STAAR Surgical Posts Record Q1 Net Sales and Margins as Lens-Based Vision Correction Gains Global Momentum

Record Net Sales and Profitability Mark a Major Turnaround

STAAR Surgical (NASDAQ: STAA) has set a new benchmark in its first quarter of 2026, reporting net sales of $93.5 million—the highest first-quarter figure in company history and a 119.6% increase from a year prior. This dramatic surge signals not just a rebound, but a decisive pivot to profitable growth after a challenged 2025. STAAR’s gross margin expanded sharply to 73.6% (from 65.8%), and the company returned to profitability with a $5.2 million net income, compared to a $(54.2) million net loss in Q1 2025.

China and U.S. Markets Drive the Comeback

The engine behind these results? A powerful combination of robust demand in China—where STAAR’s in-market sales rebounded and inventory levels normalized—and accelerating adoption in the U.S., where quarterly net sales surpassed $6 million for the first time. Excluding China, STAAR’s net sales grew 6% year-over-year, while the U.S. business posted a 22% jump thanks to increasing preference for lens-based refractive solutions. Early success of the premium EVO+ ICL product in China and FDA expansion of EVO ICL indications in the U.S. are fueling this growth.

Disciplined Execution Yields Operating Leverage and Margin Expansion

Profitability improvements aren’t just about higher revenues—STAAR also tightened expenses across the board. Total operating expenses dropped 28.7% year-over-year, driven by lower spending on outside services, advertising, and restructuring costs. Adjusted EBITDA swung to $24.4 million from a $(26.3) million loss, with adjusted EBITDA margin reaching 26.1%. The company’s manufacturing capability in Switzerland now supplies all lenses shipped to China, removing tariff headwinds and increasing cost efficiency.

Lens-Based Surgery Surpasses Laser: A Market at an Inflection Point

Global trends show a clear shift from laser-based to lens-based refractive procedures. STAAR is capturing this momentum with its EVO and EVO+ ICL platforms, now surpassing 4 million units sold worldwide. In China, the market’s structural rebound is supported by improved end-user demand, while rising myopia prevalence worldwide (projected to impact half the global population by 2050) bolsters long-term prospects. In the U.S., declining laser-based procedures have coincided with STAAR’s expanding market share, indicating a fundamental transformation in patient and surgeon preferences.

Financial Position Remains Strong

STAAR ended Q1 with $163.89 million in cash, cash equivalents, and investments, and remains debt-free. This financial flexibility supports continued investment in product innovation, operational scalability, and targeted marketing as competition intensifies.

Looking Ahead: Positioned for Sustained Growth and Innovation

With operational disruptions in the rearview, China demand returning, product launches gaining traction, and foundational ERP systems rolling out, STAAR’s leadership believes the company is well positioned for the rest of 2026 and beyond. The focus remains steady: accelerating revenue growth in key markets, sustaining margin gains, and bringing new products to market at a time when global demand for lens-based solutions is climbing.

Key Takeaway

STAAR Surgical has moved swiftly from recovery into a new phase of expansion in the rapidly evolving market for refractive surgery. The company’s ability to align cost discipline with innovation and capitalize on structural shifts toward lens-based vision correction may offer a compelling example for investors seeking signs of durable growth in medical device markets.

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