Staar Surgical (STAA) AI Stock Analysis

• Market Cap: $952.06M
• Dividend Yield: N/A
• Average Volume (3M): 1.52M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.76
• Revenue Growth: -32.42%
• EPS Growth: -540.37%
• Country: US
• Employees: 1,157
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.34
• Shares Outstanding: 49,741,955
• 10 Day Avg. Volume: 1,523,288
• 30 Day Avg. Volume: 1,515,980
• PEG Ratio: 0.30
• Price to Book (P/B): 2.99
• Price to Sales (P/S): 3.79
• P/FCF Ratio: -155.08
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 3.50
• Enterprise Value/Gross Profit: 4.74
• Enterprise Value/Ebitda: -14.90
• 1Y Price Target: $21.92
• Price Target Upside: -13.19% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $20.50 ▼(-18.81% Downside)

The score is primarily held down by poor financial performance (large losses and negative operating cash flow) and a bearish technical setup (below key moving averages with negative MACD). Valuation provides limited support given the negative P/E and no dividend, while corporate events are mixed with improved governance but heightened strategic uncertainty after the terminated merger.

Positive Factors

Proprietary product platform

Staar’s proprietary Visian/EVO ICL platform is a durable technological moat driving procedure-based demand. Implantable lenses create recurring surgeon adoption, clinical familiarity, and high switching costs versus non‑implant alternatives, supporting sustainable topline potential and pricing power.

Global distribution and penetration

Management highlights plans to expand global EVO ICL adoption and distribution. An established international sales and surgeon network enables scalable growth across large refractive markets, improving margin leverage as procedure volumes rise and lowering per‑unit go‑to‑market costs over time.

Conservative capital structure

A low debt-to-equity profile and stable equity ratio provide financial flexibility during turnaround phases. Conservatively leveraged balance sheet reduces refinancing risk and preserves capacity to fund commercialization, R&D, or strategic initiatives while addressing operating losses.

Negative Factors

Profitability and cash burn

Deeply negative margins and sustained negative operating cash flow indicate ongoing cash burn that undermines long‑term viability if not reversed. Persistent losses erode reserves, constrain investment in commercialization and R&D, and increase reliance on external financing or cost rationalization to sustain growth.

Revenue contraction

A steep reported revenue decline signals waning demand or market dislocation in core markets. Lower revenue impairs scale economics, pressures gross and operating margins, and lengthens the time to reach sustainable free cash flow, making margin recovery and reinvestment materially harder.

Governance and strategic uncertainty

The rejected Alcon deal and visible activist shareholder engagement create board and leadership uncertainty. That governance friction can distract management, delay clear strategic execution, provoke leadership changes or proxy contests, and slow decisive investments needed to restore growth and profitability.

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 Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia; and Hyperopic ICL, which treats far-sightedness. It also offers preloaded silicone cataract intraocular lenses and injector systems for use in cataract surgery. In addition, the company sells injector parts, and other related instruments and devices. It markets its products to health care providers, including ophthalmic surgeons, vision and surgical centers, hospitals, government facilities, and distributors, as well as products are primarily used by ophthalmologists. The company sells its products directly through its sales representatives in the United States, Japan, Germany, Spain, Canada, the United Kingdom, and Singapore, as well as through own representatives and independent distributors in China, Korea, India, France, Benelux, Italy, and internationally. STAAR Surgical Company was incorporated in 1982 and is headquartered in Lake Forest, California.

How the Company Makes Money

Staar Surgical generates revenue primarily through the sale of its implantable lenses and related ophthalmic surgical products. The company's revenue model is built on direct sales to eye care professionals and clinics, as well as partnerships with ophthalmic surgeons who perform procedures using Staar's products. Key revenue streams include the sale of Visian ICL lenses, which are implanted in patients to correct vision, and ancillary products that support surgical procedures. Additionally, Staar Surgical benefits from strategic collaborations and distribution agreements that expand its market reach and enhance its product offerings, ultimately driving sales and contributing to its financial performance.

Staar Surgical Financial Statement Overview

Summary

Weak profitability and cash generation dominate: TTM net margin is -42.45% with negative EBIT/EBITDA margins and negative operating cash flow. The balance sheet is more stable with low leverage and a solid equity base, but negative ROE and continued cash burn keep the financial profile below average. KPI insights also point to lumpy, internationally driven revenue and forecasting/execution risk.

