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STAA Staar Surgical

Document And Entity Information

Document And Entity Information - shares3 Months Ended
Apr. 02, 2021Apr. 30, 2021
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Period End DateApr. 2,
2021
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Entity Registrant NameSTAAR SURGICAL CO
Entity Central Index Key0000718937
Current Fiscal Year End Date--01-01
Entity Filer CategoryLarge Accelerated Filer
Trading SymbolSTAA
Entity Common Stock, Shares Outstanding46,895,095
Entity Emerging Growth Companyfalse
Entity Small Businessfalse
Entity Current Reporting StatusYes
Entity Shell Companyfalse
Entity Interactive Data CurrentYes
Entity File Number0-11634
Title of 12(b) SecurityCommon
Security Exchange NameNASDAQ
Entity Tax Identification Number95-3797439
Entity Address, Address Line One25651 Atlantic Ocean Drive
Entity Address, City or TownLake Forest
Entity Address, State or ProvinceCA
Entity Address, Postal Zip Code92630
City Area Code626
Local Phone Number303-7902
Entity Incorporation, State or Country CodeDE
Document Quarterly Reporttrue
Document Transition Reportfalse

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Current assets:
Cash and cash equivalents $ 162,344 $ 152,453
Accounts receivable trade, net of allowance of doubtful accounts of $60 and $59, respectively33,733 35,229
Inventories, net16,789 18,111
Prepayments, deposits and other current assets10,649 10,625
Total current assets223,515 216,418
Property, plant and equipment, net26,314 24,030
Finance lease right-of-use assets, net80 596
Operating lease right-of-use assets, net8,666 8,764
Intangible assets, net249 270
Goodwill1,786 1,786
Deferred income taxes4,536 4,944
Other assets660 608
Total assets265,806 257,416
Current liabilities:
Line of credit1,288 1,379
Accounts payable7,834 7,874
Obligations under finance leases124 360
Obligations under operating leases2,373 2,485
Allowance for sales returns4,595 4,532
Other current liabilities19,915 24,606
Total current liabilities36,129 41,236
Obligations under finance leases28 38
Obligations under operating leases6,316 6,537
Deferred income taxes222 222
Asset retirement obligations206 221
Pension liability8,729 11,940
Total liabilities51,630 60,194
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 60,000 shares authorized: 46,857 and 46,448 shares issued and outstanding at April 2, 2021 and January 1, 2021, respectively469 464
Additional paid-in capital348,063 338,194
Accumulated other comprehensive loss(3,457)(5,545)
Accumulated deficit(130,899)(135,891)
Total stockholders’ equity214,176 197,222
Total liabilities and stockholders’ equity $ 265,806 $ 257,416

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current $ 60 $ 59
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized60,000,000 60,000,000
Common stock, shares issued46,857,000 46,448,000
Common stock, shares outstanding46,857,000 46,448,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Income Statement [Abstract]
Net sales $ 50,752,000 $ 35,187,000
Cost of sales11,610,000 10,427,000
Gross profit39,142,000 24,760,000
Selling, general and administrative expenses:
General and administrative10,212,000 7,969,000
Selling and marketing13,201,000 11,028,000
Research and development8,259,000 6,898,000
Total selling, general and administrative expenses31,672,000 25,895,000
Operating income (loss)7,470,000 (1,135,000)
Other expense, net:
Interest income (expense), net(7,000)216,000
Loss on foreign currency transactions(1,299,000)(468,000)
Royalty income160,000 94,000
Other income (expense), net(85,000)1,000
Total other expense, net(1,231,000)(157,000)
Income (loss) before income taxes6,239,000 (1,292,000)
Provision (benefit) for income taxes1,247,000 (1,158,000)
Net income (loss) $ 4,992,000 $ (134,000)
Net income (loss) per share:
Basic $ 0.11 $ 0
Diluted $ 0.10 $ 0
Weighted average shares outstanding:
Basic46,617 44,953
Diluted49,213 44,953

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss) $ 4,992 $ (134)
Defined benefit plans:
Net change in plan assets3,084 (25)
Reclassification into other income (expense), net120 70
Foreign currency translation loss(1,116)(27)
Tax effect4
Other comprehensive income, net of tax2,088 22
Comprehensive income (loss) $ 7,080 $ (112)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in ThousandsTotalCommon StockAdditional Paid-in CapitalAccumulated Other Comprehensive Income (Loss)Accumulated Deficit
Balance at Jan. 03, 2020 $ 159,884 $ 448 $ 304,288 $ (3,048) $ (141,804)
Balance (in shares) at Jan. 03, 202044,822
Net income (loss)(134)(134)
Other comprehensive income22 22
Common stock issued upon exercise of options2,004 $ 2 2,002
Common stock issued upon exercise of options (in shares)196
Stock-based compensation3,190 3,190
Vested restricted stock1 $ 1
Vested restricted stock (in shares)87
Balance at Apr. 03, 2020164,967 $ 451 309,480 (3,026)(141,938)
Balance (in shares) at Apr. 03, 202045,105
Balance at Jan. 01, 2021197,222 $ 464 338,194 (5,545)(135,891)
Balance (in shares) at Jan. 01, 202146,448
Net income (loss)4,992 4,992
Other comprehensive income2,088 2,088
Common stock issued upon exercise of options $ 6,234 $ 4 6,230
Common stock issued upon exercise of options (in shares)376 376
Stock-based compensation $ 3,639 3,639
Vested restricted stock1 $ 1
Vested restricted stock (in shares)33
Balance at Apr. 02, 2021 $ 214,176 $ 469 $ 348,063 $ (3,457) $ (130,899)
Balance (in shares) at Apr. 02, 202146,857

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Cash flows from operating activities:
Net income (loss) $ 4,992 $ (134)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of property, plant, and equipment865 766
Amortization of intangibles9 9
Deferred income taxes(1,369)
Change in net pension liability127 173
Loss on disposal of property and equipment2 3
Stock-based compensation expense3,330 2,921
Provision for sales returns and bad debts103 80
Inventory provision384 336
Changes in working capital:
Accounts receivable1,138 (3,462)
Inventories984 (491)
Prepayments, deposits, and other current assets(143)(2,446)
Accounts payable(399)907
Other current liabilities(4,626)(5,464)
Net cash provided by (used in) operating activities6,766 (8,171)
Cash flows from investing activities:
Acquisition of property and equipment(2,159)(2,185)
Net cash used in investing activities(2,159)(2,185)
Cash flows from financing activities:
Repayment of finance lease obligations(235)(236)
Repayment on line of credit(505)
Proceeds from the exercise of stock options6,234 2,004
Proceeds from vested restricted stock1 1
Net cash provided by financing activities6,000 1,264
Effect of exchange rate changes on cash, cash equivalents and restricted cash(716)(25)
Increase (decrease) in cash, cash equivalents and restricted cash9,891 (9,117)
Cash, cash equivalents and restricted cash, at beginning of the period152,453 119,968
Cash, cash equivalents and restricted cash, at end of the period $ 162,344 $ 110,851

