STAAR Surgical Company (STAA) is a global leader in the design, development, manufacturing, and sale of implantable lenses for the eye. The company specializes in providing innovative solutions for refractive vision correction, offering premium products that help patients achieve freedom from eyeglasses or contact lenses. Its primary offerings include implantable Collamer lenses (ICLs) and accessory delivery systems, which are used in minimally invasive ophthalmic surgeries.
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Implantable Collamer Lenses (ICLs) - Manufactured using a proprietary collagen copolymer material called Collamer, these lenses are designed for refractive vision correction and are implanted without removing the eye's natural lens. They are foldable for minimally invasive surgery and reversible if removal is desired.
- EVO Family of Lenses - Includes EVO ICL, EVO+ ICL, EVO Visian ICL, and EVO Viva, offering premium refractive outcomes and addressing conditions like myopia, astigmatism, and presbyopia.
- Visian ICL - Provides solutions for hyperopia (farsightedness) and includes toric versions (TICL) for astigmatism correction.
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Other Surgical Products - Includes accessory delivery systems and other minor surgical products. Historically, this segment also included intraocular lenses (IOLs) for cataract surgery, but these were phased out in 2023.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Thomas G. Frinzi ExecutiveBoard | President, CEO, and Chair of the Board | Executive Chair of the Board of Directors at CorneaGen | Joined STAAR's Board in June 2020, became Chair in June 2022, and CEO in January 2023. Extensive experience in ophthalmic and medical device industries, including leadership at Johnson & Johnson Vision and Abbott Medical Optics. | View Report → |
Keith Holliday, Ph.D. Executive | Chief Technology Officer (CTO) | None | Joined STAAR in August 2015 as VP of R&D, promoted to CTO in March 2017. Expert in ophthalmic technologies with numerous patents and publications. | |
Nathaniel B. Sisitsky, Esq. Executive | General Counsel and Corporate Secretary | None | Joined STAAR in December 2023. Previously General Counsel at NuVasive, Inc., and CareFusion Corporation. Holds a J.D. from NYU School of Law. | |
Patrick F. Williams Executive | Chief Financial Officer (CFO) | None | Joined STAAR in July 2020. Previously CFO at Sientra, Inc., and ZELTIQ Aesthetics. Holds an MBA in Finance and Management from San Diego State University. | |
Scott Barnes, M.D. Executive | Chief Medical Officer (CMO) | None | Joined STAAR in October 2017. Former Chief of Ophthalmology Services at Womack Army Medical Center. Retired Colonel with 30 years of military service. | |
Warren Foust Executive | Chief Operating Officer (COO) | None | Joined STAAR in April 2023. Previously Worldwide President, Surgical at Johnson & Johnson Vision. Extensive experience in medical device commercialization and operations. | |
Aimee S. Weisner Board | Director | Board Member at Glaukos Corporation and Lensar, Inc.. | Joined STAAR's Board in June 2022. Former General Counsel at Edwards Lifesciences. Extensive legal and compliance experience in the medical device industry. | |
Arthur C. Butcher Board | Director | Executive VP and Group President, MedSurg and Asia Pacific at Boston Scientific; Board Member at Acotec Scientific Holdings Limited. | Joined STAAR's Board in March 2024. Extensive experience in medical device marketing and strategy, particularly in the Asia-Pacific region. | |
Elizabeth Yeu, M.D. Board | Director | Board Member at Tarsus Pharmaceuticals and Avellino Lab USA; President of ASCRS. | Joined STAAR's Board in January 2021. Nationally recognized ophthalmologist and educator. Partner at Virginia Eye Consultants and Assistant Professor at Eastern Virginia Medical School. | |
Lilian Zhou Board | Director | None | Joined STAAR's Board in December 2023. Founder and former CIO of Yulan Capital Management. Extensive capital markets and investment experience in the Asia region. | |
Stephen C. Farrell Board | Lead Independent Director | None | Joined STAAR's Board in January 2016. Former CEO of Convey Health Solutions. Extensive experience in healthcare distribution and financial stewardship. | |
Wei Jiang Board | Director | Board Member at Waters Corporation. | Joined STAAR's Board in March 2024. Over 25 years of experience in the pharmaceutical and medical device industries, with a focus on the Asia-Pacific region. |
- Considering the recent macroeconomic headwinds in China and the tapering demand during the high season, can you elaborate on how the current inventory levels in the distributor channel might impact future sales, and what strategies you have in place to manage potential overstocking?
- With the U.S. refractive market down 18% year-over-year, yet your U.S. sales grew 16%, how sustainable is this outpacing growth, and what factors could potentially hinder you from continuing to gain market share in a declining market?
- Given that competitors like iBright may enter the Chinese market in 2025 and the potential price compression from laser vision correction alternatives, how do you plan to defend your market share and maintain your pricing strategy in China?
- Your 2024 guidance reflects changes in regional growth expectations due to dynamic macroeconomic conditions; which specific regions are expected to offset the slowdown in China, and how confident are you that this regional performance can sustain your overall growth targets?
- While you've expressed confidence in your long-term growth prospects despite not providing 2025 guidance, what key assumptions support this optimism, and what are the primary risks that could materially impact your future growth outlook?
Research analysts who have asked questions during STAAR SURGICAL earnings calls.
Anthony Petrone
Mizuho Group
5 questions for STAA
Thomas Stephan
Stifel
5 questions for STAA
Patrick Wood
Morgan Stanley
4 questions for STAA
Ryan Zimmerman
BTIG
4 questions for STAA
David Saxon
Needham & Company
2 questions for STAA
Gursimran Kaur
Wells Fargo & Company
2 questions for STAA
John Young
Canaccord Genuity - Global Capital Markets
2 questions for STAA
George Sellers
Stephens Inc.
1 question for STAA
James Sidoti
Sidoti & Company
1 question for STAA
Macauley Kilbane
William Blair & Company
1 question for STAA
Margaret Kaczor Andrew
William Blair
1 question for STAA
Mason Carrico
Stephens Inc.
1 question for STAA
Matthew O'Brien
Piper Sandler & Co.
1 question for STAA
Steven Lichtman
Oppenheimer & Co. Inc.
1 question for STAA
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Shanghai Lansheng | Distributor for China & Hong Kong | All | 2023: $185.6M (57.6% of net sales ), 70% of A/R ; 2022: $148.2M (52.1% ), 59% of A/R ; 2021: $107.3M (46.6% ) |
Recent press releases and 8-K filings for STAA.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.