STAAR Surgical (STAA) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	STAAR SURGICAL CO
Entity Central Index Key	0000718937
Current Fiscal Year End Date	--12-30
Entity Filer Category	Large Accelerated Filer
Trading Symbol	STAA
Entity Common Stock, Shares Outstanding		48,206,299
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	25651 Atlantic Ocean 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	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 129,242	$ 199,706
Investments available for sale	82,091
Accounts receivable trade, net of allowance for credit losses of $103 and $43, respectively	55,429	43,531
Inventories, net	19,930	17,274
Prepayments, deposits and other current assets	10,218	10,900
Total current assets	296,910	271,411
Investments available for sale	13,360
Property, plant and equipment, net	48,048	35,912
Finance lease right-of-use assets, net	380	506
Operating lease right-of-use assets, net	29,503	31,310
Intangible assets, net	171	218
Goodwill	1,786	1,786
Deferred income taxes	3,710	3,813
Other assets	808	822
Total assets	394,676	345,778
Current liabilities:
Accounts payable	7,567	8,699
Obligations under finance leases	167	127
Obligations under operating leases	3,474	3,283
Allowance for sales returns	5,040	4,816
Other current liabilities	29,072	31,877
Total current liabilities	45,320	48,802
Obligations under finance leases	252	382
Obligations under operating leases	26,032	28,269
Deferred income taxes	1,554	811
Asset retirement obligations	158	198
Pension liability	1,228	8,758
Total liabilities	74,544	87,220
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 60,000 shares authorized: 48,202 and 47,716 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	482	477
Additional paid-in capital	398,448	373,519
Accumulated other comprehensive loss	(310)	(4,048)
Accumulated deficit	(78,488)	(111,390)
Total stockholders’ equity	320,132	258,558
Total liabilities and stockholders’ equity	$ 394,676	$ 345,778

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Allowance for credit losses, current	$ 103	$ 43
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	48,202,000	47,716,000
Common stock, shares outstanding	48,202,000	47,716,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Statement [Abstract]
Net sales	$ 76,046	$ 58,352	$ 220,347	$ 171,471
Cost of sales	15,584	13,051	46,749	37,825
Gross profit	60,462	45,301	173,598	133,646
Selling, general and administrative expenses:
General and administrative	14,011	11,018	39,934	32,671
Selling and marketing	23,130	18,175	64,633	50,229
Research and development	9,616	8,271	26,193	24,790
Total selling, general and administrative expenses	46,757	37,464	130,760	107,690
Operating income	13,705	7,837	42,838	25,956
Other expense, net:
Interest income (expense), net	897	(23)	934	(35)
Loss on foreign currency transactions	(2,129)	(610)	(4,904)	(2,040)
Royalty income	77	185	527	496
Other income (expense), net	27	(13)	178	(47)
Total other expense, net	(1,128)	(461)	(3,265)	(1,626)
Income before income taxes	12,577	7,376	39,573	24,330
Provision for income taxes	2,315	1,356	6,671	4,751
Net income	$ 10,262	$ 6,020	$ 32,902	$ 19,579
Net income per share:
Basic	$ 0.21	$ 0.13	$ 0.69	$ 0.42
Diluted	$ 0.21	$ 0.12	$ 0.67	$ 0.40
Weighted average shares outstanding:
Basic	48,102	47,483	47,915	47,064
Diluted	49,549	49,592	49,371	49,448

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 10,262	$ 6,020	$ 32,902	$ 19,579
Defined benefit plans:
Net change in plan assets	465	90	7,126	2,717
Reclassification into other income (expense), net	54	121	139	361
Investments available for sale unrealized loss	(432)		(432)
Foreign currency translation gain (loss)	(958)	29	(3,474)	(1,198)
Tax effect	312	(32)	379	37
Other comprehensive income (loss), net of tax	(559)	208	3,738	1,917
Comprehensive income	$ 9,703	$ 6,228	$ 36,640	$ 21,496

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 Jan. 01, 2021	$ 197,222	$ 464	$ 338,194	$ (5,545)	$ (135,891)
Balance (in shares) at Jan. 01, 2021		46,448
Net income	19,579				19,579
Other comprehensive income (loss)	1,917			1,917
Common stock issued upon exercise of options	18,322	$ 11	18,311
Common stock issued upon exercise of options (in shares)		1,089
Stock-based compensation	$ 12,067		12,067
Unvested restricted stock (in shares)	3	3
Vested restricted and performance stock	$ 1	$ 1
Vested restricted and performance stock (in shares)		59
Balance at Oct. 01, 2021	249,108	$ 476	368,572	(3,628)	(116,312)
Balance (in shares) at Oct. 01, 2021		47,599
Balance at Jul. 02, 2021	234,622	$ 474	360,316	(3,836)	(122,332)
Balance (in shares) at Jul. 02, 2021		47,391
Net income	6,020				6,020
Other comprehensive income (loss)	208			208
Common stock issued upon exercise of options	4,212	$ 2	4,210
Common stock issued upon exercise of options (in shares)		183
Stock-based compensation	$ 4,046		4,046
Unvested restricted stock (in shares)	3
Vested restricted and performance stock (in shares)		25
Balance at Oct. 01, 2021	$ 249,108	$ 476	368,572	(3,628)	(116,312)
Balance (in shares) at Oct. 01, 2021		47,599
Balance at Dec. 31, 2021	258,558	$ 477	373,519	(4,048)	(111,390)
Balance (in shares) at Dec. 31, 2021		47,716
Net income	32,902				32,902
Other comprehensive income (loss)	3,738			3,738
Common stock issued upon exercise of options	$ 8,179	$ 4	8,175
Common stock issued upon exercise of options (in shares)	417	417
Stock-based compensation	$ 16,754		16,754
Unvested restricted stock (in shares)	4	7
Vested restricted and performance stock	$ 1	$ 1
Vested restricted and performance stock (in shares)		62
Balance at Sep. 30, 2022	320,132	$ 482	398,448	(310)	(78,488)
Balance (in shares) at Sep. 30, 2022		48,202
Balance at Jul. 01, 2022	299,307	$ 480	387,328	249	(88,750)
Balance (in shares) at Jul. 01, 2022		48,024
Net income	10,262				10,262
Other comprehensive income (loss)	(559)			(559)
Common stock issued upon exercise of options	5,034	$ 2	5,032
Common stock issued upon exercise of options (in shares)		166
Stock-based compensation	$ 6,088		6,088
Unvested restricted stock (in shares)	4
Vested restricted and performance stock (in shares)		12
Balance at Sep. 30, 2022	$ 320,132	$ 482	$ 398,448	$ (310)	$ (78,488)
Balance (in shares) at Sep. 30, 2022		48,202

