STAAR Surgical Co. Files Q3 2024 10-Q
Ticker: STAA · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 718937
| Field | Detail |
|---|---|
| Company | Staar Surgical Co (STAA) |
| Form Type | 10-Q |
| Filed Date | Oct 30, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, ophthalmic goods, stock-based compensation
TL;DR
**STAAR SURGICAL 10-Q FILED: Q3 2024 FINANCIALS & OPERATIONAL DETAILS OUT.**
AI Summary
STAAR Surgical Co. filed its 10-Q for the period ending September 27, 2024. The filing details financial performance and operational updates. Key financial data and disclosures related to stock-based compensation, geographic sales distribution, and fair value measurements are included.
Why It Matters
This filing provides investors with an update on STAAR Surgical's financial health and operational performance for the third quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: medium — The filing contains detailed financial information and disclosures that could reveal performance trends or risks impacting the company's valuation.
Key Numbers
- 2024-09-27 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 2024-10-30 — 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
- 2024-09-27 (date) — End of the reporting period
- 2024-10-30 (date) — Filing date
- Monrovia, CA (location) — Company headquarters
FAQ
What is the primary business of STAAR Surgical Co. as indicated by its SIC code?
STAAR Surgical Co. is classified under SIC code 3851, which corresponds to 'OPHTHALMIC GOODS'.
What is the fiscal year end for STAAR Surgical Co.?
The company's fiscal year ends on December 30th.
What specific types of stock-based compensation are mentioned in the filing?
The filing mentions 'PerformanceShares', 'UnvestedRestrictedStock', and 'EmployeeStockOption' under the 'OmnibusPlan'.
Does the filing provide geographic sales distribution data?
Yes, the filing includes data for 'us-gaap:GeographicDistributionForeignMember' with country code 'CN' and 'staa:OtherCountriesMember', as well as 'us-gaap:GeographicDistributionDomesticMember'.
What are the dates for the comparative periods mentioned for financial reporting?
The filing references periods such as 2023-12-30 to 2024-09-27, and also includes data points from 2023-07-01 to 2023-09-29 and 2022-12-30.
Filing Stats: 4,354 words · 17 min read · ~15 pages · Grade level 19.9 · Accepted 2024-10-30 16:08:13
Key Financial Figures
- $0.01 — 5,875 shares of common stock, par value $0.01 per share, issued and outstanding as of
Filing Documents
- staa-20240927.htm (10-Q) — 2161KB
- staa-ex31_1.htm (EX-31.1) — 14KB
- staa-ex31_2.htm (EX-31.2) — 14KB
- staa-ex32_1.htm (EX-32.1) — 14KB
- 0000950170-24-118973.txt ( ) — 9555KB
- staa-20240927.xsd (EX-101.SCH) — 1084KB
- staa-20240927_htm.xml (XML) — 2121KB
– 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) September 27, 2024 December 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 164,003 $ 183,038 Investments available for sale 71,955 37,688 Accounts receivable trade, net of allowance for credit losses of $ 178 and $ 191 , respectively 104,510 94,704 Inventories, net 40,361 35,130 Prepayments, deposits and other current assets 16,277 14,709 Total current assets 397,106 365,269 Investments available for sale — 11,703 Property, plant and equipment, net 81,580 66,835 Finance lease right-of-use assets, net 73 183 Operating lease right-of-use assets, net 37,897 34,387 Goodwill 1,786 1,786 Deferred income taxes 5,324 5,190 Other assets 13,824 3,339 Total assets $ 537,590 $ 488,692 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 14,694 $ 13,557 Obligations under finance leases 84 165 Obligations under operating leases 4,531 4,202 Allowance for sales returns 8,124 6,174 Other current liabilities 38,908 40,938 Total current liabilities 66,341 65,036 Obligations under finance leases — 42 Obligations under operating leases 35,385 31,425 Deferred income taxes 1,056 1,077 Asset retirement obligations 127 103 Pension liability 6,559 5,055 Total liabilities 109,468 102,738 Commitments and contingencies Stockholders' equity: Common stock, $ 0.01 par value; 60,000 shares authorized: 49,271 and 48,839 shares issued and outstanding at September 27, 2024 and December 29, 2023, respectively 493 488 Additional paid-in capital 466,579 436,947 Accumulated other comprehensive income (loss) ( 5,602 ) ( 4,113 ) Accumulated deficit ( 33,348 ) ( 47,368 ) Total stockholders' equity 428,122