RxSight, Inc. Q2 FY2025 earnings call

• Unified LAL sales and clinical support personnel into a single customer success organization to address LAL utilization trends.
• Coordinated investments in clinical affairs and education to accelerate feedback loops and support postoperative vision optimization.
• Aligned and redeployed field resources to strengthen clinical and practice support for current customers.
• LDD sales team focuses on bringing new high-potential accounts into the platform, with customers transitioning to customer success organization post-onboarding.

In the second quarter of 2025, RxSight generated revenue of $33.6 million. LAL revenue was $27 million, representing 80% of total revenue, with 27,380 LALs sold. LDD revenue was $5.1 million, with 40 LDDs sold, down from prior periods. Gross margin was 74.9%. SG&A expenses were $29 million, R&D expenses were $10.2 million. The company reported a GAAP net loss of $11.8 million or $0.29 per basic and diluted share.

• Reiterated full year 2025 guidance: revenue $120 million to $130 million (implied decrease 14%-7% from 2024).
• Gross margin 72% to 74% (implied increase 130-330 basis points from 2024).
• Operating expense $145 million to $155 million (implied increase 7%-14% from 2024), including noncash stock-based compensation between $27 million and $30 million.

• Actual results may differ materially from forward-looking statements due to certain risks and uncertainties, as detailed in press release and SEC filings. Investors are cautioned not to place undue reliance on forward-looking statements.

Q: Can you provide more color on trends exiting Q2 and into Q3, and if models are properly calibrated?

A: Generally don't get specific on guidance, early in Q3, and noted second half revenue expected to be down from first half.

Q: How is the current pathway to cash flow breakeven and cash flow generation with reduced sales?

A: Previous cash flow breakeven seen in second quarter last year, but recent revenue reduction pushes it out, but high gross margin product could lead to quick cash flow breakeven once revenue levels recover.

Q: Talk about international path forward, time lines, approvals, launches?

A: OUS premium market is large, Europe completed MDR certification, launched in South Korea and Singapore in Q2, Japan and China have longer regulatory cycles, OUS revenue contribution expected to be modest over next year.