Rxsight Inc · Q3 2022 earnings

Briefing

RxSight reported record performance driven by the increasing momentum of its premium cataract system.

RxSight, Inc. reported a significant increase in revenue for the third quarter of 2022, with a 118% increase compared to the third quarter of 2021. The growth was driven by increases in both LDD and LAL revenue. The company has revised its 2022 full-year revenue guidance to a range of $47.0 million to $48.0 million.

• Delivered third quarter 2022 revenue of $12.6 million, an increase of 118% compared to the third quarter of 2021.
• Sold 49 Light Delivery Devices (LDD™s), representing a 58% unit increase from the third quarter of 2021, expanding the installed base to 343 LDDs at the end of the quarter, a 113% increase compared to the 161-unit LDD installed base at the end of the third quarter of 2021.
• Sold 6,595 Light Adjustable Lenses (LAL®s), representing a 234% increase in procedure volumes when compared to the third quarter of 2021.
• Increased full-year 2022 revenue guidance to a range of $47.0 million to $48.0 million, which implies a growth rate of 108% to 112% when compared to 2021.

Headline financials

Revenue & EPS history

RxSight has revised its 2022 full-year revenue guidance to a range of $47.0 million to $48.0 million. The revised guidance range implies an annual growth rate versus 2021 of 108% to 112%. The company has increased its 2022 gross margin guidance range to 41% to 43% of revenue, up from the previous range of 37% to 38% of revenue. The Company has revised its operating expense guidance to $86.0 million to $87.0 million from $88.0 million to $90.0 million.