The headline 111% revenue growth is misleading as it compares to a severely depressed prior-year quarter in China. Focus on the 6% ex-China growth and the sustainability of China's recovery. The Q3 2025 comp includes a $25.9M one-time order, so Q3 2026 will likely show a sequential decline from Q2 2026 levels. Monitor the Q3 2026 report for underlying demand trends and margin trajectory.
Price Chart
Executive Summary
STAAR Surgical reported Q2 2026 net sales of $93.5M (+111% YoY) and GAAP EPS of $0.16, swinging from a net loss of -$0.34 per share a year ago. The headline revenue growth is almost entirely driven by a China recovery from a severely depressed prior-year base (China sales up 888% YoY), while ex-China sales grew only 6% YoY. The company provided no formal quantitative guidance, but management commentary on seasonality and a non-recurring $25.9M order in Q3 2025 suggests Q3 2026 YoY comparisons will be challenging. The stock is likely to trade on the underlying ex-China growth trajectory and the sustainability of China momentum rather than the headline 111% growth figure.
Key Financial Metrics
Key Facts
- Net sales of $93.5M, up 111% YoY from $44.3M
- GAAP net income of $8.1M ($0.16/diluted share) vs net loss of -$16.8M (-$0.34) a year ago
- China sales of $52.3M, up 888% YoY from a depressed $5.3M base; ex-China sales grew only 6% YoY to $41.2M
- Gross margin improved to 74.5% from 74.0% a year ago
- Operating income of $10.1M vs operating loss of -$30.0M a year ago
- Adjusted EBITDA of $20.0M ($0.39/diluted share) vs Adjusted EBITDA loss of -$14.8M (-$0.30) a year ago
- Cash and investments of $181.5M, up from $163.9M at Q1 2026 end; no debt
- Company flagged that Q3 2025 included a non-recurring $25.9M order, making Q3 2026 YoY comparisons difficult
- No formal quantitative guidance provided; management commentary described seasonal patterns in China
Financial Impact
Revenue of $93.5M vs $90.6M consensus (beat by ~3.2%); GAAP EPS of $0.16 vs consensus of $0.23 (miss by ~30%)
Risk Factors
- China revenue growth may decelerate as prior-year comparisons normalize
- Ex-China growth of only 6% suggests limited diversification beyond the China recovery
- Tariff exposure on U.S.-manufactured product sold to China until Swiss manufacturing is fully ramped
- No formal guidance creates uncertainty around future quarters
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000718937-26-000036 |
| Document: staa-20260812.htm | 0000718937-26-000036 |
| Document: 0000718937-26-000036-index-headers.html | 0000718937-26-000036 |
| Document: 0000718937-26-000036-index.html | 0000718937-26-000036 |
| Document: 0000718937-26-000036.txt | 0000718937-26-000036 |
| 8-K Data (Synthetic) | 0000718937-26-000036 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 12, 2026 10w ago | 8-K | $25.33 | awaiting T+60 | — | $24.02 (−5.18%) |
Aug 6, 2026 11w ago | 8-K | $23.12 | awaiting T+60 | — | $24.02 (+3.88%) |
Jun 22, 2026 18w ago | 8-K | $28.36 $22.41 | ▼ −20.98% | ▼ −24.23% | $24.02 (−15.31%) |
Jun 11, 2026 19w ago | Institutional Cluster | $28.90 $23.47 | ▲ +18.79% | ▲ +23.18% | $24.02 (+16.89%) |
May 13, 2026 23w ago | 8-K | $32.01 $25.12 | ▼ −21.52% | ▼ −25.11% | $24.02 (−24.97%) |
Apr 8, 2026 28w ago | 8-K | $25.21 $27.34 | ▲ +8.45% | ▼ −2.33% | $24.02 (−4.73%) |
US Market Status
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