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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 05, 2025

 

 

RxSight, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-40690

94-3268801

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

100 Columbia

 

Aliso Viejo, California

 

92656

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (949) 521-7830

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, par value $0.001 per share

 

RXST

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 


Item 2.02 Results of Operations and Financial Condition.

On November 5, 2025, RxSight, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the three and nine months ended September 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

The information furnished in this Current Report on Form 8-K under Item 2.02 and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or in any filing under the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

The following exhibit is furnished as part of this report:

 

Exhibit number

 

Description

99.1

 

Press Release dated November 5, 2025.

104

 

Cover Page Interactive Data File (embedded within the inline XBRL document).

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

RxSight, Inc.

 

 

 

 

Date:

November 5, 2025

By:

/s/ Shelley Thunen

 

 

 

Name: Shelley Thunen
Title: Co-President and Chief Financial Officer

 


EX-99.1 2 rxst-ex99_1.htm EX-99.1 EX-99.1

 

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Exhibit 99.1

 

 

 

RXSIGHT, INC. REPORTS THIRD QUARTER 2025 FINANCIAL RESULTS

 

Aliso Viejo, Calif. (Nasdaq: RXST) – November 5, 2025 – RxSight, Inc., an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery, today reported financial results for the three months ended September 30, 2025.

 

Key Financial Highlights

Reported third quarter 2025 revenue of $30.3 million, representing a decrease of 14% compared to the third quarter of 2024, reflecting:
The sale of 26,045 Light Adjustable Lenses (LAL®/LAL+®), representing a 6% increase in procedure volume compared to the third quarter of 2024;
The sale of 25 Light Delivery Devices (LDD™s), representing a 68% decrease compared to the third quarter of 2024; and
An installed base of 1,109 LDDs as of September 30, 2025, representing a 25% increase compared to the same period last year;
Gross margin of 80%, representing an increase of 844 basis points compared to 71% in the third quarter of 2024.
The Company narrowed its 2025 full-year revenue range and increased its full-year gross margin guidance.

 

Key Strategic Highlights

During the quarter, the Company realigned its U.S. commercial organization, integrating clinical and sales teams to help resume growth in LAL procedures with deeper LAL practice integration.
Launched a new series of practice development and clinical engagement programs designed to share key learnings from more than 250,000 LAL cases and drive targeted practice engagement.
Appointed an Executive Vice President, International, to lead the Company’s international commercial strategy and execution.

 

“Procedure trends during the quarter reflected a measured pace of stabilization and recovery, and we are encouraged by the engagement across the field as our unified commercial team deepens customer relationships,” said Ron Kurtz, Chief Executive Officer and President of RxSight. “The enthusiasm we saw at AAO and ESCRS, the two largest ophthalmic conferences in the U.S. and Europe, underscored the continued interest from surgeons, highlighted by the quality of peer-to-peer discussions and the growing recognition of RxSight’s clinical value to both patients and practices.”

 


 

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Third Quarter Financial Results

In the third quarter of 2025, total revenue was $30.3 million, representing a decrease of 14% compared to $35.3 million in the third quarter of 2024. During the quarter, LAL revenue increased 6% while LDD revenue decreased 69%, compared to the third quarter of 2024.

Gross profit for the third quarter of 2025 was $24.2 million or 80% of revenue, a decrease of $1.0 million compared to gross profit of $25.2 million or 71% of revenue for the third quarter of 2024. The increase in gross profit as percent of revenue was primarily driven by the favorable shift in product mix toward LAL sales.

Total operating expenses for the third quarter of 2025 were $36.4 million, a 6% increase from $34.4 million in the third quarter of 2024, reflecting the company’s ongoing investments to support increased LAL sales volume, and advance its research and development pipeline.

In the third quarter of 2025, the company reported a net loss of $(9.8) million, or $(0.24) per basic and diluted share, compared to a net loss of $(6.3) million, or $(0.16) per basic and diluted share in the third quarter of 2024. Adjusted net loss in the third quarter of 2025 was $(1.7) million, or $(0.04) per basic and diluted share, compared to an adjusted net gain of $0.2 million, or $0.01 per basic and $0.00 per diluted share in the third quarter of 2024.

As of September 30, 2025, cash, cash equivalents and short-term investments totaled $227.5 million, unchanged from June 30, 2025.

