Good day, ladies and gentlemen. Thank you for standing by. Welcome to the STAAR Surgical First Quarter Financial Results Conference Call. [Operator Instructions] This call is being recorded today, Wednesday, May 5, 2021. At this time, I would like to turn the conference over to Mr. Brian Moore, Vice President, Investor Media Relations and Corporate Development for STAAR Surgical. Sir, the floor is yours.

Thank you, operator, and good afternoon, everyone. Thank you for joining us on the STAAR Surgical conference call this afternoon to discuss the Company's financial results for the first quarter ended April 2, 2021. On the call today are Caren Mason, President and Chief Executive Officer; and Patrick Williams, Chief Financial Officer. The press release of our first quarter results was issued just after 4:00 P.M. Eastern Time and is now available on STAAR's website at: www.STAAR.com. Before we begin, let me quickly remind you that during the course of this conference call, the Company will make forward-looking statements. We caution you that any statement that is not a statement of historical fact is a forward-looking statement. This includes remarks about the Company's projections, expectations, plans, beliefs, and prospects. These statements are based on judgment and analysis as of the date of this conference call and are subject to numerous important risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties with the forward-looking statements made in this conference call and webcast are described in the Safe Harbor statement in today's press release as well as STAAR's public periodic filings with the SEC. Except as required by law, STAAR assumes no obligation to update these forward-looking statements to reflect future events or actual outcomes, and does not intend to do so. In addition, to supplement the GAAP numbers, we have provided non-GAAP adjusted net income and adjusted earnings per share, and sales in constant currency. We believe that these non-GAAP numbers provide meaningful supplemental information and are helpful in assessing our historical and future performance. A table reconciling the GAAP information to the non-GAAP information is included in today's press release. Following our prepared remarks, we will open the line to questions from publishing analysts. We ask analysts limit themselves to two initial questions, and then requeue with any follow-ups. We thank everyone in advance for their cooperation with this process. And with that, I would now like to turn the call over to Caren Mason, President and CEO of STAAR.

Thank you, Brian. Good afternoon, everyone, and thank you for joining us on today's call. The record results for the first quarter of 2021 demonstrate that the promise for a lens-based future of refractive vision correction is accelerating, led by STAAR's EVO Visian family of implantable Collamer lenses. STAAR's imperatives around surgeon training and partnership, clinical support, and extraordinary customer outreach continue to be the underpinnings of our excellent results. We achieved strong and significant ICL unit growth globally, including China, up 63%, Japan, up 72%, South Korea, up 29%, Asia-Pacific distributor markets, up 63%, India, up 67%, Spain, up 42%, Germany, up 48%, European distributor markets up 54%, and the US, up 46%; all as compared to the prior year quarter. All told, global ICL unit growth for the first quarter of 2021 was up 54% year-over-year. Strong ICL unit growth drove company net sales growth of 44% year-over-year to $50.8 million in the first quarter of 2021. This impressive level of growth exceeds the aggressive 2020 to 2022, three-year plan growth we outlined for you in November 2019, for year two of the plan. We are pleased to report that our sales momentum is accelerating in 2021 as we are successfully addressing the unique and large addressable market opportunity for our EVO Visian ICL family of lenses. STAAR's track record as the fastest-growing US publicly traded Ophthalmology Company also continues. The underpinnings of our success are the delighted patients who achieve visual freedom with our lenses, broadening support from the refractive surgeon community as the patient satisfaction and wow factor expressed by patients. It's a significant win for our surgeon partners and their staff. This positive outcome is supported by effective direct-to-consumer outreach that resonates with patients seeking to free themselves from the hassles of glasses and contact…

Thank you, Caren, and good afternoon, everyone. Total net sales for Q1 2021 were $50.8 million, up 44% as compared to the $35.2 million of net sales in Q1 2020 and at 10% on a sequential basis from Q4 2020. The year-over-year increase in net sales was attributable to the growth Caren highlighted earlier and the sequential increase in sales was due to the increasing momentum in our business. As we enter our seasonally higher sales quarters in Q2 and Q3 and prepare for the busy implants, using the key markets like China, we anticipate Q2 2021 net sales to be higher in Q1 2021, which we currently expect would represent approximately 50% year-over-year revenue growth in Q2. In terms of product mix, ICL sales represented 93% of total company net sales for Q1 2021, and other products represent 8%. As a reminder, our other product sales primarily consist of Phakic or cataract IOLs and injectors' business, which serve only certain markets globally. The mix of ICL for Q1 was higher than recent trends due to higher ICL sales, and approximately $1.6 million lower other Product Sales, specifically, injectors as compared to Q1 2020. The lower injector sales were the result of a product yield issue from our third-party manufacturer, which thereby limited our supply available for sale during Q1 2021. Our third-party manufacturer is in the process of reworking materials and we anticipate our supply will return to normal by the end of Q2 2021. We now anticipate total other Product sales will be approximately $50 million for the full year 2021, which is contemplated in our full year sales outlook, and which speaks to the strength in our core higher growth and higher margin ICL business. Gross profit for Q1 2021 was $39.1 million or 77.1% of net…

[Operator Instructions] Our first question comes from the line of Anthony Petrone from Jefferies.

Good afternoon, everyone, and congratulations on really a breakout quarter year. And hope everyone's doing well. I'm going to keep it brief with two quick questions. And want us to just get an idea of the source of the break out in growth and sort of awareness, sort of quantify what is catch-up in these numbers versus sustainable growth drivers? Or just underlying demand starting to really kick in the gear here? And then, the follow-up would be, specifically, on the US and EU implant numbers. Obviously, much higher than what we expected. Are you seeing any buy-in of legacy products ahead of a full-scale Viva launch in Europe, for instance, and the potential launch of EVO Visian in the US? Thanks, and congratulations again.

Thanks very much, Anthony. We appreciate you joining us. And in terms of your first question, no, we don't see this as a catch-up; we see this as a continuation of the great momentum pre-COVID that began at the end of 2019 into the first couple of months of 2020. And if you remember, last year, Europe and the US, North America, were not really impacted much in Q1. It was mostly China, as a matter of fact, Korea and Japan through much of the pandemic continued to see patients successfully for vision correction with our EVO lenses. So, what we see this is as a return to pre-COVID levels with great momentum, going into the rest of the year. With regard to the wonderful uptake that we were seeing in Europe, for example, we believe that a lot of the work that we've done with regards to getting the word out on EVO, over the last few years, is paying off handsomely. And so, when we look at the number of referrals to doctors, many of them come from the patients now, and there are a number of social media channels that patients themselves are so enthusiastic, telling their stories. So in Europe, there is definitely also a renewed appreciation of the value of having a great patient satisfaction rate and an outstanding business model, where profitability per eye for the EVO lens is highest in the practice of refractive surgery. So with all of that great stuff going on, we expect more and better in the coming quarters.

All right, presenters, there seems to be no questions. I'll turn it over now to Ms. Caren Mason for closing remarks.

Well, thank you very much. We really appreciate participation on our call today. We look forward to speaking with many of you in the days and weeks ahead. We always appreciate your interest and investment in STAAR Surgical. So excited to deliver the great results we did today. Please take good care. All the best to all of you.

All right. This concludes today's conference call. Thank you for participating. You may now disconnect.