RxSight Inc

RXST

Equity

ISIN US78349D1072 / Valor 112649019

NASDAQ (2025-03-14)

USD 25.84+2.46%

RxSight Inc
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About company

RxSight Inc., based in Aliso Viejo, California, is a medical technology company specializing in ophthalmic solutions. The company has developed and commercialized the Light Adjustable Lens™ (LAL®/LAL+™), a unique intraocular lens that can be customized post-cataract surgery to optimize visual outcomes for patients. This innovation allows for precise adjustments to the lens after implantation, enhancing the cataract surgery experience. RxSight aims to transform the field of premium cataract surgery by enabling surgeons to tailor treatments to the specific needs of each patient's eye. The company leverages extensive industry experience and expertise in ophthalmology to advance its mission.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

In the third quarter of 2024, RxSight Inc. reported total revenue of $35.3 million, marking a significant increase of 59% compared to $22.2 million in the third quarter of 2023. This growth was primarily driven by a 79% increase in Light Adjustable Lens (LAL) revenue and a 28% increase in Light Delivery Device (LDD) revenue.

Gross Profit Improvement

RxSight Inc.'s gross profit for the third quarter of 2024 was $25.2 million, or 71.4% of revenue, which represents an increase of $11.5 million or 84% compared to the gross profit of $13.7 million, or 61.9% of revenue, in the third quarter of 2023. The improvement was attributed to a higher proportion of LAL sales, reduced cost of sales, and stable pricing for the company's capital equipment.

Operating Expenses

For the third quarter of 2024, RxSight Inc. reported total operating expenses of $34.4 million, a 31% increase from $26.2 million in the third quarter of 2023. This increase reflects the company's ongoing investments to expand its LDD installed base and support the growing volume of LAL sales while managing operating expenses.

Net Loss Reduction

RxSight Inc. reported a net loss of $(6.3) million, or $(0.16) per basic and diluted share, in the third quarter of 2024, compared to a net loss of $(12.4) million, or $(0.35) per basic and diluted share, in the third quarter of 2023. The adjusted net earnings for the third quarter of 2024 were $214 thousand, or $0.00 per diluted share, compared to an adjusted net loss of $(6.9) million, or $(0.19) per share, in the same period of the previous year.

2024 Financial Guidance

RxSight Inc. revised its 2024 full-year financial guidance, projecting revenue at the top of the previously provided range of $139.0 million to $140.0 million, representing approximately 57% growth compared to 2023. The company also adjusted its gross margin guidance to a range of 70% to 71% and lowered its operating expense guidance to the low end of the previously provided range of $135.0 to $136.0 million.

Summarized from source with an LLMView Source

Key figures

-44.1%1Y

125%3Y

%5Y

Performance

49.2%1Y

58.1%3Y

64.4%5Y

Volatility