Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Investor Presentation (January 2016)
18 slides from Staar Surgical's investor presentation, Jan 11, 2016
Slide 1: Investor Update January 11 & 12, 2016
Investor Update January 11 & 12, 2016 1 NASDAQ : STAA
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, effective tax rate or any other financial items; the plans, strategies,
Slide 3: STAAR Surgical is a leading developer of premium implantable lenses for refractive vision correction
STAAR® SURGICAL IS… 3 … a Leading Developer, Manufacturer and Marketer of Premium Implantable L enses for Refractive V ision Correction • Implantable Collamer® Lens or “ ICL”™ - A Premium R efractive P rocedure Delivering Visual Freedom to the Patient - > 550,000 Visian® ICLs I mplanted 70% Q3 YTD 2
Slide 4: STAAR Surgical is a developer of implantable lenses for cataract lens replacement
STAAR SURGICAL IS… 4 … a Developer, Manufacturer and Marketer of Premium Implantable L enses for Cataract L ens Replacement (Assessing Strategy in 2016) • Intraocular L ens (IOL) - U sed to Replace the Natural L ens after Cataract S urgery 30% Q3 YTD 2015 Lenses
Slide 5: Refractive Market by Region 2014-2017 Growth Rate
Year 2014 Source: Market Scope Total Procedures 3.3 Million % by Region WW Refractive Market by Region 2014 - 2017 Growth Rate Total Procedures 3.9 Million 3 - year CAGR = 5.6% REFRACTIVE MARKET 2017 NA 21% EMEA 34% APAC 45% 5.0% 5.1% 6.3% NA EMEA APAC
Slide 6: Top Countries – Refractive Procedures
TOP 10 COUNTRIES – REFRACTIVE PROCEDURES - China 875,000 - USA 602,000 - India 156,430 - South Korea 139,280 - Germany 135,000 - Japan 125,000 - Italy 105,240 - Spain 105,000 - Brazil 102,580 - UK 97,540 Source: Market Scope
Slide 7: STAAR Approach to the Market
• Focused on Lenses Inserted into the Eye and Delivery Systems Therefor • Two Large Market Opportunities • Rapid Cadence of New ICL and IOL Products - Focus on Top 12 Markets for ICLs - Selective approach with IOLs in 8 main markets based on market opportunity for premium prices and STAAR business s
Slide 8: STAAR Approach to the Market
• Increasing IP Position with New Technologies • Provide sufficient clinical data to HCPs that supports STAAR products • Increasing emphasis on growing the consumer demand for ICLs; expand to presbyopic patients for V6 models • Selective adjustments to business structure based on market opportunity
Slide 9: Building a Foundation for Consistent Growth – Our Focus 2015-2017
• 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 Clinical Utility Competency • Properly Size Commercial Strategic In
Slide 10: 2016: Continuing Growth & Investment
10 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 : $3M • Create the Visual Fre
Slide 11: 2016: Continuing Growth & Investment
11 2016: Continuing Growth & Investment Growth of the ICL : Expected Double Digit Unit Growth and Expanding Gross Margins Continuing Investment: 2016 Another Investment Year for STAAR – Phase 2 of 3 Year Plan • Establish Centers of Excellence : New Training by and Recognition of World’s Best ICL Sur
Slide 12: STAAR Surgical Was… 2014
12 Selling Implantable Lenses as a Procedure for LASIK Rejects… 10% of the Eyes STAAR SURGICAL WAS… 2014
Slide 13: STAAR Surgical Is… 2016
13 Creating the Visual Freedom Market for Implantable Lenses “ICL” STAAR SURGICAL IS … 2016
Slide 14: Recent Financial Results – Q3 2015 GAAP
Q3 2015 GAAP ($ millions, except per share) RECENT FINANCIAL RESULTS 14 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
Slide 15: Recent Financial Results – Q3 2015 Non-GAAP
Q3 2015 Non - GAAP ($ millions, except per share) RECENT FINANCIAL RESULTS 15 Adjusted Net Income Q3 2015 Q3 2014 Net Income (Loss) $ (1.8) $ (2.7) Foreign Currency Impact - $ 0.6 Stock - Based Compensation Expense $ 0.9 $ 1.6 Remediation Expense $ 0.8 $ 0.6 Adjusted Net Income (Loss) - $ 0.1 Adj. N
Slide 16: Q3 Financial Highlights
Q3 FINANCIAL HIGHLIGHTS 16 • Sales of $18.8M: + 3% from Prior Y ear and +7% in Constant C urrency - ICL units increased 21% WW: +37% in EMEA; +13% in APAC; +10% in NA • Gross Margin I mproved 300 bps: 68.3% C ompared to Prior Y ear of 65.3% - Favorable product mix, lower unit costs, and higher avg.
Slide 17: Building a Foundation for Consistent Growth – Our Focus 2015-2017
• 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 Clinical Utility Competency • Properly Size Commercial Strategic Inv
Slide 18: January 11 & 12, 2016
Investor Update January 11 & 12, 2016 18 NASDAQ : STAA
Staar Surgical — Investor Presentation (January 2016) on 6ix