STAAR Surgical (STAA) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 28, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 28, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	STAAR Surgical Co
Entity Central Index Key	0000718937
Current Fiscal Year End Date	--12-27
Entity Filer Category	Large Accelerated Filer
Trading Symbol	STAA
Entity Common Stock, Shares Outstanding		49,188,211
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	0-11634
Title of 12(b) Security	Common
Security Exchange Name	NASDAQ
Entity Tax Identification Number	95-3797439
Entity Address, Address Line One	25510 Commercentre Drive
Entity Address, City or Town	Lake Forest
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92630
City Area Code	626
Local Phone Number	303-7902
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 29, 2023
Current assets:
Cash and cash equivalents	$ 192,776	$ 183,038
Investments available for sale	42,424	37,688
Accounts receivable trade, net of allowance for credit losses of $184 and $191, respectively	93,800	94,704
Inventories, net	39,282	35,130
Prepayments, deposits and other current assets	15,535	14,709
Total current assets	383,817	365,269
Investments available for sale	265	11,703
Property, plant and equipment, net	77,500	66,835
Finance lease right-of-use assets, net	109	183
Operating lease right-of-use assets, net	34,971	34,387
Goodwill	1,786	1,786
Deferred income taxes	5,078	5,190
Other assets	9,219	3,339
Total assets	512,745	488,692
Current liabilities:
Accounts payable	19,059	13,557
Obligations under finance leases	125	165
Obligations under operating leases	4,648	4,202
Allowance for sales returns	7,225	6,174
Other current liabilities	35,113	40,938
Total current liabilities	66,170	65,036
Obligations under finance leases		42
Obligations under operating leases	31,499	31,425
Deferred income taxes	1,056	1,077
Asset retirement obligations	109	103
Pension liability	4,808	5,055
Total liabilities	103,642	102,738
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 60,000 shares authorized: 49,161 and 48,839 shares issued and outstanding at June 28, 2024 and December 29, 2023, respectively	492	488
Additional paid-in capital	457,402	436,947
Accumulated other comprehensive income (loss)	(5,463)	(4,113)
Accumulated deficit	(43,328)	(47,368)
Total stockholders’ equity	409,103	385,954
Total liabilities and stockholders’ equity	$ 512,745	$ 488,692

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 29, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses, current	$ 184	$ 191
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	49,161,000	48,839,000
Common stock, shares outstanding	49,161,000	48,839,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 99,005	$ 92,306	$ 176,361	$ 165,834
Cost of sales	20,593	21,580	36,914	37,546
Gross profit	78,412	70,726	139,447	128,288
Selling, general and administrative expenses:
General and administrative	23,641	18,097	46,869	36,195
Selling and marketing	28,819	32,277	55,527	58,631
Research and development	14,054	11,755	27,434	22,065
Total selling, general and administrative expenses	66,514	62,129	129,830	116,891
Operating income	11,898	8,597	9,617	11,397
Other income (expense), net:
Interest income, net	1,422	1,775	2,951	3,597
Loss on foreign currency transactions	(3,049)	(1,890)	(5,346)	(1,856)
Royalty income			508
Other income, net	63	10	393	73
Total other income (expense), net	(1,564)	(105)	(1,494)	1,814
Income before income taxes	10,334	8,492	8,123	13,211
Provision for income taxes	2,955	2,428	4,083	4,437
Net income	$ 7,379	$ 6,064	$ 4,040	$ 8,774
Net income per share:
Basic	$ 0.15	$ 0.13	$ 0.08	$ 0.18
Diluted	$ 0.15	$ 0.12	$ 0.08	$ 0.18
Weighted average shares outstanding:
Basic	49,127	48,418	49,018	48,333
Diluted	49,811	49,516	49,529	49,524

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 7,379	$ 6,064	$ 4,040	$ 8,774
Defined benefit plans:
Net change in plan assets	(97)	(547)	135	(1,724)
Reclassification into other income (expense), net	(17)	(51)	(34)	(103)
Investments available for sale:
Change in unrealized gain (loss)	3	(142)	(33)	(26)
Reclassification into other income (expense), net	(1)		2	(2)
Foreign currency translation loss	(938)	(1,342)	(2,038)	(1,471)
Tax effect	299	498	618	649
Other comprehensive loss, net of tax	(751)	(1,584)	(1,350)	(2,677)
Comprehensive income	$ 6,628	$ 4,480	$ 2,690	$ 6,097

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Dec. 30, 2022	$ 336,112	$ 482	$ 404,189	$ 156	$ (68,715)
Balance (in shares) at Dec. 30, 2022		48,212
Net income	8,774				8,774
Other comprehensive loss	(2,677)			(2,677)
Common stock issued upon exercise of options	2,006	$ 2	2,004
Common stock issued upon exercise of options (in shares)		195
Stock-based compensation	15,385		15,385
Repurchase of employee common stock for taxes withheld	$ (1,984)		(1,984)
Repurchase of employee common stock for taxes withheld (in shares)		(34)
Unvested restricted stock (in shares)	(10)	10
Vested restricted and performance stock units	$ 1	$ 1
Vested restricted and performance stock units (in shares)		116
Balance at Jun. 30, 2023	357,617	$ 485	419,594	(2,521)	(59,941)
Balance (in shares) at Jun. 30, 2023		48,499
Balance at Mar. 31, 2023	342,844	$ 483	409,303	(937)	(66,005)
Balance (in shares) at Mar. 31, 2023		48,331
Net income	6,064				6,064
Other comprehensive loss	(1,584)			(1,584)
Common stock issued upon exercise of options	1,477	$ 2	1,475
Common stock issued upon exercise of options (in shares)		155
Stock-based compensation	8,951		8,951
Repurchase of employee common stock for taxes withheld	$ (135)		(135)
Repurchase of employee common stock for taxes withheld (in shares)		(3)
Unvested restricted stock (in shares)	(10)	10
Vested restricted and performance stock units (in shares)		6
Balance at Jun. 30, 2023	$ 357,617	$ 485	419,594	(2,521)	(59,941)
Balance (in shares) at Jun. 30, 2023		48,499
Balance at Dec. 29, 2023	385,954	$ 488	436,947	(4,113)	(47,368)
Balance (in shares) at Dec. 29, 2023		48,839
Net income	4,040				4,040
Other comprehensive loss	(1,350)			(1,350)
Common stock issued upon exercise of options	$ 5,695	$ 2	5,693
Common stock issued upon exercise of options (in shares)	205	205
Stock-based compensation	$ 16,158		16,158
Repurchase of employee common stock for taxes withheld	(1,396)		(1,396)
Repurchase of employee common stock for taxes withheld (in shares)		(40)
Unvested restricted stock (in shares)		16
Forfeited restricted stock (in shares)		(5)
Vested restricted and performance stock units	2	$ 2
Vested restricted and performance stock units (in shares)		146
Balance at Jun. 28, 2024	409,103	$ 492	457,402	(5,463)	(43,328)
Balance (in shares) at Jun. 28, 2024		49,161
Balance at Mar. 29, 2024	392,788	$ 491	447,716	(4,712)	(50,707)
Balance (in shares) at Mar. 29, 2024		49,120
Net income	7,379				7,379
Other comprehensive loss	(751)			(751)
Common stock issued upon exercise of options	371		371
Common stock issued upon exercise of options (in shares)		18
Stock-based compensation	9,482		9,482
Repurchase of employee common stock for taxes withheld	(167)		(167)
Repurchase of employee common stock for taxes withheld (in shares)		(4)
Unvested restricted stock (in shares)		16
Forfeited restricted stock (in shares)		(1)
Vested restricted and performance stock units	1	$ 1
Vested restricted and performance stock units (in shares)		12
Balance at Jun. 28, 2024	$ 409,103	$ 492	$ 457,402	$ (5,463)	$ (43,328)
Balance (in shares) at Jun. 28, 2024		49,161

