NEW YORK, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in RxSight, Inc. ("RxSight, Inc." or the "Company") (NASDAQ: RXST) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of RxSight, Inc. investors who were adversely affected by alleged securities fraud between November 7, 2024 and July 8, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/rxsight-inc-lawsuit- ...

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of RxSight, Inc. regarding a class action lawsuit due to alleged misleading statements and undisclosed issues affecting the company's performance during a specified class period [1][2]. Summary by Relevant Sections Allegations - The complaint alleges that during the class period from November 7, 2024, to July 8, 2025, RxSight faced "adoption challenges" and structural issues leading to declines in sales and utilization [1]. - It is claimed that the defendants overstated the demand for RxSight's products [1]. - As a result of these issues, RxSight is unlikely to meet its previously issued financial guidance for fiscal year 2025 [1]. - The positive statements made by the defendants regarding the company's business and prospects were materially misleading and lacked a reasonable basis [1]. Class Action Details - Shareholders who purchased shares of RXST during the specified class period are encouraged to register for the class action, with a deadline of September 22, 2025, to seek lead plaintiff status [2]. - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].

Core Viewpoint - A shareholder has filed a securities class action lawsuit against RxSight, Inc. for allegedly overstating product demand and failing to disclose sales declines due to adoption challenges and structural issues [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit is on behalf of investors who purchased or acquired RxSight securities between November 7, 2024, and July 8, 2025 [1]. - Defendants are accused of misrepresenting the demand for RxSight's products and not revealing significant challenges affecting sales [3]. Legal Process - Investors wishing to serve as lead plaintiffs must file necessary documents by September 22, 2025 [4]. - Participation in the lawsuit does not require serving as a lead plaintiff, and all representation is on a contingency fee basis, meaning shareholders incur no fees or expenses [4]. Firm Background - Bernstein Liebhard LLP has recovered over $3.5 billion for clients since 1993 and has a strong track record in class action litigation [5].

Core Viewpoint - A lawsuit has been filed against RxSight, Inc. and its senior executives for potential violations of federal securities laws, with claims related to undisclosed challenges in product adoption and a significant decline in stock value following revenue forecast cuts [1][2][4][5][6]. Group 1: Company Overview - RxSight, Inc. specializes in manufacturing light adjustable intraocular lenses for cataract surgery, with its primary product being the Light Adjustable Lens (LAL) that can be customized post-surgery through non-invasive light treatments [3]. Group 2: Legal Issues - The lawsuit claims violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, representing investors who purchased RxSight securities [2]. - The company allegedly failed to disclose "adoption challenges" for its products, which contributed to a slowdown in LAL utilization first noted in 2024 [4]. Group 3: Stock Performance - On April 3, 2025, RxSight cut its 2025 full-year revenue forecast, leading to a stock price drop of approximately 38%, from $26.12 to $16.21 per share [5]. - A further revenue forecast cut on July 8, 2025, resulted in another 38% decline in stock price, from $12.79 to $7.95 per share [6].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against RxSight, Inc. due to allegations of false and misleading statements regarding the company's performance and financial guidance, particularly following a significant drop in stock price after disappointing financial results [2][4][5]. Group 1: Company Performance and Allegations - The complaint against RxSight alleges that the company and its executives violated federal securities laws by failing to disclose "adoption challenges" and structural issues that led to declines in sales and utilization [4]. - RxSight overstated the demand for its products, which resulted in the company being unlikely to meet its previously issued financial guidance for fiscal year 2025 [4]. - Following the release of preliminary second quarter 2025 financial results, RxSight reported significant declines in LDD sales, LAL utilization, and overall revenue, leading to a lowered full year 2025 guidance by approximately $42.5 million at the midpoint [5]. Group 2: Stock Market Reaction - On July 9, 2025, RxSight's stock price fell by $4.84, or 37.8%, closing at $7.95 per share, following the announcement of disappointing financial results and guidance [5]. Group 3: Legal Proceedings - Investors who purchased or acquired securities in RxSight between November 7, 2024, and July 8, 2025, are encouraged to discuss their legal rights and options, with a deadline of September 22, 2025, to seek the role of lead plaintiff in a federal securities class action [2][6].

Core Viewpoint - A lawsuit has been filed against RxSight, Inc. and its senior executives for potential violations of federal securities laws, with claims related to undisclosed challenges in product adoption and a significant decline in stock value following revenue forecast cuts [1][2][4][5][6]. Company Overview - RxSight, Inc. specializes in manufacturing light adjustable intraocular lenses for cataract surgery, with its primary product being the Light Adjustable Lens (LAL) that can be customized post-surgery through non-invasive light treatments [3]. Legal Proceedings - Investors have until September 22, 2025, to request to lead the case, which is currently pending in the U.S. District Court for the Central District of California under the caption Makaveev v. RxSight, Inc., et al. [2]. Financial Performance - The company experienced a slowdown in LAL utilization, first noted in 2024, which was not disclosed to investors despite claims of strong sales [4]. - On April 3, 2025, RxSight cut its 2025 full-year revenue forecast, leading to a stock price drop of approximately 38%, from $26.12 to $16.21 per share [5]. - A further revenue forecast cut on July 8, 2025, attributed to slower LAL utilization and adoption challenges, resulted in another 38% decline in stock price, from $12.79 to $7.95 per share [6].

