PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) RxSight, Inc.'s Q2 2023 unaudited financials show strong revenue growth, improved gross margins, and a strengthened balance sheet [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance sheet as of June 30, 2023, shows stronger financial position with increased assets, equity, and reduced liabilities | Balance Sheet Items (In thousands) | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $8,753 | $11,834 | | Short-term investments | $138,340 | $93,968 | | Total current assets | $180,445 | $134,555 | | Total assets | $195,261 | $150,164 | | **Liabilities & Equity** | | | | Total current liabilities | $16,565 | $17,237 | | Term loan, net | $19,589 | $40,169 | | Total liabilities | $38,073 | $60,262 | | Total stockholders' equity | $157,188 | $89,902 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company achieved strong sales growth and expanded gross margins for Q2 and H1 2023, reducing operating and net losses | Statement of Operations (In thousands) | Q2 2023 | Q2 2022 | YoY Change | | :--- | :--- | :--- | :--- | | Sales | $20,810 | $11,360 | +83.2% | | Gross Profit | $12,015 | $4,788 | +150.9% | | Loss from operations | $(13,625) | $(15,792) | -13.7% | | Net loss | $(13,804) | $(16,732) | -17.5% | | Net loss per share (basic & diluted) | $(0.40) | $(0.61) | -34.4% | | Statement of Operations (In thousands) | H1 2023 | H1 2022 | YoY Change | | :--- | :--- | :--- | :--- | | Sales | $38,299 | $20,301 | +88.7% | | Gross Profit | $22,380 | $8,549 | +161.8% | | Loss from operations | $(26,720) | $(32,370) | -17.5% | | Net loss | $(27,016) | $(34,328) | -21.3% | | Net loss per share (basic & diluted) | $(0.82) | $(1.25) | -34.4% | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations decreased in H1 2023, with significant financing activities offsetting investing outflows | Cash Flow Summary (In thousands) | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(25,310) | $(29,808) | | Net cash (used in) provided by investing activities | $(43,970) | $28,985 | | Net cash provided by financing activities | $66,196 | $480 | | Net decrease in cash, cash equivalents and restricted cash | $(3,081) | $(357) | - Financing activities in H1 2023 were primarily driven by **$54.1 million** from a public offering and **$30.5 million** from at-the-market offerings, offset by a net **$20.0 million** repayment of the term loan[31](index=31&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's LAL and LDD business, significant capital raises, debt refinancing, and revenue recognition policies - The company raised approximately **$53.6 million** in net proceeds from a Public Offering in February 2023[40](index=40&type=chunk) - Through its At-The-Market (ATM) offering, the company sold **1.7 million shares** for net proceeds of **$29.9 million** during the six months ended June 30, 2023[39](index=39&type=chunk) - On June 30, 2023, the company entered into a new **$20.0 million** loan agreement and used the proceeds, along with other cash, to prepay its existing May 2022 Term Loan, subsequently repaying the new loan in full on August 4, 2023[88](index=88&type=chunk)[89](index=89&type=chunk)[128](index=128&type=chunk) | Revenue by Product (In thousands) | Q2 2023 | Q2 2022 | H1 2023 | H1 2022 | | :--- | :--- | :--- | :--- | :--- | | LDD (including training) | $7,720 | $5,683 | $14,195 | $10,253 | | LAL | $12,411 | $5,349 | $22,806 | $9,453 | | Service, warranty, accessories | $679 | $328 | $1,298 | $595 | | **Total** | **$20,810** | **$11,360** | **$38,299** | **$20,301** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q2 2023 performance to its 'razor and razor blade' model, driving LDD and LAL sales, improving margins, and strengthening liquidity [Business Overview and Key Metrics](index=29&type=section&id=Business%20Overview%20and%20Key%20Metrics) The company's 'razor and razor blade' model drives LDD adoption and LAL sales, with key metrics showing strong growth - The company's commercial strategy is a "razor and razor blade" business model focused on driving new customer adoption of the LDD system to generate ongoing LAL volume growth[135](index=135&type=chunk) | Key Metrics | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | LDDs Sold | 67 | 49 | | LDD Installed Base (End of Period) | 523 | 294 | | LALs Sold | 12,622 | 5,400 | [Results of Operations](index=33&type=section&id=Results%20of%20Operations) The company achieved significant year-over-year improvements in Q2 and H1 2023, with robust sales growth, expanded gross margins, and reduced operating loss | Financial Highlights (In thousands) | Q2 2023 | Q2 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Sales | $20,810 | $11,360 | 83.2% | | Gross Profit | $12,015 | $4,788 | 150.9% | | Gross Margin | 57.7% | 42.2% | +15.5 pts | | Loss from Operations | $(13,625) | $(15,792) | (13.7)% | | Financial Highlights (In thousands) | H1 2023 | H1 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Sales | $38,299 | $20,301 | 88.7% | | Gross Profit | $22,380 | $8,549 | 161.8% | | Gross Margin | 58.4% | 42.1% | +16.3 pts | | Loss from Operations | $(26,720) | $(32,370) | (17.5)% | - The increase in sales for Q2 2023 was driven by incremental sales of **7,222 LALs** and **18 LDDs** due to strong adoption of the RxSight technology[159](index=159&type=chunk) - SG&A expenses increased by **26.8%** in Q2 2023, primarily due to higher headcount, sales commissions, and marketing costs to support