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 4,040	$ 8,774
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation of property, plant, and equipment	2,759	2,398
Amortization of intangibles		171
Accretion/Amortization of investments available for sale	(286)	(1,824)
Deferred income taxes	60	75
Change in net pension liability	(146)	(627)
Loss on disposal of property and equipment	26	24
Stock-based compensation expense	15,381	14,488
Change in asset retirement obligation	20	(107)
Provision for sales returns and bad debts	1,079	1,004
Inventory provision	1,024	3,630
Changes in working capital:
Accounts receivable	436	(32,344)
Inventories	(4,871)	(4,382)
Prepayments, deposits, and other assets	(7,085)	(2,665)
Accounts payable	3,618	(1,447)
Other current liabilities	(4,788)	1,432
Net cash provided by (used in) operating activities	11,267	(11,400)
Cash flows from investing activities:
Acquisition of property and equipment	(11,438)	(5,915)
Purchase of investments available for sale	(20,249)	(42,602)
Proceeds from sale or maturity of investments available for sale	27,206	68,622
Net cash provided by (used in) investing activities	(4,481)	20,105
Cash flows from financing activities:
Repayment of finance lease obligations	(82)	(82)
Repurchase of employee common stock for taxes withheld	(1,396)	(1,984)
Proceeds from the exercise of stock options	5,695	2,006
Proceeds from vested restricted and performance stock units	2	1
Net cash provided by (used in) financing activities	4,219	(59)
Effect of exchange rate changes on cash and cash equivalents	(1,267)	(431)
Increase in cash and cash equivalents	9,738	8,215
Cash and cash equivalents, at beginning of the period	183,038	86,480
Cash and cash equivalents, at end of the period	$ 192,776	$ 94,695

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 7,379	$ 6,064	$ 4,040	$ 8,774

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 28, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Note 1 — Basis of Presentation and Significant Accounting Policies STAAR Surgical Company, a Delaware corporation, was first incorporated in 1982, and together with its subsidiaries designs, develops, manufactures, and sells implantable lenses for the eye and accessory delivery systems used to deliver the lenses into the eye. The accompanying Condensed Consolidated Financial Statements present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries (the “Company”). All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in the Comprehensive Financial Statements have been condensed or omitted pursuant to such rules and regulations. The Consolidated Balance Sheet as of December 29, 2023 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 29, 2023. The Condensed Consolidated Financial Statements for the three and six months ended June 28, 2024 and June 30, 2023, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial condition and results of operations. The results of operations for the three and six months ended June 28, 2024 and June 30, 2023, are not necessarily indicative of the results to be expected for any other interim period or for the entire year. Each of the Company’s fiscal reporting periods ends on the Friday nearest to the quarter ending date and generally consists of 13 weeks. Unless the context indicates otherwise “we,” “us,” the “Company,” and “STAAR” refer to STAAR Surgical Company and its consolidated subsidiaries. Cloud-Based Software As of June 28, 2024 and December 29, 2023 , the Company recognized $ 8,103,000 and $ 2,406,000 , respectively, of net capitalized cloud-based software implementation costs related to several systems, including enterprise resource planning and customer relationship management systems, recorded within Other assets on the Condensed Consolidated Balance Sheets. As of June 28, 2024 , these assets are not currently placed into service. These assets are expected to be placed into service through the first quarter of 2025. No amortization of capitalized cloud-based software implementation costs were recognized during the three and six months ended June 28, 2024 and June 30, 2023. Vendor Concentration There was one vendor that accounted for approximately 28 % of the Company’s consolidated accounts payable as of June 28, 2024 . There was one vendor that accounted for approximately 11 % of the Company’s consolidated purchases as of the three months ended June 28, 2024 . Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, “Segment Reporting (Topic 280).” ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments (a) disclose significant segment expenses regularly provided to the chief operating decision maker (“CODM”), (b) disclose an amount for other segment items by reportable segment and description of its composition, (c) extend certain annual disclosures to interim periods, (d) clarify single reportable segment entities must apply Topic 280 in its entirety, (e) permit more than one measure of segment profit or loss to be reported under certain conditions and (f) require disclosure of the title and position of the CODM. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company will adopt the annual disclosure requirements of ASU 2023-07 as of beginning of fiscal year 2024 and will adopt the interim disclosure requirements beginning fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements. Note 1 — Basis of Presentation and Significant Accounting Policies (Continued) Recent Accounting Pronouncements Not Yet Adopted (Continued) In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740).” ASU 2023-09 improves the transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. It also includes certain other amendments to improve the effectiveness of income tax disclosures regarding (a) income or loss from continuing operations disaggregated between domestic and foreign and (b) income tax expense or benefit from continuing operations disaggregated by federal, state and foreign. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company will adopt ASU 2023-09 at the beginning of fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements.

Investments Available for Sale

Investments Available for Sale	6 Months Ended
	Jun. 28, 2024
Investments, Debt and Equity Securities [Abstract]
Investments Available for Sale	Note 2 — Investments Available for Sale Investments available for sale (“AFS”) and the related fair value measurement consisted of the following (dollars in thousands): June 28, 2024 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 3,565 $ 1 $ — $ 3,566 $ — $ 3,566 Certificates of deposit 1,762 1 — 1,763 — 1,763 U.S. Treasury securities 13,943 — ( 66 ) 13,877 13,877 — U.S. agency securities 989 — ( 2 ) 987 — 987 Corporate debt securities 22,503 3 ( 10 ) 22,496 — 22,496 Total investments AFS $ 42,762 $ 5 $ ( 78 ) $ 42,689 $ 13,877 $ 28,812 December 29, 2023 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 7,720 $ 9 $ — $ 7,729 $ — $ 7,729 Certificates of deposit 3,716 4 — 3,720 — 3,720 U.S. Treasury securities 23,036 3 ( 56 ) 22,983 22,983 — U.S. agency securities 3,423 — ( 4 ) 3,419 — 3,419 Corporate debt securities 11,538 12 ( 10 ) 11,540 — 11,540 Total investments AFS $ 49,433 $ 28 $ ( 70 ) $ 49,391 $ 22,983 $ 26,408 The Company obtains the fair value from third-party pricing services. The pricing services utilize industry standard valuation models, including both income and market-based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers and other industry and economic events. The Company assessed each debt security with gross unrealized losses for impairment. As part of that assessment, the Company concluded that it does not intend to sell and it is more-likely-than-not that the Company will not be required to sell, prior to the recovery of the amortized cost basis. The Company did no t recognize impairment for the three and six months ended June 28, 2024. Note 2 — Investments Available for Sale (Continued) The following table shows the fair value of investments AFS by contractual maturity (dollars in thousands): As of June 28, 2024 Within one year After one year through five years Total Commercial paper $ 3,566 $ — $ 3,566 Certificates of deposit 1,763 — 1,763 U.S. Treasury securities 13,877 — 13,877 U.S. agency securities 987 — 987 Corporate debt securities 22,231 265 22,496 Total investments AFS $ 42,424 $ 265 $ 42,689 During the six months ended June 28, 2024 , two of the Company’s investments AFS of $ 850,000 , were subject to early redemption. The Company recognized a gain upon redemption of $ 3,000 during the six months ended June 28, 2024. During the six months ended June 30, 2023 , one of the Company’s investments AFS was the subject of a downgraded credit rating. The Company sold its investments of $ 600,000 following the downgrade. The Company recognized a realized gain upon sale of $ 2,000 during the six months ended June 30, 2023 .

