RxSight, Inc. Reports Second Quarter 2026 Results and Provides Update on 2026 Outlook
Rhea-AI Summary
RxSight (NASDAQ: RXST) reported Q2 2026 revenue of $33.7 million, essentially flat year over year, including $6.5 million from its new strategic collaboration with Alcon. Product sales were $27.2 million, down 19%, with 24,917 Light Adjustable Lens units and 12 Light Delivery Devices sold.
Excluding collaboration revenue, gross margin was 71.2% versus 74.9% a year ago; including it, gross margin was 76.7%. Operating expenses were $39.7 million. Net loss was $12.1 million (basic and diluted $(0.29) per share). Adjusted net loss was $4.6 million, or $(0.11) per share. Cash, cash equivalents and short-term investments totaled $208.8 million on June 30, 2026.
RxSight appointed Aziz Mottiwala as President and CEO, entered a collaboration with Alcon that includes up to $200 million in upfront and milestone payments plus future royalties, and announced development of a next-generation Light Adjustable Technology platform. In connection with the leadership transition, the company withdrew its 2026 guidance and plans to resume formal guidance in early 2027.
Positive
- Total Q2 2026 revenue $33.7 million, supported by collaboration
- New Alcon collaboration with up to $200 million milestone potential
- $6.5 million collaboration revenue recognized in Q2 2026
- Q2 2026 total gross margin including collaboration at 76.7%
- Strong liquidity with $208.8 million in cash and short-term investments
- Appointed new CEO Aziz Mottiwala and launched next-generation LAL platform initiative
Negative
- Q2 2026 product sales $27.2 million, down 19% year over year
- Underlying gross margin ex-collaboration fell to 71.2% from 74.9%
- Net loss of $12.1 million in Q2 2026, slightly higher year over year
- Adjusted net loss widened to $4.6 million from $3.2 million
- 2026 financial guidance withdrawn amid leadership transition
- Cash and short-term investments declined from $228.1 million at year-end 2025 to $208.8 million
News Explained
The release now shows the Alcon collaboration’s balance-sheet entries alongside reported liquidity.
The Q2 release shows the entered Alcon collaboration reflected in a receivable from the collaboration partner as of
The approximately
The release does not change the previously disclosed collaboration structure or report an equity issuance; its new balance-sheet detail is the recorded receivable and refund liability.
The next quarterly filing should be checked for changes in the “Receivable from collaboration partner” and “Refund liability” line items.
Market Reaction – RXST
Following this news, RXST has declined 0.64%, reflecting a mild negative market reaction. Our momentum scanner has triggered 2 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $6.25.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 06 | Q1 earnings report | Negative | -14.4% | Revenue declined year over year and the company reported a substantial quarterly net loss. |
| Jan 11 | Q4 earnings update | Positive | +14.1% | Preliminary full-year revenue exceeded prior guidance and lens sales increased year over year. |
| Nov 05 | Q3 earnings report | Positive | +3.2% | Gross margin improved and full-year revenue and margin guidance were raised or narrowed. |
| Aug 07 | Q2 earnings report | Negative | -7.7% | Revenue declined year over year despite higher lens procedure volume and improved gross margin. |
| Jul 08 | Q2 earnings update | Negative | -37.8% | Preliminary revenue declined and full-year guidance was significantly reduced from prior expectations. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events generally aligned with subsequent price reactions, including two sharp declines after negative operating updates.
Key Terms
intraocular lens medical
non-gaap financial measure financial
restricted cash financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
ALISO VIEJO, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- RxSight, Inc. (NASDAQ: RXST) today reported financial results for the quarter ended June 30, 2026, and provided an update on its 2026 financial outlook.
