STAA - Earnings call transcript Q2 2020

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Operator

Good afternoon. Ladies and gentlemen, and welcome to the STAAR Surgical Second Quarter 2020 Financial Results Conference Call and Webcast. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] And please be advised that today's conference is being recorded. hand over to today, your like Mr. now the to conference speaker I'd Moore. Brian begin. Sir, you may

Brian Moore

Thank good call Christie, the on discuss you, and company's second the joining you the Xrd, STAAR us quarter for ended Surgical XXXX. results conference financial this July to afternoon, afternoon for everyone. Thank

Time quarter Mason, X:XX On Financial release press Officer. Caren Chief is results issued Officer; after President and second just was the Eastern on call at today and available Executive p.m. The of and www.staar.com. are STAAR's Patrick Chief now our Williams, website

with to these does so. statements Except by and law, required to forward-looking do as you Before call projections, we statement. call future begin, fact results about this that forward-looking of harbor materially to forward-looking to STAAR analysis actual that described are associated and those let the public statements during statements. SEC. expectations, obligation belief, remarks will on are well the not today's conference press company in in actual and that course as me statement The webcast statements. uncertainties numerous statements conference cause risks STAAR's no and made historical includes from quickly uncertainties a the to this this forward-looking prospects. statement a with intend as and update based caution of of in plans, are that These you This and could filings conference and judgment remind any is important periodic risks events of safe call forward-looking in described subject make We the the the differ date not the the is assumes outcomes reflect company's or as statement release

supplemental reconciling the GAAP information non-GAAP today's earnings currency. information and numbers, meaningful sales we that the numbers In We believe these net information share and supplement addition per our future release. in is helpful provided the constant non-GAAP assessing to adjusted A adjusted in provide to historical have press table and included and are GAAP income in performance. non-GAAP

prepared two I of limit and the with thank to to questions, analysts. would line then like will to process. any analysts for STAAR. that, themselves call to over We Mason, this publishing everyone CEO remarks, our now ask initial follow-ups. their Following re-queue President questions advance we And in cooperation and with turn the open with Caren We from

Caren Mason

today's and you, afternoon, Good on for us Thank Brian. everyone, joining call. thank you

We're Gil on board on the Frinzi, global to entire our appreciation ability prolonged strong opportunity by me midst board we STAAR accurately demonstrating pandemic. and most new sincere delighted Williams. June him achieving May would markets STAARs new this members, a Patrick like perform I Welcome Xst. the our to team to to Kliman and surgeries board Officer. for assessed take Let also shutdown The of have outlook of serve. start in results provided my joined who elective market Tom dynamics the and the to in of during a welcoming operating well as Financial to Dr. we discipline express Chief two also the in

than season Continuing Germany, China Asia in a recorded America, experiencing trending markets Korea Pacific, Europe in India with While the earnest. demand came and continues Latin XX% began April in XX% significantly recorded XX%, the were rest at Japan, with in growth, of units anticipated Japan, XX% peak and refractive a much In of Europe, and China. ICLM year-over-year positive procedures strong Korea. June America, stronger or distributor in XX% The in July, to recovery of procedures were halt and East. May down North growth and plan in Middle

public and government our reoccur refractive business EVO and in moving forward. lens ICL interruption QX interest increased hotspots based health in solutions anticipate QX. COVID-XX We and mandates may continued less While

with squarely digital they is programs, focused practices as team training recruiting our significant on Our patient marketing. generating surgeon growth by and their restart supporting partners

market social China a know, China's season correction. with education the world team that our you underway. supported The is engagement marketing of in in As the also for vision platform patient quickly partners is our is by and largest by media is implant moving campaigns. refractive pleased response the roadshows, and And peak to surgeon digital

virtual roadshow are anticipating summer visitors surgeons XXX growth campaign ICL and million increasing of strong the one reaching has hours double EVO the digit lofty their during XXX fact, Refractive in In from QX. goal cities months.

we believe of We in achieve on XX% California end. XXth. our China that resumed at production by refractive We continue market year facilities a the share to manufacturing will procedure April

a voluntary six COVID-XX Following related week pause.

