Staar Surgical reports preliminary Q1 revenue in excess of $77M, consensus $72M

Cash, cash equivalents and investments available for sale was approximately $248 million and accounts receivable was approximately $70 million as of March 29, 2024, as compared to $232.4 million and $94.7 million, respectively, at December 29, 2023. “STAAR is off to a solid start in 2024 as illustrated by our preliminary first quarter results including a record quarter in the U.S.,” said Tom Frinzi, President and CEO of STAAR Surgical. “U.S. ICL sales were up approximately 20% sequentially to $5 million in the first quarter, which reflects early signs of our increased market focus. EMEA ICL sales were up approximately 11% year over year and ICL sales in our APAC region were up approximately 9%, including approximately 10% growth in China. We are pleased by the first quarter performance across all major geographies and will provide further detail on our results and outlook during our upcoming earnings call, but at this time we believe our fiscal 2024 net sales can be at the higher end of our previously announced outlook range of $335 million to $340 million.”