RxSight(RXST)2024-05-06 20:10Revenue Performance - Total revenue for Q1 2024 was 17.5 million in Q1 2023, driven by a 92% increase in Light Adjustable Lens (LAL) revenue and a 35% increase in Light Delivery Device (LDD) revenue[3][7]. - The company increased its 2024 full-year revenue guidance to 137.0 million, implying growth of 48% to 54% compared to 2023[12]. Profitability - Gross profit for Q1 2024 was 10.4 million or 59% of revenue in Q1 2023, due to a favorable product mix and reduced production costs[4]. - Gross margin guidance for 2024 was raised to a range of 68% to 70%, an increase of 800 to 1,000 basis points compared to 2023[12]. Operating Expenses - Operating expenses for Q1 2024 were 23.5 million in Q1 2023, reflecting investments to grow the LDD installed base and support increased LAL sales[5]. - Operating expenses for 2024 are now expected to be in the range of 130.0 million, reflecting an increase of 21% to 25% compared to 2023[12]. Net Loss - The net loss for Q1 2024 was (0.25) per share, compared to a net loss of (0.42) per share in Q1 2023[6]. - Adjusted net loss for Q1 2024 was (0.12) per share, compared to an adjusted net loss of (0.31) per share in Q1 2023[6][21]. Sales Volume and Installed Base - The company sold 20,218 LALs in Q1 2024, a 92% increase in procedure volume compared to Q1 2023, and expanded the installed base of LDDs to 732, a 61% increase[7]. Cash Position - Cash, cash equivalents, and short-term investments as of March 31, 2024, were 127.2 million at December 31, 2023[8].