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RxSight, Inc. (NASDAQ: RXST) is a leading commercial-stage medical technology company focused on improving patients' vision following cataract surgery. The company is renowned for its innovative Light Adjustable Lens® (LAL®) technology, which allows ophthalmologists to customize and optimize visual acuity for patients post-surgery. This proprietary technology is comprised of the RxSight Light Adjustable Lens®, the RxSight Light Delivery Device (LDD™), and accompanying accessories, making it the first and only commercially available intraocular lens (IOL) that can be adjusted after implantation. This adjustability provides unparalleled visual outcomes tailored to each patient's needs.
Headquartered in Aliso Viejo, California, RxSight operates in a single reportable segment focusing on research and development, manufacturing, and sales of its light adjustable lenses and related equipment. The company's commitment to enhancing visual quality extends beyond its products to its educational initiatives and partnerships with leading ophthalmologists. Notably, RxSight has presented its innovations and clinical findings at significant industry events like the American Academy of Ophthalmology (AAO) Annual Meeting and the annual meeting of the American Society of Cataract and Refractive Surgery (ASCRS).
Recent achievements include the launch of the LAL+™, a new addition to the Light Adjustable Lens family with a modified aspheric anterior surface designed to extend the depth of focus. The company has also introduced a reconfigured LDD™ to address global practice space constraints, without compromising functionality and outcomes.
Financially, RxSight has shown robust growth. For instance, in the third quarter of 2023, the company reported a 76% year-over-year revenue increase, with significant contributions from both LAL and LDD sales. The company has also successfully eliminated $40 million in debt, reducing annualized interest expenses significantly. As of May 2024, RxSight continues to expand its market presence, fueled by strong revenue growth and strategic public offerings aimed at supporting its commercial and international expansion efforts.
In summary, RxSight’s unique post-operative adjustability feature sets it apart in the premium IOL market, promising high-quality, personalized vision care, and demonstrating a commitment to technological innovation and patient-centric solutions.
RxSight reported strong Q3 2024 financial results with revenue of $35.3 million, up 59% year-over-year. The company sold 24,554 Light Adjustable Lenses (LAL™/LAL+™), an 80% increase, and 78 Light Delivery Devices (LDD™s), an 18% increase from Q3 2023. The installed base grew to 888 LDDs, up 51% year-over-year. Gross profit reached $25.2 million with a 71.4% margin. Despite operating expenses of $34.4 million, net loss improved to $(6.3) million. The company raised its 2024 full-year revenue guidance to $140 million, with improved gross margin guidance of 70-71% and lower operating expenses.
RxSight announced it will release its Q3 2024 financial results on November 7, 2024, after market close. The company will host a conference call at 1:30 PM PT / 4:30 PM ET to discuss the results. Interested parties can join via phone at (888) 596-4144 or (646) 968-2525 using conference code 7406253. A live webcast will be available in listen-only mode through the investor relations website, with a recording accessible afterward.
RxSight, Inc. (NASDAQ: RXST), an ophthalmic medical device company, has announced its participation in two upcoming healthcare conferences in September 2024. The company will be present at the Morgan Stanley 22nd Annual Global Healthcare Conference on September 4 at 9:15 a.m. ET in New York City, and the Wells Fargo 2024 Healthcare Conference on September 5 at 3:45 p.m. ET in Boston.
RxSight specializes in providing high-quality customized vision to patients following cataract surgery. Both conference appearances will feature fireside chats with company representatives. Interested parties can access live and archived webcasts of these events through the company's investor relations website at https://investors.rxsight.com/.
RxSight, Inc. (NASDAQ: RXST) reported strong financial results for Q2 2024. Revenue increased 68% to $34.9 million, driven by a 92% increase in Light Adjustable Lens (LAL) sales and 32% growth in Light Delivery Device (LDD) revenue. The company sold 24,214 LALs and 78 LDDs, expanding its installed base to 810 LDDs. Gross profit rose 102% to $24.3 million, with a margin of 69.5%. Despite higher operating expenses, the net loss narrowed to $(6.1) million, or $(0.16) per share. RxSight raised its 2024 guidance, projecting revenue of $139-140 million and operating expenses of $135-136 million. The company's cash position strengthened to $233.3 million, bolstered by a recent public offering.
RxSight, Inc. (NASDAQ: RXST), an ophthalmic medical device company, has announced it will release its second quarter 2024 financial results on August 5, 2024, after market close. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the results. Interested parties can register for the call, with a recommendation to join ten minutes early to ensure proper setup. A dial-in option will be available, and the call will be live-streamed and archived for one year on the company's investor relations website.
RxSight, a company specializing in ophthalmic medical devices, announced its participation in the Truist Securities Medtech Conference. The event will include a fireside chat with RxSight's management on June 18, 2024, at 12:05 p.m. Pacific Time / 3:05 p.m. Eastern Time. A live and archived webcast of the presentation will be available on their investor relations website.
RxSight, an ophthalmic medical device company, has successfully closed its public offering of 2,053,571 shares of common stock at $56.00 per share. This includes the full exercise of underwriters' option to purchase an additional 267,857 shares, generating gross proceeds of $115 million. The offering was managed by BofA Securities, J.P. Morgan, and BTIG, with BofA Securities acting as the lead bookrunning manager. The automatic shelf registration statement and the final prospectus supplement were filed with the SEC on May 8, 2024. The proceeds are expected to support RxSight’s ongoing business activities and growth strategies.
RxSight, Inc., a medical device company specializing in vision care post cataract surgery, announced the pricing of its public offering of common stock. The company plans to sell 1,785,714 shares at $56.00 per share, expecting gross proceeds of approximately $100.0 million. The offering is set to close around May 13, 2024, with plans to utilize the funds for commercial expansion, product development, research, and general corporate purposes.
RxSight, Inc. announced a proposed public offering of $100 million of its common stock, with an additional 15% option for underwriters. The company plans to use the proceeds for commercial expansion, product development, research, and working capital. BofA Securities, J.P. Morgan, and BTIG are involved in the offering. An automatic shelf registration statement was filed with the SEC. The offering will be made through a prospectus supplement and accompanying prospectus.
RxSight, Inc. reported strong first quarter 2024 financial results, with a revenue of $29.5 million, a 69% increase compared to the first quarter of 2023. The company sold 20,218 Light Adjustable Lenses (LAL) and 66 Light Delivery Devices (LDD), showing significant growth in procedure volume and unit sales. Gross profit increased to $20.7 million, operating expenses rose to $31.4 million, and the company reported a net loss of $(9.1) million. However, adjusted net loss improved to $(4.4) million. Cash, cash equivalents, and short-term investments were $125.4 million as of March 31, 2024. RxSight raised its 2024 revenue guidance to $132.0 million to $137.0 million, gross margin guidance to 68% to 70%, and operating expense guidance to $126.0 million to $130.0 million.
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