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Staar Surgical
(NASDAQ:STAA)
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Rating:56Neutral
Price Target:
$32.00
▲(27.59% Upside)
Action:Reiterated
Date:06/23/26
STAA scores as a mixed setup: the strongest driver is improving operating momentum from the latest earnings call (sharp Q1 turnaround and margin recovery), supported by a solid balance sheet with low leverage. Offsetting that, the financial profile still reflects weak profitability and significant negative TTM cash flow, while valuation is challenged by a negative P/E and no dividend support; technicals are only moderately constructive.
Positive Factors
High gross margins
Sustained gross margins near 75–76% indicate strong product economics for ICL lenses. With TTM revenue growth outpacing peers, high per-unit margins create durable operating leverage as volumes recover, supporting long-term profit potential once fixed costs are absorbed.
Negative Factors
Negative cash flow
Material negative operating and free cash flow in the TTM raises sustainability concerns: continued cash burn can force reduced investment, financing needs or dilution if losses reappear. Ability to convert recent EBITDA improvement into durable cash generation is unproven.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins near 75–76% indicate strong product economics for ICL lenses. With TTM revenue growth outpacing peers, high per-unit margins create durable operating leverage as volumes recover, supporting long-term profit potential once fixed costs are absorbed.
Read all positive factors
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 (STAA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.38B
Dividend YieldN/A
Average Volume (3M)672.22K
Price to Earnings (P/E)―
Beta (1Y)1.06
Revenue Growth4.03%
EPS Growth70.55%
CountryUS
Employees1,157
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.42
Shares Outstanding49,788,494
10 Day Avg. Volume733,922
30 Day Avg. Volume672,222
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 Cap0.98
Enterprise Value/Revenue4.68
Enterprise Value/Gross Profit6.13
Enterprise Value/Ebitda-331.28
Forecast
1Y Price Target
$32.60Price Target Upside29.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.71
Revenue Forecast (FY)$331.96M
Staar Surgical Business Overview & Revenue Model
Company Description
STAAR Surgical Company, along with its subsidiaries, specializes in ophthalmological solutions, focusing on the design, development, manufacturing, and commercialization of implantable lenses for vision correction, complete with the sophisticated ...
How the Company Makes Money
STAAR Surgical makes money primarily by selling implantable ophthalmic lenses and related delivery/implantation systems to eye-care providers and distributors. Its main revenue stream is the sale of ICL lenses for refractive surgery (including len...
Staar Surgical Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed a strong operational and financial turnaround in Q1 2026 highlighted by very strong revenue growth (+119.6% YoY), a return to profitability (adjusted EBITDA $24.4M), improved gross margins (73.6% vs. 65.8%), normalized distributor inventories in China, product launches (EVO+), and scalable Swiss manufacturing to avoid tariffs. Management emphasized cost discipline and a clearer path to sustainable profitability. Offsetting factors include geopolitical and regional headwinds (Middle East, India), near-term pricing pressure (ASP down high single digits), some lingering inventory and higher-cost product roll-through impacts, and conservative disclosure (no formal guidance) due to macro uncertainty and limited near-term visibility. Overall, the positive operational and financial momentum materially outweighs the listed challenges, though dependence on China and macro risks warrant continued monitoring.Positive Updates
Strong Revenue Growth
Net sales of $93.5M in Q1 2026, up 119.6% year-over-year, driven primarily by China; China accounted for $47.4M (~50.7% of total net sales). Excluding China, net sales grew 6% YoY.
Negative Updates
Geopolitical and Regional Headwinds
Geopolitical and trade-related disruptions impacted sales in parts of the Middle East and India, reducing net sales by less than $2M in the quarter; these markets remained weak and contributed to muted ex‑China growth dynamics.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Net sales of $93.5M in Q1 2026, up 119.6% year-over-year, driven primarily by China; China accounted for $47.4M (~50.7% of total net sales). Excluding China, net sales grew 6% YoY.
