RxSight, Inc. Reports Third Quarter 2026 Results

ALISO VIEJO, Calif., Nov. 03, 2026 (GLOBE NEWSWIRE) -- RxSight, Inc. (NASDAQ: RXST) today reported financial results for the quarter ended September 30, 2026.

• Total revenue of $24.6 million primarily driven by 23,128 Light Adjustable Lens™ (LAL™) units

• Cash, cash equivalents and short-term investments of $254.7 million as of September 30, 2026, including the $60 million received in the third quarter in connection with the Alcon collaboration

The company highlighted the following recent strategic developments:

• Strengthened commercial leadership with the appointments of experienced eye care leaders Taryn Conway as Chief Commercial Officer and Frank Shields as EVP of Sales and Commercial Strategy

• Advancing U.S. commercial transformation, including nearly doubling its sales force to support deeper customer engagement and enhanced practice support

• Completed significant organizational restructuring to better align resources with strategic priorities and drive meaningful operating expense savings in the core business

• Advancing the Alcon collaboration, with the partnership off to a strong start and the initial 120-day period under the agreement now complete

“Since I joined last quarter, the team has moved quickly and accomplished a great deal in a short period of time,” said Aziz Mottiwala, President and Chief Executive Officer of RxSight. “We have strengthened our commercial organization and leadership, made progress across key long-term growth initiatives, and taken decisive actions to align our cost structure with our priorities. While there is more work ahead, we remain focused on execution. Based on our progress, I am confident we are positioning our company for long-term success.”

In the third quarter of 2026, total revenue was $24.6 million, down 19% from the prior-year period, primarily reflecting ongoing competitive pressures. Consistent with the early stages of the program, revenue recognized under the company’s strategic collaboration with Alcon was minimal during the quarter.

Third-quarter gross margin was 73.6%, compared with 79.9% in the prior-year period, primarily reflecting an increase in inventory reserves and higher inventory costs for LAL and LDD, partially offset by favorable product mix. The Alcon collaboration had an immaterial impact on gross margin during the quarter.

Total cost and expenses for the third quarter of 2026 were $43.1 million relatively consistent versus $42.5 million in the year-ago period.

In the third quarter, the company reported a net loss of $(16.2) million, or $(0.39) per basic and diluted share, compared to a net loss of $(9.8) million, or $(0.24) per basic and diluted share in the third quarter of 2025. Adjusted net loss in the third quarter of 2026 was $(8.6) million, or $(0.21) per basic and diluted share, compared to an adjusted net loss of $(1.7) million, or $(0.04) per basic and diluted share in the third quarter of 2025.

As of September 30, 2026, cash, cash equivalents and short-term investments totaled $254.7 million, including the $60 million received in the third quarter in connection with the Alcon collaboration.

On Tuesday, November 3, 2026, at 1:30 p.m. Pacific Time, the company will host a conference call to discuss its third quarter 2026 financial results. To participate in the conference call, please dial (800) 715-9871 or (646) 307-1963 and enter the conference code: 8782462. The call will also be broadcast live in listen-only mode via a link on the company’s investor relations website at https://investors.rxsight.com/. An archived recording of the call will be available through the same link shortly after its completion.

RxSight, Inc. is an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery. The Light Adjustable Lens™ system, comprised of the RxSight Light Adjustable Lens™ products (LAL™ and LAL+™), RxSight Light Delivery Device™ (LDD™), and accessories, is the first and only commercially available intraocular lens (IOL) technology that can be adjusted after surgery, enabling doctors to customize and deliver high-quality vision to patients after cataract surgery. Additional information about RxSight can be found at www.rxsight.com.

This press release contains forward-looking statements, including, without limitations, statements regarding the company’s business, strategies and prospects and positioning for long-term success. Such statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "projects," "potential," or "continue" or the negative of such terms and other similar terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors, including the risk factors that may be found in the section entitled Part II, Item 1A (Risk Factors) in the company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2026, filed with the Securities and Exchange Commission (SEC) on or about the date hereof, and the other documents that RxSight may file from time to time with the SEC. These and other factors may cause our actual results to differ materially from any forward-looking statement. RxSight undertakes no obligation to update any of the forward-looking statements after the date of this press release to conform those statements to reflect the occurrence of unanticipated events, except as required by applicable law.

RxSight, Inc., the RxSight Light Adjustable Lens Technology, LAL, LAL+, and LDD are trademarks of RxSight, Inc.

A reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the three months ended September 30, 2026 and 2025 are as follows:

A reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the nine months ended September 30, 2026 and 2025 are as follows:

To supplement our unaudited condensed consolidated financial statements presented under generally accepted accounting principles in the United States (“GAAP”), we believe certain non-GAAP measures, including adjusted net loss, and adjusted net loss per share, basic and diluted, provide useful information to investors and are useful in evaluating our operating performance. For example, we exclude stock-based compensation expense because this expense is non-cash in nature and we believe excluding this item provides meaningful supplemental information regarding our operational performance and allows investors the ability to make more meaningful comparisons between our operating results and those of other companies.

We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business.

Adjusted net loss is a non-GAAP financial measure that we define as net loss adjusted for stock-based compensation. We believe adjusted net loss provides investors with useful information on period-to-period performance as evaluated by management and comparison with our past financial performance and is useful in evaluating our operating performance compared to that of other companies in our industry, as this metric generally eliminates the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance.

A reconciliation of net loss to adjusted net loss and the presentation of adjusted net loss per share, basic and diluted, are as follows: