Staar Surgical (STAA) FY2024 results: revenue $314 million, down 2.6% on the year

Staar Surgical Co. (STAA) reported revenue of $314 million for fiscal 2024, the year ended 27 December 2024, down 2.6% on the year before. Net income was -$20 million, and diluted earnings per share $-0.41. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.

Revenue

$314 million

-2.6% on the year

FY2017FY2024

Operating margin

-4.0%

8.7% a year earlier

FY2017FY2024

Net income

-$20 million

FY2017FY2024

Diluted EPS

-$0.41

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	314	322	284	-2.6%
Cost of revenue	74.3	69.8	61.0	+6.5%
Gross profit	240	253	223	-5.2%
Gross margin	76.3%	78.4%	78.5%
Research and development	45.3	40.5	36.0	+12.0%
Selling, general and administrative	252	225	180	+12.3%
Operating income	-12.6	28.1	43.8
Operating margin	-4.0%	8.7%	15.4%
Pre-tax income	-9.1	33.7	45.6
Income tax	11.2	12.3	5.9	-9.7%
Effective tax rate	n/a	36.6%	12.9%
Net income	-20.2	21.3	39.7
Net margin	-6.4%	6.6%	13.9%
Diluted EPS	-$0.41	$0.43	$0.80

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	15.7	14.6	35.7	+7.7%
Capital expenditure	23.4	18.2	18.1	+28.6%
Free cash flow	-7.7	-3.6	17.6
Free cash flow margin	-2.4%	-1.1%	6.2%
Cash from investing	-59.2	74.3	-156
Cash from financing	5.7	7.4	8.3	-22.8%
Depreciation and amortisation	n/a	5.1	4.5
Share-based compensation	27.2	23.5	20.4	+15.7%
Diluted shares, weighted	49m	49m	49m	-0.6%
Shares outstanding at period end	49m	49m	48m	+0.9%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	397	386	336	+2.9%
Debt	n/a	0.0	0.0
Operating lease liabilities	34.8	31.4	27.1	+10.8%
Finance lease liabilities	n/a	0.0	0.2
Other liabilities	77.4	71.3	55.4	+8.6%
Total liabilities and equity	510	489	419	+4.3%
Fixed assets	84.9	66.8	50.9	+27.0%
Goodwill	1.8	1.8	1.8	0.0%
Intangible assets	n/a	n/a	0.2
Investments	86.3	49.4	139	+74.8%
Cash and equivalents	144	183	86.5	-21.2%
Receivables	77.9	94.7	62.4	-17.7%
Other assets	114	92.9	78.0	+23.2%
Total assets	510	489	419	+4.3%

10-K for the year ended 27 December 2024, filed 21 February 2025: the filing.