STAAR Surgical Company (STAA) Stifel 2026 Virtual Ophthalmology Forum summary

China market trends and performance

• China refractive procedure volumes stabilized in 2025 after declines in 2024, with mid-single digit growth expected in 2025 and Q1 2026 showing strong results driven by both price and volume gains.

• Q1 2026 was described as a clean quarter, with sales reflecting true in-market demand and minimal inventory effects; military conscription timing has shifted seasonality, pulling forward some demand.

• Q2 2026 in China is expected to be similar to Q1, with less pronounced seasonal step-up due to changing patterns; Q3 may see a volume dip, and Q4 remains the weakest quarter.

• Military conscription indirectly impacts ICL demand as hospitals compete for candidates, some of whom become ICL patients due to clinical factors.

• Distributors are preparing for the summer high season, with new EVO+ product introduction adding complexity and opportunity; demand signals are positive but closely monitored.

Global and ex-China outlook

• Ex-China markets saw broad-based growth in Q1 2026, with double-digit gains in most regions except the Middle East and India, though macro and geopolitical risks persist.

• Seasonality differs by region: China sees increased procedures in summer, while the U.S. and Europe experience declines, partially offsetting each other in global sales.

• For 2026, mid-single digit growth ex-China is a reasonable expectation, but caution remains due to external uncertainties.

Innovation and strategic initiatives

• Near-term innovation focus is on successful EVO+ launch in China and ERP system modernization to drive efficiency and future growth.

• Longer-term innovation includes expanding Collamer-based products, exploring new indications like presbyopia, and developing next-generation delivery systems.

• Plans to share a more detailed innovation roadmap by year-end.