RxSight (RXST) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 19% YoY to $24.6M amid competition and product trialing; commercial priorities include rebuilding U.S. LAL utilization, advancing the lens pipeline, and executing the Alcon collaboration.

• Commercial realignment, a nearly doubled U.S. sales force, and new leadership aim to deepen practice support and restore growth; the installed base reached 1,170 LDDs, with ~380,000 LALs implanted since launch through Q3.

Financial highlights

• Q3 revenue was $24.6M versus $30.3M; operating loss was $18.5M versus $12.2M, and net loss was $16.2M versus $9.8M.

• Q3 total costs and expenses were $43.1M versus $42.5M; cost of sales rose 6.1% to $6.5M, mainly due to higher excess and obsolete inventory reserves.

• Nine-month revenue was $89.2M versus $101.9M; product sales declined 18.8% to $82.7M, partly offset by $6.5M in Alcon collaboration revenue.

Outlook and guidance

• Formal FY2026 guidance remains paused; 2027 financial guidance is expected with Q4 results, and total 2027 OpEx is expected below 2026 despite strategic investment.

• Q4 LAL sales are expected to be more in line with Q2; competition, product trials, and restructuring-related disruption are expected to continue.

• Current cash is expected to fund operations for at least 12 months, with no additional capital or debt anticipated under current plans; near-term operating losses are expected.

• LDD manufacturing was paused in Q3; existing inventory is expected to serve near-term demand.

• 2028 is the earliest potential approval timing for the next-generation lens; development, clinical proof-of-concept, and testing remain.