STAAR Surgical Company
- Open
- 23.21
- Day high
- 23.36
- Day low
- 22.82
- Prev close
- 23.26
- Volume
- 90K
- Mkt cap
- $1.2B
- P/E (TTM)
- 289.8
- EPS (TTM)
- $0.08
- P/B
- 3.2
- P/S
- 3.4
- Yield
- —
- Per share
- —
STAAR Surgical Company (STAA) is a Healthcare company listed on NASDAQ. The stock is down 16% over the past year. Drillr has 1 published research article covering STAA.
STAAR Surgical Company (STAA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
STAA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 12, 2026 | $0.22 | $0.16 | -27.7% | $94M | +3.2% |
| May 13, 2026 | $0.05 | $0.38 | +600.8% | $94M | +18.8% |
| Mar 3, 2026 | $0.18 | $-0.20 | -211.1% | $58M | -22.9% |
| Nov 5, 2025 | $0.18 | $0.46 | +155.6% | $95M | +25.4% |
| Aug 6, 2025 | $-0.56 | $-0.07 | +87.5% | $44M | -50.3% |
| May 7, 2025 | $-0.59 | $-0.52 | +11.9% | $43M | +5.7% |
| Oct 30, 2024 | $0.19 | $0.37 | +94.7% | $89M | +13.8% |
| Feb 26, 2024 | $0.19 | $0.24 | +26.3% | $76M | +0.5% |
| Nov 1, 2023 | $0.20 | $0.30 | +50.0% | $80M | -0.0% |
| Aug 2, 2023 | $0.32 | $0.40 | +25.0% | $92M | -0.2% |
| May 3, 2023 | $0.11 | $0.18 | +63.6% | $74M | +9.8% |
| Feb 21, 2023 | $0.05 | $0.12 | +140.0% | $64M | -0.1% |
STAA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 18, 2026 | Michna Magdaofficer: Chief Development Officer | Option | 5,499 | — |
| Aug 18, 2026 | Michna Magdaofficer: Chief Development Officer | Option | 1,100 | $26.18 |
| Aug 18, 2026 | Michna Magdaofficer: Chief Development Officer | Tax | 2,797 | $26.18 |
| Aug 18, 2026 | Michna Magdaofficer: Chief Development Officer | Tax | 559 | $26.18 |
| Aug 18, 2026 | Foust Warrenofficer: President and CEO | Grant | 131,830 | $26.18 |
| Aug 18, 2026 | ANDREWS DEBORAH Jofficer: Chief Financial Officer & EVP | Grant | 29,159 | $26.18 |
| Aug 18, 2026 | Foust Warrenofficer: President and CEO | Option | 7,331 | — |
| Aug 18, 2026 | ANDREWS DEBORAH Jofficer: Chief Financial Officer & EVP | Option | 5,233 | — |
| Aug 18, 2026 | ANDREWS DEBORAH Jofficer: Chief Financial Officer & EVP | Tax | 2,662 | $26.18 |
| Aug 18, 2026 | Foust Warrenofficer: President and CEO | Grant | 40,471 | $26.18 |
| Aug 18, 2026 | Foust Warrenofficer: President and CEO | Tax | 3,730 | $26.18 |
| Aug 18, 2026 | ANDREWS DEBORAH Jofficer: Chief Financial Officer & EVP | Grant | 8,952 | $26.18 |
| Aug 18, 2026 | Foust Warrenofficer: President and CEO | Grant | 22,493 | — |
| Aug 18, 2026 | Foust Warrenofficer: President and CEO | Grant | 123,659 | $26.18 |
| Aug 18, 2026 | ANDREWS DEBORAH Jofficer: Chief Financial Officer & EVP | Grant | 4,975 | — |
Source: STAA SEC Form 4 filings, latest Aug 18, 2026. For informational purposes only — not investment advice.