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies3 Months Ended
Apr. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting PoliciesNote 1 — Basis of Presentation and Significant Accounting Policies The Condensed Consolidated Financial Statements of the Company present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in the Comprehensive Financial Statements have been condensed or omitted pursuant to such rules and regulations. The Consolidated Balance Sheet as of January 1, 2021 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 1, 2021. The Condensed Consolidated Financial Statements for the three months ended April 2, 2021 and April 3, 2020, 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 months ended April 2, 2021 and April 3, 2020, 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. Vendor Concentration There was one vendor which accounted for over 11% and 10% of the Company’s consolidated accounts payable as of April 2, 2021 and January 1, 2021, respectively. There were no vendors who accounted for over 10% of the Company’s consolidated purchases for the three months ended April 2, 2021 and April 3, 2020, respectively. Use of Estimates During the COVID-19 pandemic, the Company believes it has used reasonable estimates and assumptions in determining valuation allowances for uncollectible trade receivables, sales returns reserves, obsolete and excess inventory reserves, deferred income taxes, and tax reserves, including valuation allowances for deferred tax assets, pension liabilities, evaluation of asset impairment, in determining the useful life of depreciable and definite-lived intangible assets, and in the variables and assumptions used to calculate and record stock-based compensation. Throughout the COVID-19 pandemic the Company offered extended payment terms to assist its surgeon customers and their clinics as they resumed business. Although the Company experienced some delays in payments on accounts receivable as a result of the COVID-19 pandemic in the first half of 2020, the Company experienced improvements since the third quarter of 2020 as elective refractive surgeries resumed. The Company is unaware of any material impairment of customer receivables. The Company’s sales representatives throughout the world remain engaged with customers conducting online training and other educational courses which have been very well attended. This activity has given the Company insight into COVID-19’s impact on customers and potential impairment of receivables. Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted On January 1, 2021 (beginning of fiscal year 2021), the Company adopted Accounting Standards Update (“ASU”) 2019‑12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which removes the following exceptions: exception to the incremental approach for intraperiod tax allocation; exception to accounting for basis differences when there are ownership changes in foreign investments; and exception to interim period tax accounting for year to date losses that exceed anticipated losses. ASU 2019-12 also improves financial reporting for franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacted changes in tax laws in interim periods. The adoption of ASU 2019-12 did not have a material impact on the Condensed Consolidated Financial Statements.

Inventories

Inventories3 Months Ended
Apr. 02, 2021
Inventory Disclosure [Abstract]
InventoriesNote 2 — 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):
April 2, 2021
January 1, 2021
Raw materials and purchased parts
$
3,534
$
3,679
Work in process
2,272
2,174
Finished goods
12,440
13,717
Total inventories, gross
18,246
19,570
Less inventory reserves
(1,457
)
(1,459
)
Total inventories, net
$
16,789
$
18,111

Prepayments, Deposits, and Othe

Prepayments, Deposits, and Other Current Assets3 Months Ended
Apr. 02, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepayments, Deposits, and Other Current AssetsNote 3 — Prepayments, Deposits, and Other Current Assets Prepayments, deposits, and other current assets consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Prepayments and deposits
$
3,625
$
3,423
Prepaid insurance
1,980
2,677
Prepaid marketing
1,281
368
Consumption tax receivable
170
1,409
Value added tax (VAT) receivable
1,763
2,056
BVG (Swiss Pension) prepayment
808
2
Other (1)
1,022
690
Total prepayments, deposits and other current assets
$
10,649
$
10,625
(1)

Property, Plant and Equipment

Property, Plant and Equipment3 Months Ended
Apr. 02, 2021
Property Plant And Equipment [Abstract]
Property, Plant and EquipmentNote 4 — Property, Plant and Equipment Property, plant and equipment, net consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Machinery and equipment
$
21,877
$
21,209
Computer equipment and software
8,362
7,423
Furniture and fixtures
4,672
4,676
Leasehold improvements
11,404
11,388
Construction in process
12,598
11,120
Total property, plant and equipment, gross
58,913
55,816
Less accumulated depreciation
(32,599
)
(31,786
)
Total property, plant and equipment, net
$
26,314
$
24,030

Intangible Assets

Intangible Assets3 Months Ended
Apr. 02, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible AssetsNote 5 –Intangible Assets Intangible assets, net consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Long-lived amortized intangible assets
Gross Carrying Amount
Accumulated Amortization
Net
Gross Carrying Amount
Accumulated Amortization
Net
Patents and licenses
$
9,339
$
(9,090
)
$
249
$
9,382
$
(9,112
)
$
270

Other Current Liabilities

Other Current Liabilities3 Months Ended
Apr. 02, 2021
Other Liabilities Disclosure [Abstract]
Other Current LiabilitiesNote 6 – Other Current Liabilities Other current liabilities consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Accrued salaries and wages
$
5,086
$
6,061
Accrued bonuses
1,896
3,000
Accrued insurance
1,757
2,633
Income taxes payable
5,517
4,657
Accrued consumption tax
520
1,743
Marketing obligations
1,430
1,484
Other (1)
3,709
5,028
Total other current liabilities
$
19,915
$
24,606
(1)
No individual item in “Other” exceeds 5% of the other current liabilities.

Lines of Credit

Lines of Credit3 Months Ended
Apr. 02, 2021
Debt Disclosure [Abstract]
Lines of CreditNote 7 – Lines of Credit Since 1998, the Company’s wholly owned Japanese subsidiary, STAAR Japan, has had an agreement with Mizuho Bank which provides for borrowings of up to 500,000,000 Yen, at an interest rate equal to the uncollateralized overnight call rate (approximately 0.07% as of April 2 2021) plus a 0.50% spread, and may be renewed quarterly (the current line expires on May 21, 2021). The credit facility is not collateralized. The Company had 142,500,000 Yen outstanding on the line of credit as of April 2, 2021 and January 1, 2021 (approximately $1,288,000 and $1,379,000 based on the foreign exchange rates on April 2, 2021 and January 1, 2021, respectively), which approximates fair value due to the short-term maturity and market interest rates of the line of credit. In case of default, the interest rate will be increased to 14% per annum. There was 357,500,000 Yen available for borrowing as of April 2, 2021 and January 1, 2021 (approximately $3,232,000 and $3,459,000 based on the foreign exchange rate on April 2, 2021 and January 1, 2021, respectively). At maturity on May 21, 2021, the Company expects to renew this line of credit for an additional three months, with similar terms. In September 2013, the Company’s wholly owned Swiss subsidiary, STAAR Surgical AG, entered into a framework agreement for loans (“framework agreement”) with Credit Suisse (the “Bank”). The framework agreement provides for borrowings of up to 1,000,000 CHF (Swiss Francs) (approximately $1,100,000 at the rate of exchange on April 2, 2021 and January 1, 2021), to be used for working capital purposes. Accrued interest and 0.25% commissions on average outstanding borrowings is payable quarterly and the interest rate will be determined by the Bank based on the then prevailing market conditions at the time of borrowing. The framework agreement is automatically renewed on an annual basis based on the same terms assuming there is no default. The framework agreement may be terminated by either party at any time in accordance with its general terms and conditions. The framework agreement is not collateralized and contains certain conditions such as providing the Bank with audited financial statements annually and notice of significant events or conditions, as defined in the framework agreement. The Bank may also declare all amounts outstanding to be immediately due and payable upon a change of control or a “material qualification” in STAAR Surgical independent auditors’ report, as defined. There were no borrowings outstanding as of April 2, 2021 and January 1, 2021. The Company is in compliance with covenants of its credit facilities and lines of credit as of April 2, 2021.

