Staar Surgical (STAA)
NASDAQ:STAA
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Staar Surgical
(NASDAQ:STAA)
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Rating:56Neutral
Price Target:
$21.50
▲(2.97% Upside)
Action:ReiteratedDate:04/09/26
The score is held back primarily by materially weakening profitability and cash flow, despite a conservative balance sheet. Offsetting this are improving price momentum and constructive recent business updates (operational progress and strong preliminary Q1 2026 sales), while valuation remains constrained by negative earnings and no dividend.
Positive Factors
High Gross Margins
Sustained gross margins near the mid-70s indicate strong product-level economics from STAAR’s ICL portfolio. High unit margins provide a durable earnings lever: if the company stabilizes volumes and controls operating spend, gross margin strength can convert into lasting profitability even with near-term SG&A variability.
Negative Factors
Weak Cash Generation
A shift to negative operating and free cash flow is a structural concern: persistent cash burn limits runway for R&D, commercial investments and manufacturing build-outs, and increases the risk of dilution or constrained growth if profitability is not restored within several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margins
Sustained gross margins near the mid-70s indicate strong product-level economics from STAAR’s ICL portfolio. High unit margins provide a durable earnings lever: if the company stabilizes volumes and controls operating spend, gross margin strength can convert into lasting profitability even with near-term SG&A variability.
Read all positive factors
Staar Surgical (STAA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.03B
Dividend YieldN/A
Average Volume (3M)1.26M
Price to Earnings (P/E)―
Beta (1Y)0.97
Revenue Growth-32.42%
EPS Growth-540.37%
CountryUS
Employees1,157
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.20
Shares Outstanding49,512,750
10 Day Avg. Volume705,256
30 Day Avg. Volume1,263,251
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)3.40
Price to Sales (P/S)4.89
P/FCF Ratio-29.21
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue4.73
Enterprise Value/Gross Profit6.26
Enterprise Value/Ebitda-30.25
Forecast
1Y Price Target
$20.75Price Target Upside-0.62% Downside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)0.41
Revenue Forecast (FY)$300.47M
Staar Surgical Business Overview & Revenue Model
Company Description
STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides Visian implantable ...
How the Company Makes Money
STAAR Surgical makes money primarily by selling implantable lenses and related delivery systems used in refractive surgery. Its key revenue stream is product sales of the EVO/EVO+ Visian ICL and toric ICL variants (for astigmatism), which are sold...
Staar Surgical Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyStaar Surgical Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call conveyed cautious optimism and a constructive tone: the company delivered solid quarter-over-quarter and year-over-year operational improvements (notably strong Q4 sales growth, significant China quarter recovery, gross margin expansion, near-breakeven adjusted EBITDA, cash strength and cost discipline) while acknowledging material challenges that impacted 2025 (China channel inventory rebalancing, distributor returns, EMEA disruption and merger-related costs). Management outlined clear actions—Swiss manufacturing, product launches (EVO+), ERP and platform investments, and maintained cost discipline—aimed at driving growth and profitability in 2026, though near-term headwinds and macro uncertainty, particularly in China and some channel risks, remain.Positive Updates
Quarterly Revenue Growth
Total net sales of $57.8 million in Q4 FY2025 versus $49.0 million a year ago, an increase of ~17.96% year-over-year, driven largely by China recovery and stronger Americas performance.
Negative Updates
China Channel Inventory Disruption
Significant inventory rebalancing in China following a $27.5 million December 2024 shipment that contributed to elevated distributor inventory; deliberate pause of shipments and normalization reduced near-term net sales recognition and created volatility in 2025 results.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Growth
Total net sales of $57.8 million in Q4 FY2025 versus $49.0 million a year ago, an increase of ~17.96% year-over-year, driven largely by China recovery and stronger Americas performance.
