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Sep 30, 2023
Rxsight Q3 2023 Earnings Report
RxSight reported a 76% increase in revenue, driven by LDD and LAL sales, and increased full-year guidance for revenue and gross margin.
Key Takeaways
RxSight reported strong third-quarter results with a 76% increase in revenue to $22.2 million, driven by increased sales of Light Delivery Devices (LDD) and Light Adjustable Lenses (LAL). The company also increased its full-year 2023 guidance range for revenue and gross margin.
Revenue increased by 76% compared to Q3 2022, reaching $22.2 million.
LDD sales increased by 35%, expanding the installed base to 589 units.
LAL sales increased by 107% in procedure volumes compared to Q3 2022.
Full-year revenue and gross margin guidance were increased, while operating expense guidance was narrowed.
Forward Guidance
The company provided full year 2023 revenue guidance of $85.0 million to $87.0 million and gross margin in the range of 60% to 61%.
Positive Outlook
- Revenue of $85.0 million to $87.0 million, representing implied growth of 73% to 78% compared to 2022.
- Gross margin in the range of 60% to 61%, representing an implied increase of 36% to 39% compared to 2022.
Challenges Ahead
- Operating expense guidance range of $106.0 million to $107.0 million, representing an implied increase of 25% to 26% compared to 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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