Business
STAAR Surgical Reports Third Quarter 2025 Results
LAKE FOREST, Calif.--(BUSINESS WIRE)-- STAAR Surgical Company (NASDAQ: STAA), the global leader in phakic IOLs with the EVO family of Implantable Collamer®
About this update from Staar Surgical Company
[{"type":"text","content":" LAKE FOREST, Calif.--(BUSINESS WIRE)--\nSTAAR Surgical Company (NASDAQ: STAA), the global leader in phakic IOLs with the EVO family of Implantable Collamer® Lenses (EVO ICL™) for vision correction, today reported results for the third quarter ended September 26, 2025.\n\nThird Quarter 2025 Financial Overview\n\n\nNet sales of $94.7 million up 6.9% Y/Y\n\n\nNet sales included $25.9 million related to the previously disclosed December 2024 ICL shipment that was subject to extended payment terms, and which was paid in full during the third quarter 2025 pursuant to such payment terms (the “December China Shipment”)\n\n\nNet sales excluding China of $38.9 million up 7.7% Y/Y\n\n\nGross margin at 82.2% vs. 77.3% year ago due to the timing of the recognition of the cost of sales associated with the December China Shipment and decreased period costs resulting from cost reductions implemented in the first quarter of 2025\n\n\nNet income of $8.9 million or $0.18 per share, down from net income of $10.0 million or $0.20 per share year ago\n\n\nAdjusted EBITDA1 of $34.6 million or $0.68 per share, up from Adjusted EBITDA of $16.2 million or $0.33 per share year ago\n\n\nThird Quarter 2025 Results\n\nNet sales were $94.7 million for the third quarter of 2025 compared to $88.6 million in the prior year quarter and $44.3 million in the second quarter of 2025. Net sales for the three months ended September 26, 2025, included $25.9 million related to the previously disclosed December China Shipment, which was paid in full during the third quarter of 2025. The year over year increase in net sales was primarily driven by the December China Shipment combined with 7.7% growth in net sales outside China, partially offset by lower new orders from distributors in China during the third quarter of 2025, due in part to leaner inventory management during the quarter. Excluding China, net sales were $38.9 million, an increase of 7.7% as compared to $36.1 million in the prior year quarter.\n\nAs previously disclosed, the Company shipped $27.5 million of ICLs in December 2024 to one of its distributors in China for which the distributor requested extended payment terms through September 2025. Given the extended payment terms, net sales for the shipment were not recognized by the Company until payments were received. The Company recognized $1.6 million relat...