周二，眼科镜头制造商Staar Surgical Company（纳斯达克代码：STAA）报告2024年第四季度每股收益亏损69美分，而去年同期为盈利16美分，低于市场预期的亏损16美分。 该公司报告销售额为4895万美元，较去年同期的7630万美元大幅下降，不及市场预期的7730万美元。 销售额下降主要是由于中国收入显著下降，受整体屈光手术量下降趋势恶化的影响。 2024年第四季度，植入型有晶体眼镜（ICL）销售额为4690万美元，而去年同期为7460万美元。 剔除中国市场，ICL销售额为3950万美元，同比增长17%。 2024年12月，该公司向中国出货2750万美元的ICL，但由于与分销商之间的延长付款条款，未确认收入。 该公司决定在2025年下半年需求回升前，将产品留在国内，以减轻地缘政治和关税变化对其潜在影响。 根据延长的付款条款，Staar Surgical预计将在截至2025年9月26日的财季结束前，收到全款并确认这笔收入。 2024年第四季度的毛利率为64.7%，而去年同期为79.6%。 指导意见：Staar Surgical预计2025年的ICL销售额（不包括中国市场）约为1.65亿美元至1.75亿美元，增长约9%至15%，假设美洲地区的整体屈光手术量将下降5%至10%；EMEA地区将保持持平；亚太地区（不包括中国）将持平。 中国ICL销售额将在2025年上半年低于500万美元，因为公司正在解决库存积压问题，同时市场对屈光手术需求疲软。 该公司预计2025年下半年中国的ICL销售额约为7500万至1.25亿美元，具体取决于中国市场的屈光手术量，而公司认为低端市场可能会下降10%。 该范围的高端则考虑到整体屈光手术量将增长10%。 2025财年，公司将根据收入预期降低的情况管理营运资金，并采取适当的成本削减措施。 该公司计划降低生产产量，减少资本支出，并有针对性地削减运营费用，这将影响员工数量和可自由支配的支出。 根据公司对2025财年的展望，Staar Surgical不再预计能实现其最初于2023年9月宣布的“2026愿景目标销售和运营模型”。 由于缺乏可见性、迄今为止的刺激措施存在不确定性，以及竞争日益激烈，再加上2025年全球屈光手术市场似乎将再次收缩，William Blair将Staar Surgical的评级下调为市场表现评级。 价格变动：在周三盘前交易中，Staar Surgical的股价下跌38.6%，至13.44美元。

以上内容来自Benzinga Earnings专栏，原文如下：

On Tuesday, Staar Surgical Company (NASDAQ:STAA) reported a fourth-quarter 2024 EPS loss of 69 cents, a turnaround from an income of 16 cents, missing the consensus loss of 16 cents.

The contact lens maker reported sales of $48.95 million, compared to $76.3 million in the prior year quarter, missing the consensus of $77.3 million.

The decrease was due to a significant decline in China revenue, driven by worsening trends in overall refractive procedure volumes.

Implantable Collamer Lens (ICL) sales were $46.9 million for the fourth quarter of 2024 compared to $74.6 million in the prior year quarter.

Also Read: Morgan Stanley Maintains Positive MedTech Outlook Despite Setbacks in 2024, Upgrades Intuitive Surgical And Stryker, Downgrades Nevro And Glaukos

Excluding China, ICL sales were $39.5 million, an increase of 17%.

In December 2024, the company shipped $27.5 million of ICLs to China, for which it did not recognize revenue due to extended payment terms with its distributor.

The company determined to keep product in-country before the anticipated demand rebound in the second half of 2025 and mitigate potential impacts from geopolitical and tariff changes.

Based on the extended payment terms, Staar Surgical expects to receive full payment and fully recognize this revenue by the end of the fiscal quarter ending September 26, 2025.

The gross profit margin for the fourth quarter of 2024 was 64.7% compared to 79.6% a year ago.

Guidance: Staar Surgical expects 2025 ICL sales Ex. China of approximately $165 million to $175 million, representing approximately 9% to 15% growth, assuming overall refractive procedure volumes in the Americas will be down 5%-10%; EMEA will be flat; and APAC Ex. China will be flat.

China’s ICL sales will be less than $5 million for the first half of 2025, as the company works through elevated inventory levels against weak demand for refractive in-market procedures.

The company sees China ICL sales of approximately $75 million-$125 million in the second half of 2025, which is dependent on overall refractive procedure volumes in China, which the company believes could be down 10% at the low end.

The high end of this range contemplates a rebound in overall refractive procedure volumes growing 10%.

In fiscal year 2025, the company says it will manage its working capital and implement appropriate cost-cutting measures in light of the lower revenue forecast.

The company intends to lower production output, decrease capital expenditures, and make targeted reductions to operating expenses, which will impact headcount and discretionary spending.

Based on the company's outlook for fiscal year 2025, Staar Surgical no longer expects to achieve its Vision 2026 Target Sales and Operating Model, initially announced in September 2023.

William Blair downgraded Staar Surgical to a Market Perform rating given the lack of visibility, uncertainty around stimulus to date, and increasing competition in the region amid what appears to be another year of global refractive market contraction in 2025.

Price Action: Staar Surgical stock is down 38.6% at $13.44 during the premarket session on last check Wednesday.

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