Toric a and EVO XXXX of restarts to and able lenses remainder the be that had the have very We exceeded and meet Spheric our through beyond. successful our level expectations will that we of demand both anticipate for increased

respect We are of Switzerland EVO mandated our for trial with plans for family surgery Nidau ready we continuing manufacturing lenses. optic after presbyopia Viva to patient work mid-May, restart screening QX. delay lenses. in in in resumed to and periods manufacturing our our closures and once in our also due our various elective All myopia forward clinical clinical to XX trial are sites our of to implants Forest Lake EVO of our moving With XXXX, facility U.S. again system recruiting, our California

month their U.S. We and believe will and approval patients. surgeons subsequent the look our in in game material to changing the and to bring the we prepare for patient current is market consider FDA. we we effective in U.S. data by no very for marketing second vision of the But environment, end second to world to EVO trial much and of enrollment The lens the in that commercialization XXXX. half operating in submission the potential Assuming forward we largest the anticipate EVO collection, in the U.S. our time track are on the September. change follow-up then of complete six we

to that correct lens distance Turning is or extended CE of mark intermediate extremely to and to pleased depth our now we EDOF vision. approval designed presbyopia, presbyopia are have focus for near,

XX as who new and globally physician of We certification. in first occur in are treatment a mark branding anticipate early future by of implants XXs will innovative rollout billion that replacement people Viva millions to the Spain, ages of Germany. CE wants presbyopia potential presbyopia, for or the the through consideration contact recognizing We with EDOF in a eyes beginning lens to get will option for EVO XX reading phased EVO and XX Viva. X.X countries of frequent Belgium lenses. Viva our training EVO target initially the September, following glasses is opportunity rid their

high our patient Again! vision levels rewind of satisfaction investigators Our EVO and our See review media, clinical EVO trials freedom. been principal will publication and and supported be social peer Commercialization clinical with to visual your Viva and messaging. true search Young already aim facing achieve supporting by monitor. Viva have for papers of and is by Also consumer submitted medical

to with Globally, desire appears to any more us be to and quarters, brief summer ahead We're express impact outside one traditional vision remainder to to leading procedures pause duration that where our than do work so on holidays, the no strongest do to our COVID-XX China pause hotspots said, other sales Asian we related to they that in determined of occur, to through its refractive unless XX% our many revenue and has Looking correction scope. mandated in the generate been way. The particularly third revenue. U.S. the limited lessening, have countries quarter With expect with be of customers starting historically the to the accounted procedures XXXX. also of again, and

similar Patrick high pleasure very quarter point volume It QX my Patrick? results. the of traditional our to other be XX% at anticipates see our we results, ask QX off would digit markets. China, increase seasonality revenue a growth Our double to is revenue in sequential At now least financial tapers result will from third quarter. on then increases report we expect for in currently quarter outlook to our fourth but in seasonal year-over-year, as which this for

Patrick Williams

warm $XX.X COVID various related compared QX the XXXX Thank mentioned QX for down welcome, to XXXX. Caren. good as the And sales everyone. were and net you The consistent market sales for net million QX Total Caren with the $XX.X with XXXX million associated for year-over-year closures afternoon, was decline earlier.

is of to is margin COVID-XX primarily In The of of for in represented voluntary the XX.X and $X of in Period the for associated decrease manufacturing sequential decrease did to expenses as results, terms of was XX% XXXX. total due sales, approximately XX.X% of million sales sales quarter to for million that profit net related XXXX aforementioned six primarily is XX.X% manufacturing attributable with net mix QX a XX.X million Compared or QX XX%, gross $XX.X conclude net pause at other the sales QX week with or sales QX and manufacturing XXXX end products XXXX gross geographic projects represented and the XX.X% consistent costs. company of product to the geographic expansion ICL the of cost April. profit or to prior results. mix. sales for for period mix which XXXX. sales net And Gross QX compared

production expect into increase XXXX, the XX% to higher the margin Moving as would our to sales into low here half. volume scale the second backup second we for range half the support anticipated of see from gross

