RxSight Q3 revenue falls 19% to $24.6M; loss widens
A $60 million Alcon-related receipt was included in RxSight’s $254.7 million of cash, cash equivalents and short-term investments as of September 30, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
RxSight, Inc. (RXST) reported third-quarter 2026 revenue of $24.6 million, down 19% from the prior-year period, primarily reflecting ongoing competitive pressures. The company sold 23,128 LAL units. GAAP net loss was $(16.2) million, compared with $(9.8) million a year earlier; adjusted net loss was $(8.6) million versus $(1.7) million. Gross margin was 73.6%, compared with 79.9%, reflecting higher inventory reserves and costs for LAL and LDD, partly offset by favorable product mix.
Cash, cash equivalents and short-term investments totaled $254.7 million as of September 30, 2026, including $60 million received during the quarter in connection with the Alcon collaboration. Alcon collaboration revenue recognized was $40,000. RxSight nearly doubled its sales force, completed an organizational restructuring, and appointed Taryn Conway Chief Commercial Officer and Frank Shields EVP of Sales and Commercial Strategy. The initial 120-day period under the Alcon agreement was complete.
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.
Positive
- Major pointRxSight received $60 million during the quarter in connection with the Alcon collaboration. 30% of market cap
Negative
- Moderate pointThird-quarter revenue fell 19% to $24.6 million amid competitive pressures.
- Moderate pointGAAP net loss increased to $(16.2) million from $(9.8) million.
Filing Explained
The 8-K’s attached quarterly release shows a refund-liability balance of
8-K Event Classification
Key Figures
Key Terms
gross margin financial
adjusted net loss financial
inventory reserves financial
Light Adjustable Lens technical
Earnings Snapshot
FAQ
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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
Date of Report (Date of earliest event reported): |
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(Former Name or Former Address, if Changed Since Last Report)
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 November 3, 2026, RxSight, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the three months ended September 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 November 3, 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: |
November 3, 2026 |
By: |
/s/ Mark Wilterding |
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Name: Mark Wilterding |
Exhibit 99.1
RXSIGHT, INC. REPORTS THIRD QUARTER 2026 RESULTS
Aliso Viejo, Calif. – November 3, 2026 – RxSight, Inc. (NASDAQ: RXST) today reported financial results for the quarter ended September 30, 2026.
Third Quarter 2026 Financial Highlights
Strategic Highlights
The company highlighted the following recent strategic developments:
“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)
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Three Months Ended September 30, |
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Nine Months Ended September 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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$ |
24,546 |
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$ |
30,340 |
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$ |
82,680 |
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$ |
101,871 |
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License and collaboration revenue |
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40 |
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— |
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6,540 |
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— |
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Total revenue |
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24,586 |
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30,340 |
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89,220 |
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101,871 |
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Costs and expenses: |
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Cost of sales |
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6,487 |
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6,113 |
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21,738 |
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24,125 |
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Selling, general and administrative |
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27,404 |
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27,345 |
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89,678 |
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84,956 |
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Research and development |
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9,213 |
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9,060 |
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27,922 |
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29,644 |
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Total costs and expenses |
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43,104 |
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42,518 |
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139,338 |
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138,725 |
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Loss from operations |
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(18,518 |
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(12,178 |
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(50,118 |
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(36,854 |
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Other income (expense), net: |
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Interest expense |
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(3 |
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(4 |
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(9 |
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(14 |
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Interest and other income |
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2,325 |
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2,376 |
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6,043 |
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7,137 |
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Loss before income taxes |
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(16,196 |
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(9,806 |
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(44,084 |
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(29,731 |
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Income tax expense |
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28 |
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10 |
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122 |
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61 |
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Net loss |
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$ |
(16,224 |
) |
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$ |
(9,816 |
) |
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$ |
(44,206 |
) |
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$ |
(29,792 |
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Other comprehensive (loss) gain: |
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Unrealized (loss) gain on short-term investments |
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(59 |
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178 |
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(184 |
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(123 |
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Foreign currency translation gain (loss) |
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18 |
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(1 |
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31 |
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18 |
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Total other comprehensive (loss) gain |
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(41 |
) |
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177 |
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(153 |
) |
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(105 |
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Comprehensive loss |
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$ |
(16,265 |
) |
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$ |
(9,639 |
) |
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$ |
(44,359 |
) |
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$ |
(29,897 |
) |
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Net loss per share: |
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Basic & diluted |
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$ |
(0.39 |
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$ |
(0.24 |
) |
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$ |
(1.07 |
) |
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$ |
(0.73 |
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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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41,705,436 |
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40,965,219 |
