STAAR Surgical (STAA) 10-Q30 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 27, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 27, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Registrant Name	STAAR Surgical Co
Entity Central Index Key	0000718937
Current Fiscal Year End Date	--12-27
Entity Filer Category	Large Accelerated Filer
Trading Symbol	STAA
Entity Common Stock, Shares Outstanding		49,275,875
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	0-11634
Title of 12(b) Security	Common
Security Exchange Name	NASDAQ
Entity Tax Identification Number	95-3797439
Entity Address, Address Line One	25510 Commercentre Drive
Entity Address, City or Town	Lake Forest
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92630
City Area Code	626
Local Phone Number	303-7902
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Current assets:
Cash and cash equivalents	$ 164,003	$ 183,038
Investments available for sale	71,955	37,688
Accounts receivable trade, net of allowance for credit losses of $178 and $191, respectively	104,510	94,704
Inventories, net	40,361	35,130
Prepayments, deposits and other current assets	16,277	14,709
Total current assets	397,106	365,269
Investments available for sale		11,703
Property, plant and equipment, net	81,580	66,835
Finance lease right-of-use assets, net	73	183
Operating lease right-of-use assets, net	37,897	34,387
Goodwill	1,786	1,786
Deferred income taxes	5,324	5,190
Other assets	13,824	3,339
Total assets	537,590	488,692
Current liabilities:
Accounts payable	14,694	13,557
Obligations under finance leases	84	165
Obligations under operating leases	4,531	4,202
Allowance for sales returns	8,124	6,174
Other current liabilities	38,908	40,938
Total current liabilities	66,341	65,036
Obligations under finance leases		42
Obligations under operating leases	35,385	31,425
Deferred income taxes	1,056	1,077
Asset retirement obligations	127	103
Pension liability	6,559	5,055
Total liabilities	109,468	102,738
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 60,000 shares authorized: 49,271 and 48,839 shares issued and outstanding at September 27, 2024 and December 29, 2023, respectively	493	488
Additional paid-in capital	466,579	436,947
Accumulated other comprehensive income (loss)	(5,602)	(4,113)
Accumulated deficit	(33,348)	(47,368)
Total stockholders’ equity	428,122	385,954
Total liabilities and stockholders’ equity	$ 537,590	$ 488,692

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses, current	$ 178	$ 191
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	49,271,000	48,839,000
Common stock, shares outstanding	49,271,000	48,839,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Statement [Abstract]
Net sales	$ 88,590	$ 80,308	$ 264,951	$ 246,142
Cost of sales	20,103	16,670	57,017	54,216
Gross profit	68,487	63,638	207,934	191,926
Selling, general and administrative expenses:
General and administrative	21,685	19,266	68,554	55,461
Selling and marketing	26,623	26,607	82,150	85,238
Research and development	14,497	11,470	41,931	33,535
Total selling, general and administrative expenses	62,805	57,343	192,635	174,234
Operating income	5,682	6,295	15,299	17,692
Other income (expense), net:
Interest income, net	1,407	1,690	4,358	5,287
Gain (loss) on foreign currency transactions	5,931	(1,384)	585	(3,240)
Royalty income		74	508	74
Other income, net	139	71	532	144
Total other income, net	7,477	451	5,983	2,265
Income before income taxes	13,159	6,746	21,282	19,957
Provision for income taxes	3,179	1,929	7,262	6,366
Net income	$ 9,980	$ 4,817	$ 14,020	$ 13,591
Net income per share:
Basic	$ 0.2	$ 0.1	$ 0.29	$ 0.28
Diluted	$ 0.2	$ 0.1	$ 0.28	$ 0.27
Weighted average shares outstanding:
Basic	49,199	48,613	49,078	48,426
Diluted	49,731	49,370	49,614	49,494

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 9,980	$ 4,817	$ 14,020	$ 13,591
Defined benefit plans:
Net change in plan assets	(1,708)	(115)	(1,573)	(1,839)
Reclassification into other income (expense), net	(17)	(51)	(51)	(154)
Investments available for sale:
Change in unrealized gain (loss)	134	149	101	123
Reclassification into other income (expense), net			2	(2)
Foreign currency translation gain (loss)	1,856	(494)	(182)	(1,965)
Tax effect	(404)	146	214	795
Other comprehensive loss, net of tax	(139)	(365)	(1,489)	(3,042)
Comprehensive income	$ 9,841	$ 4,452	$ 12,531	$ 10,549

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Dec. 30, 2022	$ 336,112	$ 482	$ 404,189	$ 156	$ (68,715)
Balance (in shares) at Dec. 30, 2022		48,212
Net income	13,591				13,591
Other comprehensive loss	(3,042)			(3,042)
Common stock issued upon exercise of options	9,264	$ 5	9,259
Common stock issued upon exercise of options (in shares)		500
Stock-based compensation	24,765		24,765
Repurchase of employee common stock for taxes withheld	$ (2,096)		(2,096)
Repurchase of employee common stock for taxes withheld (in shares)		(35)
Unvested restricted stock (in shares)	(12)	10
Vested restricted and performance stock units	$ 1	$ 1
Vested restricted and performance stock units (in shares)		130
Balance at Sep. 29, 2023	378,595	$ 488	436,117	(2,886)	(55,124)
Balance (in shares) at Sep. 29, 2023		48,817
Balance at Jun. 30, 2023	357,617	$ 485	419,594	(2,521)	(59,941)
Balance (in shares) at Jun. 30, 2023		48,499
Net income	4,817				4,817
Other comprehensive loss	(365)			(365)
Common stock issued upon exercise of options	7,258	$ 3	7,255
Common stock issued upon exercise of options (in shares)		305
Stock-based compensation	9,380		9,380
Repurchase of employee common stock for taxes withheld	$ (112)		(112)
Repurchase of employee common stock for taxes withheld (in shares)		(1)
Unvested restricted stock (in shares)	(12)
Vested restricted and performance stock units (in shares)		14
Balance at Sep. 29, 2023	$ 378,595	$ 488	436,117	(2,886)	(55,124)
Balance (in shares) at Sep. 29, 2023		48,817
Balance at Dec. 29, 2023	385,954	$ 488	436,947	(4,113)	(47,368)
Balance (in shares) at Dec. 29, 2023		48,839
Net income	14,020				14,020
Other comprehensive loss	(1,489)			(1,489)
Common stock issued upon exercise of options	$ 7,352	$ 3	7,349
Common stock issued upon exercise of options (in shares)	310	310
Stock-based compensation	$ 23,679		23,679
Repurchase of employee common stock for taxes withheld	(1,396)		(1,396)
Repurchase of employee common stock for taxes withheld (in shares)		(40)
Unvested restricted stock (in shares)		16
Forfeited restricted stock (in shares)		(5)
Vested restricted and performance stock units	2	$ 2
Vested restricted and performance stock units (in shares)		151
Balance at Sep. 27, 2024	428,122	$ 493	466,579	(5,602)	(33,348)
Balance (in shares) at Sep. 27, 2024		49,271
Balance at Jun. 28, 2024	409,103	$ 492	457,402	(5,463)	(43,328)
Balance (in shares) at Jun. 28, 2024		49,161
Net income	9,980				9,980
Other comprehensive loss	(139)			(139)
Common stock issued upon exercise of options	1,657	$ 1	1,656
Common stock issued upon exercise of options (in shares)		105
Stock-based compensation	7,521		7,521
Vested restricted and performance stock units (in shares)		5
Balance at Sep. 27, 2024	$ 428,122	$ 493	$ 466,579	$ (5,602)	$ (33,348)
Balance (in shares) at Sep. 27, 2024		49,271

