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STAA

STAAR Surgical Company

STAA

STAAR Surgical Company • NASDAQ
$26.54 ▲ 1.96% (+0.51)
Market Cap $1.31 B
52w High $30.81
52w Low $13.50
Dividend Yield 0%
P/E -13.54
Volume 159.13K
Outstanding Shares 49.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $94.732M ▼ $59.385M ▼ $8.884M ▲ 9.378% ▲ $0.18 ▲ $26.442M ▲
Q3-2025 $44.32B ▲ $57.515B ▲ $-16.812B ▼ -37.933% $-0.34 $0 ▲
Q2-2025 $44.32M ▲ $62.763M ▼ $-16.812M ▲ -37.933% ▲ $-0.34 ▲ $-22.741M ▲
Q1-2025 $42.589M ▼ $85.406M ▲ $-54.211M ▼ -127.289% ▼ $-1.1 ▼ $-32.4M ▼
Q4-2024 $48.95M $59.558M $-34.228M -69.924% $-0.69 $-25.535M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $192.66M ▼ $456.362M ▼ $102.582M ▼ $353.78M ▼
Q3-2025 $189.883B ▲ $437.781B ▲ $101.208B ▲ $336.573B ▲
Q2-2025 $189.883M ▼ $437.781M ▼ $101.208M ▼ $336.573M ▼
Q1-2025 $222.761M ▼ $457.364M ▼ $107.392M ▼ $349.972M ▼
Q4-2024 $230.494M $509.524M $112.189M $397.335M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $8.884M ▼ $2.667M ▼ $5.283M ▲ $983K ▲ $9.024M ▲ $1.784M ▲
Q3-2025 $70.952M ▲ $32.956M ▲ $0 ▼ $0 ▲ $-22.978M ▼ $0 ▲
Q2-2025 $-16.812M ▲ $-27.249M ▼ $25.12M ▼ $-4.54M ▼ $-5.983M ▼ $-29.041M ▼
Q1-2025 $-54.211M ▼ $-5.734M ▼ $35.351M ▲ $-948K ▼ $28.955M ▲ $-7.202M ▼
Q4-2024 $-34.228M $642K $-19.495M $-110K $-19.844M $-5.083M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q1-2025
Implantable Collamer Lenses
Implantable Collamer Lenses
 $100.00M ▲$90.00M ▼$150.00M ▲$40.00M ▼
Other Surgical Products
Other Surgical Products
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the last several years, but more recently it has flattened out and even slipped a bit. Profitability followed a similar arc: the company moved from small profits to healthier margins, then slipped back into a modest loss in the most recent year. Gross margins remain high, which suggests good pricing power and a premium product, but rising operating costs (likely from commercialization, marketing, and R&D) are now outweighing that strength. In short, it looks like a high‑margin business that is currently spending heavily and is in a transition phase where growth and profits are not moving in sync.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid and conservative. Total assets and shareholders’ equity have steadily increased, indicating that the company has been building its base of productive assets over time. Cash levels have moved around but remain meaningful, while debt is quite low relative to total assets and equity. This combination points to a company that is not overly reliant on borrowing and has some cushion to support ongoing investment and short‑term volatility in earnings.

Cash Flow

Cash Flow Operating cash flow has been consistently positive, which is encouraging and shows that the core business does generate cash even when accounting profits dip. However, the cash produced is not large relative to spending needs, and steady capital investments mean that free cash flow has been modest and recently turned slightly negative. This pattern is typical of a company still investing for growth: cash is being recycled back into the business rather than accumulating on the balance sheet.

Competitive Edge

Competitive Edge STAAR operates in a specialized corner of ophthalmology with a differentiated lens technology that directly competes with laser vision correction rather than traditional lenses. Its long operating history, specialized manufacturing, patents around its lens material and design, and regulatory approvals in key markets give it meaningful barriers to entry. The product’s clinical profile—reversibility, preservation of the cornea, and suitability for patients who are poor LASIK candidates—helps it stand out and supports strong pricing. At the same time, the company faces execution risk in scaling adoption against well‑entrenched LASIK procedures and larger eye‑care players, and it has historically been sensitive to trends in specific geographies such as China.

Innovation and R&D

Innovation and R&D Innovation is the core of STAAR’s story. The EVO ICL platform, built on its proprietary Collamer material, represents a clear technological shift from tissue‑removing laser surgery to an additive, reversible implant. The company continues to refine this platform with newer versions and delivery improvements, while also pushing into new clinical needs like age‑related near‑vision loss with products such as EVO Viva. R&D spending and product development appear focused and clinically driven rather than scattered. The proposed merger with a major eye‑care company, Alcon, could further amplify innovation by pairing STAAR’s technology engine with a much larger global commercial and R&D infrastructure, though integration and strategic alignment will be key uncertainties.

Summary

STAAR Surgical combines a premium, patented vision‑correction technology with a reasonably strong and low‑debt balance sheet, but its recent financials show the strain of heavy investment and uneven growth. The business generates high gross margins and positive operating cash flow, suggesting underlying economic strength, yet profits have recently slipped into a small loss as spending has risen ahead of revenue. Its competitive position is rooted in a differentiated clinical approach versus LASIK, strong brand satisfaction, and regulatory approvals, but it still needs to broaden adoption and manage geographic and competitive risks. Ongoing innovation around the EVO lens family and presbyopia solutions, together with the potential leverage of Alcon’s scale, present meaningful long‑term opportunities, balanced by execution, integration, and market‑adoption uncertainties in the near to medium term.

NEWS

November 10, 2025 · 8:00 AM UTC

Broadwood Partners Calls for the Appointment of New Directors at STAAR Surgical to Oversee Go-Shop Process

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November 7, 2025 · 10:10 AM UTC

STAAR Surgical Announces Amendments to Alcon Merger Agreement

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November 6, 2025 · 6:21 AM UTC

Yunqi Capital Applauds STAAR Surgical's Strong Third Quarter Results and Reiterates That the Proposed Sale to Alcon Should Be Terminated

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November 5, 2025 · 4:01 PM UTC

STAAR Surgical Reports Third Quarter 2025 Results

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November 4, 2025 · 11:52 AM UTC

Broadwood Partners Condemns Alcon's Fallacious Attacks on STAAR Surgical and Its Prospects

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