Business
RxSight, Inc. Announces Preliminary Unaudited Fourth Quarter and Full Year 2022 Financial and Operational Results
ALISO VIEJO, Calif., Jan. 08, 2023 (GLOBE NEWSWIRE) -- (NASDAQ: RXST) – RxSight, Inc., an ophthalmic medical device company dedicated to improving the vision
About this update from Rxsight, Inc.
[{"type":"text","content":"ALISO VIEJO, Calif., Jan. 08, 2023 (GLOBE NEWSWIRE) -- (NASDAQ: RXST) – RxSight, Inc., an ophthalmic medical device company dedicated to improving the vision of patients following cataract surgery, today announced certain preliminary unaudited financial and operational results for the fourth quarter and full-year 2022. Preliminary Unaudited Results Preliminary unaudited fourth quarter 2022 revenue is expected to be approximately $16.1 million, representing growth of approximately 91% compared to the prior year period, driven by: The sale of 57 Light Delivery Devices (LDD™s), expanding the installed base to 400 LDDs as of December 31, 2022; andThe sale of 9,123 Light Adjustable Lenses (LAL®s). Preliminary unaudited 2022 fiscal year revenue is expected to be approximately $49.0 million, representing growth of approximately 117% compared to the prior year, driven by: The sale of 195 LDDs; andThe sale of 25,284 LALs. Preliminary unaudited cash, cash equivalents and short-term investments as of December 31, 2022, is expected to be $105.8 million, which includes $6.0 million in net proceeds from sales of shares of the Company’s common stock sold through the Company’s “at-the-market” (“ATM”) offering during the fourth quarter of 2022. “Our fourth quarter financial results demonstrate that cataract patients and doctors are increasingly aware of our unique Light Adjustable Lens and choosing it for the high-quality, customizable vision it provides,” said Dr. Ron Kurtz, Chief Executive Officer and President of RxSight. “The light adjustment infrastructure that we are building in collaboration with a growing number of doctors and practices continues to mature, with expanding clinical, commercial and technical capabilities. We are confident these investments will lead to even better outcomes for patients, durable financial benefits for our customers and our continued growth in 2023 and beyond.” The Company’s fourth quarter and full-year 2022 financial and operational results are preliminary and are subject to the completion of the Company’s 2022 audit. Audited full-year 2022 and unaudited fourth quarter 2022 financial results are anticipated to be announced in early March 2023. About RxSight, Inc. RxSight, Inc. is a commercial-stage medical technology company dedicated to improving the vision of patients following cataract surgery. The RxSig...