RXST

Image source: The Motley Fool. Wednesday, Aug. 5, 2026 at 4:30 p.m. ET VP of Investor Relations - Oliver Moravcevic President and Chief Executive Officer - Aziz Mottiwala Chief Financial Officer - Mark Wilterding Operator: Thank you for standing by, and welcome to the RxSight Second Quarter 2026 Earnings Conference. [Operator Instructions] I would now like to turn the conference over to Oliver Moravcevic, VP of Investor Relations. Oliver Moravcevic: Thank you, operator. With me on the call today are RxSight President and Chief Executive Officer, Aziz Mottiwala, and Chief Financial Officer, Mark Wilterding. Earlier today, RxSight released financial results for the 3 months ended June 30, 2026. A copy of the press release is available now on the company's website. Before we begin, I would like to remind you that comments and responses to questions during today's call reflect management's views as of today and will include forward-looking and opinion statements, including predictions, estimates, plans, and expectations. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are more fully described in our press release issued today and in our filings with the Securities and Exchange Commission or SEC. Our SEC filings can be found on our website or the SEC's website. Investors are cautioned not to place undue reliance on forward-looking statements, and we disclaim any obligation to update or revise these forward-looking statements except as may be required by law. We'll also discuss certain non-GAAP financial measures. Disclosures regarding non-GAAP financial measures, including reconciliations with the most comparable GAAP measures, which can be found in the press release. Please note that this conference call will be available for audio replay on our Investor Relations website. With that, I will turn the call over to Aziz. Aziz Mottiwala: Thank you, Oliver, and thank you, and good afternoon, everyone. I'm delighted to be at RxSight and to be speaking with you today. I've spent most of my career in eye care, an area of health care that represents a significant opportunity to make life-changing differences in the quality of patients' lives. Joining a company dedicated to improving people's vision is a tremendous privilege, and in a large part is what attracted me to RxSight. Most recently, as Chief Commercial Officer of Tarsus Pharmaceuticals, I helped build and lead the commercial strategy for one of the most important category-creating products in eye care. That experience reinforced the importance of differentiated innovation, disciplined execution, and strong customer engagement. I look forward to leveraging those experiences as we work to strengthen execution and create value for physicians, patients, employees, and shareholders. I'd like to thank the board of directors for placing its confidence in me, and I also want to acknowledge the entire RxSight team. Over the past 2 weeks, everyone has been incredibly welcoming, and I've been impressed by the spirit of innovation, level of commitment, and problem-solving mindset across the organization. That doesn't surprise me, given what this team has accomplished, but it has reinforced my excitement about the opportunity ahead. I also want to take a moment to recognize Ron Kurtz for his leadership in helping to build RxSight and establish the only commercially available adjustable IOL platform in the world. I'm pleased that Ron will continue to contribute his clinical expertise, product knowledge, and physician relationships as Chief Medical Officer, and I look forward to working closely with him as we advance the platform. The RxSight team has developed a highly differentiated technology and pioneered an entirely new category in cataract surgery. The ability to adjust and personalize the patient's vision post-surgery is truly unique and addresses one of the most important goals in cataract treatment, helping patients achieve the visual outcomes that they desire. Along the way, the company has developed a robust base of dedicated physicians and practices that strongly believe in our technology and have experienced firsthand benefit it provides to the patients. Having only been with RxSight for a short period of time, I want to offer some initial thoughts and observations. Over the last few weeks, I've spent considerable time listening, learning, and meeting with leaders across the organization, as well as key customers in the ophthalmic community. Before I can drive change, I need to develop a thorough understanding of the business, identify the underlying challenges, and determine where we can have the greatest impact. With that said, my initial conversations have reinforced that the value of adjustability remains compelling and that physicians recognize the technology's differentiation and its ability to deliver more precise and personalized vision for their patients. I've also learned that most surgeons prefer LAL for their most important patients, including members of their own family. For example, at a recent dinner here in Orange County, an ophthalmologist shared that she had chosen LAL for both her brother and her sister. I also recently spoke to another ophthalmologist in Florida who implanted LAL in both of his parents. To me, those decisions reflect the high level of confidence physicians across the ophthalmic community have in our technology. This level of physician confidence is supported by an extensive body of clinical and real-world evidence demonstrating the precision, consistency, and versatility of our technology. One recent example is a Phase 4 registry published in the Journal of Cataract & Refractive Surgery. The study involved more than 1,100 patients across 126 sites and reported strong refractive and visual outcomes in patients with and without prior corneal refractive surgery. The breadth and consistency of findings like this reinforce the strength of RxSight's clinical proposition and the value that adjustability offers to physicians and patients. In addition, our recently announced collaboration with Alcon is a major milestone for the company. It provides further external validation of the technology and its broader potential. It also provides meaningful non-dilutive capital through the $200 million in upfront and potential future milestone payments, along with the potential of significant long-term royalties. Most importantly, this collaboration reinforces our belief that adjustability is the future of cataract surgery. Nevertheless, we have considerable work ahead of us to translate this opportunity into broader adoption. As I continue my assessment, I want to ensure that we have the flexibility to evaluate the business thoroughly and to make the decisions we believe are in the best long-term interest of the company and our shareholders. While underlying trends remain generally consistent with what we previously guided, this work will require time and we should not allow our prior outlook to constrain actions we may ultimately determine are appropriate. For that reason, we have decided to withdraw our previously issued full-year financial guidance. We recognize the guidance was provided recently and we did not make this decision lightly. We believe that this is the appropriate step while we complete our assessment. We will resume formal guidance in early 2027. Before sharing my initial priorities and perspectives on the path forward, I will turn the call over to Mark to review our second quarter financial results and provide some directional commentary on the remainder of the year. Mark? Mark Wilterding: Thanks, Aziz, and good afternoon, everyone. Consistent with the revenue range we preannounced last month, second quarter total company revenue was $33.7 million, including $6.5 million recognized in connection with our strategic collaboration agreement with Alcon. This amount represents the portion of the initial milestone payment allocated to our licensed intellectual property. Excluding revenue related to Alcon, our second quarter product sales were $27.2 million, down 19% compared to the prior year period, reflecting heightened competitive trialing as well as broader marketplace headwinds. Second quarter LAL unit volumes were 24,917, down 9% compared to the prior year period. LAL procedure volume translated into second quarter sales of $24.5 million, representing 90% of RxSight product revenue. During the quarter, we placed 12 LDD units, which accounted for $1.3 million of quarterly revenue. We exited the quarter with an installed base of 1,166 LDD units. Excluding the benefit from the partnership, second quarter gross margin was 71.2% compared with 74.9% in the prior year period. The year-over-year decline primarily reflected higher inventory-related costs due to slower-than-expected inventory flow-through, including the favorable contribution of collaboration revenue. Second quarter gross margin was 76.7%. Second quarter 2026 SG&A expense were $30.4 million, up 5% compared to the prior year period, primarily reflecting legal and consulting expenses associated with the collaboration. Second quarter research and development expenses were $9.2 million compared to $10.2 million in the prior year period. This year-over-year decline was primarily due to lower personnel-related expenses. We reported a net loss in the second quarter of $12.1 million, or $0.29 per basic and diluted share, based on 41.5 million weighted average shares outstanding. Stock-based compensation was $7.5 million, resulting in an adjusted net loss of $4.6 million or $0.11 per share. We ended the second quarter with cash, cash equivalents, and short-term investments of approximately $209 million. This amount does not include the $60 million upfront payment related to the partnership agreement that was received after quarter end. As Aziz previously mentioned, while current business trends remain generally consistent with our previous expectations, we have decided to withdraw our formal full-year 2026 financial guidance as we complete our assessment of the business. That said, we would like to provide some directional commentary on the key factors we expect to influence performance over the remainder of the year. We continue to expect to recognize between $30 million to $40 million of revenue associated with the Alcon strategic agreement. Revenue will be recognized as certain performance obligations are achieved, so the timing by quarter will be variable. Based on our current expectations, we anticipate limited revenue contribution in Q3 with the balance of the $30 million to $40 million recognized in Q4. With respect to the core business, we are encouraged by quarter-to-date trends, particularly the continued confidence physicians have expressed in our technology. At the same time, we expect continued competitive activity and ongoing product trialing, along with typical Q3 seasonality and broader market trends to influence performance through the remainder of the year. As Aziz noted earlier, we will resume providing formal financial guidance when we report our fourth quarter 2026 results in early 2027. With that, I'll turn the call back to Aziz. Aziz Mottiwala: Thanks, Mark. Our second quarter results underscore the work we have ahead of us. Competitive launches, market conditions, seasonality, and patient affordability are all real factors, and each can affect quarterly performance. However, based on what I've seen so far, I believe there's an opportunity to significantly enhance our strategy and execution. We've built a substantial install base and established strong belief in the value of the technology among our customers. However, we are not yet driving the level of procedure volume and utilization that we believe this platform is capable of achieving. We need to ensure that we have the right commercial strategy, customer support model, and capabilities to help practices more fully integrate the light adjustable lens into their workflows and make adjustability an increasingly prominent component of their cataract surgery offering. My immediate priorities are straightforward. First, we'll complete a thorough assessment of our business and commercial model. Second, we'll work to strengthen our commercial team and build higher utilization across the install base. As part of this growth strategy, we've approved plans to double our U.S. sales team over time, allowing us to expand our reach while continuing to support existing customers. We expect to fund this expansion primarily by reallocating resources within the organization and without meaningfully increasing overall operating expenses. Third, we will elevate execution and operating discipline. This includes improved forecasting, driven by greater visibility into the underlying drivers of the business, in addition to enhanced agility needed to adapt quickly to changes in the marketplace. Finally, we will continue to advance our internal pipeline of next-generation adjustable lenses, which are designed to improve workflow, enhance performance, and expand the range of patients who may benefit from adjustability. We will also establish the processes and capabilities to advance our collaboration with Alcon, which represents important strategic validation of our platform. Our focus will be on achieving the development milestones and advancing these next-generation products to commercialization. The collaboration is expected to generate meaningful long-term value through future royalties and bring the power of adjustability to as many cataract patients as possible. This work will take time. Completing the assessment is the first step. We must then translate those insights into actions, execute them consistently across the organization, and ultimately influence physician and practice behavior. We'll make disciplined decisions, establish clear priorities, and deliver measurable progress. As this work advances, we will provide greater clarity