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Cash flows from operating activities:
Net income	$ 14,020	$ 13,591
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation of property, plant, and equipment	4,516	3,743
Amortization of intangibles		169
Accretion/Amortization of investments available for sale	(410)	(2,172)
Deferred income taxes	47	65
Change in net pension liability	(162)	(766)
Loss on disposal of property and equipment	1,668	41
Stock-based compensation expense	22,541	23,334
Change in asset retirement obligation	24	(104)
Provision for sales returns and bad debts	1,947	1,925
Inventory provision	1,873	4,090
Changes in working capital:
Accounts receivable	(9,703)	(50,436)
Inventories	(5,962)	(9,975)
Prepayments, deposits, and other assets	(12,237)	(3,584)
Accounts payable	(2,031)	(3,266)
Other current liabilities	(1,048)	5,970
Net cash provided by (used in) operating activities	15,083	(17,375)
Cash flows from investing activities:
Acquisition of property and equipment	(17,669)	(15,100)
Purchase of investments available for sale	(61,194)	(52,314)
Proceeds from sale or maturity of investments available for sale	39,141	119,359
Net cash provided by (used in) investing activities	(39,722)	51,945
Cash flows from financing activities:
Repayment of finance lease obligations	(124)	(121)
Repurchase of employee common stock for taxes withheld	(1,396)	(2,096)
Proceeds from the exercise of stock options	7,352	9,264
Proceeds from vested restricted and performance stock units	2	1
Net cash provided by financing activities	5,834	7,048
Effect of exchange rate changes on cash and cash equivalents	(230)	(666)
Increase (decrease) in cash and cash equivalents	(19,035)	40,952
Cash and cash equivalents, at beginning of the year	183,038	86,480
Cash and cash equivalents, at end of the period	$ 164,003	$ 127,432

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 9,980	$ 4,817	$ 14,020	$ 13,591

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
Basis of Presentation and Significant Accounting Policies	Sep. 27, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Note 1 — Basis of Presentation and Significant Accounting Policies STAAR Surgical Company, a Delaware corporation, was first incorporated in 1982, and together with its subsidiaries designs, develops, manufactures, and sells implantable lenses for the eye and accessory delivery systems used to deliver the lenses into the eye. The accompanying Condensed Consolidated Financial Statements present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries (the “Company”). All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in the Comprehensive Financial Statements have been condensed or omitted pursuant to such rules and regulations. The Consolidated Balance Sheet as of December 29, 2023 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 29, 2023. The Condensed Consolidated Financial Statements for the three and nine months ended September 27, 2024 and September 29, 2023, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial condition and results of operations. The results of operations for the three and nine months ended September 27, 2024 and September 29, 2023, are not necessarily indicative of the results to be expected for any other interim period or for the entire year. Each of the Company’s fiscal reporting periods ends on the Friday nearest to the quarter ending date and generally consists of 13 weeks. Unless the context indicates otherwise “we,” “us,” the “Company,” and “STAAR” refer to STAAR Surgical Company and its consolidated subsidiaries. Cloud-Based Software As of September 27, 2024 and December 29, 2023, the Company recognized $ 12,179,000 and $ 2,406,000 , respectively, of net capitalized cloud-based software implementation costs related to several systems, including enterprise resource planning and customer relationship management systems, recorded within Other assets on the Condensed Consolidated Balance Sheets. As of September 27, 2024 , these assets are not currently placed into service. These assets are expected to be placed into service throughout 2025. No amortization of capitalized cloud-based software implementation costs were recognized during the three and nine months ended September 27, 2024 and September 29, 2023 . Recent Accounting Pronouncements Adopted and Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, “Segment Reporting (Topic 280).” ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments (a) disclose significant segment expenses regularly provided to the chief operating decision maker (“CODM”), (b) disclose an amount for other segment items by reportable segment and description of its composition, (c) extend certain annual disclosures to interim periods, (d) clarify single reportable segment entities must apply Topic 280 in its entirety, (e) permit more than one measure of segment profit or loss to be reported under certain conditions and (f) require disclosure of the title and position of the CODM. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted the annual disclosure requirements of ASU 2023-07 as of beginning of fiscal year 2024 and will adopt the interim disclosure requirements beginning fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements. Note 1 — Basis of Presentation and Significant Accounting Policies (Continued) Recent Accounting Pronouncements Adopted and Not Yet Adopted (Continued) In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740).” ASU 2023-09 improves the transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. It also includes certain other amendments to improve the effectiveness of income tax disclosures regarding (a) income or loss from continuing operations disaggregated between domestic and foreign and (b) income tax expense or benefit from continuing operations disaggregated by federal, state and foreign. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company will adopt ASU 2023-09 at the beginning of fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements.

Investments Available for Sale

Investments Available for Sale	9 Months Ended
Investments Available for Sale	Sep. 27, 2024
Investments, Debt and Equity Securities [Abstract]
Investments Available for Sale	Note 2 — Investments Available for Sale Investments available for sale (“AFS”) and the related fair value measurement consisted of the following (dollars in thousands): September 27, 2024 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 10,582 $ 10 $ ( 1 ) $ 10,591 $ — $ 10,591 Certificates of deposit 253 1 — 254 — 254 U.S. Treasury securities 10,089 4 ( 6 ) 10,087 10,087 — U.S. agency securities 405 — — 405 — 405 Corporate debt securities 50,566 57 ( 5 ) 50,618 — 50,618 Total investments AFS $ 71,895 $ 72 $ ( 12 ) $ 71,955 $ 10,087 $ 61,868 December 29, 2023 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 7,720 $ 9 $ — $ 7,729 $ — $ 7,729 Certificates of deposit 3,716 4 — 3,720 — 3,720 U.S. Treasury securities 23,036 3 ( 56 ) 22,983 22,983 — U.S. agency securities 3,423 — ( 4 ) 3,419 — 3,419 Corporate debt securities 11,538 12 ( 10 ) 11,540 — 11,540 Total investments AFS $ 49,433 $ 28 $ ( 70 ) $ 49,391 $ 22,983 $ 26,408 The Company determines the fair value of investments AFS with the assistance of 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 in a gross unrealized loss position to determine whether the decline in fair value below amortized cost was a result of credit losses or other factors, whether the Company expects to recover the amortized cost of the debt security, the Company’s intent to sell and whether it is more-likely-than-not that the Company will not be required to sell the debt security before the recovery of the amortized cost basis. The Company records changes to the allowance for expected credit losses in other income (expense), net. There has been no allowance for expected credit losses recorded for the three and nine months ended September 27, 2024 and the three and nine months ended September 29, 2023. Note 2 — Investments Available for Sale (Continued) The following table shows the fair value of investments AFS by contractual maturity (dollars in thousands): As of September 27, 2024 Within one year After one year through five years Total Commercial paper $ 10,591 $ — $ 10,591 Certificates of deposit 254 — 254 U.S. Treasury securities 10,087 — 10,087 U.S. agency securities 405 — 405 Corporate debt securities 50,618 — 50,618 Total investments AFS $ 71,955 $ — $ 71,955 During the nine months ended September 27, 2024 , two of the Company’s investments AFS of $ 850,000 , were subject to early redemption. The Company recognized a gain upon redemption of $ 2,000 during the nine months ended September 27, 2024. During the nine months ended September 29, 2023 , one of the Company’s investments AFS was the subject of a downgraded credit rating. The Company sold its investments of $ 600,000 following the downgrade. The Company recognized a realized gain upon sale of $ 2,000 during the nine months ended September 29, 2023 .

