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RxSight (RXST) investor relations material

RxSight Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary5 Nov, 2025

Executive summary

  • Q3 2025 revenue was $30.3 million, down 14% year-over-year, primarily due to a significant decline in LDD sales, partially offset by a 6% increase in LAL procedure volume.

  • Gross margin improved to 79.9–80%, up over 840 basis points year-over-year, driven by a higher LAL mix.

  • Net loss widened to $9.8 million ($0.24 per share) from $6.3 million ($0.16 per share) a year ago; adjusted net loss was $1.7 million ($0.04 per share).

  • Ended Q3 with $227.5 million in cash, cash equivalents, and short-term investments.

  • Strategic initiatives included realignment of the U.S. commercial organization, new leadership for international markets, and launch of clinical engagement programs.

Financial highlights

  • Q3 2025 revenue: $30.3 million, down 14% year-over-year; gross profit: $24.2 million (80% margin).

  • Sold 26,045 LALs, generating $25.7 million (85% of revenue), up 6% year-over-year; LDD sales down 68% to 25 units.

  • SG&A expenses rose 7% year-over-year to $27.3 million; R&D expenses increased 3% to $9.1 million.

  • Operating expenses for Q3: $36.4 million, up 6% year-over-year.

  • Weighted-average shares outstanding: 40.97 million in Q3 2025.

Outlook and guidance

  • Full-year 2025 revenue guidance narrowed to $125–$130 million, implying a 7–11% year-over-year decline.

  • Gross margin guidance raised to 76–77%, up from 72–74% previously.

  • Operating expenses expected at $145–$155 million, including $30–$32 million in non-cash stock-based compensation.

  • Management expects continued net operating losses in the near term but current liquidity is expected to fund operations for at least 12 months.

  • 2026 expected to show sequential growth, focusing on LAL volume and measured LDD placements.

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Frequently asked questions

RxSight Inc. is a medical technology company focused on developing and commercializing adjustable intraocular lenses (IOLs) for patients undergoing cataract surgery. The company's flagship product, the Light Adjustable Lens (LAL), allows for non-invasive adjustments to the lens after implantation, improving visual outcomes. RxSight's technology provides cataract patients with more precise vision correction by enabling post-surgical adjustments tailored to individual needs. The company is headquartered in Aliso Viejo, California, and its shares are listed on the NASDAQ.

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