Leases

Leases3 Months Ended
Apr. 02, 2021
Leases [Abstract]
LeasesNote 8 – Leases Finance Leases The Company entered into finance leases primarily related to purchases of equipment used for manufacturing or computer-related equipment. 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):
April 2, 2021
January 1, 2021
Machinery and equipment
$
36
$
570
Computer equipment and software
659
806
Finance lease right-of-use assets, gross
695
1,376
Less accumulated depreciation
(615
)
(780
)
Finance lease right-of-use assets, net
$
80
$
596
Total finance lease liability
$
152
$
398
Weighted-average remaining lease term (in years)
1.4
0.9
Weighted-average discount rate
2.62
%
3.46
% Supplemental cash flow information related to finance leases consisted of the following (dollars in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Amortization of finance lease right-of-use asset
$
36
$
117
Interest on finance lease liabilities
4
10
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows
4
10
Financing cash flows
235
236
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 did 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):
April 2, 2021
January 1, 2021
Machinery and equipment
$
879
$
860
Computer equipment and software
168
462
Real property
13,460
12,956
Operating lease right-of-use assets, gross
14,507
14,278
Less accumulated depreciation
(5,841
)
(5,514
)
Operating lease right-of-use assets, net
$
8,666
$
8,764
Total operating lease liability
$
8,689
$
9,022
Weighted-average remaining lease term (in years)
5.0
5.2
Weighted-average discount rate
2.73
%
2.61
% Note 8 – Leases (Continued) Operating Leases Supplemental cash flow information related to operating leases was as follows (dollars in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Operating lease cost
$
783
$
740
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows
785
738
Right-of-use assets obtained in exchange for new operating lease liabilities
651
69
Future Minimum Lease Commitments Estimated future minimum lease payments under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of April 2, 2021 is as follows (in thousands):
As of April 2, 2021 12 Months Ended
Operating Leases
Finance Leases
March 2022
$
2,573
$
127
March 2023
2,395
14
March 2024
1,681
14
March 2025
826

March 2026
455

Thereafter
1,184

Total minimum lease payments, including interest
$
9,114
$
155
Less amounts representing interest
(425
)
(3
)
Total minimum lease payments
$
8,689
$
152

Income Taxes

Income Taxes3 Months Ended
Apr. 02, 2021
Income Tax Disclosure [Abstract]
Income TaxesNote 9 — The Company recorded an income tax provision as follows (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Provision (benefit) for income taxes
$
1,247
$
(1,158
) The Company recorded income taxes of $1,247,000 for the three months ended April 2, 2021 due to pre-tax income generated in certain foreign jurisdictions. The Company recorded an income tax benefit of $1,158,000 for the three months ended April 3, 2020 due to a release of its U.S. valuation allowance , offset by pre-tax income generated in certain foreign jurisdictions. The Company’s quarterly provision for income taxes is determined by estimating an annual effective tax rate. This estimate may fluctuate throughout the year as new information becomes available affecting its underlying assumptions. There are no unrecognized tax benefits related to uncertain tax positions taken by the Company. All earnings from the Company’s subsidiaries are not considered to be permanently reinvested. The 2017 Tax Act subjects a U.S. shareholder to tax on Global Intangible Low Tax Income (“GILTI”) earned by certain foreign subsidiaries. In general, GILTI is the excess of a U.S. shareholder’s total net foreign income over a deemed return on tangible assets. The provision further allows a deduction of 50 percent of GILTI, however this deduction is limited by the Company’s U.S. taxable income. The Company has elected to account for GILTI as a current period expense when incurred. Note 9 — The final regulations also allow companies to exclude certain high-taxed income from their GILTI calculation (the GILTI high-tax exclusion). The GILTI high-tax exclusion applies if the effective foreign tax rate is 90% or more of the rate that would apply if the income were subject to the maximum US rate of tax specified in section 11 (currently 18.9%, based on a maximum rate of 21%). The final regulations also provide that the GILTI high-tax exclusion is an annual election made each year and is retroactive to years beginning after December 31, 2017. The Company has made the election to exclude certain high-taxed income from its GILTI calculation for the three months ended April 2, 2021 and April 3, 2020. The ultimate realization of deferred tax assets is dependent upon future generation of income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the projected future income and tax planning strategies in making this assessment. Since January 1, 2021, the Company had three years of accumulated profits for federal and various state income tax purposes as a result of GILTI. However, the three-year income position is not solely determinative and, accordingly, management considers all other available positive and negative evidence in its analysis. This includes existing profits in foreign jurisdiction as well as projected future profits. As further described in Notes 1 and 10 of the Company’s fiscal 2020 Form 10-K, under the “incremental cash tax savings approach,” the Company recorded a valuation allowance release of $3,576,000 and $294,000 against the federal and certain states deferred tax assets, respectively, as of April 2, 2021, and January 1, 2021. Total U.S. net deferred tax assets were $3,870,000 as of April 2, 2021 and January 1, 2021. Under the incremental cash tax savings approach, the U.S. valuation allowances of $41,467,000 and $42,080,000, will remain as the usage of the remaining net operating losses and deferred tax assets will not result in cash tax savings and therefore provide no additional benefit as of April 2, 2021 and January 1, 2021, respectively

Defined Benefit Pension Plans

Defined Benefit Pension Plans3 Months Ended
Apr. 02, 2021
Compensation And Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits DisclosureNote 10 – Defined Benefit Pension Plans The Company has defined benefit plans covering employees of its Switzerland and Japan operations. The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Service cost (1)
$
348
$
319
Interest cost (2)
14
11
Expected return on plan assets (2)
(99
)
(43
)
Prior service credit (2),(3)
(11
)
(9
)
Actuarial loss recognized in current period (2),(3)
131
79
Net periodic pension cost
$
383
$
357
(1)
Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Operations.
( 2 )
Recognized in other income (expense), net on the Condensed Consolidated Statements of Operations.
(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
April 2, 2021
April 3, 2020
Employer contribution
$
193
$
175

Stockholders' Equity

Stockholders' Equity3 Months Ended
Apr. 02, 2021
Stockholders Equity Note [Abstract]
Stockholders' EquityNote 11 — Stockholders’ Equity Stock-Based Compensation The cost that has been charged against income for stock-based compensation is set forth below (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Employee stock options
$
2,472
$
2,232
Restricted stock
166
78
Restricted stock units
537
549
Performance stock units
93

