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STAAR Surgical Company
STAAR Surgical Company (STAA) investor relations material
STAAR Surgical Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary3 Mar, 2026
Executive summary
2025 was a year of transition with leadership changes, cost reductions, and operational restructuring following the terminated Alcon merger.
Q4 2025 net sales rose 18.1% year-over-year to $57.8 million, driven by a rebound in China, while net sales excluding China fell 2.1%.
Fiscal year 2025 net sales declined 23.7% year-over-year to $239.4 million, mainly due to inventory reductions in China; excluding China, sales grew 6.6%.
The company is focused on growth, profitability, and innovation for 2026, with optimism for improved performance in China and globally.
Expanded product indications and new launches, such as EVO+ in China and the LIOLI injector in EMEA, are expected to drive future growth.
Financial highlights
Q4 2025 net sales were $57.8M, up from $49M in Q4 2024, driven by a rebound in China and growth in the Americas and APAC ex-China.
China net sales in Q4 2025 were $17.5M, up from $7.8M in Q4 2024, despite inventory returns and distributor uncertainty.
Gross margin for Q4 2025 was 75.7%, up from 64.7% in the prior year quarter, and remained stable at 76.2% for the year.
Adjusted EBITDA was breakeven in Q4 2025 and a loss of $6.6M for the year, compared to positive $23.2M in 2024.
Ended Q4 2025 with $187.5M in cash equivalents and no debt.
Outlook and guidance
No formal financial guidance for 2026, but management targets significant sales growth and a return to profitability.
Expect modest growth in China net sales in 2026, driven by higher ASPs and market share gains.
Gross margin expected to be slightly lower in 2026 due to higher Swiss manufacturing costs and increased inventory reserves, with improvements anticipated in 2027.
Cash generation expected to resume in the second half of 2026, ending the year with a higher cash balance.
Optimism for business performance in 2026, with focus on sustainable profitability and growth.
What specific actions drive 2026 China sales growth?
How will operating expenses be managed in 2026?
Explain Q4 ex-China sales decline drivers
China inventory controls prevent future buildups?
Beyond EVO+, what's next in the pipeline?
US growth strategy for lower diopter patients
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Next STAAR Surgical Company earnings date
Q1 20266 May, 2026
STAAR Surgical Company
Next STAAR Surgical Company earnings date
Q1 20266 May, 2026
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Frequently asked questions
STAAR Surgical Company’s products include STAAR Visian ICL, an implantable collamer lens used to correct myopia; Toric ICL, which correct astigmatism; and Visian ICL with advanced technology (ICL) platform for the correction of myopia in adults. It also offers highly refined injector systems that assist ophthalmologists with the delivery of its implantable lenses into their patient’s eye. The company sells its products directly or through distributors primarily in Asia, Europe, Latin America, the Middle East, and Africa. STAAR Surgical Company was founded in 1985 and is headquartered in Monrovia, California.
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