regarding our strategic priorities, the actions we're taking, and the milestones we will use to evaluate progress. We will also communicate openly about what is working, what requires further attention, and how our perspective is evolving. We expect to provide more specificity in our next quarterly update. I knew when I joined RxSight there would be significant work ahead. I joined because our technology matters. The market opportunity is significant, and I believe we can translate the potential into meaningful results for patients, customers, and shareholders. With that, I'll ask the operator to open it for questions. Thank you. Operator: [Operator Instructions] Your first question comes from the line of Robbie Marcus with JPMorgan. Robert Marcus: Aziz, welcome, and congratulations on the new role. You touched on this a little bit, but 2 for me. First off, if you could give a little bit of what made you step in here? What was it about RxSight and the company and the product and the opportunity that made you step in here? And then I have a follow-up. Aziz Mottiwala: Sure, thank you for that. You know, RxSight's a really unique company. I've been in the eye care space for quite some time. And one of the things I always consistently hear is that this is one of the biggest breakthroughs in cataract surgery technology. I've talked to a lot of thought leaders, key opinion leaders, and you hear this very consistently. So that was very intriguing. As I've dug into the business and obviously assumed the role, it's really solidified my belief that this is the future of cataract surgery. The other aspects I looked at is there's a lot of similarities to what I've recently done. Spent a lot of time building a new category in eye care, and this is still a nascent category in my mind in eye care. An area where we're building the value of adjustability, the ability to tailor results for patients and really transform cataract surgery. And if you think about it, there's a lot of things that are similar. We're changing physician behavior. We have to adjust practice workflow. But we're dealing with a technology that delivers great outcomes. So there's a lot of similarities between what's going on here at RxSight and my past experience. And it's an area that if I'm in eye care, I'm hearing my physician colleagues really excitedly, and that gets me excited about the future potential here as well. Robert Marcus: And I know it's still very early days. We're talking days into the role here. Any preliminary views on what do you think happened that led to the deceleration in growth and the lower utilization, and any early thoughts on how you might be able to go and address this and restimulate the business after a slowdown? Aziz Mottiwala: No, it's the right question to ask. And obviously, we're in the process of doing a thorough business assessment to really come back with what is the right strategy and direction to guide the company to really maximize what we think the long-term value of this is. And maybe I'll start with a couple of things I'm hearing from physician colleagues. I'm spending a lot of time talking to doctors to really understand the dynamics. And what I can tell you is doctors continue to believe that this is one of the best technologies. Nobody I've talked to said that they've capped out their ability to do LALs. They've all said they could do more. It's really about us putting the right strategy forward. And I think, you know, what happened, I believe that you go into a market like this, you establish that initial user base, and candidly, I think what we're doing is pivoting now to drive depth, right? So we've established a broad user base and pivoting to depth takes a little bit of time, takes a little different strategy. So I think what you're going to hear from us is an assessment that gives us what are the levers, what are the strategies we can employ and how we can execute to really drive that depth of utilization. So, you know, the short answer to your question is this pivot from breadth to depth and what really encourages me about what we can do here is the feedback we're hearing from doctors that they still believe this is the best technology and that not a single doctor I've talked to said that they've capped out on what they can do with LALs. It's just a matter of us working with those practices to improve workflow, help identify the right patients, and really partner and get the education out there on the results that this technology delivers, it does very consistently. Operator: Your next question comes from the line of Ryan Zimmerman with BTIG. Unknown Analyst: Hi, this is Jocelyn on for Ryan. So, LDD placements came in at 12 units in Q2. With the placement of your first LDD rental unit, moving forward, how much of your LDD pipeline do you anticipate shifting toward rental units versus capital purchases, particularly as you target international markets to lower the barrier to entry? Mark Wilterding: Hey, Jocelyn, it's Mark. Thanks for the question. Yes, we were excited about our first rental contract in the second quarter and it's something we'd be open to more of, especially as, like you said, we look to go more into the international markets. I don't have a figure for you or a level that we're targeting per se. I think what we want to do is offer a range of solutions and opportunities for customers and really allow them to partner with us and pick the direction that makes the most sense and that's mutually beneficial. So it's something we'll continue to pursue. I don't have a way to, like I said, put an exact number behind it though, but we're excited about the potential of them. Unknown Analyst: And also with the recent regulatory approvals in markets like New Zealand and ongoing commercial efforts in Europe and Asia, has the Alcon collaboration altered your standalone OUS commercial strategy at all? Aziz Mottiwala: No, I think the way I think about that is broadly, right, when we look across the world. The value of cataract surgery continues to be high. Adjustability continues to be a technology that we're hearing from thought leaders and surgeons from around the world that they're very interested in. So we see that as a continued opportunity. I think we need to be really thoughtful about going into markets where there is real potential, where we have access to customers, where we can get real traction. So we're being thoughtful how we expand in a really thoughtful and methodical way. And that's really a unique and separate strategy than what we see with Alcon, which is to really expand the offering of adjustability across a wider range of lenses. And of course, what that means is being able to offer to a broader array of patients. And in my mind, there's a world where every premium lens has a value of adjustability, which would be tremendous. So I look at those as connected but sort of discrete in how we approach it from a strategy perspective. Operator: Your next question comes from the line of Larry Biegelsen with Wells Fargo. Larry Biegelsen: Welcome and congratulations, Aziz. What can you share about your success in your prior roles or the key success factors or prior companies in the ophthalmology space that you think might be applicable to RxSight? Aziz Mottiwala: Yes, thank you for that question and thank you for the kind words. There's a few things I think really help us here. I think there's some things in terms of how we operate. I think operating discipline, which I know Mark has started to institute in his tenure here so far, we continue to refine that. I think getting really close to the customer as well, creating that connectivity, it's one of the things we really prided ourselves on in multiple areas that I've spent my career in eye care. The connection with eye care doctors tends to be very collegial, they tend to be very collaborative. And as I mentioned earlier, they love this technology and they really want to find ways to expand utilization and it's incumbent upon us to channel that enthusiasm. So operating discipline, customer connectivity is 2. And then third is just a really thoughtful way of continuing to educate and propagate the data and real-world results that technology offers. In every market that I've helped build in my career, education and thoughtful education to the community has always been a critical pillar. And I think we can do a lot more here to extol the virtues of adjustability. Doctors have case studies, they have real world experience. This has done exceptionally well in the real world as well as in the clinic. So I think there's opportunities to expand and double click on the value of education. So I think how we operate, getting really close to the customer and really leveraging the surround sound education and experience doctors have are some examples. There's probably more, but we're obviously assessing where else we can leverage things and do what's right for this business because there's a lot of translatable things, but this is also a unique opportunity. So we want to be thoughtful about tailoring our approach to what's going to maximize the value for LAL. Larry Biegelsen: That's helpful. And just one on the Alcon collaboration. Well, it's actually not on the Alcon, but the Alcon deal was not exclusive. Could you envision doing similar agreements with other companies? Aziz Mottiwala: I think we've been very thoughtful. The management team worked with Alcon. Alcon is a leader in the industry. They have great capabilities. And certainly, we bring a lot to the table here when it comes to adjustability. So our focus right now is how do we make this partnership really come to fruition, realize the milestones, which are very significant for us in terms of the cash value that it can add over the next few years and then the royalty. So it's not exclusive. But as we sit today, I'd like to focus on what's right in front of us, which is a really valuable opportunity with a great partner to expand the use of this technology to a broad base of patients and across multiple platforms in IOL. So it's not exclusive, obviously that gives us options long term, but if you ask what our focus is today, it is to maximize the value of our relationship with a great partner today. Operator: Your next question comes from the line of Stephanie Elghazi with Bank of America. Stephanie Piazzola: I have a question for Aziz, and I'll echo congrats on the new role. You laid out some of your areas of focus, which sounded aligned with some of the recent initiatives that have been talking about for a few quarters like improving utilization and expanding the sales force. So maybe you can just help with your vision or plan for the company and what's similar and or different. And I guess I'll just ask my second question up front. Just how you're thinking about that in the context of the guide being withdrawn to maintain flexibility and if that suggests some bigger changes on the horizon. Aziz Mottiwala: Sure, so let's maybe just talk about the guide first, right? I think you heard Mark say in the prepared comments, the overall business is doing a little bit better than the prior quarters. The beginning of third quarter, we're seeing some better trends. I think that's great. So fundamentally, that tells me, hey, we're making some right moves. With that said, I want to make sure that we're able to do a thoughtful assessment. And if we do need to make decisions, we can do them in a very quick time period here and course correct the business, not just to hit the end of the year, but really to orient the business for the next several years of growth. So dovetails into your next question is what's the same, what's different? I think fundamentally you're hearing a strategy here, right? We're going into depth with the accounts. We're going to get closer to the customer. We're going to have a broader sales force to get in front of the customer often. These are fundamentals. I think there's a lot more to peel back here to really elevate this organization to drive the full potential of LAL. Sort of goes back to why I decided to come here. I really believe that this has tremendous potential and that we've just scratched the surface. It's really about orienting a bigger overarching strategy. I think there's things that we're doing that are right on the path. I think that there's more that we can do. And I think you hit the nail on the head with this is not about any signal around how the business is performing today vis-a-vis the prior guidance. This is really about us saying, hey, look, we may need to make some more changes, and we just want to account for any disruption in the business that might happen in that acute period. But the idea is that we do that in an acute period, orient the business back on track, get it to a growth trajectory for the long term, and then give you guys and gals a good visible line of where we're headed in 2027. Operator: [Operator Instructions] Your next question comes from the line of Xuyang Li with Jefferies. Young Li: Welcome, Aziz. Looking forward to working with you and congrats on the new role. I guess first question is in terms of your assessment, just when you think you'd be able to finish it, I know we'll hear more on the next earnings call. Do you think it will largely be finished by then. And then if you can, just in general, if you can talk a little bit about the type of KPIs you focus on as well as your approach to guidance. Aziz Mottiwala: Sure thing. Yes, so, you know, obviously we want to be thoughtful about how we did the assessment, but we want to be pretty thoughtful about doing it quickly and in a really disciplined manner so we can kind of get past that and move to orienting the business to growth. In terms of a specific timeline, I think you'll hear updates on the next quarter. I think a good way to think about this is we're committing to giving '27 guidance, when we do year-end