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Mar 31, 2023
STAAR Surgical Q1 2023 Earnings Report
STAAR Surgical's Q1 2023 net sales increased by 16% year-over-year, driven by ICL sales and unit growth.
Key Takeaways
STAAR Surgical reported a 16% increase in net sales to $73.5 million for Q1 2023, with ICL sales driving growth. The company raised its fiscal year 2023 net sales outlook to $348 million, reflecting confidence in accelerating sales momentum.
Net sales reached $73.5 million, a 16% increase year-over-year, with constant currency net sales up 20%.
ICL sales amounted to $70.6 million, representing a 20% increase year-over-year, with constant currency ICL sales up 23%.
ICL unit sales increased by 20% year-over-year.
Gross margin improved to 78.3% compared to 77.9% in the prior year quarter.
Revenue by Segment
Forward Guidance
STAAR Surgical raised its fiscal 2023 net sales outlook from $340 million to approximately $348 million, anticipating accelerating sales momentum.
Positive Outlook
- Global ICL sales growth year over year is expected to be approximately 28%.
- Maintaining a keen focus on execution against targeted priorities.
- Strength in business was broad-based across APAC, EMEA and the U.S.
- ICL procedure volumes increased strongly in China.
- End-market procedures reaching a record level in China.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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