STAAR Surgical Reports Strong First Quarter 2026 Results With Record Sales and Return to Profitability
STAAR Surgical Company reported record first quarter 2026 financial results, highlighting significant revenue growth, improved profitability, and continued momentum for its EVO family of Implantable Collamer® Lenses (EVO ICL™). The company also issued a shareholder letter outlining operational progress, strategic priorities, and long-term growth opportunities across global refractive surgery markets.
The company generated first quarter net sales of $93.5 million, representing a 119.6% increase year over year and marking the highest first-quarter revenue in STAAR’s history. Net income reached $5.2 million, or $0.10 per diluted share, compared with a net loss of $54.2 million, or $(1.10) per diluted share, during the same period in 2025. Adjusted EBITDA improved sharply to $24.4 million, or $0.48 per diluted share, compared with an adjusted EBITDA loss of $26.3 million a year earlier.
Management stated that the strong performance reflects improving operational execution, normalized distributor inventory levels in China, expanding surgeon adoption of EVO ICL products, and disciplined expense management.
In a letter to shareholders, Interim Co-Chief Executive Officers Warren Foust and Deborah Andrews said the company has focused on three primary objectives since assuming leadership earlier this year: accelerating revenue growth, expanding profitability, and advancing product innovation.
The executives noted that the organization has stabilized following a difficult 2025 and is now positioned to deliver sustainable long-term growth. They emphasized strong engagement from employees, surgeons, distributors, and investors while highlighting STAAR’s leadership position in lens-based refractive surgery.
Among the company’s key operational achievements during the quarter were record net sales, surpassing 4 million ICLs sold globally, returning to growth in China, launching EVO+ ICL in China, achieving double-digit U.S. sales growth, and returning to profitability.
China remained the largest contributor to growth during the quarter. STAAR said the rollout of EVO+ ICL in China exceeded expectations, supported by strong surgeon adoption and favorable patient response. The premium-priced product is expected to support future margin expansion as volumes increase.
The company also reported meaningful progress in resolving one of its biggest challenges from 2025 — excess distributor inventory in China. Management stated that distributor inventory levels are now within targeted contractual ranges, while in-market procedures and demand have improved.
Executives said the company now has significantly better visibility into downstream inventory trends, enabling more proactive management of the China business. STAAR believes the strong first quarter sales growth in China was driven primarily by improving underlying demand rather than inventory restocking.
Management also noted that refractive surgery conditions in China have stabilized compared with the volatility experienced between 2022 and 2024. Although macroeconomic conditions remain mixed, the company believes long-term demand remains strong due to rising incomes and high rates of myopia throughout the country.
Outside China, STAAR generated net sales of $46.1 million, an increase of 6.0% year over year. Strong growth in the United States partially offset weakness in certain Middle Eastern and Indian markets impacted by macroeconomic and geopolitical challenges.
The United States continued to represent a major strategic growth opportunity for the company. U.S. net sales grew 22% during the first quarter, surpassing $6 million for the first time in company history. Management attributed the growth to rising surgeon adoption of EVO ICL and stronger commercial execution.
STAAR highlighted a broader shift occurring within the refractive surgery market. While traditional laser-based procedures have declined in recent years, lens-based refractive surgery continues to gain momentum globally. The company believes more surgeons and patients are increasingly choosing lens-based solutions because they preserve corneal tissue and offer reversible treatment options.
The company also pointed to recent regulatory progress in the U.S. The FDA recently approved an expanded indication for EVO ICL covering patients aged 45 to 60, increasing the company’s addressable market and supporting future growth potential.
Executives said surgeon engagement at the recent ASCRS conference reinforced growing industry interest in EVO ICL technology. Updated marketing initiatives focused on high-priority surgeons are also helping improve patient awareness and engagement.
STAAR emphasized that the U.S. market remains significantly underpenetrated compared with more mature ICL markets globally, creating a sizable long-term opportunity.
Operationally, the company continues advancing its manufacturing transition in Nidau, Switzerland. Management expects the Swiss facility to supply 100% of EVO ICL and EVO+ ICL lenses shipped to China during 2026, helping the company avoid import tariffs and improve supply chain efficiency.
STAAR is also continuing the rollout of its Oracle enterprise resource planning (ERP) platform, a multi-year operational initiative intended to improve visibility, coordination, and scalability across the organization. Management said the implementation has progressed smoothly with limited business disruption so far.
Gross margin improved significantly during the quarter, reaching 73.6% compared with 65.8% a year earlier. The improvement was driven by reduced manufacturing ramp-up costs in Switzerland, lower inventory provisions, reduced freight expenses, and improved operational efficiency.
Operating expenses declined substantially year over year. Total operating expenses were $60.9 million compared with $85.4 million in the prior-year quarter. Excluding restructuring and merger-related expenses, operating costs declined 18%.
General and administrative expenses fell to $17.0 million due primarily to lower consulting, IT, and compensation-related costs. Selling and marketing expenses decreased to $24.5 million, reflecting reduced advertising and trade show spending, partially offset by higher compensation costs. Research and development expenses also declined modestly during the quarter.
Operating income improved to $8.0 million compared with an operating loss of $57.4 million a year earlier. Management said the return to profitability reflects both higher gross profit and tighter expense control.
The company ended the quarter with $163.9 million in cash, cash equivalents, and investments available for sale. STAAR also reported that it has no outstanding debt, providing flexibility to continue investing in growth initiatives and innovation.
Looking ahead, management said the company remains mindful of macroeconomic uncertainty, geopolitical instability, tariffs, and regional volatility. However, STAAR believes it is well-positioned to capitalize on long-term trends supporting lens-based refractive surgery.
The company specifically identified India as a promising long-term growth market despite near-term pricing sensitivity and economic uncertainty. STAAR plans to continue investing cautiously while building its long-term presence in the region.
Management also highlighted the growing global prevalence of myopia as a major long-term growth driver. According to industry research cited by the company, nearly half of the world’s population is projected to have myopia by 2050. STAAR believes its EVO ICL platform is uniquely positioned to address this expanding need because of its ability to treat a broad range of myopia and astigmatism while preserving corneal tissue and minimizing dry eye complications.
For the remainder of 2026 and beyond, STAAR said it will continue focusing on three strategic priorities: accelerating revenue growth in key markets, improving profitability through disciplined cost management and manufacturing efficiency, and advancing product innovation and pipeline development.
Management concluded that the company’s differentiated Collamer® material technology, growing global adoption, and leadership position in lens-based refractive surgery provide a strong foundation for future long-term value creation.
About STAAR Surgical
STAAR Surgical is the global leader in implantable phakic intraocular lenses, a vision correction solution that reduces or eliminates the need for glasses or contact lenses. Since 1982, STAAR has been dedicated solely to ophthalmic surgery, and for 30 years, STAAR has been designing, developing, manufacturing, and marketing advanced Implantable Collamer® Lenses (ICLs), using its proprietary biocompatible Collamer material. STAAR ICL’s are clinically-proven to deliver safe long-term vision correction without removing corneal tissue or the eye’s natural crystalline lens. Its EVO ICL™ product line provides visual freedom through a quick, minimally invasive procedure. STAAR has sold more than 4 million ICLs in over 85 countries. Headquartered in Lake Forest, California, the company operates research, development, manufacturing, and packaging facilities in California and Switzerland
