RxSight Reports 28.4% Revenue Growth to $37.9 Million in Q1 2025

RxSight, Inc. reported a significant increase in financial performance for the first quarter of 2025, with total sales reaching $37.9 million, a 28.4% increase from $29.5 million in the same period last year. The growth was primarily driven by the sale of 27,579 Light Adjustable Lenses (LALs) and 73 Light Delivery Devices (LDDs), reflecting strong adoption of the company's innovative cataract surgery technology. Gross profit also saw a notable rise, increasing by 37% to $28.3 million, resulting in a gross margin of 74.8%, up from 70.1% in the prior year.

Despite the increase in revenue, RxSight reported a net loss of $8.2 million for the quarter, a slight improvement from the $9.1 million loss recorded in Q1 2024. Operating expenses rose to $39 million, up 24.4% from $31.4 million, largely due to increased selling, general, and administrative expenses, which grew by 22.8% to $28.6 million. This increase was attributed to higher salaries from a growing workforce, additional post-market study costs, and increased stock-based compensation.

Operationally, RxSight has expanded its installed base of LDDs to 1,044 as of March 31, 2025, compared to 732 a year earlier. The company has implanted approximately 223,000 LALs since its inception, indicating a growing market presence. The increase in customer engagement and product adoption is expected to continue as RxSight invests in expanding its sales and marketing efforts, particularly targeting the approximately 3,500 U.S. cataract surgeons who perform the majority of premium IOL procedures.

Looking ahead, RxSight anticipates continued revenue growth as it expands its sales organization and territories, and increases awareness of its products. The company believes that its current cash, cash equivalents, and short-term investments of $229.3 million will be sufficient to fund operations for at least the next 12 months. However, it may seek additional capital to support further expansion and product development, particularly in international markets. The company remains focused on enhancing its product offerings and improving clinical outcomes to solidify its position in the premium intraocular lens market.