STAAR SURGICAL Reports 13.8% Increase in Total Revenue for Q2 2023
August 7, 2023
☀️Earnings Overview
STAAR SURGICAL ($NASDAQ:STAA) reported total revenue of USD 92.3 million for the quarter ending June 30 2023, an increase of 13.8% from the same quarter in the previous year. However, net income for the period was USD 6.1 million, a decrease of 53.5% from the same quarter in the prior year.
Analysis
GoodWhale conducted an analysis of STAAR SURGICAL‘s wellbeing and, according to the Star Chart, STAAR SURGICAL has a high health score of 10/10 in terms of its cashflows and debt. This allows them to safely ride out any crisis without the risk of bankruptcy. The type of investor that may be interested in such a company would be those looking for strong assets, growth, and profitability. While STAAR SURGICAL may not be the best option for investors looking for dividends, it still offers a solid opportunity for those looking for above-average returns. Furthermore, STAAR SURGICAL’s strong assets and competitive advantage make it a relatively safe investment for those looking to mitigate risk. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Staar Surgical. More…
| Total Revenues | Net Income | Net Margin |
| 305.92 | 24.89 | 8.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Staar Surgical. More…
| Operations | Investing | Financing |
| 15.68 | -128.46 | 5.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Staar Surgical. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 440.65 | 86.95 | 7.32 |
Key Ratios Snapshot
Some of the financial key ratios for Staar Surgical are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.3% | 95.5% | 8.5% |
| FCF Margin | ROE | ROA |
| -0.2% | 4.7% | 3.7% |
Peers
Its competitors are Atrion Corp, Implanet SA, Edwards Lifesciences Corp.
– Atrion Corp ($NASDAQ:ATRI)
Atrion Corporation is a medical device company that develops and manufactures products for use in cardiovascular, ophthalmology, and renal applications. The company has a market cap of 1.1 billion and a return on equity of 9.79%. Atrion’s products are used in procedures such as cardiac surgery, cataract surgery, and dialysis. The company’s products are sold in over 50 countries worldwide.
– Implanet SA ($OTCPK:IMPZY)
Implanet SA is a medical device company that designs, develops, and markets orthopedic implants for the treatment of spine pathologies and trauma. As of 2022, Implanet SA has a market cap of 5.32M and a Return on Equity of -114.56%. The company’s products are used in the treatment of degenerative diseases, deformities, tumors, and trauma.
– Edwards Lifesciences Corp ($NYSE:EW)
Edwards Lifesciences Corp is a global leader in cardiovascular care, helping people live longer, healthier lives. The company’s products and technologies are used by healthcare professionals to treat some of the most serious and life-threatening cardiovascular conditions. Edwards Lifesciences has a market cap of 42.38B as of 2022 and a ROE of 18.9%. The company’s products are used by healthcare professionals to treat cardiovascular conditions such as heart failure, valve disease, and sepsis.
Summary
STAAR SURGICAL, a publically-traded company, reported total revenue of USD 92.3 million for the quarter ending June 30 2023, representing an increase of 13.8% from the same period in the prior year. However, the company’s net income for the period was USD 6.1 million, a decrease of 53.5% compared to the same quarter in the prior year. Investing analysis of STAAR SURGICAL suggests that while the company is generating increased revenue, their net income is taking a hit due to higher operational costs. Investors should consider this when making decisions about whether or not to invest in STAAR SURGICAL.
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