STAAR Surgical reported second-quarter results on August 12 for the quarter ended July 3, swinging to $8.1 million of net income from a year-earlier loss as net sales jumped 111% year over year to $93.5 million. China sales more than doubled to $52.3 million, now accounting for more than half of total revenue, driven largely by the EVO+ lens variant launched earlier in the year, which lifted both procedure volumes and average selling prices as patients shifted toward pricier toric lenses. Sales outside China rose 6% to $41.2 million, with the Americas up 12% on growing US market share and EMEA excluding the Middle East also up 12%, while overall EMEA slipped 1% on continued Middle East disruption. Gross margin improved to 74.5% from 74.0%, and the company ended the quarter with $181.5 million in cash and no debt, up from $163.9 million three months earlier. Management cautioned that the 111% growth reflects an unusually weak year-earlier baseline, when STAAR shipped only minimal quantities to China as distributors worked down excess inventory, and asked investors to compare the coming third quarter against an adjusted base of $68.8 million rather than the reported $94.7 million, which included a one-time $25.9 million order. New CEO Warren Foust, who became permanent CEO after six months as interim co-CEO, is still searching for a Chief Technology Officer to lead the promised innovation push.
STAAR Surgical CompanySTAAR swung to $8.1M net income from a year-earlier loss as Q2 net sales jumped 111% to $93.5M.
