STAAHIGH SIGNALFINANCIAL10-K

STAAR Surgical experienced severe financial deterioration with revenue declining 24% while operating losses exploded from -$12.6M to -$91.7M, compounded by the termination of its Alcon merger agreement.

The company faces a critical inflection point as core business performance collapsed across all key metrics while losing a major strategic exit opportunity. The combination of deteriorating fundamentals and failed M&A suggests significant operational challenges that management must address urgently to restore investor confidence.

Comparing 2026-03-03 vs 2025-02-21View on EDGAR →
FINANCIAL ANALYSIS

STAAR's financial performance deteriorated dramatically with revenue falling 24% to $239.4M while operating losses ballooned over 600% to -$91.7M, driving the company from marginal positive operating cash flow to -$34.2M. The decline was broad-based, affecting gross profit (-24%), accounts receivable (-36%), and stockholder equity (-13%), while the company sharply reduced capital expenditures by 75%. This financial deterioration, combined with the failed Alcon merger, signals serious operational challenges that require immediate management attention and likely restructuring efforts.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
-627.2%
-$12.6M→-$91.7M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Operating Cash Flow
Cash Flow
-317.7%
$15.7M→-$34.2M

Operating cash flow fell 317.7% — earnings quality concerns; investigate working capital changes and non-cash items.

Net Income
P&L
-298.1%
-$20.2M→-$80.4M

Net income declined 298.1% — review whether driven by operations, interest costs, or non-recurring items.

Capital Expenditure
Cash Flow
-75.1%
$23.4M→$5.8M

Capex reduced 75.1% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Accounts Receivable
Balance Sheet
-35.7%
$77.9M→$50.1M

Receivables declined — improved collection efficiency or conservative revenue recognition.

R&D Expense
P&L
-25.8%
$54.0M→$40.1M

R&D spending cut 25.8% — could signal cost discipline or concerning reduction in innovation investment.

Gross Profit
P&L
-23.9%
$239.6M→$182.4M

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Revenue
P&L
-23.7%
$313.9M→$239.4M

Revenue softened 23.7% — monitor whether this is cyclical or structural.

Current Assets
Balance Sheet
-15.3%
$367.9M→$311.5M

Current assets declined 15.3% — monitor working capital adequacy and short-term liquidity.

Stockholders Equity
Balance Sheet
-13.4%
$397.3M→$344.2M

Equity decreased 13.4% — buybacks or losses reducing book value, monitor solvency ratios.

LANGUAGE CHANGES
NEW — 2026-03-03
PRIOR — 2025-02-21
ADDED
The registrant has 49,888,379 and 49,512,749 shares of common stock, par value $0.01 per share, issued and outstanding, respectively, as of February 27, 2026.
For the fiscal year ended January 2, 2026, approximately 100% of our net sales were generated from sales of ICLs.
For the fiscal year ended January 2, 2026, the Company generated 91% of its reported worldwide revenue from product sales outside the United States.
STAAR products have been sold in more than 85 countries, with direct distribution (i.e., via STAAR representatives) in Japan, the U.S., Germany, Spain, Singapore, Canada, and the U.K., with a combination of direct distribution and independent distribution (i.e., via distributors and STAAR representatives) in China, Korea, India, France, Benelux, and Italy, and with independent distribution in the remainder of the countries where we sell.
STAAR operates administrative, distribution, operational and manufacturing facilities in Br gg and Nidau, Switzerland under its wholly owned subsidiary, STAAR Surgical AG.
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REMOVED
The registrant has 49,325,372 shares of common stock, par value $0.01 per share, issued and outstanding as of February 18, 2025.
For the fiscal year ended December 27, 2024, approximately 100% of our net sales were generated from sales of ICLs.
For the fiscal year ended December 27, 2024, the Company generated 94% of its reported worldwide revenue from product sales outside the United States.
STAAR sells its products in more than 75 countries, with direct distribution (i.e., via STAAR representatives) in Japan, the U.S., Germany, Spain, Singapore, Canada, and the U.K., with a combination of direct distribution and independent distribution (i.e., via distributors and STAAR representatives) in China, Korea, India, France, Benelux, and Italy, and with independent distribution in the remainder of the countries where we sell.
STAAR operates an administrative, distribution and operational facility in Br gg, Switzerland under its wholly owned subsidiary, STAAR Surgical AG.
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