Rxsight, Inc. ( (RXST) ) has released its Q3 earnings. Here is a breakdown of the information Rxsight, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
RxSight, Inc. is an ophthalmic medical device company specializing in providing customized vision solutions for patients post-cataract surgery, known for its unique Light Adjustable Lens (LAL) technology. In its third-quarter 2024 earnings report, RxSight showcased impressive growth with revenue reaching $35.3 million, a 59% increase from the same quarter in 2023, driven by a significant rise in sales of its Light Adjustable Lenses and Light Delivery Devices. The company achieved a gross profit of $25.2 million, marking an 84% increase from the previous year, despite a net loss of $6.3 million, which improved from $12.4 million in the third quarter of 2023. RxSight also revised its full-year revenue and gross margin guidance upwards, while lowering its operating expense expectations, indicating a strong outlook for the remainder of 2024. With these strategic achievements, RxSight appears poised for continued growth and success in the ophthalmic medical device market.
