RxSight, Inc. Reports Third Quarter 2026 Results

A $60 million Alcon collaboration payment contributed to liquidity, while the balance sheet included a $50 million refund liability.

Rhea-AI Summary

RxSight (NASDAQ: RXST) reported third-quarter 2026 revenue of $24.6 million, down from the prior-year period as losses widened. Revenue fell 19% year over year, primarily reflecting competitive pressures, and included 23,128 Light Adjustable Lens units. Gross margin declined to 73.6% from 79.9%, reflecting higher inventory reserves and costs, partly offset by product mix. Net loss widened to $16.224 million, or $0.39 per share, from $9.816 million, or $0.24 per share.

Cash, cash equivalents and short-term investments totaled $254.7 million at September 30, including $60 million received during the quarter from the Alcon collaboration. Collaboration revenue was $40,000, and the agreement's initial 120-day period was complete. RxSight completed organizational restructuring intended to reduce core operating expenses and is advancing a commercial transformation that includes nearly doubling its sales force.

5 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 13 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointAlcon collaboration funding contributed $60 million to quarter-end cash, cash equivalents and short-term investments of $254.7 million. 30% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Commercial transformation includes nearly doubling the sales force to support customer engagement and practice support.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Organizational restructuring is complete; RxSight expects core operating expense savings.
• Minor pointAlcon collaboration's initial 120-day period is complete.
• Minor pointNine-month research and development expense decreased to $27.922 million from $29.644 million a year earlier.

Negative

• Major pointRefund liability stood at $50 million at September 30, 2026, versus none at December 31, 2025.
• Moderate pointThird-quarter revenue fell 19% year over year to $24.6 million, primarily reflecting competitive pressures.
• Moderate pointThird-quarter gross margin fell to 73.6% from 79.9%, reflecting higher inventory reserves and costs.
• Moderate pointThird-quarter net loss widened to $16.224 million, or $0.39 per share, from $9.816 million, or $0.24.
• Minor pointThird-quarter adjusted net loss widened to $8.590 million, or $0.21 per share, from $1.708 million, or $0.04.

8 minor points

• Minor pointThird-quarter operating loss widened to $18.518 million from $12.178 million a year earlier.
• Minor pointThird-quarter total costs and expenses rose to $43.104 million from $42.518 million a year earlier.
• Minor pointNine-month revenue declined to $89.220 million from $101.871 million a year earlier.
• Minor pointNine-month gross margin declined to 75.6% from 76.3% a year earlier.
• Minor pointNine-month net loss widened to $44.206 million, or $1.07 per share, from $29.792 million, or $0.73.
• Minor pointNine-month adjusted net loss widened to $21.162 million, or $0.51 per share, from $5.997 million, or $0.15.
• Minor pointNine-month operating loss widened to $50.118 million from $36.854 million a year earlier.
• Minor pointNine-month selling, general and administrative expense rose to $89.678 million from $84.956 million a year earlier.

News Explained

At September 30, the balance sheet listed a refund liability alongside $254.7 million in cash and short-term investments.

RxSight has reported its third-quarter results; the balance sheet records 41,927,222 shares issued and outstanding at September 30, 2026, versus 41,242,005 at December 31, 2025. A holder keeping the same number of shares therefore owns a smaller fraction of the company.

The September 30, 2026 balance sheet also lists a refund liability alongside $254.7 million in cash, cash equivalents and short-term investments.

Argus Nov 4 session 75 alerts

+8.71% close to close 4.0x rel. volume Open Argus

Details

Market move: RXST +8.71% in the Nov 4 session. 3Q26 earnings report

+29.6% Peak Tracked

-2.6% Trough Tracked

$226.48M Mkt Cap at Peak Alert

On Nov 4, the first trading day after this news, RXST closed 8.71% above the previous close. Argus tracked a peak move of +29.6% during that session. Argus tracked a trough of -2.6% from its starting point during tracking. Our momentum scanner recorded 75 alerts for this stock that day. That session’s volume was 4.0x the stock’s average daily volume.

Data tracked by StockTitan Argus for the Nov 4 session.

Key Figures

Total revenue: $24.6 million Light Adjustable Lens units: 23,128 units Gross margin: 73.6% +4 more

Total revenue

$24.6 million

Q3 2026; down 19% year over year

Light Adjustable Lens units

23,128 units

Q3 2026

Gross margin

73.6%

Q3 2026; compared with 79.9% in the prior-year period

Net loss

$(16.2) million

Q3 2026; compared with $(9.8) million in Q3 2025

Adjusted net loss

$(8.6) million

Q3 2026; compared with $(1.7) million in Q3 2025

Cash, cash equivalents and short-term investments

$254.7 million

As of September 30, 2026

Alcon collaboration cash received

$60 million

Received in Q3 2026

Previous Earnings Reports

2 past events · Latest: Aug 05

Same Type 2 events

1. Aug 05

   Q2 earnings results

   24h Move

   -3.3%

   Revenue was essentially flat, product sales fell 19%, and Alcon collaboration revenue was $6.5 million.