See the full STAA insider & 13F page →STAAR Surgical Company company profile
Overview
STAAR Surgical Company (NASDAQ:STAA) is a California-based medical device company founded in 1982 and publicly traded since 1992. The company specializes in designing, developing, manufacturing and marketing implantable lenses for vision correction procedures. STAAR has established itself as a leading player in the refractive surgery market, with particular strength in the implantable collamer lens (ICL) segment. The company operates globally with direct sales operations in major markets including the United States, Japan, Germany, Spain, Canada, the United Kingdom, and Singapore, while serving other international markets through distributors and representatives.
Business
STAAR Surgical operates in the ophthalmology medical device industry, specifically focusing on refractive surgery solutions - procedures that correct vision problems as an alternative to glasses or contact lenses. The company's core business revolves around implantable lenses that are surgically placed inside the eye to correct various vision disorders. The company's primary product is the Visian Implantable Collamer Lens (ICL) family, which treats common vision problems including myopia (nearsightedness), hyperopia (farsightedness), astigmatism, and presbyopia (age-related reading difficulty). Unlike LASIK surgery which permanently reshapes the cornea, ICL procedures involve placing a soft, biocompatible lens between the iris and natural lens of the eye. This lens works in conjunction with the eye's natural lens to focus light properly on the retina, correcting vision while preserving the eye's natural structure. The procedure is reversible, making it attractive to patients who want vision correction without permanent alteration of their corneal tissue. STAAR also manufactures cataract intraocular lenses and delivery systems used in cataract surgery, where the eye's clouded natural lens is replaced with an artificial lens. Additionally, the company produces various surgical instruments, injector systems, and related devices used by ophthalmologists during these procedures. The ICL business represents the vast majority of STAAR's revenue, with the company estimating that ICL sales constitute approximately 85-90% of total revenue. The remaining 10-15% comes from cataract-related products and surgical instruments. The company's EVO ICL product line represents the latest generation of their technology, featuring improved design and expanded treatment ranges.
Revenue model
STAAR Surgical generates revenue primarily through direct product sales to healthcare providers, including ophthalmic surgeons, vision centers, surgical centers, hospitals, and government facilities. The company sells its lenses and surgical instruments at premium prices, reflecting the specialized nature of the products and the significant research and development investment required. The company's customers are primarily ophthalmologists and refractive surgeons who purchase lenses for individual patient procedures. STAAR typically sells lenses on a per-procedure basis, with pricing varying by geographic market and product type. In developed markets like the United States, Europe, and Japan, lens prices are higher, reflecting greater purchasing power and premium positioning. In emerging markets like China and India, the company employs volume-based pricing strategies to build market penetration. Several factors influence STAAR's profitability margins. Positive margin drivers include the company's proprietary Collamer material technology, which provides differentiation from competitors and supports premium pricing. The growing global myopia epidemic, particularly in Asia, expands the addressable market. Increasing surgeon adoption and patient awareness of ICL procedures as an alternative to LASIK also supports volume growth. The company's direct sales model in key markets allows for better margin control compared to distributor-dependent models. Margin pressures come from several sources. Economic downturns, particularly in key markets like China, can reduce elective procedure volumes as patients delay non-essential surgeries. Competitive pressure from new market entrants, including local manufacturers in China, may force pricing concessions. Currency fluctuations affect international revenue when translated back to USD. Additionally, the company's significant investment in sales force expansion, surgeon training programs, and market development activities in the United States represents ongoing operating expense pressure as they build market share in this strategic market.