XXXX, total QX The decrease to $XX.X XXXX operating the related compared to QX $X.X to Taking million and and for salary its related and continued headcount QX expenses, QX at variable million compared due year-over-year for was million higher of the and cost decrease in expenses compared programs from quarter $X company expenses. expenses. XXXX QX and decrease the due prior XXXX slightly moving components overall and travel $XX.X for salary clinical expanding costs, the offset offset and QX a designed expenses XXXX. at operating look compensation statement, G&A non-essential headcount closer is income to consulting related costs by partially million to a was slightly million up Now a to down million, travel by to expands growth The excellence. $X.X tax higher for XXXX in related $XX.X while containment down were variable fuel for measures as expenses

expenses. move-up flat the quarter we and of half Sales expense XXXX was moving some year, to activities, $XX related million of by travel and due third for into to activities expenses offset $XX.X million and and and and advertising prior second as then QX the for into as QX increase lower we COVID, year to expect XXXX. from going expenses ramp-up result into The marketing due tradeshow was G&A promotional to in activities XXXX for expense slightly decrease Moving QX. salary $XX.X lower prior million QX and the compared quarter remain a an

we the into to and seasonally beginning from our quarter, many our COVID shutdown. busiest with As move of markets open-up

and and partially for QX travel related was offset our increased marketing respectively. will Research development The investments did variable clinical absolute expense. and increased for in lower QX expense million levels by ramping-up our very expect was expenses, We of in development and and the compensation $X.X to QX associated QX salary QX EVO with expenses XXXX to in million sales dollar XXXX, quarter due U.S. and and $X.X be trials expense and to XXXX we $X.X clinical compared in million XXXX. increase to what by research similar and headcount expense see in

a share pivotal As sale XXXX. sales to XXXX. first And information QX for loss operating per follow of of On per $X.XX enroll compared the QX per U.S. for at in share share in of share net to to XXXX net million share, operating today's half sales QX was a would $X.X for The million the we by quarter XXXX QX income been million reconciling of we QX per expect the XXX,XXX of our a adjusted and approximately R&D GAAP $X.XX in and percentage to percent in million quarter or of as or QX continue EVO XXXX. financial information per the million loss QX up an on has $X.X and $X.XX net loss million of XXXX was compared $X.X or $X.X release. $X.XX operating running A income for included of for similar second in adjusted $X.XX XXXX. $X.X trial. basis $X.X clinical loss was a table compared non-GAAP or $X.X And is income per QX XXXX $X.X XXXX share or million XXXX. for to profit XX% non-GAAP Net million or $X.XX

to XXXX attributable and up the This sheet, as of at is exercise total $X.X X, the proceeds sequential Turning of now million, the to to a million equivalents increase million cash first XXXX. end compared July $XXX.X of and balance stock cash options. quarter our from $XXX.X primarily

several Before and the up call I for you meeting we in highlight questions, forward meetings I coming you. weeks, many with virtual the with where look participating in to Caren investors. re-engaging investor events and open these would and like conferences new of forward look to I to

field Stanley Operator, to up, trip. on ready on the remarks. the currently STAAR August and are we take the Morgan August in BTIG healthcare Blair will of William now scheduled be XX. This with to conducting First questions. month participate investor week West meetings In prepared our XXth, Wells conference we virtual management first virtual healthcare, concludes September next Fargo Coast is

Operator

Instructions] Christopher question line our [Operator first Cooley. Okay, of on comes

ChristopherCooley

afternoon, of getting quarter, essentially kind into step-up? I we there to in think in little you can and I've units. for growth that XX% in increase color I gives got digit remarks, and from terms second look us prepared to the the percent taking some came obviously, close expected sequential, the welcome I third but to just additional in a much you and you good detail to, can particular to maybe if follow-up. double maybe XX% When more gives July, just growth a And STAAR, sorry, sales, thank at XX Patrick, to Good my mentioned what one believe it, China about about just step-up quarter bit guess as you call we're provide you that stronger get growth that, you. put hoping you in again. and plus what in growth, work it's the you I'm with, around you and Thank confidence versus showing with -- then of XQ rate, confidence so