earnings. So that's a great point to say, hey, here's all the changes we made, here's how we're orienting the business for the targets for '27, that's likely going to have some implications of how we think about the business in the future as well. So I think that's kind of the time work -- the timeline and framework we're thinking. In terms of KPIs, you know, the obvious one is the number of LALs we can get in the patient's eyes. That's obviously the first and foremost. And in terms of other indicators, part of the assessment is, are there other KPIs that really align to where we're heading the business? So that's part of the assessment will be part of the plan. You can think about, hey, here's the strategy. Here's how we're going to execute. Here's how we're going to measure. And here's what you can expect to see. So that's sort of the recipe we want to deliver externally over the coming months and certainly as we get in line to give guidance again for '27. Young Li: All right. Great.That's very helpful. And then, you met with some of the certain customers already and it sounds like there's been a lot of positive feedback and on opportunities and the potential there. Just maybe on the flip side, what were some of the issues or frictions or challenges they highlighted to you? Aziz Mottiwala: Sure. I mean, I think this is an area where it's been really remarkable because we're hearing a lot of positive feedback and even some of the challenges we hear from physician colleagues, some I've known for many, many years, almost all of them are approaching it with a very solution-oriented attitude, right? Hey, I want to use more LALs. I'm just trying to figure out how to optimize workflow, for instance. Hey, I would love to use more. Let's figure out who are the ideal patients. Where do I use a multifocal? Where do I use this and how can I expand my utilization or broader patient offering, right? So these are the things we're hearing, right? Who's the ideal patient? How do we integrate it in a workflow? Those are really easily addressable over time. This is about education, this is about sharing best practices across clinics. And these are areas that I think you're going to see a lot more depth of from us in terms of a broader strategy. But to me, it's actually very reassuring, right? There's not a significant major obstacle to opening this up. It will take some time to make sure we get those messages right, the positioning right, we get buy-in from the physicians and really understand what's going to resonate with them, but I think that's where, when we mentioned earlier in one of the prior questions, the value of education, educating them on this is how you can maximize it in your practice. This is how you pick the right patients. I mean, I talked to one doctor who's done his 3,000th eye. So there are people that have gotten this down to a science and if we can leverage those experiences and replicate those broadly, I think that's going to address a lot of these perceived barriers. Operator: Your next question comes from the line of Tom Stephan with Stifel. Thomas Stephan: Aziz, congrats on the new role. And Aziz, just one question for you. Sort of as we think about your pharma experience, it would be great if you can talk about just the anterior segment landscape more broadly from a physician or from a practice standpoint. Would love to hear your views on quality intersection between drugs and devices in cataract and refractive surgery and for these anterior segment surgeons, what areas is focus increasing at the practice level? Where is kind of the puck going as we think about the customer? Aziz Mottiwala: It's a great question and what I'm really passionate about, having been in this space for so long and really purposely thinking about where areas I can contribute to exactly where the puck is going, right? That's part of the science and the art here. I'd say the biggest overall trend I'm seeing, and this is relevant to my prior experience and I think is highly relevant here at RxSight, patients are becoming more and more demanding, and the expectation is the physician is able to deliver real results. Good enough is no longer good enough, if that makes sense, right? People want perfect vision. They don't want any aspects to come in the way. Think about the demographic of a person getting cataract surgery today versus say 15 years ago. It's very different. People are living much more active lifestyles. They want to be able to do everything that they were able to do in their younger years as they're in their post-cataract years. So I think the physicians are looking for ways to optimize that value to the patient. The satisfaction expectation is increasing. And the doctors want to meet that need. They really genuinely want to deliver amazing outcomes. So I think there's a higher premium in terms of technologies and products, whether it be on the pharma or device side that offer real meaningful outcomes. So if you're thinking about therapeutics, right, marginal therapeutic benefit, unless it's a very sight-threatening disease, obviously, is not going to cut it. They're really looking for products that really make a difference. And I think the same thing on the surgical realm, right? A little bit better is not going to cut it. They're looking for, hey, can I get out of glasses? Can I really nail the outcomes? And that's where, when I looked at the opportunity here, I said, this is the technology that does this in surgery. We have that ability and I think we can really double click on the trend of patients wanting better and better outcomes and demanding perfection and our ability with our technology to actually meet that need. I think that intersection is somewhere we can play really, really nicely. Thomas Stephan: That's great. Thanks, Aziz. Congrats again. Operator: There are no further questions at this time, and that concludes today's call. Thank you all for joining. You may now disconnect. 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Interested in RxSight, Inc.? Here are five stocks we like better. Q2 revenue was $33.7 million, including $6.5 million from the Alcon collaboration, while core product sales fell 19% year over year to $27.2 million and LAL unit volume declined 9% to 24,917 units. RxSight withdrew its full-year 2026 guidance as new CEO Aziz Mottiwala conducts a review of the company’s commercial model, execution and strategy. Management plans to focus on increasing utilization of its installed base, strengthening sales execution and improving forecasting. The company reported a $12.1 million net loss and ended the quarter with about $209 million in cash and short-term investments, excluding a subsequent $60 million Alcon upfront payment. RxSight expects to recognize $30 million–$40 million from the Alcon agreement in 2026. RxSight (NASDAQ:RXST) reported second-quarter revenue of $33.7 million, including $6.5 million recognized under its strategic collaboration with Alcon, while management withdrew its full-year 2026 financial guidance as new Chief Executive Officer Aziz Mottiwala conducts a broader assessment of the business. Excluding the Alcon-related revenue, product sales were $27.2 million, down 19% from the prior-year period. The company said the decline reflected heightened competitive trialing and broader marketplace headwinds. Light Adjustable Lens, or LAL, unit volume fell 9% year over year to 24,917 units. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control LAL procedure volume generated $24.5 million in second-quarter sales, representing 90% of RxSight product revenue. The company placed 12 Light Delivery Device, or LDD, units during the quarter, generating $1.3 million in revenue, and ended the period with an installed base of 1,166 LDD units. Excluding collaboration revenue, gross margin was 71.2%, compared with 74.9% a year earlier. Chief Financial Officer Mark Wilterding said the year-over-year decline primarily resulted from higher inventory-related costs associated with slower-than-expected inventory flow-through. Including the favorable impact of collaboration revenue, gross margin was 76.7%. → 3 Drone Stocks That Should Soar After the Summer Slump Selling, general and administrative expense rose 5% year over year to $30.4 million, primarily due to legal and consulting expenses connected to the Alcon collaboration. Research and development expense declined to $9.2 million from $10.2 million, mainly because of lower personnel-related costs. RxSight reported a net loss of $12.1 million, or $0.29 per basic and diluted share, based on 41.5 million weighted average shares outstanding. Stock-based compensation was $7.5 million, resulting in an adjusted net loss of $4.6 million, or $0.11 per share. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure The company ended the quarter with approximately $209 million in cash equivalents and short-term investments. That figure did not include the $60 million upfront payment from the Alcon agreement, which RxSight received after the quarter ended. Mottiwala, who recently joined the company after serving as chief commercial officer at Tarsus Pharmaceuticals, said RxSight is evaluating its commercial model, execution capabilities and strategy to improve adoption and utilization of the LAL platform. “While underlying trends remain generally consistent with what we've previously guided,” Mottiwala said, “this work will require time, and we should not allow our prior outlook to constrain actions we may ultimately determine are appropriate.” Management said it will resume formal guidance when it reports fourth-quarter 2026 results in early 2027. Wilterding added that the company expects to recognize between $30 million and $40 million of revenue from the Alcon strategic agreement during 2026. RxSight expects limited contribution from that agreement in the third quarter, with the balance expected in the fourth quarter, depending on the timing of performance obligations. For the core business, Wilterding said quarter-to-date trends had been encouraging, but the company expects competitive activity, product trialing, typical third-quarter seasonality and broader market trends to continue affecting results through the remainder of the year. Mottiwala said the company has developed a substantial installed base and strong physician confidence in its technology but is not yet achieving the procedure volume and utilization it believes the platform can support. He cited competitive launches, market conditions, seasonality and patient affordability as factors affecting quarterly performance. RxSight’s immediate priorities include: Completing a comprehensive assessment of the business and commercial model. Strengthening the commercial organization and increasing utilization across the installed base. Doubling its U.S. sales team over time, primarily through reallocating internal resources without meaningfully increasing overall operating expenses. Improving forecasting, operating discipline and the company’s ability to respond to market changes. Advancing next-generation adjustable lenses intended to improve workflow, performance and patient eligibility. In discussions with physicians, Mottiwala said he has heard continued confidence in the LAL technology and has not encountered doctors who believe they have reached the maximum number of LAL procedures their practices could perform. He said the company’s challenge is to help practices improve workflow, identify appropriate patients and better integrate the technology into their cataract surgery offerings. “We’ve established a broad user base, and pivoting to depth takes a little bit of time, takes a different strategy,” Mottiwala said. Mottiwala described the Alcon collaboration as external validation of RxSight’s technology and a source of non-dilutive capital. The agreement includes $200 million in upfront and potential future milestone payments, along with the potential for long-term royalties, according to management. The CEO said the partnership is non-exclusive, but that RxSight’s current focus is on achieving development milestones and maximizing the value of the relationship with Alcon. He said the collaboration is designed to expand adjustability across a wider range of intraocular lens platforms and potentially to a broader patient population. Outside the U.S., management said RxSight continues to see opportunity in international markets, including recently approved markets such as New Zealand, while seeking to expand selectively where it believes there is customer access and commercial potential. The company also completed its first LDD rental contract during the second quarter and said it may pursue additional rental arrangements, particularly as it expands internationally. RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction. Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "RxSight Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Total Revenue: $33.7 million for Q2 2026, including $6.5 million from the Alcon collaboration. Product Sales (ex-Alcon): $27.2 million, down 19% year-over-year. LAL Unit Volume: 24,917 units, down 9% year-over-year. LAL Product Revenue: $24.5 million, representing 90% of RxSight product revenue. LDD Revenue: $1.3 million from 12 LDD unit placements in the quarter. Installed Base: 1,166 LDD units at quarter end. Gross Margin (ex-Alcon): 71.2%, down from 74.9% in the prior-year period. Gross Margin (incl. Alcon): 76.7%. SG&A Expense: $30.4 million, up 5% year-over-year. R&D Expense: $9.2 million, down from $10.2 million in the prior-year period. Net Loss: $12.1 million, or $0.29 per share. Adjusted Net Loss: $4.6 million, or $0.11 per share, excluding $7.5 million in stock-based compensation. Cash Position: Approximately $209 million in cash and short-term investments, excluding the $60 million upfront payment from Alcon received after quarter end. Warning! GuruFocus has detected 4 Warning Signs with RXST. Is RXST fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. RxSight Inc (NASDAQ:RXST) secured a strategic collaboration with Alcon, providing $200 million in upfront and potential milestone payments plus long-term royalties, which validates its technology and strengthens its financial position. The company's Light Adjustable Lens (LAL) technology is highly regarded by physicians, with many surgeons choosing it for their own family members, reflecting strong clinical confidence. A phase IV registry study with over 1,100 patients demonstrated strong refractive and visual outcomes, reinforcing the clinical efficacy of the LAL platform. RxSight Inc (NASDAQ:RXST) plans to double its U.S. sales team to drive higher utilization and expand reach, funded by reallocating resources without significantly increasing operating expenses. The company ended Q2 2026 with approximately $209 million in cash, plus an additional $60 million upfront payment from Alcon received after quarter-end, providing ample liquidity for strategic initiatives. RxSight Inc (NASDAQ:RXST) withdrew its full-year 2026 financial guidance, creating uncertainty about near-term performance and signaling potential strategic changes. Second quarter product sales declined 19% year-over-year, reflecting heightened competitive trialing and broader marketplace headwinds. LAL unit volumes decreased 9% year-over-year, indicating slower adoption and utilization challenges. Gross margin (excluding collaboration revenue) fell to 71.2% from 74.9% in the prior-year period, due to higher inventory-related costs from slower inventory flow-through. The company faces ongoing competitive activity, product trialing, and typical Q3 seasonality, which are expected to influence performance negatively through the remainder of the year. Q: What are your initial thoughts on the business and the reasons for withdrawing full-year 2026 financial guidance?A: Aziz Mottiwala (President and CEO) stated that while underlying business trends are generally consistent with prior expectations, the decision to withdraw guidance was made to allow for a thorough assessment of the business without being constrained by prior outlooks. He emphasized the need for flexibility to make decisions in the best long-term interest of the company and shareholders, with formal guidance expected to resume in early 2027. Q: What are your immediate priorities and strategic focus areas for the company?A: Aziz Mottiwala (President and CEO) outlined four immediate priorities: completing a thorough assessment of the business and commercial model; strengthening the commercial team and building higher utilization across the install base, including plans to double the U.S. sales team over time; elevating execution and operating discipline with improved forecasting; and advancing the internal pipeline of next-generation adjustable lenses while establishing processes to advance the Alcon collaboration. Q: What were the key financial results for the second quarter of 2026?A: Mark Wilterding (CFO) reported second-quarter total revenue of $33.7 million, including $6.5 million from the Alcon collaboration. Excluding Alcon-related revenue, product sales were $27.2 million, down 19% year-over-year. LAL unit volumes were 24,917, down 9% year-over-year. The company placed 12 LDD units, ending the quarter with an installed base of 1,166 units. Gross margin excluding the partnership was 71.2%, and the company reported a net loss of $12.1 million. Q: What factors contributed to the deceleration in growth and lower utilization, and how do you plan to address them?A: Aziz Mottiwala (President and CEO) acknowledged that competitive launches, market conditions, seasonality, and patient affordability are real factors affecting quarterly performance. He noted that physicians still believe in the technology and have not capped their ability to perform LAL procedures. He characterized the current situation as a pivot from establishing a broad user base (breadth) to driving depth of utilization, which requires a different strategy and closer customer engagement. Q: How is the Alcon collaboration impacting the company's standalone international commercial strategy?A: Aziz Mottiwala (President and CEO) clarified that the Alcon collaboration has not altered the standalone international strategy. The company remains thoughtful about expanding into markets with real potential and traction. He views the Alcon partnership as a separate but connected strategy focused on expanding adjustability across a wider range of lenses, potentially making adjustability a feature of every premium lens. Q: What is the company's approach to LDD placements, particularly regarding rental units versus capital purchases?A: Mark Wilterding (CFO) confirmed the company placed its first LDD rental unit in the second quarter and is open to more rental contracts, especially for international markets. He noted the company aims to offer a range of solutions to customers, allowing them to choose the most mutually beneficial arrangement, though no specific target for rental versus capital placements was provided. Q: What are the key success factors from your prior experience that you plan to apply at RxSight?A: Aziz Mottiwala (President and CEO) highlighted three key factors: operating discipline, strong customer connectivity, and a thoughtful approach to education. He emphasized the importance of getting close to customers, leveraging the collegial nature of the ophthalmic community, and expanding educational efforts to share real-world results and case studies that demonstrate the value of adjustability. Q: Could the company consider similar non-exclusive collaboration agreements with other companies in the future?A: Aziz Mottiwala (President and CEO) stated that while the Alcon agreement is non-exclusive, the current focus is on maximizing the value of the existing partnership with Alcon, which is a leader in the industry. He noted that the non-exclusive nature provides long-term options, but the immediate priority is realizing the significant milestones and royalties from the Alcon collaboration. Q: What is the timeline for completing your business assessment, and what KPIs will you focus on?A: Aziz Mottiwala (President and CEO) indicated that updates on the assessment will be provided at the next quarterly update, with a commitment to providing formal 2027 guidance during year-end earnings. He identified the number of LAL procedures as the primary KPI and noted that part of the assessment involves determining additional KPIs that align with the company's strategic direction. Q: What feedback have you received from surgeons regarding the challenges or frictions they face with the technology?A: Aziz Mottiwala (President and CEO) shared that physicians are approaching challenges with a solution-oriented mindset. Common themes include optimizing workflow and identifying ideal patients to expand utilization. He noted these are addressable through education and sharing best practices across clinics, and he expressed reassurance that there are no major obstacles preventing broader adoption of the technology. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

ALISO VIEJO, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- RxSight, Inc. (NASDAQ: RXST) today reported financial results for the quarter ended June 30, 2026, and provided an update on its 2026 financial outlook. Second Quarter 2026 Highlights Total company Q2 revenue of $33.7 million, which includes $6.5 million in revenue recognized from the RxSight Alcon strategic collaboration Q2 product sales of $27.2 million including: Cash, cash equivalents and short-term investments of approximately $209 million as of June 30, 2026 Strategic Highlights RxSight highlighted the following recent developments that position the company for long-term success: Appointed eye care industry leader, Aziz Mottiwala, as President and Chief Executive Officer Entered into a strategic collaboration with Alcon to develop and commercialize light-adjustable presbyopia-correcting intraocular lenses with up to $200 million upfront and milestone payments and significant future royalty potential Formally announced development of the next-generation RxSight Light Adjustable Technology platform, including new LAL, LAL+ and LAL Toric lenses intended to improve workflow and reduce required postoperative office visits In connection with the leadership transition, withdrew 2026 guidance; will resume formal guidance in early 2027 “It is a privilege to join RxSight and to work alongside the talented team that pioneered an entirely new category in cataract surgery with the only commercially available IOL platform that enables physicians to adjust and personalize vision after surgery,” said Aziz Mottiwala, President and Chief Executive Officer of RxSight. “The opportunity ahead is significant, and our immediate priority is to strengthen commercial execution, deepen adoption across our installed base and translate the value of adjustability into durable growth. To support those priorities, I have commenced a comprehensive review of the business. While underlying trends remain generally consistent with our prior expectations, withdrawing 2026 guidance gives us the flexibility to establish the right operating plan and focus our resources on the core business, our pipeline and the Alcon collaboration.” Second Quarter Financial Results In the second quarter of 2026, total revenue was $33.7 million, including $6.5 million recognized under the company’s strategic collaboration with Alcon. Product sales were $27.2 million, down 19% from the prior-year period, reflecting heightened competitive trialing and continued pressure on consumer sentiment. Excluding the impact from the Alcon collaboration, second quarter gross margin of 71.2% decreased from 74.9% in the prior-year period, primarily reflecting inventory-related costs and the expected flow-through of higher-cost inventory. Including the favorable contribution of collaboration revenue, second-quarter gross margin was 76.7%. Total operating expenses for the second quarter of 2026 were $39.7 million versus $39.2 million in the year-ago period. The increase was primarily driven by higher professional services fees, partially offset by lower compensation and other employee-related costs. In the second quarter, the company reported a net loss of $(12.1) million, or $(0.29) per basic and diluted share, compared to a net loss of $(11.8) million, or $(0.29) per basic and diluted share in the second quarter of 2025. Adjusted net loss in the second quarter of 2026 was $(4.6) million, or $(0.11) per basic and diluted share, compared to an adjusted net loss of $(3.3) million, or $(0.08) per basic and diluted share in the second quarter of 2025. As of June 30, 2026, cash, cash equivalents and short-term investments totaled $208.8 million. Conference Call On Wednesday, August 5, 2026, at 1:30 p.m. Pacific Time, the company will host a conference call to discuss its second quarter 2026 financial results. To participate in the conference call, please dial (800) 715-9871 or (646) 307-1963 and enter the conference code: 1245159. 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. 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, without limitations, statements regarding the company’s expectations related to underlying business trends; the company’s comprehensive review of the business; the company’s ability to strengthen commercial execution, deepen adoption across its installed base and translate the value of adjustability into durable growth; the development and implementation of the company’s appropriate operating plan; the allocation of resources to the company’s core business, pipeline and collaboration with Alcon; the anticipated benefits of withdrawing the company’s 2026 financial guidance; and the company’s ability to realize the full potential of its technology 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 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 June 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. Investor Relations Contact:Oliver MoravcevicVP, Investor [email protected] Supplemental Information on Gross Margin Reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the three months ended June 30, 2026 and 2025 are as follows: Reconciliation of gross margin and gross margin percentage to revenues and cost of sales for the six months ended June 30, 2026 and 2025 are as follows: 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, 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. 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:

