Financial Data and Key Metrics Changes - STAAR reported net sales of $35.2 million for Q1 2020, an 8% increase from $32.6 million in the prior year [23] - ICL sales represented 83% of total company sales for Q1 2020, with a 6% increase in ICL sales contributing $1.6 million to the top line growth [23] - Gross profit margin for Q1 was 70.4%, down from 74.2% in the prior year, primarily due to a higher mix of lower-margin product sales and increased manufacturing capacity costs [24] - The operating loss for Q1 2020 was approximately $1.1 million compared to an operating profit of $1.6 million in the year-ago quarter [28] - Adjusted net income for Q1 was $1.9 million or $0.04 per diluted share, down from $4.3 million or $0.09 per diluted share in the prior year [29] Business Line Data and Key Metrics Changes - Global ICL unit growth in Q1 2020 was up 9% year-over-year, with significant growth in key Asian markets [11] - ICL unit growth in Japan was up 79%, Korea up 14%, China up 7%, and the rest of Asia-Pacific up 37% [12] - In Canada, ICL unit growth was up 10%, and in Germany, it was up 5% despite procedure discontinuation in March [13] Market Data and Key Metrics Changes - The COVID-19 pandemic caused a pause in elective procedures, impacting various markets differently [10] - China resumed EVO ICL procedures, with significant patient interest and promotional activities noted during the Asia Golden Week [38] - Germany managed to keep some clinics open, contributing to continued patient procedures [48] Company Strategy and Development Direction - The company plans to resume double-digit growth in Q3 and Q4, contingent on the reopening of markets and elective surgeries [22][55] - STAAR is optimistic about the approval and rollout of the EVO EDOF lens for presbyopia, targeting a staged introduction in CE Mark countries [15] - The company is focused on supporting surgeons with promotional tools to encourage patient return as markets reopen [59] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in resuming growth, citing strong demand for ICLs and EVO lenses as elective procedures resume [21] - The company expects Q2 to be negatively impacted by the slow reopening of markets, but anticipates a recovery in Q3 and Q4 [22] - Management highlighted the importance of maintaining safety protocols while ramping up production and patient procedures [37] Other Important Information - The company resumed production at its California facilities on April 27, 2020, implementing COVID-19 safety enhancements [13] - Cash and cash equivalents totaled $110.9 million as of April 3, 2020, with expectations of ending Q2 with more cash than Q1 [30][31] - The company invested $2.2 million in property and equipment during the quarter, enhancing manufacturing capabilities [32] Q&A Session Summary Question: What is the current capacity in China post-reopening? - Management noted that initial safety measures limited patient procedures, but capacity is ramping up as confidence grows [36][37] Question: How are U.S. trial centers engaging with patients during the pause? - Management confirmed that constant contact was maintained with clinical trial sites, allowing for a smooth transition back to patient enrollment [40][41] Question: What is the outlook for double-digit growth in Q3 and Q4? - Management indicated that if conditions normalize, they expect to achieve growth above 20% in key markets [55] Question: Will there be pressure on pricing through the year? - Management does not anticipate pressure on average selling prices and expects positive pricing dynamics [58] Question: What is the expected charge for the second quarter due to the production pause? - A charge of approximately $1.4 million will be recorded due to the six-week production halt [62]

Financial Data and Key Metrics Changes - STAAR reported net sales of $38.9 million in Q4 2019, a 25% increase from $31.2 million in the prior year [21] - Gross profit margin for Q4 was 74.1%, up 40 basis points from 73.7% in the prior-year quarter [22] - Net income for Q4 was $6.4 million or approximately $0.14 per diluted share, compared to $1.1 million or $0.02 per diluted share in the year-ago quarter [25][26] - Cash, cash equivalents, and restricted cash totaled $120 million at January 3, 2020, compared to $104 million at the end of the previous year [27] Business Line Data and Key Metrics Changes - ICL sales represented 86% of total company sales for both Q4 and the fiscal year of 2019, with ICL unit growth of 27% [21][22] - ICL unit growth in Q4 was driven by significant increases in Japan (95%), China (43%), Germany (29%), Spain (20%), India (16%), and the US (10%) compared to the prior-year period [9] Market Data and Key Metrics Changes - The company experienced a fourfold increase in visits to its ICL website Doc Finder, with over 1 million visits in 2019, indicating strong marketing effectiveness [10] - Approximately half of STAAR's customers in China remained closed due to the coronavirus, but engagement with healthcare professionals through online training was high [12] Company Strategy and Development Direction - STAAR plans to increase marketing investment and creativity in 2020, focusing on building awareness around the EVO ICL family of lenses [19] - The company anticipates a phased rollout of its EVO EDOF lens for presbyopia by the end of Q2 2020, targeting early presbyopes aged 45 to 55 [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the current pause in procedures due to the coronavirus is a short-term deferment rather than a loss of sales [13] - The company expects a potential $5 million to $7 million delay in sales orders for Q1 but is maintaining its full-year sales forecast for 2020 [14] Other Important Information - STAAR has initiated a search for a new CFO as Deborah Andrews plans to retire in 2020 after transitioning to a new CFO [20] - The company has no supply chain or manufacturing risk in China or other Asian geographies [13] Q&A Session Summary Question: Impact of coronavirus on sales - Management indicated that they expect to recapture delayed sales as customers are eager to resume procedures once clinics reopen [34] Question: Approval timing for clinical trials - Management provided details on the phased rollout plan for the EVO lens and the expected timeline for data preparation for FDA submission [36][45] Question: Capacity to meet demand post-coronavirus - Management confirmed that they are well-prepared to meet demand as procedures are rescheduled [58] Question: Training surgeons before EVO approval - Management clarified that no commercial training can occur until the EVO lens is approved in the US [59] Question: Strategic cooperation agreements and sales delays - Management reassured that flexibility exists in meeting annual commitments despite the sales delays [64]

