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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, 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.
RxSight, Inc. (NASDAQ: RXST), a medical device company focused on enhancing vision post-cataract surgery, will participate in the Wells Fargo Healthcare Conference on September 8, 2022, at 8:35 a.m. PT / 11:35 a.m. ET. The event will feature a fireside chat with management, and interested parties can access a live and archived webcast through their investor relations website.
RxSight specializes in innovative lens technology, including the RxSight Light Adjustable Lens system, which allows doctors to tailor visual acuity for patients after cataract procedures.
RxSight, Inc. (NASDAQ: RXST) has filed a $200 million shelf registration statement with the SEC, allowing it to sell various securities including common and preferred stock. This strategy aims to provide flexibility in accessing capital under favorable market conditions. Specifically, the company also intends to offer up to $50 million of common stock through an at-the-market (ATM) offering, managed by BofA Securities. The registration is pending effectiveness, and the company emphasizes the importance of reviewing the prospectus for potential investment risks.
RxSight, Inc. reported significant financial growth for Q2 2022, with revenues of $11.4 million, marking a 132% increase year-over-year. The company's sales included 49 Light Delivery Devices (LDDs), a 96% increase, and 5,400 Light Adjustable Lenses (LALs), representing a 196% rise in procedures. Full-year revenue guidance is now set at $44.0 to $46.0 million, indicating a growth rate of 95% to 104% compared to 2021. Despite a net loss of $(16.7) million, the company is seeing robust demand for its products.
RxSight, Inc. (NASDAQ: RXST) will report its Q2 2022 financial results on August 8, 2022, after market close. A conference call is scheduled for 1:30 PM PT / 4:30 PM ET to discuss these results. Interested parties can access a live and archived webcast via the Investors page on RxSight's website. The company is focused on improving post-cataract surgery vision with its unique RxSight Light Adjustable Lens system, which includes advanced ActivShield technology. More details are available on their website.
RxSight, Inc. (NASDAQ: RXST) reported strong financial results for Q1 2022, achieving $8.9 million in revenue, a 157% increase from Q1 2021. Key drivers included a sale of 40 Light Delivery Devices (LDDs) and 4,166 Light Adjustable Lenses (LALs), marking growth of 208% and 166% in volume, respectively. Gross profit also surged to $3.7 million (42% of revenue). However, operating expenses rose 66% to $20.3 million, resulting in a net loss of $17.6 million. The company has revised its 2022 revenue guidance upward to $41.5 million to $45.5 million.
RxSight, a medical device company focused on ophthalmic solutions, will present at the Bank of America Healthcare Conference on May 10, 2022, at 12:00 PM PT. This event will showcase the company's innovative RxSight Light Adjustable Lens system, which allows for customized visual acuity post-cataract surgery. The system now includes ActivShield technology for added UV protection. A live and archived webcast of the presentation will be available on their website under the 'Investors' section.
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