STAAR SURGICAL (STAA) Company Report

STAAR Surgical reported net sales of $94.7 million for the third quarter of 2025, representing a 6.9% year-over-year increase, significantly influenced by $25.9 million recognized from the December 2024 China shipment.
The company's gross margin improved to 82.2% in Q3 2025, compared to 77.3% in the prior year quarter, primarily due to the timing of cost of sales recognition for the December China Shipment.
Net income for Q3 2025 was $8.9 million, or $0.18 per diluted share, a decrease from $10.0 million or $0.20 per share in the prior year quarter. However, Adjusted EBITDA increased to $34.6 million, or $0.68 per share, up from $16.2 million or $0.33 per share year-over-year.
STAAR Surgical announced a pending acquisition by Alcon Inc., and consequently, will not host a conference call to discuss its third quarter 2025 results.
During Q3 2025, the company repurchased approximately 115,000 shares of its common stock for a total cost of $2.0 million under its $30 million share repurchase program.

Nov 5, 2025, 9:02 PM

8-K

STAAR Surgical Postpones Special Meeting of Stockholders Amid Alcon Discussions

STAA

M&A

Proxy Vote Outcomes

STAAR Surgical Company has postponed its Special Meeting of Stockholders to December 3, 2025, at 8:30 a.m. Pacific Time.
This postponement is due to ongoing discussions with Alcon regarding a merger agreement.
The new record date for the Special Meeting is the close of business on October 24, 2025, for stockholders to be eligible to vote.

Oct 27, 2025, 2:52 PM

8-K

STAAR Surgical Announces Preliminary Q3 2025 Net Sales Results

STAA

Earnings

M&A

Demand Weakening

STAAR Surgical reported preliminary net sales of $94.7 million for Q3 2025, an increase of 6.9% compared to $88.6 million in the prior year period.
This growth was primarily driven by the recognition of $25.9 million from a December 2024 ICL shipment to China, which was paid in full during Q3 2025, and 7.7% growth in net sales outside China.
The increase was partially offset by lower new orders from Chinese distributors, who reduced their inventory by approximately $80 million to $85 million for the nine months ended September 26, 2025.
A Special Meeting of Stockholders is scheduled for October 23, 2025, to vote on the Alcon merger proposal.

Oct 20, 2025, 11:45 AM

8-K

STAAR Surgical Company Merger with Alcon Faces Shareholder Opposition and Litigation

STAA

M&A

Legal Proceedings

Proxy Vote Outcomes

STAAR Surgical Company entered into a Merger Agreement with Alcon on August 4, 2025, with a special stockholder meeting scheduled for October 23, 2025, to vote on the proposal.
As of October 13, 2025, two lawsuits have been filed by purported stockholders alleging misrepresentation/omission in the Proxy Statement and seeking an injunction against the merger.
Key shareholders are divided on the merger: Broadwood (27.3% beneficial ownership) and Yunqi Capital Limited (5.1% beneficial ownership) intend to vote against the Merger Proposal, while Soleus Capital Master Fund, L.P. (6% beneficial ownership) supports and intends to vote in favor.
Citi's financial analyses indicated implied per share equity value reference ranges for STAAR from $16.35 to $37.50, compared to the Merger Consideration of $28.00.

Oct 14, 2025, 11:53 AM

8-K

STAAR Surgical: Defender Capital Opposes Proposed Sale to Alcon

STAA

M&A

Takeover Bid

Defender Capital, a long-term shareholder owning approximately 1.5% of STAAR Surgical's outstanding common stock, opposes the proposed acquisition of STAAR by Alcon Inc.
Defender Capital believes the proposed sale price of $28 per share significantly undervalues STAAR Surgical, especially considering the Board previously rejected an offer of $58 per share sixteen months prior.
Citing recent positive projections and outlook from management, Defender Capital sees no compelling reason to sell STAAR Surgical at this time.