2025 Guidance

The Company narrowed its full-year 2025 revenue range, raised its gross margin guidance, and reiterated its operating expense guidance as follows:

Revenue in the range of $125.0 million to $130.0 million compared to the prior range of $120.0 million to $130.0 million, representing an implied decrease of 11% to 7% compared to 2024;
Gross margin in the range of 76% to 77%, an increase from the previous guidance range of 72% to 74% representing an implied increase of 529 basis points to 629 basis points compared to 2024;
Operating expenses are projected to remain in the range of $145.0 million to $155.0 million, representing an implied increase of 7% to 14% compared to 2024; and
Operating expenses include non-cash stock-based compensation expense in the range of $30.0 million to $32.0 million, compared to the previous estimate of $27.0 million to $30.0 million.

Conference Call

On Wednesday, November 5, 2025, at 1:30 p.m. Pacific Time, the company will host a conference call to discuss its third quarter 2025 financial results. To participate in the conference call, please dial (800) 715-9871 or (646) 307-1963 and enter the conference code: 6619966. 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.

 

 


 

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About RxSight, Inc.

RxSight, Inc. is an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery. The RxSight® Light Adjustable Lens system, comprised of the RxSight Light Adjustable Lens® (LAL®/LAL+®, collectively the “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.

Forward-Looking Statements

This press release contains forward-looking statements, including: statements concerning the Company’s projected revenue, gross margin, operating expense and non-cash stock based compensation in 2025; statements concerning the pace of stabilization and recovery in procedure trends; the expected benefits of the Company’s unified commercial organization, including stronger customer relationships; the impact of increased surgeon engagement and peer-to-peer discussions observed at major ophthalmic conferences; and the Company’s belief that growing recognition of its differentiated clinical value and continued investment in innovation will support sustained adoption and long-term value creation for patients and practices. 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 same 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 Quarterly Report on Form 10-Q for the three months ended September 30, 2025, 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. We undertake 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.

 

Company Contact:

Shelley B. Thunen

Chief Financial Officer

sthunen@rxsight.com

 

Investor Relations Contact:

Oliver Moravcevic

VP, Investor Relations

omoravcevic@rxsight.com

 

 


 

img261313502_0.jpg

RxSIGHT, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS (UNAUDITED)

(In thousands, except share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$

30,340

 

 

$

35,314

 

 

$

101,871

 

 

$

99,713

 

Cost of sales

 

 

6,113

 

 

 

10,094

 

 

 

24,125

 

 

 

29,558

 

Gross profit

 

 

24,227

 

 

 

25,220

 

 

 

77,746

 

 

 

70,155

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

27,345

 

 

 

25,608

 

 

 

84,956

 

 

 

73,225

 

Research and development

 

 

9,060

 

 

 

8,838

 

 

 

29,644

 

 

 

25,160

 

Total operating expenses

 

 

36,405

 

 

 

34,446

 

 

 

114,600

 

 

 

98,385

 

Loss from operations

 

 

(12,178

)

 

 

(9,226

)

 

 

(36,854

)

 

 

(28,230

)

Other income (expense), net:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(4

)

 

 

(5

)

 

 

(14

)

 

 

(16

)

Interest and other income

 

 

2,376

 

 

 

2,906

 

 

 

7,137

 

 

 

6,767

 

Loss before income taxes

 

 

(9,806

)

 

 

(6,325

)

 

 

(29,731

)

 

 

(21,479

)

Income tax expense

 

 

10

 

 

 

13

 

 

 

61

 

 

 

38

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(9,816

)

 

$

(6,338

)

 

$

(29,792

)

 

$

(21,517

)

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on short-term investments

 

 

178

 

 

 

633

 

 

 

(123

)

 

 

524

 

Foreign currency translation (loss) gain

 

 

(1

)

 

 

6

 

 

 

18

 

 

 

2

 

Total other comprehensive loss

 

 

177

 

 

 

639

 

 

 

(105

)

 

 

526

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive loss

 

$

(9,639

)

 

$

(5,699

)

 

$

(29,897

)

 

$

(20,991

)

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic & diluted

 

$

(0.24

)

 

$

(0.16

)

 

$

(0.73

)

 

$

(0.56

)

