Rxsight Stock Earnings Reports

Key points for investors: RxSight reported Q1 2026 revenue of $30.9M, down 18% year-over-year, driven by a step down in LDD (Light Delivery Device) unit sales (20 LDDs in the quarter). LAL (Light Adjustable Lens) procedure volumes were 27,472—roughly flat year-over-year and down 4% sequentially—translating to approximately $27M (88% of sales). Gross margin was 76.1% in Q1; company reiterates full-year 2026 revenue guidance of $120M–$135M and gross margin guidance of 70%–72% (Q1 was a stronger mix quarter; higher cost inventory manufactured in 2025 is expected to pressure margins through Q2 and the remainder of 2026). Q1 net loss was $15.9M ($0.38 per share); adjusted net loss (ex-stock comp) was $7.9M ($0.19). Operating expenses are expected at the high end of the prior $150M–$160M range due to accelerated investments in global commercial expansion, with noncash stock-based comp expected to be $30M–$32M for the year. Installed base: 1,154 LDD units and ~2,500 surgeons. Management reports stabilization of utilization for the third consecutive quarter and early positive signs from customer reengagement programs (clinical outcome reviews, counseling training, workflow support). International expansion is being pursued deliberately; recent approval in New Zealand and activity in Asia, Europe, Australia/New Zealand, but international contribution expected to be modest in 2026 with more meaningful contribution in 2027+. Management remains confident in LAL’s differentiated clinical value and long-term growth potential despite increased competition from fixed premium IOLs, and expects sequential improvement in quarterly growth rates through 2026.