RxSight Q3 revenue falls on competitive pressures
RXST•RxSight's third-quarter revenue fell 19% year over year amid competitive pressures. Its adjusted loss was $0.21 per share, narrower than the $0.29 analyst estimate.
1. Quarterly results
RxSight said third-quarter revenue fell 19% year over year, primarily due to ongoing competitive pressures. The company reported an adjusted loss of $0.21 per share, compared with analyst expectations for a $0.29 loss, and a loss of $0.39 per share.
2. Costs and outlook
Gross margin declined due to increased inventory reserves and higher inventory costs for LAL and LDD. Revenue from the Alcon collaboration was minimal as the program remains in its early stages. RxSight did not provide specific financial guidance for upcoming quarters or the full year and said it completed an organizational restructuring and expanded commercial leadership.