Oct 7, 2025, 3:25 PM

Press Release

STAAR Surgical Highlights Analyst Support for Alcon Merger and Urges Stockholder Approval

STAA

M&A

Proxy Vote Outcomes

Demand Weakening

STAAR Surgical is urging stockholders to vote "FOR" its merger with Alcon, which offers a $28 per share cash value, representing a 51% premium to the closing price of STAAR common stock on August 4, 2025.
Independent industry analysts recognize significant downside risks for STAAR as a standalone company, including a 92% year-over-year decline in Chinese revenue to $5.3 million in a recent quarter (down from $63.3 million in Q2 2024), driven by excess channel inventory and a challenging macroeconomic environment.
Analysts consider a competing proposal for STAAR unlikely, with the proposed exit multiple seen as "sufficiently fair and rich enough" to limit the risk of a counteroffer.
A virtual Special Meeting of Stockholders to vote on the Alcon merger is scheduled for October 23, with the STAAR Board of Directors unanimously recommending a "FOR" vote.

Oct 6, 2025, 11:31 AM

Press Release

STAAR Surgical Urges Stockholders to Approve Alcon Merger Amidst Business Challenges

STAA

M&A

Demand Weakening

Proxy Vote Outcomes

STAAR Surgical is urging stockholders to approve its pending merger with Alcon, which offers $28.00 per share in cash, representing a 59% premium to the 90-day volume-weighted average price prior to the announcement.
The company highlights significant downside risks as a standalone entity, citing declining China Net Sales since 2023, a 55% year-over-year reduction in Net Sales in Q2 2025, and a net loss of ($17 million) in Q2 2025.
STAAR's second-largest active stockholder, Soleus Capital, owning approximately 6% of shares, supports the merger, and no competing acquisition proposals were received during the 45-day "window shop" period that ended September 19, 2025.

Sep 26, 2025, 1:14 PM

8-K

Alcon Agrees to Acquire STAAR Surgical

STAA

M&A

Takeover Bid

Alcon has agreed to acquire STAAR Surgical Company for $28 per share in cash, which represents an approximate $1.5 billion in equity value. This price offers a 59% premium to STAAR's 90-day Volume Weighted Average Price and a 51% premium to its closing price on August 4, 2025.
The definitive merger agreement was entered into on August 4, 2025. The transaction is anticipated to close in approximately six to 12 months, subject to customary closing conditions, including regulatory approval and approval by STAAR's shareholders.
The acquisition is expected to be accretive to Alcon's earnings in year two.
The Boards of Directors of both Alcon and STAAR have unanimously approved the transaction.

Aug 5, 2025, 12:00 AM

8-K

STAAR Surgical Appoints Deborah Andrews as CFO and Forms Capital Stewardship Committee

STAA

CFO Change

Board Change

Executive Compensation

STAAR Surgical Company has appointed Deborah Andrews as Chief Financial Officer, effective June 25, 2025. Ms. Andrews previously served as Interim CFO since March 2025 and held the CFO position from 2007-2013 and 2017-2020.
As CFO, Ms. Andrews will receive an annual base salary of $495,000 and an equity award with a grant date fair value of $1.4 million.
The company also announced the formation of a new Capital Stewardship Committee of its Board of Directors, chaired by Lilian Y. Zhou, to guide financial strategies, including capital allocation and oversight.
STAAR Surgical is on track to achieve its targeted $225 million annual SG&A run rate ahead of schedule.
Brian Moore, Vice President of Investor Relations and Corporate Development, will be leaving the company on June 27, 2025, as part of a restructuring of the investor relations function.

Jun 25, 2025, 12:00 AM

8-K

STAAR Surgical Outlines Growth and Strategic Realignment at William Blair Conference

STAA

Management Change

Revenue Acceleration/Inflection

Layoffs

CEO Steve Farrell delivered his inaugural presentation, emphasizing STAAR Surgical's global leadership in ophthalmic surgery and its competitive advantages over LASIK, such as reversibility, UV protection, and preservation of the cornea.
The discussion highlighted geographic sales mix and regulatory wins—especially in China, Taiwan, and Brazil—while acknowledging headwinds like lower revenue in China and margin pressures.
The team outlined restructuring efforts, including cost reductions and layoffs, aimed at restoring profitability and setting the stage for a rebound in sales growth in upcoming quarters.

Jun 4, 2025, 3:06 PM

Earnings Transcripts

Quarterly earnings call transcripts for STAAR SURGICAL.

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