investors should also note that such expenses will recur in the
future.
The Company also presents certain financial information on a
constant currency basis, which is intended to exclude the effects
of foreign currency fluctuations. The Company conducts a
significant part of its activities outside the U.S. It receives
sales revenue and pays expenses principally in U.S. dollars, Swiss
francs, Japanese yen and euros. The exchange rates between dollars
and non-U.S. currencies can fluctuate greatly and can have a
significant effect on the Company’s results when reported in U.S.
dollars. In order to compare the Company's performance from period
to period without the effect of currency, the Company will apply
the same average exchange rate applicable in the prior period, or
the “constant currency” rate to sales or expenses in the current
period as well.
In the tables provided below, the Company has included a
reconciliation of Adjusted EBITDA and Adjusted EBITDA per diluted
share to net income and net income per diluted share, the most
directly comparable GAAP financial measure, as well as supplemental
financial information with net sales expressed in constant
currency. The Company has also provided a reconciliation of
forward-looking Adjusted EBITDA and Adjusted EBITDA per diluted
share to net income and net income per diluted share. This
represents forward-looking information, and actual results may
vary. Please see the risks and assumptions referred to in the Safe
Harbor section of this press release.
About STAAR Surgical
STAAR, which has been dedicated solely to ophthalmic surgery for
over 40 years, designs, develops, manufactures and markets
implantable lenses for the eye. These lenses are intended to
provide visual freedom for patients, lessening or eliminating the
reliance on glasses or contact lenses. All of these lenses are
foldable, which permits the surgeon to insert them through a small
incision. STAAR’s lens used in refractive surgery is called an
Implantable Collamer® Lens or “ICL,” which includes the EVO ICL™
product line. More than 3,000,000 ICLs have been sold to date and
STAAR markets these lenses in over 75 countries. To learn more
about the ICL go to: EVOICL.com. Headquartered in Lake Forest, CA,
the company operates manufacturing and packaging facilities in
Aliso Viejo, CA, Monrovia, CA and Nidau, Switzerland. For more
information, please visit the Company’s website at
www.staar.com.
Safe Harbor
All statements that are not statements of historical fact are
forward-looking statements, including statements about any of the
following: any financial projections, anticipated financial
results, estimates and outlook (including as to net sales, Adjusted
EBITDA, and Adjusted EBITDA per diluted share), plans, strategies,
and objectives of management for 2024 and beyond or prospects for
achieving such plans, expectations for sales, revenue, margin,
expenses or earnings, and any statements of assumptions underlying
any of the foregoing, including those relating to financial
performance in the upcoming quarter, fiscal year 2024 and beyond.
Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements
include risks and uncertainties related to global economic
conditions, as well as the factors set forth in the Company’s
Annual Report on Form 10-K for the year ended December 29, 2023
under the caption “Risk Factors,” which is on file with the
Securities and Exchange Commission and available in the “Investor
Information” section of the company’s website under the heading
“SEC Filings.” We disclaim any intention or obligation to update or
revise any financial projections or forward-looking statement due
to new information or events. These statements are based on
expectations and assumptions as of the date of this press release
and are subject to numerous risks and uncertainties, which could
cause actual results to differ materially from those described in
the forward-looking statements. The risks and uncertainties include
the following: global economic conditions; the impact of COVID-19;
the discretion of regulatory agencies to approve or reject
existing, new or improved products, or to require additional
actions before or after approval, or to take enforcement action;
international conflicts, trade disputes and substantial dependence
on demand from Asia; and the willingness of surgeons and patients
to adopt a new or improved product and procedure.
We intend to use our website as a means of disclosing material
non-public information and for complying with our disclosure
obligations under Regulation FD. Such disclosures will be included
on our website in the ‘Investor Relations’ sections. Accordingly,
investors should monitor such portions of our website, in addition
to following our press releases, SEC filings and public conference
calls and webcasts.
