STAAR SURGICAL CO Files 10-Q for Period Ending March 29, 2024

TL;DR

<b>STAAR SURGICAL CO filed its Q1 2024 10-Q report on May 7, 2024, detailing financial performance and balance sheet information.</b>

AI Summary

STAAR SURGICAL CO (STAA) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. STAAR SURGICAL CO filed a 10-Q report on May 7, 2024, for the period ending March 29, 2024. The filing covers financial information for the first quarter of the fiscal year. Key financial statement items and balance sheet accounts are detailed for the periods ending March 31, 2024, and December 31, 2023. Specific balance sheet accounts such as Retained Earnings, Common Stock, and various investment securities are reported. The company's business address is 1911 Walker Ave, Monrovia, CA 91016, with a phone number of 626-303-7902.

Why It Matters

For investors and stakeholders tracking STAAR SURGICAL CO, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, crucial for assessing the company's performance and financial health. The detailed breakdown of assets, liabilities, and equity, along with specific segment information, allows for a deeper understanding of the company's operational and financial standing.

Risk Assessment

Risk Level: medium — STAAR SURGICAL CO shows moderate risk based on this filing. The company's financial performance is subject to market dynamics and operational execution, as indicated by the detailed financial statements and risk factor disclosures typically found in a 10-Q filing.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue drivers and cost structures for Q1 2024.

Key Numbers

• 2024-03-29 — Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 10-Q — Form Type (Filing type)
• 000-11634 — SEC File Number (SEC file number)
• 24921951 — Film Number (Film number)
• 1911 Walker Ave — Street Address (Business address)
• Monrovia — City (Business address)
• CA — State (Business address)

Key Players & Entities

• STAAR SURGICAL CO (company) — Filer name
• 2024-03-29 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• Monrovia, CA (location) — Business address city and state
• 626-303-7902 (phone_number) — Business phone
• 3851 (sic_code) — Standard Industrial Classification
• DE (state) — State of incorporation
• 19920703 (date) — Date of former company name change

FAQ

Key Dates

• 2024-05-07: 10-Q Filing — Reported for the period ending March 29, 2024.

Key Financial Figures

• $0.01 — 1,110 shares of common stock, par value $0.01 per share, issued and outstanding as of

Filing Documents

• staa-20240329.htm (10-Q) — 1562KB
• staa-ex31_1.htm (EX-31.1) — 13KB
• staa-ex31_2.htm (EX-31.2) — 13KB
• staa-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-24-054488.txt (&nbsp;) — 7959KB
• staa-20240329.xsd (EX-101.SCH) — 1073KB
• staa-20240329_htm.xml (XML) — 1613KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 1 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 16 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 21 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 21

– OTHER INFORMATION

PART II – OTHER INFORMATION 21 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 21 ITEM 1A.

RISK FACTORS

RISK FACTORS 21 ITEM 4. MINE SAFETY DISCLOSURES 22 ITEM 5. OTHER INFORMATION 22 ITEM 6. EXHIBITS 22

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

FINANCI AL STATEMENTS

ITEM 1. FINANCI AL STATEMENTS STAAR SURGICAL COMPANY CONDENSED CONSOLIDA TED BALANCE SHEETS (In thousands, except par value amounts) (Unaudited) March 29, 2024 December 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 224,024 $ 183,038 Investments available for sale 21,125 37,688 Accounts receivable trade, net of allowance for credit losses of $ 187 and $ 191 , respectively 64,604 94,704 Inventories, net 38,581 35,130 Prepayments, deposits and other current assets 17,381 14,709 Total current assets 365,715 365,269 Investments available for sale 6,963 11,703 Property, plant and equipment, net 72,337 66,835 Finance lease right-of-use assets, net 146 183 Operating lease right-of-use assets, net 34,600 34,387 Goodwill 1,786 1,786 Deferred income taxes 5,125 5,190 Other assets 5,863 3,339 Total assets $ 492,535 $ 488,692 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 16,560 $ 13,557 Obligations under finance leases 166 165 Obligations under operating leases 4,403 4,202 Allowance for sales returns 6,284 6,174 Other current liabilities 35,261 40,938 Total current liabilities 62,674 65,036 Obligations under finance leases — 42 Obligations under operating leases 31,126 31,425 Deferred income taxes 1,074 1,077 Asset retirement obligations 96 103 Pension liability 4,777 5,055 Total liabilities 99,747 102,738 Commitments and contingencies Stockholders' equity: Common stock, $ 0.01 par value; 60,000 shares authorized: 49,120 and 48,839 shares issued and outstanding at March 29, 2024 and December 29, 2023, respectively 491 488 Additional paid-in capital 447,716 436,947 Accumulated other comprehensive income (loss) ( 4,712 ) ( 4,113 ) Accumulated deficit ( 50,707 ) ( 47,368 ) Total stockholders' equity 392,788 385

View Full Filing

View this 10-Q filing on SEC EDGAR