STAAR Surgical Announces Preliminary Results for Fourth Quarter and Fiscal 2023 - Seite 2

Cash, cash equivalents and investments available for sale was approximately $230 million as of December 29, 2023, an increase of approximately $28 million from $201.7 million at September 29, 2023. Accounts receivable was approximately $90 million as of December 29, 2023.

The Company expects to report complete fourth quarter and fiscal year results on or about February 21 and provided today’s information due to investor meetings taking place this week. The financial information in this release is unaudited and subject to adjustment in the final audited financial statements to be filed with the Company’s Annual Report on Form 10-K.

¹ Fiscal 2023 preliminary net sales of approximately $322.5 million includes approximately $3 million of low margin Other Products Cataract IOLs, a business the Company previously announced it would exit by the end of 2023. Fiscal 2022 reported net sales of $284.4 million included approximately $14 million of Other Products Cataract IOLs. For this reason, ICL sales may be a more insightful growth comparison on a go-forward basis.

² Global ICL unit growth exceed refractive industry growth by 38 points (2021); 28 points (2022) and 26 points (2023). The Company estimates global refractive industry procedures increased 10% (2021); increased 5% (2022); and decreased 7% (2023) Y/Y based on data available as of January 2, 2024.

³ The Company estimates China and U.S. refractive procedures will be approximately flat Y/Y in 2024 as of January 2, 2024.

About STAAR Surgical

STAAR, which has been dedicated solely to ophthalmic surgery for over 40 years, designs, develops, manufactures and markets implantable lenses for the eye. These lenses are intended to provide visual freedom for patients, lessening or eliminating the reliance on glasses or contact lenses. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR’s lens used in refractive surgery is called an Implantable Collamer Lens or “ICL,” which includes the EVO ICL product line. More than 2,500,000 ICLs have been sold to date and STAAR markets these lenses in over 75 countries. To learn more about the ICL go to: EVOICL.com. Headquartered in Lake Forest, CA, the company operates manufacturing and packaging facilities in Aliso Viejo, CA, Monrovia, CA and Nidau, Switzerland. For more information, please visit the Company’s website at www.staar.com.