RxSight Inc. Common Stock Q1 2026 Earnings Recap

RxSight shares fell 2.6% post-earnings as investors responded cautiously to persistent volume weakness and elevated operating expenses despite reiteration of full-year guidance.

Key Takeaways

• Q1 sales declined 18% year-over-year to $30.9 million, reflecting a decrease in LDD unit volumes, while LAL unit volumes held steady versus the prior year but declined 4% sequentially due to typical seasonality.
• Gross margin improved modestly to 76.1% from 74.8% last year, benefiting from a higher mix of LAL revenue, though full-year gross margin guidance remains lower (70–72%) due to higher cost inventory.
• Operating expenses rose 11% to $31.9 million, driven by investments in expanding commercial and support teams globally.
• Reported net loss was $15.9 million, or $0.38 per share; adjusted net loss was $7.9 million or $0.19 per share, incorporating $7.9 million in stock-based compensation.
• Management reiterated full-year 2026 revenue guidance of $120 million to $135 million and signaled gradual improvement in quarterly growth rates, with international expansion to remain a modest near-term contributor.