Inventories

Inventories	6 Months Ended
	Jun. 28, 2024
Inventory Disclosure [Abstract]
Inventories	Note 3 — Inventories Inventories, net are stated at the lower of cost and net realizable value, determined on a first-in, first-out basis and consisted of the following (in thousands): June 28, 2024 December 29, 2023 Raw materials and purchased parts $ 9,453 $ 9,766 Work in process 7,293 5,722 Finished goods 25,033 23,150 Total inventories, gross 41,779 38,638 Less inventory reserves ( 2,497 ) ( 3,508 ) Total inventories, net $ 39,282 $ 35,130

Prepayments, Deposits, and Othe

Prepayments, Deposits, and Other Current Assets	6 Months Ended
	Jun. 28, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments, Deposits, and Other Current Assets	Note 4 — Prepayments, Deposits, and Other Current Assets Prepayments, deposits, and other current assets consisted of the following (in thousands): June 28, 2024 December 29, 2023 Prepayments and deposits $ 6,901 $ 5,924 Prepaid rent 3,137 292 Prepaid insurance 1,149 2,314 Prepaid marketing costs 1,024 2,141 Consumption tax receivable — 820 Value added tax (VAT) receivable 1,904 2,456 BVG (Swiss Pension) prepayment 946 23 Other (1) 474 739 Total prepayments, deposits and other current assets $ 15,535 $ 14,709 (1) No individual category in “other current assets” exceeds 5 % of the total prepayments, deposits and other current assets.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 28, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 5 — Property, Plant and Equipment Property, plant and equipment, net consisted of the following (in thousands): June 28, 2024 December 29, 2023 Machinery and equipment $ 34,794 $ 30,874 Computer equipment and software 12,754 8,495 Furniture and fixtures 6,371 4,122 Leasehold improvements 12,995 10,780 Construction in process 41,458 40,364 Total property, plant and equipment, gross 108,372 94,635 Less accumulated depreciation ( 30,872 ) ( 27,800 ) Total property, plant and equipment, net $ 77,500 $ 66,835

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 28, 2024
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Note 6 – Other Current Liabilities Other current liabilities consisted of the following (in thousands): June 28, 2024 December 29, 2023 Accrued salaries and wages $ 13,717 $ 12,519 Accrued bonuses 4,054 3,456 Accrued insurance 589 2,315 Income taxes payable 5,270 10,848 Marketing obligations 2,282 1,874 Other (1) 9,201 9,926 Total other current liabilities $ 35,113 $ 40,938 (1) No individual category in “Other” exceeds 5 % of the other current liabilities.

Leases

Leases	6 Months Ended
	Jun. 28, 2024
Leases [Abstract]
Leases	Note 7 – Leases Finance Leases The Company entered into finance leases primarily related to purchases of equipment used for manufacturing, computer-related equipment or furniture and fixtures. These finance leases are two to five years in length and have fixed payment amounts for the term of the contract and have options to purchase the assets at the end of the lease term. Supplemental balance sheet information related to finance leases consisted of the following (dollars in thousands): June 28, 2024 December 29, 2023 Computer equipment and software $ 6 $ 6 Furniture and fixtures 475 475 Finance lease right-of-use assets, gross 481 481 Less accumulated depreciation ( 372 ) ( 298 ) Finance lease right-of-use assets, net $ 109 $ 183 Current finance lease obligations $ 125 $ 165 Long-term finance lease obligations — 42 Total finance lease liability $ 125 $ 207 Weighted-average remaining lease term (in years) 0.8 1.3 Weighted-average discount rate 4.25 % 4.24 % Note 7 – Leases (Continued) Finance Leases (Continued) Supplemental cash flow information related to finance leases consisted of the following (dollars in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Amortization of finance lease right-of-use asset $ 37 $ 38 $ 74 $ 77 Interest on finance lease liabilities 2 3 4 7 Cash paid for amounts included in the measurement of finance lease liabilities: Operating cash flows 2 3 4 7 Financing cash flows 42 40 82 82 Operating Leases The Company entered into operating leases primarily related to real property (office, manufacturing and warehouse facilities), automobiles and copiers. These operating leases are two to ten years in length with options to extend. The Company does not include any lease extensions in the initial valuation unless the Company was reasonably certain to extend the lease. Depending on the lease, there are those with fixed payment amounts for the entire length of the contract or payments which increase periodically as noted in the contract or increased at an inflation rate indicator. For operating leases that increase using an inflation rate indicator, the Company used the inflation rate at the time the lease was entered into for the length of the lease term. Supplemental balance sheet information related to operating leases consisted of the following (dollars in thousands): June 28, 2024 December 29, 2023 Machinery and equipment $ 696 $ 735 Computer equipment and software 445 446 Real property 43,302 40,869 Operating lease right-of-use assets, gross 44,443 42,050 Less accumulated depreciation ( 9,472 ) ( 7,663 ) Operating lease right-of-use assets, net $ 34,971 $ 34,387 Current operating lease obligations $ 4,648 $ 4,202 Long-term operating lease obligations 31,499 31,425 Total operating lease liability $ 36,147 $ 35,627 Weighted-average remaining lease term (in years) 7.1 7.3 Weighted-average discount rate 5.52 % 5.48 % Supplemental cash flow information related to operating leases was as follows (dollars in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Operating lease cost $ 2,089 $ 1,357 $ 4,312 $ 2,464 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows 1,481 1,152 2,865 2,325 Right-of-use assets obtained in exchange for new operating lease liabilities 1,991 1,511 3,486 3,420 Note 7 – Leases (Continued) Future Maturities of Lease Liabilities Estimated future maturities of lease liabilities under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of June 28, 2024 is as follows (in thousands): . As of June 28, 2024 Operating Leases Finance Leases June 2025 $ 6,776 $ 127 June 2026 5,579 — June 2027 5,884 — June 2028 5,707 — June 2029 5,773 — Thereafter 16,535 — Total future minimum lease payments $ 46,254 $ 127 Less amounts representing interest ( 10,107 ) ( 2 ) Total lease liability $ 36,147 $ 125

Income Taxes

Income Taxes	6 Months Ended
	Jun. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 — Income Taxes The Company recorded an income tax provision as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Provision for income taxes $ 2,955 $ 2,428 $ 4,083 $ 4,437 The effective tax rates for the three months ended June 28, 2024 and June 30, 2023 were 28.6 % and 28.6 %, respectively, and were 50.3 % and 33.6 % for the six months ended June 28, 2024 and June 30, 2023 , respectively. The Company’s effective tax rates differ from the U.S. federal statutory rate of 21 % for the three and six months ended June 28, 2024 and June 30, 2023 , respectively, primarily due to the income tax expense generated in foreign jurisdictions.

Defined Benefit Pension Plans

Defined Benefit Pension Plans	6 Months Ended
	Jun. 28, 2024
Retirement Benefits [Abstract]
Defined Benefit Pension Plans	Note 9 – Defined Benefit Pension Plans The Company has defined benefit plans covering employees of its Switzerland and Japan operations. The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Service cost (1) $ 313 $ 254 $ 638 $ 503 Interest cost (2) 87 90 171 177 Expected return on plan assets (2) ( 136 ) ( 91 ) ( 268 ) ( 178 ) Prior service credit (2),(3) ( 45 ) ( 45 ) ( 90 ) ( 90 ) Actuarial loss recognized in current period (2),(3) 28 ( 6 ) 56 ( 13 ) Net periodic pension cost $ 247 $ 202 $ 507 $ 399 (1) Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income. (2) Recognized in other expense, net on the Condensed Consolidated Statements of Income. (3) Amounts reclassified from accumulated other comprehensive income (loss). The Company currently is not required to and does not make contributions to its Japan pension plan. The Company’s contributions to its Swiss pension plan are as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Employer contribution $ 272 $ 245 $ 539 $ 462

