RxSight (NASDAQ:RXST) Announces Quarterly Earnings Results, Beats Estimates By $0.22 EPS

RxSight (NASDAQ:RXST) issued its earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.22, FiscalAI reports. The firm had revenue of $33.74 million during the quarter, compared to analysts’ expectations of $32.55 million. RxSight had a negative return on equity of 17.01% and a negative net margin of 36.58%.

Here are the key takeaways from RxSight’s conference call:

• Core product sales declined 19% year over year to $27.2 million, while LAL unit volume fell 9% to 24,917 units amid competitive trialing and broader market headwinds. Gross margin excluding Alcon also decreased to 71.2% from 74.9%, primarily due to higher inventory-related costs.
• Management withdrew its full-year 2026 financial guidance, citing the need for a thorough assessment and flexibility to make potential strategic or operational changes. Formal guidance is expected to resume with the company’s fourth-quarter results in early 2027.
• The company reported a strategic collaboration with Alcon that contributed $6.5 million of second-quarter revenue and is expected to generate $30 million to $40 million in 2026 revenue, plus future milestones and royalties. RxSight ended the quarter with approximately $209 million in cash and investments, before receiving an additional $60 million upfront payment after quarter-end.
• New CEO Aziz Mottiwala plans to shift the commercial strategy from establishing broad account reach to driving deeper utilization within the existing 1,166-unit LDD installed base. The company intends to eventually double its U.S. sales team, primarily through internal resource reallocations, while improving practice workflows, physician education, and patient selection.
• Management said early third-quarter trends are encouraging, but expects continued competition, product trialing, seasonality, affordability pressures, and broader market conditions to affect results. Alcon-related revenue is expected to be limited in the third quarter, with most of the remaining 2026 contribution recognized in the fourth quarter.

RxSight Price Performance

Shares of RXST traded up $0.04 during trading hours on Wednesday, hitting $6.29. The stock had a trading volume of 902,081 shares, compared to its average volume of 965,678. The company’s fifty day moving average is $5.29 and its two-hundred day moving average is $6.67. RxSight has a 52 week low of $4.48 and a 52 week high of $13.22. The stock has a market capitalization of $260.41 million, a price-to-earnings ratio of -5.57 and a beta of 1.13.

Hedge Funds Weigh In On RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of RxSight by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after buying an additional 1,232 shares in the last quarter. Goldman Sachs Group Inc. grew its position in RxSight by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after acquiring an additional 113,767 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in RxSight by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock worth $2,358,000 after acquiring an additional 8,424 shares during the last quarter. Creative Planning acquired a new stake in RxSight during the 2nd quarter valued at $207,000. Finally, Legal & General Group Plc increased its holdings in RxSight by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock valued at $579,000 after purchasing an additional 2,121 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America reduced their price objective on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research note on Tuesday, July 7th. UBS Group reissued a “neutral” rating and issued a $5.50 price target (down from $9.00) on shares of RxSight in a research report on Tuesday, July 28th. Wells Fargo & Company cut their price target on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of RxSight in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $8.50.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.