Rxsight, Inc. (RXST)
NASDAQ:RXST
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RxSight
(NASDAQ:RXST)
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Rating:51Neutral
Price Target:
$6.00
▼(-21.16% Downside)
Action:Reiterated
Date:05/11/26
The score is held back primarily by ongoing losses and negative cash flow alongside bearish technical momentum. Offsetting factors include strong gross margins and a very low-debt balance sheet, plus maintained full-year guidance and signs of volume stabilization, though near-term revenue softness and expected margin headwinds limit upside.
Positive Factors
High gross margins / product economics
Consistently high gross margins driven by LAL mix indicate durable product-level economics. High implant margins mean the business can cover fixed costs and fund commercialization as volumes scale, improving prospects for eventual operating leverage and sustainable profitability.
Negative Factors
Ongoing negative cash flow and losses
Sustained negative operating and free cash flow mean the company currently burns cash and is loss-making. Without durable revenue growth, the firm may need external financing or slower investment pace, which can dilute shareholders or delay commercialization efforts and slow path to self-funding.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins / product economics
Consistently high gross margins driven by LAL mix indicate durable product-level economics. High implant margins mean the business can cover fixed costs and fund commercialization as volumes scale, improving prospects for eventual operating leverage and sustainable profitability.
Read all positive factors
RxSight (RXST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$251.90M
Dividend YieldN/A
Average Volume (3M)687.99K
Price to Earnings (P/E)―
Beta (1Y)1.30
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. Volume578,722
30 Day Avg. Volume687,991
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/Revenue1.92
Enterprise Value/Gross Profit2.50
Enterprise Value/Ebitda-4.89
Forecast
1Y Price Target
$9.83Price Target Upside29.22% Upside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)-1.4
Revenue Forecast (FY)$129.25M
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:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 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 | -50.09M | -39.62M | -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
6.70
Negative
7.76
Negative
8.66
Negative
Market Momentum
-0.28
Negative
43.78
Neutral
85.38
Negative
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 6.37, above the 50-day MA of 6.70, and below the 200-day MA of 8.66, indicating a bearish trend. The MACD of -0.28 indicates Negative momentum. The RSI at 43.78 is Neutral, neither overbought nor oversold. The STOCH value of 85.38 is Negative, 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 | $380.43M | -78.10 | 0.51% | ― | 67.95% | ― | |
52 Neutral | $1.17B | -20.44 | -36.79% | ― | 20.20% | -0.81% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $251.90M | -4.00 | -17.01% | ― | -14.05% | -70.35% | |
49 Neutral | $330.97M | -2.36 | -130.00% | ― | 71.91% | 14.73% | |
49 Neutral | $712.18M | -8.74 | -38.19% | ― | ― | ― | |
47 Neutral | $576.87M | -16.57 | -120.74% | ― | 18.06% | 21.86% |
* Healthcare Sector Average
RXST
RxSight
5.99
-10.02
-62.59%
DCTH
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10.83
-5.58
-34.00%
SENS
Senseonics Holdings
6.43
-4.37
-40.46%
BFLY
Butterfly Network
4.54
2.01
79.45%
NPCE
NeuroPace
16.68
4.02
31.75%
CBLL
Ceribell, Inc.
18.80
1.52
8.80%
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.