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STAAR Surgical Company reported a 5% increase in net sales to $77.4 million for the first quarter of 2024. The company saw a 9% growth in ICL sales and a 2% increase in units. Gross margin was at 78.9%, and adjusted EBITDA was $5.3 million or $0.11 per share. However, there was a net loss of $3.3 million or $0.07 loss per share compared to net income of $2.7 million or $0.05 income per share in the previous year. STAAR Surgical reiterated its fiscal 2024 net sales outlook range of $335 million to $340 million and expects to be at the higher end of the range. Cash, cash equivalents, and investments available for sale were $252.1 million at the end of March 29, 2024.
STAAR Surgical Company (NASDAQ: STAA) has announced a strategic agreement with IQ Laser Vision, making EVO ICL lenses a primary option for patients seeking surgical vision correction in the U.S. This partnership aims to significantly increase the availability of EVO ICL lenses to qualified patients across IQ Laser Vision's practices.
STAAR Surgical Company (NASDAQ: STAA) announced the appointment of Nancy Sabin as Chief Marketing Officer and Nathaniel Sisitsky as General Counsel to drive innovation and growth. Nancy brings extensive experience from Johnson & Johnson, while Nate joins from NuVasive. This move reflects the company's commitment to enhancing brand awareness and legal functions globally. The new executives will play a vital role in accelerating growth and expanding the market for the EVO family of Implantable Collamer Lenses.
STAAR Surgical Company (NASDAQ: STAA) will report financial results for the first quarter ended March 29, 2024, on May 7, 2024. The company will host a conference call and webcast to discuss its performance. STAAR is a leading developer, manufacturer, and marketer of Implantable Collamer® Lenses for myopia, astigmatism, and presbyopia, with over 40 years of experience in ophthalmic surgery. The company's lenses provide visual freedom for patients, reducing the need for glasses or contact lenses. STAAR operates manufacturing facilities in the US and Switzerland and markets its products in over 75 countries.