Consolidated Balance Sheets (in 000's)
Unaudited ASSETS June 28, 2024
December 29, 2023 Current assets: Cash and cash equivalents
$
192,776
$
183,038
Investments available for sale
42,424
37,688
Accounts receivable trade, net
93,800
94,704
Inventories, net
39,282
35,130
Prepayments, deposits, and other current assets
15,535
14,709
Total current assets
383,817
365,269
Investments available for sale
265
11,703
Property, plant, and equipment, net
77,500
66,835
Finance lease right-of-use assets, net
109
183
Operating lease right-of-use assets, net
34,971
34,387
Goodwill
1,786
1,786
Deferred income taxes
5,078
5,190
Other assets
9,219
3,339
Total assets
$
512,745
$
488,692
LIABILITIES AND STOCKHOLDERS' EQUITY Current
liabilities: Accounts payable
$
19,059
$
13,557
Obligations under finance leases
125
165
Obligations under operating leases
4,648
4,202
Allowance for sales returns
7,225
6,174
Other current liabilities
35,113
40,938
Total current liabilities
66,170
65,036
Obligations under finance leases
-
42
Obligations under operating leases
31,499
31,425
Deferred income taxes
1,056
1,077
Asset retirement obligations
109
103
Pension liability
4,808
5,055
Total liabilities
103,642
102,738
Stockholders' equity: Common stock
492
488
Additional paid-in capital
457,402
436,947
Accumulated other comprehensive loss
(5,463
)
(4,113
)
Accumulated deficit
(43,328
)
(47,368
)
Total stockholders' equity
409,103
385,954
Total liabilities and stockholders' equity
$
512,745
$
488,692
Consolidated Statements of Income (in 000's except
for per share data) Unaudited Three Months
Ended Year to Date % ofSales June 28,2024
% ofSales June 30,2023 Fav (Unfav)Amount
% % ofSales June 28,2024 % ofSales
June 30,2023 Fav (Unfav)Amount % Net sales
100.0%
$
99,005
100.0%
$
92,306
$
6,699
7.3%
100.0
%
$
176,361
100.0%
$
165,834
$
10,527
6.3%
Cost of sales
20.8%
20,593
23.4%
21,580
987
4.6%
20.9
%
36,914
22.6%
37,546
632
1.7%
Gross profit
79.2%
78,412
76.6%
70,726
7,686
10.9%
79.1
%
139,447
77.4%
128,288
11,159
8.7%
Selling, general and administrative expenses: General and
administrative
23.9%
23,641
19.6%
18,097
(5,544
)
(30.6)%
26.6
%
46,869
21.8%
36,195
(10,674
)
(29.5)%
Selling and marketing
29.1%
28,819
35.0%
32,277
3,458
10.7%
31.5
%
55,527
35.4%
58,631
3,104
5.3%
Research and development
14.2%
14,054
12.7%
11,755
(2,299
)
(19.6)%
15.6
%
27,434
13.3%
22,065
(5,369
)
(24.3)%
Total selling, general, and administrative expenses
67.2%
66,514
67.3%
62,129
(4,385
)
(7.1)%
73.7
%
129,830
70.5%
116,891
(12,939
)
(11.1)%
Operating income
12.0%
11,898
9.3%
8,597
3,301
38.4%
5.4
%
9,617
6.9%
11,397
(1,780
)
(15.6)%
Other income (expense): Interest income, net
1.4%
1,422
1.9%
1,775
(353
)
(19.9)%
1.7
%
2,951
2.2%
3,597
(646
)
(18.0)%
Loss on foreign currency transactions
-3.1%
(3,049
)
-2.0%
(1,890
)
(1,159
)
(61.3)%
-3.0
%
(5,346
)
-1.1%
(1,856
)