Nonemployee stock options
62
62
Total stock-based compensation expense
$
3,330
$
2,921
The Company recorded stock-based compensation costs in the following categories (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Cost of sales
$
35
$
22
General and administrative
1,439
1,085
Marketing and selling
833
1,055
Research and development
1,023
759
Total stock-based compensation expense, net
3,330
2,921
Amounts capitalized as part of inventory
309
269
Total stock-based compensation expense, gross
$
3,639
$
3,190
Incentive Plan The Amended and Restated Omnibus Equity Incentive Plan (“the Plan”) provides for various forms of stock-based incentives. To date, of the available forms of awards under the Plan, the Company has granted only stock options, restricted stock, unrestricted share grants, restricted stock units (“RSUs”) and performance stock units (“PSUs”). Options under the Plan are granted at fair market value on the date of grant, become exercisable generally over a three-year Assumptions The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model applying the weighted-average assumptions noted in the following table. Expected volatilities are based on historical volatility of the Company’s stock. The expected term of options granted is derived from the historical exercises and post-vesting cancellations estimated forfeiture rate based on historical forfeiture experience. The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant. Note 11 — Stockholders’ Equity (Continued)
Three Months Ended
April 2, 2021
April 3, 2020
Expected dividend yield
0
%
0
%
Expected volatility
53
%
53
%
Risk-free interest rate
0.84
%
0.54
%
Expected term (in years)
5.38
5.72
Stock Options A summary of stock option activity under the Plan for the three months ended April 2, 2021 is presented below:
Stock Options (in 000’s)
Minimum Exercise Price
Maximum Exercise Price
Outstanding at January 1, 2021
3,418
Granted
243
Exercised
(376
)
Forfeited or expired

Outstanding at April 2, 2021
3,285
$
5.34
$
106.51
Exercisable at April 2, 2021
2,324
Restricted Stock, Restricted Stock Units and Performance Stock Units A summary of restricted stock, RSUs and PSUs activity under the Plan for the three months ended April 2, 2021 is presented below:
Restricted Stock (in 000’s)
Restricted Stock Units (in 000’s)
Performance Stock Units (in 000’s)
Unvested at January 1, 2021
11
122
15
Granted

48

Vested

(33
)

Forfeited or expired



Unvested at April 2, 2021
11
137
15

Commitments and Contingencies

Commitments and Contingencies3 Months Ended
Apr. 02, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and ContingenciesNote 12 - Commitments and Contingencies Litigation and Claims On December 31, 2020, Amir Sitabkhan filed a stockholder derivative complaint against certain members of our Board of Directors, Caren Mason, Stephen C. Farrell, John C. Moore, and Louis E. Silverman, as well as current Chief Financial Officer (CFO) Patrick F. Williams and former CFO Deborah Andrews in the U.S. District Court for the Central District of California. The plaintiff alleges breaches of fiduciary duties by, among other things, allowing STAAR to disseminate misleading statements to investors regarding its sales and growth in China and overstating marketing and research and development expenses, failing to properly oversee the Company, and unjust enrichment. The complaint sought damages, restitution and governance reforms, attorneys’ fees, and costs. On January 21, 2021, the court granted the parties’ stipulation extending the time for defendants to respond to the complaint to March 8, 2021. On March 9, 2021, Mr. Sitabkhan’s counsel filed a notice of voluntary dismissal of the lawsuit, which dismissed the lawsuit without prejudice. Employment Agreements The Company’s Chief Executive Officer entered into an employment agreement with the Company, effective March 1, 2015. She and certain officers have as provisions of their agreements certain rights, including continuance of cash compensation and benefits, upon a “change in control,” which may include an acquisition of substantially all its assets, or termination “without cause or for good reason” as defined in the employment agreements.

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Share3 Months Ended
Apr. 02, 2021
Earnings Per Share [Abstract]
Basic and Diluted Net Income Per ShareNote 13 — Basic and Diluted Net Income Per Share The following table sets forth the computation of basic and diluted net income per share (in thousands except per share amounts):
Three Months Ended
April 2, 2021
April 3, 2020
Numerator:
Net income (loss)
$
4,992
$
(134
)
Denominator:
Weighted average common shares:
Common shares outstanding
46,628
44,964
Less: Unvested restricted stock
(11
)
(11
)
Denominator for basic calculation
46,617
44,953
Weighted average effects of potentially diluted common stock:
Stock options
2,491

Unvested restricted stock
8

Restricted stock units
88

Performance stock units
9

Denominator for diluted calculation
49,213
44,953
Net income (loss) per share:
Basic
$
0.11
$
(0.00
)
Diluted
$
0.10
$
(0.00
) Because the Company had a net loss for the three months ended April 3, 2020, the number of diluted shares is equal to the number of basic shares. 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
April 2, 2021
April 3, 2020
Stock options
86
3,771
Restricted stock, restricted stock units and performance stock units

88
Total
86
3,859

Disaggregation of Sales, Geogra

Disaggregation of Sales, Geographic Sales and Product Sales3 Months Ended
Apr. 02, 2021
Segment Reporting [Abstract]
Disaggregation of Sales, Geographic Sales and Product SalesNote 14 — Disaggregation of Sales, Geographic Sales and Product Sales In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Non-consignment sales
$
45,417
$
30,400
Consignment sales
5,335
4,787
Total net sales
$
50,752
$
35,187
The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10% of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Domestic
$
2,340
$
1,739
Foreign:
China
19,643
11,715
Japan
9,603
8,302
Other (1)
19,166
13,431
Total foreign sales
48,412
33,448
Total net sales
$
50,752
$
35,187
(1)
No other location individually exceeds 10% of the total sales. 100
Three Months Ended
April 2, 2021
April 3, 2020
ICLs
$
46,501
$
29,340
Other product sales
IOLs
3,725
3,994
Other surgical products
526
1,853
Total other product sales
4,251
5,847
Total net sales
$
50,752
$
35,187
One customer, the Company’s distributor in China, accounted for 39% and 33% of net sales for the three months ended April 2, 2021 and April 3, 2020, respectively. As of April 2, 2021 and January 1, 2021, respectively, one customer, the Company’s distributor in China, accounted for 37% and 46% of consolidated trade receivables.

