BUSINESS STAAR Surgical Announces 2Q 2022 Increases in Net Sales and ICL Units, Plus a Partnership With Joe Jonas By Staff Friday, August 12, 2022 12:21 AM LAKE FOREST, Calif.—STAAR Surgical (NASDAQ: STAA), based here, reported record net sales and a record number of ICL (Implantable Collamer Lens) units sold during the second quarter which ended July 1, 2022. The company posted 2Q net sales of $81.1 million, up 30 percent compared to $62.4 million reported in the prior year quarter. STAAR Surgical attributed the sales increase to ICL sales and unit growth of 32 percent and 42 percent, respectively, as compared to the prior year period.Other product sales increased 1 percent compared to the prior year quarter. ICL sales were 96 percent of total net sales for the second quarter of 2022. Changes in currency, primarily in the Japanese Yen as well as the Euro, negatively impacted reported total net sales by $3.1 million for the second quarter of 2022, the company said. Caren Mason, president and CEO of STAAR Surgical, said, “We achieved 30 percent sales growth and a record level of sales in the second quarter while advancing our EVO (Evolution in Visual Freedom) ICL family of lenses including in China and the U.S., the two largest market opportunities for refractive vision correction. The entire STAAR organization is energized by our ability to effectively manage COVID-19 challenges during the quarter, exceed our growth commitments and vault to a new record level of $81.1 million in quarterly net sales despite foreign currency headwinds. Joe Jonas. “In the second quarter, we achieved strong global ICL unit growth up 42 percent highlighted by unit growth in China up 45 percent, the U.S. up 36 percent, Japan up 41 percent, India up 181 percent and Asia Pacific distributor markets up 66 percent, all as compared to the prior year quarter. We are very proud to achieve the second quarter milestone results while also holding fast to our culture of quality and manufacturing excellence which contributed to our official five-year MDR Certification on July 15, 2022,” Mason said. He continued, “The U.S. commercial launch of our EVO family of myopia lenses is well underway, and we are thrilled to announce our partnership today with Joe Jonas, who earlier this month received EVO lenses to correct his distance vision. In the next several weeks, Joe will begin sharing his journey to visual freedom via a global advertising, marketing and social media campaign. Our goal in the U.S. is to drive awareness and education of the benefits and visual freedom offered by our lenses. "Joe Jonas needed EVO lenses below -5.0 diopters to correct his myopia and he chose EVO. He is thrilled with the outcome which further demonstrates that EVO is an excellent solution for achieving visual freedom at all approved levels—low, mid and high, along the diopter curve. Next month we will showcase our entire EVO Family of Lenses at our Experts Meeting and the 40th Annual Congress of the European Society of Cataract and Refractive Surgeons in Milan, Italy where we will feature Viva, an innovative lens for individuals with presbyopia,” Mason said. STAAR reported cash and cash equivalents at July 1, 2022 totaling $202.5 million compared to $199.7 million at Dec. 31, 2021. The company reaffirmed its outlook for fiscal 2022, which forecasts net sales of approximately $295 million.