Inventories

Inventories	9 Months Ended
Inventories	Sep. 27, 2024
Inventory Disclosure [Abstract]
Inventories	Note 3 — Inventories Inventories, net are stated at the lower of cost and net realizable value, determined on a first-in, first-out basis and consisted of the following (in thousands): September 27, 2024 December 29, 2023 Raw materials and purchased parts $ 9,523 $ 9,766 Work in process 8,261 5,722 Finished goods 23,901 23,150 Total inventories, gross 41,685 38,638 Less inventory reserves ( 1,324 ) ( 3,508 ) Total inventories, net $ 40,361 $ 35,130

Prepayments, Deposits, and Othe

Prepayments, Deposits, and Other Current Assets	9 Months Ended
Prepayments, Deposits, and Other Current Assets	Sep. 27, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments, Deposits, and Other Current Assets	Note 4 — Prepayments, Deposits, and Other Current Assets Prepayments, deposits, and other current assets consisted of the following (in thousands): September 27, 2024 December 29, 2023 Prepayments and deposits $ 7,510 $ 5,924 Prepaid rent 2,888 292 Prepaid insurance 484 2,314 Prepaid marketing costs 736 2,141 Consumption tax receivable 5 820 Value added tax (VAT) receivable 3,476 2,456 Other (1) 1,178 762 Total prepayments, deposits and other current assets $ 16,277 $ 14,709 (1) No individual category in “Other” exceeds 5 % of the total prepayments, deposits and other current assets.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
Property, Plant and Equipment	Sep. 27, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 5 — Property, Plant and Equipment Property, plant and equipment, net consisted of the following (in thousands): September 27, 2024 December 29, 2023 Machinery and equipment $ 39,863 $ 30,874 Computer equipment and software 12,868 8,495 Furniture and fixtures 6,837 4,122 Leasehold improvements 16,220 10,780 Construction in process 37,843 40,364 Total property, plant and equipment, gross 113,631 94,635 Less accumulated depreciation ( 32,051 ) ( 27,800 ) Total property, plant and equipment, net $ 81,580 $ 66,835 Construction in process primarily consists of the build out and validation of machinery and equipment.

Other Current Liabilities

Other Current Liabilities	9 Months Ended
Other Current Liabilities	Sep. 27, 2024
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Note 6 – Other Current Liabilities Other current liabilities consisted of the following (in thousands): September 27, 2024 December 29, 2023 Accrued salaries and wages $ 14,065 $ 12,519 Accrued bonuses 4,050 3,456 Accrued insurance — 2,315 Income taxes payable 7,349 10,848 Marketing obligations 3,048 1,874 Other (1) 10,396 9,926 Total other current liabilities $ 38,908 $ 40,938 (1) No individual category in “Other” exceeds 5 % of the other current liabilities.

Leases

Leases	9 Months Ended
Leases	Sep. 27, 2024
Leases [Abstract]
Leases	Note 7 – Leases Finance Leases The Company entered into finance leases primarily related to purchases of equipment used for manufacturing, computer-related equipment or furniture and fixtures. These finance leases are two to five years in length and have fixed payment amounts for the term of the contract and have options to purchase the assets at the end of the lease term. Supplemental balance sheet information related to finance leases consisted of the following (dollars in thousands): September 27, 2024 December 29, 2023 Computer equipment and software $ 6 $ 6 Furniture and fixtures 475 475 Finance lease right-of-use assets, gross 481 481 Less accumulated depreciation ( 408 ) ( 298 ) Finance lease right-of-use assets, net $ 73 $ 183 Current finance lease obligations $ 84 $ 165 Long-term finance lease obligations — 42 Total finance lease liability $ 84 $ 207 Weighted-average remaining lease term (in years) 0.5 1.3 Weighted-average discount rate 4.25 % 4.24 % Note 7 – Leases (Continued) Finance Leases (Continued) Supplemental cash flow information related to finance leases consisted of the following (dollars in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Amortization of finance lease right-of-use asset $ 36 $ 37 $ 110 $ 114 Interest on finance lease liabilities 1 3 5 10 Cash paid for amounts included in the measurement of finance lease liabilities: Operating cash flows 1 3 5 10 Financing cash flows 42 39 124 121 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 27, 2024 December 29, 2023 Machinery and equipment $ 780 $ 735 Computer equipment and software 446 446 Real property 47,696 40,869 Operating lease right-of-use assets, gross 48,922 42,050 Less accumulated depreciation ( 11,025 ) ( 7,663 ) Operating lease right-of-use assets, net $ 37,897 $ 34,387 Current operating lease obligations $ 4,531 $ 4,202 Long-term operating lease obligations 35,385 31,425 Total operating lease liability $ 39,916 $ 35,627 Weighted-average remaining lease term (in years) 7.1 7.3 Weighted-average discount rate 5.77 % 5.48 % Supplemental cash flow information related to operating leases was as follows (dollars in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Operating lease cost $ 2,128 $ 1,419 $ 6,440 $ 3,883 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows 1,578 1,259 4,443 3,584 Right-of-use assets obtained in exchange for new operating lease liabilities 4,254 4,580 7,740 8,000 Note 7 – Leases (Continued) Future Maturities of Lease Liabilities Estimated future maturities of lease liabilities under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of September 27, 2024 is as follows (in thousands): . As of September 27, 2024 Operating Leases Finance Leases September 2025 $ 6,848 $ 85 September 2026 4,284 — September 2027 7,096 — September 2028 6,951 — September 2029 7,067 — Thereafter 20,658 — Total future minimum lease payments $ 52,904 $ 85 Less amounts representing interest ( 12,988 ) ( 1 ) Total lease liability $ 39,916 $ 84

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 27, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 — Income Taxes The Company recorded an income tax provision as follows (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Provision for income taxes $ 3,179 $ 1,929 $ 7,262 $ 6,366 The effective tax rates for the three months ended September 27, 2024 and September 29, 2023 were 24.2 % and 28.6 %, respectively, and were 34.1 % and 31.9 % for the nine months ended September 27, 2024 and September 29, 2023 , 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 27, 2024 and September 29, 2023 , respectively, primarily due to the income tax expense generated in foreign jurisdictions.

Defined Benefit Pension Plans

Defined Benefit Pension Plans	9 Months Ended
Defined Benefit Pension Plans	Sep. 27, 2024
Retirement Benefits [Abstract]
Defined Benefit Pension Plans	Note 9 – Defined Benefit Pension Plans The Company has defined benefit plans covering employees of its Switzerland and Japan operations. The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Service cost (1) $ 327 $ 256 $ 965 $ 759 Interest cost (2) 88 91 259 268 Expected return on plan assets (2) ( 140 ) ( 92 ) ( 408 ) ( 270 ) Prior service credit (2),(3) ( 45 ) ( 45 ) ( 135 ) ( 135 ) Actuarial loss recognized in current period (2),(3) 28 ( 6 ) 84 ( 19 ) Net periodic pension cost $ 258 $ 204 $ 765 $ 603 (1) Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income. (2) Recognized in other income, net on the Condensed Consolidated Statements of Income. (3) Amounts reclassified from accumulated other comprehensive income (loss). The Company currently is not required to and does not make contributions to its Japan pension plan. The Company’s contributions to its Swiss pension plan are as follows (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Employer contribution $ 285 $ 269 $ 824 $ 731

