Financial Data and Key Metrics - Revenue for Q4 2023 was $28.6 million, up 78% YoY [143] - LAL revenue in Q4 2023 was $17.8 million, up 98% YoY, representing 62% of total revenue [7][144] - LDD revenue in Q4 2023 was $10 million, up 52% YoY [133] - Gross profit margin expanded to 62% in Q4 2023, compared to 46% in Q4 2022 [32] - Full-year 2023 revenue grew 82% to $89.1 million, with LDD revenue up 43% and LAL revenue up 117% [33] - Adjusted cash use from operations was $33.9 million in 2023, down from $59.5 million in 2022 [34] - Net loss in Q4 2023 was $9.2 million, or $0.26 per share, compared to a net loss of $15.6 million in Q4 2022 [8][145] Business Line Data and Key Metrics - LAL sales in Q4 2023 were 18,071 units, up 98% YoY [7] - LDD unit placements in Q4 2023 were 77 units, up 35% YoY, with an installed base of 666 units at year-end 2023, up 67% YoY [133] - LAL Plus, a new product, is expected to drive further adoption of adjustable IOL technology [142][119] Market Data and Key Metrics - Premium cataract surgery represents about 20% of the US market and 10% globally, with projections to double over the next 10 years [141] - The company targets the roughly 4,000 US cataract surgeons who perform 70-80% of all premium IOL procedures [131] - International markets, particularly Canada, are showing steady growth, though they remain a small portion of total revenue [97][158] Company Strategy and Industry Competition - The company focuses on expanding its installed base of LDDs and increasing LAL procedure volumes, leveraging the clinical and economic benefits of its technology [31][132] - The LAL platform offers superior vision quality compared to traditional monofocal IOLs, with 90% of patients achieving 20/20 vision at distance and J2 at near [64][108] - The company expects to achieve cash flow break-even with a healthy balance sheet, supported by reduced cash use in 2024 [45] Management Commentary on Operating Environment and Future Outlook - Management highlighted the growing recognition of the clinical and economic benefits of the RxSight system among surgeons [31] - The company expects full-year 2024 revenue to be in the range of $128-135 million, implying 44-52% YoY growth [136] - Gross margin is expected to expand to 65-67% in 2024, driven by higher LAL revenue mix and lower LDD manufacturing costs [147] - Operating expenses are projected to increase by 20-23% in 2024, reflecting investments in infrastructure to support LAL procedure growth [35] Other Important Information - The company will host an investor event on April 6, 2024, in conjunction with the ASCRS meeting [11] - The company has no material weaknesses or significant deficiencies in its SOX compliance, underscoring its commitment to financial integrity [34] Q&A Session Summary Question: How is the company thinking about LDD utilization in 2024? [47] - The company expects LAL revenue to grow faster than LDD revenue, consistent with the razor-blade model [14] - Utilization may vary due to seasonality, but the goal is to increase overall LAL procedure volumes [156] Question: What is the company's outlook on cash usage and cash flow break-even? [19] - The company expects to reduce cash use throughout 2024, with the heaviest cash use in Q1 due to year-end bonuses and material payments [45] - The company has adequate cash to reach cash flow break-even with a healthy balance sheet [45] Question: How is the company thinking about the growth of the sales force in 2024? [41] - The LDD sales force is expected to remain stable, while the LAL sales force will continue to grow, particularly in clinical sales roles [15] - The company will add sales personnel as needed, but not at the rapid pace seen during the initial sales force creation [15] Question: What is the company's view on the premium IOL market growth trajectory? [76] - The premium IOL market is expected to double over the next 5-10 years, driven by demographic trends and the growing importance of optometry in premium cataract surgery [77][141] Question: How is the company thinking about the split between legacy LAL and LAL Plus? [63] - The LAL Plus is expected to provide additional motivation for doctors to adopt adjustable IOL technology, particularly for patients who desire earlier near vision [64][119] Question: What is the company's view on the competitive landscape in Europe? [126] - Europe is seen as a large and wealthy market, with individual countries having unique characteristics [91] - Regulatory complexity has increased, but the underlying demand for high-quality vision remains strong [91]

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, 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 incorp ...