Read all positive updates
Company Guidance
Management declined to give formal 2026 guidance but provided directional targets and metrics: they are targeting profitability in FY2026, expect 2026 gross margin to be slightly lower than 2025 (citing higher-cost Swiss inventory and increased reserves) while maintaining operating expenses generally aligned with the $225 million run-rate target, and expect cash to dip modestly near‑term but to resume generation in H2 and finish 2026 with a higher cash balance than 2025; Q4 results cited as context included total net sales of $57.8M (vs. $49.0M YoY), China Q4 sales $17.5M (vs. $7.8M), ex‑China sales down 2% with Americas +18%, EMEA -20% and APAC ex‑China +2%, Q4 gross margin 75.7% (vs. 64.7% prior yr), Q4 adjusted EBITDA loss of $0.2M (vs. $20.8M loss), Q4 operating expenses $66.6M (or $54.7M excluding $11.9M merger/restructuring costs, an 8.2% reduction YoY), cash and investments of ~$187.5M with no debt, a consumed Dec‑2024 China shipment of $27.5M, distributor inventories in China cooled to at-or-below the contractual ~6‑month level, and operational milestones including Swiss manufacturing scale‑up, EVO+ rollout in China and Oracle ERP deployment early in H2; they also noted the U.S. EVO label expansion adds roughly 8 million potential candidates.Staar Surgical Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 239.44M | 313.90M | 322.42M | 284.39M | 230.47M |
| Gross Profit | 176.90M | 239.58M | 252.65M | 223.38M | 178.64M |
| EBITDA | -37.18M | -5.72M | 33.22M | 48.31M | 36.98M |
| Net Income | -80.45M | -20.21M | 21.35M | 39.66M | 27.51M |
Balance Sheet | |||||
| Total Assets | 461.62M | 509.52M | 488.69M | 418.82M | 345.78M |
| Cash, Cash Equivalents and Short-Term Investments | 187.54M | 230.49M | 220.73M | 211.64M | 199.71M |
| Total Debt | 38.35M | 38.74M | 35.83M | 31.04M | 32.06M |
| Total Liabilities | 117.44M | 112.19M | 102.74M | 82.71M | 87.22M |
| Stockholders Equity | 344.18M | 397.33M | 385.95M | 336.11M | 258.56M |
Cash Flow | |||||
| Free Cash Flow | -40.05M | -7.67M | -3.59M | 17.61M | 30.32M |
| Operating Cash Flow | -34.23M | 15.72M | 14.59M | 35.72M | 43.96M |
| Investing Cash Flow | 46.34M | -59.22M | 74.35M | -156.38M | -13.64M |
| Financing Cash Flow | -4.55M | 5.72M | 7.42M | 8.30M | 17.79M |
Staar Surgical Technical Analysis
Positive
20.88
Price Trends
18.47
Positive
21.24
Negative
22.72
Negative
Market Momentum
0.52
Negative
63.16
Neutral
88.55
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For STAA, the sentiment is Positive. The current price of 20.88 is above the 20-day moving average (MA) of 18.85, above the 50-day MA of 18.47, and below the 200-day MA of 22.72, indicating a neutral trend. The MACD of 0.52 indicates Negative momentum. The RSI at 63.16 is Neutral, neither overbought nor oversold. The STOCH value of 88.55 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for STAA.
Staar Surgical Risk Analysis
Staar Surgical disclosed 41 risk factors in its most recent earnings report. Staar Surgical reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Staar Surgical Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $16.97B | 23.34 | 11.01% | ― | 1.74% | -25.29% | |
64 Neutral | $14.00B | 30.60 | 4.83% | ― | 5.06% | -4.47% | |
64 Neutral | $9.31B | -45.07 | -17.21% | ― | -16.03% | -813.48% | |
63 Neutral | $3.76B | 24.79 | 9.72% | 0.29% | 9.19% | 23.06% | |
60 Neutral | $5.86B | -16.79 | -5.61% | ― | 6.23% | 17.53% | |
56 Neutral | $1.03B | -14.54 | -23.24% | ― | -32.42% | -540.37% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
STAA
Staar Surgical
20.88
5.31
34.10%
COO
Cooper Co
71.73
-3.64
-4.83%
HOLX
Hologic
76.01
18.85
32.98%
MASI
Masimo
178.30
26.81
17.70%
STVN
Stevanato Group
13.79
-6.78
-32.97%
BLCO
Bausch + Lomb Corporation
16.54
5.22
46.11%
Staar Surgical Corporate Events
Business Operations and StrategyFinancial Disclosures
STAAR Surgical Expects Q1 2026 Sales to More Than Double
Positive
Apr 8, 2026
On April 8, 2026, STAAR Surgical reported that preliminary net sales for the first quarter ended April 3, 2026 are expected to exceed $90 million, more than double the $42.6 million recorded in the same quarter of 2025. The company released these ...
Business Operations and StrategyFinancial Disclosures
Staar Surgical Reports Q4 2025 Results and Outlook
Negative
Mar 3, 2026
On March 3, 2026, STAAR Surgical reported fourth quarter 2025 net sales of $57.8 million, up 18.1% year over year, driven mainly by China, while sales excluding China slipped 2.1% and quarterly adjusted EBITDA reached breakeven. Gross margin impro...
Executive/Board Changes
Staar Surgical Announces Chief Legal Officer Transition Plan
Neutral
Feb 5, 2026
On February 4, 2026, STAAR Surgical Company entered into a letter agreement with Chief Legal Officer and Corporate Secretary Nathaniel Sisitsky providing for his termination of employment, which is being treated as a termination without cause, eff...
Business Operations and StrategyExecutive/Board Changes
Staar Surgical Names Interim Co-CEOs Amid Leadership Transition
Neutral
Feb 2, 2026
On February 1, 2026, STAAR Surgical’s board appointed President and Chief Operating Officer Warren Foust and Chief Financial Officer Deborah Andrews as interim co-chief executive officers, following the previously announced resignation of CE...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Staar Surgical appoints new board chair, restructures committees
Positive
Jan 16, 2026
On January 15, 2026, STAAR Surgical Company’s board elected Neal C. Bradsher, founder and president of Broadwood Capital, Inc., as Board Chair and restructured the leadership and composition of its three standing committees—Audit, Comp...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Staar Surgical reshapes board under new investor agreement
Neutral
Jan 15, 2026
On January 14–15, 2026, STAAR Surgical entered into a cooperation agreement with major shareholder Broadwood Partners that triggered a broad reshaping of its board and leadership structure, including expanding the board from six to seven mem...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.