Rxsight Q1 2022 Earnings Report
Key Takeaways
RxSight, Inc. reported a strong start to 2022 with a 157% increase in revenue compared to the first quarter of 2021, driven by increased sales of Light Delivery Devices and Light Adjustable Lenses. The company has revised its 2022 full year revenue guidance to a range of $41.5 million to $45.5 million.
Delivered first quarter 2022 revenue of $8.9 million, a 157% increase compared to Q1 2021.
Sold 40 Light Delivery Devices (LDDâ„¢s), a 208% unit increase from Q1 2021.
Sold 4,166 Light Adjustable Lenses (LAL®s), a 166% increase in procedure volumes compared to Q1 2021.
Revised 2022 revenue guidance to a range of $41.5 million to $45.5 million.
Rxsight
Rxsight
Forward Guidance
RxSight revised its 2022 full year revenue guidance to a range of $41.5 million to $45.5 million. The company did not change its guidance for 2022 gross margin or operating expenses, which are ranges of 35% to 36% of revenue, and $86.0 million to $90.0 million, respectively.
Positive Outlook
- Revenue guidance increased to $41.5-$45.5 million.
- Implies an annual growth rate versus 2021 of 84% to 101%.
Challenges Ahead
- Gross margin guidance remains at 35-36% of revenue.
- Operating expenses guidance remains at $86.0-$90.0 million.