Core Insights - RxSight, Inc. reported a quarterly loss of $0.04 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.19, marking an earnings surprise of +78.95% [1] - The company generated revenues of $30.34 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 19.02%, although this represents a decline from $35.31 million in the same quarter last year [2] - RxSight shares have declined approximately 73.8% year-to-date, contrasting with a 15.1% gain in the S&P 500 [3] Earnings Outlook - The earnings outlook for RxSight is mixed, with the current consensus EPS estimate for the upcoming quarter at -$0.15 on revenues of $28.68 million, and -$0.56 on revenues of $125.7 million for the current fiscal year [7] - The company's Zacks Rank is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Medical - Instruments industry, to which RxSight belongs, is currently ranked in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - RxSight generated third-quarter revenue of $30.3 million, down 14% compared to $35.3 million in the year-ago quarter, and down 10% compared to $33.6 million in the second quarter of 2025 [8] - GAAP net loss in the third quarter of 2025 was $9.8 million, or a loss of $0.24 per share, compared to a GAAP net loss of $6.3 million, or $0.16 per share in the third quarter of 2024 [11] - Gross margin in the third quarter of 2025 was 79.9%, an increase from 71.4% in the year-ago period [9] Business Line Data and Key Metrics Changes - Sold 26,045 Light Adjustable Lenses (LALs), generating $25.7 million in LAL revenue, up 6% compared to the third quarter of 2024 [8] - Sold 25 Light Delivery Devices (LDDs) in the quarter, down 68% from 78 units in the prior year period [8] - LAL revenue represented 85% of total revenue in the third quarter, an increase from 69% in the third quarter of 2024 [8] Market Data and Key Metrics Changes - Approximately 1,100 LDDs are in the field, representing a 25% increase year-over-year [9] - More than 2,000 ophthalmologists implanted the LAL, representing roughly one-fifth of the estimated total number of U.S. cataract surgeons [4] Company Strategy and Development Direction - The company is focusing on strengthening commercial execution in the U.S. while laying groundwork for global growth, particularly in Asia and Europe [4][5] - New practice development and clinical engagement programs have been launched to optimize LAL workflow and enhance clinical confidence [4] - The company aims to strategically expand its base of LDDs and implanting surgeons while positioning customers for sustained growth [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in building a strong foundation for future growth despite challenges, including a decline in Medicare's physician fee for cataract surgery [16] - The company is narrowing its full-year 2025 revenue guidance to $125 million-$130 million, implying a year-over-year decline of 11%-7% [12] - Management anticipates continued interest in premium IOL options, particularly the LAL, as practices adapt to changing reimbursement rates [16] Other Important Information - SG&A expenses in the third quarter of 2025 were $27.3 million, a 7% increase year-over-year, primarily due to rising personnel costs [10] - R&D expenses rose 3% to $9.1 million compared to the third quarter of 2024 [10] Q&A Session Summary Question: What metrics will be used to evaluate the changes being implemented? - The key metric is the number of LAL procedures, along with the number of physicians implanting each quarter [20][21] Question: How will new entrants in the market impact demand for LAL? - Lower reimbursement for traditional cataract surgery is expected to be a tailwind for premium IOLs, with modest long-term impact from new entrants [22][23] Question: What is driving the increase in active surgeons? - The increase is attributed to new LDD sales and existing practices adopting LAL procedures [27][28] Question: What is the outlook for 2026? - While specific guidance for 2026 is not provided, management expects sequential growth in LAL procedures [36] Question: How does the company view the health of the underlying IOL market? - The premium segment is expected to remain strong, while the monofocal segment may be more affected by economic pressures [42] Question: What is the potential for LALs in post-refractive patients? - Post-refractive cases represent 10%-20% of the patient population, indicating a significant opportunity [52][54] Question: How does the company view its penetration in practices? - Some practices have already achieved standard of care with LALs, and the company aims to deepen its presence in existing accounts [57][58]

