RxSight (NASDAQ:RXST) Issues Earnings Results

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

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 Price Performance

Shares of RXST stock traded up $0.04 during trading hours on Wednesday, reaching $6.29. 902,081 shares of the stock were exchanged, compared to its average volume of 965,678. The business’s fifty day moving average is $5.29 and its two-hundred day moving average is $6.67. The firm has a market capitalization of $260.41 million, a P/E ratio of -5.57 and a beta of 1.13. RxSight has a 12-month low of $4.48 and a 12-month high of $13.22.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen raised RxSight from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Jefferies Financial Group set a $6.50 target price on RxSight in a research report on Tuesday, July 7th. Bank of America reduced their price target on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating on the stock in a research report on Tuesday, July 7th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of RxSight in a report on Tuesday, July 7th. Finally, Wells Fargo & Company dropped their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Two 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. Based on data from MarketBeat, RxSight currently has an average rating of “Reduce” and an average target price of $8.50.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently modified their holdings of RXST. Millennium Management LLC raised its stake in RxSight by 130.6% in the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after buying an additional 1,241,885 shares in the last quarter. Bank of America Corp DE raised its position in shares of RxSight by 406.0% during the 3rd quarter. Bank of America Corp DE now owns 722,435 shares of the company’s stock worth $6,495,000 after acquiring an additional 579,653 shares in the last quarter. UBS Group AG lifted its stake in RxSight by 183.0% during the third quarter. UBS Group AG now owns 735,170 shares of the company’s stock worth $6,609,000 after purchasing an additional 475,395 shares during the last quarter. Nuveen LLC lifted its stake in RxSight by 609.7% during the fourth quarter. Nuveen LLC now owns 531,730 shares of the company’s stock worth $5,541,000 after purchasing an additional 456,803 shares during the last quarter. Finally, 4D Advisors LLC boosted its holdings in RxSight by 343.9% in the third quarter. 4D Advisors LLC now owns 554,930 shares of the company’s stock valued at $4,989,000 after purchasing an additional 429,930 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.