Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 77

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 77
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, 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 2022, due to increased advertising and promotional activities, salary-related payroll tax expenses, sales commission expenses and travel expenses, partially offset by bonus and stock-based compensation expenses.

Research and Development Expense  

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

    Percentage Change

    2024

    2023

    2022

    2024 vs. 2023

    2023 vs. 2022

    Research and development expense
     
    $
    53,973

    $
    44,401

    $
    35,983

    21.6
    %

    23.4
    %

    Percentage of sales

    17.2
    %

    13.8
    %

    12.7
    %

Research and development expenses for 2024 increased 21.6% from 2023 due to increased salary-related and payroll tax expenses, purchases of in-process research and development related