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021
Cash flows from operating activities:
Net income	$ 32,902	$ 19,579
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant, and equipment	3,101	2,671
Amortization of intangibles	22	26
Accretion/Amortization of investments available for sale	(307)
Deferred income taxes	23	845
Change in net pension liability	40	91
Loss on disposal of property and equipment		2
Stock-based compensation expense	15,375	10,985
Provision for sales returns and bad debts	361	1,069
Inventory provision	2,020	1,097
Changes in working capital:
Accounts receivable	(13,108)	(7,072)
Inventories	(4,123)	1,301
Prepayments, deposits, and other current assets	526	1,288
Accounts payable	(1,834)	(40)
Other current liabilities	(2,253)	3,622
Net cash provided by operating activities	32,745	35,464
Cash flows from investing activities:
Acquisition of property and equipment	(14,083)	(8,956)
Purchase of investments available for sale	(95,576)
Net cash used in investing activities	(109,659)	(8,956)
Cash flows from financing activities:
Repayment of finance lease obligations	(85)	(314)
Proceeds from the exercise of stock options	8,179	18,322
Proceeds from vested restricted stock	1	1
Net cash provided by financing activities	8,095	18,009
Effect of exchange rate changes on cash and cash equivalents	(1,645)	(724)
Increase (decrease) in cash and cash equivalents	(70,464)	43,793
Cash and cash equivalents, at beginning of the period	199,706	152,453
Cash and cash equivalents, at end of the period	$ 129,242	$ 196,246

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Note 1 — Basis of Presentation and Significant Accounting Policies The Condensed Consolidated Financial Statements of the Company present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries. 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 31, 2021 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 31, 2021. The Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2022 and October 1, 2021, 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 nine months ended September 30, 2022 and October 1, 2021, 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. Cash and Cash Equivalents Cash and cash equivalents include cash and balances in deposits and money market accounts held at banks and financial institutions. Such balances generally exceed the federal insurance limits; however, the Company periodically assesses the financial condition of the institutions and believes that the risk of any loss is minimal. Investments Available for Sale Investments available for sale (“AFS”) are investments in debt securities for which the Company does not have the positive intent and ability to hold to maturity. The Company’s investment policy primary objective is capital preservation while maximizing its return on investment. Investments may include U.S. government and corporate debt securities, commercial paper, certain certificates of deposit and related security types, that are rated by two nationally recognized statistical rating organizations with minimum investment grade ratings of AAA to A-/A-1+ to A-2, or the equivalent. There are also limits to the amount of credit exposure in any given security type. Investments AFS are measured at fair value and its unrealized gains and losses reported net of the allowance for credit losses and applicable income taxes, are recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The cost of investments AFS is adjusted for amortization of premiums and accretion of discounts to maturity. Interest earned, including amortization of premiums and accretion of discounts recognized, is included in interest income (expense) on the Consolidated Statements of Income. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. The Company recognizes other-than-temporary impairment (“OTTI”) of a debt security for which there has been a decline in fair value below amortized cost if (i) management intends to sell the security, (ii) it is more-likely-than-not that the Company will be required to sell the security before recovery of its amortized cost basis, or (iii) the Company does not expect to recover the entire amortized cost basis of the security. The amount by which amortized cost exceeds the fair value of a debt security that is considered to have OTTI is separated into a component representing the credit loss, which is recognized in other income (expense) on the Consolidated Statements of Income, and a component related to all other factors, which is recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The measurement of the credit loss component is equal to the difference between the debt security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. Note 1 — Basis of Presentation and Significant Accounting Policies (Continued) Vendor Concentration There were no vendors that accounted for over 10% of the Company’s consolidated accounts payable as of September 30, 2022 and December 31, 2021. There were no vendors that accounted for over 10% of the Company’s consolidated purchases for the three and nine months ended September 30, 2022 and October 1, 2021, respectively.

Investments Available for Sale

Investments Available for Sale	9 Months Ended
	Sep. 30, 2022
Investments Debt And Equity Securities [Abstract]
Investments Available for Sale	Note 2 — In the three months ended September 30, 2022, the Company started to invest its cash in slightly higher yielding securities. Investments AFS and the related fair value measurement consisted of the following (dollars in thousands): September 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 2 Fair Value Measurements: Commercial paper $ 35,093 $ 1 $ (75 ) $ 35,019 Certificates of deposit 14,404 1 (66 ) 14,339 U.S. Treasury and agency securities 4,188 — (1 ) 4,187 Corporate debt securities 41,898 5 (297 ) 41,606 Accrued interest receivable 300 — — 300 Total investments AFS $ 95,883 $ 7 $ (439 ) $ 95,451 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 credit impairment. As part of that assessment, the Company concluded that 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 not recognize impairment for the three and nine months ended September 30, 2022. The following table shows the fair value of investments AFS by contractual maturity (dollars in thousands): As of September 30, 2022 Within one year After one year through five years Total Commercial paper $ 35,019 $ — $ 35,019 Certificates of deposit 14,339 — 14,339 U.S. Treasury and agency securities 4,187 — 4,187 Corporate debt securities 28,246 13,360 41,606 Accrued interest receivable 300 — 300 Total investments AFS $ 82,091 $ 13,360 $ 95,451

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Raw materials and purchased parts $ 5,607 $ 3,971 Work in process 4,038 4,031 Finished goods 12,109 10,429 Total inventories, gross 21,754 18,431 Less inventory reserves (1,824 ) (1,157 ) Total inventories, net $ 19,930 $ 17,274

Prepayments, Deposits, and Othe

Prepayments, Deposits, and Other Current Assets	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Prepayments and deposits $ 3,716 $ 4,047 Prepaid insurance 517 2,647 Prepaid marketing 2,590 543 Consumption tax receivable 694 830 Value added tax (VAT) receivable 1,555 2,197 BVG (Swiss Pension) prepayment 722 15 Other ( 1) 424 621 Total prepayments, deposits and other current assets $ 10,218 $ 10,900 (1)

