RxSight, Inc. Q1 FY2026 earnings call

Ron mentioned commercial progress: ASCRS meeting had over 30 papers/posters on LAL, marked 300,000 LAL implants, launched I Trust It With My Own Eyes campaign. Customer re-engagement programs refined, LAL volumes stable, international expansion with NZ approval. Mark discussed Q1 numbers, 2026 guidance reiterating revenue $120 - $135M, gross margin 70 - 72%, operating expenses at high end of $150 - $160M range

Q1 sales were $30.9 million, down 18%. LDD unit volumes were 20, accounting for ~$2 million. LAL unit volumes were 27,472, in line with prior year, down 4% sequentially. LAL sales were ~$27 million, 88% of total. Gross margin 76.1% vs 74.8% prior year. SG&A expenses $31.9 million, up 11%. R&D expenses $9.5 million, down 9%. Net loss $15.9 million, or $0.38 per share. Adjusted net loss $7.9 million, or $0.19 per share

Reiterating full-year 2026 revenue guidance $120 to $135 million. Anticipate quarterly sales growth rates improving. International business modest contributor in 2026. 2026 gross margin guidance 70 to 72% unchanged. Operating expenses at high end of $150 to $160 million range, non-cash stock-based compensation $30 to $32 million

Q: Speak to field feedback, reception of turnaround and second quarter improvement.

A: Positive feedback from customers and team with reengagement programs, implies modest sequential improvement.

Q: How much stabilization in LAL adoption is reflection of cataract market holding steady vs turnaround efforts.

A: Hard to parse, but actions taken are positive and having impact.

Q: Guidance on LAL volume growth, inventory.

A: LAL growth in low single-digit range, inventory impact on gross margin monitored.

Q: Percent of accounts/territories in re-engagement strategy, utilization.

A: Early innings, results gradual but impact seen.

Q: Competition from premium IOLs, international efforts.

A: Clinical outcomes with adjustability superior, international efforts in Asia, Europe, Australia, NZ.

Q: Cataracts market softness, OpEx investment.

A: Softness in non-premium segment, OpEx investment in clinical training, field support, R&D.

Q: Commercial headcount, innovation timeline.

A: ~150 field-facing employees, innovation efforts take time with PMA supplement process.

Q: Customer re-engagement programs details, accounts with LVDs.

A: Variable by practice, mutual benefit, early to track accounts with LVDs.

Q: Adjustable competition, long term confidence in LAL.

A: No close regulatory competition in US, LAL unique with broad applicability and patient appeal for growth