Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 148

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 148
---
3 compared to 78.5% of revenue for 2022, due to reserves related to cataract IOLs and increased period costs associated with manufacturing expansion projects, offset by an increased mix of ICL sales, which carry a higher margin.

General and Administrative Expense  

The following table presents our general and administrative expense for the fiscal years presented (dollars in thousands):

    Percentage Change

    2024

    2023

    2022

    2024 vs. 2023

    2023 vs. 2022

    General and administrative expense
     
    $
    89,898

    $
    72,319

    $
    54,742

    24.3
    %

    32.1
    %

    Percentage of sales

    28.6
    %

    22.4
    %

    19.2
    %

General and administrative expenses for 2024 increased 24.3% from 2023, due to increased outside services, facilities costs, salary-related and payroll tax expenses and bonus and stock-based compensation expenses. 

General and administrative expenses for 2023 increased 32.1% from 2022, due to increased salary-related and payroll tax expenses, outside services, facilities costs, bonus and stock-based compensation expenses and Japan one-time employee benefits. 

37

Selling and Marketing Expense  

The following table presents our selling and marketing expense for the fiscal years presented (dollars in thousands):

    Percentage Change

    2024

    2023

    2022

    2024 vs. 2023

    2023 vs. 2022

    Selling and marketing expense
     
    $
    108,322

    $
    107,834

    $
    88,856

    0.5
    %

    21.4
    %

    Percentage of sales

    34.5
    %

    33.4
    %

    31.2
    %

Selling and marketing expenses for 2024 increased 0.5% from 2023, due to increased salary-related payroll tax expenses, trade shows and sales meeting expenses, costs and charges associated with the opening of our new EVO Experience Center, sales commission expenses and travel expenses, offset by decreased advertising and promotional activities.

Selling and marketing expenses for 2023 increased 21.4% from