(3,490
)
(188.0)%
Royalty income
0.0%
-
0.0%
-
-
0.0%
0.3
%
508
0.0%
-
508
0.0%
Other income, net
0.1%
63
0.0%
10
53
530.0%
0.2
%
393
0.0%
73
320
438.4%
Total other income (expense), net
-1.6%
(1,564
)
-0.1%
(105
)
(1,459
)
(1389.5)%
-0.8
%
(1,494
)
1.1%
1,814
(3,308
)
(182.4)%
Income before provision for income taxes
10.4%
10,334
9.2%
8,492
1,842
21.7%
4.6
%
8,123
8.0%
13,211
(5,088
)
(38.5)%
Provision for income taxes
3.0%
2,955
2.6%
2,428
(527
)
(21.7)%
2.3
%
4,083
2.7%
4,437
354
8.0%
Net income
7.4%
7,379
6.6%
6,064
1,315
21.7%
2.3
%
4,040
5.3%
8,774
(4,734
)
(54.0)%
Net income per share - basic
0.15
0.13
0.08
0.18
Net income per share - diluted
0.15
0.12
0.08
0.18
Weighted average shares outstanding - basic
49,127
48,418
49,018
48,333
Weighted average shares outstanding - diluted
49,811
49,516
49,529
49,524
Consolidated Statements of Cash Flows (in
000's) Unaudited Three Months Ended
Year to Date June 28, 2024 June 30, 2023
June 28, 2024 June 30, 2023 Cash flows from operating
activities: Net income
$
7,379
$
6,064
$
4,040
$
8,774
Adjustments to reconcile net income to net cash provided by (used
in) operating activities: Depreciation of property and equipment
1,522
1,285
2,759
2,398
Amortization of long-lived intangibles
-
164
-
171
Accretion/Amortization of investments available for sale
(166
)
(841
)
(286
)
(1,824
)
Deferred income taxes
(1
)
18
60
75
Change in net pension liability
(53
)
(614
)
(146
)
(627
)
Stock-based compensation expense
9,042
8,423
15,381
14,488
Change in asset retirement obligation
20
(107
)
20
(107
)
Loss on disposal of property and equipment
26
24
26
24
Provision for sales returns and bad debts
951
1,381
1,079
1,004
Inventory provision
378
3,016
1,024
3,630
Changes in working capital: Accounts receivable
(29,401
)
(31,234
)
436
(32,344
)
Inventories
(869
)
(462
)
(4,871
)
(4,382
)
Prepayments, deposits and other assets
(1,600
)
1,584
(7,085
)
(2,665
)
Accounts payable
2,099
1,721
3,618
(1,447
)
Other current liabilities
260
3,272
(4,788
)
1,432
Net cash provided by (used in) operating activities
(10,413
)
(6,306
)
11,267
(11,400
)
Cash flows from investing activities: Acquisition of
property and equipment
(6,236
)
(3,014
)
(11,438
)
(5,915
)
Purchase of investments available for sale
(20,249
)
(15,157
)
(20,249
)
(42,602
)
Proceeds from sale or maturity of investments available for sale
5,817
28,343
27,206
68,622
Net provided by (used in) investing activities
(20,668
)
10,172
(4,481
)
20,105
Cash flows from financing activities: Repayment of finance
lease obligations
(42
)
(40
)
(82
)
(82
)
Repurchase of employee common stock for taxes withheld
(167
)
(135
)
(1,396
)
(1,984
)
Proceeds from vested restricted stock and exercise of stock options
372
1,477
5,697
2,007
Net cash provided by (used in) financing activities
163
1,302
4,219
(59
)
Effect of exchange rate changes on cash and cash equivalents