COVID-19 and CARES Act Developm

COVID-19 and CARES Act Developments3 Months Ended
Apr. 02, 2021
C O V I D19and C A R E S Act Developments [Abstract]
COVID-19 and CARES Act DevelopmentsNote 15 — COVID-19 and CARES Act Developments In December 2019, COVID-19 surfaced and in March 2020, the World Health Organization declared a pandemic related to the rapid spread of COVID-19 around the world. The impact of the COVID-19 outbreak on the businesses and the economy in the U.S. and the rest of the world is, and is expected to continue to be, uncertain and may continue to be significant. Accordingly, the Company cannot predict the extent to which its financial condition and results of operation will be affected. On March 17, 2020, the Company suspended most of its production and non-essential business locations where employees can work from home. A very limited number of manufacturing personnel remained at work for critical late staged processes, until the end of March 2020. Manufacturing resumed on April 27, 2020. The Company’s revenues have been adversely impacted, and the Company experienced a substantial slowdown in sales beginning March 20, 2020 in global geographies characterized as “hot spots” for the COVID-19 virus, including parts of Europe, North America, Asia, the Middle East and India. In certain of these markets, sales have paused as elective surgeries are discouraged to support COVID-19 related needs. The Company expects decreases in sales in certain geographies to continue in 2021 as different geographies resume business activities on differing timelines. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. The Company did not apply for or require financing available under the CARES Act and does not expect to do so. The Company will continue to monitor the impact that the CARES Act may have on its business, financial condition, results of operations, or liquidity. The Consolidated Appropriations Act (“CAA”) among other things, opened up another round of Paycheck Protection Program loans, expanding eligibility to small nonprofits, destination marking organizations, and housing cooperatives, provided additional funding for the Economic Injury Disaster Loans and grants, extends the Employee Retention Tax Credit, also extended and expanded Paid Sick and Family Leave Credits and the Employee Social Security tax deferral. The Company will continue to monitor the impact that the CAA may have on its business, financial condition, results of operations, or liquidity.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)3 Months Ended
Apr. 02, 2021
Accounting Policies [Abstract]
Basis of PresentationThe Condensed Consolidated Financial Statements of the Company present the financial position, results of operations, and cash flows of STAAR Surgical Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Commission. In accordance with those rules and regulations certain information and footnote disclosures normally included in the Comprehensive Financial Statements have been condensed or omitted pursuant to such rules and regulations. The Consolidated Balance Sheet as of January 1, 2021 was derived from the audited financial statements at that date, but does not include all the information and footnotes required by GAAP. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 1, 2021. The Condensed Consolidated Financial Statements for the three months ended April 2, 2021 and April 3, 2020, 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 months ended April 2, 2021 and April 3, 2020, 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.
Vendor ConcentrationVendor Concentration There was one vendor which accounted for over 11% and 10% of the Company’s consolidated accounts payable as of April 2, 2021 and January 1, 2021, respectively. There were no vendors who accounted for over 10% of the Company’s consolidated purchases for the three months ended April 2, 2021 and April 3, 2020, respectively.
Use of EstimatesUse of Estimates During the COVID-19 pandemic, the Company believes it has used reasonable estimates and assumptions in determining valuation allowances for uncollectible trade receivables, sales returns reserves, obsolete and excess inventory reserves, deferred income taxes, and tax reserves, including valuation allowances for deferred tax assets, pension liabilities, evaluation of asset impairment, in determining the useful life of depreciable and definite-lived intangible assets, and in the variables and assumptions used to calculate and record stock-based compensation. Throughout the COVID-19 pandemic the Company offered extended payment terms to assist its surgeon customers and their clinics as they resumed business. Although the Company experienced some delays in payments on accounts receivable as a result of the COVID-19 pandemic in the first half of 2020, the Company experienced improvements since the third quarter of 2020 as elective refractive surgeries resumed. The Company is unaware of any material impairment of customer receivables. The Company’s sales representatives throughout the world remain engaged with customers conducting online training and other educational courses which have been very well attended. This activity has given the Company insight into COVID-19’s impact on customers and potential impairment of receivables.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet AdoptedRecently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted On January 1, 2021 (beginning of fiscal year 2021), the Company adopted Accounting Standards Update (“ASU”) 2019‑12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which removes the following exceptions: exception to the incremental approach for intraperiod tax allocation; exception to accounting for basis differences when there are ownership changes in foreign investments; and exception to interim period tax accounting for year to date losses that exceed anticipated losses. ASU 2019-12 also improves financial reporting for franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacted changes in tax laws in interim periods. The adoption of ASU 2019-12 did not have a material impact on the Condensed Consolidated Financial Statements.

Inventories (Tables)

Inventories (Tables)3 Months Ended
Apr. 02, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, CurrentInventories, 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):
April 2, 2021
January 1, 2021
Raw materials and purchased parts
$
3,534
$
3,679
Work in process
2,272
2,174
Finished goods
12,440
13,717
Total inventories, gross
18,246
19,570
Less inventory reserves
(1,457
)
(1,459
)
Total inventories, net
$
16,789
$
18,111

Prepayments, Deposits, and Ot_2

Prepayments, Deposits, and Other Current Assets (Tables)3 Months Ended
Apr. 02, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Schedule Of Prepayments, Deposits, and Other Current AssetsPrepayments, deposits, and other current assets consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Prepayments and deposits
$
3,625
$
3,423
Prepaid insurance
1,980
2,677
Prepaid marketing
1,281
368
Consumption tax receivable
170
1,409
Value added tax (VAT) receivable
1,763
2,056
BVG (Swiss Pension) prepayment
808
2
Other (1)
1,022
690
Total prepayments, deposits and other current assets
$
10,649
$
10,625
(1)

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)3 Months Ended
Apr. 02, 2021
Property Plant And Equipment [Abstract]
Property, Plant and Equipment, NetProperty, plant and equipment, net consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Machinery and equipment
$
21,877
$
21,209
Computer equipment and software
8,362
7,423
Furniture and fixtures
4,672
4,676
Leasehold improvements
11,404
11,388
Construction in process
12,598
11,120
Total property, plant and equipment, gross
58,913
55,816
Less accumulated depreciation
(32,599
)
(31,786
)
Total property, plant and equipment, net
$
26,314
$
24,030

Intangible Assets (Tables)

Intangible Assets (Tables)3 Months Ended
Apr. 02, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible AssetsIntangible assets, net consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Long-lived amortized intangible assets
Gross Carrying Amount
Accumulated Amortization
Net
Gross Carrying Amount
Accumulated Amortization
Net
Patents and licenses
$
9,339
$
(9,090
)
$
249
$
9,382
$
(9,112
)
$
270

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)3 Months Ended
Apr. 02, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Other Current LiabilitiesOther current liabilities consisted of the following (in thousands):
April 2, 2021
January 1, 2021
Accrued salaries and wages
$
5,086
$
6,061
Accrued bonuses
1,896
3,000
Accrued insurance
1,757
2,633
Income taxes payable
5,517
4,657
Accrued consumption tax
520
1,743
Marketing obligations
1,430
1,484
Other (1)
3,709
5,028
Total other current liabilities
$
19,915
$
24,606
(1)
No individual item in “Other” exceeds 5% of the other current liabilities.

Leases (Tables)

Leases (Tables)3 Months Ended
Apr. 02, 2021
Leases [Abstract]
Supplemental Balance Sheet Information Related to Finance LeasesSupplemental balance sheet information related to finance leases consisted of the following (dollars in thousands):
April 2, 2021
January 1, 2021
Machinery and equipment
$
36
$
570
Computer equipment and software
659
806
Finance lease right-of-use assets, gross
695
1,376
Less accumulated depreciation
(615
)
(780
)
Finance lease right-of-use assets, net
$
80
$
596
Total finance lease liability
$
152
$
398
Weighted-average remaining lease term (in years)
1.4
0.9
Weighted-average discount rate
2.62
%
3.46
%
Supplemental Cash Flow Information Related to Finance LeasesSupplemental cash flow information related to finance leases consisted of the following (dollars in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Amortization of finance lease right-of-use asset
$
36
$
117
Interest on finance lease liabilities
4
10
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows
4
10
Financing cash flows
235
236
Supplemental Balance Sheet Information Related to Operating LeasesSupplemental balance sheet information related to operating leases consisted of the following (dollars in thousands):
April 2, 2021
January 1, 2021
Machinery and equipment
$
879
$
860
Computer equipment and software
168
462
Real property
13,460
12,956
Operating lease right-of-use assets, gross
14,507
14,278
Less accumulated depreciation
(5,841
)
(5,514
)
Operating lease right-of-use assets, net
$
8,666
$
8,764
Total operating lease liability
$
8,689
$
9,022
Weighted-average remaining lease term (in years)
5.0
5.2
Weighted-average discount rate
2.73
%
2.61
%
Supplemental Cash Flow Information Related to Operating LeasesSupplemental cash flow information related to operating leases was as follows (dollars in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Operating lease cost
$
783
$
740
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows
785
738
Right-of-use assets obtained in exchange for new operating lease liabilities
651
69
Schedule of Estimated Future Minimum Lease Payments under Operating and Finance Leases Having Initial or Remaining Non-Cancelable Lease Terms More Than One YearEstimated future minimum lease payments under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of April 2, 2021 is as follows (in thousands):
As of April 2, 2021 12 Months Ended
Operating Leases
Finance Leases
March 2022
$
2,573
$
127
March 2023
2,395
14
March 2024
1,681
14
March 2025
826

