RxSight, Inc. Reports Third Quarter 2025 Financial Results

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]