Income Statement

Staar Surgical's income statement reveals a challenging financial period. The TTM data shows a negative net profit margin of -42.45%, indicating significant losses. Revenue growth is minimal at 2.74%, and both EBIT and EBITDA margins are negative, reflecting operational inefficiencies. Historical data shows a decline from positive margins in previous years, suggesting deteriorating profitability.

Balance Sheet

The balance sheet presents a mixed picture. The debt-to-equity ratio is low, indicating conservative leverage, which is a positive aspect. However, the return on equity is negative in the TTM, highlighting profitability challenges. The equity ratio remains stable, suggesting a solid capital structure despite recent losses.

Cash Flow

Cash flow analysis shows a concerning trend with negative operating cash flow in the TTM, indicating cash burn. Free cash flow has improved, but it remains negative, suggesting liquidity issues. The free cash flow to net income ratio is positive, indicating some efficiency in cash conversion despite overall losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	230.59M	313.90M	322.42M	284.39M	230.47M	163.46M
Gross Profit	170.33M	239.58M	252.65M	223.38M	178.64M	118.36M
EBITDA	-54.23M	-5.72M	33.22M	48.31M	36.98M	9.86M
Net Income	-96.37M	-20.21M	21.35M	39.66M	27.51M	5.91M
Balance Sheet
Total Assets	456.36M	509.52M	488.69M	418.82M	345.78M	257.42M
Cash, Cash Equivalents and Short-Term Investments	192.66M	230.49M	220.73M	211.64M	199.71M	152.45M
Total Debt	39.12M	38.74M	35.83M	31.04M	32.06M	10.80M
Total Liabilities	102.58M	112.19M	102.74M	82.71M	87.22M	60.19M
Stockholders Equity	353.78M	397.33M	385.95M	336.11M	258.56M	197.22M
Cash Flow
Free Cash Flow	-39.54M	-7.67M	-3.59M	17.61M	30.32M	12.55M
Operating Cash Flow	-29.67M	15.72M	14.59M	35.72M	43.96M	20.95M
Investing Cash Flow	46.26M	-59.22M	74.35M	-156.38M	-13.64M	-8.40M
Financing Cash Flow	-4.62M	5.72M	7.42M	8.30M	17.79M	19.57M

Staar Surgical Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For STAA, the sentiment is Negative. The current price of 25.25 is above the 20-day moving average (MA) of 22.04, above the 50-day MA of 24.18, and above the 200-day MA of 22.54, indicating a bearish trend. The MACD of -1.21 indicates Positive momentum. The RSI at 27.57 is Positive, neither overbought nor oversold. The STOCH value of 15.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for STAA.

Staar Surgical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COO	77 Outperform	$15.93B	43.38	4.59%	―	5.06%	-4.47%
HOLX	76 Outperform	$16.74B	30.22	11.12%	―	1.74%	-25.29%
STVN	63 Neutral	$4.71B	30.36	9.81%	0.29%	9.19%	23.06%
MASI	58 Neutral	$7.60B	-13.34	-17.93%	―	-16.03%	-813.48%
BLCO	55 Neutral	$6.01B	-19.66	-4.69%	―	6.23%	17.53%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
STAA	46 Neutral	$952.06M	-9.78	-24.65%	―	-32.42%	-540.37%

Staar Surgical Corporate Events

Staar Surgical appoints new board chair, restructures committees

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, Compensation, and Nominating and Governance—so that each is now chaired and populated by directors the board has determined to be independent under NASDAQ rules, restoring the company’s compliance with NASDAQ’s Audit Committee independence requirements and ending its cure period. On the same date, the board created two new committees: a Search Committee tasked with guiding leadership decisions, including the process to identify a successor to the Chief Executive Officer, and an Insight and Engagement Committee designed to strengthen interaction with management, stakeholders and industry experts, with board members, including the new chair, eligible for additional compensation for these expanded governance responsibilities under the existing non-employee director compensation program.

The most recent analyst rating on (STAA) stock is a Sell with a $13.00 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

Staar Surgical reshapes board under new investor agreement

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 members, appointing Broadwood executives Neal C. Bradsher and Richard T. LeBuhn and Yunqi Capital’s Christopher Wang as new directors, and accepting the resignations of board chair Elizabeth Yeu, MD, and CEO Stephen C. Farrell from the board, with Farrell to remain chief executive until January 31, 2026 and then move into a one-year consulting role with severance and equity treatment consistent with his prior employment agreement. The agreement, which includes customary standstill and non-disparagement provisions and reimbursement of certain investor expenses, consolidates influence for STAAR’s largest shareholders—Broadwood, with 31% of the stock, and Yunqi, with 6.5%—while temporarily leaving the company out of compliance with Nasdaq’s audit committee independence requirements following Yeu’s departure, a deficiency STAAR has notified Nasdaq it intends to cure within the allowed period as the refreshed board moves to name a new chair and CEO and sharpen the company’s profitability and long-term value-creation strategy.