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 27, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 10 — Stockholders’ Equity Incentive Plan The Company maintains an Amended and Restated Omnibus Equity Incentive Plan (the “Equity Plan”). The Equity Plan allows for awards of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”) and performance stock units (“PSUs”) and other stock- and cash-based awards, including awards that are subject to service-based and performance-based vesting conditions. As of September 27, 2024, the Company had outstanding grants of stock options, restricted stock awards, RSUs and PSUs. Stock option awards granted under the Equity Plan are granted at fair market value on the date of grant, become exercisable generally over a three-year period, or as determined by the Board of Directors, and expire over periods not exceeding 10 years from the date of grant. Certain stock options and stock-based awards provide for accelerated vesting if there is a change in control and pre-established financial metrics are met (as defined in the Equity Plan). Grants of restricted stock outstanding under the Equity Plan generally vest over periods of one to three years . Grants of RSUs and PSUs outstanding under the Equity Plan generally vest based on service, performance, or a combination of both. On June 20, 2024, stockholders approved a proposal to increase the number of shares under the Equity Plan by 2,600,000 shares, for a total of 22,805,000 shares. As of September 27, 2024 , there were 3,464,552 shares available for grant under the Equity Plan. Stock-Based Compensation The cost that has been charged against income for stock-based compensation is set forth below (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Employee stock options $ 3,592 $ 3,517 $ 10,283 $ 9,973 Restricted stock 156 201 354 347 RSUs 3,160 2,214 8,556 5,963 PSUs 115 2,449 2,919 5,958 Nonemployee stock options 137 465 429 1,093 Total stock-based compensation expense $ 7,160 $ 8,846 $ 22,541 $ 23,334 The Company recorded stock-based compensation costs in the following categories (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Cost of sales $ 303 $ 223 $ 964 $ 595 General and administrative 3,621 4,049 11,677 11,107 Selling and marketing 1,213 2,561 3,742 5,910 Research and development 2,023 2,013 6,158 5,722 Total stock-based compensation expense, net 7,160 8,846 22,541 23,334 Amounts capitalized as part of inventory 361 534 1,138 1,431 Total stock-based compensation expense, gross $ 7,521 $ 9,380 $ 23,679 $ 24,765 As of September 27, 2024, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands): September 27, 2024 Stock options $ 22,076 Restricted stock, RSUs and PSUs 28,545 Total unrecognized stock-based compensation cost $ 50,621 The cost is expected to be recognized over a weighted-average period of approximately two years . Note 10 — Stockholders’ Equity (Continued) Assumptions The fair value of each stock option award is estimated on the date of grant using a Black-Scholes option valuation model applying the weighted-average assumptions noted in the following table. Expected volatilities are based on historical volatility of the Company’s stock. The expected term of stock options granted is derived from the historical exercises and post-vesting cancellations and represents the period of time that stock options granted are expected to be outstanding. The Company has calculated a 8 % estimated forfeiture rate based on historical forfeiture experience. The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant. Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Expected dividend yield 0 % 0 % 0 % 0 % Expected volatility 59 % 60 % 59 % 60 % Risk-free interest rate 3.70 % 4.18 % 4.17 % 3.91 % Expected term (in years) 5.29 5.05 5.29 5.05 Stock Options A summary of stock option activity under the Equity Plan for the nine months ended September 27, 2024 is presented below: Stock Weighted- Weighted- Aggregate Outstanding at December 29, 2023 2,630 $ 46.38 Granted 622 38.03 Exercised ( 310 ) 23.76 Forfeited or expired ( 144 ) 70.90 Outstanding at September 27, 2024 2,798 $ 45.76 6.81 $ 12,305 Exercisable at September 27, 2024 1,709 $ 46.54 5.43 $ 11,458 Restricted Stock, Restricted Stock Units and Performance Stock Units A summary of restricted stock, RSU and PSU activity under the Equity Plan for the nine months ended September 27, 2024 is presented below (shares in thousands): Restricted RSUs PSUs Unvested at December 29, 2023 14 401 56 Granted 17 457 390 Vested ( 10 ) ( 127 ) ( 24 ) Forfeited or expired ( 5 ) ( 18 ) ( 16 ) Unvested at September 27, 2024 16 713 406

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11 - Commitments and Contingencies Litigation and Claims From time to time, the Company is involved in various legal proceedings and other matters arising in the normal course of business. These legal proceedings and other matters may relate to, among other things, contractual rights and obligations, employment matters, or claims of product liability. The Company maintains insurance coverage for various matters, including product liability and certain securities claims. While the Company does not believe that any of the claims known is likely to have a material adverse effect on the Company’s financial condition or results of operations, new claims or unexpected results of existing claims could lead to significant financial harm.

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Share	9 Months Ended
Basic and Diluted Net Income Per Share	Sep. 27, 2024
Earnings Per Share [Abstract]
Basic and Diluted Net Income Per Share	Note 12 — 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 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Numerator: Net income $ 9,980 $ 4,817 $ 14,020 $ 13,591 Denominator: Weighted average common shares: Common shares outstanding 49,199 48,625 49,078 48,438 Less: Unvested restricted stock — ( 12 ) — ( 12 ) Denominator for basic calculation 49,199 48,613 49,078 48,426 Weighted average effects of potentially diluted common stock: Stock options 339 679 384 933 Unvested restricted stock 1 — 4 3 RSUs 83 17 84 67 PSUs 109 61 64 65 Denominator for diluted calculation 49,731 49,370 49,614 49,494 Net income per share: Basic $ 0.20 $ 0.10 $ 0.29 $ 0.28 Diluted $ 0.20 $ 0.10 $ 0.28 $ 0.27 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 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Stock options 3,484 2,453 3,350 1,853 Restricted stock, RSUs and PSUs 204 341 64 26 Total 3,688 2,794 3,414 1,879

Disaggregation of Sales, Geogra

Disaggregation of Sales, Geographic Sales and Product Sales	9 Months Ended
Disaggregation of Sales, Geographic Sales and Product Sales	Sep. 27, 2024
Segment Reporting [Abstract]
Disaggregation of Sales, Geographic Sales and Product Sales	Note 13 — Disaggregation of Sales, Geographic Sales and Product Sales In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Non-consignment sales $ 83,703 $ 75,296 $ 250,242 $ 230,527 Consignment sales 4,887 5,012 14,709 15,615 Total net sales $ 88,590 $ 80,308 $ 264,951 $ 246,142 The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10 % of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Domestic $ 4,681 $ 4,164 $ 15,015 $ 13,061 Foreign: China 51,830 48,287 153,774 144,716 Japan 10,534 9,175 30,875 28,526 Other (1) 21,545 18,682 65,287 59,839 Total foreign sales 83,909 76,144 249,936 233,081 Total net sales $ 88,590 $ 80,308 $ 264,951 $ 246,142 (1) No other location individually exceeds 10 % of the total sales. 100 % of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes operating decisions and allocates resources based upon the consolidated operating results, and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery. Historically the Company marketed and sold cataract intraocular lenses (“IOLs”) and related injectors and injector parts. The Company phased out sales of such products in fiscal 2023, and does not expect to sell any such products in fiscal 2024 or thereafter. The composition of the Company’s net sales by product line was as follows (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 ICLs $ 89,101 $ 81,069 $ 265,617 $ 244,806 Other product sales: Cataract IOLs — ( 221 ) — 1,295 Other surgical products (1) ( 511 ) ( 540 ) ( 666 ) 41 Total other product sales ( 511 ) ( 761 ) ( 666 ) 1,336 Total net sales $ 88,590 $ 80,308 $ 264,951 $ 246,142 (1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances. The Company’s China distributors accounted for 59 % and 60 % of net sales for the three months ended September 27, 2024 and September 29, 2023, respectively and accounted for 58 % and 59 % of net sales for the nine months ended September 27, 2024 and September 29, 2023, respectively. As of September 27, 2024 and December 29, 2023, the Company’s China distributors accounted for 69 % and 70 %, respectively, of consolidated trade receivables.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying Condensed Consolidated Financial Statements present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries (the “Company”). All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in the Comprehensive Financial Statements have been condensed or omitted pursuant to such rules and regulations. The Consolidated Balance Sheet as of December 29, 2023 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 29, 2023. The Condensed Consolidated Financial Statements for the three and nine months ended September 27, 2024 and September 29, 2023, in the opinion of management, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial condition and results of operations. The results of operations for the three and nine months ended September 27, 2024 and September 29, 2023, are not necessarily indicative of the results to be expected for any other interim period or for the entire year. Each of the Company’s fiscal reporting periods ends on the Friday nearest to the quarter ending date and generally consists of 13 weeks. Unless the context indicates otherwise “we,” “us,” the “Company,” and “STAAR” refer to STAAR Surgical Company and its consolidated subsidiaries.
Cloud-Based Software Implementation Costs	Cloud-Based Software As of September 27, 2024 and December 29, 2023, the Company recognized $ 12,179,000 and $ 2,406,000 , respectively, of net capitalized cloud-based software implementation costs related to several systems, including enterprise resource planning and customer relationship management systems, recorded within Other assets on the Condensed Consolidated Balance Sheets. As of September 27, 2024 , these assets are not currently placed into service. These assets are expected to be placed into service throughout 2025. No amortization of capitalized cloud-based software implementation costs were recognized during the three and nine months ended September 27, 2024 and September 29, 2023 .
Recent Accounting Pronouncements Adopted and Not Yet Adopted	Recent Accounting Pronouncements Adopted and Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, “Segment Reporting (Topic 280).” ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments (a) disclose significant segment expenses regularly provided to the chief operating decision maker (“CODM”), (b) disclose an amount for other segment items by reportable segment and description of its composition, (c) extend certain annual disclosures to interim periods, (d) clarify single reportable segment entities must apply Topic 280 in its entirety, (e) permit more than one measure of segment profit or loss to be reported under certain conditions and (f) require disclosure of the title and position of the CODM. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted the annual disclosure requirements of ASU 2023-07 as of beginning of fiscal year 2024 and will adopt the interim disclosure requirements beginning fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements. Note 1 — Basis of Presentation and Significant Accounting Policies (Continued) Recent Accounting Pronouncements Adopted and Not Yet Adopted (Continued) In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740).” ASU 2023-09 improves the transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. It also includes certain other amendments to improve the effectiveness of income tax disclosures regarding (a) income or loss from continuing operations disaggregated between domestic and foreign and (b) income tax expense or benefit from continuing operations disaggregated by federal, state and foreign. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company will adopt ASU 2023-09 at the beginning of fiscal year 2025. The Company is currently evaluating the disclosure requirements and its effect on the Condensed Consolidated Financial Statements.