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Machinery and equipment $ 27,860 $ 24,127 Computer equipment and software 9,243 8,807 Furniture and fixtures 4,453 3,658 Leasehold improvements 12,212 11,821 Construction in process 31,398 21,827 Total property, plant and equipment, gross 85,166 70,240 Less accumulated depreciation (37,118 ) (34,328 ) Total property, plant and equipment, net $ 48,048 $ 35,912

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 6 – Intangible Assets Intangible assets, net consisted of the following (in thousands): September 30, 2022 December 31, 2021 Long-lived amortized intangible assets Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Patents and licenses $ 9,194 $ (9,023 ) $ 171 $ 9,315 $ (9,097 ) $ 218

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Sep. 30, 2022
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Note 7 – Other Current Liabilities Other current liabilities consisted of the following (in thousands): September 30, 2022 December 31, 2021 Accrued salaries and wages $ 9,174 $ 12,030 Accrued bonuses 5,356 8,091 Income taxes payable 5,232 2,248 Marketing obligations 2,418 2,243 Other ( 1) 6,892 7,265 Total other current liabilities $ 29,072 $ 31,877 (1) No individual item in “Other” exceeds 5% of the other current liabilities.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Note 8 – 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): September 30, 2022 December 31, 2021 Machinery and equipment $ 28 $ 35 Computer equipment and software 16 506 Furniture and fixtures 475 475 Finance lease right-of-use assets, gross 519 1,016 Less accumulated depreciation (139 ) (510 ) Finance lease right-of-use assets, net $ 380 $ 506 Current finance lease obligations $ 167 $ 127 Long-term finance lease obligations 252 382 Total finance lease liability $ 419 $ 509 Weighted-average remaining lease term (in years) 2.5 3.2 Weighted-average discount rate 4.11 % 4.02 % Note 8 – Leases (Continued) Finance Leases (Continued) Supplemental cash flow information related to finance leases consisted of the following (dollars in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Amortization of finance lease right-of-use asset $ 39 $ 15 $ 121 $ 71 Interest on finance lease liabilities 5 1 13 6 Cash paid for amounts included in the measurement of finance lease liabilities: Operating cash flows 5 1 13 6 Financing cash flows 40 36 85 314 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): September 30, 2022 December 31, 2021 Machinery and equipment $ 762 $ 760 Computer equipment and software 446 472 Real property 33,751 34,426 Operating lease right-of-use assets, gross 34,959 35,658 Less accumulated depreciation (5,456 ) (4,348 ) Operating lease right-of-use assets, net $ 29,503 $ 31,310 Current operating lease obligations $ 3,474 $ 3,283 Long-term operating lease obligations 26,032 28,269 Total operating lease liability $ 29,506 $ 31,552 Weighted-average remaining lease term (in years) 7.6 7.8 Weighted-average discount rate 4.04 % 3.56 % Supplemental cash flow information related to operating leases was as follows (dollars in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Operating lease cost $ 1,167 $ 931 $ 3,471 $ 2,571 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows 1,103 846 3,069 2,432 Right-of-use assets obtained in exchange for new operating lease liabilities 126 15,212 1,166 19,219 Note 8 – Leases (Continued) Maturities of Lease Liabilities Maturities of lease liabilities under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of September 30, 2022 is as follows (in thousands): . As of September 30, 2022 12 Months Ended Operating Leases Finance Leases September 2023 $ 5,179 $ 181 September 2024 5,152 176 September 2025 4,224 85 September 2026 3,659 — September 2027 3,671 — Thereafter 13,099 — Total future minimum lease payments $ 34,984 $ 442 Less amounts representing interest (5,478 ) (23 ) Present value of future minimum lease payments $ 29,506 $ 419

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 9 — Income Taxes The Company recorded an income tax provision as follows (in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Provision for income taxes $ 2,315 $ 1,356 $ 6,671 $ 4,751 The effective tax rates for the three months ended September 30, 2022 and October 1, 2021 was 18.4% and 18.4%, respectively, and was 16.9% and 19.5%, for the nine months ended September 30, 2022 and October 1, 2021, respectively. The Company’s effective tax rates differ from the U.S. federal statutory rate of 21% for the three and nine months ended September 30, 2022 and October 1, 2021, respectively, primarily due to the income taxes generated in foreign jurisdictions. The differences in the effective tax rate for the three and nine months ended September 30, 2022 compared to the same period in 2021 was primarily due to jurisdictions in which the income is earned.

Defined Benefit Pension Plans

Defined Benefit Pension Plans	9 Months Ended
	Sep. 30, 2022
Compensation And Retirement Disclosure [Abstract]
Defined Benefit Pension Plans	Note 10 – 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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Service cost ( 1) $ 306 $ 326 $ 941 $ 1,003 Interest cost ( 2) 22 14 63 42 Expected return on plan assets ( 2) (125 ) (99 ) (366 ) (299 ) Prior service credit ( 2),(3) (44 ) (10 ) (135 ) (32 ) Actuarial loss recognized in current period ( 2),(3) 98 131 274 393 Net periodic pension cost $ 257 $ 362 $ 777 $ 1,107 (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). Note 10 – Defined Benefit Pension Plans (Continued) 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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Employer contribution $ 230 $ 204 $ 666 $ 601

