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Jul 01, 2022
STAAR Surgical Q2 2022 Earnings Report
STAAR Surgical's Q2 2022 earnings demonstrated record net sales and ICL sales, driven by strong unit growth across key global markets.
Key Takeaways
STAAR Surgical reported record second-quarter net sales of $81.1 million, a 30% increase year-over-year, driven by a 32% increase in ICL sales and a 42% increase in ICL unit growth. The company reaffirmed its fiscal year 2022 net sales outlook of approximately $295 million.
Record net sales of $81.1 million, up 30% year-over-year.
Constant currency net sales reached $84.2 million, a 35% increase year-over-year.
ICL sales hit a record $77.9 million, up 32% year-over-year.
ICL unit growth was strong at 42% year-over-year, with significant increases in China, the U.S., and Japan.
Revenue by Segment
Forward Guidance
STAAR Surgical reaffirmed its previously provided outlook for fiscal 2022 net sales of approximately $295 million.
Positive Outlook
- Stronger than expected demand for EVO lenses
- Continued demand through the beginning of the third quarter
- Partnership with Joe Jonas to raise EVO global awareness
- U.S. commercial launch of EVO family of myopia lenses is well underway
- Showcasing entire EVO Family of Lenses at Experts Meeting and the 40th Annual Congress of the European Society of Cataract and Refractive Surgeons in Milan, Italy
Challenges Ahead
- Significant currency headwind
- Continuation of the current level of COVID-19 related challenges in China
- COVID-19 related challenges elsewhere
- Inventory reserve recognized as a result of discontinuance of Visian ICL in the U.S.
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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