Financial Data and Key Metrics Changes - STAAR Surgical reported net sales of $39.1 million in Q3 2019, a 23% increase from $31.8 million in the same period last year [12] - The company achieved a gross profit margin of 74.4%, slightly down from 75.1% in the prior year due to expenses related to new manufacturing facilities [13] - Operating income for the quarter was approximately $3.3 million, compared to $1.6 million in the year-ago quarter, resulting in an operating margin of 8.5% [14] - Net income was $2.4 million or approximately $0.05 per diluted share, up from $1.5 million or $0.03 per diluted share a year ago [15] Business Line Data and Key Metrics Changes - Global ICL unit growth was 35% in Q3 2019, marking the ninth consecutive quarter of double-digit growth [4] - ICL revenue growth was 28%, representing 87% of total company net sales for the quarter [12] - Significant regional growth included Japan (57%), China (48%), South Korea (38%), France (20%), Spain (14%), UK (13%), and Germany (11%) compared to the prior year [7] Market Data and Key Metrics Changes - The global refractive surgery market is growing at approximately 2.6%, while STAAR is growing at rates above 35% [24] - The company anticipates strong demand for its EVO EDOF lens for presbyopia, expected to launch in Q2 2020 in CE Mark countries [9] Company Strategy and Development Direction - STAAR is focusing on expanding its market share in lower diopter ranges, particularly in Asia and Europe, while maintaining a strong growth trajectory [23] - The company plans to implement a hybrid business model in several major markets, combining direct sales and distributor coverage [45] - The strategic vision for 2020 to 2022 will be outlined at the upcoming Investor Day [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting financial targets for 2019, including 30% ICL unit growth and 20% company revenue growth [6] - The company is optimistic about the enrollment of patients for clinical trials in the U.S., with a strong interest from surgeons [20] - Management expects to continue expanding gross margins year-over-year and anticipates a strong finish to the year in key markets [37] Other Important Information - STAAR generated a record $11.8 million in cash from operating activities in Q3 2019 [16] - The company is preparing for significant marketing campaigns in Europe and the U.S. to support ICL growth [8] Q&A Session Summary Question: FDA recommendations and patient enrollment timelines - Management received FDA approval to begin clinical trials and is reviewing recommendations to finalize the study protocol, expecting to enroll patients quickly [20] Question: Trends in lower diopter patients and market opportunities - Management noted substantial market share growth in lower diopter ranges in Asia and Europe, with expectations for continued expansion [23] Question: Gross margin impacts and operating expenses - Management explained that startup expenses and lower-margin product sales impacted gross margins, but they expect margins to improve moving forward [31] Question: Timeline for Nidau facility and CapEx requirements - Management aims to resume shipping from the Nidau facility by Q3 2020, with ongoing investments in advanced manufacturing capabilities [33] Question: U.S. market potential for EVO lenses - Management believes the EVO family of lenses could address 70% to 75% of refractive surgery requirements in the U.S. [50]

