RXST earnings analysis
What we found in RXST's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
RxSight experienced a significant revenue decline of 18.5% YoY, falling to $30.9 million in Q1 2026 from $37.9 million the previous year, largely due to lower unit volumes of LDDs. The gross margin improved to 76.1% from 74.8%, but increased operating losses further strained financial metrics, highlighting ongoing challenges despite a cash position of $217.9 million sufficient for at least 12 months of operations.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Decline
- Revenue fell to $30.9 million, down 18.5% YoY from $37.9 million.
- Improved Gross Margin
- Gross margin rose to 76.1%, an increase from 74.8% a year ago.
- Increased Operating Losses
- Operating loss rose to $17.8 million from $10.7 million, up 67% YoY.
- Cash Position Solid
- Cash and equivalents were reported at $217.9 million, deemed sufficient for at least the next 12 months.
- Investments in Sales Growth
- Management emphasizes efforts to increase LDD sold and enhance sales representatives for growth.
- R&D Expenses Decline
- R&D expenses decreased 8.6% YoY to $9.5 million for Q1 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Operating Losses
- Continuous losses amounted to $17.8 million in Q1 2026, deepening the accumulated deficit to $676.9 million.
- Regulatory Challenges
- Changes in regulations, including the transition to the EU MDR, could complicate future product approvals.
- Dependence on Third-Party Suppliers
- Reliance on single source suppliers increases vulnerability to supply disruptions.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.38
- Gross margin
- 76.1%
What they said about what is next.
Management expects to grow revenues but offers no specific numerical guidance.
The filing reads worse than the one before it.
What came before.
- 10-K · February 25, 2026
- RxSight positions its Light Adjustable Lens (LAL) system as a differentiated premium IOL that enables post‑operative tuning and claims superior clinical outcomes (e.g., 70% of LAL patients achieved 20/20 uncorrected…
- 10-Q · May 7, 2025
- RxSight reported Q1 sales of $37,895,000 (vs. $29,512,000 a year ago), with gross profit of $28,329,000 (gross margin 74.8%) and a net loss per share of $(0.20) compared with $(0.25) in Q1 2024. Operating loss was…
- 10-Q · May 6, 2024
- RxSight reported strong top-line growth and materially improved margins in Q1: revenue rose to $29,512,000 (from $17,489,000 a year ago) and gross margin expanded to 70.1%. Operating and net losses narrowed (loss from…
- 10-K · February 28, 2024
- RxSight positions itself as the developer of the first and only commercially available adjustable premium intraocular lens system (RxSight LAL + LDD) that enables post‑surgical customization of vision. The 10‑K…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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