Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Investor Presentation (January 2019)
25 slides from Staar Surgical's investor presentation, Jan 7, 2019
Slide 1: STAAR Surgical Company Investor Presentation
STAAR Surgical Company NASDAQ: STAA Investor Presentation | January 7, 2019
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 financial projections, including those relating to the plans, strategies, and objectives of management fo
Slide 3: Agenda
» ICL Overview » Current Market Opportunity » Roadmap to Expanded Opportunity » Strong 2018 Financial Performance - Anticipate Achieving Previously Provided Outlook, Reporting on 2/21/2019 » 2019 Outlook: Continued Growth 3 Agenda
Slide 4: 99.4% of Patients Would Elect STAAR's ICL Again
99.4% of Patients Would Elect STAAR’s Implantable Collamer Lens (ICL) Again* 4 We transform lives by providing visual freedom through premium lens - based surgical correction of refractive error. *Patient Registry Survey Data on File ICL Patients ICL Ambassadors
Slide 5: ICL Patient Testimonials
ICL™ Patient Testimonials “Upgradeable, Replaceable”… I feel like a big part of health is using what your body already has. Visian ICL is in line with that because it’s keeping your eye completely intact. My eye is still my eye. EVE TORRES GRACIE JIU JITSU INSTRUCTOR, FORMER WWE DIVA, MOM I had my f
Slide 6: ICL Metrics
ICL Metrics *STAAR sells directly in the U.S., Canada, the U.K., Spain, Germany & Japan and through a Hybrid sales model along with distributors in China, South Korea, and India, and through distributors in the remaining countries. 900K+ ICLs™ Implanted Globally 75+ Countries* 84% ICL Revenue Mix Pr
Slide 7: Collamer Material and ICL Placement in the Eye
Biocompatible UV Protection No Dry Eye Removable ICL™ Exclusive Collamer® Material, the ICL is Quiet in the Eye Iris Cornea ICL™ Natural Lens 7 STAAR’s exclusive Collamer® material offers patients a unique set of benefits … ICL Placement in the Eye
Slide 8: EVO ICL Safety and Effectiveness Outcomes Reported in Literature
EVO ICL™ Safety and Effectiveness Outcomes Reported in Literature 8 Stellar Safety and Effectiveness of STAAR’s EVO Lens 2018 Literature Review authored by Dr. Mark Packer is a review of 67 papers from 10 countries* Review covers over 6,000 Eyes of data with up to 5 years of Follow - Up Outsta
Slide 9: The Market Opportunity: Myopia, Presbyopia and Growth
9 The Market Opportunity Myopia, Presbyopia and Growth
Slide 10: Myopia
Myopia An Inability to Focus at Distance due to Genetic and/or Environmental Factors • More screen use and near vision work • Less time spent outdoors • Positive correlation between education level and myopia • ICL™ Label Approved Use is - 3 to - 20 diopters of vision correction *“Ophthalmology 2016
Slide 11: Existing Market Annual Refractive Procedures
Existing Market Annual Refractive Procedures* Procedures by Geography Top 10 Markets 82,722 84,500 86,860 87,360 93,631 139,360 161,044 229,262 733,850 944,330 U.K. Italy Japan Spain Canada Germany South Korea India US China 4.0 million procedures annually LASIK ~90% market share, but U.S. LASIK
Slide 12: Myopia: STAAR's Market Position & Growth Opportunity
Myopia STAAR’s Market Position & Growth Opportunity • STAAR is a market leader providing a premium refractive surgical solution and patient experience for High Myopes • Moving down the diopter curve to Mid Myopes represents a significant opportunity for STAAR; Mid Myopia market opportunity estimated
Slide 13: Presbyopia
Presbyopia An Inability to Focus on Near Objects due to an Age Related Loss of Lens Accommodation • Current refractive options for presbyopia are Monocular/LASIK/RLE • ICL could be a more desirable solution to patients seeking Visual Freedom • ICL Not laser/equipment dependent; no large capital inve
Slide 14: Early Presbyopia
Presbyopia 14 Early Presbyopia 550 million people globally 55 Million Viable Patient Population = 110 Million ICLs * Company internal estimates; refract ive market is currently approximately 3.6 million procedures (eyes) annually based on Marketscope Report data. • STAAR aims to become a market lead
Slide 15: Growth Opportunities
Growth Opportunities Current and Potential Future Drivers of Growth • ICL capturing vision correction (refractive surgery) market share drives base business growth • ICL Premium and Primary product positioning supported by clinical data and industry - leading patient satisfaction • Myopia • Moving d
Slide 16: Significant Visual Freedom Market Opportunity for Premium Refractive Procedures
720,000 1,500,000 Mid to High Myopia Early Presbyopia 16 * Company internal estimates updated October 31, 2018 STAAR is targeting 2.22 million eyes annually, which would represent an annual revenue opportunity > $1 Billion * Significant Visual Freedom Market Opportunity for Premium Refractive Proced
Slide 17: Financial Overview
17 Financial Overview Recent Results, Outlook and Growth Drivers
Slide 18: Growth Results: STAAR's Revenue Growth Leads Sector
Growth Results STAAR’s Revenue Growth Leads Sector 18
Slide 19: Business Results 2016-2018
19.3 21.0 20.1 22.1 20.4 21.9 23.5 24.9 27.1 33.9 31.8 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 68.4% 70.8% 70.9% 71.7% 74.4% 75.1% 2015 2016 2017 Q1 2018 Q2 2018 Q3 2018 $82.4 2016 $90.6 2017 $ Millions Revenue Gross Margin YTD $92.8 2018 19 Business Results 2016 – 2018 As Reported, YTD Volume Increases Fu
Slide 20: 2018 Business Results
2018 Business Results 2016 – 2018 As Reported, YTD Potential Investments: - Automation - Precision Manufacturing - R&D - IT Systems - Working Capital Quarter - End Cash, Cash Equivalents & Restricted Cash* GAAP and Non - GAAP Earnings Per Share** 14.1 18.6 20.9 21.4 $102.3 Q4 2016 Q4 2017 Q1 Q2 Q3 $
Slide 21: 2018 Business Outlook
2018 Business Outlook Outlook provided as updated on October 31, 2018 Revenue Growth Percentage Target Increase Should Exceed 30% Full Year 2018 Over 2017 GAAP Net Income Fully expect to maintain GAAP Net Income profitability for the year • Achieve Full Year Positive Cash Flow • Cash Balance I
Slide 22: Introducing 2019 Business Outlook
Introducing 2019 Business Outlook* January 7, 2019 Revenue Growth Percentage Target Increase 20% Full Year 2019 Over 2018 (Includes $2.6M reduction in sales of low margin injector parts) ICL Unit Growth Percentage Target Increase 30% Full Year 2019 Over 2018 GAAP Net Income Expect to increase
Slide 23: Growth Drivers 2019
Growth Drivers 2019 » Continued market penetration in China where share has increased 5x in less than three years » U.S. market returns to growth with introduction of the Toric ICL for astigmatism in Q4’18 » EU market upside with potential Presbyopia approval 23 » Continued market share gains in Mid
Slide 24: Millions of Eyes Global Opportunity
STAAR Surgical Company 2018 - 2020 24 Millions of Eyes “Millions of Eyes” Global Opportunity – Myopia and Presbyopia Revenue Growth 20%+ Annual Revenue Growth Goal Profitability Targets Targeting Achievement of Sustained Profitability Margin Expansion Gross Margin Improvement & Cash Generation Growt
Slide 25: STAAR Surgical Company
STAAR Surgical Company NASDAQ: STAA Investor Presentation | January 7, 2019
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