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Dec 30, 2022
STAAR Surgical Q4 2022 Earnings Report
STAAR Surgical's Q4 2022 earnings reflected growth in net sales and ICL sales, with ICL unit growth driven by U.S. and China.
Key Takeaways
STAAR Surgical reported a 9% increase in net sales to $64.0 million for Q4 2022, driven by a 15% increase in ICL sales and a 20% increase in ICL unit growth. The company's net income increased to $0.12 per share, and they reaffirmed their outlook for strong growth in 2023.
Net sales increased by 9% to $64.0 million, with constant currency net sales up 15% from the prior year quarter.
ICL sales increased by 15% to $61.2 million, with constant currency ICL sales up 21% from the prior year quarter.
ICL units increased by 20% from the prior year quarter, with U.S. units up 109% and China units up 18%.
Net income was $0.12 per share, compared to $0.10 per share in the prior year quarter.
Revenue by Segment
Forward Guidance
STAAR Surgical anticipates total ICL sales of approximately $340 million for fiscal year 2023, representing a 26% year-over-year growth.
Positive Outlook
- Increased investment to accelerate consumer awareness.
- Increased investment to accelerate surgeon confidence.
- Increased investment to accelerate adoption of EVO ICL family of lenses.
- Continuing industry leading position as a high growth company.
- Continuing industry leading position as a profitable ophthalmic medical device company.
Challenges Ahead
- Global economic conditions
- The impact of the COVID-19 pandemic on markets
- The discretion of regulatory agencies to approve or reject existing, new or improved products, or to require additional actions before approval, or to take enforcement action
- International trade disputes
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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