RxSight’s Third-Quarter Revenue of $24.6 Million Misses Analyst Estimates
Key Facts
RxSight reported third-quarter 2026 revenue of $24.6 million, below the analyst consensus estimate of $27.19 million, according to data cited by Investing.com. The results were for the period ended in September and were announced by the company on November 3. Despite the revenue miss, adjusted loss per share was $0.21, lower than the $0.29 loss analysts had expected. But operating performance included a decline in sales and wider losses compared with the same period a year earlier. The stock closed the November 3 session at $4.59, down 4.38% for the day, then fell 10.68% in after-hours trading to $4.10.
The company’s revenue fell 19% to $24.6 million, from $30.3 million in the third quarter of 2025, with the company attributing the decline mainly to continued competitive pressure. This coincided with LAL lens procedure volume falling to 23,128 units from 26,045 units a year earlier, an 11% year-over-year decline. Management said continued competitive pressure was the main reason for the decline in procedure volume. The metric points to weaker lens-related activity during the quarter, alongside lower revenue. In the second quarter of 2026, the company reported revenue of $33.7 million, including $6.5 million recognized under its collaboration with Alcon, while product sales totaled $27.2 million, down 19% year over year.
Gross margin fell to 73.6% in the third quarter from 79.9% in the same period of 2025. Management said higher inventory reserves weighed on the margin, while a favorable product mix offset part of the impact. Total costs and expenses were $43.1 million, compared with $42.5 million a year earlier. On earnings, the company reported a net loss of $16.2 million, or $0.39 per share, compared with $9.8 million, or $0.24 per share, in the third quarter of 2025. Adjusted loss also widened to $8.6 million, or $0.21 per share, from $1.7 million, or $0.04 per share, a year earlier; although adjusted loss per share came in better than estimated, it widened compared with the prior year.
RxSight ended the quarter with $254.7 million in cash and cash equivalents and short-term investments, according to Investing.com, including $60 million received upfront under its collaboration with Alcon. The company withdrew its 2026 financial guidance in the second quarter amid a leadership transition, saying at the time that it would return to formal guidance in early 2027. On the earnings call, management said fourth-quarter LAL sales were expected to be closer to the level achieved in the second quarter. It also expected restructuring savings to appear in operating expenses during 2027 and beyond. The company said it plans to resume providing formal guidance when it reports fourth-quarter results in early 2027.
The chief executive said the company’s priorities include reviving LAL sales in the United States, developing next-generation lenses in-house and making its Alcon partnership successful. He said the company had nearly doubled its sales force to strengthen customer engagement and support adoption of the technology. This comes as the company faces declines in revenue and procedure volume, the two metrics whose pressure management linked to competition. In the second quarter, RxSight also cited intensifying trials of competing products and continued pressure on consumer sentiment among the reasons for lower product sales. The next milestone identified by management is the fourth-quarter earnings announcement and resumption of annual guidance in early 2027.