RxSight (NASDAQ: RXST) Q2 revenue $33.7M, guidance withdrawn
Rhea-AI Filing Summary
RxSight, Inc. reported second-quarter 2026 revenue of $33.7 million, including $6.5 million from its strategic collaboration with Alcon and $27.2 million of product sales. Product sales declined 19% from a year earlier, reflecting competitive trialing and softer consumer sentiment, and included 24,917 Light Adjustable Lens units and 12 Light Delivery Devices.
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, and the company posted a net loss of $12.1 million, or $0.29 per share, with adjusted net loss of $4.6 million, or $0.11 per share. Cash, cash equivalents and short-term investments totaled $208.8 million as of June 30, 2026.
RxSight appointed Aziz Mottiwala as President and Chief Executive Officer, entered a strategic collaboration with Alcon featuring up to $200 million in potential upfront and milestone payments plus future royalties, and advanced next-generation Light Adjustable Lens technologies. In connection with the leadership transition, it withdrew 2026 guidance and plans to resume formal guidance in early 2027.
Positive
- Entered a strategic collaboration with Alcon featuring up to $200 million in potential upfront and milestone payments plus significant future royalty potential around light-adjustable presbyopia-correcting intraocular lenses.
Negative
- Second-quarter 2026 product sales fell 19% year over year to $27.2 million, reflecting heightened competitive trialing and continued pressure on consumer sentiment.
- The company withdrew its 2026 financial guidance in connection with the leadership transition, reducing near-term visibility until formal guidance resumes in early 2027.
Filing Explained
As of
8-K Event Classification
Key Figures
Key Terms
strategic collaboration financial
Light Adjustable Lens (LAL) technical
intraocular lens (IOL) medical
refund liability financial
non-GAAP financial measures financial
Earnings Snapshot
The company withdrew its 2026 financial guidance and expects to resume formal guidance in early 2027 following a comprehensive business review.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were RxSight (RXST) Q2 2026 revenues and earnings?
How did RxSight (RXST) product sales perform in Q2 2026 versus 2025?
What are the key terms of RxSight (RXST)'s collaboration with Alcon?
Why did RxSight (RXST) withdraw its 2026 financial guidance?
What is RxSight (RXST)'s cash position and balance sheet strength as of June 30, 2026?
Who is the new CEO of RxSight (RXST) and what are the strategic priorities?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 5, 2026, RxSight, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the three months ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information furnished in this Current Report on Form 8-K under Item 2.02 and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or in any filing under the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
The following exhibit is furnished as part of this report:
Exhibit number |
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Description |
99.1 |
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Press Release dated August 5, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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RxSight, Inc. |
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Date: |
August 5, 2026 |
By: |
/s/ Mark Wilterding |
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Name: Mark Wilterding |
Exhibit 99.1
RXSIGHT, INC. REPORTS SECOND QUARTER 2026 RESULTS AND PROVIDES UPDATE ON 2026 OUTLOOK
Aliso Viejo, Calif. – August 5, 2026 – 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
Strategic Highlights
RxSight highlighted the following recent developments that position the company for long-term success:
“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 $33.7 million, including $6.5 million recognized under the company’s strategic collaboration with Alcon. Product sales were $27.2 million, down 19% from the prior-year period, reflecting heightened competitive trialing and continued pressure on consumer sentiment.
Excluding the impact from the Alcon collaboration, second quarter gross margin of 71.2% decreased from 74.9% in the prior-year period, primarily reflecting inventory-related costs and the expected flow-through of higher-cost inventory. Including the favorable contribution of collaboration revenue, second-quarter gross margin was 76.7%.
Total operating expenses for the second quarter of 2026 were $39.7 million versus $39.2 million in the year-ago period. The increase was primarily driven by higher professional services fees, partially offset by lower compensation and other employee-related costs.
In the second quarter, the company reported a net loss of $(12.1) million, or $(0.29) per basic and diluted share, compared to a net loss of $(11.8) million, or $(0.29) per basic and diluted share in the second quarter of 2025. Adjusted net loss in the second quarter of 2026 was $(4.6) million, or $(0.11) per basic and diluted share, compared to an adjusted net loss of $(3.3) million, or $(0.08) per basic and diluted share in the second quarter of 2025.
As of June 30, 2026, cash, cash equivalents and short-term investments totaled $208.8 million.