CarenMason

on very Sure, sequential either early to of built multiple greatly markets The I the shutdown have and and say, June. Thanks, confidence or effectively, Chris. really would COVID is since in that not suffer terms growth under mid did recovered

rest continued season challenges at come And There Latin resurgence in into good East our a we China, several expect very Asia about Pacific. So the as in July. on the in we've has Korea, days Japan, sometime. on them of Europe, looking course feeling lot recovery mode July going most records. of near-term, But to America. we're of results, been China very what's in and in and peak the excited we're Middle real of in about are in the with And implantation

good. for will that, result growth we very which XX% feel that looking growth digit prior the over double So, of sequential we record which year, was breaking as of company, a is the

ChristopherCooley

lenses your Germany Viva the CE prepared now, marketable launching obviously about a thank Okay, Spain, that. and you for follow-up, for be higher Nidau of just Monrovia. right maybe ICL, structure talk course about the you have back there those directionally to Lake up coming in used 'XX margin and will remember margins early Forest manufactured first, With you all Can remarks. to Belgium but to to in in just for countries bit in facility except talk as And that little I EVO Mark. my in traditional Evo as

on again. goes normal gross and, up us kind course, think help the intakes production start the Viva about and then as of of to you levels? on ready back puts the there line for to ramp get Monrovia Thanks So, margin Nidau

CarenMason

regard EVO Viva of out Sure. for Monrovia. will With you production our initial be Chris. to Thank calling-in.

our we margins expect blend lenses, with would well line. current gross be so our EVO will and Our cost to per in units

out ahead work to give XXXX. we a the In same Forest but strong even terms partners, staggered nice time believe Lake experience opportunity of and of will manage is opening our the strategy us the expectations excellent provide of patients very patients we not rollout, the the effectively put profitability us for expertly, only a margins, rollout in designed to that gross also at surgeon also to very with pricing to create profile, to with

Operator

Anthony question from next Our Petrone comes Jefferies LLC. from

AnthonyPetrone

that. I Thank year, on high moderate it in gains the Or maybe a is amount maybe quarter afternoon. question of that Caren, still market. share the was ended for into sharing And taking maybe mentioned terms patient of from you're set seeing the you specifically trends mute. the you good my gains on mostly apologize myopes? for also a you seeing, I in level questions. just where a on you where then China, myopes? are and And more fair

CarenMason

grasp to XX% to gains from going going really get to about be weeks. share market now, procedure -- don't know myopes the upon, order are on high we have a say good that have a several refractive for we is In somewhere shadow moderate was we diet you only there reduction and depending the of really total fact to I'm because myopes. is what down in right XX% the

have we good know we idea, in pretty somewhere but the we're XX% a So range.

So know by year get can trailing there. end, we're to we the XX-months, we probably XX%

AnthonyPetrone

launch. just more you see similar that post-Aier more ramps, be you fragmented? consider Should helpful. and at U.S. And a just it's up follow bit the queue, that look back rollout of as Right. mentioned we China I'll progression, we How be thinking first half to second is progressing do years? get Thanks. or within ramp as a the 'XX that That's potential my would three moderate

CarenMason

Right.

Aier than rather the So in you've clinical market, Aier and private very both or that have the large we difference hospitals like out in U.S. in China. chains, like practices the and public practices smaller pointed mostly

last refractive report called doing program we been In actually which weeks, a a implemented we've restart, quarter. these work. lot on next However, several of I'll

program their practices, their at strategic surgeons finished would patients with to to or we no the this patients The with that an surgeon to to sold months. that cost, important become a the them As States get at provide so lens the over program who opportunity could discount. of an then couple freedom opportunity partners is were. next visual offered in This many benefit United already

this to And promotion we're we researchers Some add results. also away their were through at now. business you lenses, improve lenses up we're When till XX% up. sold two able given

have we So when quick we believe of a United such of add up at peripheral When a EVO, we many and believe a United going iridotomy that more patients. without this provider many aggressively initiator, have the big feature that the required aggressively I in excellence, a levels. major promote the implant maybe then extraordinary especially that lenses Aier and these key will like believe the are States we not in KOLs as in ramp to very States you happily

Operator

next Ryan question comes Our from Zimmerman.

RyanZimmerman

you couple Thank you. Hi. hear Can for me. A Patrick, me? Caren. Thank welcome. questions you, Okay.

the some Just the I'm commentary. of to to follow up on comments. reconcile just China Caren, trying

late of in bit so seems in growth. early understand and recover, just And in quarter, to revenue out of you on maths, just the But down was just for helped its I was little your ASPs you inflection -- is can recovery quarter, the when the script, that doing kind then, the like. of a units. it the into down me the continuing backing occurred, X% that the about part China your think filings, I called think based on it terms

move then of as more that And and just the with into so will expectations myopes rest you. the on balance moderate year may Thank low And follow of I ASP comment you trends lens? curious I'm you over compete for could if the up. the

CarenMason

lines of X% had the laser in first rooms, literally, so more we one contact and glasses China, We China. outside for in QX vision lenses, rid the But for lower much in around with go time so there's to in competing hospitals the minus in we diopters units and had definitely up way correction procedures. interest actually the make actually Okay, building. getting meeting the were and

QX. another though, year China. a more comparison, remember prepare last in there's you interest. And in result, tremendous in may we big last spike we year, to demand had for to in sell QX as And did So that inventories

up in which to So half very well even we the very QX, China picked prior have large. of though competitor QX still year very, a where back

good record And that July a terms through so quarter. in And of going result forward as in the in is news what this QX, we is made year a of in the see continue August. that will

do X% to aggressively actual but line, confidence for so China than of our moving our price being points. even impact lower to ASP mix see product ASPs, We strong. in less we entire And predictor important quite an diopter spherical of is though we're down see

RyanZimmerman

as I or rapid with question the very Enrollment that's seems U.S. And back I Okay, guess XXXX? helpful. taking end everything confidence again months that And September, the by you six a there then up approved product to in said in for Why Thank wrapping turnaround the you what's XXXX a of together. getting get available want but you the can in not it that so hit commercially very questions. like then ask the the terms on your trial only agency. that of

CarenMason

welcome. You're

approved, to primary endpoints got clearly had we FDA. need the we we that understand we the exceptional what achieve. meetings are with the So When IDE

we We we a points our these surgeons. on for we clean study, to quick. and have relative And we are in be is what, need left outcome in a for do safety efficacy discussion safely, be if basis that's if believe would study that what priority a not

of, you if the proven. In basis. be that and to has for a bring a On example, terms have lot market, U.S. to implants, have, an have you relative effectiveness have XXX into maybe record were, of which you product would you a trying speak don't to normally

that endpoints. rather have grateful One the we meeting is because, a to timeframe we're immediately safety these of shortened the reasons FDA we're that

XXX and we really that So then standard day we've up that thereafter. good gives us meeting follow discussion approval a hopefully, with confidence should two had a and have meeting, excellent all the

Operator

of from comes Brian Weinstein. line question next the Our

AndrewBrackmann

Maybe all of new Hi, Patrick. you're if may of Brian. activity those on growing with at given Brian. impacted the This partnerships, Have I you for environment. of seen have is Hi, how those here? Andrew if funnel sort as been acceleration current a any question of and sort conversations Caren. share your by start the partners, could on Hi, signing of COVID