Financial Data and Key Metrics Changes - RxSight generated third quarter 2023 revenue of $22.2 million, up 76% compared to $12.6 million in the year-ago quarter, and up 7% compared to $20.8 million in the second quarter of 2023 [14] - GAAP net loss in the third quarter of 2023 was $12.4 million, or a loss of $0.35 per share, compared to a GAAP net loss of $16.8 million, or $0.61 per share in the same year-ago quarter [18] - Cash, cash equivalents, and short-term investments at the end of the third quarter were $131.9 million, down from $147.1 million at June 30, 2023 [19] Business Line Data and Key Metrics Changes - LAL revenue as a percentage of total revenue was 61%, up from 52% in the third quarter of 2022 and 60% in the second quarter of 2023 [15] - Sold 13,657 LALs in Q3 2023, up 107% compared to 6,595 units in the year-ago quarter [39] - Sold 66 LDDs in Q3 2023, up 35% compared to 49 units in the year-ago period [40] Market Data and Key Metrics Changes - The installed base of LDDs increased to 589 units, up 72% compared to the third quarter of 2022 [16] - The average selling price (ASP) of the reconfigured LDD increased to just over $120,000 in Q3 2023 [41] - Gross margin in Q3 2023 increased to approximately 62%, compared to 42% in the year-ago quarter [41] Company Strategy and Development Direction - The company launched a reconfigured light delivery device (LDD) and plans to expand the ongoing Phase IV LAL clinical study to generate more real-world data [12][9] - The introduction of the LAL Plus aims to widen the addressable patient base and stimulate additional procedure growth in 2024 and beyond [22] - The company focuses on continuous improvement of technology to drive adoption by patients and practices [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future potential of their technology to reshape and expand the premium cataract market [23] - The company is not dependent on government reimbursement decisions and caters to a desirable patient demographic with a strong U.S. focus and global opportunities [48] - Management expects Q4 to be seasonally the strongest quarter of the year, with a revenue guidance of $25 million to $27 million [21] Other Important Information - SG&A expenses in Q3 2023 were $19.1 million, up 28% compared to $14.9 million in the year-ago quarter [17] - R&D expenses rose 11% to $7.1 million compared to $6.4 million in the same year-ago quarter [42] - The company raised $11.7 million net of fees in July under its ATM program and used the proceeds to pay off a $20 million debt balance [19] Q&A Session Summary Question: Is Q4 tracking towards normal seasonality? - Management expects Q4 to be seasonally the strongest quarter of the year, which is reflected in the revenue guidance [51] Question: Any noteworthy international sales in Q3? - Management did not provide specific details but indicated ongoing efforts to expand internationally [64] Question: What is different about LAL Plus? - The fitting process for LAL Plus is identical to LAL, and it aims to provide improved clinical outcomes without additional training for doctors [65] Question: How is the penetration of LDDs in the U.S. marketplace? - Management believes there is still significant growth potential for LDD placements as practices develop and expand [70] Question: How is the utilization growth distributed? - Utilization growth comes from both new surgeons and increased procedures among existing customers [72]