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)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Revenue: |
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Product sales |
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$ |
27,241 |
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$ |
33,637 |
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$ |
58,134 |
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$ |
71,531 |
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License and collaboration revenue |
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6,500 |
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— |
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6,500 |
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— |
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Total revenue |
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33,741 |
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33,637 |
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64,634 |
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71,531 |
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Costs and expenses: |
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Cost of sales |
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7,855 |
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8,447 |
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15,250 |
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18,013 |
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Selling, general and administrative |
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30,419 |
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28,976 |
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62,274 |
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57,611 |
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Research and development |
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9,237 |
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10,217 |
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18,709 |
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20,584 |
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Total costs and expenses |
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47,511 |
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47,640 |
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96,233 |
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96,208 |
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Loss from operations |
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(13,770 |
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(14,003 |
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(31,599 |
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(24,677 |
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Other income (expense), net: |
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Interest expense |
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(3 |
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(5 |
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(6 |
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(11 |
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Interest and other income |
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1,764 |
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2,254 |
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3,718 |
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4,762 |
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Loss before income taxes |
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(12,009 |
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(11,754 |
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(27,887 |
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(19,926 |
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Income tax expense |
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88 |
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32 |
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94 |
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50 |
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Net loss |
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$ |
(12,097 |
) |
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$ |
(11,786 |
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$ |
(27,981 |
) |
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$ |
(19,976 |
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Other comprehensive loss: |
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Unrealized loss on short-term investments |
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(5 |
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(146 |
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(125 |
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(303 |
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Foreign currency translation gain |
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13 |
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14 |
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13 |
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20 |
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Total other comprehensive gain (loss) |
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8 |
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(132 |
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(112 |
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(283 |
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Comprehensive loss |
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$ |
(12,089 |
) |
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$ |
(11,918 |
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$ |
(28,093 |
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$ |
(20,259 |
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Net loss per share: |
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Basic & diluted |
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$ |
(0.29 |
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$ |
(0.29 |
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$ |
(0.68 |
) |
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$ |
(0.49 |
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Weighted-average shares used in computing net loss per share: |
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Attributable to common stock, basic & diluted |
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41,490,889 |
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40,743,786 |
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41,399,010 |
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40,627,363 |
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RxSight, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands, except share and per share amounts)
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June 30, |
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December 31, |
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2026 |
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2025 |
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(Unaudited) |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
13,352 |
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$ |
19,949 |
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Short-term investments |
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195,447 |
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208,179 |
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Accounts receivable, net |
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18,519 |
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23,383 |
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Inventories |
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37,117 |
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31,559 |
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Prepaid and other current assets |
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2,961 |
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4,389 |
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Receivable from collaboration partner |
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60,000 |
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— |
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Total current assets |
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327,396 |
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287,459 |
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Property and equipment, net |
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14,039 |
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13,056 |
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Operating leases right-of-use assets |
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9,491 |
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9,959 |
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Restricted cash |
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750 |
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750 |
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Other assets |
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1,024 |
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590 |
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Total assets |
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$ |
352,700 |
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$ |
311,814 |
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Liabilities and stockholders' equity |
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Current liabilities: |
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Accounts payable |
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$ |
6,345 |
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$ |
5,296 |
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Accrued expenses and other current liabilities |
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15,553 |
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16,533 |
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Lease liabilities |
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1,664 |
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1,162 |
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Deferred revenue, current |
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6,882 |
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3,262 |
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Refund liability |
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50,000 |
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— |
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Total current liabilities |
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80,444 |
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26,253 |
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Long-term lease liabilities |
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8,916 |
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9,878 |
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Total liabilities |
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89,360 |
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36,131 |
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Commitments and contingencies (Note 8) |
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Stockholders' equity: |
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Common stock, $0.001 par value, 900,000,000 shares authorized, 41,585,381 shares issued and outstanding as of June 30, 2026 and 41,242,005 shares issued and outstanding as of December 31, 2025 |
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41 |
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41 |
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Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares issued and outstanding |
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— |
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— |
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Additional paid-in capital |
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952,378 |
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936,628 |
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Accumulated other comprehensive (loss) income |
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(59 |
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53 |
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Accumulated deficit |
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(689,020 |
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(661,039 |
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Total stockholders' equity |
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263,340 |
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275,683 |
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Total liabilities and stockholders' equity |
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$ |
352,700 |
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$ |
311,814 |
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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:
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Three Months Ended June 30, |
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Three Months Ended June 30, |
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2026 |
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2025 |
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Gross Margin |
Product |
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Collaboration |
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Total |
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Product |
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Collaboration |
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Total |
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Sales |
$ |
27,241 |
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$ |
6,500 |
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$ |
33,741 |
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$ |
33,637 |
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$ |
— |
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$ |
33,637 |
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Cost of sales |
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7,855 |
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— |
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7,855 |
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8,447 |
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— |
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8,447 |
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Gross profit |
$ |
19,386 |
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$ |
6,500 |
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$ |
25,886 |
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$ |
25,190 |
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$ |
— |
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$ |
25,190 |
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Gross margin % |
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71.2 |
% |
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100.0 |
% |
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76.7 |
% |
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74.9 |
% |
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0.0 |
% |
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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:
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Six Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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Gross Margin |
Product |
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Collaboration |
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Total |
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Product |
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Collaboration |
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Total |
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Sales |
$ |
58,134 |
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$ |
6,500 |
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$ |
64,634 |
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$ |
71,531 |
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$ |
— |
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$ |
71,531 |
|
Cost of sales |
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15,250 |
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— |
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15,250 |
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18,013 |
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— |
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18,013 |
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Gross profit |
$ |
42,884 |
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$ |
6,500 |
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$ |
49,384 |
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$ |
53,518 |
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$ |
— |
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$ |
53,518 |
|
Gross margin % |
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73.8 |
% |
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100.0 |
% |
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76.4 |
% |
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74.8 |
% |
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0.0 |
% |
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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:
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Three months ended June 30, |
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Six months ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Common Stock |
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Numerator: |
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Net loss available to stockholders, basic and diluted |
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$ |
(12,097 |
) |
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$ |
(11,786 |
) |
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$ |
(27,982 |
) |
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$ |
(19,976 |
) |
Add: |
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Stock-based compensation |
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7,465 |
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|
8,547 |
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15,410 |
|
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|
15,687 |
|
Adjusted net earnings (loss) income available to common stockholders, basic and diluted: |
|
$ |
(4,632 |
) |
|
$ |
(3,239 |
) |
|
$ |
(12,572 |
) |
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$ |
(4,288 |
) |
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Denominator: |
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|
|
|
|
|
|
|
|
|
||||
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 |
) |