growth[161](index=161&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, the company maintained strong liquidity, bolstered by equity offerings and debt prepayment, with sufficient capital for operations - As of June 30, 2023, the company had cash, cash equivalents, and short-term investments of **$147.1 million**[173](index=173&type=chunk) - The company raised net proceeds of approximately **$53.6 million** from a public offering in February 2023 and has utilized an ATM facility, which was fully drawn down for gross proceeds of **$50.0 million** as of the report date[175](index=175&type=chunk)[177](index=177&type=chunk) - On August 4, 2023, the company prepaid its Term A Loans in full, including accrued interest and fees, using cash from the ATM facility and cash reserves[180](index=180&type=chunk) - Management does not anticipate the need to raise additional capital or incur additional debt in order to reach profit from operations[184](index=184&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, RxSight, Inc. is exempt from providing disclosures on market risk - The company is not required to provide this disclosure as it qualifies as a smaller reporting company[204](index=204&type=chunk) [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of June 30, 2023, with no material changes in internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2023[205](index=205&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended June 30, 2023, that have materially affected, or are reasonably likely to materially affect, internal controls[206](index=206&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings expected to materially affect its business or financial condition - The company is not currently a party to any legal proceedings that would individually or in the aggregate have a material adverse effect on its business[209](index=209&type=chunk) [Item 1A. Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks from limited operating history, RxSight system reliance, competition, supply chain, IP, regulations, and increased compliance costs - **Business Risks:** The company has a limited operating history, a history of net losses, and its success depends heavily on the RxSight system, facing significant competition and global economic conditions[216](index=216&type=chunk)[221](index=221&type=chunk)[233](index=233&type=chunk) - **Third-Party Reliance:** The company depends on third-party, including single and sole source suppliers, for components of the RxSight system, making it vulnerable to supply disruptions and price fluctuations[215](index=215&type=chunk)[450](index=450&type=chunk) - **Regulatory Risks:** The business is subject to extensive government regulation by the FDA and other bodies, where failure to obtain or maintain regulatory clearances, or potential product recalls, could harm commercial operations[214](index=214&type=chunk)[363](index=363&type=chunk)[389](index=389&type=chunk) - **Intellectual Property Risks:** The company's ability to compete depends on its ability to obtain, maintain, and enforce patent and other intellectual property protection for its technology and products[213](index=213&type=chunk)[297](index=297&type=chunk) - As of December 31, 2023, the company will be considered a "large accelerated filer" and will cease to be an "emerging growth company," which will result in the loss of certain reduced reporting requirements and increased compliance costs[468](index=468&type=chunk)[471](index=471&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=100&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered equity sales, no use of registered proceeds, and no issuer purchases during the period - The company reports no unregistered sales of equity securities during the period[501](index=501&type=chunk) [Item 5. Other Information](index=101&type=section&id=Item%205.%20Other%20Information) On August 4, 2023, the company fully prepaid its June 2023 loan with Oxford, primarily using cash from its ATM offering - On August 4, 2023, the Company prepaid all outstanding loans under its June 2023 LSA with Oxford, using cash primarily raised from its ATM Facility[503](index=503&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40690 RxSIGHT, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 94-3268801 (State or other jurisdiction of in ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR For the transition period from to Commission File Number 001-40690 RxSight, Inc. (Exact name of registrant as specified in its charter) | Delaware | 94-3268801 | | --- | --- | | (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40690 RxSIGHT, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 94-3268801 (State or other jurisdiction of inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40690 RxSIGHT, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 94-3268801 (State or other jurisdiction of in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) Securities registered pursuant to Section 12(b) of the Act: | | Trading | | | --- | --- | --- | | Title of each class | Symbol(s) | Name of each exchange on which registered | | Common stock, $0.001 par value per share | RXST | The Nasdaq Stock Market LLC | Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40690 RxSIGHT, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 94-3268801 (State or other jurisdiction o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40690 RxSIGHT, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 94-3268801 (State or other jurisdiction of inc ...