8-K: STAAR Surgical to Announce Q4 and Fiscal Year 2024 Results on February 19

STAAR Surgical will release its Q4 and fiscal year 2024 financial results on February 19, 2025, after market close, and will host a webcast to discuss the results and 2025 outlook.

Summary

• STAAR Surgical plans to release its financial results for the fourth quarter and fiscal year ended December 27, 2024, on or about Wednesday, February 19 after the market close.
• The company will host an earnings webcast on February 19, 2025, at 4:30 p.m. ET / 1:30 p.m. PT to discuss its financial results and operational progress.
• A replay of the webcast will be available on February 19, 2025, at approximately 8:00 p.m. Eastern for at least 90 days.
• STAAR Surgical achieved double-digit year-over-year ICL sales growth globally in fiscal 2024, with the exception of China.
• Economic conditions and lower consumer confidence persist in China.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The company is announcing the date of its earnings call and highlighting strong ICL sales growth outside of China. However, there are concerns about economic conditions in China.

Positives

• STAAR Surgical achieved double-digit year-over-year ICL sales growth globally in fiscal 2024, excluding China.
• The company is taking steps to inform investors, including a webcast and replay.

Negatives

• Economic conditions and lower consumer confidence persist in China, impacting sales growth.

Risks

• Global economic conditions could cause actual results to differ materially from forward-looking statements.
• Regulatory agencies have the discretion to approve or reject existing, new or improved products.
• International trade disputes and substantial dependence on demand from Asia pose risks.
• The willingness of surgeons and patients to adopt a new or improved product and procedure is uncertain.

Future Outlook

The company will provide its 2024 results and 2025 outlook during the upcoming earnings call.

Management Comments

• Tom Frinzi, Chair of the Board and CEO of STAAR Surgical, stated that the company's industry-leading EVO ICL technology and market-building initiatives supported double-digit year-over-year ICL sales growth globally in fiscal 2024, with the exception of China.
• Tom Frinzi noted that the pervasive and well-documented economic conditions and lower levels of consumer confidence persist in China.

Industry Context

The announcement highlights the importance of the Chinese market for STAAR Surgical and the impact of economic conditions on consumer confidence and demand for elective procedures like vision correction.

Comparison to Industry Standards

• It is difficult to compare STAAR Surgical's ICL sales growth directly to industry standards without knowing the specific growth rates of its competitors in the phakic IOL market.
• Companies like Alcon and Johnson & Johnson Vision also operate in the broader vision correction market, but their product portfolios are more diversified.
• Comparing STAAR's growth in specific regions outside of China to the overall growth of the refractive surgery market in those regions could provide a benchmark.

Stakeholder Impact

• Shareholders will be interested in the financial results and outlook provided during the earnings call.
• The announcement provides information relevant to investors and analysts following the company.

Next Steps

• STAAR Surgical will release its financial results on February 19, 2025.
• The company will host an earnings webcast on February 19, 2025, at 4:30 p.m. ET / 1:30 p.m. PT.

Key Dates