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 28, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 10 — Stockholders’ Equity Incentive Plan The Company maintains an Amended and Restated Omnibus Equity Incentive Plan (the “Equity Plan”). The Equity Plan allows for awards of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”) and performance stock units (“PSUs”) and other stock- and cash-based awards, including awards that are subject to service-based and performance-based vesting conditions. As of June 28, 2024, the Company had outstanding grants of stock options, restricted stock awards, RSUs and PSUs. Stock option awards granted under the Equity Plan are granted at fair market value on the date of grant, become exercisable generally over a three-year period, or as determined by the Board of Directors, and expire over periods not exceeding 10 years from the date of grant. Certain stock options and stock-based awards provide for accelerated vesting if there is a change in control and pre-established financial metrics are met (as defined in the Equity Plan). Grants of restricted stock outstanding under the Equity Plan generally vest over periods of one to three years . Grants of RSUs and PSUs outstanding under the Equity Plan generally vest based on service, performance, or a combination of both. On June 20, 2024, stockholders approved a proposal to increase the number of shares under the Equity Plan by 2,600,000 shares, for a total of 22,805,000 shares. As of June 28, 2024 , there were 3,487,255 shares available for grant under the Equity Plan. Stock-Based Compensation The cost that has been charged against income for stock-based compensation is set forth below (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Employee stock options $ 3,518 $ 3,479 $ 6,691 $ 6,456 Restricted stock 170 79 198 146 RSUs 3,084 2,148 5,396 3,749 PSUs 2,119 2,403 2,804 3,509 Nonemployee stock options 151 314 292 628 Total stock-based compensation expense $ 9,042 $ 8,423 $ 15,381 $ 14,488 The Company recorded stock-based compensation costs in the following categories (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Cost of sales $ 363 $ 223 $ 661 $ 372 General and administrative 4,981 3,695 8,056 7,058 Selling and marketing 1,319 2,492 2,529 3,349 Research and development 2,379 2,013 4,135 3,709 Total stock-based compensation expense, net 9,042 8,423 15,381 14,488 Amounts capitalized as part of inventory 440 528 777 897 Total stock-based compensation expense, gross $ 9,482 $ 8,951 $ 16,158 $ 15,385 As of June 28, 2024, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands): June 28, 2024 Stock options $ 25,633 Restricted stock, RSUs and PSUs 38,796 Total unrecognized stock-based compensation cost $ 64,429 The cost is expected to be recognized over a weighted-average period of approximately two years . Note 10 — Stockholders’ Equity (Continued) Assumptions The fair value of each stock option award is estimated on the date of grant using a Black-Scholes option valuation model applying the weighted-average assumptions noted in the following table. Expected volatilities are based on historical volatility of the Company’s stock. The expected term of stock options granted is derived from the historical exercises and post-vesting cancellations and represents the period of time that stock options granted are expected to be outstanding. The Company has calculated a 8 % estimated forfeiture rate based on historical forfeiture experience. The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant. Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Expected dividend yield 0 % 0 % 0 % 0 % Expected volatility 59 % 58 % 59 % 59 % Risk-free interest rate 4.45 % 3.41 % 4.19 % 3.87 % Expected term (in years) 5.29 4.87 5.29 5.02 Stock Options A summary of stock option activity under the Equity Plan for six months ended June 28, 2024 is presented below: Stock Weighted- Weighted- Aggregate Outstanding at December 29, 2023 2,630 $ 46.38 Granted 597 38.14 Exercised ( 205 ) 27.83 Forfeited or expired ( 114 ) 69.44 Outstanding at June 28, 2024 2,908 $ 45.08 6.81 $ 31,731 Exercisable at June 28, 2024 1,760 $ 44.45 5.29 $ 24,251 Restricted Stock, Restricted Stock Units and Performance Stock Units A summary of restricted stock, RSU and PSU activity under the Equity Plan for the six months ended June 28, 2024 is presented below (shares in thousands): Restricted RSUs PSUs Unvested at December 29, 2023 14 401 56 Granted 17 443 390 Vested ( 10 ) ( 122 ) ( 24 ) Forfeited or expired ( 5 ) ( 18 ) ( 16 ) Unvested at June 28, 2024 16 704 406

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11 - Commitments and Contingencies Litigation and Claims From time to time, the Company is involved in various legal proceedings and other matters arising in the normal course of business. These legal proceedings and other matters may relate to, among other things, contractual rights and obligations, employment matters, or claims of product liability. The Company maintains insurance coverage for various matters, including product liability and certain securities claims. While the Company does not believe that any of the claims known is likely to have a material adverse effect on the Company’s financial condition or results of operations, new claims or unexpected results of existing claims could lead to significant financial harm.

Basic and Diluted Net Income (L

Basic and Diluted Net Income (Loss) Per Share	6 Months Ended
	Jun. 28, 2024
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) Per Share	Note 12 — Basic and Diluted Net Income (Loss) Per Share The following table sets forth the computation of basic and diluted net income per share (in thousands except per share amounts): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Numerator: Net income $ 7,379 $ 6,064 $ 4,040 $ 8,774 Denominator: Weighted average common shares: Common shares outstanding 49,127 48,428 49,018 48,343 Less: Unvested restricted stock — ( 10 ) — ( 10 ) Denominator for basic calculation 49,127 48,418 49,018 48,333 Weighted average effects of potentially diluted common stock: Stock options 468 986 407 1,050 Unvested restricted stock 7 3 6 3 RSUs 109 46 57 77 PSUs 100 63 41 61 Denominator for diluted calculation 49,811 49,516 49,529 49,524 Net income per share: Basic $ 0.15 $ 0.13 $ 0.08 $ 0.18 Diluted $ 0.15 $ 0.12 $ 0.08 $ 0.18 The following table sets forth (in thousands) the weighted average number of options to purchase shares of common stock, restricted stock, RSUs and PSUs with either exercise prices or unrecognized compensation cost per share greater than the average market price per share of the Company’s common stock, which were not included in the calculation of diluted per share amounts because the effects would be anti-dilutive. Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Stock options 3,031 1,874 3,275 1,625 Restricted stock, RSUs and PSUs 180 127 63 24 Total 3,211 2,001 3,338 1,649

Disaggregation of Sales, Geogra

Disaggregation of Sales, Geographic Sales and Product Sales	6 Months Ended
	Jun. 28, 2024
Segment Reporting [Abstract]
Disaggregation of Sales, Geographic Sales and Product Sales	Note 13 — Disaggregation of Sales, Geographic Sales and Product Sales In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Non-consignment sales $ 94,775 $ 88,068 $ 166,539 $ 155,231 Consignment sales 4,230 4,238 9,822 10,603 Total net sales $ 99,005 $ 92,306 $ 176,361 $ 165,834 The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10 % of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Domestic $ 5,399 $ 4,346 $ 10,334 $ 8,897 Foreign: China 63,395 61,339 101,944 96,429 Japan 9,885 8,415 20,341 19,351 Other (1) 20,326 18,206 43,742 41,157 Total foreign sales 93,606 87,960 166,027 156,937 Total net sales $ 99,005 $ 92,306 $ 176,361 $ 165,834 (1) No other location individually exceeds 10 % of the total sales. 100 % of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes operating decisions and allocates resources based upon the consolidated operating results, and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery. Historically the Company marketed and sold cataract intraocular lenses (“IOLs”) and related injectors and injector parts. The Company phased out sales of such products in fiscal 2023, and does not expect to sell any such products in fiscal 2024 or thereafter. The composition of the Company’s net sales by product line was as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 ICLs $ 99,365 $ 93,112 $ 176,516 $ 163,737 Other product sales: Cataract IOLs — 40 — 1,516 Other surgical products (1) ( 360 ) ( 846 ) ( 155 ) 581 Total other product sales ( 360 ) ( 806 ) ( 155 ) 2,097 Total net sales $ 99,005 $ 92,306 $ 176,361 $ 165,834 (1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances. The Company’s China distributors accounted for 64 % and 66 % of net sales for the three months ended June 28, 2024 and June 30, 2023 , respectively and accounted for 58 % and 58 % of net sales for the six months ended June 28, 2024 and June 30, 2023, respectively. As of June 28, 2024 and December 29, 2023 , the Company’s China distributors accounted for 70 % and 70 %, respectively, of consolidated trade receivables.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 28, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying Condensed Consolidated Financial Statements present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries (the “Company”). All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in the Comprehensive Financial Statements have been condensed or omitted pursuant to such rules and regulations. The Consolidated Balance Sheet as of December 29, 2023 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 29, 2023. The Condensed Consolidated Financial Statements for the three and six months ended June 28, 2024 and June 30, 2023, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial condition and results of operations. The results of operations for the three and six months ended June 28, 2024 and June 30, 2023, are not necessarily indicative of the results to be expected for any other interim period or for the entire year. Each of the Company’s fiscal reporting periods ends on the Friday nearest to the quarter ending date and generally consists of 13 weeks. Unless the context indicates otherwise “we,” “us,” the “Company,” and “STAAR” refer to STAAR Surgical Company and its consolidated subsidiaries.
Cloud-Based Software Implementation Costs	Cloud-Based Software As of June 28, 2024 and December 29, 2023 , the Company recognized $ 8,103,000 and $ 2,406,000 , respectively, of net capitalized cloud-based software implementation costs related to several systems, including enterprise resource planning and customer relationship management systems, recorded within Other assets on the Condensed Consolidated Balance Sheets. As of June 28, 2024 , these assets are not currently placed into service. These assets are expected to be placed into service through the first quarter of 2025. No amortization of capitalized cloud-based software implementation costs were recognized during the three and six months ended June 28, 2024 and June 30, 2023. Vendor Concentration There was one vendor that accounted for approximately 28 % of the Company’s consolidated accounts payable as of June 28, 2024 . There was one vendor that accounted for approximately 11 % of the Company’s consolidated purchases as of the three months ended June 28, 2024 .
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, “Segment Reporting (Topic 280).” ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments (a) disclose significant segment expenses regularly provided to the chief operating decision maker (“CODM”), (b) disclose an amount for other segment items by reportable segment and description of its composition, (c) extend certain annual disclosures to interim periods, (d) clarify single reportable segment entities must apply Topic 280 in its entirety, (e) permit more than one measure of segment profit or loss to be reported under certain conditions and (f) require disclosure of the title and position of the CODM. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company will adopt the annual disclosure requirements of ASU 2023-07 as of beginning of fiscal year 2024 and will adopt the interim disclosure requirements beginning fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements. Note 1 — Basis of Presentation and Significant Accounting Policies (Continued) Recent Accounting Pronouncements Not Yet Adopted (Continued) In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740).” ASU 2023-09 improves the transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. It also includes certain other amendments to improve the effectiveness of income tax disclosures regarding (a) income or loss from continuing operations disaggregated between domestic and foreign and (b) income tax expense or benefit from continuing operations disaggregated by federal, state and foreign. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company will adopt ASU 2023-09 at the beginning of fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements.