Investments Available for Sale

Investments Available for Sale (Tables)	9 Months Ended
Investments Available for Sale (Tables)	Sep. 27, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Investments Available for Sale and Related Fair Value Measurement	Investments available for sale (“AFS”) and the related fair value measurement consisted of the following (dollars in thousands): September 27, 2024 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 10,582 $ 10 $ ( 1 ) $ 10,591 $ — $ 10,591 Certificates of deposit 253 1 — 254 — 254 U.S. Treasury securities 10,089 4 ( 6 ) 10,087 10,087 — U.S. agency securities 405 — — 405 — 405 Corporate debt securities 50,566 57 ( 5 ) 50,618 — 50,618 Total investments AFS $ 71,895 $ 72 $ ( 12 ) $ 71,955 $ 10,087 $ 61,868 December 29, 2023 Fair Value Measurements Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Level 1 Level 2 Commercial paper $ 7,720 $ 9 $ — $ 7,729 $ — $ 7,729 Certificates of deposit 3,716 4 — 3,720 — 3,720 U.S. Treasury securities 23,036 3 ( 56 ) 22,983 22,983 — U.S. agency securities 3,423 — ( 4 ) 3,419 — 3,419 Corporate debt securities 11,538 12 ( 10 ) 11,540 — 11,540 Total investments AFS $ 49,433 $ 28 $ ( 70 ) $ 49,391 $ 22,983 $ 26,408
Summary of Fair Value of Investments Available for Sale by Contractual Maturity	The following table shows the fair value of investments AFS by contractual maturity (dollars in thousands): As of September 27, 2024 Within one year After one year through five years Total Commercial paper $ 10,591 $ — $ 10,591 Certificates of deposit 254 — 254 U.S. Treasury securities 10,087 — 10,087 U.S. agency securities 405 — 405 Corporate debt securities 50,618 — 50,618 Total investments AFS $ 71,955 $ — $ 71,955

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 27, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories, net are stated at the lower of cost and net realizable value, determined on a first-in, first-out basis and consisted of the following (in thousands): September 27, 2024 December 29, 2023 Raw materials and purchased parts $ 9,523 $ 9,766 Work in process 8,261 5,722 Finished goods 23,901 23,150 Total inventories, gross 41,685 38,638 Less inventory reserves ( 1,324 ) ( 3,508 ) Total inventories, net $ 40,361 $ 35,130

Prepayments, Deposits, and Ot_2

Prepayments, Deposits, and Other Current Assets (Tables)	9 Months Ended
Prepayments, Deposits, and Other Current Assets (Tables)	Sep. 27, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule Of Prepayments, Deposits, and Other Current Assets	Prepayments, deposits, and other current assets consisted of the following (in thousands): September 27, 2024 December 29, 2023 Prepayments and deposits $ 7,510 $ 5,924 Prepaid rent 2,888 292 Prepaid insurance 484 2,314 Prepaid marketing costs 736 2,141 Consumption tax receivable 5 820 Value added tax (VAT) receivable 3,476 2,456 Other (1) 1,178 762 Total prepayments, deposits and other current assets $ 16,277 $ 14,709 (1) No individual category in “Other” exceeds 5 % of the total prepayments, deposits and other current assets.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
Property, Plant and Equipment (Tables)	Sep. 27, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, plant and equipment, net consisted of the following (in thousands): September 27, 2024 December 29, 2023 Machinery and equipment $ 39,863 $ 30,874 Computer equipment and software 12,868 8,495 Furniture and fixtures 6,837 4,122 Leasehold improvements 16,220 10,780 Construction in process 37,843 40,364 Total property, plant and equipment, gross 113,631 94,635 Less accumulated depreciation ( 32,051 ) ( 27,800 ) Total property, plant and equipment, net $ 81,580 $ 66,835

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
Other Current Liabilities (Tables)	Sep. 27, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): September 27, 2024 December 29, 2023 Accrued salaries and wages $ 14,065 $ 12,519 Accrued bonuses 4,050 3,456 Accrued insurance — 2,315 Income taxes payable 7,349 10,848 Marketing obligations 3,048 1,874 Other (1) 10,396 9,926 Total other current liabilities $ 38,908 $ 40,938 (1) No individual category in “Other” exceeds 5 % of the other current liabilities.

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 27, 2024
Leases [Abstract]
Supplemental Balance Sheet Information Related to Finance Leases	Supplemental balance sheet information related to finance leases consisted of the following (dollars in thousands): September 27, 2024 December 29, 2023 Computer equipment and software $ 6 $ 6 Furniture and fixtures 475 475 Finance lease right-of-use assets, gross 481 481 Less accumulated depreciation ( 408 ) ( 298 ) Finance lease right-of-use assets, net $ 73 $ 183 Current finance lease obligations $ 84 $ 165 Long-term finance lease obligations — 42 Total finance lease liability $ 84 $ 207 Weighted-average remaining lease term (in years) 0.5 1.3 Weighted-average discount rate 4.25 % 4.24 %
Supplemental Cash Flow Information Related to Finance Leases	Supplemental cash flow information related to finance leases consisted of the following (dollars in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Amortization of finance lease right-of-use asset $ 36 $ 37 $ 110 $ 114 Interest on finance lease liabilities 1 3 5 10 Cash paid for amounts included in the measurement of finance lease liabilities: Operating cash flows 1 3 5 10 Financing cash flows 42 39 124 121
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases consisted of the following (dollars in thousands): September 27, 2024 December 29, 2023 Machinery and equipment $ 780 $ 735 Computer equipment and software 446 446 Real property 47,696 40,869 Operating lease right-of-use assets, gross 48,922 42,050 Less accumulated depreciation ( 11,025 ) ( 7,663 ) Operating lease right-of-use assets, net $ 37,897 $ 34,387 Current operating lease obligations $ 4,531 $ 4,202 Long-term operating lease obligations 35,385 31,425 Total operating lease liability $ 39,916 $ 35,627 Weighted-average remaining lease term (in years) 7.1 7.3 Weighted-average discount rate 5.77 % 5.48 %
Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to operating leases was as follows (dollars in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Operating lease cost $ 2,128 $ 1,419 $ 6,440 $ 3,883 Cash paid for amounts included in the measurement of operating lease liabilities: Operating cash flows 1,578 1,259 4,443 3,584 Right-of-use assets obtained in exchange for new operating lease liabilities 4,254 4,580 7,740 8,000 Note 7 – Leases (Continued)
Schedule of Estimated Future Maturities of Lease Liabilities under Operating and Finance Leases Having Initial or Remaining Non-Cancelable Lease Terms More Than One Year	Estimated future maturities of lease liabilities under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of September 27, 2024 is as follows (in thousands): . As of September 27, 2024 Operating Leases Finance Leases September 2025 $ 6,848 $ 85 September 2026 4,284 — September 2027 7,096 — September 2028 6,951 — September 2029 7,067 — Thereafter 20,658 — Total future minimum lease payments $ 52,904 $ 85 Less amounts representing interest ( 12,988 ) ( 1 ) Total lease liability $ 39,916 $ 84

