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Sep 30, 2024
Rxsight Q3 2024 Earnings Report
RxSight's third quarter 2024 results showed strong revenue growth and increased gross profit.
Key Takeaways
RxSight reported a strong third quarter with a 59% increase in revenue compared to the same period last year, driven by increased sales of Light Adjustable Lenses (LAL) and Light Delivery Devices (LDD). The company also raised its full-year revenue guidance and increased its gross margin guidance.
Revenue increased by 59% year-over-year to $35.3 million.
LAL sales increased by 79% compared to the third quarter of 2023.
LDD sales increased by 28% compared to the third quarter of 2023.
Gross profit increased by 84% year-over-year to $25.2 million.
Forward Guidance
The company revised its 2024 full-year revenue to the top of previously provided guidance range of $139.0 million to $140.0 million, gross margin is expected to be in the range of 70% to 71%, and operating expenses are expected to be at the low end of its previously provided guidance range of $135.0 to $136.0 million.
Positive Outlook
- Revenue at the top of previously provided guidance range of $139.0 million to $140.0 million, representing implied growth of approximately 57% compared to 2023.
- Gross margin in the range of 70% to 71%, up from previous guidance range of 68% to 70%.
- Operating expenses at the low end of its previously provided guidance range of $135.0 to $136.0 million, including non-cash stock-based compensation expense, now also expected at the lower end of the previous guidance range of $29.0 to $30.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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