STAAR Surgical develops, manufactures and sells implantable Collamer lenses and delivery systems for refractive vision correction. Its largely patient-funded procedures preserve the natural lens and do not remove corneal tissue. The company operates one ophthalmic surgical-product segment, with manufacturing in California and Switzerland and substantial dependence on China distributors.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 29, 20230000950170-24-020572 | Feb 27, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 27, 20240000950170-25-024813 | Feb 21, 2025 | 10-K | Open 10-Ksec.gov |
| Jan 2, 20260000718937-26-000004 | Mar 3, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
STAAR returned to GAAP profitability in the first half of fiscal 2026 after two deteriorating annual results, but the recovery is not equivalent to a doubling of patient demand. China shipments rebounded against distributor destocking, while premium products and reduced manufacturing ramp-up costs supported profitability. First-half revenue reached $187.057 million and net income $13.264 million, yet operations still used $2.005 million of cash as receivables expanded. Fiscal 2025 comparisons also contain revenue collected for a shipment whose costs were expensed in 2024. The Alcon merger ended without completion, and permanent leadership appointments followed. Cash and investments provide financial flexibility, but concentrated customer credit exposure, tariffs, manufacturing utilization and unresolved ERP operating problems remain important constraints. This view reflects supplied disclosures through October 5, 2026, not unverified later developments.
Sources: 10-K · 2026-01-02 · 10-Q · 2026-07-03 · EX-99.1 · 2026-08-12 · 8-K · 2026-08-05 · 8-K/A · 2026-09-08
Almost all revenue comes from Implantable Collamer Lenses, including EVO and EVO+ products for myopia and toric lenses for astigmatism. Cataract-lens manufacturing ended in 2023, with no cataract-lens sales in 2024 or 2025. Patients generally pay themselves, making affordability and consumer confidence important alongside surgeon adoption. Proprietary material, clinical experience and training support the company's competitive positioning, but laser surgery and lower-cost implantable lenses remain alternatives. Geographic sales are not separate profit segments.
Sources: 10-K · 2026-01-02 · 10-Q · 2026-07-03
Revenue declined from $322.415 million in fiscal 2023 to $313.901 million in 2024 and $239.442 million in 2025. Net income of $21.347 million became losses of $20.208 million and $80.448 million. Spending expanded ahead of sales in 2023–2024; China weakness and distributor destocking subsequently exposed the larger cost base. Fiscal 2025 included $17.135 million of merger costs and $28.632 million of restructuring and impairment charges. Cost reductions therefore did not prevent a $91.713 million operating loss. The 53-week 2025 year also differs from its 52-week comparatives.
One December 2024 China shipment materially distorts the comparison. STAAR expensed its $3.9 million cost in 2024 but withheld $27.5 million of revenue because extended payment terms made collectability insufficiently probable. The customer paid in full in 2025, when revenue was recognized without corresponding current-year product cost. That accounting supports 2025's reported 76.2% gross margin; it does not establish unchanged manufacturing economics or a genuinely cost-free sale.
Sources: 10-K · 2023-12-29 · 10-K · 2024-12-27 · 10-K · 2026-01-02
For the first half ended July 3, 2026, revenue increased 115.2% to $187.057 million and GAAP net income reached $13.264 million. Q2 revenue was $93.535 million and net income $8.058 million. China accounted for most of the recovery against minimal prior-year shipments during destocking. Management attributes additional strength to EVO+ adoption, procedure volume and higher-priced toric mix, but distributor data are unaudited and do not establish comparable growth in patient procedures. EMEA weakness, particularly in the Middle East, offset stronger markets.
Q2 gross margin improved to 74.5%, helped by eliminated Swiss ramp-up period costs and lower inventory provisions. Low-volume manufacturing costs and tariffs remained offsets. Operating expenses fell against a prior year containing restructuring charges, but increased against the prior-year base excluding those charges. ERP amortization, support services and marketing severance contributed. Management also disclosed continuing ERP problems requiring extensive manual intervention; anticipated Q3 remediation was not confirmed completed.
Sources: 10-Q · 2026-07-03 · EX-99.1 · 2026-08-12
First-half operations used $2.005 million of cash despite positive earnings. Receivables absorbed $49.230 million, and net receivables reached $98.475 million; China distributors represented 65% of that balance. Inventory reductions helped, while cloud-system implementation consumed $5.046 million within operating cash flow. At July 3, cash was $148.579 million and investments $32.910 million, totaling $181.489 million versus $187.536 million at year-end. STAAR reported no outstanding debt, but $35.941 million of operating-lease liabilities and pension obligations remained.
Sources: 10-Q · 2026-07-03 · EX-99.1 · 2026-08-12
Shareholders rejected the Alcon merger on January 6, 2026; it terminated without a termination fee, not without transaction costs. Warren Foust became permanent CEO on August 4, and David Bailey became Chief Commercial Officer on September 8. Shareholders authorized another 3.9 million equity-plan shares in June, creating award capacity rather than immediate dilution. No discretionary share repurchases occurred in the first half. Recovery still depends on customer collections, sustained discretionary demand and successful Swiss production scaling; full Swiss sourcing for China and future margin expansion remained expectations.
Sources: 10-K · 2026-01-02 · 10-Q · 2026-07-03 · 8-K · 2026-08-05 · 8-K · 2026-06-18 · 8-K/A · 2026-09-08
USD 322.415 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency · fiscal weeks: 52
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 322.415 m | — |
Consolidated net sales, including ICLs, delivery systems, sales adjustments and residual cataract IOL sales.
Sources: 10-K · 2026-01-02
USD 313.901 m
FY2024 · GAAP · consolidated · Attribution: consolidated · Reported currency · fiscal weeks: 52
| Fiscal year | Value | YoY |
|---|---|---|
| 2024 | USD 313.901 m | — |
Consolidated net sales, including delivery systems and sales adjustments; excludes revenue from the $27.5 million December China shipment.
Sources: 10-K · 2026-01-02
USD 239.442 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency · fiscal weeks: 53
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 239.442 m | — |
Consolidated net sales, including delivery systems and sales adjustments; 2025 includes the $27.5 million December 2024 China shipment recognized upon collection.
Sources: 10-K · 2026-01-02
USD -80.448 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD -80.448 m | Loss widened |
| 2024 | USD -20.208 m | Turned loss-making |
| 2023 | USD 21.347 m | — |
Consolidated GAAP net income or loss after income taxes.
Sources: 10-K · 2026-01-02
USD 15.725 m
FY2024 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2024 | USD 15.725 m | 7.7% |
| 2023 | USD 14.594 m | — |
Signed consolidated operating cash flow; comparative presentation separately identifies noncash operating-lease expense without changing total cash flow.
Sources: 10-K · 2026-01-02
USD -34.23 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD -34.23 m | — |
Signed consolidated operating cash flow; includes cash used for capitalized cloud implementation.
Sources: 10-K · 2026-01-02
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