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 27, 2024
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 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Provision for income taxes $ 3,179 $ 1,929 $ 7,262 $ 6,366

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)	9 Months Ended
Defined Benefit Pension Plans (Tables)	Sep. 27, 2024
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The Company has defined benefit plans covering employees of its Switzerland and Japan operations. The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Service cost (1) $ 327 $ 256 $ 965 $ 759 Interest cost (2) 88 91 259 268 Expected return on plan assets (2) ( 140 ) ( 92 ) ( 408 ) ( 270 ) Prior service credit (2),(3) ( 45 ) ( 45 ) ( 135 ) ( 135 ) Actuarial loss recognized in current period (2),(3) 28 ( 6 ) 84 ( 19 ) Net periodic pension cost $ 258 $ 204 $ 765 $ 603 (1) Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income. (2) Recognized in other income, net on the Condensed Consolidated Statements of Income. (3) Amounts reclassified from accumulated other comprehensive income (loss).
Schedule of Defined Benefit Plans Disclosures	The Company currently is not required to and does not make contributions to its Japan pension plan. The Company’s contributions to its Swiss pension plan are as follows (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Employer contribution $ 285 $ 269 $ 824 $ 731

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 27, 2024
Stockholders' Equity Note [Abstract]
Schedule of Compensation Cost	The cost that has been charged against income for stock-based compensation is set forth below (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Employee stock options $ 3,592 $ 3,517 $ 10,283 $ 9,973 Restricted stock 156 201 354 347 RSUs 3,160 2,214 8,556 5,963 PSUs 115 2,449 2,919 5,958 Nonemployee stock options 137 465 429 1,093 Total stock-based compensation expense $ 7,160 $ 8,846 $ 22,541 $ 23,334
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 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Cost of sales $ 303 $ 223 $ 964 $ 595 General and administrative 3,621 4,049 11,677 11,107 Selling and marketing 1,213 2,561 3,742 5,910 Research and development 2,023 2,013 6,158 5,722 Total stock-based compensation expense, net 7,160 8,846 22,541 23,334 Amounts capitalized as part of inventory 361 534 1,138 1,431 Total stock-based compensation expense, gross $ 7,521 $ 9,380 $ 23,679 $ 24,765
Schedule of Unrecognized Compensation Cost, Non-Vested Stock-Based Compensation Arrangements	As of September 27, 2024, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands): September 27, 2024 Stock options $ 22,076 Restricted stock, RSUs and PSUs 28,545 Total unrecognized stock-based compensation cost $ 50,621
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 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Expected dividend yield 0 % 0 % 0 % 0 % Expected volatility 59 % 60 % 59 % 60 % Risk-free interest rate 3.70 % 4.18 % 4.17 % 3.91 % Expected term (in years) 5.29 5.05 5.29 5.05
Schedule of Share-based Compensation, Stock Options, Activity	A summary of stock option activity under the Equity Plan for the nine months ended September 27, 2024 is presented below: Stock Weighted- Weighted- Aggregate Outstanding at December 29, 2023 2,630 $ 46.38 Granted 622 38.03 Exercised ( 310 ) 23.76 Forfeited or expired ( 144 ) 70.90 Outstanding at September 27, 2024 2,798 $ 45.76 6.81 $ 12,305 Exercisable at September 27, 2024 1,709 $ 46.54 5.43 $ 11,458
Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity	A summary of restricted stock, RSU and PSU activity under the Equity Plan for the nine months ended September 27, 2024 is presented below (shares in thousands): Restricted RSUs PSUs Unvested at December 29, 2023 14 401 56 Granted 17 457 390 Vested ( 10 ) ( 127 ) ( 24 ) Forfeited or expired ( 5 ) ( 18 ) ( 16 ) Unvested at September 27, 2024 16 713 406

Basic and Diluted Net Income _2

Basic and Diluted Net Income Per Share (Tables)	9 Months Ended
Basic and Diluted Net Income Per Share (Tables)	Sep. 27, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income Per Share	The following table sets forth the computation of basic and diluted net income per share (in thousands except per share amounts): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Numerator: Net income $ 9,980 $ 4,817 $ 14,020 $ 13,591 Denominator: Weighted average common shares: Common shares outstanding 49,199 48,625 49,078 48,438 Less: Unvested restricted stock — ( 12 ) — ( 12 ) Denominator for basic calculation 49,199 48,613 49,078 48,426 Weighted average effects of potentially diluted common stock: Stock options 339 679 384 933 Unvested restricted stock 1 — 4 3 RSUs 83 17 84 67 PSUs 109 61 64 65 Denominator for diluted calculation 49,731 49,370 49,614 49,494 Net income per share: Basic $ 0.20 $ 0.10 $ 0.29 $ 0.28 Diluted $ 0.20 $ 0.10 $ 0.28 $ 0.27
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share	Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Stock options 3,484 2,453 3,350 1,853 Restricted stock, RSUs and PSUs 204 341 64 26 Total 3,688 2,794 3,414 1,879

Disaggregation of Sales, Geog_2

Disaggregation of Sales, Geographic Sales and Product Sales (Tables)	9 Months Ended
	Sep. 27, 2024
Segment Reporting [Abstract]
Disaggregation of Sales	In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands): Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Non-consignment sales $ 83,703 $ 75,296 $ 250,242 $ 230,527 Consignment sales 4,887 5,012 14,709 15,615 Total net sales $ 88,590 $ 80,308 $ 264,951 $ 246,142
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 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Domestic $ 4,681 $ 4,164 $ 15,015 $ 13,061 Foreign: China 51,830 48,287 153,774 144,716 Japan 10,534 9,175 30,875 28,526 Other (1) 21,545 18,682 65,287 59,839 Total foreign sales 83,909 76,144 249,936 233,081 Total net sales $ 88,590 $ 80,308 $ 264,951 $ 246,142 (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 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 ICLs $ 89,101 $ 81,069 $ 265,617 $ 244,806 Other product sales: Cataract IOLs — ( 221 ) — 1,295 Other surgical products (1) ( 511 ) ( 540 ) ( 666 ) 41 Total other product sales ( 511 ) ( 761 ) ( 666 ) 1,336 Total net sales $ 88,590 $ 80,308 $ 264,951 $ 246,142 (1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023	Dec. 29, 2023
Organization And Description Of Business And Accounting Policies [Line Items]
Capitalized cloud-based software implementation costs	$ 12,179,000		$ 12,179,000		$ 2,406,000
Capitalized Computer Software, Amortization	$ 0	$ 0	$ 0	$ 0

Investments Available for Sal_2

Investments Available for Sale - Summary of Investments Available for Sale and Related Fair Value Measurement (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 27, 2024	Dec. 29, 2023
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 71,895	$ 49,433
Unrealized Gains	72	28
Unrealized Losses	(12)	(70)
Estimated Fair Value	71,955	49,391
Fair Value, Inputs, Level 1
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	10,087	22,983
Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	61,868	26,408
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	10,582	7,720
Unrealized Gains	10	9
Unrealized Losses	(1)
Estimated Fair Value	10,591	7,729
Commercial Paper \| Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	10,591	7,729
Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	253	3,716
Unrealized Gains	1	4
Estimated Fair Value	254	3,720
Certificates of Deposit \| Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	254	3,720
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	10,089	23,036
Unrealized Gains	4	3
Unrealized Losses	(6)	(56)
Estimated Fair Value	10,087	22,983
U.S. Treasury Securities \| Fair Value, Inputs, Level 1
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	10,087	22,983
U.S. Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	405	3,423
Unrealized Losses		(4)
Estimated Fair Value	405	3,419
U.S. Agency Securities \| Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	405	3,419
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	50,566	11,538
Unrealized Gains	57	12
Unrealized Losses	(5)	(10)
Estimated Fair Value	50,618	11,540
Corporate Debt Securities \| Fair Value, Inputs, Level 2
Schedule Of Available For Sale Securities [Line Items]
Fair Value Measurements	$ 50,618	$ 11,540

