Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Investor Presentation (March 2018)
23 slides from Staar Surgical's investor presentation, Mar 13, 2018
Slide 1: STAAR Surgical Company Investor Presentation
STAAR Surgical Company Investor Presentation NASDAQ: STAA March 2018
Slide 2: 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, working capital, effective tax rate or any other financial items; the pla
Slide 3: STAAR is in the patient vision satisfaction business
A leading developer, manufacturer and marketer of premium implantable lenses for refractive vision correction. STAAR is in the patient vision satisfaction business by providing spectacle independence and quality of vision through lens-based surgical correction of refractive error. 3
Slide 4: STAAR Surgical Company: EVO Visian ICL and IOL
STAAR EVO Visian ICL™ Visian ICL™ Surgical Company 80% of Lens Revenue* Implantable Collamer® Lens ICL delivers Visual Freedom to patients needing Myopic (distance vision) correction Patient pay Crystalline Lens Replacement Preloaded Injectors & Parts IOL replaces the patient’s natural Silic
Slide 5: Quiet in the Eye ICL
Exclusive Quiet in the Eye Collamer® Biocompatible UV Protection Material Advantages Natural Lens ICL™ Iris Cornea 5 Evolution in Visual Freedom ™ No Dry Eye Removable
Slide 6: Global Leader Phakic IOL ICL Implantation
Global Leader Revenue ICL Units 90.6 Phakic IOL “ICL” $ Millions 82.4 Thousands 10% CAGR 15% CAGR Implantation 72.2 75.0 77.1 62.8 63.8 55.0 10-Year CAGRs 49.8 51.1 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Goals: $100+ Million Revenue 1
Slide 7: Select Metrics
Select 785K+ 75+ Metrics 785,000+ ICLs™ Implanted Globally Lenses marketed in 75+ Countries. Direct Sales in U.S., Canada, UK, Spain , Germany & Japan. Hybrid sales model with distributors in China, Korea, India 71% 17% 71% Gross Margin 17% ICL Unit Growth Fiscal Year 2017 2017 vs. 2016 Evolution in
Slide 8: ICL Patient Experience
ICL™ Patient Experience 99.3% of Patients Would Have the ICL’s NEED OUTREACH-EDUCATION IMPLANT Implanted Step 1 Patient need and awareness Step 2 Surgery day Again* Outreach, education and eye surgeon visit Local anesthetic, minimally invasive Decision to use ICL Quick 20-30 minute procedure Step 3
Slide 9: ICL Patient Testimonials
ICL™ Patient Testimonials “Upgradeable”, “Replaceable”… I feel like a big part of health is I had my first opportunity to put using what your body already has. my Visian ICL eyes to the test Visian ICL is in line with that recently in the Brazilian because it’s keeping your eye Rainforest, and it co
Slide 10: High Myopia Could Impact One Billion People
High Myopia Could Impact One Billion People Myopia Globally by 2050… An inability to focus at Researchers expect dramatic increase in myopia distance due to genetic and/or environmental • More screen use; near vision work; and less time spent outdoors factors • Positive correlation between education
Slide 11: Mid-Myopia: Visian ICL Corrects Up to -20 Diopters
Visian ICL™ Corrects Up to -20 Diopters… Mid-Myopia -6 to -10 Diopters -10 -3 -20 Label approved use (-3 to -20) for ICL™ • Moving down the diopter curve represents a significant opportunity for STAAR. In select Strategic Accounts high growth correlates to significant increase… approx. 30%+ growth i
Slide 12: Presbyopia Impacts 1.7 Billion People Globally
Impacts 1.7 Billion People Globally… Presbyopia ICL refractive solution could be more desirable to patients seeking Visual An inability to focus on Freedom near objects due to an • Current refractive options are age related loss of lens Monocular/LASIK/RLE accommodation • ICL Not laser/equipment dep
