Phil (on for Matt)'s questions to STAAR Surgical Co (STAA) leadership • Q4 2024
Question
An analyst identified as Phil, on behalf of Matt O'Brien at Piper Sandler, asked why refractive procedure volumes in China seemed to lag the broader economic downturn and what the 2025 guidance implies for the speed of a volume recovery relative to consumer confidence. He also asked for the rationale behind using a 10% volume decline as the low end of the guidance range.
Answer
CEO Tom Frinzi suggested the market's resilience was due to the non-discretionary nature of myopia and the strong demand for the EVO procedure, with 1 in 5 refractive procedures being an EVO. He stated that as consumer confidence returns, volumes will rebound. Management explained the -10% to +10% guidance range for the overall refractive market was based on an estimated 15% market decline in 2024 and the expectation that the Chinese government will implement stimulus measures to boost the economy.