Sales Performance - The installed base of Light Delivery Devices (LDDs) reached 1,109 as of September 30, 2025, an increase from 888 at the same time in 2024, representing a growth of approximately 25%[107] - For the quarter ended September 30, 2025, the company sold 25 LDDs, a decrease of 53 units compared to the same period in 2024, indicating slower adoption of the RxSight technology[112] - LAL sales increased by 1,491 units year-over-year for the quarter ended September 30, 2025, totaling 26,045 units sold, primarily due to a larger LDD installed base[112] - Total sales for the three months ended September 30, 2025, were $30.34 million, a decrease from $35.31 million in the same period in 2024, reflecting a decline of approximately 14%[118] - Revenue from LALs for the three months ended September 30, 2025, was $25.69 million, compared to $24.23 million in 2024, marking an increase of about 6%[118] - Sales decreased by $5.0 million, or 14.1%, to $30.3 million for the three months ended September 30, 2025, primarily due to a 68% reduction in LDD sales[131] - For the nine months ended September 30, 2025, sales increased by $2.2 million, or 2.2%, to $101.9 million, driven by increased LAL sales[137] Financial Performance - The company expects to incur net losses and negative cash flows from operations in the near future due to increased costs associated with being a public company[110] - Net loss for the three months ended September 30, 2025, was $9.8 million, a 54.9% increase compared to the net loss of $6.3 million for the same period in 2024[131] - For the nine months ended September 30, 2025, net cash used in operating activities was $14.4 million, compared to $12.7 million for the same period in 2024, reflecting a net loss of $29.8 million in 2025 versus $21.5 million in 2024[150][151] - Net cash provided by financing activities for the nine months ended September 30, 2025, was $0.8 million, significantly lower than $120.3 million in 2024, which included proceeds from a public offering of $108.1 million[155][156] Cost and Expenses - SG&A expenses increased by $1.7 million, or 6.8%, to $27.3 million for the three months ended September 30, 2025, mainly due to increased selling and marketing costs[133] - Research and development expenses rose by $0.2 million, or 2.5%, to $9.0 million for the three months ended September 30, 2025, primarily due to increased overhead costs[134] - SG&A expenses for the nine months ended September 30, 2025, increased by $11.7 million, or 16.0%, to $85.0 million, largely due to higher selling and marketing costs[140] - Research and development expenses for the nine months ended September 30, 2025, increased by $4.5 million, or 17.8%, to $29.6 million, mainly due to increased personnel costs[141] Cash and Investments - As of September 30, 2025, the company had cash, cash equivalents, and short-term investments of $227.5 million, with an accumulated deficit of $651.9 million[144] - Net cash provided by investing activities for the nine months ended September 30, 2025, was $26.5 million, primarily from net maturities of short-term investments of $29.2 million, while in 2024, net cash used was $100.6 million due to net purchases of short-term investments of $96.0 million[153][154] - As of September 30, 2025, the company had cash and cash equivalents and short-term investments totaling $227.5 million, with $197.9 million in highly liquid money market and U.S. Treasury securities[165] Operational Strategy - The company plans to continue significant investments in sales, marketing, and research and development to drive adoption and enhance product offerings[110] - Research and development activities are focused on improving the RxSight system and expanding its indications, with potential future acquisitions to complement the product portfolio[109] - The company has integrated its clinical and sales teams into a unified Customer Success Organization to enhance customer experience and support long-term growth[108] - The company is focused on retaining current employees and hiring additional personnel, which may impact future operational capabilities[152] Market Conditions - The company is facing supply chain constraints and inflation, which may impact its ability to manufacture current and new products, potentially affecting financial condition and results of operations[162] - Uncertain macroeconomic conditions, including inflationary pressures and tariffs, may negatively impact the company's financial results and liquidity through 2025 and beyond[163] - The company does not have material exposure to changes in the fair value of cash and cash equivalents and short-term investments due to their short-term nature, with a hypothetical 1.00% change in interest rates not materially affecting interest income[165] - The company has de minimis amounts of revenue and expenses denominated in currencies other than U.S. dollars, indicating limited foreign currency exchange risk[166] - The gross margin is expected to fluctuate based on production volumes and manufacturing costs, with higher margins anticipated as LAL production increases[121] - Gross margin increased to 79.9% for the three months ended September 30, 2025, compared to 71.4% for the same period in 2024, driven by a higher percentage of revenue from LAL sales[132] - Gross margin for the nine months ended September 30, 2025, improved to 76.3% from 70.4% in the same period of 2024, attributed to a favorable product mix[138]

Core Insights - RxSight, Inc. reported a total revenue of $30.3 million for Q3 2025, a decrease of 14% compared to $35.3 million in Q3 2024, with a notable increase in Light Adjustable Lens (LAL) revenue by 6% and a significant decrease in Light Delivery Device (LDD) revenue by 69% [5][9] - The company experienced a net loss of $(9.8) million, or $(0.24) per share, compared to a net loss of $(6.3) million, or $(0.16) per share in the same quarter of the previous year [8][9] - Gross profit for Q3 2025 was $24.2 million, representing 80% of revenue, an increase from 71% in Q3 2024, primarily due to a favorable product mix shift towards LAL sales [6][9] Financial Highlights - Total revenue for Q3 2025 was $30.3 million, down 14% from $35.3 million in Q3 2024 [5][9] - Gross profit was $24.2 million, or 80% of revenue, compared to $25.2 million, or 71% of revenue in Q3 2024 [6][9] - Operating expenses increased by 6% to $36.4 million from $34.4 million in Q3 2024, reflecting ongoing investments in LAL sales and R&D [7][9] - The company reported an adjusted net loss of $(1.7) million, or $(0.04) per share, compared to an adjusted net gain of $0.2 million, or $0.01 per share in Q3 2024 [8][9] Strategic Highlights - The company noted a stabilization and recovery in procedure trends, with increased engagement from surgeons observed at major ophthalmic conferences [4] - RxSight has realigned its U.S. commercial organization to enhance customer relationships and drive growth in LAL procedures [9] - The company launched new practice development and clinical engagement programs aimed at sharing insights from over 250,000 LAL cases [9] Guidance - The company narrowed its full-year 2025 revenue guidance to a range of $125.0 million to $130.0 million, reflecting an implied decrease of 11% to 7% compared to 2024 [14] - Gross margin guidance was raised to a range of 76% to 77%, an increase from the previous range of 72% to 74% [14] - Operating expenses are projected to remain between $145.0 million and $155.0 million, indicating an implied increase of 7% to 14% compared to 2024 [14]

