STAAR SURGICAL CO
For the period ended Dec 29, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
STAA$23.87-2.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $21,347 | $39,665 | $27,511 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation of property, plant, and equipment | 5,111 | 4,481 | 3,608 |
| Amortization of intangibles | 13 | 28 | 34 |
| Impairment of intangibles | 154 | — | — |
| Accretion/amortization of investments available for sale | (2,501) | (1,198) | — |
| Deferred income taxes | 3,264 | (2,254) | (1,515) |
| Change in net pension liability | (956) | 53 | 137 |
| Loss on disposal of property and equipment | 73 | 65 | 2 |
| Stock-based compensation expense | 23,516 | 20,371 | 14,605 |
| Change in asset retirement obligation | (102) | 47 | — |
| Provision for sales returns and credit losses | 663 | 913 | 318 |
| Inventory provision | 4,851 | 2,423 | 1,654 |
| Changes in working capital: | |||
| Accounts receivable | (32,760) | (19,601) | (8,868) |
| Inventories | (14,361) | (7,943) | 66 |
| Prepayments, deposits, and other assets | (3,413) | (2,549) | (711) |
| Accounts payable | (701) | 1,805 | 108 |
| Other current liabilities | 10,396 | (591) | 7,013 |
| Net cash provided by operating activities | 14,594 | 35,715 | 43,962 |
| Cash flows from investing activities: | |||
| Acquisition of property and equipment | (18,188) | (18,108) | (13,645) |
| Purchase of investments available for sale | (52,313) | (155,748) | — |
| Proceeds from sale or maturity of investments available for sale | 144,848 | 17,480 | — |
| Net cash provided by (used in) investing activities | 74,347 | (156,376) | (13,645) |
| Cash flows from financing activities: | |||
| Repayment of finance lease obligations | (161) | (126) | (348) |
| Repayment of line of credit | — | — | (1,297) |
| Repurchase of employee common stock for taxes withheld | (2,097) | — | — |
| Proceeds from the exercise of stock options | 9,672 | 8,422 | 19,437 |
| Proceeds from vested restricted stock | 1 | 1 | 1 |
| Net cash provided by financing activities | 7,415 | 8,297 | 17,793 |
| Effect of exchange rate changes on cash and cash equivalents | 202 | (862) | (857) |
| Increase (decrease) in cash and cash equivalents | 96,558 | (113,226) | 47,253 |
| Cash and cash equivalents, at beginning of year | 86,480 | 199,706 | 152,453 |
| Cash and cash equivalents, at end of year | $183,038 | $86,480 | $199,706 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.