RxSight (NASDAQ:RXST) Releases Earnings Results, Beats Estimates By $0.22 EPS

Key Points

• RxSight beat quarterly expectations, reporting an adjusted loss of $0.11 per share versus the $0.33 consensus loss, while revenue reached $33.74 million, above the $32.55 million estimate.
• Core product sales fell 19% year over year to $27.2 million, and LAL unit volume declined 9% amid competition and market pressures. Management withdrew its 2026 financial guidance, with formal guidance expected to return in early 2027.
• The Alcon collaboration provided $6.5 million in second-quarter revenue and is projected to contribute $30 million–$40 million in 2026, while new CEO Aziz Mottiwala plans to focus on deeper utilization of the company’s installed base and improved commercial execution.

RxSight (NASDAQ:RXST - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.22, FiscalAI reports. The business had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. RxSight had a negative net margin of 36.58% and a negative return on equity of 17.01%.

Here are the key takeaways from RxSight's conference call:

• Core product sales declined 19% year over year to $27.2 million, while LAL unit volume fell 9% to 24,917 units amid competitive trialing and broader market headwinds. Gross margin excluding Alcon also decreased to 71.2% from 74.9%, primarily due to higher inventory-related costs.
• Management withdrew its full-year 2026 financial guidance, citing the need for a thorough assessment and flexibility to make potential strategic or operational changes. Formal guidance is expected to resume with the company’s fourth-quarter results in early 2027.
• The company reported a strategic collaboration with Alcon that contributed $6.5 million of second-quarter revenue and is expected to generate $30 million to $40 million in 2026 revenue, plus future milestones and royalties. RxSight ended the quarter with approximately $209 million in cash and investments, before receiving an additional $60 million upfront payment after quarter-end.
• New CEO Aziz Mottiwala plans to shift the commercial strategy from establishing broad account reach to driving deeper utilization within the existing 1,166-unit LDD installed base. The company intends to eventually double its U.S. sales team, primarily through internal resource reallocations, while improving practice workflows, physician education, and patient selection.
• Management said early third-quarter trends are encouraging, but expects continued competition, product trialing, seasonality, affordability pressures, and broader market conditions to affect results. Alcon-related revenue is expected to be limited in the third quarter, with most of the remaining 2026 contribution recognized in the fourth quarter.

RxSight Stock Up 0.6%

Shares of NASDAQ RXST traded up $0.04 during midday trading on Wednesday, reaching $6.29. 902,081 shares of the stock were exchanged, compared to its average volume of 965,678. The firm has a 50-day simple moving average of $5.29 and a two-hundred day simple moving average of $6.67. RxSight has a twelve month low of $4.48 and a twelve month high of $13.22. The firm has a market cap of $260.41 million, a price-to-earnings ratio of -5.57 and a beta of 1.13.

Institutional Trading of RxSight

A number of institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of RxSight during the 4th quarter worth about $156,000. Invesco Ltd. increased its position in shares of RxSight by 6.6% during the fourth quarter. Invesco Ltd. now owns 20,114 shares of the company's stock valued at $210,000 after acquiring an additional 1,249 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of RxSight by 17.9% during the fourth quarter. Corient Private Wealth LLC now owns 35,570 shares of the company's stock valued at $371,000 after acquiring an additional 5,408 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of RxSight in the 4th quarter valued at approximately $201,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of RxSight in the 4th quarter valued at approximately $123,000. 78.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on RXST. Weiss Ratings downgraded RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. UBS Group reissued a "neutral" rating and issued a $5.50 price target (down from $9.00) on shares of RxSight in a report on Tuesday, July 28th. Jefferies Financial Group set a $6.50 price objective on shares of RxSight in a research report on Tuesday, July 7th. Bank of America reduced their price objective on shares of RxSight from $8.00 to $6.50 and set an "underperform" rating for the company in a research note on Tuesday, July 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 target price on shares of RxSight in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $8.50.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

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