STAAR SURGICAL CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data STAAR SURGICAL CO files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	82.4	90.6	124	150	163	230	239	322	314	239
Cost of revenue	24.1	26.3	32.4	38.2	45.1	51.8	61	69.8	74.3	57
Gross profit	58.4	64.3	91.5	112	118	179	223	253	240	182
Research and development	20.7	20	22	25.3	31.9	33.9	36	40.5	45.3	40.1
Selling, general and administrative	71	67.9	84.9	100	112	145	180	225	252	274
Selling and marketing	28.7	28.4	38.6	45.5	45.8	67.3	88.9	112	117	103
General and administrative	21.7	19.5	24.3	29.3	33.9	44.1	54.7	72.3	89.9	85.8
Operating income	-12.7	-3.63	6.6	11.9	6.77	33.3	43.8	28.1	-12.6	-91.7
Interest expense	0.11	0.11
Interest income	0
Other non-operating income	0.21	1.34	0.04	1.17	1.5	-2.04	1.75	5.6	3.56	9.45
Pre-tax income	-12.4	-2.3	6.64	13	8.27	31.3	45.6	33.7	-9.05	-82.3
Income tax	-0.32	-0.16	1.67	-1.02	2.35	3.79	5.89	12.3	11.2	-1.82
Net income	-12.1	-2.14	4.97	14	5.91	27.5	39.7	21.3	-20.2	-80.4
EBITDA	-9.99	-0.5	9.03	15.5	9.83	36.9	48.3	33.2	-5.72	-83.4
EPS, basic	-0.34	-0.06	0.13	0.36	0.15	0.58	0.83	0.44	-0.41	-1.62
EPS, diluted	-0.34	-0.06	0.12	0.34	0.13	0.56	0.80	0.43	-0.41	-1.62
Shares, basic (weighted)	36	36.6	38	39.7	40.7	47.2	48	48.5	49.1	49.6
Shares, diluted (weighted)	36	36.6	40.4	41.9	42.8	49.5	49.4	49.4	49.1	49.6

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	14	18.5	104	120	152	200	86.5	183	144	153
Short-term investments							125	37.7	86.3	34.4
Receivables	16.3	17.9	25.9	31	35.2	43.5	62.4	94.7	77.9	50.1
Other current assets	0.48	0.2	0.31	0.45	1.06	0.64	0.81	0.76	1	0.37
Total current assets	49.5	53.9	152	175	216	271	312	365	368	312
Property, plant and equipment	11.8	9.78	11.5	17.1	24	35.9	50.9	66.8	84.9	73.3
Lease right-of-use assets				6.68	8.76	31.3	34.4	34.4	36.9	29.6
Goodwill	1.79	1.79	1.79	1.79	1.79	1.79	1.79	1.79	1.79	1.79
Intangible assets	0.47	0.27	0.24	0.3	0.27	0.22	0.17
Long-term investments							13.9	11.7
Other non-current assets	0.77	0.97	1.01	0.75	0.61	0.82	0.96	3.34	1.47	1.35
Total assets	65.5	67.9	167	208	257	346	419	489	510	452
Accounts payable	8.31	6.03	6.52	8.05	7.47	8.7	11.6	13.6	16.7	11.6
Total current liabilities	21.1	19.1	27.7	34.5	41.2	48.8	51.7	65	70.3	68.5
Lease liabilities				4.09	6.54	28.3	27.1	31.4	34.8	32.5
Total liabilities	27.6	25	34.9	47.6	60.2	87.2	82.7	103	112	107
Paid-in capital	198	205	290	304	338	374	404	437	471	505
Retained earnings	-159	-161	-156	-142	-136	-108	-68.7	-47.4	-67.6	-148
Treasury stock									0	-6.46
Other comprehensive income	-1.05	-1.15	-1.32	-3.05	-5.55	-4.05	0.16	-4.11	-7.03	-6.51
Shareholders' equity	37.9	42.9	132	160	197	262	336	386	397	344
Total equity	37.9	42.9	132	160	197	262	336	386	397	344
Total liabilities and equity	65.5	67.9	167	208	257	346	419	489	510	452
Shares outstanding	0.04	36.9	39.5	40	41.5	47.7	48.2	48.8	49.3	49.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-12.1	-2.14	4.97	14	5.91	27.5	39.7	21.3	-20.2	-80.4
Depreciation and amortization	2.66	3.13	2.43	3.67	3.06	3.61	4.48	5.11	6.89	8.32
Stock-based compensation	8.56	3.16	6.76	10.5	12.1	14.6	20.4	23.5	27.2	30.6
Deferred income tax	-1.36	-0.55	0.44	-3.48	-0.85	-1.52	-2.25	3.26	3.59	-2.92
Change in receivables	-0.77	-1.86	-6.04	-4.5	-3.97	-8.87	-19.6	-32.8	16.5	27.8
Change in inventory	0.21	0.31	-4.19	-0.95	-1.39	0.07	-7.94	-14.4	-10	-17
Change in payables	1.01	-2.5	0.24	1.08	-1.2	0.11	1.81	-0.7	0.08	-5.51
Cash from operations	1.05	2.85	12.8	25.8	21	44	35.7	14.6	15.7	-34.2
Capital expenditures	-3.21	-1.05	-2.25	-10.1	-8.4	-13.6	-18.1	-18.2	-23.4	-5.82
Purchases of investments							-156	-52.3	-80.2	-75.4
Sales and maturities of investments							17.1	144	43.1	124
Cash from investing	-3.21	-1.05	-2.25	-10.2	-8.4	-13.6	-156	74.3	-59.2	46.3
Stock issued	2.44	3.97	72.2	3.46	20.6	19.4	8.42	9.67	7.39	3.47
Share buybacks										-6.46
Cash from financing	2.95	2.44	74.6	0.15	19.6	17.8	8.3	7.42	5.72	-4.56
Exchange rate effect	-0.2	0.28	0.2	0.2	0.37	-0.86	-0.86	0.2	-1.11	1.44
Net change in cash	0.6	4.52	85.4	16	32.5	47.3	-113	96.6	-38.9	8.99
Free cash flow	-2.16	1.81	10.5	15.7	12.5	30.3	17.6	-3.59	-7.67	-40.1
Interest paid	0.11	0.09	0.13	0.11	0.06
Income taxes paid	0.7	0.88	0.64	0.79	1.34	7.47	6.63	2.76	10.9	7.83

