STAAR Surgical Company reported its financial results for the third quarter of 2025, revealing a net income of $8.9 million, or $0.18 per share, compared to a net income of $10.0 million, or $0.20 per share, in the same period last year. For the nine months ended September 26, 2025, the company experienced a significant net loss of $62.1 million, or $(1.26) per share, compared to a net income of $14.0 million, or $0.29 per share, for the same period in 2024. The company’s net sales for the third quarter increased by 6.9% to $94.7 million, while year-to-date sales decreased by 31.4% to $181.6 million, primarily due to reduced sales in China.
The financial performance reflects a notable shift in the company's operations, particularly in its sales dynamics in China, where net sales dropped significantly from $154.5 million in the previous year to $60.3 million in the current period. This decline was attributed to distributors in China relying on existing inventory rather than making new bulk purchases, a situation exacerbated by macroeconomic conditions and trade tariffs. However, sales in the Asia Pacific region showed some recovery, with a 6% increase in the third quarter, driven by growth in Korea and Japan.
Strategically, STAAR Surgical is navigating a proposed merger with Alcon Research, LLC, which was announced on August 4, 2025. The merger agreement, which is subject to stockholder approval and regulatory conditions, would see STAAR become a wholly owned subsidiary of Alcon. The company has incurred $5.9 million in professional service expenses related to the merger during the quarter. Additionally, STAAR has undertaken a restructuring initiative aimed at realigning its leadership and reducing costs, resulting in $27.9 million in related charges for the nine months ended September 26, 2025.
Operationally, STAAR Surgical's total current assets decreased to $321.2 million from $367.9 million at the end of the previous fiscal year, while total liabilities also fell to $102.6 million from $112.2 million. The company’s cash and cash equivalents increased to $176.2 million, reflecting a net increase of $32.0 million during the quarter. The company has also focused on expanding its product offerings and geographic reach, with plans to enhance its manufacturing capabilities in Switzerland to mitigate tariff risks and support its growth strategy.
Looking ahead, STAAR Surgical anticipates that its sales will stabilize as it adjusts to the new market conditions in China and continues to implement its strategic initiatives. The company aims to maintain sufficient inventory levels to support surgical procedures while managing distributor relationships to prevent inventory buildup. The successful execution of the merger with Alcon and the ongoing restructuring efforts are expected to play critical roles in the company’s future performance and operational efficiency.
About STAAR SURGICAL CO
STAAR Surgical designs, manufactures, and sells implantable lenses for eye refractive surgery, primarily focusing on phakic intraocular lenses (ICLs) made from proprietary Collamer material. Its products treat myopia, hyperopia, astigmatism, and presbyopia, serving ophthalmic surgeons worldwide. The company emphasizes minimally invasive, reversible procedures, with a competitive edge in safety, clinical efficacy, and innovation, operating globally with a strong regulatory and intellectual property foundation.
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