NASDAQ$RXST
Rxsight Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported an 83% increase in revenue compared to Q2 2022, driven by growth in LDD and LAL sales, and increased full-year guidance for revenue, gross margin, and operating expense.
RxSight, Inc. reported strong second-quarter results with significant revenue growth driven by increased sales of Light Delivery Devices (LDD) and Light Adjustable Lenses (LAL), leading to an improved full-year outlook.
- Reported second quarter revenue of $20.8 million, an 83% increase compared to Q2 2022.
- Sold 67 Light Delivery Devices (LDD™s), a 37% increase in unit sales compared to Q2 2022, expanding the installed base to 523 LDDs.
- Sold 12,622 Light Adjustable Lenses (LAL®s), a 134% increase in procedure volumes compared to Q2 2022.
- Increased full-year 2023 guidance range for revenue, gross margin, and operating expense.
Headline financials
Revenue & EPS history
Rxsight · Revenue · Quarterly
$20.8M
Revenue by segment
Rxsight · $11.4M total across 2 segments · Q2 2022
- LAL Revenue$5.8M—50.9%
- LDD Revenue$5.6M—49.1%
Forward guidance
RxSight increased its 2023 full-year guidance based on Q2 2023 performance.
Tailwinds
- Revenue of $81.0 million to $86.0 million, representing implied growth of 65% to 75% compared to 2022.
- Gross margin in the range of 58% to 60%, representing an implied increase of 32% to 36% compared to 2022.
- Operating expenses in the range of $106.0 million to $109.0 million, representing an implied increase of 25% to 29% compared to 2022.
- The company expects to reduce its annual interest expense by approximately $5.6 million.
- The LAL is the first and only lens that can be customized after cataract surgery.
Headwinds
- Forward-looking statements are subject to risks, uncertainties, and other factors.
- Actual events or results may differ materially from predictions.
- The company's ability to maintain cash balances.
- The company's ability to successfully commercialize or partner its product candidates currently under development.
- The LAL is still in the early adoption phase.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2023
-1.1%
Avg return
Earnings day
-2.6%
Avg return
5 days after
+2.8%
Avg return
30 days after
45%
9 / 20 earnings
Positive
+15.1%
Q3 2022
Best reaction
-16.1%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.6% | -21.6% | -31.1% | |
| Q4 2025 | -10.1% | -13.5% | -28.9% | |
| Q3 2025 | +8.7% | +16.3% | +46.7% | |
| Q1 2025 | -11.2% | -11.4% | +0.9% | |
| Q4 2024 | -0.8% | -7.8% | -9.1% | |
| Q3 2024 | -12.3% | -16.9% | -21.2% | |
| Q2 2024 | +14.6% | +21.5% | +29.0% | |
| Q1 2024 | +0.8% | -3.8% | -5.0% | |
| Q4 2023 | -5.8% | -3.2% | -10.9% | |
| Q3 2023 | +1.8% | +9.5% | +40.8% | |
| Q2 2023 | -1.5% | -6.3% | -1.8% | |
| Q1 2023 | +9.0% | +18.3% | +34.0% | |
| Q4 2022 | +9.7% | +4.5% | +17.9% | |
| Q3 2022 | +15.1% | +14.6% | +18.1% | |
| Q2 2022 | -2.9% | -8.3% | -13.3% | |
| Q1 2022 | -4.3% | -3.0% | +34.9% | |
| Q4 2021 | +1.4% | -3.2% | +1.8% | |
| Q3 2021 | +3.7% | -0.8% | -4.0% | |
| Q4 2020 | -16.1% | -18.4% | -21.1% | |
| Q2 2021 | -16.1% | -18.4% | -21.1% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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