Staar Surgical Company's stock surged 23.85% in after-hours trading, following the company's announcement of preliminary first-quarter net sales that more than doubled year-over-year and significantly exceeded analyst expectations.

The implantable lens maker reported preliminary Q1 2026 net sales above $90 million, compared to $42.6 million in the same period last year, representing growth of over 111%. This result beat the consensus analyst estimate of approximately $67 million. The company attributed the strong performance primarily to robust demand in China, its largest market, along with continued double-digit sales growth in the Americas.

Adding to the positive sentiment, Canaccord Genuity upgraded its rating on Staar Surgical to "Buy" from "Hold" and raised its price target to $27 from $22. The company noted that despite geopolitical challenges affecting some regions, the higher sales combined with an improved cost structure are expected to drive meaningful improvement in adjusted EBITDA for the quarter.