STAAR Surgical (NASDAQ: STAA) shares plummeted 5.07% in the intraday trading session on Thursday, following the company's disappointing full-year 2024 earnings report.
The medical device maker reported a net loss of $20.2 million, or $0.41 per share, for the fiscal year 2024, marking a significant decline from the previous year's profit of $21.3 million, or $0.44 per share. Additionally, STAAR Surgical's revenue missed analyst estimates, coming in at $313.9 million, down 2.6% from the previous year.
Despite the weaker-than-expected performance, STAAR Surgical's management remains optimistic about the company's future growth prospects, forecasting a 13% annual revenue growth rate over the next three years. However, this projection falls short of the 7.9% growth forecast for the broader Medical Equipment industry in the United States.
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