(330
)
(441
)
(1,267
)
(431
)
Increase (decrease) in cash and cash equivalents
(31,248
)
4,727
9,738
8,215
Cash and cash equivalents, at beginning of the period
224,024
89,968
183,038
86,480
Cash and cash equivalents, at end of the period
$
192,776
$
94,695
$
192,776
$
94,695
Reconciliation of Non-GAAP Financial Measure Net Income
to Adjusted EBITDA (in 000's except for per share data)
Unaudited
2021
Q1-22 Q2-22 Q3-22 Q4-22
2022
Q1-23 Q2-23 Q3-23 Q4-23
2023
Q1-24 Q2-24 2024Outlook(2) Net income (loss) -
(as reported)
$
27,511
$
9,602
$
13,038
$
10,262
$
6,763
$
39,665
$
2,710
$
6,064
$
4,817
$
7,756
$
21,347
$
(3,339
)
$
7,379
$
-
Provision (benefit) for income taxes
3,793
1,925
2,431
2,315
(784
)
5,887
2,009
2,428
1,929
5,983
12,349
1,128
2,955
5,100
Other (income) expense, net
2,035
586
1,551
1,128
(5,015
)
(1,750
)
(1,919
)
105
(451
)
(3,334
)
(5,599
)
(70
)
1,564
(2,100
)
Depreciation
3,608
994
1,030
1,077
1,380
4,481
1,113
1,285
1,345
1,368
5,111
1,237
1,522
5,800
Amortization of intangible assets
34
8
7
7
6
28
7
10
(2
)
(2
)
13
-
-
-
Stock-based compensation
14,605
3,894
5,754
5,727
4,996
20,371
6,065
8,423
8,846
182
23,516
6,339
9,042
33,000
Adjusted EBITDA
$
51,586
$
17,009
$
23,811
$
20,516
$
7,346
$
68,682
$
9,985
$
18,315
$
16,484
$
11,953
$
56,737
$
5,295
$
22,462
$
41,800
Adjusted EBITDA as a % of Revenue
22.4
%
26.9
%
29.4
%
27.0
%
11.5
%
24.2
%
13.6
%
19.8
%
20.5
%
15.7
%
17.6
%
6.8
%
22.7
%
12.2
%
Net income (loss) per share, diluted - (as reported)
$
0.56
$
0.19
$
0.26
$
0.21
$
0.14
$
0.80
$
0.05
$
0.12
$
0.10
$
0.16
$
0.43
$
(0.07
)
$
0.15
$
-
Provision (benefit) for income taxes
0.08
0.04
0.05
0.05
(0.02
)
0.12
0.04
0.05
0.04
0.12
0.25
0.02
0.06
0.10
Other (income) expense, net
0.04
0.01
0.03
0.02
(0.10
)
(0.04
)
(0.04
)
-
(0.01
)
(0.07
)
(0.11
)
-
0.03
(0.04
)
Depreciation
0.07
0.02
0.02
0.02
0.03
0.09
0.02
0.03
0.03
0.03
0.10
0.03
0.03
0.11
Amortization of intangible assets
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Stock-based compensation
0.30
0.08
0.12
0.12
0.10
0.41
0.12
0.17
0.18
-
0.48
0.13
0.18
0.63
Adjusted EBITDA per share, diluted(1)
$
1.04
$
0.35
$
0.48
$
0.41
$
0.15
$
1.39
$
0.20
$
0.37
$
0.33
$
0.24
$
1.15
$
0.11
$
0.45
$
0.80
Weighted average shares outstanding - Diluted
49,456
49,288
49,223
49,549
49,389
49,380
49,500
49,516
49,370
49,242
49,427
49,275
49,811
52,000
(1)
Adjusted EBITDA per diluted share
may not add due to rounding
(2)
2024 Adjusted EBITDA Outlook line
items are all approximations and assumes breakeven Net Income
ICL Sales by Geography (in 000's)
Unaudited Fiscal Year Three Months Ended
ICL Sales by Region(5)
2021
2022
2023
March 31,2023 June 30,2023 September 29,2023
December 29,2023 March 29,2024 June 28,2024
Americas(1)
$
14,054
$
20,114
$
22,233
$
5,566
$
5,954
$
5,449
$
5,264
$
6,260
$
6,794
EMEA(2)
37,343
36,715
39,318
