RxSight (RXST) AI Stock Analysis

• Market Cap: $350.72M
• Dividend Yield: N/A
• Average Volume (3M): 1.02M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: 10.75%
• EPS Growth: -7.15%
• Country: US
• Employees: 498
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.24
• Shares Outstanding: 41,116,640
• 10 Day Avg. Volume: 727,529
• 30 Day Avg. Volume: 1,015,909
• PEG Ratio: 0.98
• Price to Book (P/B): 4.75
• Price to Sales (P/S): 9.55
• P/FCF Ratio: -59.69
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 2.37
• Enterprise Value/Gross Profit: 3.16
• Enterprise Value/Ebitda: -10.30
• 1Y Price Target: $11.00
• Price Target Upside: 27.46% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $8.50 ▼(-1.51% Downside)
• Action: Reiterated Date: 01/13/26
• Date: Action: Reiterated 01/13/26

RXST scores low-to-mid primarily due to weak financial performance (declining revenue, ongoing losses, negative operating cash flow) and bearish technicals (below major moving averages with negative MACD). Offsetting factors include improving gross margin and relatively supportive updates from management and recent events (raised margin outlook and guidance beat in preliminary results), but these do not fully counter the current profitability and trend risks.

Positive Factors

Proprietary Light Adjustable Lens (LAL) platform

The LAL’s noninvasive post-op adjustability is a durable product-level competitive advantage. It creates differentiated clinical outcomes, higher surgeon preference, and recurring per-procedure consumable demand tied to an installed LDD base, supporting sustainable adoption and sticky revenue over the medium term.

High and improving gross margins

Material margin expansion driven by higher LAL mix and lower unit costs enhances operating leverage capacity. Sustained high gross margins provide room to invest in commercialization and global rollout while insulating core profitability from some revenue volatility as procedural adoption grows.

Strong liquidity and low leverage

A sizeable cash balance and minimal debt give the company several quarters of runway to fund commercialization, regulatory efforts, and R&D without immediate financing pressure. Low leverage reduces refinancing risk and supports execution of multi-year international expansion plans.

Negative Factors

Overall revenue decline

A persistent downtrend in top-line receipts signals adoption or demand pacing issues that weaken operating leverage. Continued revenue contraction can erode the ability to absorb fixed commercial costs, slow margin recovery, and extend the timeline to sustainable profitability absent accelerating procedure volumes.

Sharp decline in LDD sales

LDD placements seed the installed base that drives recurring lens and consumable sales. A steep drop in LDD unit sales undermines future per-procedure revenue visibility, impairs the company’s capital-equipment-led go-to-market model, and slows the scalable recurring revenue engine central to long-term margins.

Persistent losses and negative operating cash flow

Ongoing GAAP losses and negative operating cash flow indicate the business has not yet achieved operating profitability despite margin gains. Continued losses risk depleting cash over time or forcing dilutive financing or austerity measures, which could slow commercialization and R&D investment necessary for long-term growth.

RxSight Business Overview & Revenue Model

Company Description

RxSight, Inc., a medical technology company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery. The company's RxSight system includes RxSight light delivery device, an office-based light treatment device that delivers UV light in a programmed pattern to modify the LAL based on the visual correction needed to achieve desired vision after cataract surgery. It primarily serves cataract doctors. The company was formerly known as Calhoun Vision, Inc. and changed its name to RxSight, Inc. in February 2017. RxSight, Inc. was incorporated in 1997 and is headquartered in Aliso Viejo, California.

How the Company Makes Money

RxSight generates revenue primarily through the sale of its proprietary light-adjustable lenses and the associated delivery system used by ophthalmic surgeons. The company earns income from both direct sales of lenses and from the leasing or selling of the equipment used to adjust the lenses after implantation. Additionally, RxSight may receive revenue from service agreements related to the maintenance of its technology and training programs for healthcare professionals. Strategic partnerships with hospitals and surgical centers also bolster its market reach and revenue potential, as they facilitate wider adoption of its innovative products in the ophthalmology market.

RxSight Financial Statement Overview

Summary

Mixed fundamentals: low leverage (debt-to-equity 0.042) and strong gross margin (68.42% TTM), but revenue is declining (TTM -9.59%) with persistent losses and negative operating cash flow, signaling ongoing profitability and execution challenges.

Income Statement

RxSight's income statement reveals a challenging financial position with declining revenue growth and negative profit margins. The TTM data shows a revenue decline of 9.59%, and the company has consistently reported negative net profit margins, indicating ongoing profitability challenges. Despite a relatively strong gross profit margin of 68.42% in the TTM, the negative EBIT and EBITDA margins highlight operational inefficiencies.

Balance Sheet

The balance sheet reflects a stable financial structure with a low debt-to-equity ratio of 0.042 in the TTM, suggesting limited leverage risk. However, the return on equity remains negative, indicating that the company is not generating positive returns for shareholders. The equity ratio is reasonable, suggesting a solid capital base, but the negative ROE points to profitability issues.

