STAAR Surgical Co. Files 10-Q for Q2 2024

TL;DR

**STAAR SURGICAL 10-Q FILED: Q2 2024 FINANCIALS OUT - EYE SURGERY PRODUCTS SHOWING GROWTH.**

AI Summary

STAAR Surgical Company filed its 10-Q for the period ending June 28, 2024. The filing details financial performance and operational updates. Key financial data and business segments are presented, with a focus on their ophthalmic goods, specifically intraocular lenses and other surgical products.

Why It Matters

This filing provides investors with an update on STAAR Surgical's financial health and operational performance for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The company operates in a specialized medical device market with regulatory and competitive risks, and its performance is tied to global healthcare trends.

Key Numbers

• 2024-06-28 — End of Reporting Period (The 10-Q covers financial results up to this date.)
• 2024-08-07 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• STAAR SURGICAL CO (company) — Filer of the 10-Q
• 20240628 (date) — End of the reporting period
• 20240807 (date) — Filing date of the 10-Q
• OPHTHALMIC GOODS [3851] (industry) — Company's Standard Industrial Classification
• CN (country) — China, mentioned in geographic distribution
• JP (country) — Japan, mentioned in geographic distribution

FAQ

Key Financial Figures

• $0.01 — 8,211 shares of common stock, par value $0.01 per share, issued and outstanding as of

Filing Documents

• staa-20240628.htm (10-Q) — 2175KB
• staa-ex31_1.htm (EX-31.1) — 13KB
• staa-ex31_2.htm (EX-31.2) — 13KB
• staa-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-24-092753.txt ( ) — 9574KB
• staa-20240628.xsd (EX-101.SCH) — 1084KB
• staa-20240628_htm.xml (XML) — 2119KB

– 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 17 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 22 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 22

– OTHER INFORMATION

PART II – OTHER INFORMATION 23 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 23 ITEM 1A.

RISK FACTORS

RISK FACTORS 23 ITEM 4. MINE SAFETY DISCLOSURES 23 ITEM 5. OTHER INFORMATION 23 ITEM 6. EXHIBITS 24

– 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) June 28, 2024 December 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 192,776 $ 183,038 Investments available for sale 42,424 37,688 Accounts receivable trade, net of allowance for credit losses of $ 184 and $ 191 , respectively 93,800 94,704 Inventories, net 39,282 35,130 Prepayments, deposits and other current assets 15,535 14,709 Total current assets 383,817 365,269 Investments available for sale 265 11,703 Property, plant and equipment, net 77,500 66,835 Finance lease right-of-use assets, net 109 183 Operating lease right-of-use assets, net 34,971 34,387 Goodwill 1,786 1,786 Deferred income taxes 5,078 5,190 Other assets 9,219 3,339 Total assets $ 512,745 $ 488,692 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 19,059 $ 13,557 Obligations under finance leases 125 165 Obligations under operating leases 4,648 4,202 Allowance for sales returns 7,225 6,174 Other current liabilities 35,113 40,938 Total current liabilities 66,170 65,036 Obligations under finance leases — 42 Obligations under operating leases 31,499 31,425 Deferred income taxes 1,056 1,077 Asset retirement obligations 109 103 Pension liability 4,808 5,055 Total liabilities 103,642 102,738 Commitments and contingencies Stockholders' equity: Common stock, $ 0.01 par value; 60,000 shares authorized: 49,161 and 48,839 shares issued and outstanding at June 28, 2024 and December 29, 2023, respectively 492 488 Additional paid-in capital 457,402 436,947 Accumulated other comprehensive income (loss) ( 5,463 ) ( 4,113 ) Accumulated deficit ( 43,328 ) ( 47,368 ) Total stockholders' equity 409,103 385,9

View Full Filing

View this 10-Q filing on SEC EDGAR