Investments Available for Sal_3

Investments Available for Sale - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Investments, Debt and Equity Securities [Abstract]
Sale of securities	$ 850,000	$ 600,000
Gain on redemption of securities available for sale	2,000
Realized gain on debt securities available for sale		2,000
Allowance for expected credit losses	$ 0	$ 0

Investments Available for Sal_4

Investments Available for Sale - Summary of Fair Value of Investments Available for Sale by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Schedule Of Available For Sale Securities [Line Items]
Within one year	$ 71,955
Total	71,955	$ 49,391
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Within one year	10,591
Total	10,591	7,729
Certificates of Deposit
Schedule Of Available For Sale Securities [Line Items]
Within one year	254
Total	254	3,720
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year	10,087
Total	10,087	22,983
U.S. Agency Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year	405
Total	405	3,419
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Within one year	50,618
Total	$ 50,618	$ 11,540

Inventories - Schedule of Inven

Inventories - Schedule of Inventory, Current (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Inventory Disclosure [Abstract]
Raw materials and purchased parts	$ 9,523	$ 9,766
Work in process	8,261	5,722
Finished goods	23,901	23,150
Total inventories, gross	41,685	38,638
Less inventory reserves	(1,324)	(3,508)
Total inventories, net	$ 40,361	$ 35,130

Prepayments, Deposits, and Ot_3

Prepayments, Deposits, and Other Current Assets - Schedule Of Prepayments, Deposits, and Other Current Assets (Details) - USD ($) $ in Thousands		Sep. 27, 2024	Dec. 29, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and deposits		$ 7,510	$ 5,924
Prepaid rent		2,888	292
Prepaid insurance		484	2,314
Prepaid marketing costs		736	2,141
Consumption tax receivable		5	820
Value added tax (VAT) receivable		3,476	2,456
Other	[1]	1,178	762
Total prepayments, deposits and other current assets		$ 16,277	$ 14,709

[1] No individual category in “Other” 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. 27, 2024	Dec. 29, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Percent of prepayments deposits and other current assets included in other	5%	5%

Property, Plant and Equipment -

Property, Plant and Equipment - Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 39,863	$ 30,874
Computer equipment and software	12,868	8,495
Furniture and fixtures	6,837	4,122
Leasehold improvements	16,220	10,780
Construction in process	37,843	40,364
Total property, plant and equipment, gross	113,631	94,635
Less accumulated depreciation	(32,051)	(27,800)
Total property, plant and equipment, net	$ 81,580	$ 66,835

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands		Sep. 27, 2024	Dec. 29, 2023
Other Liabilities Disclosure [Abstract]
Accrued salaries and wages		$ 14,065	$ 12,519
Accrued bonuses		4,050	3,456
Accrued insurance			2,315
Income taxes payable		7,349	10,848
Marketing obligations		3,048	1,874
Other	[1]	10,396	9,926
Total other current liabilities		$ 38,908	$ 40,938

[1] No individual category in “Other” exceeds 5 % of the other current liabilities.

Other Current Liabilities - S_2

Other Current Liabilities - Schedule of Other Current Liabilities (Parenthetical) (Details)	Sep. 27, 2024	Dec. 29, 2023
Other Liabilities Disclosure [Abstract]
Percent of Other Current Liabilities Included in Other	5%	5%

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 27, 2024
Minimum
Lessee Lease Description [Line Items]
Finance lease, term of contract	2 years
Operating lease, term of contract	2 years
Maximum
Lessee Lease Description [Line Items]
Finance lease, term of contract	5 years
Operating lease, term of contract	10 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Finance Leases (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 481	$ 481
Less accumulated depreciation	(408)	(298)
Finance lease right-of-use assets, net	73	183
Current finance lease obligations	84	165
Long-term finance lease obligations		42
Total finance lease liability	$ 84	$ 207
Weighted-average remaining lease term (in years)	6 months	1 year 3 months 18 days
Weighted-average discount rate	4.25%	4.24%
Computer Equipment and Software
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 6	$ 6
Furniture and Fixtures
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross	$ 475	$ 475

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Finance Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Leases [Abstract]
Amortization of finance lease right-of-use asset	$ 36	$ 37	$ 110	$ 114
Interest on finance lease liabilities	1	3	5	10
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows	1	3	5	10
Financing cash flows	$ 42	$ 39	$ 124	$ 121

Leases - Supplemental Balance_2

Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 48,922	$ 42,050
Less accumulated depreciation	(11,025)	(7,663)
Operating lease right-of-use assets, net	37,897	34,387
Current operating lease obligations	4,531	4,202
Long-term operating lease obligations	35,385	31,425
Total operating lease liability	$ 39,916	$ 35,627
Weighted-average remaining lease term (in years)	7 years 1 month 6 days	7 years 3 months 18 days
Weighted-average discount rate	5.77%	5.48%
Machinery and Equipment
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 780	$ 735
Computer Equipment and Software
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	446	446
Real Property
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross	$ 47,696	$ 40,869

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. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Leases [Abstract]
Operating lease cost	$ 2,128	$ 1,419	$ 6,440	$ 3,883
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows	1,578	1,259	4,443	3,584
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 4,254	$ 4,580	$ 7,740	$ 8,000

Leases - Schedule of Estimated

Leases - Schedule of Estimated Future Maturities of Lease Liabilities under Operating and Finance Leases Having Initial or Remaining Non-Cancelable Lease Terms More Than One Year (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 29, 2023
Operating Lease Liabilities, Payments, Due, Rolling Maturity [Abstract]
September 2025	$ 6,848
September 2026	4,284
September 2027	7,096
September 2028	6,951
September 2029	7,067
Thereafter	20,658
Total future minimum lease payments	52,904
Less amounts representing interest	(12,988)
Total lease liability	39,916	$ 35,627
Finance Lease Liabilities, Payments, Rolling Maturity [Abstract]
September 2025	85
Total future minimum lease payments	85
Less amounts representing interest	(1)
Total lease liability	$ 84	$ 207

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 3,179	$ 1,929	$ 7,262	$ 6,366

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Details)	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	24.20%	28.60%	34.10%	31.90%
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. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Retirement Benefits [Abstract]
Service cost	[1]	$ 327	$ 256	$ 965	$ 759
Interest cost	[2]	88	91	259	268
Expected return on plan assets	[2]	(140)	(92)	(408)	(270)
Prior service credit	[2],[3]	(45)	(45)	(135)	(135)
Actuarial loss recognized in current period	[2],[3]	28	(6)	84	(19)
Net periodic pension cost		$ 258	$ 204	$ 765	$ 603

[1] Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income. Recognized in other income, net on the Condensed Consolidated Statements of Income. Amounts reclassified from accumulated other comprehensive income (loss).