UFP Technologies (UFPT) came out with quarterly earnings of $2.92 per share, beating the Zacks Consensus Estimate of $2.51 per share. This compares to earnings of $2.5 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +16.34%. A quarter ago, it was expected that this packaging company and component manufacturer would post earnings of $2.18 per share when it actually produced earnings of $2.48, delivering a surprise of +13.76%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. UFP, which belongs to the Zacks Medical - Instruments industry, posted revenues of $173.96 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.85%. This compares to year-ago revenues of $151.18 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. UFP shares have added about 14.8% since the beginning of the year versus the S&P 500's gain of 9.4%. While UFP has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for UFP was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.68 on $165.01 million in revenues for the coming quarter and $10.23 on $639.81 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, RxSight, Inc. (RXST), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of -162.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. RxSight, Inc.'s revenues are expected to be $32.9 million, down 2.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UFP Technologies, Inc. (UFPT) : Free Stock Analysis Report RxSight, Inc. (RXST) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The market expects RxSight, Inc. (RXST) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of -162.5%. Revenues are expected to be $32.9 million, down 2.2% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For RxSight, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -47.62%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that RxSight will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that RxSight would post a loss of$0.12 per share when it actually produced a loss of -$0.19, delivering a surprise of -58.33%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. RxSight doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Medical - Instruments industry, TransMedics (TMDX), is soon expected to post earnings of $0.5 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of -45.7%. Revenues for the quarter are expected to be $184.17 million, up 17% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for TransMedics has been revised 2.8% down to the current level. Nevertheless, the company now has an Earnings ESP of +8.87%, reflecting a higher Most Accurate Estimate. When combined with a Zacks Rank of #5 (Strong Sell), this Earnings ESP makes it difficult to conclusively predict that TransMedics will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RxSight, Inc. (RXST) : Free Stock Analysis Report TransMedics Group, Inc. (TMDX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ALISO VIEJO, Calif., July 06, 2026 (GLOBE NEWSWIRE) -- RxSight, Inc. (NASDAQ: RXST) today announced select preliminary financial results for the second quarter of 2026 and updates to its standalone product pipeline, following the announcement of the company’s strategic collaboration with Alcon to develop and commercialize light-adjustable Presbyopia-Correcting Intraocular Lenses. Preliminary Second Quarter 2026 Results Total company revenue is expected to be approximately $32 to $34 million, which includes, Sales of approximately $27 million, which includes, Cash, cash equivalents and short-term investments of approximately $209 million as of June 30, 2026. Pipeline Highlights Next-generation RxSight Light Adjustable Technology™ platform, with intermediate-term launches of new LAL®, LAL +®, and LAL Toric lenses with improved workflow and fewer required post-operative treatments. Collaboration with Alcon to innovate our respective platforms to develop and commercialize light-adjustable Presbyopia-Correcting Intraocular Lenses (Simultaneous Vision Intraocular Lenses). “While we faced meaningful commercial headwinds in Q2, including from more widespread competitive trialing, the unique ability of RxSight’s Light Adjustable Technology to customize visual outcomes continued to deliver significant clinical benefits to thousands of patients around the world,” said Dr. Ron Kurtz, Chief Executive Officer and President of RxSight. “To position the company for deeper penetration of current, next-generation, and collaboration products, we are accelerating investments in our LAL sales force and commercial capabilities, while maintaining a disciplined approach to overall spending. By leveraging our differentiated technology, large customer base, strong balance sheet and exciting pipeline, we believe RxSight is well positioned to drive both high-margin implant sales and future royalty income, thereby empowering doctors to deliver the industry’s premier outcomes for even more of their patients.” Updated Product Pipeline RxSight is developing the first and only suite of adjustable IOLs built on its next-generation Light Adjustable Lens technology platform with improved workflow and enhanced performance. Highlights include: Next-generation LAL, designed to deliver best-in-class visual quality and optical clarity, with post-operative refractive optimization to consistently achieve targeted visual outcomes; Next-generation LAL+, designed to improve intermediate vision for everyday activities while preserving high-quality optical performance, with adjustability enabling precise refractive targeting; LAL Toric, designed with built-in astigmatism correction, while still enabling post-operative refinement of residual sphere and cylinder to maximize uncorrected visual acuity. Updated 2026 Guidance 2026 full-year revenue of $140 to $160 million, inclusive of RxSight sales and revenue recognized from the RxSight Alcon Strategic Collaboration, comprised of: Gross margin of 73% to 75%, above previous guidance of 70% to 72%; and Operating expense at the high-end of $150 to $160 million, in line with previous guidance The foregoing financial and operational results are preliminary estimates. RxSight is in the process of finalizing its financial statements for the second quarter of 2026, and its actual results remain subject to completion of those financial statements and their review by its independent registered public accounting firm. These preliminary estimates are based on information available to management as of the date of this press release and certain related assumptions, which could prove incorrect. RxSight’s actual, reported results of operations could differ based on completion of our quarter end closing procedures, final adjustments and developments that may arise prior to completion of its quarterly financial statements, and adjustments arising from the review by its independent registered public accounting firm. You should carefully review RxSight’s unaudited, consolidated financial statements for the second quarter of 2026 when they become available. Conference Calls On Tuesday, July 7, 2026, at 8:00 a.m. Eastern Time, the company will host a conference call to discuss select preliminary financial results for the second quarter of 2026, the company’s strategic collaboration and related product pipeline updates. To participate in the conference call, please dial (800) 715-9871 or (646) 307-1963 and enter the conference code: 5921122. Separately, the company plans to report financial results for the second quarter of 2026 after the market close on Wednesday, August 5, 2026. Management will discuss more comprehensive second quarter results and provide additional updates during a conference call shortly following the announcement. Both conference calls 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 calls will be available through the same link shortly after their completion. 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 within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements in this press release that are not purely historical are forward-looking statements, including, without limitation, statements regarding our preliminary second quarter 2026 financial and operating results and the anticipated timing of announcing unaudited second quarter 2026 financial results; our projected revenue, gross margin and operating expense in 2026; our product development pipeline and anticipated timelines; potential payments that we may receive in connection with the collaboration agreement with Alcon, a description of which (including material terms and conditions) may be found in the Current Report on Form 8-K filed on or about the date hereof with the SEC, including potential milestone payments and royalties; our strategic plan; our belief that RxSight is well positioned to drive both high-margin implant sales and future royalty income, thereby empowering doctors to deliver the industry’s premier outcomes for even more of their patients; and LDD and LAL sales growth trends, including commercial headwinds. 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, including those relating to the strategic collaboration with Alcon (uncertainty as to whether the anticipated benefits and opportunities of the proposed collaboration may be realized or make take longer to realize or may cost more than expected; risks of unexpected hurdles, costs or delays; challenges in technology transfer and manufacturing; challenges inherent in new product candidate development, including obtaining regulatory approvals; challenges associated with collaborating with third parties, including intellectual property, operational, financial and other risks; uncertainty of commercial success for new products; the ability of RxSight and Alcon to successfully execute their respective strategic plans and those risks described in the company’s prior press releases and the company’s filings with the Securities and Exchange Commission (SEC), including in Part II, Item 1A (Risk Factors) of the company’s Quarterly Report on Form 10-Q for the period ended March 31, 2026, filed with the SEC on May 6, 2026, and any subsequent filings with the SEC. 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. 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. Investor Relations Contact:Oliver MoravcevicVP, Investor [email protected]

Image source: The Motley Fool. Wednesday, May 6, 2026 at 4:30 p.m. ET President & Chief Executive Officer — Ronald Kurtz Chief Financial Officer — Mark Wilterding Need a quote from a Motley Fool analyst? Email [email protected] Ronald Kurtz: Good afternoon, everyone, and thank you for joining us today. Before Mark takes us through the Q1 numbers, I'd like to provide an overview of our commercial progress, starting with the Annual Meeting of the American Society of Cataract and Refractive Surgery held just a few weeks ago in Washington, D.C. As the largest U.S. meeting focused on refractive and premium cataract surgery, RxSight's light adjustable lens technology continued to be a key focus for doctors. Over 30 papers and posters were presented and numerous podium discussions highlighted the consistency, precision and versatility that the LAL brings to cataract surgeons and their patients. At the meeting, we also marked an important milestone, 300,000 LAL implants since commercialization in the U.S. In addition, we launched our I Trust It With My Own Eyes campaign, featuring ophthalmologists who have chosen the Light Adjustable Lens for their own eyes. These doctors as patient stories reinforce what our survey data already shows. Nearly 80% of ophthalmologists and optometrists say they would choose the LAL for themselves or a loved one, highlighting the level of confidence doctors have in the LAL's ability to deliver high-quality, customized binocular vision. Our experiences at ASCRS reinforce what we are seeing in the real-world practices, namely that when doctors experience firsthand how they can predictably leverage postoperative adjustability to achieve such outcomes, it translates into greater confidence and drives the premium revenue that is critically important for the health of the practice, especially given recent reimbursement pressures. Entering the year, a key priority for our team was to continue to refine the customer reengagement programs launched in the second half of 2025 and to accelerate these efforts in 2026 and beyond. While we still have work to do, we're encouraged by the progress we have made so far this year. LAL volumes were consistent with prior year levels and utilization has now stabilized for the third consecutive quarter. More importantly, we're starting to see clear early signs that these efforts are working, particularly in practices where we've reengaged with physicians and staff through clinical outcome reviews, targeted IOL counseling training, refresher education and in-person workflow support. Internationally, we remain committed to take a measured and thoughtful approach to expansion with the goal of building a durable foundation for long-term growth outside the U.S. We are focused on establishing the optimal clinical, commercial and operational infrastructure in each market and on building relationships with leading surgeons who can help support adoption over time. As part of that effort, we were pleased to receive approval in New Zealand last month, which represents another step in expanding the global reach of the LAL system. While we expect international contributions to remain modest in the near term, the opportunity outside the U.S. is significant and will become a more meaningful driver of growth in 2027 and beyond. With that, I'll turn the call over to Mark, who will now go through our first quarter financials and guidance for the remainder of the year. Mark Wilterding: Thanks, Ron. Q1 sales of $30.9 million declined 18%, reflecting a year-over-year step down in LDD unit volumes consistent with expectations. During the quarter, we sold 20 LDDs, which accounted for approximately $2 million of quarterly sales. We exited the quarter with an installed base of 1,154 LDD units. Q1 LAL unit volumes of 27,472 were in line with the year ago period and down 4% sequentially. This sequential decline was consistent with typical first quarter seasonality. LAL procedure volumes translated into Q1 sales of approximately $27 million, which represented 88% of total company sales in the first quarter. Higher LAL revenue mix contributed to a gross margin of 76.1% compared to 74.8% in the prior year period. First quarter 2026 SG&A expenses were $31.9 million, up 11% compared to the prior year period, driven by personnel-related expenses as we continue to prioritize investments in new hires and ongoing expansion of our global commercial and support teams. First quarter Research & Development expenses were $9.5 million, down 9% year-over-year. We reported a net loss in the first quarter of $15.9 million or $0.38 per basic and diluted share based on 41.3 million weighted average shares outstanding. Stock-based compensation was $7.9 million, resulting in an adjusted net loss of $7.9 million or $0.19 per share. Turning to 2026 guidance. We are reiterating our full year 2026 revenue guidance of $120 million to $135 million. Consistent with our February commentary, we anticipate that quarterly sales growth rates should improve throughout the year based on our assumption of improving fundamentals and easing year-over-year comparisons. As Ron discussed, we expect our international business to be a modest contributor to sales in 2026, primarily driven by early capital placements. We will continue to expand outside the U.S. in a measured and deliberate way to position the company for sustainable long-term growth. 