RxSight, Inc. Announces Preliminary Unaudited Fourth Quarter and Full-Year 2023 Financial and Operational Results and 2024 Guidance

ALISO VIEJO, Calif., Jan. 07, 2024 (GLOBE NEWSWIRE) -- RxSight, Inc., an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery, today announced certain preliminary unaudited financial and operational results for the fourth quarter and full-year 2023 and provided full-year 2024 guidance.

Preliminary Unaudited Fourth Quarter and Full-year 2023 Results

• Preliminary unaudited fourth quarter 2023 revenue is expected to be approximately $28.6 million, representing growth of approximately 78% compared to the prior year period, driven by:
  • The sale of 77 Light Delivery Devices (LDDs), expanding the installed base to 666 LDDs as of December 31, 2023; and
  • The sale of 18,071 Light Adjustable Lenses (LALs).
• Preliminary unaudited ²⁰²³ fiscal year revenue is expected to be approximately $89.1 million, representing growth of approximately 82% compared to the prior year, driven by:
  • The sale of 266 LDDs; and
  • The sale of 54,873 LALs.
• Preliminary unaudited cash, cash equivalents and short-term investments as of December 31, 2023, is expected to be $127.2 million.
  

2024 Guidance

RxSight anticipates full-year 2024 revenue of $128.0 million to $135.0 million, reflecting growth of approximately 44% to 52% over 2023. The company currently estimates the full-year 2024 gross profit margin to be in the 65% - 67% range. In addition, the company expects 2024 operating expenses in the range of $125.0 million to $128.0 million. The company is also anticipating full-year 2024 non-cash expenses in the range of $22.0 million to $25.0 million.

“We continued to achieve solid growth in both LAL procedures and LDD placements in the fourth quarter, underscoring the fact that an increasing number of cataract surgeons and patients are choosing our system for its unique ability to provide high-quality, customizable vision enabled by adjustability,” said Dr. Ron Kurtz, Chief Executive Officer and President of RxSight. “As we enter 2024, we expect to maintain this momentum by focusing on our long-term strategies to deliver the full potential of our technology and opportunity.”