Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 108

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 108
---
ataracts. As the Company has focused its business and strategy on its ICL product offerings, it has phased out its cataract IOL product line. The Company markets and sells ICLs for refractive surgery to treat myopia (nearsightedness) as its “EVO” family of lenses. The Company’s EVO family of lenses includes its EVO ICL, EVO+ ICL, and EVO Visian ICL. The Company’s newest offering, EVO Viva, has an extended depth of focus (EDoF) optic, which is designed to treat myopia with presbyopia (age-related loss of ability to focus). The Company also markets and sells an ICL lens to treat hyperopia (farsightedness), which is called Visian ICL. The Company makes its ICL product offerings available in multiple models, powers and lengths, including some with toric ICL (TICL) versions to correct for astigmatism (blurred vision). Not all of the Company’s products are currently available in all markets where it sells ICLs today.As of December 27, 2024, the Company’s significant subsidiaries consisted of:•STAAR Surgical AG, a wholly owned subsidiary organized under the laws of Switzerland (“STAAR AG”)•STAAR Japan, Inc., a wholly owned subsidiary organized under the laws of Japan (“STAAR Japan”)The Company operates as one operating segment, the ophthalmic surgical market, for financial reporting purposes (see Note 16).Principles of ConsolidationThe accompanying consolidated financial statements include the accounts of STAAR Surgical Company and its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany balances and transactions have been eliminated.  Fiscal Year and Interim Reporting PeriodsThe Company’s fiscal year ends on the Friday nearest December 31 and each of the Company’s quarterly reporting periods generally consists of 13 weeks.  Fiscal years 2024, 2023 and 2022 are based on a 52-week period. Segment ReportingThe Company adopted Accounting Standards Update (“ASU”) 2023-07 as of the beginning of fiscal 2024.  The Company operates in one reportable segment, ophthalmic surgical product segment, as all of the Company’s sales are generated from ophthalmic surgical products.  The accounting policies for of the ophthalmic surgical product segment are the same as those described in Note 1