Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Q3 2024 Earnings Presentation
17 slides from Staar Surgical's earnings presentation, Oct 30, 2024
Slide 1: Third Quarter 2024 Earnings Presentation
NASDAQ: STAA Third Quarter 2024 Earnings Presentation OCTOBER 30, 2024 Exhibit 99.2
Slide 2: Today's Speakers
02 STAAR Surgical Earnings Webcast Third Quarter 2024 Today’s Speakers Investor Relations PATRICK WILLIAMS TOM FRINZI Chair of the Board, President and CEO Chief Financial Officer http://investors.staar.com Brian Moore VP, Investor Relations and Corporate Development Connie Johnson Director, Investo
Slide 3: Forward Looking Statements
All statements that are not statements of historical fact are forward-looking statements, including statements about any of the following: any financial projections, anticipated financial results, estimates and outlook (including as to net sales, Adjusted EBITDA, and Adjusted EBITDA per diluted shar
Slide 4: Non-GAAP Financial Information
Non-GAAP Financial Information To supplement the Company’s financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this presentation and the accompanying tables include certain non-GAAP financial measures, including Adjusted EBITDA. Management uses these
Slide 5: STAAR Surgical + EVO ICL Around the World
STAAR Surgical + EVO ICL Around the World THIRD QUARTER 2024 EARNINGS PRESENTATION 05
Slide 6: Enhanced commercial focus and investments are driving growth
Enhanced commercial focus and investments are driving growth In the third quarter, we achieved double-digit sales growth against a macroeconomic environment that softened in the second half of the quarter, particularly in China. STAAR is well positioned to navigate through the current market dynamic
Slide 7: Surgeon and HCP Professional Education Activities
07 STAAR / Surgeon and HCP Professional Education Activities Third Quarter 2024 EVO ICL Experience Center Lake Forest, CA September 2024 ESCRS 42nd Annual Congress of the European Society of Cataract and Refractive Surgeons Barcelona, Spain September 2024 >80 ICL Papers Presentations EVO ICL as the
Slide 8: Accelerating ICL Sales Growth in Third Quarter
08 STAAR / Accelerating ICL Sales Growth in Third Quarter Third Quarter 2024 Notes: (1) Americas includes the United States, Canada and Latin American countries (2) EMEA includes Spain, Germany, United Kingdom, European, Middle East and Africa distributors (3) APAC includes China, Japan, South Korea
Slide 9: Income Statement
09 STAAR / Income Statement Third Quarter 2024 PATRICK WILLIAMS Chief Financial Officer Q3’24 net sales of $88.6M Net sales increased $8.3M or 10%; ICL sales increased $8.0M Constant Currency net sales of $88.9M increased 10% Q3’24 Gross profit of $68.5M or 77.3% of net sales Gross profit margin dec
Slide 10: Income Statement: Operating Expenses
10 STAAR / Income Statement Operating Expenses For Q4’24, we continue to expect G&A expense to be approximately $24M For Q4’24, we now expect Selling and Marketing expense to be approximately $32M Third Quarter 2024 Research & Development $26.6M Yr Ago $28.8M Q2’24 Selling & Marketing $19.3M Yr Ago
Slide 11: Income Statement: GAAP Net Income and Adjusted EBITDA
Dollars in millions, except per share amounts GAAP Net Income Continued net income growth in the quarter Per share - Diluted Dollars in millions, except per share amounts Adjusted EBITDA 11 STAAR / Income Statement Continued cash generation in the quarter Per share - Diluted Third Quarter 2024
Slide 12: Strong Balance Sheet and Cash Flows
STAAR / Strong Balance Sheet and Cash Flows $236.0M Cash, Cash Equivalents & Investments as of September 27, 2024 ~ $30M FY 2024 CapEx Outlook ~ $42M FY 2024 Adjusted EBITDA Outlook No Debt as of September 27, 2024 12
Slide 13: Sales Outlook
STAAR / Sales Outlook Outlook Fiscal 2024 EVO ICL Sales Outlook and Global Diversity 13 $340M -$345M Fiscal 2024 Net Sales Outlook Maintained NEW PRIOR APAC China approx. 2% Growth All Other Countries Flat 5% EMEA 10% AMERICAS U.S. Growth of 20% for Fiscal 2024 17% APAC China approx. 10% Growth All
Slide 14: Executing Against Our Strategic Priorities
STAAR / Executing Against Our Strategic Priorities Strategic Priorities Growth Accelerators Pace of EVO ICL Adoption Down Diopter Curve is Accelerating Surgeon Confidence in Measurement and Lens Size Selection Own -6D and Above Refractive Vision Correction New Product Innovation 14 AI-Based Protocol
Slide 15: Q&A
Q&A STAAR SURGICAL THIRD QUARTER 2024 EARNINGS WEBCAST 15
Slide 16: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures STAAR Surgical 16 Additional 2024 Outlook Details Net Income to Adjusted EBITDA (in 000's except for per share data) Unaudited Provision for Income Tax is expected to be $0.3M in 4Q’24 Depreciation of approximately $1.5M in 4Q’24 Expect Other Income to b
Slide 17: ICL Sales by Geography
ICL Sales by Geography Notes: (1) Americas includes the United States, Canada and Latin American countries (2) EMEA includes Spain, Germany, United Kingdom, European, Middle East and Africa distributors (3) APAC includes China, Japan, South Korea, India and the rest of Asia Pacific distributors (4)