Rxsight Q4 2022 Earnings Report
Key Takeaways
RxSight, Inc. reported a strong fourth quarter with a 91% increase in revenue compared to Q4 2021, driven by increased sales of Light Delivery Devices (LDDs) and Light Adjustable Lenses (LALs). The company's installed base of LDDs expanded significantly, and LAL procedure volumes more than tripled. The company provided revenue guidance for 2023 between $78.0 million and $83.0 million.
Revenue increased by 91% compared to Q4 2021, reaching $16.1 million.
Light Delivery Device (LDD) sales increased by 27%, with an installed base of 400 units at the end of the quarter.
Light Adjustable Lens (LAL) sales increased by 208% in procedure volumes compared to Q4 2021.
Net loss was $(15.6) million, or $(0.56) per basic and diluted share.
Rxsight
Rxsight
Forward Guidance
RxSight provided 2023 revenue guidance range of $78.0 million to $83.0 million, representing implied growth of 59% to 69% compared to 2022. Provided 2023 gross margin guidance range of 52% to 54%, representing an implied increase of 19% to 24% compared to 2022. Provided operating expense guidance range of $105.0 million to $108.0 million, representing an implied growth of 24% to 28% compared to 2022.
Positive Outlook
- Revenue guidance range of $78.0 million to $83.0 million, representing implied growth of 59% to 69% compared to 2022.
- Gross margin guidance range of 52% to 54%, representing an implied increase of 19% to 24% compared to 2022.
Challenges Ahead
- Operating expense guidance range of $105.0 million to $108.0 million, representing an implied growth of 24% to 28% compared to 2022.