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Dec 31, 2021
STAAR Surgical Q4 2021 Earnings Report
STAAR Surgical's Q4 2021 earnings showcased strong growth, driven by ICL sales and increased gross margin.
Key Takeaways
STAAR Surgical reported a strong fourth quarter in 2021, with net sales increasing by 28% to $59.0 million, driven by a 33% increase in ICL sales. The company's gross margin improved to 76.3%, and net income per share rose to $0.10. The company reaffirms its previously provided outlook for Net sales of approximately $295 million for fiscal 2022.
Net sales increased by 28% to $59.0 million compared to the prior year quarter.
ICL sales grew by 33% and ICL unit sales grew by 36% compared to the prior year quarter.
Gross margin improved to 76.3% compared to 74.6% in the prior year quarter.
Net income increased to $0.10 per share compared to $0.07 per share in the prior year quarter.
Revenue by Segment
Forward Guidance
The company reaffirms its previously provided outlook for Net sales of approximately $295 million for fiscal 2022, subject to no unforeseen incremental impact from Covid on our business, which would represent 28% growth year over year and another record year of commercial and financial progress for STAAR.
Positive Outlook
- Reaffirms net sales outlook of approximately $295 million for fiscal year 2022.
- The outlook represents 28% growth year over year.
- The outlook represents another record year of commercial and financial progress for STAAR.
- Global demand for ICL continues unabated through the first seven weeks of the first quarter of 2022.
- Record orders from surgeons in China.
Challenges Ahead
- Sales in Europe and U.S. manufacturing operations were impacted by Covid-related staffing and throughput challenges.
- Fiscal 2022 outlook is subject to no unforeseen incremental impact from Covid on the business.
- Submission of clinical data for STAAR’s EVO family of myopia lenses remains under customary interactive FDA review.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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