2. Nov 05

   Q3 earnings results

   24h Move

   +3.2%

   Revenue fell 14% year over year, while gross margin improved and full-year guidance was revised.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gaap, non-gaap financial measures, stock-based compensation, intraocular lens

4 terms

gaap financial

"presented under generally accepted accounting principles in the United States ("GAAP")"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

non-gaap financial measures financial

"certain non-GAAP measures, including adjusted net loss"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

stock-based compensation financial

"we exclude stock-based compensation expense"

Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.

View in glossary

intraocular lens medical

"commercially available intraocular lens (IOL) technology"

An intraocular lens is an artificial lens implanted inside the eye to replace the eye’s natural lens, most commonly after it becomes cloudy from cataracts. Think of it as swapping a fogged camera lens for a clear, engineered one; it restores or improves vision and can be tailored for distance, reading, or astigmatism. Investors care because demand, pricing, regulatory approval, and insurance coverage for these medical devices drive revenue and profit potential for ophthalmic device makers and healthcare providers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ALISO VIEJO, Calif., Nov. 03, 2026 (GLOBE NEWSWIRE) -- RxSight, Inc. (NASDAQ: RXST) today reported financial results for the quarter ended September 30, 2026.

Third Quarter 2026 Financial Highlights

• Total revenue of $24.6 million primarily driven by 23,128 Light Adjustable Lens™ (LAL™) units
• Cash, cash equivalents and short-term investments of $254.7 million as of September 30, 2026, including the $60 million received in the third quarter in connection with the Alcon collaboration

Strategic Highlights

The company highlighted the following recent strategic developments:

• Strengthened commercial leadership with the appointments of experienced eye care leaders Taryn Conway as Chief Commercial Officer and Frank Shields as EVP of Sales and Commercial Strategy
• Advancing U.S. commercial transformation, including nearly doubling its sales force to support deeper customer engagement and enhanced practice support
• Completed significant organizational restructuring to better align resources with strategic priorities and drive meaningful operating expense savings in the core business
• Advancing the Alcon collaboration, with the partnership off to a strong start and the initial 120-day period under the agreement now complete

“Since I joined last quarter, the team has moved quickly and accomplished a great deal in a short period of time,” said Aziz Mottiwala, President and Chief Executive Officer of RxSight. “We have strengthened our commercial organization and leadership, made progress across key long-term growth initiatives, and taken decisive actions to align our cost structure with our priorities. While there is more work ahead, we remain focused on execution. Based on our progress, I am confident we are positioning our company for long-term success.”

Third Quarter Financial Results

In the third quarter of 2026, total revenue was $24.6 million, down 19% from the prior-year period, primarily reflecting ongoing competitive pressures. Consistent with the early stages of the program, revenue recognized under the company’s strategic collaboration with Alcon was minimal during the quarter.

Third-quarter gross margin was 73.6%, compared with 79.9% in the prior-year period, primarily reflecting an increase in inventory reserves and higher inventory costs for LAL and LDD, partially offset by favorable product mix. The Alcon collaboration had an immaterial impact on gross margin during the quarter.

Total cost and expenses for the third quarter of 2026 were $43.1 million relatively consistent versus $42.5 million in the year-ago period.

In the third quarter, the company reported a net loss of $(16.2) million, or $(0.39) per basic and diluted share, compared to a net loss of $(9.8) million, or $(0.24) per basic and diluted share in the third quarter of 2025. Adjusted net loss in the third quarter of 2026 was $(8.6) million, or $(0.21) per basic and diluted share, compared to an adjusted net loss of $(1.7) million, or $(0.04) per basic and diluted share in the third quarter of 2025.

As of September 30, 2026, cash, cash equivalents and short-term investments totaled $254.7 million, including the $60 million received in the third quarter in connection with the Alcon collaboration.

Conference Call

On Tuesday, November 3, 2026, at 1:30 p.m. Pacific Time, the company will host a conference call to discuss its third quarter 2026 financial results. To participate in the conference call, please dial (800) 715-9871 or (646) 307-1963 and enter the conference code: 8782462. 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 Light Adjustable Lens™ system, comprised of the RxSight Light Adjustable Lens™ products (LAL™ and 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 business, strategies and prospects and positioning for long-term success. 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 September 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 September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Revenue:
Product sales		$	24,546			$	30,340			$	82,680			$	101,871
License and collaboration revenue			40				—				6,540				—
Total revenue			24,586				30,340				89,220				101,871
Costs and expenses:
Cost of sales			6,487				6,113				21,738				24,125
Selling, general and administrative			27,404				27,345				89,678				84,956
Research and development			9,213				9,060				27,922				29,644
Total costs and expenses			43,104				42,518				139,338				138,725
Loss from operations			(18,518	)			(12,178	)			(50,118	)			(36,854	)
Other income (expense), net:
Interest expense			(3	)			(4	)			(9	)			(14	)
Interest and other income			2,325				2,376				6,043				7,137
Loss before income taxes			(16,196	)			(9,806	)			(44,084	)			(29,731	)
Income tax expense			28				10				122				61
Net loss		$	(16,224	)		$	(9,816	)		$	(44,206	)		$	(29,792	)
Other comprehensive (loss) gain:
Unrealized (loss) gain on short-term investments			(59	)			178				(184	)			(123	)
Foreign currency translation gain (loss)			18				(1	)			31				18
Total other comprehensive (loss) gain			(41	)			177				(153	)			(105	)
Comprehensive loss		$	(16,265	)		$	(9,639	)		$	(44,359	)		$	(29,897	)
Net loss per share:
Basic & diluted		$	(0.39	)		$	(0.24	)		$	(1.07	)		$	(0.73	)
Weighted-average shares used in computing net loss per share:
Attributable to common stock, basic & diluted			41,705,436				40,965,219				41,502,275				40,741,219