10,180
9,782
9,253
10,103
11,299
10,727
APAC(3)
161,508
212,883
257,876
54,879
77,376
66,367
59,254
59,592
81,844
Global ICL Sales
$
212,905
$
269,712
$
319,427
$
70,625
$
93,112
$
81,069
$
74,621
$
77,151
$
99,365
Global ICL Sales Growth
51%
27%
18%
20%
19%
13%
22%
9%
7%
Americas ICL Sales Growth
59%
43%
11%
42%
12%
5%
(8)%
12%
14%
EMEA ICL Sales Growth
45%
(2)%
7%
12%
(11)%
14%
18%
11%
10%
APAC ICL Sales Growth
51%
32%
21%
20%
26%
13%
26%
9%
6%
Global ICL Unit Growth
48%
33%
19%
20%
21%
14%
19%
2%
3%
Fiscal Year Three Months Ended ICL Sales by
Country(4)(5)
2021
2022
2023
March 31,2023 June 30,2023 September 29,2023
December 29,2023 March 29,2024 June 28,2024
China
$
107,130
$
147,967
$
185,404
$
35,042
$
61,288
$
48,262
$
40,813
$
38,460
$
63,345
Growth
50%
38%
25%
25%
33%
14%
30%
10%
3%
Japan
$
28,688
$
32,623
$
36,352
$
9,203
$
8,563
$
9,091
$
9,495
$
10,227
$
9,735
Growth
56%
14%
11%
6%
13%
12%
16%
11%
14%
South Korea
$
15,173
$
17,940
$
19,853
$
6,656
$
3,316
$
4,886
$
4,996
$
6,725
$
3,973
Growth
36%
18%
11%
19%
(15)%
1%
39%
1%
20%
United States
$
9,478
$
15,070
$
17,168
$
4,396
$
4,446
$
4,162
$
4,164
$
5,039
$
5,541
Growth
58%
59%
14%
71%
10%
6%
(8)%
15%
25%
Notes:
(1)
Americas includes the United
States, Canada and Latin American countries
(2)
EMEA includes Spain, Germany,
United Kingdom, European, Middle East and Africa Distributors
(3)
APAC includes China, Japan, South
Korea, India and the rest of Asia Pacific distributors
(4)
ICL Sales by country includes
countries representing more than 5% of total ICL sales in the most
recently completed fiscal year
(5)
ICL sales do not include IOL,
injector or other sales
Reconciliation of Non-GAAP Financial Measure
Constant Currency Sales (in 000's) Unaudited
Three Months Ended As Reported Constant
Currency Sales June 28, 2024 Effect
ofCurrency ConstantCurrency June 30, 2023 $
Change % Change $ Change % Change ICL
$
99,365
$
1,271
$
100,636
$
93,112
$
6,253
6.7%
$
7,524
8.1%
Cataract IOL
-
-
-
40
(40
)
(100.0)%
(40
)
(100.0)%
Other
(360
)
91
(269
)
(846
)
486
(57.4)%
577
(68.2)%
Total Sales
$
99,005
$
1,362
$
100,367
$
92,306
$
6,699
7.3%
$
8,061
8.7%
Year to Date As Reported Constant
Currency Sales June 28, 2024 Effect of
Currency Constant Currency June 30, 2023 $
Change % Change $ Change % Change ICL
$
176,516
$
2,215
$
178,731
$
163,737
$
12,779
7.8%
$
14,994
9.2%
Cataract IOL
-
-
-
1,516
(1,516
)
(100.0)%
(1,516
)
(100.0)%
Other
(155
)
113
(42
)
581
(736
)
(126.7)%
(623
)
(107.2)%
Total Sales
$
176,361
$
2,328
$
178,689
$
165,834
$
10,527
6.3%
$
12,855
7.8%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240807862292/en/
Investors & Media Brian Moore Vice President,
Investor Relations and Corporate Development (626) 303-7902, Ext.
3023 bmoore@staar.com
Grafico Azioni STAAR Surgical (NASDAQ:STAA)
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