The most recent analyst rating on (STAA) stock is a Sell with a $21.00 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

Staar Surgical shareholders reject merger, company stays independent

On August 4, 2025, STAAR Surgical Company agreed to be acquired by Alcon Research, LLC through a merger with a subsidiary, but the companies terminated the merger agreement effective January 6, 2026, with no termination fees owed by any party and each side bearing its own transaction-related costs. At a special shareholders’ meeting held on January 6, 2026, STAAR investors, representing about 87.9% of the company’s voting power, rejected both the proposal to adopt the merger agreement and the related advisory executive compensation plan, leaving the company to continue independently rather than proceed with the previously announced transaction.

The most recent analyst rating on (STAA) stock is a Hold with a $30.75 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

STAAR Surgical to Terminate Alcon Merger, Stay Independent

On January 6, 2026, STAAR Surgical reported that preliminary voting results from a special meeting of stockholders showed the company did not receive sufficient shareholder support to approve its previously announced merger agreement with Alcon Research. As a result, STAAR intends to terminate the merger agreement without any termination fee due from either party, and will continue as an independent, publicly traded company on Nasdaq under the ticker STAA, with management reaffirming its strategy to pursue profitable sales growth, drive distribution efficiencies, and expand global adoption of its EVO ICL technology as it seeks to maximize long-term shareholder value.

The most recent analyst rating on (STAA) stock is a Hold with a $30.75 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

Staar Surgical Amends Merger Agreement with Alcon

On December 9, 2025, STAAR Surgical Company announced an amendment to its merger agreement with Alcon Research, LLC, increasing the cash consideration for its common stock from $28.00 to $30.75 per share. The amendment also outlines the conversion of restricted stock units to Alcon shares and the elimination of certain tax indemnification arrangements, potentially enhancing shareholder value and streamlining the merger process.

The most recent analyst rating on (STAA) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

Staar Surgical Concludes Go-Shop Period with Alcon

On December 8, 2025, STAAR Surgical Company announced the expiration of its go-shop period, which ended on December 6, 2025, as part of its amended merger agreement with Alcon Inc. During this period, STAAR actively solicited acquisition proposals from 21 third parties but received no competing offers, validating the effectiveness of its board’s sale process. The outcome discredits allegations from Broadwood Partners, L.P. about ignored acquisition interest, confirming Alcon as the best buyer for STAAR.

The most recent analyst rating on (STAA) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

Staar Surgical Amends Merger Agreement with Alcon

On November 7, 2025, STAAR Surgical Company announced an amendment to its merger agreement with Alcon Inc., introducing a 30-day go-shop period allowing STAAR to solicit third-party acquisition proposals. This amendment, which includes no termination fee for accepting a superior proposal and Alcon waiving matching rights, aims to maximize shareholder value by encouraging competitive offers. The special meeting of STAAR stockholders to vote on the merger proposal has been postponed to December 19, 2025, to accommodate this process.

The most recent analyst rating on (STAA) stock is a Hold with a $28.00 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

Staar Surgical Postpones Stockholders Meeting Amid Merger Talks

On October 27, 2025, STAAR Surgical announced the postponement of its special meeting of stockholders, originally scheduled for November 6, 2025, to December 3, 2025, due to ongoing discussions with Alcon regarding a merger agreement. The new record date for voting eligibility is October 24, 2025. This delay reflects the company’s strategic considerations in finalizing the merger, which could significantly impact its market positioning and stakeholder interests.

The most recent analyst rating on (STAA) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.

STAAR Surgical Adjourns Stockholders Meeting for Merger

On October 23, 2025, STAAR Surgical announced the adjournment of its special stockholders meeting, originally scheduled for the same day, to November 6, 2025. This meeting is intended to vote on the merger agreement with Alcon, a global leader in eye care. The adjournment allows more time for stockholders to consider the merger proposal, which could significantly impact STAAR’s operations and market positioning.

The most recent analyst rating on (STAA) stock is a Hold with a $24.50 price target. To see the full list of analyst forecasts on Staar Surgical stock, see the STAA Stock Forecast page.