Second Quarter 2026 Highlights
- Total company Q2 revenue of
$33.7 million , which includes$6.5 million in revenue recognized from the RxSight Alcon strategic collaboration - Q2 product sales of
$27.2 million including:- 24,917 Light Adjustable Lens (LAL) units;
- 12 Light Delivery Devices (LDD) units
- Cash, cash equivalents and short-term investments of approximately
$209 million as of June 30, 2026
Strategic Highlights
RxSight highlighted the following recent developments that position the company for long-term success:
- Appointed eye care industry leader, Aziz Mottiwala, as President and Chief Executive Officer
- Entered into a strategic collaboration with Alcon to develop and commercialize light-adjustable presbyopia-correcting intraocular lenses with up to
$200 million upfront and milestone payments and significant future royalty potential - Formally announced development of the next-generation RxSight Light Adjustable Technology platform, including new LAL, LAL+ and LAL Toric lenses intended to improve workflow and reduce required postoperative office visits
- In connection with the leadership transition, withdrew 2026 guidance; will resume formal guidance in early 2027
“It is a privilege to join RxSight and to work alongside the talented team that pioneered an entirely new category in cataract surgery with the only commercially available IOL platform that enables physicians to adjust and personalize vision after surgery,” said Aziz Mottiwala, President and Chief Executive Officer of RxSight. “The opportunity ahead is significant, and our immediate priority is to strengthen commercial execution, deepen adoption across our installed base and translate the value of adjustability into durable growth. To support those priorities, I have commenced a comprehensive review of the business. While underlying trends remain generally consistent with our prior expectations, withdrawing 2026 guidance gives us the flexibility to establish the right operating plan and focus our resources on the core business, our pipeline and the Alcon collaboration.”
Second Quarter Financial Results
In the second quarter of 2026, total revenue was
Excluding the impact from the Alcon collaboration, second quarter gross margin of
Total operating expenses for the second quarter of 2026 were
In the second quarter, the company reported a net loss of
As of June 30, 2026, cash, cash equivalents and short-term investments totaled
Conference Call
On Wednesday, August 5, 2026, at 1:30 p.m. Pacific Time, the company will host a conference call to discuss its second quarter 2026 financial results. To participate in the conference call, please dial (800) 715-9871 or (646) 307-1963 and enter the conference code: 1245159. The call will also be broadcast live in listen-only mode via a link on the company’s investor relations website at https://investors.rxsight.com/. An archived recording of the call will be available through the same link shortly after its completion.
About RxSight, Inc.
RxSight, Inc. is an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery. The RxSight Light Adjustable Lens system, comprised of the RxSight Light Adjustable Lens (LAL/LAL+, collectively the “LAL”), RxSight Light Delivery Device (LDD) and accessories, is the first and only commercially available intraocular lens (IOL) technology that can be adjusted after surgery, enabling doctors to customize and deliver high-quality vision to patients after cataract surgery. Additional information about RxSight can be found at www.rxsight.com.
Forward-Looking Statements
This press release contains forward-looking statements, including, without limitations, statements regarding the company’s expectations related to underlying business trends; the company’s comprehensive review of the business; the company’s ability to strengthen commercial execution, deepen adoption across its installed base and translate the value of adjustability into durable growth; the development and implementation of the company’s appropriate operating plan; the allocation of resources to the company’s core business, pipeline and collaboration with Alcon; the anticipated benefits of withdrawing the company’s 2026 financial guidance; and the company’s ability to realize the full potential of its technology for patients and practices. Such statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "projects," "potential," or "continue" or the negative of such terms and other similar terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors, including the risk factors that may be found in the section entitled Part II, Item 1A (Risk Factors) in the company’s Quarterly Report on Form 10-Q for the three months ended June 30, 2026, filed with the Securities and Exchange Commission (SEC) on or about the date hereof, and the other documents that RxSight may file from time to time with the SEC. These and other factors may cause our actual results to differ materially from any forward-looking statement. RxSight undertakes no obligation to update any of the forward-looking statements after the date of this press release to conform those statements to reflect the occurrence of unanticipated events, except as required by applicable law.
RxSight, Inc., the RxSight Light Adjustable Lens Technology, LAL, LAL+, and LDD are trademarks of RxSight, Inc.