Weighted-average shares used in computing net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Attributable to common stock, basic & diluted

 

 

40,965,219

 

 

 

39,788,621

 

 

 

40,741,219

 

 

 

38,367,759

 

 

 

 

 

 


 

img261313502_0.jpg

 

 

 

RxSIGHT, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In thousands, except share and per share amounts)

 

 

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

(Unaudited)

 

 

 

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

29,633

 

 

$

16,706

 

Short-term investments

 

 

197,883

 

 

 

220,517

 

Accounts receivable, net

 

 

24,151

 

 

 

30,050

 

Inventories, net

 

 

28,950

 

 

 

22,009

 

Prepaid and other current assets

 

 

3,260

 

 

 

4,541

 

Total current assets

 

 

283,877

 

 

 

293,823

 

Property and equipment, net

 

 

13,096

 

 

 

12,413

 

Operating leases right-of-use assets

 

 

10,276

 

 

 

11,217

 

Restricted cash

 

 

748

 

 

 

750

 

Other assets

 

 

536

 

 

 

360

 

Total assets

 

$

308,533

 

 

$

318,563

 

Liabilities and stockholders' equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

3,377

 

 

$

4,544

 

Accrued expenses and other current liabilities

 

 

17,621

 

 

 

20,358

 

Lease liabilities

 

 

1,293

 

 

 

974

 

Total current liabilities

 

 

22,291

 

 

 

25,876

 

Long-term lease liabilities

 

 

10,272

 

 

 

11,322

 

Other long-term liabilities

 

 

 

 

 

127

 

Total liabilities

 

 

32,563

 

 

 

37,325

 

Commitments and contingencies

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

Common stock, $0.001 par value, 900,000,000 shares authorized,
 41,081,550 shares issued and outstanding as of Sepember 30, 2025 and
  40,428,220 shares issued and outstanding as of December 31, 2024

 

 

41

 

 

 

40

 

Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares issued
  and outstanding

 

 

 

 

 

 

Additional paid-in capital

 

 

927,756

 

 

 

903,127

 

Accumulated other comprehensive income

 

 

60

 

 

 

166

 

Accumulated deficit

 

 

(651,887

)

 

 

(622,095

)

Total stockholders' equity

 

 

275,970

 

 

 

281,238

 

Total liabilities and stockholders' equity

 

$

308,533

 

 

$

318,563

 

 

 


 

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Non-GAAP Financial Measures

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 earnings (loss) and adjusted net earnings (loss) per share, basic and diluted, provide useful information to investors and are useful in evaluating our operating performance. For example, when calculating adjusted net earnings (loss) and adjusted net earnings (loss) per share, basic and diluted, 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 Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share

Adjusted net earnings (loss) is a non-GAAP financial measure that we define as net earnings (loss) adjusted for stock-based compensation. We believe adjusted net earnings (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.

 

 


 

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Reconciliations of net earnings (loss) to adjusted net earnings (loss) and the presentation of adjusted net earnings (loss) per share, basic and diluted, are as follows:

 

RxSIGHT, INC.

GAAP To NON-GAAP RECONCILIATIONS (UNAUDITED)

(In thousands, except share and per share amounts)

 

 

 

Three months ended September 30,

 

 

For the nine months ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss available to stockholders, basic and diluted

 

$

(9,816

)

 

$

(6,338

)

 

$

(29,792

)

 

$

(21,517

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

8,108

 

 

 

6,552

 

 

 

23,795

 

 

 

17,353

 

Adjusted net earnings (loss) income available to common stockholders, basic and diluted:

 

$

(1,708

)

 

$

214

 

 

$

(5,997

)

 

$

(4,164

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding, basic

 

 

40,965,219

 

 

 

39,788,621

 

 

 

40,741,219

 

 

 

38,367,759

 

Weighted-average shares outstanding, diluted

 

 

40,965,219

 

 

 

45,748,177

 

 

 

40,741,219

 

 

 

38,367,759

 

Adjusted net earnings (loss) per share, basic

 

$

(0.04

)

 

$

0.01

 

 

$

(0.15

)

 

$

(0.11

)

Adjusted net earnings (loss) per share, diluted

 

$

(0.04

)

 

$

0.00

 

 

$

(0.15

)

 

$

(0.11

)