Financial Data and Key Metrics Changes - STAAR Surgical reported net sales of $39.7 million in Q2 2019, an increase of 17% compared to $33.9 million in Q2 2018 [18] - Adjusted net income for Q2 2019 was $6.5 million or $0.14 per diluted share, compared to $3.9 million or $0.09 per diluted share in the prior year [20] - Gross profit margin improved to 75.4%, up 100 basis points from 74.4% in the prior year [19] Business Line Data and Key Metrics Changes - ICL revenue grew by 26%, representing 87% of total company net sales in Q2 2019 [18] - Other product segment sales declined by 21% in the quarter [18] - ICL unit growth was 34% globally, marking the eighth consecutive quarter of double-digit growth [9] Market Data and Key Metrics Changes - In China, ICL unit growth was 48%, while Korea, Japan, and India saw growth rates of 42%, 29%, and 22% respectively [9] - The largest market for refractive procedures is China, accounting for over 24% of the 4 million global procedures annually [10] Company Strategy and Development Direction - The company aims to achieve 30% ICL unit growth and 20% revenue growth for the full year [8] - STAAR is focusing on expanding its presence in the U.S. market and enhancing partnerships with refractive surgeons [40] - The company is pursuing FDA approval for its EVO lens and has submitted a clinical trial design [13][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory in China, citing strong demand and new account openings [28] - The company anticipates stronger cash generation in the second half of 2019 compared to the first half [22] - Management highlighted the importance of building relationships with surgeons and enhancing marketing efforts in the U.S. [40] Other Important Information - The company achieved the primary endpoint in its European multi-site clinical trial for the EDOF lens for presbyopia, with 98% of implanted eyes meeting the criteria [15][16] - STAAR is planning to host an Investor Day in November 2019 to outline its strategic vision for 2020-2022 [17] Q&A Session Summary Question: Insights on growth in China and new accounts - Management noted that demand in China is significantly higher than traditional sales growth, with new accounts contributing positively to future growth [28] Question: Regulatory pathway for EVO lens - Management indicated positive discussions with the FDA and a respectful relationship, aiming for a least burdensome pathway for approval [30] Question: EDOF lens expectations and clinical data - Management stated that the timeline for EDOF lens approval is based on past experiences and the submission for presbyopic indications [36] Question: U.S. market trends and growth expectations - Management emphasized the reintroduction of the company as a premium partner to refractive surgeons and the positive reception of the Toric product [40][44] Question: Size of the trial for EVO approval - Management could not disclose specific details about the trial size and follow-up period due to confidentiality [47]

Financial Data and Key Metrics Changes - STAAR reported net sales of $32.6 million in Q1 2019, an increase of 20% over $27.1 million in the prior year period [19] - Adjusted for currency headwinds, net sales would have increased approximately 23% to $33.3 million [19] - Gross profit margin for Q1 was 74.2%, up 250 basis points from 71.7% in the prior year [20] - Net income for Q1 was $1.4 million or approximately $0.03 per diluted share, compared to $0.6 million or $0.01 per diluted share in the prior year [22] Business Line Data and Key Metrics Changes - ICL revenue grew by 31%, representing 85% of total company net sales in the quarter [19] - Other products segment sales declined by 19% in the quarter [19] - Operating income was approximately $1.6 million in Q1, compared to $0.8 million in the prior year [21] Market Data and Key Metrics Changes - ICL unit growth was 39% globally, significantly above the 5% to 6% growth reported in the ophthalmic sector [8] - ICL sales growth in Asia was exceptional, with Japan growing 94%, Korea 50%, China 49%, and India 26% [9] - North America grew by 15%, with the U.S. at 24% offsetting a decline in Canada [9] Company Strategy and Development Direction - The company aims to double ICL unit growth again by the end of 2020, focusing on a more aggressive strategic plan [28] - New strategic cooperation agreements were announced to partner closely with refractive surgeons [10] - The company is expanding its manufacturing capacity and investing in clean rooms for new product lines [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained meaningful growth for ICL globally, with a target market share of 20% to 30% for myopia correction [11] - The company is optimistic about the upcoming CE Mark application for the presbyopia lens and ongoing discussions with the FDA regarding the EVO ICL family [12] - Management expects Q2 and Q3 to be the highest projected quarters of the year, particularly in China [34] Other Important Information - The company celebrated the milestone of 1 million ICLs implanted, indicating strong market acceptance [10] - Cash, cash equivalents, and restricted cash totaled $102.2 million as of March 29, 2019 [23] Q&A Session Summary Question: Confirmation of ICL unit growth doubling - Management confirmed that they hope to double ICL unit growth again by the end of 2020 and emphasized a more aggressive strategic plan [28] Question: Details on U.S. alliances and implications of new guidelines - Management explained that U.S. alliances involve marketing support and surgeon training, and the new guidelines in Germany and Japan expand the diopter range for ICLs [30] Question: Growth rate in China and inventory management - Management clarified that the perceived deceleration in growth is due to prudent inventory management, with expectations for strong Q2 and Q3 performance in China [34] Question: Update on Switzerland facility - Management stated that the Switzerland facility will be reopened as a premium manufacturing site for ICL lenses, with an expected capital outlay of about $3 million [36][37] Question: Expectations for sales and marketing spending - Management anticipates an increase in sales and marketing spending beginning in Q2, especially with upcoming trade shows [55]

STAAR Surgical Company. (NASDAQ:STAA) Q4 2018 Results Earnings Conference Call February 21, 2019 4:30 PM ET Company Participants Brian Moore - IR, EVC Group Caren Mason - President and CEO Deborah Andrews - CFO Conference Call Participants Jason Mills - Canaccord Genuity Andrew Brackmann - William Blair Chris Cooley - Stephens Jim Sidoti - Sidoti & Company Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to the STAAR Surgical Fourth Quarter and Full Year 2018 Financial Results Con ...