CarenMason

Which really I and made is asked been adjustments here we heartening, partnerships great there to on on on I about have growth, where situations thereof. a a there think built the everything been modify been But to we've not have built schedule, just doing testament that few track and mean, agreements. that is along the renegotiations are way. on we're not lack

them with new support our would And world, so we around of we more constant as more and markets, partnerships COVID-XX, goes work mentioned, the themselves volume or we certain build from line It's a we around also for funnel ways. to up in fearful to and we on we reticence be clear in U.S. have program with like commitments. about business that dialogue of based world workers and hedge, have first in and markets where really surgeons open that course, seen And effectively. overall, the Spain the not other the partners, in I partners the have

that strong those partnerships with so emphasis. of And kind on continue

AndrewBrackmann

nice I that your the obviously, a down really last talk sort you But you mean, where have color. or maybe the of together could team several that Deborah, there for guess That's and growth in that of Caren, on chair. the early guess, areas is Patrick, really from more But, years. about perspective, I you fresh strategy recognizing over you're areas can one great. might still some whole that put for then Thanks the I accelerate identified of investment pretty press you maybe fully strategy? And on

PatrickWilliams

Yes.

product it's in there would best me a a early procedure what's our really and market out neck the my at that little opportunity. exciting believe this to I me say far and point. But has is I think to size too real for of class overall this good put that probably I

areas certainly EVO to product I Europe, So with as move then EVO I and this but here. USA, trial as we very we guys I'm on the time, help is do with would super has think excited that Street with talking been a about those anything which both for are can forward, that we be the certainly clinical could, company focus to Wall Viva kind in company, on consistent you to where think of commercialize the with some you

Operator

question next of Jackson. Our the from Bruce comes line

BruceJackson

Hi, good afternoon.

So, the at looking I'm in rollout EVO Europe. Viva

focusing gates perspective do practices So things are little a you terms open how some a we're next the might spoke you market? the couple you doing entire the And point about if to throw bit rollout? satisfaction you what and of could what with Maybe us controlled patient give patient like having can of that the trajectory in specifically on more the on of the in of over that think quarters. look training, selection, things that? terms at And

CarenMason

patient So, at questionnaires, the the criteria, post this time, pre finalizing of and implantation. we're in the all point marketing materials, both

Viva we've the with trials the had believe then adding old initial their results year the in those the We And experience, lab. be that we learned trials what two EVO XX-days. building will very XX surgeons next XX our with on of visual of both for taking the are we we've clinical of patients to seeking and success build will freedom strong a playbook what

I would the of quarter first end of say XXXX. So

next opening mid be most year, by So this market likely completely would that year. we

months. patients his to a over do next and the the best It's prudent effectively. goal. adaptation on much with No us time. plays lens How opportunities our this than bigger several that's the neuro to So very very surgeons extraordinary one this the scale lens over better the can tell

doors. right excited we're the go the open we to ready and going and are this we're So very way to do very but then

BruceJackson

great. in then And could then a get longer Okay, you you potentially where that's term, situation add-in. would

For example, top standard marketing campaigns? of on advertising your direct consumer

CarenMason

hard are will world, asked will around we're to do to doing because markets outdoor with have actually around cetera. we to been in video to preparing or exciting venues what world multiple around a We everyone markets consumer it's streaming we're transportation testimonials that advertising et everything in celebrities, that so sporting that we from months venues, the releasing world, are direct in coming many in from very extraordinary whether the they venues, the on doing consumer the checks be really doing large actually channel some often what show regards This we're is campaigns markets, marketing. be

that of of lot time. a I it right United we course, then to can't States. to bring be frankly, in EVO And here wait. center think that quite and over doing we're So the when now. the And able And see expanding U.S., we front be you'll we'll

Operator

Our the of from Furlong. last comes question Cecilia line

CeciliaFurlong

Caren, to the situations like our about taking on your to for that? of outreach of been for marketing in kind your but on to consumer just patients, target the I potential QX given QX, as year-over-year just changes, COVID backlog wanted just being China perspective able to perhaps more and that's just campaign have your months past over ask, Thanks more or patients hear any able impact questions. directly, COVID and few just impact we're patients busy different also, but season of thinking guess your China, due thoughts I just through on then and I in direct, either

CarenMason

Sure.

