The following is a summary of the STAAR Surgical Company (STAA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• STAAR Surgical reported Q3 2024 net sales of $88.6 million reflecting a 10% increase year-over-year.

• Gross profit reached $68.5 million or 77.3% of net sales.

• GAAP net income for Q3 2024 was $10 million, demonstrating growth from $4.8 million in the prior year.

• Adjusted EBITDA for Q3 2024 was $16.2 million or $0.33 per diluted share, maintaining a stable performance compared to $16.5 million or $0.33 per diluted share in the prior year.

Business Progress:

• STAAR opened a new EVO ICL Experience Center to enhance training and educational programs.

• Achieved significant market share gains and global sales growth despite a challenging macroeconomic environment.

• Hosted numerous international training programs and participated actively in industry events to bolster market presence and adoption of EVO ICL lenses.

Opportunities:

• The company reported strong global adoption and market share gains of EVO ICL lenses, which positions it favorably in the expanding market.

• Positive market reception and increased market share in the Americas, EMEA, and APAC regions.

• Plans to launch at least 10 programs at the new center of excellence by year-end, aiming to bolster EVO ICL adoption and surgeon training.

Risks:

• Sales in China softened in Q3 due to a declining macroeconomic environment, impacting overall momentum for that period.

• The U.S. refractive market was more challenging than anticipated, with broader market conditions being down year-over-year.

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