Investments Available for Sale

Investments Available for Sale (Tables)	6 Months Ended
	Jun. 28, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Investments Available for Sale and Related Fair Value Measurement	Investments available for sale (“AFS”) and the related fair value measurement consisted of the following (dollars in thousands): June 28, 2024 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 3,565 $ 1 $ — $ 3,566 $ — $ 3,566 Certificates of deposit 1,762 1 — 1,763 — 1,763 U.S. Treasury securities 13,943 — ( 66 ) 13,877 13,877 — U.S. agency securities 989 — ( 2 ) 987 — 987 Corporate debt securities 22,503 3 ( 10 ) 22,496 — 22,496 Total investments AFS $ 42,762 $ 5 $ ( 78 ) $ 42,689 $ 13,877 $ 28,812 December 29, 2023 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 7,720 $ 9 $ — $ 7,729 $ — $ 7,729 Certificates of deposit 3,716 4 — 3,720 — 3,720 U.S. Treasury securities 23,036 3 ( 56 ) 22,983 22,983 — U.S. agency securities 3,423 — ( 4 ) 3,419 — 3,419 Corporate debt securities 11,538 12 ( 10 ) 11,540 — 11,540 Total investments AFS $ 49,433 $ 28 $ ( 70 ) $ 49,391 $ 22,983 $ 26,408
Summary of Fair Value of Investments Available for Sale by Contractual Maturity	The following table shows the fair value of investments AFS by contractual maturity (dollars in thousands): As of June 28, 2024 Within one year After one year through five years Total Commercial paper $ 3,566 $ — $ 3,566 Certificates of deposit 1,763 — 1,763 U.S. Treasury securities 13,877 — 13,877 U.S. agency securities 987 — 987 Corporate debt securities 22,231 265 22,496 Total investments AFS $ 42,424 $ 265 $ 42,689

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 28, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories, net are stated at the lower of cost and net realizable value, determined on a first-in, first-out basis and consisted of the following (in thousands): June 28, 2024 December 29, 2023 Raw materials and purchased parts $ 9,453 $ 9,766 Work in process 7,293 5,722 Finished goods 25,033 23,150 Total inventories, gross 41,779 38,638 Less inventory reserves ( 2,497 ) ( 3,508 ) Total inventories, net $ 39,282 $ 35,130

Prepayments, Deposits, and Ot_2

Prepayments, Deposits, and Other Current Assets (Tables)	6 Months Ended
	Jun. 28, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule Of Prepayments, Deposits, and Other Current Assets	Prepayments, deposits, and other current assets consisted of the following (in thousands): June 28, 2024 December 29, 2023 Prepayments and deposits $ 6,901 $ 5,924 Prepaid rent 3,137 292 Prepaid insurance 1,149 2,314 Prepaid marketing costs 1,024 2,141 Consumption tax receivable — 820 Value added tax (VAT) receivable 1,904 2,456 BVG (Swiss Pension) prepayment 946 23 Other (1) 474 739 Total prepayments, deposits and other current assets $ 15,535 $ 14,709 (1) No individual category in “other current assets” exceeds 5 % of the total prepayments, deposits and other current assets.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 28, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, plant and equipment, net consisted of the following (in thousands): June 28, 2024 December 29, 2023 Machinery and equipment $ 34,794 $ 30,874 Computer equipment and software 12,754 8,495 Furniture and fixtures 6,371 4,122 Leasehold improvements 12,995 10,780 Construction in process 41,458 40,364 Total property, plant and equipment, gross 108,372 94,635 Less accumulated depreciation ( 30,872 ) ( 27,800 ) Total property, plant and equipment, net $ 77,500 $ 66,835

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 28, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): June 28, 2024 December 29, 2023 Accrued salaries and wages $ 13,717 $ 12,519 Accrued bonuses 4,054 3,456 Accrued insurance 589 2,315 Income taxes payable 5,270 10,848 Marketing obligations 2,282 1,874 Other (1) 9,201 9,926 Total other current liabilities $ 35,113 $ 40,938 (1) No individual category in “Other” exceeds 5 % of the other current liabilities.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 28, 2024
Leases [Abstract]
Supplemental Balance Sheet Information Related to Finance Leases	Supplemental balance sheet information related to finance leases consisted of the following (dollars in thousands): June 28, 2024 December 29, 2023 Computer equipment and software $ 6 $ 6 Furniture and fixtures 475 475 Finance lease right-of-use assets, gross 481 481 Less accumulated depreciation ( 372 ) ( 298 ) Finance lease right-of-use assets, net $ 109 $ 183 Current finance lease obligations $ 125 $ 165 Long-term finance lease obligations — 42 Total finance lease liability $ 125 $ 207 Weighted-average remaining lease term (in years) 0.8 1.3 Weighted-average discount rate 4.25 % 4.24 %
Supplemental Cash Flow Information Related to Finance Leases	Supplemental cash flow information related to finance leases consisted of the following (dollars in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Amortization of finance lease right-of-use asset $ 37 $ 38 $ 74 $ 77 Interest on finance lease liabilities 2 3 4 7 Cash paid for amounts included in the measurement of finance lease liabilities: Operating cash flows 2 3 4 7 Financing cash flows 42 40 82 82
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases consisted of the following (dollars in thousands): June 28, 2024 December 29, 2023 Machinery and equipment $ 696 $ 735 Computer equipment and software 445 446 Real property 43,302 40,869 Operating lease right-of-use assets, gross 44,443 42,050 Less accumulated depreciation ( 9,472 ) ( 7,663 ) Operating lease right-of-use assets, net $ 34,971 $ 34,387 Current operating lease obligations $ 4,648 $ 4,202 Long-term operating lease obligations 31,499 31,425 Total operating lease liability $ 36,147 $ 35,627 Weighted-average remaining lease term (in years) 7.1 7.3 Weighted-average discount rate 5.52 % 5.48 %
Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to operating leases was as follows (dollars in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Operating lease cost $ 2,089 $ 1,357 $ 4,312 $ 2,464 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows 1,481 1,152 2,865 2,325 Right-of-use assets obtained in exchange for new operating lease liabilities 1,991 1,511 3,486 3,420 Note 7 – Leases (Continued)
Schedule of Estimated Future Maturities of Lease Liabilities under Operating and Finance Leases Having Initial or Remaining Non-Cancelable Lease Terms More Than One Year	Estimated future maturities of lease liabilities under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of June 28, 2024 is as follows (in thousands): . As of June 28, 2024 Operating Leases Finance Leases June 2025 $ 6,776 $ 127 June 2026 5,579 — June 2027 5,884 — June 2028 5,707 — June 2029 5,773 — Thereafter 16,535 — Total future minimum lease payments $ 46,254 $ 127 Less amounts representing interest ( 10,107 ) ( 2 ) Total lease liability $ 36,147 $ 125

