Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Investor Presentation (January 2016)
18 slides from Staar Surgical's investor presentation, January 2016
Slide 1: Investor Update January 11 & 12, 2016
Investor Update January 11 & 12, 2016 NASDAQ: STAA 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS All statements in this presentation that are not statements of historical fact are forward-looking statements, including statements about any of the following: any projections of earnings, revenue, sales, profit margins, cash, effective tax rate or any other financial item
Slide 3: STAAR Surgical Is… Refractive Implantable Lenses
STAAR® SURGICAL IS… … a Leading Developer, Manufacturer and Marketer of Premium Implantable Lenses for Refractive Vision Correction • Implantable Collamer® Lens or “ICL”™ - A Premium Refractive Procedure Delivering Visual Freedom to the Patient - >550,000 Visian® ICLs Implanted 70 Q3 YTD 2015 Lenses
Slide 4: STAAR Surgical Is… Cataract Lens Replacement
STAAR SURGICAL IS… … a Developer, Manufacturer and Marketer of Premium Implantable Lenses for Cataract Lens Replacement (Assessing Strategy in 2016) • Intraocular Lens (IOL) - Used to Replace the Natural Lens after Cataract Surgery 30 Q3 YTD 2015 Lenses % 4
Slide 5: Refractive Market 2017
REFRACTIVE MARKET 2017 WW Refractive Market by Region 2014-2017 Growth Rate Total Procedures 3.3 Total Procedures 3.9 Million Million % by Region 3-year CAGR = 5.6% Year 2014 Source: Market Scope
Slide 6: Top Countries – Refractive Procedures
TOP 10 COUNTRIES – REFRACTIVE PROCEDURES - China875,000 - USA 602,000 - India 156,430 - South Korea 139,280 - Germany 135,000 - Japan 125,000 - Italy 105,240 - Spain 105,000 - Brazil102,580 - UK 97,540 Source: Market Scope
Slide 7: STAAR Approach to the Market
STAAR APPROACH TO THE MARKET 2014 Now • Focused on Lenses Inserted • Focused on Lenses Inserted into the Eye into the Eye and Delivery with Companion Delivery Systems Systems Therefor Delighting Surgeons and Their Patients… the premium and primary choice • Two Large Market • Three Large Vision Enhan
Slide 8: STAAR Approach to the Market
STAAR APPROACH TO THE MARKET 2014 Now • Increasing IP Position with • Materially Strengthen and New Technologies Expand IP Patent Estate, Continually Secure Trade Secrets • Provide sufficient clinical data to HCPs that • Build Global Clinical Validation, supports STAAR products Clinical Utility and
Slide 9: Our Focus 2015 - 2017
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Engender Culture of Quality - FDA Remediation and Systemic Change • Build R & D Continuum: CentraFLOW®/ Presbyopia/ Cataract Care • Invest in Proprietary Technology and Process Improvements • Develop Global Clinical Validation and C
Slide 10: 2016: Continuing Growth & Investment
2016: Continuing Growth & Investment Growth of the ICL: Expected Double Digit Unit Growth and Expanding Gross Margins Continuing Investment: 2016 Another Investment Year for STAAR - Phase 2 of 3 Year Plan • FDA Remediation and Continuation of Quality System Overhaul: $3M • Create the Visual Freedom
Slide 11: 2016: Continuing Growth & Investment
2016: Continuing Growth & Investment Growth of the ICL: Expected Double Digit Unit Growth and Expanding Gross Margins Continuing Investment: 2016 Another Investment Year for STAAR – Phase 2 of 3 Year Plan • Establish Centers of Excellence: New Training by and Recognition of World’s Best ICL Surgeons
Slide 12: STAAR Surgical Was… 2014
STAAR SURGICAL WAS… 2014 Selling Implantable Lenses as a Procedure for LASIK Rejects… 10% of the Eyes 12
Slide 13: STAAR Surgical Is… 2016
STAAR SURGICAL IS… 2016 Creating the Visual Freedom Market for Implantable Lenses “ICL” 13
Slide 14: Recent Financial Results
RECENT FINANCIAL RESULTS Q3 2015 GAAP ($ millions, except per share) Income Statement Q3 2015 Q3 2014 Revenue $ 18.8 $ 18.2 Gross Profit $ 12.8 $ 11.9 Gross Profit Margin 68.3% 65.3% Operating Expenses $ 14.8 $ 13.4 Other Income (Loss) $ 0.3 $ (0.6) Income (Loss) Before Taxes $ (1.8) $ (2.2) Net Inc
Slide 15: Recent Financial Results – Non-GAAP
RECENT FINANCIAL RESULTS Q3 2015 Non-GAAP ($ millions, except per share) Adjusted Net Income Q3 2015 Q3 2014 Net Income (Loss) $ (1.8) $ (2.7) Foreign Currency Impact - $ 0.6 Stock-Based Compensation $ 1.6 $ 0.9 Expense Remediation Expense $ 0.8 $ 0.6 Adjusted Net Income (Loss) - $ 0.1 Adj. Net Inco
Slide 16: Q3 Financial Highlights
Q3 FINANCIAL HIGHLIGHTS • Sales of $18.8M: +3% from Prior Year and +7% in Constant Currency - ICL units increased 21% WW: +37% in EMEA; +13% in APAC; +10% in NA • Gross Margin Improved 300 bps: 68.3% Compared to Prior Year of 65.3% - Favorable product mix, lower unit costs, and higher avg. selling p
Slide 17: Our Focus 2015 - 2017
OUR FOCUS 2015 - 2017 BUILDING A FOUNDATION FOR CONSISTENT GROWTH • Engender Culture of Quality - FDA Remediation and Systemic Change • Build R & D Continuum: CentraFLOW/ Presbyopia/ Cataract Care • Invest in Proprietary Technology and Process Improvements • Develop Global Clinical Validation and Cl
Slide 18: Investor Update January 11 & 12, 2016
Investor Update January 11 & 12, 2016 NASDAQ: STAA 18
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