RxSIGHT, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts)
	September 30,				December 31,
	2026				2025
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	66,717			$	19,949
Short-term investments		187,966				208,179
Accounts receivable, net		16,998				23,383
Inventories		39,593				31,559
Prepaid and other current assets		3,530				4,389
Total current assets		314,804				287,459
Property and equipment, net		14,649				13,056
Operating leases right-of-use assets		9,246				9,959
Restricted cash		750				750
Other assets		969				590
Total assets	$	340,418			$	311,814
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	3,423			$	5,296
Accrued expenses and other current liabilities		15,189				16,274
Deferred revenue, current		4,496				3,521
Lease liabilities		1,844				1,162
Refund liability		50,000				—
Total current liabilities		74,952				26,253
Long-term lease liabilities		8,476				9,878
Deferred revenue, noncurrent		2,079				—
Total liabilities		85,507				36,131
Stockholders' equity:
Common stock, $0.001 par value, 900,000,000 shares authorized, 41,927,222 shares issued and outstanding as of September 30, 2026 and 41,242,005 shares issued and outstanding as of December 31, 2025		42				41
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares issued and outstanding as of September 30, 2026 and December 31, 2025		—				—
Additional paid-in capital		960,213				936,628
Accumulated other comprehensive (loss) income		(100	)			53
Accumulated deficit		(705,244	)			(661,039	)
Total stockholders' equity		254,911				275,683
Total liabilities and stockholders' equity	$	340,418			$	311,814

Supplemental Information on Gross Margin

A reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the three months ended September 30, 2026 and 2025 are as follows:

	Three Months Ended September 30,										Three Months Ended September 30,
	2026										2025
Gross Margin	Product			Collaboration			Total				Product			Collaboration			Total
Sales	$	24,546		$	40		$	24,586			$	30,340		$	—		$	30,340
Cost of sales		6,487			—			6,487				6,113			—			6,113
Gross profit	$	18,059		$	40		$	18,099			$	24,227		$	—		$	24,227
Gross margin %		73.6	%		100.0	%		73.6	%			79.9	%		0.0	%		79.9	%

A reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the nine months ended September 30, 2026 and 2025 are as follows:

	Nine Months Ended September 30,										Nine Months Ended September 30,
	2026										2025
Gross Margin	Product			Collaboration			Total				Product			Collaboration			Total
Sales	$	82,680		$	6,540		$	89,220			$	101,871		$	—		$	101,871
Cost of sales		21,738			—			21,738				24,125			—			24,125
Gross profit	$	60,942		$	6,540		$	67,482			$	77,746		$	—		$	77,746
Gross margin %		73.7	%		100.0	%		75.6	%			76.3	%		0.0	%		76.3	%

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 loss, and adjusted net 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 Loss and Adjusted Net Loss Per Share

Adjusted net loss is a non-GAAP financial measure that we define as net loss adjusted for stock-based compensation. We believe adjusted net 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.

A reconciliation of net loss to adjusted net loss and the presentation of adjusted net loss per share, basic and diluted, are as follows:

		Three months ended September 30,								Nine months ended September 30,
		2026				2025				2026				2025
Common Stock
Numerator:
Net loss available to stockholders, basic and diluted		$	(16,224	)		$	(9,816	)		$	(44,206	)		$	(29,792	)
Add:
Stock-based compensation			7,634				8,108				23,044				23,795
Adjusted net loss available to common stockholders, basic and diluted:		$	(8,590	)		$	(1,708	)		$	(21,162	)		$	(5,997	)
Denominator:
Weighted-average shares outstanding, basic and diluted			41,705,436				40,965,219				41,502,275				40,741,219
Adjusted net loss per share, basic and diluted		$	(0.21	)		$	(0.04	)		$	(0.51	)		$	(0.15	)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were RxSight's third-quarter 2026 revenue and earnings?

RxSight reported $24.6 million in revenue and a net loss of $16.224 million, or $0.39 per basic and diluted share. Revenue declined 19% year over year. The prior-year quarter had a net loss of $9.816 million, or $0.24 per basic and diluted share.

How much cash did RxSight have after the Alcon collaboration payment?

RxSight had $254.7 million in cash, cash equivalents and short-term investments at September 30, 2026. That balance included $60 million received during the third quarter in connection with the Alcon collaboration.

How does RxSight calculate adjusted net loss?

RxSight calculates adjusted net loss by excluding stock-based compensation from net loss. The third-quarter 2026 adjustment was $7.634 million. This non-GAAP measure supplements, rather than replaces, results prepared under generally accepted accounting principles.