Staar Surgical Company · NASDAQ:STAA
Staar Surgical — Investor Presentation (September 2020)
25 slides from Staar Surgical's investor presentation, Sep 2, 2020
Slide 1: STAAR Surgical Company Investor Presentation September 2020
STAAR Surgical Company Investor presentation September 2020 Exhibit 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, plans, strategies, and objectives of management for 2020 or prospects for achieving su
Slide 3: The Future of Refractive Surgery is Lens-Based... The Time for STAAR is Now
The Future of Refractive Surgery is Lens-Based... The Time for STAAR is Now Large and Growing Total Addressable Market (TAM) Strong Financial Performance includes Expanding Margins and Cash Generation Proprietary Lens Technology and Business Model is Driving Industry-Leading Growth
Slide 4: STAAR is Targeting Two Large Markets
TAM STAAR is Targeting Two Large Markets Refractive Today: 4 Million Procedures Annually Refractive Future: Growth refueled by lens-based myopia and presbyopia solutions Myopia Presbyopia * Company estimates of Viable Market Opportunity. Adjustments to TAM based on Epidemiological Data; Distribution
Slide 5: Tailwinds Will Drive Future Market Growth
TAM Tailwinds Will Drive Future Market Growth …to dramatically increase STAAR’s Opportunity. Significant and Increasing Prevalence… Patients Require Correction Myopia Presbyopia 75-80% of 45-54 Year Olds are Using Correction for Presbyopia** $70 Billion Spend * BHVI, adapted from Holden et al. 2016
Slide 6: Existing Market: Million Refractive Procedures Annually
Existing Market 4 Million Refractive Procedures Annually Source: Market Scope, December 2019 and Company Estimates. One Eye = One Procedure. 2019 Global Refractive Procedures were approximately 4 Million including 3.1 Million (78%) in 14 Countries listed and ~900,000 in rest of world shown above as
Slide 7: Industry Leading Growth: ICL Unit Growth
Industry Leading Growth ICL Unit Growth Y/Y*… Fiscal Year 2019 * Select markets for the Twelve-Months Ended January 3, 2020.
Slide 8: STAAR's Global Eyeprint
STAAR’s Global “Eyeprint” 75 Countries Hybrid China S. Korea India Direct United States Canada U.K. Germany Spain Japan Distributor Hybrid Targets
Slide 9: STAAR's Products
STAAR’s Products x ICLs 86% FY19 Net Sales Mix EVO ICL™ Family Spheric (EVO and EVO+) Toric (EVO and EVO+) Viva™ (New Presbyopia Lens for 2H2020) ICL™ Family Spheric Toric Hyperopic x Other Products 14% FY19 Net Sales Mix Aphakic IOLs (Cataract) Lens Delivery Systems An ICL (Implantable Collamer Len
Slide 10: EVO ICL Technology: A Closer Look
EVO ICL™ Technology A Closer Look The EVO lens is implanted in the eye and positioned behind the iris and in front of the natural lens The EVO ICL is not visible to other people after implantation ICL™
Slide 11: Advantages of STAAR's Proprietary Lenses
Premium and Primary Positioning EVO ICL™ Technology x x A Closer Look Advantages of STAAR’s Proprietary Lenses Proprietary Collamer Material Quality of Vision Removeable Eco-Friendly Bio-Compatible No Dry Eye Syndrome Upgradeable No Capital Investment Excellent Night Vision Quiet in the Eye Additive
Slide 12: 99.4% of Patients Would Elect EVO ICL Again
99.4% of Patients Would Elect STAAR’s EVO Implantable Collamer® Lens Again* Over 1 Million ICLs Implanted Globally * EVO ICL Patient Registry data on file.
Slide 13: What's Going On in Active Markets Globally
What’s Going On in Active Markets Globally…
Slide 14: China: What's Going On
China What’s Going On… * Sold by our distributor to clinicians/end-users. Increase in China to clinicians/end-users helps to offset on-going impact of COVID in large markets such as India and the Middle East and to a lesser extent Latin America. Sales by distributor to clinicians/end-users provides
Slide 15: United States: What's Going On
United States What’s Going On… Successful launch of Toric ICL, which was approved in September 2018 Increased surgeon engagement with Inaugural Surgeons Council Meeting in August 2019 Signed dozens of Strategic Agreements with potential future EVO luminary sites Introducing high quality and effectiv
Slide 16: South Korea: Digital Consumer Marketing and Influencer Campaigns
Impactful Digital Consumer Marketing, Influencer Campaigns and Surgeon Support are Driving ICL Unit Growth S. Korea What’s Going On… 24 / 365 Influencer Campaign Son Na-eun, Apink K-Pop Square Billboard Seoul Gangnam Station Billboard
Slide 17: Germany and Spain: What's Going On
The German refractive society expanded recommended range for use of phakic refractive lenses, including EVO from -6.0D to -3.0D* in 2019 Strategic partnerships with multi-unit practices established in last 36 months STAAR is thrilled to enter the large addressable market for refractive Presbyopia Co
Slide 18: 2Q Earnings Review Key Takeaways
2Q Earnings Review Key Takeaways August 5, 2020 Welcomed new Chief Financial Officer and two new Board Members 2Q results demonstrated STAAR’s ability to perform well in the midst of prolonged COVID-19 related shutdown of elective surgeries in most markets Net Sales of $35.2 Million Down 11% Y/Y Gro
Slide 19: STAAR's Proven Track Record of Operating and Financial Execution
STAAR’s Proven Track Record of Operating and Financial Execution…
Slide 20: Significant ICL Unit Growth
+11% 2016 +17% 2017 +54% 2018 +33% 2019 STAAR Generates… Significant ICL Unit Growth Global ICL Unit Growth Y/Y
Slide 21: Industry Leading Sales Growth
$82.4 Million +7% Growth 2016 $90.6 Million +10% Growth 2017 $124.0 Million +37% Growth 2018 $150.2 Million +21% Growth 2019 ICL Unit Growth Generates… Industry Leading Sales Growth Three-Year 22% CAGR Net Sales $ and Growth Y/Y Source: As reported. Three-Year compound annual growth rate (CAGR) calc
Slide 22: Improving Margins, Profitability and Cash
Industry Leading Sales Growth Drives… Gross Margin Operating Margin Cash from Operations GAAP EPS * Includes $0.07 GILTI tax benefit for FY2019. Improving Margins Cash from Operations GAAP EPS Profitability Increasing Cash on Balance Sheet
Slide 23: Cash
Cash ~ 90% of Quarter-End Cash of $116.3 Million held at JP Morgan in the U.S. and Credit Suisse in Switzerland* * As of July 3, 2020 Cash, cash equivalents and restricted cash was $116.3 million. Approximately 90% of the Company’s Cash is held at JP Morgan in the U.S. and Credit Suisse in Switzerla
Slide 24: Three-Year Financial Outlook: Promises Made. Promises Kept.
STAAR’s Execution Three-Year Financial Outlook Announced during November 2017 Investor Day and Execution… Promises Made. Promises Kept. GAAP EPS Outlook 2018 - 2020 Annual Revenue Growth of 15 - 20% Stretch Annual ICL Unit Growth of 25%+ Profitability Improvement; Achieve Sustainable Positive EPS wi
Slide 25: The Time for STAAR is Now!
The Future of Refractive Surgery is Lens-Based. The Time for STAAR is Now! We welcome you to visit STAAR’s investor website for clinical papers, examples of global consumer marketing and much more at investors.staar.com www.staar.com www.discoverevo.com
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