2026 gross margin guidance of 70% to 72% also remains unchanged. As previously communicated, the anticipated step down from Q1 gross margin reflects the flow-through of higher cost inventory manufactured in 2025. Over time, we expect manufacturing absorption to improve as production levels normalize. We are forecasting 2026 operating expenses to be at the high end of our previous $150 million to $160 million range, reflecting accelerated investments in our global commercial organization. From a phasing perspective, we expect quarterly operating expenses to follow a pattern similar to 2025 with more pronounced spend in the first half of the year. Included in our costs, primarily in operating expenses, we continue to expect noncash stock-based compensation in the range of $30 million to $32 million. With that, I'll turn the call back to Ron. Ronald Kurtz: Thank you, Mark. In summary, the core clinical value proposition of LAL remains strong and clearly differentiated in the premium IOL market with the ability to customize vision after surgery delivering superior patient outcomes and compelling economic benefits for practices. Despite the introduction of numerous Me-Too Fixed IOLs, nothing we are seeing changes our conviction that adjustability represents the next meaningful step forward. When I look at where we are today, the business appears to be stabilizing and our customer engagement programs are beginning to show initial progress, giving us confidence to continue refining the model and expanding it globally in a measured way. At the same time, we're focusing on strengthening our team, improving execution and driving technical innovations that further simplify implementation while delivering best-in-class outcomes. We look forward to sharing additional details on these planned commercial introductions that can help reduce adoption friction for both clinicians and patients by streamlining the clinical workup for post-op adjustments, reducing the number of required LDD treatments and extending the range of correction. And with that, I'll ask the operator to open the call for questions. Operator: [Operator Instructions] Our first question comes from Robert Marcus with JPMorgan. Robert Marcus: It was good to see that you were able to kind of find footing and deliver a modest speed against consensus here. Maybe speak to what you're seeing in the field and how some of the elements of the turnaround are taking, how the reception is? And do you see any green shoots maybe into second quarter of continued improvement here? And then I have a quick follow-up. Ronald Kurtz: Yes. Thank you, Robbie. So I would say that without commenting on Q2, which we're obviously in, the feedback that we're getting both from our customers and just as importantly, from our team is very positive as we continue to roll out reengagement programs, as I described, around some very specific actions where we're able to review clinical outcomes and pearls that have been gained over the past several years as the technology has been rolled out across the U.S. And we now have confidence that continued refinement and expansion of those programs can result in further turnaround in terms of utilization with our customer base, which is quite large, as you know. Robert Marcus: And as I look through the year, it implies basically modest sequential improvement. How do you feel about your ability to grow in 2027? And beyond some of the changes, what are you doing to really reinvigorate interest in LALs to return to a material growth rate to generate profitability again? Mark Wilterding: Robbie, it's Mark. Thanks for the question. We said that our expectation is for growth rates to improve over the course of the year. And it's a reflection of both our belief that fundamentals will improve based on some of the things that Ron just talked through as well as easing comparisons. With respect to growth in 2027, we haven't, as you know, given guidance that far out. But we think of ourselves as a growth company. We invest for long-term sustainable growth, and that includes 2027 and beyond. Ron, anything else you'd add on that? Ronald Kurtz: Yes. I think we, the things that we've commented on continued technological innovation, which will continue to simplify implementation of the LAL, both in the U.S. and then increasingly outside the U.S. where we're starting to establish ourselves. So I think both of those will be growth drivers. I would also say that it's not that we've, I wouldn't characterize what we've experienced as a lack of interest in the LAL. I think there's still quite a bit of interest in the LAL, and we saw that, as I mentioned at the ASCRS meeting, where it continues to be a high area of interest in the medical community, but also at our booth with a lot of activity. So, I think that it's focusing that interest into growth through the programs that we've talked about. Operator: Our next question comes from Ryan Zimmerman with BTIG. Ryan Zimmerman: I want to follow-up on Robbie's question a little bit. I'm curious, and this is a tough question, but how much do you think the stabilization in your, the LAL adoption is a reflection of just the cataract market holding steady, particularly on the AT-IOL side, not deteriorating versus what we saw maybe a year ago relative to the efforts you're making in turning around commercial adoption. And I don't know if you can parse it out, but I'm hoping you could kind of take a swing at that. Ronald Kurtz: Well, it's always as you indicated in your question, it's always hard to parse out what are all the contributors. I believe, based on the responses that we've gotten to date that the actions that we're taking, all things being equal, are positive and are having an impact. Of course, it's always great when the market is working in your direction as well, and we certainly hope that to be the case. But under the things that we can control, we think that we're having a positive impact, and we'll continue to do so as we expand and refine these programs. Robert Marcus: And just a follow-up, are you gated LDD sales at this point? I mean, is there interest from customers that you're holding off on when you think about LDD sales? Or is it just not prioritized amongst the sales force at this point? Ronald Kurtz: I don't think that we are, I would characterize it as gating. I think that we are taking a more measured approach where we want customers to be fully ready to adopt the technology and to be successful with it. That, not that we weren't doing that before, but I think that just the novelty of the LAL in those initial several years just drove a faster pace. And so now we're into a more gradual, but still a lot of strong interest, and we anticipate continuing to add LDDs, obviously, OUS, but also in the U.S. Operator: Our next question comes from David Saxon with Needham. David Saxon: Maybe one on guidance for Mark. I think last quarter, you talked about expectations for low single-digit LAL volume growth for the year. You came in above consensus here in the first quarter. So is low single digits a good way to think about 2026? Or could we be pushing mid-singles? And then kind of the second part of the question is, where does that get us in terms of fleshing out the higher cost inventory? Like at low single digits, does that get us through all of that inventory that's on the balance sheet? Mark Wilterding: Yes. Thanks for the question. I think it was, like I said, a little bit better than expected, but not to the degree where we felt like taking up guidance was warranted. So I think your assumption based on what we said in February is still accurate with respect to LAL growth being in that low single-digit range for the full year. Again, we expect growth rates to improve sequentially by quarter as we go through the year, as I mentioned earlier. But at this point, in the year two, it's always tricky given where we're at kind of early to go out any further than that. So I think it's good to take a more prudent approach, and that's what we've done there with that LAL guidance. With respect to the inventory, no change to our assumptions there either. And you see it primarily in that gross margin guidance that we gave. We continue to believe that we'll finish the year in that 70% to 72% range. Q1, as expected and as communicated back in February, was not really impacted by some of those absorption issues, but we do expect them to show up in Q2 and for the remainder of this year. And we're monitoring it closely. We haven't said in terms of when that will lift and how that might look next year. But when we get closer to being in a position to give guidance longer term, we'll update that as well. David Saxon: And then the second question is just on the commercial pivot or reengagement strategy. Would love to understand what percent of accounts or territories you've gone out and actually implemented that. And then once you do that and get buy-in from the account, kind of how should we think about the resulting utilization in the months or quarters to follow? Ronald Kurtz: Yes. So I would say that we're still in early innings of reaching through the installed base, which is, as you know, quite large, about 1,150 LDDs, 2,500 surgeons. So that will continue throughout the year and into '27. In terms of the results that we're seeing and what you would expect, of course, it will be in the numbers that you'll see, it will be more gradual because it has to extend through the installed base. But on an individual basis, we are certainly seeing the impact and feel as though as we continue to make refinements to both the programs and how we implement them, I think that, that will continue to accelerate. Operator: Our next question comes from Larry Biegelsen with Wells Fargo. Larry Biegelsen: Ron, one domestic question, one international question. So how are you thinking about increasing competition from premium IOLs? We know a few more coming this year. You have TECNIS PureSee, obviously, from J&J. There's a BVI product. I think Rayner is coming out. I think how have you incorporated that into the guidance? And I had one follow-up. Ronald Kurtz: Good question, Larry. So I think that fundamentally, there's not a lot new under the sun in terms of these new product introductions. Of course, having multiple players in the marketplace, even if they have undifferentiated product, it still means that there's more voices out there. And so we're watching it, but we feel strongly that the clinical outcomes that are achievable with adjustability are superior and ultimately will win the day, though there can be, as there have been with past introductions, some transient impact from these efforts and the overall impact they have on other competitors as well. Larry Biegelsen: And then regarding international, I'd love to get an update on your international efforts. Where are you starting to see some early kind of traction, if you will? And when you say modest contribution, I think I heard modest contribution earlier on this call in '26. Is that like $5 million, $10 million? Ronald Kurtz: I will let Mark comment on the dollar figure. But in terms of where, we previously said where we've gotten approvals. Obviously, that's the first step before you have commercial introduction and then traction. We've had the most recent approvals and where we've been able to start, have primarily been in Asia with Korea and smaller markets, Singapore, but an important market. We got approval in Europe more recently. Those efforts are starting as well, beginning to gain traction, especially in awareness across the larger countries in Europe. And even more recently in Australia and now New Zealand. And I would say that those countries pretty well mirror where the premium IOL business has had the most success. And we often see new product introductions follow a very similar pattern of introduction in countries like the major countries of Europe, Korea, Australia, et cetera. Obviously, the countries with longer regulatory cycles that are still important, Japan, China and India, those we're working through those processes. Mark Wilterding: And just with respect to quantifying it, Larry, I know this is a question you've asked in the past. The team is working and driving hard there. Great team in place, but it's not yet in terms of dollar amounts at a point where we feel like it's material enough to break out. When that changes, and it will, at some point in the future, we'll be sure to give you an update. Operator: Our next question comes from Stephanie Alasi with Bank of America. Unknown Analyst: A competitor just reported recently and noted softness in the cataract market. So curious if that's something you're seeing in the market overall, but maybe you see less of an impact given your premium offering. So yes, just curious any thoughts there. Ronald Kurtz: Well, I think that the size of that competitor relative to ours gives them a lot of visibility on the overall market. And, but I do think that their comments were more towards the non-premium segment of the market, the traditional cataract surgery of the portion of the market and that they also noted continued growth in the premium segment, both in the U.S. and internationally. And those would be consistent with our long-term view as well based on the both clinical and economic benefits of premium IOL technology generally and more specifically the