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Sep 29, 2023
STAAR Surgical Q3 2023 Earnings Report
STAAR Surgical's Q3 2023 performance reflected growth in ICL sales and strategic advancements amidst global economic uncertainties.
Key Takeaways
STAAR Surgical reported net sales of $80.3 million, a 6% increase year-over-year, driven by a 13% increase in ICL sales. The company's ICL sales growth outperformed industry procedure growth, except in China. Due to global economic uncertainty, the company expects fiscal 2023 ICL sales to be at the low end of the previously provided range of $320 million to $325 million.
Net sales reached $80.3 million, up 6% year-over-year, but include a $0.8 million sales reduction related to other products.
ICL sales increased by 13% year-over-year, reaching $81.1 million.
ICL unit sales grew by 14% year-over-year.
Net income was $0.10 per share, compared to $0.21 per share in the prior year quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects fiscal 2023 ICL sales to be at the low end of its previously provided range of $320 million to $325 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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