STAA - STAAR Surgical misses Q2 top and bottom line estimates; updates FY23 outlook

2023-08-02 17:36:55 ET

• STAAR Surgical press release ( NASDAQ: STAA ): Q2 Non-GAAP EPS of $0.19 misses by $0.11 .
• Revenue of $92.3M (+13.8% Y/Y) misses by $0.23M .
• Cash, Cash Equivalents and Investments Available for Sale Ended the Quarter at $209.5 Million
• Accounting adjustments related to Other Products resulted in Adjusted Net Sales of $93.0 Million; Adjusted Gross Profit Margin of 79.8%.
• Frinzi said, “Given increased conservatism related to the global environment, and a revised near-term outlook for U.S. growth, we are updating our fiscal 2023 ICL sales outlook to a range of approximately $320 million to $325 million. At the mid-point of the range, our outlook represents approximately 20% growth over fiscal 2022 ICL sales of approximately $270 million."

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