RxSight Reports 18.5% Revenue Decline and Increased Net Loss in Q1 2026

RxSight, Inc. reported a significant decline in financial performance for the first quarter of 2026, with total sales of $30.9 million, down 18.5% from $37.9 million in the same period last year. The decrease was primarily attributed to lower sales volumes of the Light Delivery Devices (LDDs), which are essential for the company's Light Adjustable Lens (LAL) system used in cataract surgeries. The company's gross profit also fell to $23.5 million, a decrease of 17.1% compared to the previous year, although the gross margin improved slightly to 76.1% due to a favorable product mix.

Operating expenses increased by 6.0% to $41.3 million, driven mainly by a rise in selling, general, and administrative (SG&A) expenses, which grew by 11.2% to $31.9 million. This increase reflects RxSight's ongoing investment in expanding its sales and marketing teams to drive product adoption. Research and development expenses decreased by 8.6% to $9.5 million, indicating a strategic shift in resource allocation as the company focuses on enhancing its existing product offerings and market presence.

The company reported a net loss of $15.9 million for the quarter, compared to a loss of $8.2 million in the same period last year, marking a 93.9% increase in losses. This increase in net loss is attributed to the combination of declining revenues and rising operational costs. As of March 31, 2026, RxSight had an accumulated deficit of $676.9 million and cash, cash equivalents, and short-term investments totaling $217.9 million, which the company believes will be sufficient to fund operations for at least the next 12 months.

Operationally, RxSight has established an installed base of 1,154 LDDs and has implanted approximately 332,000 LALs since its inception. The company aims to expand its customer base and increase the utilization of its products through enhanced marketing efforts and a unified Customer Success Organization that integrates clinical and sales teams. RxSight plans to continue investing in its sales organization and marketing initiatives to drive awareness and adoption of its innovative cataract surgery solutions.

Looking ahead, RxSight anticipates ongoing net losses as it continues to invest in growth and product development. The company is focused on expanding its market share in the premium intraocular lens segment and enhancing its product offerings to address a broader range of cataract surgery patients. Despite the current challenges, RxSight remains committed to its long-term strategy of achieving profitability through increased sales and operational efficiencies.