Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Investor Presentation (June 2019)
25 slides from Staar Surgical's investor presentation, Jun 5, 2019
Slide 1: STAAR Surgical Investor Presentation
STAAR Surgical NASDAQ: STAA www.staar.com / www.discoverevo.com Investor Presentation | June 5, 2019 99.1
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 financial projections, including those relating to the plans, strategies, and objectives of management for 20
Slide 3: Positioning the ICL as a premium and primary procedure for visual freedom
Positioning the ICL™ as a premium and primary procedure for visual freedom Expanding market opportunity and winning share with a pipeline of products to address myopic and presbyopic vision correction We Transform Lives by Providing Visual Freedom through Premium Lens-Based Surgical Correction of Re
Slide 4: The ICL: A Remarkable Technology
The ICL™ A Remarkable Technology 99.4% of Patients Would Elect STAAR’s Implantable Collamer® Lens Again* Upgradeable Removeable Eco-Friendly An Evolution in Visual Freedom™ * Patient registry data on file.
Slide 5: Financial Snapshot
Financial Snapshot ICL Sales ($ Millions) GAAP EPS 18 Percent Five-Year CAGR +48% Delivering Strong Revenue Growth and Profitability
Slide 6: ICL Recent Results
ICL™ Recent Results Significant ICL Revenue Growth Across Multiple Markets… Q1’ 2019 * Constant Currency ICL Revenue Growth Y/Y for Q1’19 was +34% Total; +23% UK; and +19% Germany.
Slide 7: ICL Milestone: 1 Million+ ICLs Implanted
ICL™ Milestone 1 Million+ ICLs 75+ Countries 85% of Sales Mix 1 Million+ ICLs™ Implanted Globally
Slide 8: ICL Advantages
ICL™ Advantages Quiet in the Eye Our Exclusive Precision-Manufactured Collamer® Lens Offers a Unique Set of Benefits… Biocompatible No Dry Eye Syndrome UV Protection Excellent Night Vision ICL Placement in the Eye Iris Cornea ICL™ Natural Crystalline Lens
Slide 9: EVO ICL Safety and Effectiveness Outcomes
EVO ICL™ *Published in Clinical Ophthalmology, Packer, December 2018. Safety and Effectiveness Outcomes Reported in Literature Stellar Safety and Effectiveness of STAAR’s EVO Lens… “Improved safety and effectiveness across a broad range of refractive errors make EVO an attractive option for surgeons
Slide 10: Investment Highlights
Investment Highlights Surgeon training and consumer education and marketing regarding latest ICL technology is driving faster growth STAAR Surgical… …is pursuing a large vision correction market opportunity. …is gaining market share from laser-based refractive procedures. …market share gains have ac
Slide 11: Investment Highlights
Investment Highlights Surgeon training and consumer education and marketing regarding latest ICL technology is driving faster growth STAAR Surgical… ….gross margins have been expanding for multiple quarters enabling near-term investments for additional growth. …sales are globally-diversified and not
Slide 12: Our Market: Refractive Error
Our Market Refractive Error * Market Scope and Company Estimates. ** Primarily; may also present at birth; early age or from trauma. *** Multi-site European clinical trial for EVO ICL with EDOF (Presby Lens) currently underway; initially targeting CE Mark approval. Myopia Presbyopia Cataracts Distan
Slide 13: Myopia: A Large and Growing Market
Myopia * “Ophthalmology 2016;123:1036-1042 © 2016 by the American Academy of Ophthalmology;” Myopia incidence was estimated at 1.4B people globally at time of study growing to 4.8B people by 2050 or predicted 50% of global pop. ** Viable Market adjustments based on Epidemiological Data; Distribution
Slide 14: Presbyopia
Presbyopia The primary study cohort has completed 6 month follow-up and STAAR is preparing submission for DEKRA’s review (our European Notified Body). ** Viable Market adjustments based on Epidemiological Data; Distribution of Uncorrected Refractive Error by Age; Patient Ability to Pay; Proximity to
Slide 15: Existing Market
Existing Market * Company internal estimates and December 2018 Market Scope Report data. ** Market Scope Data 4 Million Annual Refractive Procedures Globally… STAAR has sold more lenses since 2015 than the prior 15 years combined Q3’ 2018 Y/Y Top 10 Refractive Markets* Ophthalmology Revenue Growth *
Slide 16: Global Consumer Marketing
Global Consumer Marketing Display, SEO/SEM in High Potential & Focus Markets Consumer Advertising & Social Media Campaigns Generate “Peer to Peer” Brand Desirability Increasing EVO Visian ICL Brand Awareness, Desirability, Conversion and Activating Influencer Communications for Key Markets…
Slide 17: The ICL Paradigm Change
The ICL™ Paradigm Change * Company internal estimates updated October 31, 2018; FY18 Revenue was approximately $124 million. In the Near-to-Medium Term STAAR is targeting 2.3 million eyes annually, which would represent an annual revenue opportunity > $1 Billion * Significant Visual Freedom Market O
Slide 18: Financial Overview
Financial Overview Business Results, Outlook and Execution
Slide 19: Business Results 2016 – Q1'2019
Business Results 2016 – Q1’ 2019 As Reported Volume Increases Fuel Future Growth Nidau Production Presbyopia Clinicals Presbyopia Production Commercial Buildout Digital Marketing Surgeon Support Patient Outreach Revenue ($ Millions) +7% Y/Y Growth +10% Y/Y Growth +37% Y/Y Growth $ 82.4 2016 $ 90.6 2
Slide 20: Business Results 2015 – Q1'2019
Business Results 2015 – Q1’ 2019 As Reported Potential Investments Automation Precision Manufacturing R&D IT Systems Working Capital Gross Margin Operating Margin Earnings Per Share Balance Sheet Q1’ 2019: $0.03 GAAP and $0.09 Non-GAAP $102.2 Million Cash, Cash Equivalents and Restricted Cash at Mar
Slide 21: Business Outlook & Recent Execution
Business Outlook & Recent Execution * Note that STAAR may incur charges, realize gains or losses, incur financing costs or interest expense, or experience other events in 2019 that could cause actual results to vary materially from this outlook. Revenue Growth includes $2.6M reduction in sales of lo
Slide 22: Growth Drivers
Growth Drivers Continued ICL market penetration globally; market share gains in Mid-to-low diopter (-1 to -10) lenses (moving down the diopter curve) expands STAAR’s opportunity. Increasing investment in surgeon training, DTC marketing and patient education. EVO with EDOF (Presby Lens) in CE Mark Co
Slide 23: Growth Drivers: EVO in the U.S.
Growth Drivers EVO in the U.S. represents significant opportunity for the ICL in the 2nd largest global market. Discussions ongoing.* Strategic cooperation agreements and alliances with global partners drives base business growth. Increasing number of clinical studies, already 100+, support ICL safe
Slide 24: Three Year Plan 2018 - 2020
Three Year Plan 2018 - 2020 Due to Extraordinary Growth, STAAR will Reset 3-Year Plan One Year Early… November 2019 Millions of Eyes “Millions of Eyes” Global Opportunity – Myopia and Presbyopia Margin Expansion Gross Margin Improvement & Cash Generation Growth Continues Revenue Growth 20% Annual Re
Slide 25: Thank You!
Thank You! STAAR Surgical | NASDAQ: STAA www.staar.com / www.discoverevo.com Investor Presentation | June 5, 2019