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 28, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	The Company recorded an income tax provision as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Provision for income taxes $ 2,955 $ 2,428 $ 4,083 $ 4,437

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)	6 Months Ended
	Jun. 28, 2024
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The Company has defined benefit plans covering employees of its Switzerland and Japan operations. The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Service cost (1) $ 313 $ 254 $ 638 $ 503 Interest cost (2) 87 90 171 177 Expected return on plan assets (2) ( 136 ) ( 91 ) ( 268 ) ( 178 ) Prior service credit (2),(3) ( 45 ) ( 45 ) ( 90 ) ( 90 ) Actuarial loss recognized in current period (2),(3) 28 ( 6 ) 56 ( 13 ) Net periodic pension cost $ 247 $ 202 $ 507 $ 399 (1) Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income. (2) Recognized in other expense, net on the Condensed Consolidated Statements of Income. (3) Amounts reclassified from accumulated other comprehensive income (loss).
Schedule of Defined Benefit Plans Disclosures	The Company currently is not required to and does not make contributions to its Japan pension plan. The Company’s contributions to its Swiss pension plan are as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Employer contribution $ 272 $ 245 $ 539 $ 462

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 28, 2024
Stockholders' Equity Note [Abstract]
Schedule of Compensation Cost	The cost that has been charged against income for stock-based compensation is set forth below (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Employee stock options $ 3,518 $ 3,479 $ 6,691 $ 6,456 Restricted stock 170 79 198 146 RSUs 3,084 2,148 5,396 3,749 PSUs 2,119 2,403 2,804 3,509 Nonemployee stock options 151 314 292 628 Total stock-based compensation expense $ 9,042 $ 8,423 $ 15,381 $ 14,488
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The Company recorded stock-based compensation costs in the following categories (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Cost of sales $ 363 $ 223 $ 661 $ 372 General and administrative 4,981 3,695 8,056 7,058 Selling and marketing 1,319 2,492 2,529 3,349 Research and development 2,379 2,013 4,135 3,709 Total stock-based compensation expense, net 9,042 8,423 15,381 14,488 Amounts capitalized as part of inventory 440 528 777 897 Total stock-based compensation expense, gross $ 9,482 $ 8,951 $ 16,158 $ 15,385
Schedule of Unrecognized Compensation Cost, Non-Vested Stock-Based Compensation Arrangements	As of June 28, 2024, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands): June 28, 2024 Stock options $ 25,633 Restricted stock, RSUs and PSUs 38,796 Total unrecognized stock-based compensation cost $ 64,429
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant. Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Expected dividend yield 0 % 0 % 0 % 0 % Expected volatility 59 % 58 % 59 % 59 % Risk-free interest rate 4.45 % 3.41 % 4.19 % 3.87 % Expected term (in years) 5.29 4.87 5.29 5.02
Schedule of Share-based Compensation, Stock Options, Activity	A summary of stock option activity under the Equity Plan for six months ended June 28, 2024 is presented below: Stock Weighted- Weighted- Aggregate Outstanding at December 29, 2023 2,630 $ 46.38 Granted 597 38.14 Exercised ( 205 ) 27.83 Forfeited or expired ( 114 ) 69.44 Outstanding at June 28, 2024 2,908 $ 45.08 6.81 $ 31,731 Exercisable at June 28, 2024 1,760 $ 44.45 5.29 $ 24,251
Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity	A summary of restricted stock, RSU and PSU activity under the Equity Plan for the six months ended June 28, 2024 is presented below (shares in thousands): Restricted RSUs PSUs Unvested at December 29, 2023 14 401 56 Granted 17 443 390 Vested ( 10 ) ( 122 ) ( 24 ) Forfeited or expired ( 5 ) ( 18 ) ( 16 ) Unvested at June 28, 2024 16 704 406

Basic and Diluted Net Income _2

Basic and Diluted Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 28, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted net income per share (in thousands except per share amounts): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Numerator: Net income $ 7,379 $ 6,064 $ 4,040 $ 8,774 Denominator: Weighted average common shares: Common shares outstanding 49,127 48,428 49,018 48,343 Less: Unvested restricted stock — ( 10 ) — ( 10 ) Denominator for basic calculation 49,127 48,418 49,018 48,333 Weighted average effects of potentially diluted common stock: Stock options 468 986 407 1,050 Unvested restricted stock 7 3 6 3 RSUs 109 46 57 77 PSUs 100 63 41 61 Denominator for diluted calculation 49,811 49,516 49,529 49,524 Net income per share: Basic $ 0.15 $ 0.13 $ 0.08 $ 0.18 Diluted $ 0.15 $ 0.12 $ 0.08 $ 0.18
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share	Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Stock options 3,031 1,874 3,275 1,625 Restricted stock, RSUs and PSUs 180 127 63 24 Total 3,211 2,001 3,338 1,649

Disaggregation of Sales, Geog_2

Disaggregation of Sales, Geographic Sales and Product Sales (Tables)	6 Months Ended
	Jun. 28, 2024
Segment Reporting [Abstract]
Disaggregation of Sales	In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Non-consignment sales $ 94,775 $ 88,068 $ 166,539 $ 155,231 Consignment sales 4,230 4,238 9,822 10,603 Total net sales $ 99,005 $ 92,306 $ 176,361 $ 165,834
Net Sales by Geographic Areas	The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Domestic $ 5,399 $ 4,346 $ 10,334 $ 8,897 Foreign: China 63,395 61,339 101,944 96,429 Japan 9,885 8,415 20,341 19,351 Other (1) 20,326 18,206 43,742 41,157 Total foreign sales 93,606 87,960 166,027 156,937 Total net sales $ 99,005 $ 92,306 $ 176,361 $ 165,834 (1) No other location individually exceeds 10 % of the total sales.
Net Sales by Products and Services	The composition of the Company’s net sales by product line was as follows (in thousands): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 ICLs $ 99,365 $ 93,112 $ 176,516 $ 163,737 Other product sales: Cataract IOLs — 40 — 1,516 Other surgical products (1) ( 360 ) ( 846 ) ( 155 ) 581 Total other product sales ( 360 ) ( 806 ) ( 155 ) 2,097 Total net sales $ 99,005 $ 92,306 $ 176,361 $ 165,834 (1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 29, 2023
Organization And Description Of Business And Accounting Policies [Line Items]
Capitalized cloud-based software implementation costs	$ 8,103,000		$ 8,103,000		$ 2,406,000
Capitalized Computer Software, Amortization	$ 0	$ 0	$ 0	$ 0
Consolidated Accounts Payable | Vendor Concentration Risk | One Vendor
Organization And Description Of Business And Accounting Policies [Line Items]
Concentration risk, percentage			28%
Consolidated Purchases | Vendor Concentration Risk | One Vendor
Organization And Description Of Business And Accounting Policies [Line Items]
Concentration risk, percentage	11%

Investments Available for Sal_2

Investments Available for Sale - Summary of Investments Available for Sale and Related Fair Value Measurement (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 28, 2024	Dec. 29, 2023	Mar. 29, 2024
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 42,762	$ 49,433
Unrealized Gains	5	28
Unrealized Losses	(78)	(70)
Estimated Fair Value	42,689	49,391	$ 42,689
Fair Value, Inputs, Level 1
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	13,877	22,983
Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	28,812	26,408
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	3,565	7,720
Unrealized Gains	1	9
Estimated Fair Value	3,566	7,729	3,566
Commercial Paper | Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	3,566	7,729
Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	1,762	3,716
Unrealized Gains	1	4
Estimated Fair Value	1,763	3,720	1,763
Certificates of Deposit | Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	1,763	3,720
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	13,943	23,036
Unrealized Gains		3
Unrealized Losses	(66)	(56)
Estimated Fair Value	13,877	22,983	13,877
U.S. Treasury Securities | Fair Value, Inputs, Level 1
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	13,877	22,983
U.S. Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	989	3,423
Unrealized Losses	(2)	(4)
Estimated Fair Value	987	3,419	987
U.S. Agency Securities | Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	987	3,419
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	22,503	11,538
Unrealized Gains	3	12
Unrealized Losses	(10)	(10)
Estimated Fair Value	22,496	11,540	$ 22,496
Corporate Debt Securities | Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	$ 22,496	$ 11,540