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Stockholders Equity Note [Abstract]
Stockholders' Equity	Note 11 — Stockholders’ Equity Stock-Based Compensation The cost that has been charged against income for stock-based compensation is set forth below (in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Employee stock options $ 2,865 $ 2,594 $ 7,649 $ 7,850 Restricted stock 67 109 618 507 Restricted stock units 1,249 700 3,242 2,048 Performance stock units 1,240 124 2,932 325 Nonemployee stock options 306 136 934 255 Total stock-based compensation expense $ 5,727 $ 3,663 $ 15,375 $ 10,985 The Company recorded stock-based compensation costs in the following categories (in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Cost of sales $ 233 $ 61 $ 409 $ 150 General and administrative 2,584 1,671 7,171 4,925 Selling and marketing 1,335 851 3,548 2,637 Research and development 1,575 1,080 4,247 3,273 Total stock-based compensation expense, net 5,727 3,663 15,375 10,985 Amounts capitalized as part of inventory 361 383 1,379 1,082 Total stock-based compensation expense, gross $ 6,088 $ 4,046 $ 16,754 $ 12,067 Incentive Plan The Amended and Restated Omnibus Equity Incentive Plan (“the Plan”) provides for various forms of stock-based incentives. To date, of the available forms of awards under the Plan, the Company has granted only stock options, restricted stock, unrestricted share grants, restricted stock units (“RSUs”) and performance stock units (“PSUs”). Options under the Plan are granted at fair market value on the date of grant, become exercisable generally over a three-year Note 11 — Stockholders’ Equity (Continued) Assumptions The fair value of each 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 options granted is derived from the historical exercises and post-vesting cancellations 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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Expected dividend yield 0 % 0 % 0 % 0 % Expected volatility 54 % 53 % 54 % 53 % Risk-free interest rate 2.91 % 0.79 % 1.88 % 0.84 % Expected term (in years) 5.10 5.38 5.10 5.38 Stock Options A summary of stock option activity under the Plan for nine months ended September 30, 2022 is presented below: Stock Options (in 000’s) Minimum Exercise Price Maximum Exercise Price Outstanding at December 31, 2021 2,435 Granted 443 Exercised (417 ) Forfeited or expired (23 ) Outstanding at September 30, 2022 2,438 $ 5.34 $ 154.96 Exercisable at September 30, 2022 1,778 Restricted Stock, Restricted Stock Units and Performance Stock Units A summary of restricted stock, RSUs and PSUs activity under the Plan for the nine months ended September 30, 2022 is presented below (shares in thousands): Restricted Stock RSUs PSUs Unvested at December 31, 2021 3 131 10 Granted 6 116 113 Vested (5 ) (57 ) (5 ) Unvested at September 30, 2022 4 190 118

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12 - 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. STAAR 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. Employment Agreements The Company’s Chief Executive Officer entered into an employment agreement with the Company, effective March 1, 2015. She and certain officers have as provisions of their agreements certain rights, including continuance of cash compensation and benefits, upon a “change in control,” which may include an acquisition of substantially all its assets, or termination “without cause or for good reason” as defined in the employment agreements.

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Net Income Per Share	Note 13 — 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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Numerator: Net income $ 10,262 $ 6,020 $ 32,902 $ 19,579 Denominator: Weighted average common shares: Common shares outstanding 48,106 47,486 47,919 47,067 Less: Unvested restricted stock (4 ) (3 ) (4 ) (3 ) Denominator for basic calculation 48,102 47,483 47,915 47,064 Weighted average effects of potentially diluted common stock: Stock options 1,336 2,013 1,378 2,277 Unvested restricted stock 2 — 2 6 RSUs 64 86 55 90 PSUs 45 10 21 11 Denominator for diluted calculation 49,549 49,592 49,371 49,448 Net income per share: Basic $ 0.21 $ 0.13 $ 0.69 $ 0.42 Diluted $ 0.21 $ 0.12 $ 0.67 $ 0.40 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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Stock options 864 33 865 201 Restricted stock, RSUs and PSUs 2 6 20 3 Total 866 39 885 204

Disaggregation of Sales, Geogra

Disaggregation of Sales, Geographic Sales and Product Sales	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Disaggregation of Sales, Geographic Sales and Product Sales	Note 14 — 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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Non-consignment sales $ 71,223 $ 53,819 $ 205,236 $ 156,604 Consignment sales 4,823 4,533 15,111 14,867 Total net sales $ 76,046 $ 58,352 $ 220,347 $ 171,471 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. thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Domestic $ 3,873 $ 2,385 $ 10,375 $ 7,429 Foreign: China 42,246 28,411 116,635 80,984 Japan 10,546 10,488 32,481 29,374 Other ( 1) 19,381 17,068 60,856 53,684 Total foreign sales 72,173 55,967 209,972 164,042 Total net sales $ 76,046 $ 58,352 $ 220,347 $ 171,471 (1) No other location individually exceeds 10% of the total sales. 100 Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 ICLs $ 71,953 $ 54,153 $ 208,550 $ 159,889 Other product sales: Cataract IOLs 2,191 2,525 7,640 9,324 Other surgical products 1,902 1,674 4,157 2,258 Total other product sales 4,093 4,199 11,797 11,582 Total net sales $ 76,046 $ 58,352 $ 220,347 $ 171,471 One customer, the Company’s distributor in China, accounted for 56% and 49% of net sales for the three months ended September 30, 2022 and October 1, 2021, respectively, and the same customer accounted for 53% and 47% for the nine months ended September 30, 2022 and October 1, 2021, respectively. As of September 30, 2022 and December 31, 2021, respectively, one customer, the Company’s distributor in China, accounted for 57% and 47% of consolidated trade receivables.

COVID-19 Developments

COVID-19 Developments	9 Months Ended
	Sep. 30, 2022
C O V I D19 Developments [Abstract]
COVID-19 Developments	Note 15 — COVID-19 Developments In December 2019, COVID-19 surfaced and in March 2020, the World Health Organization declared a pandemic related to the rapid spread of COVID-19 around the world. The impact of the COVID-19 outbreak on the businesses and the economy in the U.S. and the rest of the world is, and is expected to continue to be, uncertain and may continue to be significant as COVID-19 variant strains emerge. The Company’s revenues have been adversely impacted, and the Company experienced a substantial slowdown in sales beginning March 20, 2020 in global geographies characterized as “hot spots” for the COVID-19 virus, including parts of Europe, North America, Asia, the Middle East and India. In certain of these markets, sales have paused as elective surgeries are discouraged to support COVID-19 related needs. The Company continues to monitor the commercial and operational impact of new variants of COVID-19.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	The Condensed Consolidated Financial Statements of the Company present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries. 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 31, 2021 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 31, 2021. The Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2022 and October 1, 2021, 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 nine months ended September 30, 2022 and October 1, 2021, 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.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and balances in deposits and money market accounts held at banks and financial institutions. Such balances generally exceed the federal insurance limits; however, the Company periodically assesses the financial condition of the institutions and believes that the risk of any loss is minimal.
Investments Available for Sale	Investments Available for Sale Investments available for sale (“AFS”) are investments in debt securities for which the Company does not have the positive intent and ability to hold to maturity. The Company’s investment policy primary objective is capital preservation while maximizing its return on investment. Investments may include U.S. government and corporate debt securities, commercial paper, certain certificates of deposit and related security types, that are rated by two nationally recognized statistical rating organizations with minimum investment grade ratings of AAA to A-/A-1+ to A-2, or the equivalent. There are also limits to the amount of credit exposure in any given security type. Investments AFS are measured at fair value and its unrealized gains and losses reported net of the allowance for credit losses and applicable income taxes, are recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The cost of investments AFS is adjusted for amortization of premiums and accretion of discounts to maturity. Interest earned, including amortization of premiums and accretion of discounts recognized, is included in interest income (expense) on the Consolidated Statements of Income. The cost of investments for purposes of computing realized and unrealized gains and losses is based on the specific identification method. The Company recognizes other-than-temporary impairment (“OTTI”) of a debt security for which there has been a decline in fair value below amortized cost if (i) management intends to sell the security, (ii) it is more-likely-than-not that the Company will be required to sell the security before recovery of its amortized cost basis, or (iii) the Company does not expect to recover the entire amortized cost basis of the security. The amount by which amortized cost exceeds the fair value of a debt security that is considered to have OTTI is separated into a component representing the credit loss, which is recognized in other income (expense) on the Consolidated Statements of Income, and a component related to all other factors, which is recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The measurement of the credit loss component is equal to the difference between the debt security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield.
Vendor Concentration	Vendor Concentration There were no vendors that accounted for over 10% of the Company’s consolidated accounts payable as of September 30, 2022 and December 31, 2021. There were no vendors that accounted for over 10% of the Company’s consolidated purchases for the three and nine months ended September 30, 2022 and October 1, 2021, respectively.