Core Viewpoint - A class action securities lawsuit has been filed against RxSight, Inc. due to alleged securities fraud affecting investors between November 7, 2024, and July 8, 2025 [1][2] Group 1: Allegations - The lawsuit claims that RxSight, Inc. faced "adoption challenges" and structural issues leading to declines in sales and utilization [2] - It is alleged that the demand for RxSight's products was overstated by the defendants [2] - The company is unlikely to meet its previously issued financial guidance for fiscal year 2025 as a result of these issues [2] - Positive statements made by the defendants regarding the company's business and prospects were materially misleading and lacked a reasonable basis [2] Group 2: Legal Process - Investors who suffered losses during the specified timeframe have until September 22, 2025, to request to be appointed as lead plaintiff [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3] Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securing compensation for shareholders and has been recognized as one of the top securities litigation firms in the United States [4]

Summary of Key Points Core Viewpoint - RxSight, Inc. reported a quarterly loss of $0.08 per share, which was better than the Zacks Consensus Estimate of a loss of $0.10, marking an earnings surprise of +20.00% [1] - The company has shown mixed performance in terms of revenue and earnings estimates over the past year, with a significant decline in stock price [3][4] Financial Performance - For the quarter ended June 2025, RxSight posted revenues of $33.64 million, slightly surpassing the Zacks Consensus Estimate by 0.11%, but down from $34.89 million a year ago [2] - Over the last four quarters, the company has exceeded consensus revenue estimates four times [2] Stock Performance and Outlook - RxSight shares have decreased approximately 78% since the beginning of the year, contrasting with the S&P 500's gain of 7.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.20 on revenues of $29.04 million, and for the current fiscal year, it is -$0.49 on revenues of $126.63 million [7] Industry Context - The Medical - Instruments industry, to which RxSight belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of RxSight's stock may be influenced by the overall outlook of the industry [8]

Financial Data and Key Metrics Changes - RxSight reported Q2 2025 revenue of $33.6 million, down 4% year-over-year from $34.9 million and down 11% from $37.9 million in Q1 2025 [9] - The company sold 27,380 LALs, generating $27 million in LAL revenue, which is up 13% compared to Q2 2024 but down 1% from Q1 2025 [9] - LAL revenue represented 80% of total revenue in Q2 2025, an increase from 68% in Q2 2024 and 72% in Q1 2025 [9] - LDD sales decreased significantly, with only 40 units sold, down 49% from 78 units in the prior year and down 45% from 73 units in Q1 2025 [10] - Gross margin improved to 74.9% in Q2 2025, compared to 69.5% in the prior year and 74.8% in Q1 2025, primarily due to a higher proportion of LAL revenue [10] Business Line Data and Key Metrics Changes - LAL revenue increased to $27 million, while LDD revenue fell to $5.1 million, down 50% year-over-year [10] - The installed base of LDD units reached 1,084, representing a 34% increase year-over-year and a 4% increase quarter-over-quarter [10] Market Data and Key Metrics Changes - The company is focusing on enhancing customer engagement and support to drive adoption in the premium IOL market, which is expected to grow despite recent challenges [15][17] - Regulatory approvals in key European and Asian markets are seen as opportunities for future growth, with South Korea already launched and positive reception noted [39][41] Company Strategy and Development Direction - The company has unified its LAL sales and clinical support into a single customer success organization to enhance customer experience and drive long-term growth [5][6] - A new commercial strategy aims to maximize utilization by improving customer engagement and support, with a focus on both existing and new accounts [15] - The company is also pursuing innovation and global expansion, with plans to refine postoperative workflows and enhance platform capabilities [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a slowdown in LAL adoption and fewer expected new LDD sales, leading to a cautious outlook for the second half of 2025 [13] - The company reiterated its full-year guidance for revenue between $120 million and $130 million, reflecting a decrease from 2024 [13] - Management expressed confidence in leveraging the existing installed base for growth despite market challenges [28] Other Important Information - The company ended Q2 2025 with cash and short-term investments of $227.5 million, a decrease of approximately $1.8 million from the previous quarter [12] - Operating expenses are projected to increase by 7% to 14% over 2024, with a focus on managing costs while supporting long-term growth [14] Q&A Session Summary Question: Trends exiting Q2 and into Q3 - Management noted that they are still early in Q3 and are aware of the trends from Q2, but did not provide specific guidance on revenue models [21][22] Question: Confidence in market slowdown vs. company performance - Management clarified that while the market is generally positive, recent challenges are not solely attributed to market conditions but also to internal execution [26][28] Question: Pathway to cash flow breakeven - Management indicated that while cash flow breakeven was previously achieved, recent revenue reductions may delay this target [30][32] Question: International market path forward - Management discussed ongoing regulatory approvals in Europe and Asia, emphasizing the long-term potential of these markets despite longer timelines for revenue contributions [35][39] Question: Guidance assumptions for revenue - Management explained that lower LDD sales could drive revenue to the lower end of guidance, while fourth-quarter seasonality could push it to the higher end [43][47]

Core Points - The Gross Law Firm has issued a notice to shareholders of RxSight, Inc. regarding potential lead plaintiff appointments for a class action lawsuit [1] - The class period for the lawsuit is from November 7, 2024, to July 8, 2025, during which the company allegedly made materially false and misleading statements [3] - Allegations include that RxSight faced "adoption challenges" and structural issues leading to declines in sales and utilization, overstated product demand, and an inability to meet previously issued financial guidance for fiscal year 2025 [3] Summary by Sections Class Action Details - Shareholders who purchased shares during the specified class period are encouraged to contact the Gross Law Firm for potential lead plaintiff appointment [1] - The deadline for shareholders to register for the class action is September 22, 2025 [4] Allegations Against RxSight - The complaint alleges that RxSight's management failed to disclose significant challenges affecting sales and utilization [3] - It is claimed that the company overstated the demand for its products, leading to misleading positive statements about its business prospects [3] Next Steps for Shareholders - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [4] - Participation in the case incurs no cost or obligation for shareholders [4]