Investments Available for Sal_3

Investments Available for Sale - Additional Information (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 28, 2024	Jun. 28, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Impairment recognized	$ 0	$ 0
Sale of securities		850,000	$ 600,000
Gain on redemption of securities available for sale		$ 3,000
Realized gain on debt securities available for sale			$ 2,000

Investments Available for Sal_4

Investments Available for Sale - Summary of Fair Value of Investments Available for Sale by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Mar. 29, 2024	Dec. 29, 2023
Schedule Of Available For Sale Securities [Line Items]
Within one year		$ 42,424
After one year through five years		265
Total	$ 42,689	42,689	$ 49,391
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Within one year		3,566
Total	3,566	3,566	7,729
Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Within one year		1,763
Total	1,763	1,763	3,720
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year		13,877
Total	13,877	13,877	22,983
U.S. Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year		987
Total	987	987	3,419
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year		22,231
After one year through five years		265
Total	$ 22,496	$ 22,496	$ 11,540

Inventories - Schedule of Inven

Inventories - Schedule of Inventory, Current (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 29, 2023
Inventory Disclosure [Abstract]
Raw materials and purchased parts	$ 9,453	$ 9,766
Work in process	7,293	5,722
Finished goods	25,033	23,150
Total inventories, gross	41,779	38,638
Less inventory reserves	(2,497)	(3,508)
Total inventories, net	$ 39,282	$ 35,130

Prepayments, Deposits, and Ot_3

Prepayments, Deposits, and Other Current Assets - Schedule Of Prepayments, Deposits, and Other Current Assets (Details) - USD ($) $ in Thousands		Jun. 28, 2024	Dec. 29, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and deposits		$ 6,901	$ 5,924
Prepaid rent		3,137	292
Prepaid insurance		1,149	2,314
Prepaid marketing costs		1,024	2,141
Consumption tax receivable			820
Value added tax (VAT) receivable		1,904	2,456
BVG (Swiss Pension) prepayment		946	23
Other	[1]	474	739
Total prepayments, deposits and other current assets		$ 15,535	$ 14,709
[1] No individual category in “other current assets” exceeds 5 % of the total prepayments, deposits and other current assets.

Prepayments, Deposits, and Ot_4

Prepayments, Deposits, and Other Current Assets - Schedule Of Prepayments, Deposits, and Other Current Assets (Parenthetical) (Details)	Jun. 28, 2024	Dec. 29, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Percent of prepayments deposits and other current assets included in other current assets	5%	5%

Property, Plant and Equipment -

Property, Plant and Equipment - Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 29, 2023
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 34,794	$ 30,874
Computer equipment and software	12,754	8,495
Furniture and fixtures	6,371	4,122
Leasehold improvements	12,995	10,780
Construction in process	41,458	40,364
Total property, plant and equipment, gross	108,372	94,635
Less accumulated depreciation	(30,872)	(27,800)
Total property, plant and equipment, net	$ 77,500	$ 66,835

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands		Jun. 28, 2024	Dec. 29, 2023
Other Liabilities Disclosure [Abstract]
Accrued salaries and wages		$ 13,717	$ 12,519
Accrued bonuses		4,054	3,456
Accrued insurance		589	2,315
Income taxes payable		5,270	10,848
Marketing obligations		2,282	1,874
Other	[1]	9,201	9,926
Total other current liabilities		$ 35,113	$ 40,938
[1] No individual category in “Other” exceeds 5 % of the other current liabilities.

Other Current Liabilities - S_2

Other Current Liabilities - Schedule of Other Current Liabilities (Parenthetical) (Details)	Jun. 28, 2024	Dec. 29, 2023
Other Liabilities Disclosure [Abstract]
Percent of Other Current Liabilities Included in Other	5%	5%

Leases - Additional Information

Leases - Additional Information (Details)	Jun. 28, 2024
Minimum
Lessee Lease Description [Line Items]
Finance lease, term of contract	2 years
Operating lease, term of contract	2 years
Maximum
Lessee Lease Description [Line Items]
Finance lease, term of contract	5 years
Operating lease, term of contract	10 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Finance Leases (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 29, 2023
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 481	$ 481
Less accumulated depreciation	(372)	(298)
Finance lease right-of-use assets, net	109	183
Current finance lease obligations	125	165
Long-term finance lease obligations		42
Total finance lease liability	$ 125	$ 207
Weighted-average remaining lease term (in years)	9 months 18 days	1 year 3 months 18 days
Weighted-average discount rate	4.25%	4.24%
Computer Equipment and Software
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 6	$ 6
Furniture and Fixtures
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 475	$ 475

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Finance Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Leases [Abstract]
Amortization of finance lease right-of-use asset	$ 37	$ 38	$ 74	$ 77
Interest on finance lease liabilities	2	3	4	7
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows	2	3	4	7
Financing cash flows	$ 42	$ 40	$ 82	$ 82

Leases - Supplemental Balance_2

Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 29, 2023
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 44,443	$ 42,050
Less accumulated depreciation	(9,472)	(7,663)
Operating lease right-of-use assets, net	34,971	34,387
Current operating lease obligations	4,648	4,202
Long-term operating lease obligations	31,499	31,425
Total operating lease liability	$ 36,147	$ 35,627
Weighted-average remaining lease term (in years)	7 years 1 month 6 days	7 years 3 months 18 days
Weighted-average discount rate	5.52%	5.48%
Machinery and Equipment
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 696	$ 735
Computer Equipment and Software
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	445	446
Real Property
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 43,302	$ 40,869

Leases - Supplemental Cash Fl_2

Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 2,089	$ 1,357	$ 4,312	$ 2,464
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows	1,481	1,152	2,865	2,325
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,991	$ 1,511	$ 3,486	$ 3,420

Leases - Schedule of Estimated

Leases - Schedule of Estimated Future Maturities of Lease Liabilities under Operating and Finance Leases Having Initial or Remaining Non-Cancelable Lease Terms More Than One Year (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 29, 2023
Operating Lease Liabilities, Payments, Due, Rolling Maturity [Abstract]
June 2025	$ 6,776
June 2026	5,579
June 2027	5,884
June 2028	5,707
June 2029	5,773
Thereafter	16,535
Total future minimum lease payments	46,254
Less amounts representing interest	(10,107)
Total lease liability	36,147	$ 35,627
Finance Lease Liabilities, Payments, Rolling Maturity [Abstract]
June 2025	127
Total future minimum lease payments	127
Less amounts representing interest	(2)
Total lease liability	$ 125	$ 207

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 2,955	$ 2,428	$ 4,083	$ 4,437

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	28.60%	28.60%	50.30%	33.60%
Effective tax rates differ from U.S. federal statutory rate	21%	21%	21%	21%

Defined Benefit Pension Plans -

Defined Benefit Pension Plans - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Service cost	[1]	$ 313	$ 254	$ 638	$ 503
Interest cost	[2]	87	90	171	177
Expected return on plan assets	[2]	(136)	(91)	(268)	(178)
Prior service credit	[2],[3]	(45)	(45)	(90)	(90)
Actuarial loss recognized in current period	[2],[3]	28	(6)	56	(13)
Net periodic pension cost		$ 247	$ 202	$ 507	$ 399
[1] Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income. Recognized in other expense, net on the Condensed Consolidated Statements of Income. Amounts reclassified from accumulated other comprehensive income (loss).

