RxSight, Inc. reported significant revenue growth in the second quarter of 2024.

From GlobeNewswire: 2024-08-05 16:05:00

RxSight, Inc. reported a revenue of $34.9 million in the second quarter of 2024, a 68% increase from the same period in 2023. They sold 24,214 Light Adjustable Lenses (LAL™) and 78 Light Delivery Devices (LDD™) during this quarter, showing significant growth in procedure volume and unit sales. The company also increased its 2024 revenue and operating expense guidance. In the second quarter, RxSight saw a 92% increase in LAL revenue and a 32% increase in LDD revenue, contributing to a gross profit of $24.3 million or 69.5% of revenue. Total operating expenses were $32.6 million, reflecting the company’s investments to grow its LDD installed base and support increased LAL sales volume. The company reported a net loss of $(6.1) million in the second quarter of 2024, an improvement from $(13.8) million in the same period the previous year. Cash, cash equivalents, and short-term investments totaled $233.3 million as of June 30, 2024. RxSight increased its 2024 full-year revenue guidance to a range of $139.0 million to $140.0 million, representing growth of 56% to 57% compared to 2023. Operating expenses are now estimated to be in the range of $135.0 million to $136.0 million, with a non-cash stock-based compensation expense of $29.0 million to $30.0 million. Gross margin full-year 2024 guidance remains unchanged at 68% to 70%. The company will host a conference call on August 5, 2024 to discuss its second quarter financial results. RxSight, Inc. is an ophthalmic medical device company that offers the RxSight® Light Adjustable Lens system, the first commercially available intraocular lens technology that can be adjusted after cataract surgery.



Read more at GlobeNewswire:: RxSight, Inc. Reports Second Quarter 2024 Financial