Investments Available for Sale

Investments Available for Sale (Tables)	9 Months Ended
	Sep. 30, 2022
Investments Debt And Equity Securities [Abstract]
Summary of Investments Available for Sale and Related Fair Value Measurement	In the three months ended September 30, 2022, the Company started to invest its cash in slightly higher yielding securities. Investments AFS and the related fair value measurement consisted of the following (dollars in thousands): September 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 2 Fair Value Measurements: Commercial paper $ 35,093 $ 1 $ (75 ) $ 35,019 Certificates of deposit 14,404 1 (66 ) 14,339 U.S. Treasury and agency securities 4,188 — (1 ) 4,187 Corporate debt securities 41,898 5 (297 ) 41,606 Accrued interest receivable 300 — — 300 Total investments AFS $ 95,883 $ 7 $ (439 ) $ 95,451
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 September 30, 2022 Within one year After one year through five years Total Commercial paper $ 35,019 $ — $ 35,019 Certificates of deposit 14,339 — 14,339 U.S. Treasury and agency securities 4,187 — 4,187 Corporate debt securities 28,246 13,360 41,606 Accrued interest receivable 300 — 300 Total investments AFS $ 82,091 $ 13,360 $ 95,451

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Raw materials and purchased parts $ 5,607 $ 3,971 Work in process 4,038 4,031 Finished goods 12,109 10,429 Total inventories, gross 21,754 18,431 Less inventory reserves (1,824 ) (1,157 ) Total inventories, net $ 19,930 $ 17,274

Prepayments, Deposits, and Ot_2

Prepayments, Deposits, and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Prepayments and deposits $ 3,716 $ 4,047 Prepaid insurance 517 2,647 Prepaid marketing 2,590 543 Consumption tax receivable 694 830 Value added tax (VAT) receivable 1,555 2,197 BVG (Swiss Pension) prepayment 722 15 Other ( 1) 424 621 Total prepayments, deposits and other current assets $ 10,218 $ 10,900 (1)

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property Plant And Equipment [Abstract]
Property, Plant and Equipment, Net	Property, plant and equipment, net consisted of the following (in thousands): September 30, 2022 December 31, 2021 Machinery and equipment $ 27,860 $ 24,127 Computer equipment and software 9,243 8,807 Furniture and fixtures 4,453 3,658 Leasehold improvements 12,212 11,821 Construction in process 31,398 21,827 Total property, plant and equipment, gross 85,166 70,240 Less accumulated depreciation (37,118 ) (34,328 ) Total property, plant and equipment, net $ 48,048 $ 35,912

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets, net consisted of the following (in thousands): September 30, 2022 December 31, 2021 Long-lived amortized intangible assets Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Patents and licenses $ 9,194 $ (9,023 ) $ 171 $ 9,315 $ (9,097 ) $ 218

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): September 30, 2022 December 31, 2021 Accrued salaries and wages $ 9,174 $ 12,030 Accrued bonuses 5,356 8,091 Income taxes payable 5,232 2,248 Marketing obligations 2,418 2,243 Other ( 1) 6,892 7,265 Total other current liabilities $ 29,072 $ 31,877 (1) No individual item in “Other” exceeds 5% of the other current liabilities.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
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): September 30, 2022 December 31, 2021 Machinery and equipment $ 28 $ 35 Computer equipment and software 16 506 Furniture and fixtures 475 475 Finance lease right-of-use assets, gross 519 1,016 Less accumulated depreciation (139 ) (510 ) Finance lease right-of-use assets, net $ 380 $ 506 Current finance lease obligations $ 167 $ 127 Long-term finance lease obligations 252 382 Total finance lease liability $ 419 $ 509 Weighted-average remaining lease term (in years) 2.5 3.2 Weighted-average discount rate 4.11 % 4.02 %
Supplemental Cash Flow Information Related to Finance Leases	Note 8 – Leases (Continued) Finance Leases (Continued) Supplemental cash flow information related to finance leases consisted of the following (dollars in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Amortization of finance lease right-of-use asset $ 39 $ 15 $ 121 $ 71 Interest on finance lease liabilities 5 1 13 6 Cash paid for amounts included in the measurement of finance lease liabilities: Operating cash flows 5 1 13 6 Financing cash flows 40 36 85 314
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases consisted of the following (dollars in thousands): September 30, 2022 December 31, 2021 Machinery and equipment $ 762 $ 760 Computer equipment and software 446 472 Real property 33,751 34,426 Operating lease right-of-use assets, gross 34,959 35,658 Less accumulated depreciation (5,456 ) (4,348 ) Operating lease right-of-use assets, net $ 29,503 $ 31,310 Current operating lease obligations $ 3,474 $ 3,283 Long-term operating lease obligations 26,032 28,269 Total operating lease liability $ 29,506 $ 31,552 Weighted-average remaining lease term (in years) 7.6 7.8 Weighted-average discount rate 4.04 % 3.56 %
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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Operating lease cost $ 1,167 $ 931 $ 3,471 $ 2,571 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows 1,103 846 3,069 2,432 Right-of-use assets obtained in exchange for new operating lease liabilities 126 15,212 1,166 19,219
Schedule of Maturities of Lease Liabilities under Operating and Finance Leases Having Initial or Remaining Non-Cancelable Lease Terms More Than One Year	Maturities of lease liabilities under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of September 30, 2022 is as follows (in thousands): . As of September 30, 2022 12 Months Ended Operating Leases Finance Leases September 2023 $ 5,179 $ 181 September 2024 5,152 176 September 2025 4,224 85 September 2026 3,659 — September 2027 3,671 — Thereafter 13,099 — Total future minimum lease payments $ 34,984 $ 442 Less amounts representing interest (5,478 ) (23 ) Present value of future minimum lease payments $ 29,506 $ 419

