BofA warns Fed risks policy mistake with early rate cuts
LAKE FOREST, Calif. - STAAR Surgical Company (NASDAQ:STAA) reported first quarter results that missed analyst expectations and withdrew its previous financial guidance, citing economic uncertainty and tariff policy challenges.
STAA shares were trading 7.4% lower in after-hours Wednesday folllowing the release.
The implantable lens maker posted a net loss of $54.2 million, or $1.10 per share, compared to a loss of $3.3 million, or $0.07 per share, in the year-ago quarter. Adjusted earnings per share came in at a loss of $0.53, missing the analyst consensus estimate of a $0.58 loss.
Revenue fell 45% YoY to $42.6 million, though it exceeded Wall Street forecasts of $40.33 million. The company said the decline was primarily due to a planned reduction of channel inventory in China.
"Our results do not reflect the earnings power of our business or the strength of our brand," said CEO Stephen C. Farrell. "We are making progress working through transitory challenges in our China business, and importantly, we believe that EVO ICL (TASE:ICL) procedure volumes in China are improving compared to the first quarter last year, despite the macroeconomic headwinds."
STAAR withdrew its previous financial outlook for 2025, citing global economic uncertainty and evolving tariff policies that make forecasting more challenging. The company said it is implementing cost controls and restructuring activities to reduce its SG&A run rate.
Despite the near-term headwinds, Farrell expressed optimism about STAAR’s long-term prospects, citing the company’s technology, market share gains, and large addressable market supported by the expanding incidence of myopia.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.