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41,502,275 |
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40,741,219 |
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RxSIGHT, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
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September 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 |
$ |
66,717 |
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$ |
19,949 |
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Short-term investments |
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187,966 |
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208,179 |
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Accounts receivable, net |
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16,998 |
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23,383 |
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Inventories |
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39,593 |
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31,559 |
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Prepaid and other current assets |
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3,530 |
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4,389 |
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Total current assets |
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314,804 |
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287,459 |
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Property and equipment, net |
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14,649 |
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13,056 |
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Operating leases right-of-use assets |
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9,246 |
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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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969 |
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590 |
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Total assets |
$ |
340,418 |
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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 |
$ |
3,423 |
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$ |
5,296 |
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Accrued expenses and other current liabilities |
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15,189 |
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16,274 |
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Deferred revenue, current |
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4,496 |
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3,521 |
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Lease liabilities |
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1,844 |
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1,162 |
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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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74,952 |
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26,253 |
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Long-term lease liabilities |
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8,476 |
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9,878 |
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Deferred revenue, noncurrent |
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2,079 |
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— |
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Total liabilities |
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85,507 |
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36,131 |
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Stockholders' equity: |
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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 |
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42 |
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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 as of September 30, 2026 and December 31, 2025 |
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— |
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— |
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Additional paid-in capital |
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960,213 |
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936,628 |
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Accumulated other comprehensive (loss) income |
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(100 |
) |
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53 |
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Accumulated deficit |
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(705,244 |
) |
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(661,039 |
) |
Total stockholders' equity |
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254,911 |
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275,683 |
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Total liabilities and stockholders' equity |
$ |
340,418 |
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$ |
311,814 |
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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:
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Three Months Ended September 30, |
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Three Months Ended September 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 |
$ |
24,546 |
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$ |
40 |
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$ |
24,586 |
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$ |
30,340 |
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$ |
— |
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$ |
30,340 |
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Cost of sales |
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6,487 |
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— |
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6,487 |
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6,113 |
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— |
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6,113 |
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Gross profit |
$ |
18,059 |
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$ |
40 |
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$ |
18,099 |
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$ |
24,227 |
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$ |
— |
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$ |
24,227 |
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Gross margin % |
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73.6 |
% |
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100.0 |
% |
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73.6 |
% |
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79.9 |
% |
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0.0 |
% |
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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:
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Nine Months Ended September 30, |
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Nine Months Ended September 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 |
$ |
82,680 |
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$ |
6,540 |
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$ |
89,220 |
|
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$ |
101,871 |
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$ |
— |
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$ |
101,871 |
|
Cost of sales |
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21,738 |
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— |
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21,738 |
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24,125 |
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— |
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|
24,125 |
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Gross profit |
$ |
60,942 |
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$ |
6,540 |
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$ |
67,482 |
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$ |
77,746 |
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$ |
— |
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$ |
77,746 |
|
Gross margin % |
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73.7 |
% |
|
100.0 |
% |
|
75.6 |
% |
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76.3 |
% |
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0.0 |
% |
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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:
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Three months ended September 30, |
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Nine months ended September 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 |
|
$ |
(16,224 |
) |
|
$ |
(9,816 |
) |
|
$ |
(44,206 |
) |
|
$ |
(29,792 |
) |
Add: |
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|
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|
||||
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 |
) |
|
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Denominator: |
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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 |
) |