Cash Flow

Cash flow analysis shows some improvement in free cash flow growth, with a 6.30% increase in the TTM. However, the operating cash flow remains negative, and the operating cash flow to net income ratio is below 1, indicating cash flow challenges. The free cash flow to net income ratio is above 1, suggesting that the company is managing to convert net income into free cash flow effectively.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	142.09M	139.93M	89.08M	49.01M	22.59M	14.68M
Gross Profit	106.53M	98.94M	53.77M	21.33M	4.52M	1.71M
EBITDA	-32.69M	-23.76M	-41.04M	-57.78M	-41.01M	32.15M
Net Income	-35.73M	-27.45M	-48.61M	-66.76M	-48.69M	27.57M
Balance Sheet
Total Assets	308.53M	318.56M	182.55M	150.16M	192.72M	100.68M
Cash, Cash Equivalents and Short-Term Investments	227.52M	237.22M	127.18M	105.80M	159.33M	68.97M
Total Debt	11.56M	12.30M	3.01M	44.99M	44.93M	30.75M
Total Liabilities	32.56M	37.33M	22.19M	60.26M	54.48M	398.21M
Stockholders Equity	275.97M	281.24M	160.36M	89.90M	138.24M	-297.53M
Cash Flow
Free Cash Flow	-22.20M	-22.39M	-46.41M	-61.24M	-46.65M	-37.74M
Operating Cash Flow	-18.66M	-16.95M	-41.59M	-58.85M	-44.71M	-35.20M
Investing Cash Flow	27.82M	-99.31M	-22.13M	39.95M	-81.91M	15.59M
Financing Cash Flow	3.78M	123.32M	61.52M	6.33M	137.34M	25.24M

RxSight Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 8.63
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RXST, the sentiment is Neutral. The current price of 8.63 is above the 20-day moving average (MA) of 8.54, below the 50-day MA of 9.98, and below the 200-day MA of 10.32, indicating a neutral trend. The MACD of -0.40 indicates Negative momentum. The RSI at 46.35 is Neutral, neither overbought nor oversold. The STOCH value of 68.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RXST.

RxSight Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DCTH	61 Neutral	$334.77M	1,108.14	1.94%	―	251.54%	―
NPCE	61 Neutral	$481.30M	-19.23	-169.27%	―	24.08%	24.08%
CBLL	59 Neutral	$739.69M	-14.01	-59.78%	―	―	―
BFLY	54 Neutral	$772.96M	-9.14	-41.42%	―	16.04%	28.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
RXST	50 Neutral	$350.72M	-9.57	-12.92%	―	10.75%	-7.15%
SENS	50 Neutral	$323.60M	-4.81	-129.29%	―	31.94%	36.59%

RxSight Corporate Events

RxSight Announces New CFO and Strong Preliminary Results

On January 11, 2026, RxSight reported preliminary unaudited results indicating fourth-quarter 2025 revenue of about $32.6 million and full-year 2025 revenue of roughly $134.5 million, exceeding its prior guidance. Growth was driven by the sale of 28,611 Light Adjustable Lenses in the fourth quarter and 109,615 lenses for the year, alongside 25 Light Delivery Devices in the quarter and 163 for the year, bringing the installed base to 1,134 devices and supporting an estimated 10% share of the premium intraocular lens market and adoption by more than a quarter of U.S. cataract surgeons. The company ended 2025 with an expected $228.1 million in cash, cash equivalents and short-term investments, positioning it with significant financial flexibility as it prepares to release audited full-year 2025 results and 2026 guidance in February. In tandem with these results, RxSight completed its planned finance leadership transition: on December 13, 2025, it appointed former Edwards Lifesciences executive Mark Wilterding as Chief Financial Officer, effective January 11, 2026, replacing Shelley Thunen, and granted him a compensation package including salary, bonus eligibility, equity awards, and change-in-control severance terms aligned with other senior executives, reinforcing the company’s leadership bench as it pursues long-term growth in the premium cataract surgery market.

The most recent analyst rating on (RXST) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on RxSight stock, see the RXST Stock Forecast page.

RxSight Announces CFO Transition and Leadership Continuity Plan

On December 23, 2025, RxSight, Inc. entered into a transition agreement and release of claims with outgoing Chief Financial Officer Shelley Thunen, along with a consulting agreement that will take effect upon her separation from employment, under which she will provide transition services to the company. The leadership change, previously announced, is not expected to alter RxSight’s outlook or expectations for full-year 2025, with the company emphasizing that it remains focused on executing its strategic and operational priorities despite the CFO transition.

The most recent analyst rating on (RXST) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on RxSight stock, see the RXST Stock Forecast page.

RxSight announces planned transition of longtime CFO Thunen

On December 16, 2025, RxSight Chief Financial Officer Shelley Thunen notified the company she would transition out of her role as CFO and principal financial and accounting officer, effective upon the appointment of her successor or by January 31, 2026. Under a planned transition and consulting arrangement, Thunen will receive her base salary through the transition date, remain eligible for an annual cash bonus based on 2025 corporate performance, and continue to vest in her stock options while she provides transition services as a consultant through a term scheduled to run until December 31, 2026, compensated via monthly retainers for early 2026 and an hourly fee. In a December 22, 2025 press release, RxSight’s leadership credited Thunen, who has served the company for nearly a decade, with shaping its financial strategy, guiding it through its 2021 IPO, and helping drive its evolution from a pre-commercial business to one with more than 1,100 Light Delivery Devices in the field and over 250,000 procedures performed, underscoring the significance of the CFO transition for investors and other stakeholders while signaling continuity through her ongoing advisory role.

The most recent analyst rating on (RXST) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on RxSight stock, see the RXST Stock Forecast page.

RxSight Announces Executive Leadership Reorganization and New Appointments

On December 18, 2025, RxSight, Inc. announced executive leadership changes, naming Eric Weinberg as Chief Business Development Officer as he transitioned from his prior role as Chief Commercial Officer. On the same date, the company’s board appointed Scott Gaines as Chief Customer Officer, giving him responsibility for RxSight’s U.S. commercial organization and signaling a reorganization of its commercial leadership structure to support business development and customer-focused growth in its domestic market.

The most recent analyst rating on (RXST) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on RxSight stock, see the RXST Stock Forecast page.