Staar Surg Stock Price, News & Analysis

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.

STAAR Surgical partners with professional basketball player Max Strus to promote its EVO Implantable Collamer® Lenses, aimed at addressing myopia, affecting over 2 billion globally. Strus recently underwent the EVO procedure for enhanced vision, achieving better than 20/20 clarity. The collaboration aims to raise awareness about the EVO lens as a non-invasive vision correction option. The company highlights that myopia's prevalence is expected to reach 50% of the global population by 2050, emphasizing the need for effective solutions.

STAAR Surgical Company (NASDAQ: STAA) hosted a media day in NYC featuring singer Joe Jonas, who shared his positive experience with EVO Visian® Implantable Collamer® Lenses. Since the FDA approval on March 25, 2022, STAAR has focused on educating potential patients about EVO. To enhance visibility, an omni-channel advertising campaign will begin later this month, showcasing Jonas' journey and patient satisfaction. Additionally, certified surgeons are actively promoting EVO on social media, and new patient ambassadors will join in the outreach efforts.

STAAR Surgical Company (NASDAQ: STAA) has partnered with Joe Jonas for a global campaign to promote its EVO Visian® Implantable Collamer® Lenses (EVO), designed to correct myopia and astigmatism. Recently, Jonas underwent the EVO procedure, achieving visual freedom from glasses and contact lenses. The campaign, launching in September 2022, aims to educate Americans about EVO, which has been successfully implanted worldwide and boasts a high satisfaction rate among patients. EVO lenses offer clarity, UV protection, and are removable if needed.

STAAR Surgical Company (NASDAQ: STAA) reported record net sales of $81.1 million for Q2 2022, up 30% from last year. Constant currency net sales reached $84.2 million, showing a 35% increase. The company achieved a gross margin of 78.8% and net income of $0.26 per share, up from $0.17 per share in the prior year. ICL sales, which made up 96% of total sales, increased by 32%. Despite foreign currency headwinds impacting sales by $3.1 million, STAAR reaffirmed its 2022 net sales outlook of approximately $295 million, driven by strong demand for EVO lenses.

STAAR Surgical Company (NASDAQ: STAA) is set to release its Q2 2022 financial results on August 10, 2022, after market close. The company will host a conference call and webcast the same day at 4:30 p.m. Eastern. This conference will cover financial results and operational updates. STAAR has specialized in ophthalmic surgery for over 40 years, marketing foldable implantable lenses, notably the Visian ICL, with over 2 million units sold worldwide.