RxSight (RXST) AI Stock Analysis

• Market Cap: $577.45M
• Dividend Yield: N/A
• Average Volume (3M): 905.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.50
• Revenue Growth: 46.69%
• EPS Growth: 46.68%
• Country: US
• Employees: 498
• Sector: Healthcare
• Sector Strength: 59
• Industry: Medical - Devices
• EPS (TTM): -0.20
• Shares Outstanding: 40,636,982
• 10 Day Avg. Volume: 630,160
• 30 Day Avg. Volume: 905,050
• PEG Ratio: -0.15
• Price to Book (P/B): 3.90
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.72
• Enterprise Value/Market Cap: 0.66
• Enterprise Value/Revenue: 0.67
• Enterprise Value/Gross Profit: 3.60
• Enterprise Value/Ebitda: -3.52
• 1Y Price Target: $22.56
• Price Target Upside: 58.76% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 9

• Rating: 44 Neutral
• Price Target: $14.50 ▲(2.04%Upside)

The overall stock score is primarily influenced by significant financial performance challenges, including ongoing unprofitability and negative cash flows. Technical indicators also suggest bearish momentum, while valuation metrics are weak due to a negative P/E ratio. The earnings call added some positive elements with strong revenue growth and customer satisfaction, but these were overshadowed by the revision of revenue guidance and market challenges.

Positive Factors

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 Position

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.

Valuation

RXST's valuation appears very attractive, trading at a significant discount to its peers, with above-average growth, a strong moat, and high gross margins.

Negative Factors

Competition

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

Revenue Performance

RXST reported 1Q25 revenue of $37.9M, which was below initial consensus estimates by around 4.7%.

Utilization

Overall utilization per system per month decreased by 6% year-over-year.

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 demonstrates strong revenue growth and a solid balance sheet with low leverage. However, persistent profitability issues and negative cash flows present significant challenges.

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
158.40M	139.93M	89.08M	49.01M	22.59M	14.68M
	Gross Profit
106.59M	98.94M	53.77M	21.33M	4.52M	1.71M
	EBIT
-36.86M	-36.86M	-50.09M	-63.32M	-52.79M	-35.41M
	EBITDA
-26.49M	-23.76M	-41.04M	-57.78M	-41.01M	32.15M
	Net Income Common Stockholders
-26.55M	-27.45M	-48.61M	-66.76M	-48.69M	27.57M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
229.34M	237.22M	127.18M	105.80M	159.33M	68.97M
	Total Assets
313.04M	318.56M	182.55M	150.16M	192.72M	100.68M
	Total Debt
12.04M	12.30M	3.01M	44.99M	44.93M	30.75M
	Net Debt
-15.96M	-4.41M	-6.68M	33.16M	20.57M	16.76M
	Total Liabilities
33.73M	37.33M	22.19M	60.26M	54.48M	398.21M
	Stockholders Equity
279.32M	281.24M	160.36M	89.90M	138.24M	-297.53M
Cash Flow		Free Cash Flow
-20.60M	-22.39M	-46.41M	-61.24M	-46.65M	-37.74M
	Operating Cash Flow
-16.55M	-16.95M	-41.59M	-58.85M	-44.71M	-35.20M
	Investing Cash Flow
-102.73M	-99.31M	-22.13M	39.95M	-81.91M	15.59M
	Financing Cash Flow
114.67M	123.32M	61.52M	6.33M	137.34M	25.24M

RxSight Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.21
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 14.21 is below the 20-day moving average (MA) of 15.46, below the 50-day MA of 14.93, and below the 200-day MA of 33.72, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 40.63 is Neutral, neither overbought nor oversold. The STOCH value of 11.51 is Positive, 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
SIBN	72 Outperform	$742.34M	―	-15.96%	―	22.60%	41.26%
CBLL	59 Neutral	$657.08M	―	26.25%	―	―	―
AXGN	56 Neutral	$457.26M	―	-7.22%	―	18.81%	67.41%
Sector *	54 Neutral	$5.38B	3.27	-45.10%	3.30%	16.81%	0.02%
OFIX	49 Neutral	$430.99M	―	-27.82%	―	5.85%	-8.92%
BVS	47 Neutral	$551.19M	―	-19.79%	―	8.60%	-42.76%
RXST	44 Neutral	$577.45M	―	-11.98%	―	46.69%	46.68%

RxSight Corporate Events

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.

The most recent analyst rating on (RXST) stock is a Buy with a $73.00 price target. To see the full list of analyst forecasts on RxSight stock, see the RXST Stock Forecast page.