RxSight (RXST) AI Stock Analysis

• Market Cap: $360.47M
• Dividend Yield: N/A
• Average Volume (3M): 1.36M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.45
• Revenue Growth: 27.68%
• EPS Growth: 20.87%
• Country: US
• Employees: 498
• Sector: Healthcare
• Sector Strength: 53
• Industry: Medical - Devices
• EPS (TTM): -0.29
• Shares Outstanding: 40,915,962
• 10 Day Avg. Volume: 1,391,349
• 30 Day Avg. Volume: 1,364,811
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: 2.00
• Enterprise Value/Gross Profit: 2.92
• Enterprise Value/Ebitda: -8.90
• 1Y Price Target: $8.75
• Price Target Upside: 0.23% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 12

• Rating: 47 Neutral
• Price Target: $8.00 ▼(-8.36% Downside)

RxSight's overall stock score is primarily impacted by its weak financial performance and concerning valuation. The technical analysis further indicates bearish trends, while the earnings call provides a mixed outlook with some positive developments. The company's strategic initiatives and board expansion are positive but not enough to offset the significant challenges.

Positive Factors

Competitive Advantage

RXST has a strong first-mover advantage in the light adjustable lenses market, having captured about 10% of the advanced technology intraocular lens market since its launch.

International Expansion

International markets represent a significant opportunity for RXST, with plans to enter European and Asian markets where the advanced technology IOL market is twice the size of the US market.

Market Potential

Post-LASIK patients represent a significant opportunity for RXST's LALs, with an estimated annual potential US sales from this group being $40-65M.

Negative Factors

Market Competition

Competition and consumer confidence are risks as other companies are launching competing AT-IOLs in the US, potentially impacting RXST’s growth.

Revenue Guidance

RXST cut 2025 revenue guidance by 25% after cutting it 12% in Q1.

Sales Performance

RXST sold 40 Light Delivery Devices, which missed consensus of 78.

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 Light Adjustable Lens (LAL) and associated Light Delivery Device (LDD) systems. These products are sold to ophthalmologists and eye surgery centers, providing a unique value proposition by enabling customized vision correction after cataract surgery. The company also earns revenue from service agreements and follow-up care related to its product offerings. Strategic partnerships with eye care professionals and healthcare facilities further enhance RxSight's market reach and revenue potential.

RxSight Financial Statement Overview

Summary

RxSight shows strong revenue growth and a solid balance sheet with low leverage. However, persistent profitability challenges and negative cash flows highlight the need for strategic improvements in operations and cost management to achieve sustainable financial health.

Income Statement

RxSight has shown impressive revenue growth, with TTM revenue up by 13.2%. However, the company is struggling with profitability, as evidenced by negative EBIT and net income margins. The gross profit margin is healthy at 67.3% TTM, indicating good control over cost of goods sold, but the negative EBIT and net income margins highlight ongoing operational challenges.

Balance Sheet

The company maintains a strong equity position, with a debt-to-equity ratio of 0.04 TTM, indicating low financial leverage. The equity ratio of 89.2% TTM suggests a stable balance sheet with a solid asset base funded primarily by equity. Despite these strengths, the company is not yet profitable, which could pose future risks.

Cash Flow

Free cash flow remains negative, although there is an improvement in operating cash flow compared to the previous year, indicating better cash management. The operating cash flow to net income ratio is negative, reflecting ongoing cash flow challenges. The free cash flow to net income ratio is also negative, underlining the need for improved cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	157.15M	139.93M	89.08M	49.01M	22.59M	14.68M
Gross Profit	107.53M	98.94M	53.77M	21.33M	4.52M	1.71M
EBITDA	-35.25M	-23.76M	-41.04M	-57.78M	-41.01M	32.15M
Net Income	-32.25M	-27.45M	-48.61M	-66.76M	-48.69M	27.57M
Balance Sheet
Total Assets	309.01M	318.56M	182.55M	150.16M	192.72M	100.68M
Cash, Cash Equivalents and Short-Term Investments	227.49M	237.22M	127.18M	105.80M	159.33M	68.97M
Total Debt	11.71M	12.30M	3.01M	44.99M	44.93M	30.75M
Total Liabilities	31.00M	37.33M	22.19M	60.26M	54.48M	398.21M
Stockholders Equity	278.01M	281.24M	160.36M	89.90M	138.24M	55.77M
Cash Flow
Free Cash Flow	-20.88M	-22.39M	-46.41M	-61.24M	-46.65M	-37.74M
Operating Cash Flow	-16.82M	-16.95M	-41.59M	-58.85M	-44.71M	-35.20M
Investing Cash Flow	27.57M	-99.31M	-22.13M	39.95M	-81.91M	15.59M
Financing Cash Flow	5.18M	123.32M	61.52M	6.33M	137.34M	25.24M

RxSight Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.73
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 8.73 is above the 20-day moving average (MA) of 7.94, below the 50-day MA of 9.86, and below the 200-day MA of 23.87, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 52.16 is Neutral, neither overbought nor oversold. The STOCH value of 91.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RXST.

RxSight Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AXGN	70 Outperform	$706.75M	―	-4.48%	―	17.17%	72.68%
SIBN	61 Neutral	$668.25M	―	-14.18%	―	22.93%	43.83%
BVS	57 Neutral	$605.21M	―	-0.10%	―	5.08%	99.38%
OFIX	54 Neutral	$572.67M	―	-24.63%	―	4.84%	0.85%
CBLL	52 Neutral	$432.27M	―	26.25%	―	―	―
RXST	47 Neutral	$360.47M	―	-11.66%	―	27.68%	20.87%
Sector *	46 Neutral	C$209.14M	-0.30	-24.12%	3.18%	19.38%	-2.35%

RxSight Corporate Events

RxSight Expands Board with New Director Appointment

On July 31, 2025, RxSight, Inc. expanded its board of directors by appointing Raymond W. Cohen, an experienced medical technology executive, as a Class I director. Cohen’s extensive industry expertise is expected to help RxSight strengthen its position in the premium intraocular lens market and accelerate growth in revenue and profits. His previous leadership roles, including the successful sale of Axonics, Inc. and SoniVie Ltd. to Boston Scientific, highlight his capability to drive company growth and expansion.

RxSight Re-elects Directors at Annual Meeting

RxSight held its 2025 Annual Meeting of Stockholders on June 3, 2025, where approximately 79.2% of the outstanding shares were represented. During the meeting, three Class I directors, Ron Kurtz, M.D., J. Andy Corley, and Juliet Tammenoms Bakker, were re-elected to serve until the 2028 annual meeting. Additionally, the stockholders approved the executive compensation and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.