March 2026
455

Thereafter
1,184

Total minimum lease payments, including interest
$
9,114
$
155
Less amounts representing interest
(425
)
(3
)
Total minimum lease payments
$
8,689
$
152

Income Taxes (Tables)

Income Taxes (Tables)3 Months Ended
Apr. 02, 2021
Income Tax Disclosure [Abstract]
Schedule of Income Tax ProvisionThe Company recorded an income tax provision as follows (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Provision (benefit) for income taxes
$
1,247
$
(1,158
)

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)3 Months Ended
Apr. 02, 2021
Compensation And Retirement Disclosure [Abstract]
Schedule of Net Benefit CostsThe 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
April 2, 2021
April 3, 2020
Service cost (1)
$
348
$
319
Interest cost (2)
14
11
Expected return on plan assets (2)
(99
)
(43
)
Prior service credit (2),(3)
(11
)
(9
)
Actuarial loss recognized in current period (2),(3)
131
79
Net periodic pension cost
$
383
$
357
(1)
Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Operations.
( 2 )
Recognized in other income (expense), net on the Condensed Consolidated Statements of Operations.
(3)
Amounts reclassified from accumulated other comprehensive income (loss).
Schedule of Defined Benefit Plans DisclosuresThe 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
April 2, 2021
April 3, 2020
Employer contribution
$
193
$
175

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)3 Months Ended
Apr. 02, 2021
Stockholders Equity Note [Abstract]
Schedule of Compensation CostThe cost that has been charged against income for stock-based compensation is set forth below (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Employee stock options
$
2,472
$
2,232
Restricted stock
166
78
Restricted stock units
537
549
Performance stock units
93

Nonemployee stock options
62
62
Total stock-based compensation expense
$
3,330
$
2,921
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period CostsThe Company recorded stock-based compensation costs in the following categories (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Cost of sales
$
35
$
22
General and administrative
1,439
1,085
Marketing and selling
833
1,055
Research and development
1,023
759
Total stock-based compensation expense, net
3,330
2,921
Amounts capitalized as part of inventory
309
269
Total stock-based compensation expense, gross
$
3,639
$
3,190
Schedule of Share-based Payment Award, Stock Options, Valuation AssumptionsThe 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
April 2, 2021
April 3, 2020
Expected dividend yield
0
%
0
%
Expected volatility
53
%
53
%
Risk-free interest rate
0.84
%
0.54
%
Expected term (in years)
5.38
5.72
Schedule of Share-based Compensation, Stock Options, ActivityA summary of stock option activity under the Plan for the three months ended April 2, 2021 is presented below:
Stock Options (in 000’s)
Minimum Exercise Price
Maximum Exercise Price
Outstanding at January 1, 2021
3,418
Granted
243
Exercised
(376
)
Forfeited or expired

Outstanding at April 2, 2021
3,285
$
5.34
$
106.51
Exercisable at April 2, 2021
2,324
Schedule of Share-based Compensation, Restricted Stock, Restricted Stock Units and Performance Stock Units ActivityA summary of restricted stock, RSUs and PSUs activity under the Plan for the three months ended April 2, 2021 is presented below:
Restricted Stock (in 000’s)
Restricted Stock Units (in 000’s)
Performance Stock Units (in 000’s)
Unvested at January 1, 2021
11
122
15
Granted

48

Vested

(33
)

Forfeited or expired



Unvested at April 2, 2021
11
137
15

Basic and Diluted Net Income _2

Basic and Diluted Net Income Per Share (Tables)3 Months Ended
Apr. 02, 2021
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income Per ShareThe following table sets forth the computation of basic and diluted net income per share (in thousands except per share amounts):
Three Months Ended
April 2, 2021
April 3, 2020
Numerator:
Net income (loss)
$
4,992
$
(134
)
Denominator:
Weighted average common shares:
Common shares outstanding
46,628
44,964
Less: Unvested restricted stock
(11
)
(11
)
Denominator for basic calculation
46,617
44,953
Weighted average effects of potentially diluted common stock:
Stock options
2,491

Unvested restricted stock
8

Restricted stock units
88

Performance stock units
9

Denominator for diluted calculation
49,213
44,953
Net income (loss) per share:
Basic
$
0.11
$
(0.00
)
Diluted
$
0.10
$
(0.00
)
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per ShareThree Months Ended
April 2, 2021
April 3, 2020
Stock options
86
3,771
Restricted stock, restricted stock units and performance stock units

88
Total
86
3,859

Disaggregation of Sales, Geog_2

Disaggregation of Sales, Geographic Sales and Product Sales (Tables)3 Months Ended
Apr. 02, 2021
Segment Reporting [Abstract]
Disaggregation of SalesIn 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
April 2, 2021
April 3, 2020
Non-consignment sales
$
45,417
$
30,400
Consignment sales
5,335
4,787
Total net sales
$
50,752
$
35,187
Net Sales by Geographic AreasThe composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
Domestic
$
2,340
$
1,739
Foreign:
China
19,643
11,715
Japan
9,603
8,302
Other (1)
19,166
13,431
Total foreign sales
48,412
33,448
Total net sales
$
50,752
$
35,187
(1)
No other location individually exceeds 10% of the total sales.
Net Sales by Products and ServicesThe composition of the Company’s net sales by product line was as follows (in thousands):
Three Months Ended
April 2, 2021
April 3, 2020
ICLs
$
46,501
$
29,340
Other product sales
IOLs
3,725
3,994
Other surgical products
526
1,853
Total other product sales
4,251
5,847
Total net sales
$
50,752
$
35,187

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) - Vendor Concentration Risk - Maximum3 Months Ended12 Months Ended
Apr. 02, 2021Apr. 03, 2020Jan. 01, 2021
Consolidated Accounts Payable
Organization And Description Of Business And Accounting Policies [Line Items]
Concentration risk, percentage11.00%10.00%
Consolidated Purchases
Organization And Description Of Business And Accounting Policies [Line Items]
Concentration risk, percentage10.00%10.00%

Inventories - Schedule of Inven

Inventories - Schedule of Inventory, Current (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Inventory Disclosure [Abstract]
Raw materials and purchased parts $ 3,534 $ 3,679
Work in process2,272 2,174
Finished goods12,440 13,717
Total inventories, gross18,246 19,570
Less inventory reserves(1,457)(1,459)
Total inventories, net $ 16,789 $ 18,111

Prepayments, Deposits, and Ot_3

Prepayments, Deposits, and Other Current Assets - Schedule Of Prepayments, Deposits, and Other Current Assets (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Prepayments and deposits $ 3,625 $ 3,423
Prepaid insurance1,980 2,677
Prepaid marketing1,281 368
Consumption tax receivable170 1,409
Value added tax (VAT) receivable1,763 2,056
BVG (Swiss Pension) prepayment808 2
Other[1]1,022 690
Total prepayments, deposits and other current assets $ 10,649 $ 10,625
[1]No individual item in “other current assets” exceeds 5% of the total prepayments, deposits and other current assets.

