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RxSight
(NASDAQ:RXST)
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Rating:54Neutral
Price Target:
$5.00
▼(-34.30% Downside)
Action:Reiterated
Date:07/07/26
The score is primarily constrained by ongoing losses, negative cash flow, and a recent revenue slowdown despite strong gross margins and a low-debt balance sheet. Technicals remain mixed with a pressured longer-term trend. Positives include maintained 2026 guidance and a strategically important Alcon partnership with upfront cash and royalty economics, which helps offset but does not eliminate near-term profitability and growth headwinds.
Positive Factors
Strategic Alcon Collaboration
The non‑exclusive Alcon partnership provides durable funding ( $60M upfront plus milestones) and global commercialization scale. Alcon’s go‑to‑market reach plus RxSight’s development/manufacturing role and royalty upside materially lowers funding needs and accelerates global adoption over multiple years.
Negative Factors
Negative Operating and Free Cash Flow
Persistent negative OCF and FCF mean the company is not yet self‑funding growth and must rely on external capital, partnerships, or milestones. Over a 2–6 month horizon this constrains discretionary investment, raises dilution/default risk, and limits the pace at which commercial infrastructure can be scaled.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Alcon Collaboration
The non‑exclusive Alcon partnership provides durable funding ( $60M upfront plus milestones) and global commercialization scale. Alcon’s go‑to‑market reach plus RxSight’s development/manufacturing role and royalty upside materially lowers funding needs and accelerates global adoption over multiple years.
Read all positive factors
RxSight (RXST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$210.29M
Dividend YieldN/A
Average Volume (3M)1.38M
Price to Earnings (P/E)―
Beta (1Y)1.21
Revenue Growth-14.05%
EPS Growth-70.35%
CountryUS
Employees498
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.13
Shares Outstanding41,396,610
10 Day Avg. Volume2,088,341
30 Day Avg. Volume1,377,608
Financial Highlights & Ratios
PEG Ratio-0.32
Price to Book (P/B)1.56
Price to Sales (P/S)3.19
P/FCF Ratio-22.18
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue1.44
Enterprise Value/Gross Profit1.87
Enterprise Value/Ebitda-4.24
Forecast
1Y Price Target
$8.50Price Target Upside11.70% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)-1.36
Revenue Forecast (FY)$131.52M
RxSight Business Overview & Revenue Model
Company Description
As a medical technology enterprise, RxSight, Inc. (which operated as Calhoun Vision, Inc. until its rebranding in February 2017) specializes in the innovation, manufacturing, and distribution of light-adjustable intraocular lenses (LALs). These ad...
How the Company Makes Money
RxSight primarily makes money by selling its Light Adjustable Lens (LAL) consumables and the capital equipment required to deliver adjustments. The key revenue streams are: (1) Sale of LAL intraocular lenses (and related disposable items, if appli...
RxSight Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: operational positives include stabilized LAL procedure volumes, improved gross margin in Q1, a major commercial milestone (300,000 implants), early signs of success from customer reengagement programs, and maintained full-year revenue guidance. Offsetting these are sizable near-term challenges — an 18% YoY revenue decline, weak LDD capital placements (only 20 sold), a Q1 net loss of $15.9M, increased SG&A/OpEx investments, and anticipated margin pressure from higher-cost inventory that will weigh on near-term profitability. Management projects gradual sequential improvement and is investing to drive longer-term growth, but near-term financial headwinds and modest 2026 volume expectations temper the outlook.Positive Updates
Stabilized LAL Volumes and Customer Reengagement Progress
LAL unit volumes of 27,472 in Q1 were in line with the year-ago period and represent stabilization for the third consecutive quarter; management reported early, localized success from customer reengagement programs (clinical outcome reviews, counseling training, workflow support) and expects sequential improvement through the year.
Negative Updates
Quarterly Revenue Decline
Total Q1 sales were $30.9 million, down 18% year-over-year (YoY), driven by a step down in LDD unit volumes and overall capital placement softness.
Read all updates
Q1-2026 Updates
Positive
Negative
Stabilized LAL Volumes and Customer Reengagement Progress
LAL unit volumes of 27,472 in Q1 were in line with the year-ago period and represent stabilization for the third consecutive quarter; management reported early, localized success from customer reengagement programs (clinical outcome reviews, counseling training, workflow support) and expects sequential improvement through the year.
