Loading...
•
Oct 01, 2021
STAAR Surgical Q3 2021 Earnings Report
STAAR Surgical's Q3 2021 earnings were reported, with net sales reaching $58.4 million, a 24% increase year-over-year, and ICL sales growing by 31% year-over-year.
Key Takeaways
STAAR Surgical reported a strong third quarter with net sales of $58.4 million, a 24% increase year-over-year. ICL sales drove growth, increasing 31% year-over-year. The company raised its full-year 2021 net sales outlook to $230 million to $231 million.
Net sales increased by 24% year-over-year to $58.4 million.
ICL sales increased by 31% year-over-year to $54.2 million.
ICL unit growth was up 29% year-over-year.
The company increased full year 2021 net sales outlook to a range of $230 million to $231 million.
Revenue by Segment
Forward Guidance
STAAR Surgical raised its outlook for full year fiscal 2021 net sales to a range of $230 million to $231 million, representing growth of over 40% year-over-year. They are also reaffirming their previously communicated pre-COVID three-year outlook for 25%+ compound annual sales growth for fiscal 2020 through 2022 despite the 2020 COVID impacted growth rate of 9%.
Positive Outlook
- Raising full year fiscal 2021 net sales outlook to $230 million to $231 million.
- Representing growth of over 40% year-over-year.
- Reaffirming pre-COVID three-year outlook for 25%+ compound annual sales growth for fiscal 2020 through 2022.
- Enthusiasm for ICL lenses continues to grow.
- Orders for ICLs outstripped supply in the quarter.
Challenges Ahead
- COVID-related employment and production output challenges.
- Modest supply chain challenges impacted the quarter.
- Backlog of over 20,000 lenses at the end of the third quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...