Staar Surg Stock Price, News & Analysis

STAAR Surgical (NASDAQ: STAA) announced significant leadership changes to optimize its organizational structure. Warren Foust has been promoted to President and Chief Operating Officer, expanding his oversight to include sales, manufacturing, operations, and additional departments. Dr. Magda Michna has been elevated to Chief Development Officer, taking on expanded responsibilities including R&D.

Key changes include:

• Deborah Andrews returns as Interim CFO, replacing Patrick F. Williams who is stepping down
• Keith Holliday retires as Chief Technology Officer
• Williams agrees to a three-month consulting period for transition

CEO Steve Farrell indicated these changes aim to drive revenue growth, improve cost structure, and enhance shareholder value. The company has already implemented measures to reduce long-term costs and plans to discuss additional growth opportunities during the first quarter earnings call.

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.