Lake Forest, Calif. — STAAR Surgical Company (NASDAQ: STAA), a global leader in implantable vision correction lenses, announced a $30 million share repurchase authorization, reinforcing management’s confidence in the company’s long-term growth prospects and financial strength.
The repurchase program, approved by STAAR’s Board of Directors, allows the company to buy back shares of its outstanding common stock through various methods, including open market purchases, block transactions, structured repurchase agreements, or trading plans under Rule 10b5-1. The initiative is set to run for the next six months, though it may be modified, suspended, or terminated at the company’s discretion.
“Our decision to initiate a share repurchase program underscores the Board’s and management’s confidence in STAAR’s future and our ability to return to sustainable, profitable growth,” said Stephen C. Farrell, CEO of STAAR Surgical. “We believe our shares represent an attractive investment, and this move reflects our commitment to thoughtful capital allocation and delivering long-term value to shareholders.”
STAAR plans to fund the buybacks using its existing cash reserves and operating cash flow. As of March 28, 2025, the company reported $222.8 million in cash, cash equivalents, and short-term investments, with no outstanding debt. The company had approximately 49.5 million shares of common stock outstanding at that time.
During STAAR’s May 7, 2025, earnings call, management provided a financial outlook for fiscal 2025, indicating that cash reserves were not expected to fall below $140 million before the company resumes generating positive cash flow in the latter half of the year. Notably, this forecast did not factor in the newly announced repurchase program.
The move signals STAAR’s strategic focus on enhancing shareholder value while maintaining operational flexibility. The company continues to invest in its core vision correction technologies, particularly its flagship EVO family of Implantable Collamer® Lenses (EVO ICL™), as it pursues growth in global markets.