Core Viewpoint - RxSight, Inc. will report its financial results for Q3 2025 on November 5, 2025, with a conference call scheduled for 1:30 p.m. Pacific Time [1] Company Overview - RxSight, Inc. specializes in ophthalmic medical devices aimed at providing customized vision for patients post-cataract surgery [3] - The company offers the RxSight® Light Adjustable Lens system, which is the first and only commercially available intraocular lens technology that can be adjusted after surgery [3] - This technology allows doctors to tailor and enhance the quality of vision for patients following cataract procedures [3] Conference Call Details - The conference call to discuss the financial results can be accessed by dialing (800) 715-9871 or (646) 307-1963, with the conference code: 6619966 [2] - The call will also be available in listen-only mode via the company's investor relations website [2] - An archived recording of the call will be accessible shortly after its conclusion [2]

Core Insights - RxSight, Inc. will participate in the American Academy of Ophthalmology Annual Meeting (AAO 2025) with multiple Live Learning Sessions showcasing the Light Adjustable Lens technology [1][2] Company Overview - RxSight, Inc. specializes in ophthalmic medical devices aimed at providing customized vision solutions for patients post-cataract surgery [5] - The RxSight Light Adjustable Lens system is the first and only commercially available intraocular lens technology that can be adjusted after surgery, allowing for personalized vision correction [5] Live Learning Sessions Details - The sessions will feature insights from leading surgeons on the clinical advantages and economic impact of the Light Adjustable Lens [2] - A schedule of sessions includes topics such as ROI, career development, clinical confidence, and patient-centered outcomes, with various experts presenting on October 18 and 19 [3][4]

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against RxSight, Inc. following a class action lawsuit that alleges the company made false statements and failed to disclose significant issues affecting its sales and financial guidance [1][6]. Summary by Sections Company Overview - RxSight, Inc. is facing a class action lawsuit filed on July 22, 2025, with a class period from November 7, 2024, to July 8, 2025, concerning alleged breaches of fiduciary duties by its board of directors [1]. Allegations - The lawsuit claims that RxSight experienced "adoption challenges" and structural issues leading to declines in sales and utilization of its products [6]. - It is alleged that the company overstated the demand for its products and was unlikely to meet its previously issued financial guidance for fiscal year 2025 [6]. Financial Impact - On July 8, 2025, RxSight reported preliminary second-quarter financial results showing significant declines in Light Delivery Device (LDD) sales, LAL utilization, and overall revenue [6]. - The company lowered its full-year 2025 guidance by approximately $42.5 million at the midpoint, and the CEO attributed the sales stall to adoption challenges [6]. - Following this announcement, RxSight's stock price fell nearly 38% [6].

Core Viewpoint - A class action securities lawsuit has been filed against RxSight, Inc. alleging securities fraud affecting investors between May 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 defendants overstated the demand for RxSight's products [2] - The company is unlikely to meet its previously issued financial guidance for fiscal year 2025 due to 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 securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]

Core Viewpoint - RxSight, Inc. is under investigation for potential claims related to a federal securities class action, with a deadline for investors to seek lead plaintiff status set for September 22, 2025 [1] Group 1 - Faruqi & Faruqi, LLP, a prominent national securities law firm, is leading the investigation into RxSight, Inc. [1] - The investigation pertains to potential claims against RxSight, which trades on NASDAQ under the ticker RXST [1] - The firm has multiple offices across the United States, including locations in New York, Pennsylvania, California, and Georgia [1]

Core Viewpoint - A class action lawsuit has been filed against RxSight, Inc. for allegedly making false or misleading statements regarding its financial performance and product demand during the specified class period [7]. Allegation Details - The lawsuit claims that RxSight faced "adoption challenges" and structural issues leading to declines in sales and utilization [7]. - It is alleged that the company overstated the demand for its products and was unlikely to meet its previously issued financial guidance for fiscal year 2025 [7]. - Following the release of preliminary financial results on July 8, 2025, which showed significant declines in Light Delivery Device (LDD) sales and overall revenue, RxSight lowered its full-year guidance by approximately $42.5 million at the midpoint [7]. Financial Impact - The lawsuit indicates that RxSight's stock price fell nearly 38% after the announcement of disappointing financial results and guidance adjustments [7].