Prepayments, Deposits, and Ot_4

Prepayments, Deposits, and Other Current Assets - Schedule Of Prepayments, Deposits, and Other Current Assets (Parenthetical) (Details)Apr. 02, 2021Jan. 01, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Percent of prepayments deposits and other current assets included in other current assets5.00%5.00%

Property, Plant and Equipment -

Property, Plant and Equipment - Property, Plant and Equipment, Net (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Property Plant And Equipment [Abstract]
Machinery and equipment $ 21,877 $ 21,209
Computer equipment and software8,362 7,423
Furniture and fixtures4,672 4,676
Leasehold improvements11,404 11,388
Construction in process12,598 11,120
Total property, plant and equipment, gross58,913 55,816
Less accumulated depreciation(32,599)(31,786)
Total property, plant and equipment, net $ 26,314 $ 24,030

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Long-lived intangible assets
Long-lived intangible assets, Net $ 249 $ 270
Patents and licenses
Long-lived intangible assets
Long-lived intangible assets, Gross Carrying Amount9,339 9,382
Long-lived intangible assets, Accumulated Amortization(9,090)(9,112)
Long-lived intangible assets, Net $ 249 $ 270

Other Current Liabilities - Sch

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Other Liabilities Disclosure [Abstract]
Accrued salaries and wages $ 5,086 $ 6,061
Accrued bonuses1,896 3,000
Accrued insurance1,757 2,633
Income taxes payable5,517 4,657
Accrued consumption tax520 1,743
Marketing obligations1,430 1,484
Other[1]3,709 5,028
Total other current liabilities $ 19,915 $ 24,606
[1]No individual item in “Other” exceeds 5% of the other current liabilities

Other Current Liabilities - S_2

Other Current Liabilities - Schedule of Other Current Liabilities (Parenthetical) (Details)Apr. 02, 2021Jan. 01, 2021
Other Liabilities Disclosure [Abstract]
Percent of Other Current Liabilities Included in Other5.00%5.00%

Lines of Credit - Additional In

Lines of Credit - Additional Information (Details)3 Months Ended
Apr. 02, 2021USD ($)Apr. 02, 2021JPY (¥)Jan. 01, 2021USD ($)Jan. 01, 2021JPY (¥)Sep. 30, 2013CHF (SFr)
Line Of Credit Facility [Line Items]
Line of Credit, Current $ 1,288,000 $ 1,379,000
Mizuho Bank
Line Of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity | ¥ ¥ 500,000,000
Line of Credit Facility, Interest Rate Description(approximately 0.07% as of April 2 2021) plus a 0.50% spread, and may be renewed quarterly (the current line expires on May 21, 2021).  
Line of credit facility, interest rate0.07%0.07%
Line of credit facility, spread rate0.50%
Line of credit facility, expiration dateMay 21,
2021
Line of Credit, Current $ 1,288,000 ¥ 142,500,000 1,379,000 ¥ 142,500,000
Interest Rate Increase In Case Of Default14.00%
Line of Credit Facility, Remaining Borrowing Capacity $ 3,232,000 ¥ 357,500,000 3,459,000 ¥ 357,500,000
Credit Suisse Bank
Line Of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity $ 1,100,000 1,100,000 SFr 1,000,000
Percentage Of Commission On Outstanding Notes Payable0.25%
Borrowings outstanding $ 0 $ 0

Leases - Additional Information

Leases - Additional Information (Details)Apr. 02, 2021
Minimum
Lessee Lease Description [Line Items]
Finance lease, term of contract2 years
Operating lease, term of contract2 years
Maximum
Lessee Lease Description [Line Items]
Finance lease, term of contract5 years
Operating lease, term of contract10 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Finance Leases (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross $ 695 $ 1,376
Less accumulated depreciation(615)(780)
Finance lease right-of-use assets, net80 596
Total finance lease liability $ 152 $ 398
Weighted-average remaining lease term (in years)1 year 4 months 24 days10 months 24 days
Weighted-average discount rate2.62%3.46%
Machinery and Equipment
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross $ 36 $ 570
Computer Equipment and Software
Lessee Lease Description [Line Items]
Finance lease right-of-use assets, gross $ 659 $ 806

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Finance Leases (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Leases [Abstract]
Amortization of finance lease right-of-use asset $ 36 $ 117
Interest on finance lease liabilities4 10
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows4 10
Financing cash flows $ 235 $ 236

Leases - Supplemental Balance_2

Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross $ 14,507 $ 14,278
Less accumulated depreciation(5,841)(5,514)
Operating lease right-of-use assets, net8,666 8,764
Total operating lease liability $ 8,689 $ 9,022
Weighted-average remaining lease term (in years)5 years5 years 2 months 12 days
Weighted-average discount rate2.73%2.61%
Machinery and Equipment
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross $ 879 $ 860
Computer Equipment and Software
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross168 462
Real Property
Lessee Lease Description [Line Items]
Operating lease right-of-use assets, gross $ 13,460 $ 12,956

Leases - Supplemental Cash Fl_2

Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Leases [Abstract]
Operating lease cost $ 783 $ 740
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows785 738
Right-of-use assets obtained in exchange for new operating lease liabilities $ 651 $ 69

Leases - Schedule of Estimated

Leases - Schedule of Estimated Future Minimum Lease Payments under Operating and Finance Leases Having Initial or Remaining Non-Cancelable Lease Terms More Than One Year (Details) - USD ($) $ in ThousandsApr. 02, 2021Jan. 01, 2021
Operating Lease Liabilities, Payments, Due, Rolling Maturity [Abstract]
March 2022 $ 2,573
March 20232,395
March 20241,681
March 2025826
March 2026455
Thereafter1,184
Total minimum lease payments, including interest9,114
Less amounts representing interest(425)
Total operating lease liability8,689 $ 9,022
Finance Lease Liabilities, Payments, Rolling Maturity [Abstract]
March 2022127
March 202314
March 202414
Total minimum lease payments, including interest155
Less amounts representing interest(3)
Total finance lease liability $ 152 $ 398

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Details) - USD ($)3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes $ 1,247,000 $ (1,158,000)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)3 Months Ended12 Months Ended
Apr. 02, 2021Apr. 03, 2020Jan. 01, 2021
Income Taxes [Line Items]
Income tax expense (benefit) $ 1,247,000 $ (1,158,000)
Valuation allowance, deferred tax asset, increase (decrease), amount, COVID effect $ 1,369,000
Unrecognized tax benefits related to uncertain tax positions $ 0
Percentage of deduction in GILTI50.00%
US
Income Taxes [Line Items]
Deferred tax assets, valuation allowance $ 41,467,000 $ 42,080,000
Deferred Tax Assets, Net3,870,000 3,870,000
Federal
Income Taxes [Line Items]
Valuation allowance, deferred tax asset, increase (decrease), amount3,576,000 3,576,000
State
Income Taxes [Line Items]
Valuation allowance, deferred tax asset, increase (decrease), amount $ 294,000 $ 294,000

Defined Benefit Pension Plans -

Defined Benefit Pension Plans - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Compensation And Retirement Disclosure [Abstract]
Service cost[1] $ 348 $ 319
Interest cost[2]14 11
Expected return on plan assets[2](99)(43)
Prior service credit[2],[3](11)(9)
Actuarial loss recognized in current period[2],[3]131 79
Net periodic pension cost $ 383 $ 357
[1]Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Operations.
[2]Recognized in other income (expense), net on the Condensed Consolidated Statements of Operations.
[3]Amounts reclassified from accumulated other comprehensive income (loss).

