Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Investor Presentation (January 2017)
19 slides from Staar Surgical's investor presentation, Jan 10, 2017
Slide 1: Investor Presentation January 10 & 11, 2017
INVESTOR PRESENTATION JANUARY 10 & 11, 2017 Evolution in Visual Freedom ™ STAA: NASDAQ
Slide 2: Forward-Looking Statements
™ ™ BUILDING A FOUNDATION FOR CONSISTENT GROWTH F ORWARD - L OOKING S TATEMENTS All statements in this presentation that are not statements of historical fact are forward - looking statements, including stateme nts about any of the following: any projections of earnings, revenue, sales, profit margi
Slide 3: STAAR Surgical is a Leading Developer of Premium Implantable Lenses
™ ™ BUILDING A FOUNDATION FOR CONSISTENT GROWTH STAAR SURGICAL IS… … a Leading Developer, Manufacturer and Marketer of Premium Implantable Lenses for Refractive Vision Correction Implantable Collamer® Lens or “ICL”™ - A Premium Refractive Procedure Delivering Visual Freedom to the Patient in Need of
Slide 4: STAAR Surgical is Also a Developer of Cataract Lens Replacement
™ ™ BUILDING A FOUNDATION FOR CONSISTENT GROWTH STAAR SURGICAL IS ALSO… 25% Q3 YTD 2016 Lens Revenue … a Developer, Manufacturer and Marketer of Premium Implantable Lenses for Cataract Lens Replacement • Intraocular Lens (IOL) - Used to Replace the Natural Lens after Cataract Surgery
Slide 5: Over One Million Lens Implants with Exclusive Collamer Material
™ ™ BUILDING A FOUNDATION FOR CONSISTENT GROWTH OVER ONE MILLION LENS IMPLANTS (ICL’S AND IOL’S) WITH EXCLUSIVE COLLAMER® MATERIAL … » Collamer production is a remarkable process that requires an understanding of polymer chemistry, nuclear physics and optical physics. » The biocompatible Collamer ma
Slide 6: Global Leader in Phakic IOL ICL Implantation
™ ™ GLOBAL LEADER IN PHAKIC IOL “ICL” IMPLANTATION CAGR: 9% T OTAL R EVENUE 17% ICL U NITS 10 - Year Total Revenue & ICL Unit Growth 85% of Total Revenue Outside the U.S.
Slide 7: Current Market: LVC Refractive Procedures
™ ™ ▪ China 875,000 ▪ USA 630,000 ▪ India 180,677 ▪ Brazil 162,640 ▪ Germany 135,340 ▪ Italy 105,229 ▪ UK 97,540 ▪ Spain 92,920 ▪ Japan 82,650 ▪ South Korea 81,250 ▪ ROW 1,196,261 Source: 2015 Market Scope 3.6M Global LVC Refractive Procedures Current Market: LVC Refractive Procedures
Slide 8: Myopia a Growing Concern in Asia
™ ™ Myopia a Growing Concern in Asia: 30 Million in China Suffering from High Myopia * Excerpts from Published Articles on Myopia Adjusting Vision Health Policies: Now or Never -- A Research Report on the Vision Health of Chinese People "The number of people with high myopia alone is far greater tha
Slide 9: Myopia a Growing Concern in the U.S.
™ ™ Myopia a Growing Concern in the U.S. Nearly 10 Million Adults Found to Be Severely Nearsighted Excerpts from Published Articles on Myopia A study was conducted jointly by investigators from the American Academy of Ophthalmology, Genentech, the National Institutes of Health and UC Davis. “ Among
Slide 10: Myopia a Growing Global Concern
™ ™ Myopia a Growing Global Concern… High Myopia Could Impact Almost 1 Billion People by 2050 Excerpts from Published Articles on Myopia “ In the journal Ophthalmology, a new paper looks at worldwide trends in myopia by doing a meta - analysis of 145 studies involving 2.1 million total participants.
Slide 11: Our Strategic/Transformational Focus 2015-2017
™ ™ » Engender Culture of Quality - FDA Remediation and Systemic Change » Build R & D Continuum: Myopia/ Presbyopia/ Cataract Care » Develop Global Clinical Validation and Clinical Utility Competency » Create an Extraordinary Surgeon and Patient Experience » Invest in Proprietary Technology and Proc
Slide 12: 2015 & 2016 Strategic Priorities/Accomplishments
™ ™ » Met all internal requirements on budget and on time for FDA Remediation and Systemic Change » Acquired and validated new Quality Management System … established Culture of Quality » Achieved Record Total Revenue and ICL Unit Sales (through Q3 2016) » Hired top talent in R&D, Clinical and Medic
Slide 13: 2015 & 2016 Strategic Priorities/Accomplishments
™ ™ » Created new strategic direction to position STAAR as a premium and primary provider of lenses delivering Visual Freedom to patients » Rebranded STAAR … launched Evolution in Visual Freedom™ global websites in all major markets… discovervisianicl.com and discoverEVO.com » Successfully launched
Slide 14: 2015 & 2016 Strategic Priorities/Accomplishments
™ ™ » Built Clinical and Medical Affairs competency… completed global meta analysis of all peer reviewed clinical data on ICL with published paper in Clinical Ophthalmology June 2016 » Finalized design for Extended Depth of Field (EDOF) next generation ICL’s currently in clinical evaluation with pos
Slide 15: 2017 Strategic Priorities
™ ™ » Complete Remediation Plan Actions and Quality System Overhaul » Continue to Build the Visual Freedom Market for Implantable Lenses ▪ Tangibly Impact Surgeon Engagement, Practice Development and Patient Desirability » Build Go - to - Market Strategy to Significantly Expand Market Share Globally
Slide 16: Financial Summary
™ ™ F INANCIAL S UMMARY September YTD 2015 2016 NET SALES (IN MILLIONS) ICL UNIT GROWTH GROSS MARGIN $56.3 $60.3 8% 11% 67.6% 70.5% Record net sales through September 2016 driven by accelerated ICL unit growth Expanding gross margin reflects sales mix shift to higher margin ICL’s, manufacturing effi
Slide 17: Recent Financial Results Q3 2016 GAAP
™ ™ Income Statement ($ millions, except per share) Q3 2016 Q3 2015 Revenue $ 20.1 $ 18.8 Gross Profit $ 14.9 $ 12.8 Gross Profit Margin 74.2% 68.3% Operating Expenses $ 16.6 $ 14.8 Other Income (Expense) $ - $ 0.3 Income (Loss) Before Taxes $ (1.7) $ (1.8) Net Income (Loss) $ ( 1.8) $ (1.8) Net Inc
Slide 18: Recent Financial Results Q3 2016 Non-GAAP
™ ™ R ECENT F INANCIAL R ESULTS Q3 2016 N ON - GAAP Adjusted Net Income ($ millions, except per share) Q3 2016 Q3 2015 GAAP Net Income (Loss) $ (1.8) $ (1.8) Foreign Currency Impact $ - $ - Stock - Based Compensation Expense $ 0.4 $ 0.9 Remediation Expense $ 0.5 $ 0.8 Adjusted Net Income (Loss) $ (0
Slide 19: Evolution in Visual Freedom
INVESTOR PRESENTATION JANUARY 10 & 11, 2017 Evolution in Visual Freedom ™ STAA: NASDAQ
STAAR Surgical — Investor Presentation (January 2017) on 6ix