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	The Company recorded an income tax provision as follows (in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Provision for income taxes $ 2,315 $ 1,356 $ 6,671 $ 4,751

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Compensation And Retirement Disclosure [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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Service cost ( 1) $ 306 $ 326 $ 941 $ 1,003 Interest cost ( 2) 22 14 63 42 Expected return on plan assets ( 2) (125 ) (99 ) (366 ) (299 ) Prior service credit ( 2),(3) (44 ) (10 ) (135 ) (32 ) Actuarial loss recognized in current period ( 2),(3) 98 131 274 393 Net periodic pension cost $ 257 $ 362 $ 777 $ 1,107 (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	Note 10 – Defined Benefit Pension Plans (Continued) 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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Employer contribution $ 230 $ 204 $ 666 $ 601

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Employee stock options $ 2,865 $ 2,594 $ 7,649 $ 7,850 Restricted stock 67 109 618 507 Restricted stock units 1,249 700 3,242 2,048 Performance stock units 1,240 124 2,932 325 Nonemployee stock options 306 136 934 255 Total stock-based compensation expense $ 5,727 $ 3,663 $ 15,375 $ 10,985
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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Cost of sales $ 233 $ 61 $ 409 $ 150 General and administrative 2,584 1,671 7,171 4,925 Selling and marketing 1,335 851 3,548 2,637 Research and development 1,575 1,080 4,247 3,273 Total stock-based compensation expense, net 5,727 3,663 15,375 10,985 Amounts capitalized as part of inventory 361 383 1,379 1,082 Total stock-based compensation expense, gross $ 6,088 $ 4,046 $ 16,754 $ 12,067
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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Expected dividend yield 0 % 0 % 0 % 0 % Expected volatility 54 % 53 % 54 % 53 % Risk-free interest rate 2.91 % 0.79 % 1.88 % 0.84 % Expected term (in years) 5.10 5.38 5.10 5.38
Schedule of Share-based Compensation, Stock Options, Activity	A summary of stock option activity under the Plan for nine months ended September 30, 2022 is presented below: Stock Options (in 000’s) Minimum Exercise Price Maximum Exercise Price Outstanding at December 31, 2021 2,435 Granted 443 Exercised (417 ) Forfeited or expired (23 ) Outstanding at September 30, 2022 2,438 $ 5.34 $ 154.96 Exercisable at September 30, 2022 1,778
Schedule of Share-based Compensation, Restricted Stock, RSUs and PSUs Activity	A summary of restricted stock, RSUs and PSUs activity under the Plan for the nine months ended September 30, 2022 is presented below (shares in thousands): Restricted Stock RSUs PSUs Unvested at December 31, 2021 3 131 10 Granted 6 116 113 Vested (5 ) (57 ) (5 ) Unvested at September 30, 2022 4 190 118

Basic and Diluted Net Income _2

Basic and Diluted Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Numerator: Net income $ 10,262 $ 6,020 $ 32,902 $ 19,579 Denominator: Weighted average common shares: Common shares outstanding 48,106 47,486 47,919 47,067 Less: Unvested restricted stock (4 ) (3 ) (4 ) (3 ) Denominator for basic calculation 48,102 47,483 47,915 47,064 Weighted average effects of potentially diluted common stock: Stock options 1,336 2,013 1,378 2,277 Unvested restricted stock 2 — 2 6 RSUs 64 86 55 90 PSUs 45 10 21 11 Denominator for diluted calculation 49,549 49,592 49,371 49,448 Net income per share: Basic $ 0.21 $ 0.13 $ 0.69 $ 0.42 Diluted $ 0.21 $ 0.12 $ 0.67 $ 0.40
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share	Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Stock options 864 33 865 201 Restricted stock, RSUs and PSUs 2 6 20 3 Total 866 39 885 204

Disaggregation of Sales, Geog_2

Disaggregation of Sales, Geographic Sales and Product Sales (Tables)	9 Months Ended
	Sep. 30, 2022
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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Non-consignment sales $ 71,223 $ 53,819 $ 205,236 $ 156,604 Consignment sales 4,823 4,533 15,111 14,867 Total net sales $ 76,046 $ 58,352 $ 220,347 $ 171,471
Net Sales by Geographic Areas	The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands): Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 Domestic $ 3,873 $ 2,385 $ 10,375 $ 7,429 Foreign: China 42,246 28,411 116,635 80,984 Japan 10,546 10,488 32,481 29,374 Other ( 1) 19,381 17,068 60,856 53,684 Total foreign sales 72,173 55,967 209,972 164,042 Total net sales $ 76,046 $ 58,352 $ 220,347 $ 171,471 (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 Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 ICLs $ 71,953 $ 54,153 $ 208,550 $ 159,889 Other product sales: Cataract IOLs 2,191 2,525 7,640 9,324 Other surgical products 1,902 1,674 4,157 2,258 Total other product sales 4,093 4,199 11,797 11,582 Total net sales $ 76,046 $ 58,352 $ 220,347 $ 171,471

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) - Vendor Concentration Risk - Maximum	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Consolidated Accounts Payable
Organization And Description Of Business And Accounting Policies [Line Items]
Concentration risk, percentage		10%		10%
Consolidated Purchases
Organization And Description Of Business And Accounting Policies [Line Items]
Concentration risk, percentage	10%		10%	10%	10%

Investments Available for Sal_2

Investments Available for Sale - Summary of Investments Available for Sale and Related Fair Value Measurement (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	$ 95,451
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	35,019
Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	14,339
U.S. Treasury and Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	4,187
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	41,606
Accrued Interest Receivable
Schedule Of Available For Sale Securities [Line Items]
Estimated Fair Value	300
Level 2
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	95,883
Unrealized Gains	7
Unrealized Losses	(439)
Estimated Fair Value	95,451
Level 2 | Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	35,093
Unrealized Gains	1
Unrealized Losses	(75)
Estimated Fair Value	35,019
Level 2 | Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	14,404
Unrealized Gains	1
Unrealized Losses	(66)
Estimated Fair Value	14,339
Level 2 | U.S. Treasury and Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	4,188
Unrealized Losses	(1)
Estimated Fair Value	4,187
Level 2 | Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	41,898
Unrealized Gains	5
Unrealized Losses	(297)
Estimated Fair Value	41,606
Level 2 | Accrued Interest Receivable
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	300
Estimated Fair Value	$ 300