Defined Benefit Pension Plans_2

Defined Benefit Pension Plans - Schedule of Defined Benefit Plans Disclosures (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Swiss pension plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer $ 193 $ 175

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Compensation Cost (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense $ 3,330 $ 2,921
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense2,472 2,232
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense166 78
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense537 549
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense93
Non Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense $ 62 $ 62

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net $ 3,330 $ 2,921
Amounts capitalized as part of inventory309 269
Total stock-based compensation expense, gross3,639 3,190
Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net35 22
General and Administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net1,439 1,085
Marketing and Selling
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net833 1,055
Research and Development Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, net $ 1,023 $ 759

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details)3 Months Ended
Apr. 02, 2021shares
Stockholders Equity Note [Line Items]
Estimated forfeiture rate6.00%
Omnibus Plan
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period10 years
Omnibus Plan | Employee Stock Option
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period3 years
Omnibus Plan | Restricted Stock
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant3,040,305
Omnibus Plan | Restricted Stock | Minimum
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period1 year
Omnibus Plan | Restricted Stock | Maximum
Stockholders Equity Note [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period3 years

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Stockholders Equity Note [Abstract]
Expected dividend yield0.00%0.00%
Expected volatility53.00%53.00%
Risk-free interest rate0.84%0.54%
Expected term (in years)5 years 4 months 17 days5 years 8 months 19 days

Stockholders' Equity - Schedu_4

Stockholders' Equity - Schedule of Share-based Compensation, Stock Options, Activity (Details) shares in Thousands3 Months Ended
Apr. 02, 2021$ / sharesshares
Stockholders Equity Note [Abstract]
Options, Outstanding at January 1, 20213,418
Options, Granted, Shares243
Options, Exercised, Shares(376)
Options, Outstanding at April 2, 20213,285
Options, Exercisable at April 2, 20212,324
Minimum Exercise Price | $ / shares $ 5.34
Maximum Exercise Price | $ / shares $ 106.51

Stockholders' Equity - Schedu_5

Stockholders' Equity - Schedule of Share-based Compensation, Restricted Stock, Restricted Stock Units and Performance Stock Units Activity (Details) shares in Thousands3 Months Ended
Apr. 02, 2021shares
Restricted Stock
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at January 1, 202111
Unvested at April 2, 202111
Restricted Stock Units (RSUs)
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at January 1, 2021122
Granted48
Vested(33)
Unvested at April 2, 2021137
Performance Stock Units
Schedule of Restricted Stock Restricted Stock Units and Performance Stock Units [Line Items]
Unvested at January 1, 202115
Unvested at April 2, 202115

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)3 Months Ended
Apr. 02, 2021
Commitments And Contingencies Disclosure [Abstract]
Loss contingency, date of dismissalMar. 9,
2021

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 Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Numerator:
Net income (loss) $ 4,992 $ (134)
Weighted average common shares:
Common shares outstanding46,628 44,964
Less: Unvested restricted stock(11)(11)
Denominator for basic calculation46,617 44,953
Weighted average effects of potentially diluted common stock:
Diluted49,213 44,953
Net income (loss) per share:
Basic $ 0.11 $ 0
Diluted $ 0.10 $ 0
Employee Stock Options
Weighted average effects of potentially diluted common stock:
Diluted2,491
Unvested Restricted Stock
Weighted average effects of potentially diluted common stock:
Diluted8
Restricted Stock Units
Weighted average effects of potentially diluted common stock:
Diluted88
Performance Stock Units
Weighted average effects of potentially diluted common stock:
Diluted9

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 Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount86 3,859
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount86 3,771
Restricted Stock, Restricted Stock Units and Performance Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, Amount88

Disaggregation of Sales, Geog_3

Disaggregation of Sales, Geographic Sales and Product Sales - Disaggregation of Sales (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Total net sales $ 50,752 $ 35,187
Non Consignment Sales [Member]
Total net sales45,417 30,400
Consignment Sales [Member]
Total net sales $ 5,335 $ 4,787

Disaggregation of Sales, Geog_4

Disaggregation of Sales, Geographic Sales and Product Sales - Additional Information (Details)3 Months Ended12 Months Ended
Apr. 02, 2021CountrySegmentApr. 03, 2020Jan. 01, 2021
Geographic and Product Data [Line Items]
Number of countries in which Company operates | Country75
Number of operating segments | Segment1
Sales Revenue, Net | Customer One [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage39.00%33.00%
Sales Revenue, Net | Geographic Concentration Risk [Member] | Other than China and Japan [Member] | Maximum
Geographic and Product Data [Line Items]
Concentration risk, percentage10.00%
Sales Revenue, Net | Product Concentration Risk [Member] | Ophthalmic Surgical Product [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage100.00%
Accounts Receivable [Member] | Customer One [Member]
Geographic and Product Data [Line Items]
Concentration risk, percentage37.00%46.00%

Disaggregation of Sales, Geog_5

Disaggregation of Sales, Geographic Sales and Product Sales - Net Sales by Geographic Areas (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Geographic And Sales [Line Items]
Total net sales $ 50,752 $ 35,187
Geographic Distribution, Domestic [Member]
Geographic And Sales [Line Items]
Total net sales2,340 1,739
Geographic Distribution, Foreign [Member]
Geographic And Sales [Line Items]
Total net sales48,412 33,448
Geographic Distribution, Foreign [Member] | China [Member]
Geographic And Sales [Line Items]
Total net sales19,643 11,715
Geographic Distribution, Foreign [Member] | JAPAN
Geographic And Sales [Line Items]
Total net sales9,603 8,302
Geographic Distribution, Foreign [Member] | Other [Member]
Geographic And Sales [Line Items]
Total net sales[1] $ 19,166 $ 13,431
[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 Thousands3 Months Ended
Apr. 02, 2021Apr. 03, 2020
Product Information [Line Items]
Revenue from contract with customer, excluding assessed tax $ 4,251 $ 5,847
Total net sales50,752 35,187
ICLs [Member]
Product Information [Line Items]
Revenue from contract with customer, excluding assessed tax46,501 29,340
IOLs [Member]
Product Information [Line Items]
Revenue from contract with customer, excluding assessed tax3,725 3,994
Other surgical products [Member]
Product Information [Line Items]
Revenue from contract with customer, excluding assessed tax $ 526 $ 1,853