Defined Benefit Pension Plans_2

Defined Benefit Pension Plans - Schedule of Defined Benefit Plans Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Swiss pension plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution	$ 285	$ 269	$ 824	$ 731

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - shares		9 Months Ended
	Jun. 20, 2024	Sep. 27, 2024
Stockholders Equity Note [Line Items]
Weighted-average period of cost expected to recognize		2 years
Estimated forfeiture rate		8%
Omnibus Plan
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period		10 years
Share-based compensation arrangement by share-based payment award, number of additional shares authorized	2,600,000
Share-based compensation arrangement by share-based payment award, number of shares authorized	22,805,000
Omnibus Plan \| Employee Stock Option
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period		3 years
Omnibus Plan \| Restricted Stock
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant		3,464,552
Omnibus Plan \| Restricted Stock \| Minimum
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period		1 year
Omnibus Plan \| Restricted Stock \| Maximum
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period		3 years

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	$ 7,160	$ 8,846	$ 22,541	$ 23,334
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	3,592	3,517	10,283	9,973
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	156	201	354	347
RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	3,160	2,214	8,556	5,963
PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	115	2,449	2,919	5,958
Non Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-Based Payment Arrangement, Expense	$ 137	$ 465	$ 429	$ 1,093

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. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	$ 7,160	$ 8,846	$ 22,541	$ 23,334
Amounts capitalized as part of inventory	361	534	1,138	1,431
Total stock-based compensation expense, gross	7,521	9,380	23,679	24,765
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	303	223	964	595
General and Administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	3,621	4,049	11,677	11,107
Selling and Marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	1,213	2,561	3,742	5,910
Research and Development Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net	$ 2,023	$ 2,013	$ 6,158	$ 5,722

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Unrecognized Compensation Cost Related to Non-Vested Stock-Based Compensation Arrangements (Details) $ in Thousands	Sep. 27, 2024 USD ($)
Share-Based Payment Arrangement [Abstract]
Stock options	$ 22,076
Restricted stock, RSUs and PSUs	28,545
Total unrecognized stock-based compensation cost	$ 50,621

Stockholders' Equity - Schedu_4

Stockholders' Equity - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Stockholders' Equity Note [Abstract]
Expected dividend yield	0%	0%	0%	0%
Expected volatility	59%	60%	59%	60%
Risk-free interest rate	3.70%	4.18%	4.17%	3.91%
Expected term (in years)	5 years 3 months 14 days	5 years 18 days	5 years 3 months 14 days	5 years 18 days

Stockholders' Equity - Schedu_5

Stockholders' Equity - Schedule of Share-based Compensation, Stock Options, Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 27, 2024
Stockholders' Equity Note [Abstract]
Options, Outstanding at December 29, 2023 \| shares	2,630
Options, Granted, Shares \| shares	622
Options, Exercised, Shares \| shares	(310)
Options, Forfeited or expired, Shares \| shares	(144)
Options, Outstanding at September 27, 2024 \| shares	2,798
Options, Exercisable at September 27, 2024 \| shares	1,709
Weighted Average Exercise Price, Options Outstanding at December 29, 2023 \| $ / shares	$ 46.38
Weighted Average Exercise Price, Options, Granted \| $ / shares	38.03
Weighted Average Exercise Price,Options, Exercised \| $ / shares	23.76
Weighted Average Exercise Price, Options, Forfeited or Expired \| $ / shares	70.9
Weighted Average Exercise Price, Options Outstanding at September 27, 2024 \| $ / shares	45.76
Weighted Average Exercise Price, Options Exercisable at September 27, 2024 \| $ / shares	$ 46.54
Weighted Average Remaining Contractual Term, Options, Outstanding at September 27, 2024	6 years 9 months 21 days
Weighted Average Remaining Contractual Term, Options, Exercisable at September 27, 2024	5 years 5 months 4 days
Aggregate Intrinsic Value, Options, Outstanding at September 27, 2024	$ 12,305
Aggregate Intrinsic Value, Options, Exercisable at September 27, 2024	$ 11,458

Stockholders' Equity - Schedu_6

Stockholders' Equity - Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity (Details) shares in Thousands	9 Months Ended
	Sep. 27, 2024 shares
Restricted Stock
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 29, 2023	14
Granted	17
Vested	(10)
Forfeited or expired	(5)
Unvested at September 27, 2024	16
RSUs
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 29, 2023	401
Granted	457
Vested	(127)
Forfeited or expired	(18)
Unvested at September 27, 2024	713
PSUs
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at December 29, 2023	56
Granted	390
Vested	(24)
Forfeited or expired	(16)
Unvested at September 27, 2024	406

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. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Numerator:
Net income	$ 9,980	$ 4,817	$ 14,020	$ 13,591
Weighted average common shares:
Common shares outstanding	49,199	48,625	49,078	48,438
Less: Unvested restricted stock		(12)		(12)
Denominator for basic calculation	49,199	48,613	49,078	48,426
Weighted average effects of potentially diluted common stock:
Diluted	49,731	49,370	49,614	49,494
Net income per share:
Basic	$ 0.2	$ 0.1	$ 0.29	$ 0.28
Diluted	$ 0.2	$ 0.1	$ 0.28	$ 0.27
Employee Stock Options
Weighted average effects of potentially diluted common stock:
Diluted	339	679	384	933
Unvested Restricted Stock
Weighted average effects of potentially diluted common stock:
Diluted	1		4	3
RSUs
Weighted average effects of potentially diluted common stock:
Diluted	83	17	84	67
PSUs
Weighted average effects of potentially diluted common stock:
Diluted	109	61	64	65

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. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount	3,688	2,794	3,414	1,879
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount	3,484	2,453	3,350	1,853
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	204	341	64	26

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. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Total net sales	$ 88,590	$ 80,308	$ 264,951	$ 246,142
Non Consignment Sales [Member]
Total net sales	83,703	75,296	250,242	230,527
Consignment Sales [Member]
Total net sales	$ 4,887	$ 5,012	$ 14,709	$ 15,615

Disaggregation of Sales, Geog_4

Disaggregation of Sales, Geographic Sales and Product Sales - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 27, 2024 Country	Sep. 29, 2023	Sep. 27, 2024 Country Segment	Sep. 29, 2023	Dec. 29, 2023
Geographic and Product Data [Line Items]
Number of countries in which Company operates \| Country	75		75
Number of operating segments \| Segment			1
Sales Revenue, Net \| Geographic Concentration Risk [Member] \| Other than China and Japan [Member] \| Maximum
Geographic and Product Data [Line Items]
Concentration risk, percentage			10%
Sales Revenue, Net \| Geographic Concentration Risk [Member] \| China [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage	59%	60%	58%	59%
Sales Revenue, Net \| Product Concentration Risk [Member] \| Ophthalmic Surgical Product [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage			100%
Accounts Receivable [Member] \| Geographic Concentration Risk [Member] \| China [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage			69%		70%

Disaggregation of Sales, Geog_5

Disaggregation of Sales, Geographic Sales and Product Sales - Net Sales by Geographic Areas (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Geographic And Sales [Line Items]
Total net sales		$ 88,590	$ 80,308	$ 264,951	$ 246,142
Geographic Distribution, Domestic [Member]
Geographic And Sales [Line Items]
Total net sales		4,681	4,164	15,015	13,061
Geographic Distribution, Foreign [Member]
Geographic And Sales [Line Items]
Total net sales		83,909	76,144	249,936	233,081
Geographic Distribution, Foreign [Member] \| China [Member]
Geographic And Sales [Line Items]
Total net sales		51,830	48,287	153,774	144,716
Geographic Distribution, Foreign [Member] \| JAPAN
Geographic And Sales [Line Items]
Total net sales		10,534	9,175	30,875	28,526
Geographic Distribution, Foreign [Member] \| Other [Member]
Geographic And Sales [Line Items]
Total net sales	[1]	$ 21,545	$ 18,682	$ 65,287	$ 59,839

[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. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Product Information [Line Items]
Total other product sales		$ (511)	$ (761)	$ (666)	$ 1,336
Total net sales		88,590	80,308	264,951	246,142
ICLs [Member]
Product Information [Line Items]
Revenue from contract with customer, excluding assessed tax		89,101	81,069	265,617	244,806
Cataract IOLs [Member]
Product Information [Line Items]
Total other product sales			(221)		1,295
Other surgical products [Member]
Product Information [Line Items]
Total other product sales	[1]	$ (511)	$ (540)	$ (666)	$ 41

[1] Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.