Read all positive updates
Company Guidance
RxSight reiterated full‑year 2026 revenue guidance of $120–$135 million and gross margin guidance of 70–72%, said operating expenses are expected at the high end of the prior $150–$160 million range (i.e., ~ $160M) and that noncash stock‑based compensation should be $30–$32M for the year; management expects quarterly sales growth to improve through the year on easing comparisons and improving fundamentals, with international a modest contributor in 2026 (early capital placements) and more meaningful contribution in 2027+. For context, Q1 results included sales of $30.9M (down 18% y/y), LAL unit volumes of 27,472 (Q1 LAL sales ≈ $27M, 88% of revenue), 20 LDDs sold (~$2M), an installed base of 1,154 LDD units, gross margin of 76.1% (vs. 74.8% a year ago), SG&A $31.9M (+11% y/y), R&D $9.5M (‑9% y/y), net loss $15.9M or $0.38 per share on 41.3M weighted shares, and adjusted net loss $7.9M or $0.19 per share (with $7.9M of stock‑based compensation in Q1). Management cautioned that gross margin is expected to step down from Q1 due to flow‑through of higher‑cost 2025 inventory, that operating expense phasing will be heavier in the first half, and that manufacturing absorption should improve as production normalizes.RxSight Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
78
Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 127.48M | 134.48M | 139.93M | 89.08M | 49.01M | 22.59M |
| Gross Profit | 98.18M | 103.01M | 98.94M | 53.77M | 21.33M | 4.52M |
| EBITDA | -43.24M | -38.84M | -23.76M | -41.04M | -57.78M | -41.01M |
| Net Income | -46.64M | -38.94M | -27.45M | -48.61M | -66.76M | -48.69M |
Balance Sheet | ||||||
| Total Assets | 303.99M | 311.81M | 318.56M | 182.55M | 150.16M | 192.72M |
| Cash, Cash Equivalents and Short-Term Investments | 217.88M | 228.13M | 237.22M | 127.18M | 105.80M | 159.33M |
| Total Debt | 10.83M | 11.04M | 12.30M | 3.01M | 44.99M | 44.93M |
| Total Liabilities | 36.70M | 36.13M | 37.33M | 22.19M | 60.26M | 54.48M |
| Stockholders Equity | 267.30M | 275.68M | 281.24M | 160.36M | 89.90M | 138.24M |
Cash Flow | ||||||
| Free Cash Flow | -21.58M | -19.34M | -22.39M | -46.41M | -61.24M | -46.65M |
| Operating Cash Flow | -17.57M | -15.51M | -16.95M | -41.59M | -58.85M | -44.71M |
| Investing Cash Flow | 4.88M | 16.89M | -99.31M | -22.13M | 39.95M | -81.91M |
| Financing Cash Flow | 2.26M | 1.86M | 123.32M | 61.52M | 6.33M | 137.34M |
RxSight Technical Analysis
Negative
7.61
Price Trends
5.53
Negative
6.44
Negative
8.08
Negative
Market Momentum
-0.05
Negative
43.77
Neutral
33.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RXST, the sentiment is Negative. The current price of 7.61 is above the 20-day moving average (MA) of 5.08, above the 50-day MA of 5.53, and below the 200-day MA of 8.08, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 43.77 is Neutral, neither overbought nor oversold. The STOCH value of 33.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RXST.
RxSight Risk Analysis
RxSight disclosed 88 risk factors in its most recent earnings report. RxSight reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
RxSight Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $466.73M | 811.88 | 0.51% | ― | 67.95% | ― | |
59 Neutral | $2.10B | -26.11 | -36.79% | ― | 20.20% | -0.81% | |
54 Neutral | $210.29M | -4.35 | -17.01% | ― | -14.05% | -70.35% | |
53 Neutral | $279.29M | -2.50 | -130.00% | ― | 71.91% | 14.73% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $578.57M | -26.19 | -120.74% | ― | 18.06% | 21.86% | |
49 Neutral | $745.19M | -11.99 | -38.19% | ― | ― | ― |
* Healthcare Sector Average
RXST
RxSight
4.95
-3.05
-38.13%
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NPCE
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19.56
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21.26%
RxSight Corporate Events
Business Operations and StrategyPrivate Placements and FinancingProduct-Related Announcements
RxSight, Alcon Partner on Light-Adjustable Cataract Lenses
Positive
Jul 6, 2026
On June 30, 2026, RxSight entered into a non-exclusive license, collaboration and development agreement with Alcon Pharmaceuticals to co-develop light-adjustable versions of Alcon’s simultaneous and presbyopia-correcting intraocular lenses. ...
Executive/Board ChangesShareholder Meetings
RxSight Stockholders Back Leadership at 2026 Annual Meeting
Positive
Jun 16, 2026
RxSight held its 2026 Annual Meeting of Stockholders on June 16, 2026, with approximately 80.4% of outstanding common shares represented, reflecting strong shareholder engagement in corporate governance. Stockholders re-elected three Class II dire...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.