Investments Available for Sal_3

Investments Available for Sale - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Investments Debt And Equity Securities [Abstract]
Impairment recognized	$ 0	$ 0

Investments Available for Sal_4

Investments Available for Sale - Summary of Fair Value of Investments Available for Sale by Contractual Maturity (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Within one year	$ 82,091
After one year through five years	13,360
Total	95,451
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Within one year	35,019
Total	35,019
Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Within one year	14,339
Total	14,339
U.S. Treasury and Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year	4,187
Total	4,187
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year	28,246
After one year through five years	13,360
Total	41,606
Accrued Interest Receivable
Schedule Of Available For Sale Securities [Line Items]
Within one year	300
Total	$ 300

Inventories - Schedule of Inven

Inventories - Schedule of Inventory, Current (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials and purchased parts	$ 5,607	$ 3,971
Work in process	4,038	4,031
Finished goods	12,109	10,429
Total inventories, gross	21,754	18,431
Less inventory reserves	(1,824)	(1,157)
Total inventories, net	$ 19,930	$ 17,274

Prepayments, Deposits, and Ot_3

Prepayments, Deposits, and Other Current Assets - Schedule Of Prepayments, Deposits, and Other Current Assets (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepayments and deposits		$ 3,716	$ 4,047
Prepaid insurance		517	2,647
Prepaid marketing		2,590	543
Consumption tax receivable		694	830
Value added tax (VAT) receivable		1,555	2,197
BVG (Swiss Pension) prepayment		722	15
Other	[1]	424	621
Total prepayments, deposits and other current assets		$ 10,218	$ 10,900
[1]No individual item 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)	Sep. 30, 2022	Dec. 31, 2021
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	Sep. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Machinery and equipment	$ 27,860	$ 24,127
Computer equipment and software	9,243	8,807
Furniture and fixtures	4,453	3,658
Leasehold improvements	12,212	11,821
Construction in process	31,398	21,827
Total property, plant and equipment, gross	85,166	70,240
Less accumulated depreciation	(37,118)	(34,328)
Total property, plant and equipment, net	$ 48,048	$ 35,912

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Long-lived intangible assets
Long-lived intangible assets, Net	$ 171	$ 218
Patents and licenses
Long-lived intangible assets
Long-lived intangible assets, Gross Carrying Amount	9,194	9,315
Long-lived intangible assets, Accumulated Amortization	(9,023)	(9,097)
Long-lived intangible assets, Net	$ 171	$ 218

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrued salaries and wages		$ 9,174	$ 12,030
Accrued bonuses		5,356	8,091
Income taxes payable		5,232	2,248
Marketing obligations		2,418	2,243
Other	[1]	6,892	7,265
Total other current liabilities		$ 29,072	$ 31,877
[1]No individual item in “Other” exceeds 5% of the other current liabilities

Other Current Liabilities - S_2

Other Current Liabilities - Schedule of Other Current Liabilities (Parenthetical) (Details)	Sep. 30, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Percent of Other Current Liabilities Included in Other	5%	5%

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2022
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	Sep. 30, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 519	$ 1,016
Less accumulated depreciation	(139)	(510)
Finance lease right-of-use assets, net	380	506
Current finance lease obligations	167	127
Long-term finance lease obligations	252	382
Total finance lease liability	$ 419	$ 509
Weighted-average remaining lease term (in years)	2 years 6 months	3 years 2 months 12 days
Weighted-average discount rate	4.11%	4.02%
Machinery and Equipment
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 28	$ 35
Computer Equipment and Software
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	16	506
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		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Leases [Abstract]
Amortization of finance lease right-of-use asset	$ 39	$ 15	$ 121	$ 71
Interest on finance lease liabilities	5	1	13	6
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows	5	1	13	6
Financing cash flows	$ 40	$ 36	$ 85	$ 314

Leases - Supplemental Balance_2

Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 34,959	$ 35,658
Less accumulated depreciation	(5,456)	(4,348)
Operating lease right-of-use assets, net	29,503	31,310
Current operating lease obligations	3,474	3,283
Long-term operating lease obligations	26,032	28,269
Total operating lease liability	$ 29,506	$ 31,552
Weighted-average remaining lease term (in years)	7 years 7 months 6 days	7 years 9 months 18 days
Weighted-average discount rate	4.04%	3.56%
Machinery and Equipment
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 762	$ 760
Computer Equipment and Software
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	446	472
Real Property
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 33,751	$ 34,426

Leases - Supplemental Cash Fl_2

Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Leases [Abstract]
Operating lease cost	$ 1,167	$ 931	$ 3,471	$ 2,571
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows	1,103	846	3,069	2,432
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 126	$ 15,212	$ 1,166	$ 19,219

Leases - Schedule of Maturities

Leases - Schedule of 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	Sep. 30, 2022	Dec. 31, 2021
Operating Lease Liabilities, Payments, Due, Rolling Maturity [Abstract]
September 2023	$ 5,179
September 2024	5,152
September 2025	4,224
September 2026	3,659
September 2027	3,671
Thereafter	13,099
Total future minimum lease payments	34,984
Less amounts representing interest	(5,478)
Present value of future minimum lease payments	29,506	$ 31,552
Finance Lease Liabilities, Payments, Rolling Maturity [Abstract]
September 2023	181
September 2024	176
September 2025	85
Total future minimum lease payments	442
Less amounts representing interest	(23)
Present value of future minimum lease payments	$ 419	$ 509

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 2,315	$ 1,356	$ 6,671	$ 4,751

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	18.40%	18.40%	16.90%	19.50%
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		9 Months Ended
		Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Compensation And Retirement Disclosure [Abstract]
Service cost	[1]	$ 306	$ 326	$ 941	$ 1,003
Interest cost	[2]	22	14	63	42
Expected return on plan assets	[2]	(125)	(99)	(366)	(299)
Prior service credit	[2],[3]	(44)	(10)	(135)	(32)
Actuarial loss recognized in current period	[2],[3]	98	131	274	393
Net periodic pension cost		$ 257	$ 362	$ 777	$ 1,107
[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).

