RxSight, Inc. Reports Fourth Quarter and Full-Year 2024 Financial Results, Reaffirms 2025 Guidance

Core Insights - RxSight, Inc. reported strong financial results for Q4 and full-year 2024, highlighting significant revenue growth and improvements in gross profit margins [4][9][10] - The company emphasizes the transformative potential of its adjustable lens technology in the premium cataract market and plans to expand its global adoption [3][17] Quarterly Financial Results - Total revenue for Q4 2024 was $40.2 million, a 41% increase from$ 28.6 million in Q4 2023, driven by a 60% increase in Light Adjustable Lens (LAL) revenue and a 7% increase in Light Delivery Device (LDD) revenue [4][11] - Gross profit for Q4 2024 was $28.8 million, representing 71.6% of revenue, up from$ 17.7 million or 61.8% of revenue in Q4 2023 [5] - Operating expenses for Q4 2024 were $37.4 million, a 31% increase from$ 28.5 million in Q4 2023, reflecting ongoing investments to support growth [6] Annual Financial Results - Full-year 2024 total revenue reached $139.9 million, a 57% increase compared to 2023, with LAL revenue up 78% and LDD revenue up 24% [9] - Gross profit for the full year was$ 98.9 million, or 70.7% of revenue, compared to $53.8 million or 60.4% in 2023 [10] - The company reported a net loss of$ (27.5) million for 2024, an improvement from a net loss of $(48.6) million in 2023 [13] Operational Highlights - In Q4 2024, RxSight sold 29,069 LALs, a 61% increase in procedure volume compared to Q4 2023, and expanded its LDD installed base to 971 units, a 46% increase [11] - The company’s cash, cash equivalents, and short-term investments totaled$ 237.2 million as of December 31, 2024 [8] 2025 Guidance - The company projects full-year 2025 revenue in the range of $185.0 million to$ 197.0 million, indicating growth of approximately 32% to 41% compared to 2024 [17] - Gross margin is expected to be between 71% and 73%, while operating expenses are projected to be between $165.0 million and$ 170.0 million [17]