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., an ophthalmic medical device company based in Aliso Viejo, California, has announced participation in the SVB Leerink Global Healthcare Conference. Management will join a fireside chat on February 17, 2022, at 12:40 PM PT / 3:40 PM ET. Interested audiences can access the live or archived webcast via the company's investor section. RxSight is recognized for its innovative Light Adjustable Lens system, which allows customization of visual acuity post-cataract surgery, now enhanced with ActivShield technology for UV protection.
RxSight, Inc. (NASDAQ: RXST) reported preliminary unaudited financial results for Q4 and the fiscal year 2021. Q4 revenue is expected to be about $8.4 million, up 71% year-over-year, driven by sales of 45 Light Delivery Devices (LDD™s) and 2,959 Light Adjustable Lenses (LAL®s). Fiscal year 2021 revenue is projected at $22.6 million, reflecting 54% growth. The installed base reached 206 LDDs. As of December 31, 2021, cash and equivalents totaled $159.3 million. The company anticipates continued growth in 2022, pending the completion of its audit.
On January 4, 2022, RxSight (NASDAQ: RXST) announced the appointment of Tamara R. Fountain, M.D. and Shweta Singh Maniar to its Board of Directors. The board chair, J. Andy Corley, highlighted their extensive healthcare leadership experience, which is expected to support the strategic growth of the company and enhance its Light Adjustable Lens system for post-cataract surgery patients. Dr. Fountain is a noted ophthalmologist and past president of the American Academy of Ophthalmology, while Ms. Maniar brings significant expertise from her roles at Google Cloud and Genentech.
RxSight, Inc. (NASDAQ: RXST), a leader in ophthalmic medical devices, will participate in the virtual J.P. Morgan Healthcare Conference on January 13, 2022, at 6:45 am PT / 9:45 am ET. This presentation will focus on their innovative Light Adjustable Lens system, which customizes visual acuity post-cataract surgery. Additionally, the lens now includes ActivShield technology for UV protection. Interested parties can access the live stream via the company’s website.
RxSight, Inc. (NASDAQ: RXST) has announced its participation in the virtual Ophthalmology Day at BTIG, scheduled for November 30, 2021, at 8:30 am PT / 11:30 am ET. The event will feature a fireside chat with the company’s management, and interested parties can access a live and archived webcast via the company’s website.
Specializing in ophthalmic medical devices, RxSight aims to enhance vision for cataract surgery patients with its innovative Light Adjustable Lens system, which includes ActivShield technology for UV protection.
RxSight, Inc. (NASDAQ: RXST) reported a strong third quarter in 2021, achieving revenue of $5.8 million, up 39% year-over-year and 18% sequentially. This growth was fueled by the sale of 31 Light Delivery Devices and 1,977 Light Adjustable Lenses. Gross profit increased to $1.3 million (23% of revenue), while operating expenses surged 50% to $14.5 million. The net loss for the quarter was $(12.7) million or $(0.68) per share. The company forecasts full-year 2021 revenue between $21.0 million and $21.4 million.
RxSight, Inc. announced it will report its third-quarter financial results on November 10, 2021, after market close. The management will discuss the results in a conference call scheduled for 1:30 p.m. PT / 4:30 p.m. ET. Investors can access the call via live webcast or by phone. RxSight focuses on innovative ophthalmic devices, specifically the Light Adjustable Lens system, which enhances visual acuity after cataract surgery. The product features ActivShield technology for UV protection.
RxSight, Inc. reported a strong second quarter in 2021 with revenues of $4.9 million, an 81% increase compared to the same period last year. Key drivers included the sale of 25 Light Delivery Devices and 1,825 Light Adjustable Lenses. The company received FDA approval for its updated Light Adjustable Lens with ActivShield technology, enhancing patient compliance. Operating expenses rose 57% to $13.1 million, primarily due to increased staffing. The net loss narrowed to $(13.5) million, compared to $(17.0) million in Q2 2020. Cash on hand was $61.7 million as of June 30, 2021.
RxSight, Inc. (NASDAQ: RXST) has rescheduled its second quarter 2021 financial results announcement to September 9, 2021, after market close, in respect of the Rosh Hashanah holiday. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET that same day, open to investors via a live and archived webcast. RxSight specializes in ophthalmic devices, offering the first customizable intraocular lens technology aimed at enhancing post-cataract surgery visual acuity, now featuring ActivShield™ technology for added UV protection.
RxSight, Inc. (NASDAQ: RXST) will participate in the virtual Wells Fargo Healthcare Conference on September 10, 2021, at 12:00 PM ET. Investors can access a live and archived webcast via the Investors section of the company's website. RxSight focuses on enhancing patients' vision post-cataract surgery with its Light Adjustable Lens system, the first of its kind that allows customization for improved visual acuity. The system now includes ActivShield technology for UV protection, further innovating ophthalmic treatments.
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