Welcome to our dedicated page for RxSight news (Ticker: RXST), a resource for investors and traders seeking the latest updates and insights on RxSight stock.
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, Inc. (NASDAQ: RXST) reported robust financial growth in its fourth quarter and full year 2022 results. Fourth quarter revenue reached $16.1 million, marking a 91% increase from 2021, driven by a 27% rise in Light Delivery Devices (LDDs) sold and a remarkable 208% jump in Light Adjustable Lenses (LALs). Full year revenue was $49.0 million, up 117% from 2021. The company anticipates 2023 revenue between $78.0 million and $83.0 million, signaling potential growth of 59% to 69%. Despite a net loss of $(66.8) million for 2022, the gross profit margin improved to 43.5%.
RxSight, Inc. is set to participate in the upcoming Oppenheimer Healthcare Conference on March 13, 2023, at 7:00 a.m. PT / 10:00 a.m. ET. The company specializes in ophthalmic medical devices focused on providing customized vision solutions following cataract surgery. Their innovative RxSight® Light Adjustable Lens (LAL®) system is the first intraocular lens technology allowing post-surgery adjustments to enhance patient vision quality. Interested parties can access a live and archived webcast of the presentation through their investor relations website.
RxSight, Inc. (NASDAQ: RXST) announced it will release its fourth quarter and fiscal year 2022 financial results on March 6, 2023, following market close. Management will hold a conference call at 1:30 p.m. PT to discuss the results. Interested participants can register for the call and access the live webcast on the company’s investor relations page.
RxSight specializes in ophthalmic medical devices and offers the innovative RxSight Light Adjustable Lens system, the first adjustable intraocular lens technology, enhancing patient vision post cataract surgery.
RxSight, Inc. announced the successful closing of its public offering of common stock, selling 4,600,000 shares at $12.50 each, generating approximately $53.7 million in net proceeds after expenses. The offering included the full exercise of the underwriters' option to purchase an additional 600,000 shares. BofA Securities served as the sole bookrunning manager. This follows a previously filed shelf registration statement with the SEC on August 8, 2022. RxSight is focused on enhancing post-cataract surgery vision through its innovative Light Adjustable Lens technology.
RxSight, Inc. (NASDAQ: RXST) has announced a priced public offering of 4,000,000 shares of common stock at $12.50 each, aiming to raise approximately $50 million. The company has also granted underwriters a 30-day option to purchase an additional 600,000 shares. Proceeds will be directed towards commercial and marketing expansion, product development, research, and working capital needs. The offering is expected to close around February 10, 2023, subject to customary conditions. BofA Securities serves as the sole bookrunning manager for this public offering.
RxSight, Inc. (NASDAQ: RXST) announced plans for a public offering of $40 million in common stock. The company may grant underwriters a 30-day option to purchase an additional 15% of shares. Proceeds will fund commercial and marketing expansion, product development, and working capital. The offering will occur under a previously filed shelf registration statement. However, completion of the offering is subject to market conditions and cannot be guaranteed.
RxSight is focused on enhancing post-cataract surgery vision with its Light Adjustable Lens system, which allows customization of visual acuity.
RxSight, Inc. (NASDAQ: RXST) reported preliminary unaudited financial results for Q4 and full-year 2022. Q4 revenue is projected at $16.1 million, a 91% increase year-over-year, driven by sales of 57 Light Delivery Devices (LDDs) and 9,123 Light Adjustable Lenses (LALs). For the full year, revenue is expected to be $49.0 million, marking a 117% growth. The company's cash and equivalents were about $105.8 million at year-end. The final audited results will be announced in early March 2023.
RxSight, Inc. (NASDAQ: RXST) has announced its participation in the J.P. Morgan Healthcare Conference, scheduled for January 11, 2023, at 11:15 a.m. PT. This event focuses on enhancing vision for cataract surgery patients through innovative technologies. RxSight's Light Adjustable Lens system is the first customizable intraocular lens technology aimed at optimizing post-surgery visual acuity. Interested parties can access the live and archived webcast via this link.
RxSight, Inc. reported Q3 2022 revenue of $12.6 million, marking a 118% increase year-over-year. Key drivers included 49 Light Delivery Devices sold, a 58% unit increase, and 6,595 Light Adjustable Lenses, up 234% in procedures. The company raised its full-year revenue guidance to $47.0 million - $48.0 million, indicating a growth of 108% - 112%. However, operational costs rose by 47.5%, leading to a net loss of $(16.8) million.
RxSight, Inc. (NASDAQ: RXST), an ophthalmic medical device company, will announce its third quarter 2022 financial results on November 7, 2022, after market close. Management will host a conference call at 1:30 p.m. PT to discuss the results. The company is known for its innovative RxSight Light Adjustable Lens system that allows customization of visual acuity post-cataract surgery. This advanced technology is the first of its kind in the intraocular lens market.
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