RxSight (RXST)
NASDAQ:RXST
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RxSight
(NASDAQ:RXST)
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Rating:49Neutral
Price Target:
$7.00
▼(-8.02% Downside)
Action:ReiteratedDate:02/26/26
The score is held back primarily by weak cash flow and ongoing net losses alongside conservative 2026 guidance and margin headwinds. Offsetting factors include a strong, low-leverage balance sheet with substantial cash and some signs of operational progress (mix and utilization), but technicals and valuation remain unfavorable.
Positive Factors
Balance Sheet Strength
A low leverage profile and a sizeable cash position give RxSight durable financial flexibility to fund commercialization, absorb operating volatility, and invest in international rollouts or R&D without immediate refinancing risk. This reduces solvency risk during adoption ramps.
Negative Factors
Weak Cash Generation
Persistent negative operating and free cash flow undermines the firm's ability to self-fund growth and increases reliance on cash reserves. If commercial adoption stalls, continued cash burn could necessitate financing or constrain investments in sales, manufacturing scale, or international expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
A low leverage profile and a sizeable cash position give RxSight durable financial flexibility to fund commercialization, absorb operating volatility, and invest in international rollouts or R&D without immediate refinancing risk. This reduces solvency risk during adoption ramps.
Read all positive factors
RxSight (RXST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$305.37M
Dividend YieldN/A
Average Volume (3M)743.31K
Price to Earnings (P/E)―
Beta (1Y)1.38
Revenue Growth-3.89%
EPS Growth-33.98%
CountryUS
Employees498
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.95
Shares Outstanding41,266,335
10 Day Avg. Volume746,305
30 Day Avg. Volume743,307
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)1.56
Price to Sales (P/S)3.19
P/FCF Ratio-22.18
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue2.20
Enterprise Value/Gross Profit2.88
Enterprise Value/Ebitda-7.48
Forecast
1Y Price Target
$10.33Price Target Upside35.79% Upside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)-1.32
Revenue Forecast (FY)$129.19M
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 th...
How the Company Makes Money
RxSight primarily makes money by selling its Light Adjustable Lens (LAL) system to cataract surgery providers. Key revenue streams include: (1) Sales of Light Adjustable Lenses (implantable intraocular lenses) used in cataract procedures; (2) Sale...
RxSight Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: notable operational and clinical strengths (strong LAL margins, improving sequential LAL volumes, compelling clinical evidence, a growing installed base and a robust cash position) but also material near-term headwinds (large LDD revenue decline, a wider GAAP loss, manufacturing-driven margin pressure and conservative 2026 guidance). Management emphasized early signs of commercial improvement and a measured plan to drive utilization and international expansion, while remaining prudent in 2026 assumptions.Positive Updates
Strong LAL Revenue Mix and Gross Margin
LAL revenue was $28.2M in Q4 (in line with Q4 2024) and accounted for an all-time high 86% of total company sales in Q4 (up from 71% year-ago); Q4 gross margin improved to 77.5% vs 71.6% year-ago; full-year 2025 gross profit margin was 76.6% vs 70.7% in 2024.
Negative Updates
Significant LDD Revenue Decline
LDD revenue materially declined: Q4 LDD units were 25 vs 83 in the year-ago quarter (Q4 LDD revenue $3M vs ~$11M prior-year contribution), and full-year LDD revenue decreased 48% year-over-year, weighing on total sales.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong LAL Revenue Mix and Gross Margin
LAL revenue was $28.2M in Q4 (in line with Q4 2024) and accounted for an all-time high 86% of total company sales in Q4 (up from 71% year-ago); Q4 gross margin improved to 77.5% vs 71.6% year-ago; full-year 2025 gross profit margin was 76.6% vs 70.7% in 2024.
Read all positive updates
Company Guidance
RxSight guided 2026 revenue of $120 million to $135 million (≈5% year‑over‑year decline at the midpoint), with Q1 expected to be the weakest quarter and a rebound in the back half as comparisons ease; full‑year gross margin is forecast at 70%–72% (down from 76.6% in 2025, consistent with 2024), reflecting sell‑through of higher‑cost inventory from lower 2025 production and transient manufacturing absorption headwinds; operating expenses are expected to be $150M–$160M (about a 1% decrease to a 6% increase versus 2025’s $151.2M) with R&D roughly flat to 2025 levels and non‑cash stock‑based compensation of $30M–$32M included, while management assumes modest OUS revenue (primarily early capital placements), a slight acceleration in LDD placements above the ~25 units/quarter exit rate, low‑single‑digit LAL unit growth implying utilization near ~8 lenses/LDD/month, and a strong balance sheet with ~ $228M cash and no debt supporting execution.RxSight Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 134.48M | 139.93M | 89.08M | 49.01M | 22.59M |
| Gross Profit | 103.01M | 98.94M | 53.77M | 21.33M | 4.52M |
| EBITDA | -39.62M | -23.76M | -41.04M | -57.78M | -41.01M |
| Net Income | -38.94M | -27.45M | -48.61M | -66.76M | -48.69M |
Balance Sheet | |||||
| Total Assets | 311.81M | 318.56M | 182.55M | 150.16M | 192.72M |
| Cash, Cash Equivalents and Short-Term Investments | 228.13M | 237.22M | 127.18M | 105.80M | 159.33M |
| Total Debt | 11.04M | 12.30M | 3.01M | 44.99M | 44.93M |
| Total Liabilities | 36.13M | 37.33M | 22.19M | 60.26M | 54.48M |
| Stockholders Equity | 275.68M | 281.24M | 160.36M | 89.90M | 138.24M |
Cash Flow | |||||
| Free Cash Flow | -19.34M | -22.39M | -46.41M | -61.24M | -46.65M |
| Operating Cash Flow | -15.51M | -16.95M | -41.59M | -58.85M | -44.71M |
| Investing Cash Flow | 16.89M | -99.31M | -22.13M | 39.95M | -81.91M |
| Financing Cash Flow | 1.86M | 123.32M | 61.52M | 6.33M | 137.34M |
RxSight Technical Analysis
Neutral
7.61
Price Trends
7.46
Positive
9.08
Negative
8.91
Negative
Market Momentum
-0.02
Negative
58.10
Neutral
83.13
Negative
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 7.61 is above the 20-day moving average (MA) of 6.74, above the 50-day MA of 7.46, and below the 200-day MA of 8.91, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 58.10 is Neutral, neither overbought nor oversold. The STOCH value of 83.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RXST.
RxSight Risk Analysis
RxSight disclosed 90 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $372.11M | 134.00 | 2.63% | ― | 129.08% | ― | |
57 Neutral | $1.38B | -20.44 | -35.34% | ― | 20.20% | -0.81% | |
52 Neutral | $776.39M | -15.08 | -31.77% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $305.37M | -11.02 | -14.05% | ― | -3.89% | -33.98% | |
48 Neutral | $213.16M | -3.33 | -104.17% | ― | 56.89% | 34.00% | |
46 Neutral | $579.53M | -23.54 | -105.67% | ― | 25.13% | 29.55% |
* Healthcare Sector Average
RXST
RxSight
7.40
-7.24
-49.45%
DCTH
Delcath Systems
10.80
-1.19
-9.92%
SENS
Senseonics Holdings
5.10
-8.31
-61.96%
BFLY
Butterfly Network
5.40
3.18
143.24%
NPCE
NeuroPace
17.07
5.54
48.05%
CBLL
Ceribell, Inc.
20.50
4.32
26.70%
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.