small the we're everything hospitals, doing with we're signed, in China to Aier partnerships, private largest partnership. that agreements and the enviable well, clinics in position as both and our strategic that that in from public our is we've So, work very together this very

desire in increase partners is that, mirrored majority number that million number is of the with the marketing outreach very a of facilities by extraordinary they And so social The one our EVO. more because procedures what But in a doing seeing coordination, always as and have interesting and high is is of themselves. social XXX produced out, the That consumer is really but done cities, refractive ICL doctors. departments work, in number doing in than a of to XXX that participants and what result they're a clinics. that themselves, we're of being of

about outreach XXX who our EVO. in at doctors, enthusiasm library videos here the of of over have We done video have STAAR

to large playing doctors one a their We famous about retail mall appeal hospital, patients. remotely has have also EVO other locations. to very multiple clinic very all Shanghai don't partner, did have a and embarrass, to and And who video now where I standing we enthusiasm the to in instruments music want our in their dancing

a lot that millions social so And events there's media of talking kiosk consumer about each but related, of every week. outreach, we're and touches related, that's special

the a lines of rooms, they're the pandemic, a freedom right door. gotten just expansive. regard more no result of getting full there outside challenges There's of cetera. light of in enthusiasm visual there China. to very time interest there a COVID-XX began, is controlled, is literally, quite with our contact and that masks, amount at the is it's no lenses, now outbreaks What et areas, waiting tremendous if busy for interest doubt sunglasses, in and well as has we're in been So, in there since and business point any With are this certain quickly seeing China's disruption season to

in seeing, numbers of I some very China, busy the So, at beginning season. excellent think we're

CeciliaFurlong

ask, in and business really I to the potential to can interest and forward, your accelerate if as you just just guess the could to, look the going could off it EVOs following initial Caren. think And you I Europe, you generated overall? adoption have EVO impact in speak of approval approval, you, on Thank the broad

CarenMason

old opportunity, to. the yes, prior XX think olds than year the XX to lenses way rid an to typical might opportunity of natural lens would choose of give to crystal have glasses, XX Well, our setting to exchange. I EVO the their in gives year reading from family and get It our want definitely and expand our to to Viva they come also up having gives all surgeons to really someone earlier necessary refractive should they EVO surgeons a if the through lens XX

So lot having suggestion of about not our there's enthusiasm by make that a initial to surgeons.

be interested surgeons. really full in the individuals, visual an and the of having who more the in see And to that we uptick experience freedom. of we going So regardless in are to quality the early are types also months, with desires then the and able being needs it's believe about of age, very different being for all and that individual's track number and lenses package It's of to really placed. lifestyles easily of able multiple situations that

second next we be probably much terms in of of market, will specific we'll let's but very So the quarter recommendation. in year, the be it say similar, way more

look you're overall, think I volume, patient that a about the lot like. So, more going with confidence more what to a aimed see lot outcome more specificity much would at

situations for would potentially eye, And in going in other lens for up may see also an one dominant we end in distance, patients where myopia EVO all-in-all, eye have their we be So, having and lens may the a volume that eye reading. up.

there's that also certain potentially also in So combo could patients. occur that

a lens of bigger overall, end the the of business family the I become the at think refractive surgery. much So day, for model has part EVO

Operator

There are no further questions. more

Caren Mason

for of investment look the So appreciate your days you with weeks best Surgical. We forward of in participation Please interest STAAR thank many call Thank you and All care. on all to ahead. you. to in good today. and speaking We our you. take the your

Operator

Ladies and for conference you today's now And may participating. call. disconnect. Thank gentlemen, this concludes you

Brian Moore	VP, Investor, Media Relations & Corporate Development
Caren Mason	President and Chief Executive Officer
Patrick Williams	Chief Financial Officer
Christopher Cooley	Stephens Inc.
Anthony Petrone	Jefferies LLC
Ryan Zimmerman	BTIG
Andrew Brackmann	William Blair & Company
Bruce Jackson	The Benchmark Company
Cecilia Furlong	Canaccord Genuity

STAAR Surgical (STAA) 5 Aug 202020 Q2 Earnings call transcript