Defined Benefit Pension Plans_2

Defined Benefit Pension Plans - Schedule of Defined Benefit Plans Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Swiss pension plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 230	$ 204	$ 666	$ 601

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 5,727	$ 3,663	$ 15,375	$ 10,985
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	2,865	2,594	7,649	7,850
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	67	109	618	507
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,249	700	3,242	2,048
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,240	124	2,932	325
Non Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 306	$ 136	$ 934	$ 255

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		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	$ 5,727	$ 3,663	$ 15,375	$ 10,985
Amounts capitalized as part of inventory	361	383	1,379	1,082
Total stock-based compensation expense, gross	6,088	4,046	16,754	12,067
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	233	61	409	150
General and Administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	2,584	1,671	7,171	4,925
Selling and Marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	1,335	851	3,548	2,637
Research and Development Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	$ 1,575	$ 1,080	$ 4,247	$ 3,273

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 shares
Stockholders Equity Note [Line Items]
Estimated forfeiture rate	5%
Omnibus Plan
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period	10 years
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	2,133,765
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 - Schedu_3

Stockholders' Equity - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Stockholders Equity Note [Abstract]
Expected dividend yield	0%	0%	0%	0%
Expected volatility	54%	53%	54%	53%
Risk-free interest rate	2.91%	0.79%	1.88%	0.84%
Expected term (in years)	5 years 1 month 6 days	5 years 4 months 17 days	5 years 1 month 6 days	5 years 4 months 17 days

Stockholders' Equity - Schedu_4

Stockholders' Equity - Schedule of Share-based Compensation, Stock Options, Activity (Details) - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2022
Stockholders Equity Note [Abstract]
Options, Outstanding at December 31, 2021	2,435
Options, Granted, Shares	443
Options, Exercised, Shares	(417)
Options, Forfeited or expired, Shares	(23)
Options, Outstanding at September 30, 2022	2,438
Options, Exercisable at September 30, 2022	1,778
Minimum Exercise Price	$ 5.34
Maximum Exercise Price	$ 154.96

Stockholders' Equity - Schedu_5

Stockholders' Equity - Schedule of Share-based Compensation, Restricted Stock, RSUs and PSUs Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2022 shares
Restricted Stock
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 31, 2021	3
Granted	6
Vested	(5)
Unvested at September 30, 2022	4
RSUs
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 31, 2021	131
Granted	116
Vested	(57)
Unvested at September 30, 2022	190
PSUs
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 31, 2021	10
Granted	113
Vested	(5)
Unvested at September 30, 2022	118

Basic and Diluted Net Income _3

Basic and Diluted Net Income 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		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Numerator:
Net income	$ 10,262	$ 6,020	$ 32,902	$ 19,579
Weighted average common shares:
Common shares outstanding	48,106	47,486	47,919	47,067
Less: Unvested restricted stock	(4)	(3)	(4)	(3)
Denominator for basic calculation	48,102	47,483	47,915	47,064
Weighted average effects of potentially diluted common stock:
Diluted	49,549	49,592	49,371	49,448
Net income per share:
Basic	$ 0.21	$ 0.13	$ 0.69	$ 0.42
Diluted	$ 0.21	$ 0.12	$ 0.67	$ 0.40
Employee Stock Options
Weighted average effects of potentially diluted common stock:
Diluted	1,336	2,013	1,378	2,277
Unvested Restricted Stock
Weighted average effects of potentially diluted common stock:
Diluted	2		2	6
RSUs
Weighted average effects of potentially diluted common stock:
Diluted	64	86	55	90
Performance Stock Units
Weighted average effects of potentially diluted common stock:
Diluted	45	10	21	11

Basic and Diluted Net Income _4

Basic and Diluted Net Income Per Share - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount	866	39	885	204
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	864	33	865	201
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	2	6	20	3

Disaggregation of Sales, Geog_3

Disaggregation of Sales, Geographic Sales and Product Sales - Disaggregation of Sales (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Oct. 01, 2021	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Total net sales	$ 76,046	$ 76,046	$ 58,352	$ 58,352	$ 220,347	$ 171,471
Non Consignment Sales [Member]
Total net sales		71,223		53,819	205,236	156,604
Consignment Sales [Member]
Total net sales		$ 4,823		$ 4,533	$ 15,111	$ 14,867

Disaggregation of Sales, Geog_4

Disaggregation of Sales, Geographic Sales and Product Sales - Additional Information (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2022 Country	Dec. 31, 2021	Oct. 01, 2021	Sep. 30, 2022 Country Segment	Oct. 01, 2021
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] | Customer One [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage	56%		49%	53%	47%
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] | Customer One [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage		47%		57%

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				9 Months Ended
		Sep. 30, 2022	Sep. 30, 2022	Oct. 01, 2021	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Geographic And Sales [Line Items]
Total net sales		$ 76,046	$ 76,046	$ 58,352	$ 58,352	$ 220,347	$ 171,471
Geographic Distribution, Domestic [Member]
Geographic And Sales [Line Items]
Total net sales			3,873		2,385	10,375	7,429
Geographic Distribution, Foreign [Member]
Geographic And Sales [Line Items]
Total net sales			72,173		55,967	209,972	164,042
Geographic Distribution, Foreign [Member] | China [Member]
Geographic And Sales [Line Items]
Total net sales			42,246		28,411	116,635	80,984
Geographic Distribution, Foreign [Member] | JAPAN
Geographic And Sales [Line Items]
Total net sales			10,546		10,488	32,481	29,374
Geographic Distribution, Foreign [Member] | Other [Member]
Geographic And Sales [Line Items]
Total net sales	[1]		$ 19,381		$ 17,068	$ 60,856	$ 53,684
[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				9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Oct. 01, 2021	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Product Information [Line Items]
Total other product sales		$ 4,093		$ 4,199	$ 11,797	$ 11,582
Total net sales	$ 76,046	76,046	$ 58,352	58,352	220,347	171,471
ICLs [Member]
Product Information [Line Items]
Revenue from contract with customer, excluding assessed tax		71,953		54,153	208,550	159,889
Cataract IOLs [Member]
Product Information [Line Items]
Total other product sales		2,191		2,525	7,640	9,324
Other surgical products [Member]
Product Information [Line Items]
Total other product sales		$ 1,902		$ 1,674	$ 4,157	$ 2,258