RxSight, Inc.
RXST · Ophthalmic Goods · 41.4M shares · -72%/yr ↓ buyback · EDGAR filings ↗
Reference price $25.71 · est. market cap ~$1.1B — last insider sale, 2025-03-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58RxSight — light-adjustable-lens medtech with stalled growth, well-funded.
Strengths
- Gross margin 77% (75th pct); very strong liquidity (current 11), long runway
- Differentiated adjustable-IOL technology
Risks
- Revenue declined; operating losses
- Adoption-pace and competitive risk
Notable findings
- No interest coverageInterest coverage -2536.37 (cannot cover interest)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -29.0%)
- Cash burnNegative free cash flow (-19.3M)
- Strong balance sheetStrong balance sheet — $228M cash & investments, ~47 quarters of runway
- Buying back stockNet buyback — share count -72%/yr over 4y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
76.6%
Operating margin
-35.8%
Net margin
-29.0%
Return on equity
-14.1%
Return on assets
-12.5%
Revenue growth (QoQ)
-5.3%
Interest coverage
-2536.4×
Current ratio
10.9×
Free cash flow
-$19M
EBITDA
-$45M
Tangible book value
$276M
Cash & investments
$228M
Cash runway
47q
Stock comp / revenue
23.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-17 | PALMISANO ROBERT J | Grant | 37K | — |
| 2026-06-17 | Warner Robert Keith | Grant | 37K | — |
| 2026-06-17 | Maniar Shweta | Grant | 37K | — |
| 2026-06-17 | Fountain Tamara | Grant | 37K | — |
| 2026-06-17 | LINK WILLIAM J PHD | Grant | 37K | — |
| 2026-06-17 | Corley Jesse Anderson | Grant | 37K | — |
| 2026-06-17 | COHEN RAYMOND W | Grant | 31K | — |
| 2026-06-17 | Tammenoms Bakker Juliet | Grant | 37K | — |
| 2026-06-17 | Andrews Julie | Grant | 37K | — |
| 2026-04-17 | Goldshleger Ilya | Option exercise | 12K | $4.13 |
| 2026-02-28 | Wilterding Mark | Option exercise | 20K | — |
| 2026-02-28 | Wilterding Mark | Tax withheld | 8.1K | $7.61 |
| 2026-02-28 | Gaines Scott | Option exercise | 6.3K | — |
| 2026-02-28 | Gaines Scott | Tax withheld | 2.6K | $7.61 |
| 2025-09-25 | Goldshleger Ilya | Option exercise | 8.3K | $4.13 |
| 2025-09-25 | Goldshleger Ilya | Option exercise | 15K | $4.34 |
| 2025-07-31 | COHEN RAYMOND W | Grant | 36K | — |
| 2025-06-03 | LINK WILLIAM J PHD | Grant | 11K | — |
| 2025-06-03 | Fountain Tamara | Grant | 11K | — |
| 2025-06-03 | Warner Robert Keith | Grant | 11K | — |
| 2025-06-03 | Maniar Shweta | Grant | 11K | — |
| 2025-06-03 | PALMISANO ROBERT J | Grant | 11K | — |
| 2025-06-03 | Andrews Julie | Grant | 11K | — |
| 2025-06-03 | Corley Jesse Anderson | Grant | 11K | — |
| 2025-06-03 | Tammenoms Bakker Juliet | Grant | 11K | — |
| 2025-06-02 | Weinberg Eric | Option exercise | 188K | $3.93 |
| 2025-04-14 | Thunen Shelley B | Option exercise | 7.8K | $4.34 |
| 2025-03-12 | Fountain Tamara | Sell | 7.0K | $25.71 |
| 2025-01-22 | Maniar Shweta | Sell | 3.5K | $30.87 |
| 2025-01-16 | Corley Jesse Anderson | Buy | 1.8K | $31.13 |
| 2025-01-15 | Corley Jesse Anderson | Buy | 1.4K | $31.18 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07347379 ↗ | Long-Term Clinical Outcomes Of Subjects Enrolled In The RxSight Light Adjustable Lens (LAL) And Light Delivery Device (LDD) New Enrollment Study Aphakia Cataract | — | Enrolling By Invitation | 2026-06-01 |
| NCT05202808 ↗ | RxSight Light Adjustable Lens and Light Delivery Device New Enrollment Study Aphakia, Cataract | NA | Completed | 2024-09-11 |
| NCT04529616 ↗ | Single Center Exploratory Study To Evaluate The Use Of The RxSight Light Adjustable Lens (LAL) And The Light Delivery Device (LDD) To Improve Visual Outcomes Aphakia, Cataract | — | Completed | 2022-10-01 |
| NCT04177771 ↗ | A Clinical Study to Evaluate The Safety and Effectiveness of The RxSight Light Adjustable Lens (LAL) In Subjects Desiring an Extended Depth of Focus Aphakia, Cataract | — | Terminated | 2021-12-20 |
| NCT03660865 ↗ | Clinical Study to Evaluate the Safety and Effectiveness of the RxSight Light Adjustable Lens (LAL) in Subjects With Prior Corneal Refractive Surgery Aphakia, Cataract | NA | Completed | 2020-04-01 |
| NCT03895034 ↗ | Exploratory Study to Evaluate the Use of the RxSight Light Adjustable Lens (LAL) and the Light Delivery Device (LDD) to Improve Visual Outcomes Aphakia, Cataract | — | Completed | 2020-03-01 |
| NCT04005586 ↗ | A Clinical Study to Evaluate The Safety and Effectiveness of Performing 0.50 Diopter Astigmatism Correction on the Commercially Available RxSight Light Adjustable Lens (LAL) Aphakia, Cataract | NA | Completed | 2020-03-01 |
| NCT03771352 ↗ | Clinical Study to Evaluate the RxSight Light Adjustable Lens With the Light Delivery Device in Subjects With Preoperative Corneal Astigmatism Cataract | NA | Completed | 2019-07-01 |
| NCT03729024 ↗ | Exploratory Study to Evaluate Uncorrected Distance Vision and Quality of Vision After Light Treatments of an Implanted RxSight Light Adjustable Lens (RXLAL) With The Light Delivery Device (LDD) in Subjects With Preoperative Corneal Astigmatism Aphakia, Cataract | NA | Completed | 2019-04-15 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-16 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-03-19 | Exec/director change | filing ↗ |
| 2026-02-25 | ResultsExhibits | filing ↗ |
| 2026-01-12 | ResultsExec/director changeReg FDExhibits | filing ↗ |
| 2025-12-23 | Exec/director changeReg FD | filing ↗ |
| 2025-12-22 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-12-19 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-16 | 2026-06-16 | 0001193125-26-272688 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-208912 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001193125-26-208921 ↗ |
| 8-K/A | 2026-03-19 | 2026-01-11 | 0001193125-26-115965 ↗ |
| 10-K | 2026-02-25 | 2025-12-31 | 0001193125-26-071775 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001193125-26-071516 ↗ |
| 8-K | 2026-01-12 | 2026-01-11 | 0001193125-26-010478 ↗ |
| 8-K | 2025-12-23 | 2025-12-23 | 0001193125-25-331151 ↗ |
| 8-K | 2025-12-22 | 2025-12-16 | 0001193125-25-328951 ↗ |
| 8-K | 2025-12-19 | 2025-12-18 | 0001193125-25-326889 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-266938 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001193125-25-266986 ↗ |