Competitive moat
STAAR Surgical possesses a moderate but narrowing competitive moat built primarily on technological differentiation and market positioning advantages. The company's core moat stems from its proprietary Collamer material, a biocompatible collagen-based polymer that has been refined over decades. This material offers superior optical properties and biocompatibility compared to alternatives, and STAAR holds key patents around its composition and manufacturing process. The company also benefits from regulatory barriers and clinical data advantages. STAAR has extensive clinical data supporting the safety and efficacy of its ICL products, with over 2 million lenses implanted globally. This clinical history provides credibility with surgeons and regulatory bodies, making it difficult for new entrants to quickly establish equivalent clinical evidence. The regulatory approval process for new ophthalmic implants is lengthy and expensive, creating some barriers to entry. However, STAAR's moat faces increasing challenges. Patent expirations over time will reduce the company's exclusive position on key technologies. New competitors are emerging, particularly in the Chinese market where local manufacturers like iBright are developing competing ICL products. These competitors may offer lower-priced alternatives that could pressure STAAR's market share and pricing power. The company's surgeon relationship and training infrastructure provides some defensive positioning, as ophthalmologists require specialized training to perform ICL procedures safely. STAAR has invested heavily in surgeon education and certification programs, creating switching costs for trained physicians. However, this advantage diminishes as the overall market grows and more surgeons become trained on multiple platforms. The refractive surgery market itself remains vulnerable to technological disruption from alternative vision correction approaches, including advances in LASIK technology, pharmaceutical treatments for myopia, or entirely new surgical techniques that could reduce demand for implantable lenses.
Risks & safety
STAAR Surgical presents a moderate margin of safety with strong liquidity but concerning profitability trends and elevated valuation metrics. **Liquidity and Solvency:** - Strong cash position of $173 million with minimal debt (debt-to-equity ratio of 0.10) - Excellent current ratio of 4.78 indicating strong short-term liquidity - Negative free cash flow of -$7.2 million in Q1 2025, though this represents improvement from operational challenges - No immediate solvency concerns given substantial cash reserves **Profitability Concerns:** - Company posted negative net income of -$54.2 million in Q1 2025 - Negative EBITDA of -$71.1 million reflects significant operational challenges - Management targeting return to profitability in second half of 2025 **Valuation Metrics:** - Trading at negative P/E ratio due to current losses - Price-to-book ratio of 2.51 suggests modest premium to book value - EV/EBITDA not meaningful due to negative EBITDA - Graham Net-Net ratio of 3.47 indicates stock trading below liquidation value **Other Considerations:** - Revenue volatility particularly exposed to China market conditions - High operating leverage means profitability sensitive to volume changes - Strong balance sheet provides runway to weather current operational challenges
Recent development
Over the past few years, STAAR Surgical has undergone significant strategic and operational changes in response to market challenges and growth opportunities. The company has implemented a major organizational restructuring, promoting Warren Faust to President and bringing back Deborah Andrews as Interim CFO while creating a new Chief Development Officer role to streamline decision-making and improve operational efficiency. The company's China strategy has evolved significantly due to macroeconomic pressures and trade considerations. STAAR has shifted from a traditional sales model to consignment inventory agreements to mitigate tariff risks and is preparing its Swiss manufacturing facility to reduce tariff exposure. The company expects normalized sales in China by Q3 2025 and anticipates approval of its next-generation EVO+ lens in China by mid-summer 2025. In the United States market, STAAR has implemented its "Highway 93" and "Fast Lane" strategies, focusing on high-volume surgeon practices and strategic partnerships. The company has signed multiple Fast Lane agreements with key practices and significantly expanded its sales force and marketing investments. Despite overall U.S. refractive surgery market declines, STAAR has achieved strong growth by taking market share from LASIK procedures. Product development initiatives include the launch of new technologies such as the Stella ICL ordering system, AI-based protocols for measurement and lens selection, and the opening of a new EVO ICL Experience Center in California. The company is preparing to launch intermediate lens sizes and the EVO+ product line, which will expand treatment options for surgeons and patients. STAAR has also implemented significant cost reduction measures, targeting a reduction in SG&A expenses to approximately $225 million annually by year-end 2025, representing a return to 2023 spending levels while maintaining market investment commitments.
STAA company profile · for informational purposes only — not investment advice.
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