Investor Relations Contact:
Oliver Moravcevic
VP, Investor Relations
omoravcevic@rxsight.com
| RxSight, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) (In thousands, except share and per share amounts) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue: | ||||||||||||||||
| Product sales | $ | 27,241 | $ | 33,637 | $ | 58,134 | $ | 71,531 | ||||||||
| License and collaboration revenue | 6,500 | — | 6,500 | — | ||||||||||||
| Total Revenue | 33,741 | 33,637 | 64,634 | 71,531 | ||||||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of sales | 7,855 | 8,447 | 15,250 | 18,013 | ||||||||||||
| Selling, general and administrative | 30,419 | 28,976 | 62,274 | 57,611 | ||||||||||||
| Research and development | 9,237 | 10,217 | 18,709 | 20,584 | ||||||||||||
| Total costs and expenses | 47,511 | 47,640 | 96,233 | 96,208 | ||||||||||||
| Loss from operations | (13,770 | ) | (14,003 | ) | (31,599 | ) | (24,677 | ) | ||||||||
| Other income (expense), net: | ||||||||||||||||
| Interest expense | (3 | ) | (5 | ) | (6 | ) | (11 | ) | ||||||||
| Interest and other income | 1,764 | 2,254 | 3,718 | 4,762 | ||||||||||||
| Loss before income taxes | (12,009 | ) | (11,754 | ) | (27,887 | ) | (19,926 | ) | ||||||||
| Income tax expense | 88 | 32 | 94 | 50 | ||||||||||||
| Net loss | $ | (12,097 | ) | $ | (11,786 | ) | $ | (27,981 | ) | $ | (19,976 | ) | ||||
| Other comprehensive loss: | ||||||||||||||||
| Unrealized loss on short-term investments | (5 | ) | (146 | ) | (125 | ) | (303 | ) | ||||||||
| Foreign currency translation gain | 13 | 14 | 13 | 20 | ||||||||||||
| Total other comprehensive gain (loss) | 8 | (132 | ) | (112 | ) | (283 | ) | |||||||||
| Comprehensive loss | $ | (12,089 | ) | $ | (11,918 | ) | $ | (28,093 | ) | $ | (20,259 | ) | ||||
| Net loss per share: | ||||||||||||||||
| Basic & diluted | $ | (0.29 | ) | $ | (0.29 | ) | $ | (0.68 | ) | $ | (0.49 | ) | ||||
| Weighted-average shares used in computing net loss per share: | ||||||||||||||||
| Attributable to common stock, basic & diluted | 41,490,889 | 40,743,786 | 41,399,010 | 40,627,363 | ||||||||||||
| RxSight, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands, except share and per share amounts) | ||||||||
| June 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 13,352 | $ | 19,949 | ||||
| Short-term investments | 195,447 | 208,179 | ||||||
| Accounts receivable, net | 18,519 | 23,383 | ||||||
| Inventories | 37,117 | 31,559 | ||||||
| Prepaid and other current assets | 2,961 | 4,389 | ||||||
| Receivable from collaboration partner | 60,000 | — | ||||||
| Total current assets | 327,396 | 287,459 | ||||||
| Property and equipment, net | 14,039 | 13,056 | ||||||
| Operating leases right-of-use assets | 9,491 | 9,959 | ||||||
| Restricted cash | 750 | 750 | ||||||
| Other assets | 1,024 | 590 | ||||||
| Total assets | $ | 352,700 | $ | 311,814 | ||||
| Liabilities and stockholders' equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 6,345 | $ | 5,296 | ||||
| Accrued expenses and other current liabilities | 15,553 | 16,533 | ||||||
| Lease liabilities | 1,664 | 1,162 | ||||||
| Deferred revenue, current | 6,882 | 3,262 | ||||||
| Refund liability | 50,000 | — | ||||||
| Total current liabilities | 80,444 | 26,253 | ||||||
| Long-term lease liabilities | 8,916 | 9,878 | ||||||
| Total liabilities | 89,360 | 36,131 | ||||||
| Commitments and contingencies (Note 8) | ||||||||
| Stockholders' equity: | ||||||||
| Common stock, | 41 | 41 | ||||||
| Preferred stock, | — | — | ||||||
| Additional paid-in capital | 952,378 | 936,628 | ||||||
| Accumulated other comprehensive (loss) income | (59 | ) | 53 | |||||
| Accumulated deficit | (689,020 | ) | (661,039 | ) | ||||
| Total stockholders' equity | 263,340 | 275,683 | ||||||
| Total liabilities and stockholders' equity | $ | 352,700 | $ | 311,814 | ||||
Supplemental Information on Gross Margin
Reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the three months ended June 30, 2026 and 2025 are as follows:
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||
| Gross Margin | Product | Collaboration | Total | Product | Collaboration | Total | |||||||||||||
| Sales | $ | 27,241 | $ | 6,500 | $ | 33,741 | $ | 33,637 | $ | — | $ | 33,637 | |||||||
| Cost of sales | 7,855 | — | 7,855 | 8,447 | — | 8,447 | |||||||||||||
| Gross profit | $ | 19,386 | $ | 6,500 | $ | 25,886 | $ | 25,190 | $ | — | $ | 25,190 | |||||||
| Gross margin % | 71.2 | % | 100.0 | % | 76.7 | % | 74.9 | % | 0.0 | % | 74.9 | % | |||||||
Reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the six months ended June 30, 2026 and 2025 are as follows:
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||
| 2026 | 2025 | ||||||||||||||||||
| Gross Margin | Product | Collaboration | Total | Product | Collaboration | Total | |||||||||||||
| Sales | $ | 58,134 | $ | 6,500 | $ | 64,634 | $ | 71,531 | $ | — | $ | 71,531 | |||||||
| Cost of sales | 15,250 | — | 15,250 | 18,013 | — | 18,013 | |||||||||||||
| Gross profit | $ | 42,884 | $ | 6,500 | $ | 49,384 | $ | 53,518 | $ | — | $ | 53,518 | |||||||
| Gross margin % | 73.8 | % | 100.0 | % | 76.4 | % | 74.8 | % | 0.0 | % | 74.8 | % | |||||||
Non-GAAP Financial Measures
To supplement our unaudited condensed consolidated financial statements presented under generally accepted accounting principles in the United States (“GAAP”), we believe certain non-GAAP measures, including adjusted net earnings (loss), and adjusted net earnings (loss) per share, basic and diluted, provide useful information to investors and are useful in evaluating our operating performance. For example, we exclude stock-based compensation expense because this expense is non-cash in nature and we believe excluding this item provides meaningful supplemental information regarding our operational performance and allows investors the ability to make more meaningful comparisons between our operating results and those of other companies.
We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business.
Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share
Adjusted net earnings (loss) is a non-GAAP financial measure that we define as net earnings (loss) adjusted for stock-based compensation. We believe adjusted net earnings (loss) provides investors with useful information on period-to-period performance as evaluated by management and comparison with our past financial performance and is useful in evaluating our operating performance compared to that of other companies in our industry, as this metric generally eliminates the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance.
Reconciliations of net earnings (loss) to adjusted net earnings (loss) and the presentation of adjusted net earnings (loss) per share, basic and diluted, are as follows:
| Three months ended June 30, | Six months ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Common Stock | ||||||||||||||||
| Numerator: | ||||||||||||||||
| Net loss available to stockholders, basic and diluted | $ | (12,097 | ) | $ | (11,786 | ) | $ | (27,982 | ) | $ | (19,976 | ) | ||||
| Add: | ||||||||||||||||
| Stock-based compensation | 7,464 | 8,547 | 15,410 | 15,687 | ||||||||||||
| Adjusted net earnings (loss) income available to common stockholders, basic and diluted: | $ | (4,633 | ) | $ | (3,239 | ) | $ | (12,572 | ) | $ | (4,288 | ) | ||||
| Denominator: | ||||||||||||||||
| Weighted-average shares outstanding, basic | 41,490,889 | 40,743,786 | 41,399,010 | 40,627,363 | ||||||||||||
| Weighted-average shares outstanding, diluted | 41,490,889 | 42,258,193 | 41,399,010 | 40,627,363 | ||||||||||||
| Adjusted net earnings (loss) per share, basic | $ | (0.11 | ) | $ | (0.08 | ) | $ | (0.30 | ) | $ | (0.11 | ) | ||||
| Adjusted net earnings (loss) per share, diluted | $ | (0.11 | ) | $ | (0.08 | ) | $ | (0.30 | ) | $ | (0.11 | ) | ||||