Read all positive updates
Company Guidance
STAAR declined to give formal forward revenue guidance (it would not comment on the ~$311–312M consensus) citing macro and geopolitical uncertainty, saying only that it expects a "good" Q2, is cautious on Q3, and will provide guidance once visibility improves; instead management reiterated operating targets and metrics for 2026: a spending target of $225 million and a gross margin objective around 75% (with hope to exit the year at that level). The company emphasized Q1 results that underpin its outlook—net sales $93.5M (+119.6% YoY) including China $47.4M and U.S. >$6M (+22% YoY), adjusted EBITDA $24.4M (vs. -$26.3M prior), gross margin 73.6% (vs. 65.8%), operating income $8.0M (vs. -$57.4M), net income $5.2M or $0.10/diluted share (vs. -$54.2M or -$1.10), cash and investments $163.9M with no debt, distributor inventory aligned to ~6‑month contractual targets, and plans for Nidau to supply 100% of EVO/EVO+ to China in 2026; management expects to rebuild cash later in the year and will formalize guidance when it has clearer visibility.Staar Surgical Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 290.38M | 239.44M | 313.90M | 322.42M | 284.39M | 230.47M |
| Gross Profit | 221.94M | 182.42M | 239.58M | 252.65M | 223.38M | 178.64M |
| EBITDA | -4.11M | -73.53M | -2.16M | 38.82M | 50.06M | 34.98M |
| Net Income | -21.03M | -80.45M | -20.21M | 21.35M | 39.66M | 27.51M |
Balance Sheet | ||||||
| Total Assets | 451.12M | 461.62M | 509.52M | 488.69M | 418.82M | 345.78M |
| Cash, Cash Equivalents and Short-Term Investments | 163.89M | 187.54M | 230.49M | 220.73M | 211.64M | 199.71M |
| Total Debt | 37.29M | 38.35M | 38.74M | 35.83M | 31.04M | 32.06M |
| Total Liabilities | 98.75M | 117.44M | 112.19M | 102.74M | 82.71M | 87.22M |
| Stockholders Equity | 352.37M | 344.18M | 397.33M | 385.95M | 336.11M | 258.56M |
Cash Flow | ||||||
| Free Cash Flow | -54.99M | -40.05M | -7.67M | -3.59M | 17.61M | 30.32M |
| Operating Cash Flow | -50.19M | -34.23M | 15.72M | 14.59M | 35.72M | 43.96M |
| Investing Cash Flow | 13.13M | 46.34M | -59.22M | 74.35M | -156.38M | -13.64M |
| Financing Cash Flow | -5.30M | -4.55M | 5.72M | 7.42M | 8.30M | 17.79M |
Staar Surgical Technical Analysis
Neutral
25.08
Price Trends
29.17
Negative
24.90
Positive
24.46
Positive
Market Momentum
-0.38
Positive
45.27
Neutral
43.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For STAA, the sentiment is Neutral. The current price of 25.08 is below the 20-day moving average (MA) of 28.56, below the 50-day MA of 29.17, and above the 200-day MA of 24.46, indicating a neutral trend. The MACD of -0.38 indicates Positive momentum. The RSI at 45.27 is Neutral, neither overbought nor oversold. The STOCH value of 43.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for STAA.
Staar Surgical Risk Analysis
Staar Surgical disclosed 42 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 |
|---|---|---|---|---|---|---|---|
65 Neutral | $5.39B | 33.57 | 9.63% | 0.29% | 15.54% | 21.77% | |
57 Neutral | $13.79B | 60.15 | 2.84% | ― | 6.09% | -42.65% | |
56 Neutral | $1.38B | -65.67 | -6.07% | ― | 4.03% | 70.55% | |
56 Neutral | $5.79B | -26.16 | -3.41% | ― | 7.85% | 39.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
STAA
Staar Surgical
27.76
10.46
60.46%
COO
Cooper Co
70.70
-2.91
-3.95%
STVN
Stevanato Group
19.59
-5.97
-23.35%
BLCO
Bausch + Lomb Corporation
16.23
2.55
18.64%
Staar Surgical Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Staar Surgical Shareholders Approve Expanded Equity Incentive Plan
Positive
Jun 22, 2026
On June 18, 2026, STAAR Surgical held its 2026 Annual Meeting of Shareholders, where investors approved an amendment to the company’s Amended and Restated Omnibus Equity Incentive Plan, increasing the shares of common stock reserved for issu...
Business Operations and StrategyExecutive/Board Changes
STAAR Surgical Raises Pay for Interim Co-CEO Andrews
Positive
Jun 9, 2026
On June 8, 2026, STAAR Surgical Company’s Compensation Committee approved an increase in the annual base salary of Interim Co-Chief Executive Officer and Chief Financial Officer Deborah Andrews from $512,000 to $575,000. The committee also r...
Business Operations and StrategyFinancial Disclosures
Staar Surgical Reports Record Q1 Sales and Profitability
Positive
May 13, 2026
On May 13, 2026, STAAR Surgical reported record first‑quarter 2026 net sales of $93.5 million, up 119.6% year over year, driven largely by a recovery in China and strong U.S. growth, and returned to profitability with net income of $5.2 mill...
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 ...
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.