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), 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.
RxSight, Inc. (NASDAQ: RXST) will announce its Q1 2022 financial results on May 5, 2022, after market close. A conference call to discuss the results is scheduled for 1:30 PM PT / 4:30 PM ET the same day. Investors can access the call via the company's website or by phone. The company specializes in ophthalmic medical devices, particularly the Light Adjustable Lens (LAL), a unique intraocular lens technology that enhances post-cataract surgery vision. The LAL includes the new ActivShield™ technology for UV protection.
RxSight, Inc. (NASDAQ: RXST) announced that its Light Adjustable Lens (LAL) system will be featured in multiple presentations at the annual ASCRS meeting in Washington D.C. from April 22-26, 2022. Key presentations include studies on clinical outcomes, patient satisfaction, and visual acuities relative to LAL. The company highlights the revolutionary features of the LAL, including its ability to be optimized post-implantation, and the new ActivShield technology for UV protection. RxSight aims to enhance patient vision after cataract surgery and expand the revenue potential for medical practitioners.
RxSight, Inc. (NASDAQ: RXST), a medical device company focused on enhancing vision after cataract surgery, announced participation in the Needham Virtual Healthcare Conference. Management will present on April 11, 2022, at 12:45 PM PT / 3:45 PM ET. The presentation can be accessed live and archived via the company’s website. RxSight is known for its Light Adjustable Lens (LAL) system, the first IOL technology allowing doctors to customize visual acuity post-surgery, which now includes ActivShield™ technology for UV protection.
RxSight, Inc. (NASDAQ: RXST) reported significant financial growth for Q4 2021, achieving $8.4 million in revenue, a 71% increase year-over-year. The fiscal year 2021 revenue totaled $22.6 million, up 54% from 2020. The company sold 45 Light Delivery Devices and 2,959 Light Adjustable Lenses in Q4 alone. Despite this growth, operating expenses surged by 81% to $17.5 million, resulting in a net loss of $(15.7) million for Q4. Looking ahead, RxSight projects 2022 revenue between $40.0 million and $44.0 million.
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