LAL. So I don't think that we're seeing anything inconsistent. We saw some softness of the overall cataract market a year ago as well. And at that time, I think some people postulated whether those were some more macro affected because the patients in that subgroup do still have to pay co-pays, which can be relatively expensive depending on the demographic. And so it's possible that's impacting that segment first. Unknown Analyst: Got it. And then I wanted to follow up on the OpEx guide now pointing more towards the higher end of the range. Just curious what are the main areas of investment that are increasing? And how do you think about OpEx and time to benefit the top line? Mark Wilterding: I think I'd just reiterate a little bit of what Ron had mentioned earlier with respect to the OpEx guide. We are very focused on providing what I'd say are the highest levels of clinical training and field support, both here in the U.S. and also abroad. And that requires investments, supporting new and existing customers, focused on penetrating these accounts is really key. And so as a result, we are definitely focused on directing more resources towards things like that in addition to customer support, education, sales and marketing and also advancing our R&D pipeline, something that we've invested in for some time and not letting up there either.?So those are the primary avenues of investment, I would say, as you see that OpEx trend towards the higher end of the range. Operator: Our next question comes from Adam Maeder with Piper Sandler. Unknown Analyst: This is Kyle Winborne on for Adam. I guess, first, maybe just to continue on that thread with OpEx. Maybe could this be a good opportunity for you to just remind us where the company sits today from a commercial headcount standpoint? It sounds like the plan is to maybe continue adding headcount, if I'm correct there. So should we kind of just think about OpEx kind of running at this pace for the foreseeable future while these efforts continue? And I had a follow-up. Ronald Kurtz: Yes. We have about 130 to 150 field-facing employees. And that's continued to grow with our installed base as well as with the more recent initiatives that we've talked about. And certainly, we'll be making decisions based on both the success of those initiatives as well as other priorities in the business, as to where we prioritize the additional spending, but that's always an ongoing decision that we have to manage. Unknown Analyst: That's helpful color. And I guess my second question, you talked about innovation a little bit and gave some helpful color there for things on the come. Just wondering if you could double-click on any of those, anything that's particularly meaningful. And you mentioned that we might hear about some of those from later this year. So, it sounds like we should think about this as more having impact as we look into 2027. Ronald Kurtz: Yes, I would say that the things that I mentioned are all things that have been seen as benefits to the technology moving for quite some time in their areas that we've been working on. Those efforts take time. We're a Class III device. So we have to go through the PMA supplement process, which we are. But as we have visibility to commercialization, we will certainly share that and give visibility both to the investor community as well as to our customers. Operator: Our next question comes from Xuyang Li with Jefferies. Young Li: I guess first one, just on the customer reengagement programs. I wanted to, I was wondering if you can share a bit more about what you're doing there with the practices. You called out a few examples, but what's resonating more with the surgeons and their staff? And what are the key issues that practices need your help in solving? Ronald Kurtz: Well, I think it is variable, of course, depending on the practice. And that's where our team is really key in assessing and discussing with the practice, what are the most likely measures that are going to make them more successful, which is going to help them both clinically and financially. So it has to be viewed as a mutual benefit, and that's how I think it is being viewed and appreciated by our customer base that we're continuing to invest in their success. The specific measures that I mentioned, some are, we have this unique ability to be able to track clinical results on essentially every patient. But that information is sometimes siloed in the practice. And so making clear to the entire practice, both optometrists who might be doing the LDD treatment, ophthalmologists who may not be seeing that postoperative patient as frequently as well as the staff who may not be into the details, the clinical staff and the surgery counselors just making that information more widely available, which we can uniquely do, is very motivating to see how impactful adjustability is to the lives of their patients. They see that anecdotally, but to see that in a quantitative way, which, again, no other IOL really can do other than doing a clinical study, which is typically not practical. The other things that we're doing really depend on the practice. So it can be workflow pearls that are, that have been gleaned from peer practices that may be similar size, similar makeup, similar socioeconomic base and how do they have patient, the postoperative visits flow, the division of labor, how patients are, expectations are set and handled throughout the process. These are all clinical skills and practice skills that didn't exist 5 years ago. And we and our customers have figured a lot of this stuff out. And now we have to go back and disseminate that information in various ways, whether that's through our direct interactions with the practices or whether it's through peer-to-peer interactions or digital media. Those are all ways that we're engaging with our customers. Young Li: All right. Great. That's very helpful. And then I guess another question, just wanted to hear a little bit on the accounts that bought LDDs in the past year or past 3 quarters, the ones with 20 to 25 LDDs versus prior periods that bought like 70-plus per quarter. I'm just kind of curious, given there's sort of less of them, presumably more focused or more motivated buyers, do you see any differences in their utilization or adoption curve from prior periods or cohorts? Ronald Kurtz: So it's a good question. I think it's a little early to, we're dealing, as you said, with the smaller end. And so we'll continue to track that. But of course, we are incorporating all the things that we're doing with the reengage practices in our onboarding as well. And so hopefully, we'll see that, those benefits in that group as well as we progress with their onboarding. Operator: Our next question comes from Tom Stephan with Stifel. Thomas Stephan: Apologies if any of this has been asked, just jumping between calls. I'll start off on kind of competitive landscape, but more specific to adjustable. Ron, what's the latest you're hearing around adjustable competition? Any incremental updates we should be aware of? And curious if you can touch on, Perfect Lens, which I think is expanding in Europe. And then I'll have a follow-up. Ronald Kurtz: I don't have any specific updates. Obviously, we follow the field. I would say that to my knowledge, there's nothing getting close to a regulatory process, certainly not in the U.S. We know how high the bar is, and we've continued to raise that bar. And then in addition to that, of course, we've got a large installed base and have got a lot of knowledge that has been developed in the community based on our technology. So, I don't want to be dismissive of competition. I just also want, I think people should be realistic about what the time scale of any potential competition could be. Thomas Stephan: Got it. That's great. And then maybe to pivot a bit to, I'll call it, sort of the long term. But as you look at or think about utilization curves, adoption interest, how reengagement is going here in the U.S. Ron, talk about your level of confidence today that LAL is a niche in the U.S. and more importantly, can perhaps durably grow above market over time and continue to gain share long term? Ronald Kurtz: Yes. Well, I guess we referred earlier, I don't know if you're on the call, Tom, but somebody referred to one of the large competitor, who also reported today. And of course, we listened to that call as well. And I think that it was instructive in that they pointed out again, and they've done that before, that the premium market is incredibly important to ophthalmology. Just the time spent on the premium market was impressive, even though it's a relatively small portion of the business for them. And they projected that their view is that, that premium market is going to go from the current 15% to 20%, depending on geography to maybe the 30% to 40%. And I think that's probably accurate that they have a good view on that. But then where is that growth going to come from? We've had the multifocal technology and standard toric technology for 20 years. It's got to come, there's, it's got to come from somewhere. And I think that the LAL is unique in that it's broadly applicable to patients because it does preserve quality of vision. It's very flexible and it appeals intuitively to this next generation of patients who not only are, want to maintain their function throughout many conditions, but they also want to have control and an input in the process. And those are all things that I think play well to the LAL and will help the field drive growth into that higher number. Operator: There are no further questions at this time. I will now turn the call back over to Ron Kurtz for closing remarks. Ronald Kurtz: Well, thank you all for your interest in RxSight. We certainly look forward to updating you on our progress in future quarters. Goodbye and good evening. Operator: This concludes today's call. Thank you for attending. You may now disconnect. 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Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes the current business stabilization to targeted customer reengagement programs launched in late 2025, which focus on clinical outcome reviews and workflow support. LAL (Light Adjustable Lens) unit volumes remained consistent with prior-year levels, while utilization has stabilized for three consecutive quarters following a period of volatility. The 18% decline in total sales was primarily driven by a planned step-down in LDD (Light Delivery Device) capital equipment volumes as the company shifts toward a more measured placement strategy. Gross margin expansion to 76.1% was driven by a favorable revenue mix, with high-margin LAL procedures accounting for 88% of total company sales. Management views the premium IOL market as resilient, noting that while the broader cataract market shows some softness, demand for high-end, customizable vision solutions remains strong. The company is positioning the LAL as a superior alternative to 'Me-Too' fixed IOLs, emphasizing that post-operative adjustability is the key driver for surgeon confidence and practice economics. Full-year 2026 revenue guidance of $120 million to $135 million assumes improving growth rates in the second half of the year due to easing year-over-year comparisons. Gross margins are expected to step down to the 70% to 72% range for the remainder of 2026 as higher-cost inventory manufactured in 2025 flows through the balance sheet. Operating expenses are projected at the high end of the $150 million to $160 million range, reflecting accelerated investments in global commercial headcount and R&D. International markets are expected to provide modest revenue contributions in 2026 via capital placements, with more meaningful growth anticipated in 2027 and beyond. Future technical innovations aim to reduce 'adoption friction' by streamlining clinical workups, reducing the number of required LDD treatments, and extending the correction range. The company received regulatory approval in New Zealand, marking a continued measured expansion into the Asia-Pacific and European markets. Manufacturing absorption is expected to remain a headwind through 2026 until production levels normalize against current inventory stocks. Management acknowledged potential 'transient impacts' from new competitive product launches by J&J, BVI, and Rayner, though they maintain a long-term clinical advantage. A significant portion of the net loss ($7.9 million of $15.9 million) was attributed to non-cash stock-based compensation. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management reported positive feedback from the field regarding reengagement programs, specifically citing clinical 'pearls' that improve surgeon success. While declining to comment specifically on Q2 performance, they expressed confidence that refining these programs will drive further utilization gains across the 1,150-unit installed base. Management clarified they are not 'gating' LDD sales but are taking a more 'measured approach' to ensure customers are fully ready to adopt and succeed with the technology. The slower pace of placements compared to the initial launch years reflects a transition from early-adopter novelty to a more gradual, sustainable growth phase. The Q1 margin of 76.1% was a temporary peak; the anticipated drop to 70%-72% for the full year is strictly due to the timing of inventory absorption from 2025 production. Management did not provide a specific timeline for when these absorption issues would fully clear but noted they are monitoring it closely for 2027 planning. Management stated they see no competitors nearing the regulatory process in the U.S., noting the 'high bar' set by their own Class III PMA supplement process. They emphasized that their large installed base and years of clinical data create a significant moat against potential new entrants like Perfect Lens.

