LAKE FOREST, Calif., September 24, 2026--(BUSINESS WIRE)--STAAR Surgical Company (NASDAQ: STAA), the global leader in phakic IOLs with the EVO™ family of Implantable Collamer® Lenses (EVO ICL™) for vision correction, today announced that its Board of Directors, at a regularly scheduled meeting, authorized a share repurchase program under which the Company may repurchase up to $50 million of its outstanding common stock.
Under its buyback program, STAAR may repurchase shares in the open market, through privately negotiated transactions, by entering into structured repurchase agreements with third parties, by making block purchases, and/or pursuant to Rule 10b5-1 trading plans. The timing, manner, price, and amount of any repurchases under the program will be determined by STAAR in its discretion, subject to market conditions, legal requirements, and other considerations. STAAR is not obligated to repurchase any specific number of shares, and the program may be modified, suspended, or discontinued at any time, without prior notice. The share repurchase program is expected to continue over the next twelve months, unless extended or shortened by the Board of Directors.
"The decision to authorize a share repurchase program reflects the confidence of the Board and management team in STAAR's business progress, as well as the Company's strong balance sheet and ample free cash flow. It also reflects our conclusion that STAAR is currently substantially undervalued, and we intend to repurchase shares at times when this dislocation exists," said Warren Foust, Chief Executive Officer of STAAR Surgical. "We are especially pleased with recent progress with respect to our three core strategic pillars — revenue growth, profit expansion, and innovation acceleration — which reinforce our confidence about STAAR's long-term future."
"Today's announcement underscores our thoughtful, disciplined approach to capital allocation, which includes a balance between internal investment and returning capital to shareholders, and our commitment to creating shareholder value," said Deborah Andrews, Executive Vice President and Chief Financial Officer.
STAAR intends to fund its share repurchases using organic free cash flow and cash on hand. As of July 3, 2026, the Company had no outstanding debt and $181.5 million in cash, cash equivalents, and investments available for sale. STAAR had approximately 50.1 million shares of common stock outstanding as of August 7, 2026.
About STAAR Surgical
STAAR Surgical (NASDAQ: STAA) is the global leader in implantable phakic intraocular lenses, a vision correction solution that reduces or eliminates the need for glasses or contact lenses. Since 1982, STAAR has been dedicated solely to ophthalmic surgery, and for over 30 years, STAAR has been designing, developing, manufacturing, and marketing advanced Implantable Collamer® Lenses (ICLs), using its proprietary biocompatible Collamer material. STAAR ICLs are clinically proven to deliver safe long-term vision correction without removing corneal tissue or the eye's natural crystalline lens. Its EVO ICL™ product line provides visual freedom through a quick, minimally invasive procedure. STAAR has sold more than 4 million ICLs in over 85 countries. Headquartered in Lake Forest, California, the Company operates research, development, manufacturing, and packaging facilities in California and Switzerland. For more information about ICL, visit www.discoverICL.com. To learn more about STAAR, visit www.staar.com.