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $20.51 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	76.6%	Gross profit / revenue.
Operating margin	4.0%	Operating income / revenue.
EBITDA margin	6.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	5.1%	Pre-tax income / revenue.
Net margin	1.1%	Net income / revenue.
FCF margin	-2.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-1.0%	Cash from operations / revenue.
Effective tax rate	77.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	1.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.8%	Net income / average total assets.
Return on invested capital (ROIC)	5.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	11.3%	Research and development expense / revenue.
SG&A / revenue	72.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	8.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.0%	Capital expenditures / revenue.
D&A / revenue	2.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-23.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-23.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-317.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-13.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	11.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-11.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.66x	Current assets / current liabilities.
Quick ratio	3.81x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	2.47x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	23.1%	Total liabilities / total assets.
Working capital	$269.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$363.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.71x	Revenue / average total assets.
Fixed asset turnover	4.86x	Revenue / average property, plant and equipment.
Receivables turnover	3.45x	Revenue / average receivables.
Days sales outstanding	106 days	365 x average receivables / revenue.
Days payables	62 days	365 x average accounts payable / cost of revenue.
FCF conversion	-175.8%	Free cash flow / net income, when net income is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.07	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$6.59	Revenue / diluted weighted shares.
FCF per share	-$0.13	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.06	Cash from operations / diluted weighted shares.
Book value per share	$7.29	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.25	Tangible book value / shares outstanding.
Cash per share	$3.62	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.03B	Share price x shares outstanding.
Enterprise value	$847.0M	Market cap + total debt - cash - short-term investments.
P/E	268x	Market cap / net income. Only when net income is positive.
P/S	3.03x	Market cap / revenue.
P/B	2.81x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.83x	Market cap / tangible book value, when positive.
EV/Sales	2.49x	Enterprise value / revenue.
EV/EBIT	61.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	38.1x	Enterprise value / EBITDA, when both are positive.
FCF yield	-0.7%	Free cash flow / market cap.
Earnings yield	0.4%	Net income / market cap (the inverse of P/E).

What was STAAR SURGICAL CO's revenue in fiscal 2025?

STAAR SURGICAL CO reported revenue of $239.4M for fiscal 2025, 23.7% lower than the year before.

Was STAAR SURGICAL CO profitable in fiscal 2025?

No. It reported a net loss of $80.4M.

How much free cash flow did STAAR SURGICAL CO generate in fiscal 2025?

Cash from operations of $34.2M minus capital expenditures of $5.8M left free cash flow of -$40.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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