RxSight said clinical momentum is building—highlighting 300,000 LAL implants to date—and reported that utilization of the Light Adjustable Lens has now stabilized for three consecutive quarters after targeted re‑engagement programs with physicians and staff. First‑quarter sales were $30.9 million (down 18% YoY) as a drop in Light Delivery Device (LDD) placements (20 units, ≈$2M) offset stable consumable volumes (27,472 LALs, ≈$27M); gross margin rose to 76.1% and the company posted a net loss of $15.9 million (adjusted loss $7.9M). Management reiterated full‑year 2026 revenue guidance of $120M–$135M and gross margin guidance of 70%–72%, but warned margins will step down starting in Q2 due to higher‑cost 2025 inventory, while operating expenses are expected at the high end of the previously guided $150M–$160M range as commercial investments continue. Interested in RxSight, Inc.? Here are five stocks we like better. RxSight (NASDAQ:RXST) executives said the company is seeing early signs that customer re-engagement efforts are helping stabilize utilization of its Light Adjustable Lens (LAL) platform, even as first-quarter revenue declined year over year due to lower sales of its Light Delivery Device (LDD) capital equipment. President and CEO Dr. Ron Kurtz opened the call by highlighting visibility for the LAL at the American Society of Cataract and Refractive Surgery (ASCRS) meeting in Washington, D.C., where he said more than 30 papers and posters were presented on the technology. Kurtz also said RxSight marked “300,000 LAL implants since commercialization in the U.S.” at the meeting. → Berkshire Hathaway’s Record Cash Hoard: Why and What's Next? Kurtz said the company launched an “I Trust It With My Own Eyes” campaign featuring ophthalmologists who chose the LAL for their own eyes. He added that internal survey data shows “nearly 80% of ophthalmologists and optometrists say they would choose the LAL for themselves or a loved one,” which he said reinforces physician confidence in customized outcomes. Operationally, Kurtz said re-engagement programs introduced in the second half of 2025 have become a key focus in 2026. He said “LAL volumes were consistent with prior year levels, and utilization has now stabilized for the third consecutive quarter,” adding that RxSight is beginning to see “clear early signs” of progress in practices where the company has re-engaged with physicians and staff. → A Prada Payday: Is AMC Back in Style? He described the re-engagement initiatives as including clinical outcome reviews, targeted intraocular lens (IOL) counseling training, refresher education, and in-person workflow support. In response to Jefferies analyst Young Li, Kurtz said the company can track clinical results on “essentially every patient,” and is working to make those insights more visible across practices—from optometrists and ophthalmologists to counselors and support staff—to help demonstrate the value of adjustability in a more quantitative way. Chief Financial Officer Mark Wilterding reported first-quarter sales of $30.9 million, down 18% year over year, which he attributed to “a year-over-year step down in LDD unit volumes consistent with expectations.” RxSight sold 20 LDDs in the quarter, which Wilterding said accounted for approximately $2 million of sales. The company ended the quarter with an installed base of 1,154 LDD units. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% For consumables, Wilterding said first-quarter LAL unit volumes were 27,472, “in line with the year-ago period and down 4% sequentially,” which he said was consistent with typical first-quarter seasonality. LAL procedure volumes generated about $27 million of revenue, representing 88% of total quarterly sales. Gross margin was 76.1%, up from 74.8% a year earlier. Wilterding said the higher LAL revenue mix contributed to the improvement. On expenses, Wilterding said SG&A was $31.9 million, up 11% year over year, driven by personnel-related costs as RxSight “continue[s] to prioritize investments in new hires and ongoing expansion of our global commercial and support teams.” R&D expense was $9.5 million, down 9% year over year. RxSight posted a net loss of $15.9 million, or $0.38 per basic and diluted share, based on 41.3 million weighted average shares outstanding. Stock-based compensation was $7.9 million, resulting in an adjusted net loss of $7.9 million, or $0.19 per share, Wilterding said. Wilterding reiterated full-year 2026 revenue guidance of $120 million to $135 million. He said the company expects quarterly sales growth rates to improve throughout the year due to “improving fundamentals and easing year-over-year comparisons.” He also reiterated 2026 gross margin guidance of 70% to 72%. Wilterding said the expected step down from first-quarter margin reflects “the flow-through of higher cost inventory manufactured in 2025,” and that the margin impact is expected to show up beginning in the second quarter and persist through the remainder of 2026. He added that manufacturing absorption is expected to improve over time as production levels normalize, but did not provide timing for when the inventory-related pressure would lift beyond the current-year guidance framework. For operating expenses, Wilterding said RxSight expects 2026 operating expenses to be at the high end of its previously communicated $150 million to $160 million range, reflecting “accelerated investments in our global commercial organization.” He said spending is expected to be more pronounced in the first half of the year, consistent with the company’s 2025 pattern. The company continues to expect non-cash stock-based compensation of $30 million to $32 million, primarily included in operating expenses. On competition in premium IOLs, Kurtz told Wells Fargo analyst Larry Biegelsen that there is “not a lot new under the sun” in terms of fixed-lens product introductions, though he acknowledged that more competitors can increase marketplace noise and may cause “some transient impact.” Kurtz said RxSight believes adjustability delivers superior outcomes and will “ultimately…win the day.” When asked about adjustable competition, Kurtz told Stifel analyst Tom Stephan he had no specific updates and said that, to his knowledge, there is nothing “getting close to a regulatory process, certainly not in the U.S.” He emphasized the complexity of meeting the regulatory bar and pointed to RxSight’s installed base and the knowledge developed among surgeons using its technology. On broader cataract market conditions, Kurtz responded to Bank of America analyst Stephanie Elghazi by suggesting that reported softness from a competitor appeared concentrated in the non-premium segment. Kurtz said that competitor also noted continued growth in the premium segment, which he said was consistent with RxSight’s long-term view. Internationally, Kurtz said RxSight is pursuing “a measured and thoughtful approach” designed to build a durable foundation, including clinical, commercial, and operational infrastructure and relationships with leading surgeons. He noted the company received approval in New Zealand in the prior month. In response to questions about international traction, Kurtz cited early efforts in Asia, including Korea and Singapore, and said the company received approval in Europe more recently, with initial efforts focused on building awareness across larger European countries. He also referenced Australia and New Zealand as markets that mirror where premium IOL adoption has historically been strong, while noting that Japan, China, and India have longer regulatory cycles that the company is still working through. Wilterding declined to quantify expected international revenue for 2026, reiterating that the contribution is expected to be modest and “primarily driven by early capital placements,” but not yet material enough to break out separately. Looking ahead, Kurtz said RxSight plans technical innovations intended to “reduce adoption friction” by streamlining clinical workup for post-operative adjustments, reducing the number of required LDD treatments, and extending the range of correction. He said the company is working through the PMA supplement process and would provide more visibility as commercialization timelines become clearer. On the company’s field organization, Kurtz said RxSight has “about 150 fields, 130-150 field-facing employees,” and that staffing has grown with the installed base and recent initiatives, with future investment decisions tied to priorities and the success of current programs. RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction. Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions. The article "RxSight Q1 Earnings Call Highlights" was originally published by MarketBeat.