STAAR Surgical Company achieved its highest first-half revenue in history during the second quarter of 2026, marking a significant turnaround with profitability and positive free cash flow generation. The company's success is largely attributed to the introduction of the EVO Plus product in China and expanding its presence in the American market. This period also saw STAAR Surgical transitioning from a sole-product focus to a diversified innovation platform, supported by the implementation of a new enterprise resource planning (ERP) system. The core strategic objectives continue to be revenue growth, enhancement of profit margins, and acceleration of research and development efforts.
The financial highlights for the second quarter of 2026 underscore a period of substantial growth and improved financial health. Net sales surged to $93.5 million, an impressive 111% increase from the previous year, with China's revenue reaching $52.3 million due to the EVO Plus launch and sequential growth. U.S. net sales remained strong at $6.0 million for the second consecutive quarter, indicating a successful capture of market share from laser vision correction procedures. The company also reported a net income of $8.1 million and an adjusted EBITDA of $20.0 million, a considerable improvement from a loss in the prior year, driven by enhanced gross margins and reduced operational expenses. Total cash and investments increased to $181.5 million, reflecting strong cash flow generation and a solid financial foundation for future investments.
Looking ahead, STAAR Surgical is committed to long-term value creation through strategic innovation and operational discipline. The company is actively pursuing new product development, evidenced by preparations for first-in-human studies for its next-generation product and the recruitment of a Chief Technology Officer. Despite some regional challenges such as currency headwinds in Japan and market disruptions in the Middle East, STAAR Surgical maintains a positive outlook, focusing on sustained revenue growth and leveraging its proprietary Collamer technology. The company's robust performance, marked by over 4 million lenses sold and a presence in 85 countries, positions it well to address the growing global demand for vision correction solutions.
STAAR Surgical's journey from a single-product entity to a dynamic innovation platform showcases a commitment to foresight and adaptability. By prioritizing consistent financial health, investing in groundbreaking research, and expanding its global footprint, the company embodies the principles of continuous improvement and strategic growth. This forward-thinking approach not only solidifies its market position but also contributes positively to global healthcare by making advanced vision correction accessible to a wider population, ultimately enhancing quality of life for millions.