Slide 13: STAAR's Market Positioning
High Myopia Mid Myopia STAAR’s STAAR is the market leader STAAR is focused on Market and best refractive surgical becoming a leading provider Positioning solution and patient of refractive surgical experience for high Myopia solution and patient experience for mid-Myopia Current & Future Early Presb
Slide 14: TAM: Global Annual Market Opportunity
TAM Global Annual Market Opportunity ~ 2.1 Million Eyes* 3.6 Million Refractive Vision Correction 1,500,000 Products and Pipeline Procedures Annually* Preloaded EVO Myopia Preloaded Visian ICL Myopia Toric ICL in U.S. Astigmatism EVO with EDOF Presbyopia 500,000 EVO+ (x U.S.) Larger Optic EVO (x U.S
Slide 15: Financial Results
Revenue 24.9 +10% 23.5 $ Millions Financial 20.9 21.0 22.1 21.9 20.4 Results 18.9 18.7 18.8 19.3 20.1 Fiscal 2017 Revenue Growth of 10 % accelerated from 7 % in Fiscal 2016. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue increased sequentially each $77.1 $82.4 $90.6 quarter in Fiscal 2017. 2015 2016 20
Slide 16: Balance Sheet
Balance Sheet Cash Million $18.6 $Millions Cash, Cash Equivalents & Restricted Cash at December 29, 2017 18.6 18.6 16.3 15.3 16.1 13.4 13.4 14.3 14.1 14.1 13.6 13.6 12.7 10.8 9.0 Q1 Q2 Q3 Q4 FYE Q1 Q2 Q3 Q4 FYE Q1 Q2 Q3 Q4 FYE 2015 2016 2017 Evolution in Visual Freedom ™ 16
Slide 17: Strategic Priorities 2018-2020
• Achieve and Retain Compliance with All Regulatory Strategic Bodies – Culture of Quality • Successfully Build the Visual Freedom Market for Priorities Implantable Lenses by Tangibly Impacting Surgeon Engagement, Practice Development and Patient Desirability 2018 - 2020 • Execute Go-to-Market Strate
Slide 18: Build Global Awareness of the ICL
All High Myopes Need to Know About Build Global the ICL Awareness of The Patient Experience for the High Myope with ICL vs. Glasses and Contact the ICL™ Lenses Should Become a “A Wished for Rite of Passage” Front Office Opticians and OD’s Must Be Trained in Practice Development Video Channel
Slide 19: Innovate Develop Introduce
Innovate EVO EDOF Presbyopia Toric Develop Collamer Material IOL EDOF Presbyopia Introduce Second Generation Collamer Material Supplementary IOL for Sulcus Placement: Piggyback Lens Additional Lens Sizes Diagnostic Devices to Support Lens Fitting & Placement Next Generation Delivery Sy
Slide 20: Clinical Validation
U.S. Clinical Toric ICL Approval Validation Toric ICL PAS (Post Approval Study) EVO IDE and Clinical Trial EVO PAS (Post Approval Study) EVO Presbyopia EDOF IDE Outside the U.S. European EVO EDOF Presbyopia Clinical Trial and Approval EVO EDOF Toric Lens Clinical Pilot EVO Supplement
Slide 21: Financial Outlook 2018
Revenue Growth Objective Financial • Double Digit Revenue Growth Full Year 2018 over 2017 Outlook • Surpass $100 Million Full Year 2018 • Represents 10.4% Growth at $100 Million 2018 • 15% to 20% ICL Unit Growth Profitability Improvement • EPS Improvement Full Year 2018 over 2017 Maintain & Improve
Slide 22: STAAR Surgical Significant Growth Opportunity 2018-2020
STAAR • “Millions of Eyes” Global Opportunity – Myopia and Presbyopia Surgical Significant • 15-20% Annual Revenue Growth Goal with Open U.S. Market Growth • Targeting Achievement of Sustained Profitability Opportunity 2018 - 2020 • Gross Margin Improvement & Cash Generation Growth Continues • EVO I
Slide 23: STAAR Surgical Company
STAAR Surgical Company Investor Presentation NASDAQ: STAA March 2018
STAAR Surgical Company — Investor Presentation (March 2018) on 6ix