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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) 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.
RxSight, Inc. (NASDAQ: RXST) announced it will release its financial results for the fourth quarter and fiscal year 2021 on March 8, 2022, after market close. A conference call with management will follow at 1:30 p.m. PT to discuss the results. The company specializes in ophthalmic medical devices aimed at enhancing post-cataract surgery vision through its innovative Light Adjustable Lens (LAL) system. This technology includes unique features like ActivShield™ for UV protection.
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.
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