RXST · RxSight, Inc.

RxSight's Q1 2026 results showed sales of $30.9 million, a decline of 18.5% from the prior year, primarily due to lower Light Delivery Device (LDD) unit volumes as anticipated, with LAL procedures nearly flat at a 0.4% decrease. Despite the revenue drop, gross profit margin expanded to 76.1% from 74.8%, driven by a favorable shift toward higher-margin LAL sales. Operating expenses rose to $41.3 million from $39.0 million, reflecting investments in global commercial and support teams. This led to a GAAP net loss of $15.9 million or $0.38 per share, wider than the prior year's $8.2 million or $0.20 per share; adjusted net loss was $7.9 million or $0.19 per share. Management highlighted stabilizing trends and progress from commercial initiatives, supported by robust clinical data at ASCRS showing 93.1% of patients achieving 20/20 distance and J1 near vision, and 91.2% refractive accuracy. Recent regulatory approval in New Zealand expands international opportunities. The company reiterated 2026 sales guidance of $120-135 million and gross margin of 70-72%, with operating expenses at the high end of $150-160 million to fund growth. Balance sheet remains solid with $217.9 million in cash and short-term investments as of March 31, 2026, providing ample runway for strategic investments.