Financial Performance - Revenue for Q3 2023 was $22.199 million, a 76.2% increase from $12.615 million in Q3 2022, driven by higher sales of LDDs and LALs [131]. - For the nine months ended September 30, 2023, total revenue was $60.497 million, up from $32.917 million in the same period of 2022, reflecting a 83.7% year-over-year growth [131]. - Sales increased by $9.6 million, or 76.0%, to $22.2 million for the three months ended September 30, 2023, compared to $12.6 million for the same period in 2022 [143]. - For the nine months ended September 30, 2023, sales increased by $27.6 million, or 83.8%, to $60.5 million compared to $32.9 million for the same period in 2022 [150]. - Gross profit rose to $13.7 million, a 156.4% increase from $5.4 million in the prior year, with a gross margin improvement to 62.0% from 42.5% [144]. - Gross profit for the nine months ended September 30, 2023, was $36.1 million, a 159.7% increase from $13.9 million in the prior year [149]. Expenses and Losses - Selling, general and administrative (SG&A) expenses increased by $4.2 million, or 28.2%, to $19.1 million for the three months ended September 30, 2023 [145]. - Research and development expenses rose by $0.7 million, or 11.2%, to $7.1 million for the three months ended September 30, 2023 [147]. - Total operating expenses for the nine months ended September 30, 2023, increased by $13.1 million, or 21.1%, to $75.3 million [149]. - The company anticipates continued net losses and negative cash flows from operations in the near future due to increased costs associated with being a public company [122]. - Net loss decreased to $12.4 million for the three months ended September 30, 2023, down 26.2% from a net loss of $16.8 million in the same period last year [149]. Cash and Investments - As of September 30, 2023, the company had cash, cash equivalents, and short-term investments totaling $131.9 million [157]. - The company incurred an accumulated deficit of $585.5 million as of September 30, 2023 [157]. - Net cash used in operating activities for the nine months ended September 30, 2023, was $33.3 million, a decrease from $45.0 million in the same period of 2022 [169]. - Net cash provided by financing activities for the nine months ended September 30, 2023, was $58.0 million, primarily from common stock issuances totaling $54.1 million [173]. - The company anticipates that its current cash and short-term investments will be sufficient to fund operations for at least the next 12 months without the need for additional capital [166]. - Net cash used in investing activities for the nine months ended September 30, 2023, was $26.7 million, consisting of net maturities of short-term investments of $23.5 million [171]. Market and Operational Challenges - The company is facing supply chain constraints and inflation, which may impact its ability to manufacture products and could adversely affect financial results [183]. - Uncertain macroeconomic conditions, including inflationary pressures and rising interest rates, are expected to continue affecting the company's financial results and liquidity [184]. - The company plans to continue investing in sales and marketing, with a focus on increasing the number of sales representatives and clinical specialists to drive product adoption [120]. - Research and development efforts are aimed at enhancing the RxSight system and expanding its indications for use, with a focus on improving clinical outcomes and customer experience [121]. Product Adoption and Market Position - As of September 30, 2023, the installed base of Light Delivery Devices (LDDs) reached 589, with over 78,000 Light Adjustable Lenses (LALs) implanted since inception [118]. - In Q3 2023, LDD sales increased by 17 units and LAL sales increased by 7,062 units compared to Q3 2022, indicating strong adoption of the RxSight technology [126]. - The gross margin for LALs is expected to improve significantly as manufacturing volume increases, while LDDs have a low gross margin due to high material costs [135]. - The company recorded contract liabilities of $1.678 million related to service agreements as of September 30, 2023, compared to $1.187 million at the end of 2022 [130]. - SG&A expenses are expected to increase in absolute dollars as the company expands its sales and marketing organization to support revenue growth [136]. - The aggregate market value of the company's common stock held by non-affiliate stockholders exceeded $700 million as of the last business day of the second quarter of 2023, transitioning it to a "large accelerated filer" status [182].

RxSight, Inc. (NASDAQ:RXST) Q2 2023 Earnings Call Transcript August 7, 2023 4:30 PM ET Company Participants Alex Huang - Director, Investor Relations Ron Kurtz - President and Chief Executive Officer Shelley Thunen - Chief Financial Officer Conference Call Participants Robbie Marcus - JPMorgan Steven Lichtman - Oppenheimer Ryan Zimmerman - BTIG Craig Bijou - Bank of America David Saxon - Needham & Co Operator Good day and thank you for standing by. Welcome to the RxSight Second Quarter 2023 Earnings Confere ...

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, 2023 OR | | Trading | | | --- | --- | --- | | Title of each class | Symbol(s) | Name of each exchange on which registered | | Common Stock, par value $0.001 per share | RXST | The Nasdaq Stock Market LLC | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

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 September 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 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, 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 ...