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Jun 30, 2021
Rxsight Q2 2021 Earnings Report
Reported financial results for the second quarter of 2021.
Key Takeaways
RxSight reported second quarter 2021 revenue of $4.9 million, representing growth of 81% compared to the prior year period. The growth was primarily driven by increased LDD and LAL unit sales and a more favorable market environment because of the reduced impact from the COVID-19 pandemic. Net loss was $(13.5) million, or $(3.28) and $(3.53) per share on a basic and diluted basis, respectively.
Achieved second quarter 2021 revenue of $4.9 million, representing growth of 81% compared to the prior year period.
Sale of 25 Light Delivery Devices (LDD™s), expanding the installed base to 130 LDDs as of June 30, 2021.
Sale of 1,825 Light Adjustable Lenses (LAL®s)
Completed an initial public offering (IPO) in July raising approximately $120 million of net proceeds.
Forward Guidance
This press release contains forward-looking statements, including those related physician adoption of the RxSight Light Adjustable Lens system, optimal outcomes for patients, the ability to deliver the visual acuity and quality patients expect and the ability to overcome one of the major factors that has limited growth of the premium market with the RxSight Adjustable Lens system, the ability to continue advancement of the RxSight technology and the ability of the IPO proceeds to fill the resource needs for growth in the Company’s business.
Positive Outlook
- Physician adoption of the RxSight Light Adjustable Lens system
- Optimal outcomes for patients
- The ability to deliver the visual acuity and quality patients expect
- The ability to overcome one of the major factors that has limited growth of the premium market with the RxSight Adjustable Lens system
- The ability to continue advancement of the RxSight technology
Challenges Ahead
- Our ability to maintain cash balances
- Successfully commercialize or partner our product candidates currently under development.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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