Defined Benefit Pension Plans_2

Defined Benefit Pension Plans - Schedule of Defined Benefit Plans Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Swiss pension plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution	$ 272	$ 245	$ 539	$ 462

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - shares		6 Months Ended
	Jun. 20, 2024	Jun. 28, 2024
Stockholders Equity Note [Line Items]
Weighted-average period of cost expected to recognize		2 years
Estimated forfeiture rate		8%
Omnibus Plan
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period		10 years
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	2,600,000
Share-based compensation arrangement by share-based payment award, number of shares authorized	22,805,000
Omnibus Plan | Employee Stock Option
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period		3 years
Omnibus Plan | Restricted Stock
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant		3,487,255
Omnibus Plan | Restricted Stock | Minimum
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period		1 year
Omnibus Plan | Restricted Stock | Maximum
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period		3 years

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	$ 9,042	$ 8,423	$ 15,381	$ 14,488
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	3,518	3,479	6,691	6,456
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	170	79	198	146
RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	3,084	2,148	5,396	3,749
PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	2,119	2,403	2,804	3,509
Non Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	$ 151	$ 314	$ 292	$ 628

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	$ 9,042	$ 8,423	$ 15,381	$ 14,488
Amounts capitalized as part of inventory	440	528	777	897
Total stock-based compensation expense, gross	9,482	8,951	16,158	15,385
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	363	223	661	372
General and Administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	4,981	3,695	8,056	7,058
Selling and Marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	1,319	2,492	2,529	3,349
Research and Development Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	$ 2,379	$ 2,013	$ 4,135	$ 3,709

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Unrecognized Compensation Cost Related to Non-Vested Stock-Based Compensation Arrangements (Details) $ in Thousands	Jun. 28, 2024 USD ($)
Share-Based Payment Arrangement [Abstract]
Stock options	$ 25,633
Restricted stock, RSUs and PSUs	38,796
Total unrecognized stock-based compensation cost	$ 64,429

Stockholders' Equity - Schedu_4

Stockholders' Equity - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Expected dividend yield	0%	0%	0%	0%
Expected volatility	59%	58%	59%	59%
Risk-free interest rate	4.45%	3.41%	4.19%	3.87%
Expected term (in years)	5 years 3 months 14 days	4 years 10 months 13 days	5 years 3 months 14 days	5 years 7 days

Stockholders' Equity - Schedu_5

Stockholders' Equity - Schedule of Share-based Compensation, Stock Options, Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 28, 2024
Stockholders' Equity Note [Abstract]
Options, Outstanding at December 29, 2023 | shares	2,630
Options, Granted, Shares | shares	597
Options, Exercised, Shares | shares	(205)
Options, Forfeited or expired, Shares | shares	(114)
Options, Outstanding at June 28, 2024 | shares	2,908
Options, Exercisable at June 28, 2024 | shares	1,760
Weighted Average Exercise Price, Options Outstanding at December 29, 2023 | $ / shares	$ 46.38
Weighted Average Exercise Price, Options, Granted | $ / shares	38.14
Weighted Average Exercise Price,Options, Exercised | $ / shares	27.83
Weighted Average Exercise Price, Options, Forfeited or Expired | $ / shares	69.44
Weighted Average Exercise Price, Options Outstanding at June 28, 2024 | $ / shares	45.08
Weighted Average Exercise Price, Options Exercisable at June 28, 2024 | $ / shares	$ 44.45
Weighted Average Remaining Contractual Term, Options, Outstanding at June 28, 2024	6 years 9 months 21 days
Weighted Average Remaining Contractual Term, Options, Exercisable at June 28, 2024	5 years 3 months 14 days
Aggregate Intrinsic Value, Options, Outstanding at June 28, 2024	$ 31,731
Aggregate Intrinsic Value, Options, Outstanding at June 28, 2024	$ 24,251

Stockholders' Equity - Schedu_6

Stockholders' Equity - Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity (Details) shares in Thousands	6 Months Ended
	Jun. 28, 2024 shares
Restricted Stock
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 29, 2023	14
Granted	17
Vested	(10)
Forfeited or expired	(5)
Unvested at June 28, 2024	16
RSUs
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 29, 2023	401
Granted	443
Vested	(122)
Forfeited or expired	(18)
Unvested at June 28, 2024	704
PSUs
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 29, 2023	56
Granted	390
Vested	(24)
Forfeited or expired	(16)
Unvested at June 28, 2024	406

Basic and Diluted Net Income _3

Basic and Diluted Net Income (Loss) Per Share - Summary of Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Numerator:
Net income	$ 7,379	$ 6,064	$ 4,040	$ 8,774
Weighted average common shares:
Common shares outstanding	49,127	48,428	49,018	48,343
Less: Unvested restricted stock		(10)		(10)
Denominator for basic calculation	49,127	48,418	49,018	48,333
Weighted average effects of potentially diluted common stock:
Diluted	49,811	49,516	49,529	49,524
Net income per share:
Basic	$ 0.15	$ 0.13	$ 0.08	$ 0.18
Diluted	$ 0.15	$ 0.12	$ 0.08	$ 0.18
Employee Stock Options
Weighted average effects of potentially diluted common stock:
Diluted	468	986	407	1,050
Unvested Restricted Stock
Weighted average effects of potentially diluted common stock:
Diluted	7	3	6	3
RSUs
Weighted average effects of potentially diluted common stock:
Diluted	109	46	57	77
PSUs
Weighted average effects of potentially diluted common stock:
Diluted	100	63	41	61

Basic and Diluted Net Income _4

Basic and Diluted Net Income (Loss) Per Share - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount	3,211	2,001	3,338	1,649
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount	3,031	1,874	3,275	1,625
Restricted stock, RSUs and PSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount	180	127	63	24

Disaggregation of Sales, Geog_3

Disaggregation of Sales, Geographic Sales and Product Sales - Disaggregation of Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Total net sales	$ 99,005	$ 92,306	$ 176,361	$ 165,834
Non Consignment Sales [Member]
Total net sales	94,775	88,068	166,539	155,231
Consignment Sales [Member]
Total net sales	$ 4,230	$ 4,238	$ 9,822	$ 10,603

Disaggregation of Sales, Geog_4

Disaggregation of Sales, Geographic Sales and Product Sales - Additional Information (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 28, 2024 Country	Jun. 30, 2023	Jun. 28, 2024 Country Segment	Jun. 30, 2023	Dec. 29, 2023
Geographic and Product Data [Line Items]
Number of countries in which Company operates | Country	75		75
Number of operating segments | Segment			1
Sales Revenue, Net | Geographic Concentration Risk [Member] | Other than China and Japan [Member] | Maximum
Geographic and Product Data [Line Items]
Concentration risk, percentage			10%
Sales Revenue, Net | Geographic Concentration Risk [Member] | China [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage	64%	66%	58%	58%
Sales Revenue, Net | Product Concentration Risk [Member] | Ophthalmic Surgical Product [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage			100%
Accounts Receivable [Member] | Geographic Concentration Risk [Member] | China [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage			70%		70%

Disaggregation of Sales, Geog_5

Disaggregation of Sales, Geographic Sales and Product Sales - Net Sales by Geographic Areas (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Geographic And Sales [Line Items]
Total net sales		$ 99,005	$ 92,306	$ 176,361	$ 165,834
Geographic Distribution, Domestic [Member]
Geographic And Sales [Line Items]
Total net sales		5,399	4,346	10,334	8,897
Geographic Distribution, Foreign [Member]
Geographic And Sales [Line Items]
Total net sales		93,606	87,960	166,027	156,937
Geographic Distribution, Foreign [Member] | China [Member]
Geographic And Sales [Line Items]
Total net sales		63,395	61,339	101,944	96,429
Geographic Distribution, Foreign [Member] | JAPAN
Geographic And Sales [Line Items]
Total net sales		9,885	8,415	20,341	19,351
Geographic Distribution, Foreign [Member] | Other [Member]
Geographic And Sales [Line Items]
Total net sales	[1]	$ 20,326	$ 18,206	$ 43,742	$ 41,157
[1] No other location individually exceeds 10 % of the total sales.

Disaggregation of Sales, Geog_6

Disaggregation of Sales, Geographic Sales and Product Sales - Net Sales by Products and Services (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Product Information [Line Items]
Total other product sales		$ (360)	$ (806)	$ (155)	$ 2,097
Total net sales		99,005	92,306	176,361	165,834
ICLs [Member]
Product Information [Line Items]
Revenue from contract with customer, excluding assessed tax		99,365	93,112	176,516	163,737
Cataract IOLs [Member]
Product Information [Line Items]
Total other product sales			40		1,516
Other surgical products [Member]
Product Information [Line Items]
Total other product sales	[1]	$ (360)	$ (846)	$ (155)	$ 581
[1] Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.