RxSight, Inc. Reports Strong 2024 Financial Growth

Rxsight, Inc. ( (RXST) ) has released its Q4 earnings. Here is a breakdown of the information Rxsight, Inc. presented to its investors.

RxSight, Inc. is an ophthalmic medical device company focused on providing customized vision solutions for patients post-cataract surgery, primarily through its Light Adjustable Lens (LAL) system. The company operates within the medical device industry and is known for its unique technology that allows lens adjustments after surgery.

In its latest earnings report, RxSight, Inc. announced a significant increase in both quarterly and annual revenues for 2024, driven by strong sales of its Light Adjustable Lenses and Light Delivery Devices. The company reported a 41% revenue growth in the fourth quarter compared to the same period in 2023, and a 57% increase for the full year.

Key financial highlights include a fourth-quarter revenue of $40.2 million, with a notable 61% increase in procedure volume for LALs and a 46% expansion in the installed base of LDDs. The company also improved its gross profit margin to 71.6% for the quarter, up from 61.8% a year earlier. Despite a net loss of $5.9 million for the quarter, RxSight showed a positive adjusted net income of $1.3 million.

For the full year 2024, RxSight achieved a total revenue of $139.9 million, with LAL sales growing by 79% and LDD sales by 15%. The company managed to reduce its net loss to $27.5 million from $48.6 million in 2023, while also improving its adjusted net loss significantly.

Looking ahead, RxSight reaffirms its 2025 guidance, projecting continued revenue growth and improvements in gross margin. The company remains optimistic about expanding its global adoption and advancing its technology to deliver better outcomes for patients and practices.