Market reaction and guidance update
RxSight Inc. (NASDAQ:RXST) shares slid 12.9% on Tuesday after management reduced its sales expectations for 2026, attributing the revision to competitive pressure in the intraocular lens market. The medical technology firm revised its full-year sales guidance down to $110 million to $120 million from its prior $120 million to $135 million range.
Total revenue and collaboration contributions
The company reiterated total revenue guidance of $140 million to $160 million for 2026, which incorporates $30 million to $40 million of anticipated revenue from a recently announced strategic collaboration with Alcon. The distinction between the narrower sales guidance and the broader total revenue target reflects that collaboration contribution.
Preliminary second-quarter results
RxSight reported preliminary results for the second quarter of 2026, forecasting total revenue of $32 million to $34 million. That figure is expected to include $5 million to $7 million from the Alcon collaboration and approximately $27 million in product sales. During the quarter the company sold 24,917 Light Adjustable Lens (LAL) units and 11 Light Delivery Device units and placed one rental unit.
Commercial environment and company response
Management said the second quarter brought "meaningful commercial headwinds," including more widespread competitive trialing. To address these challenges, RxSight plans to accelerate investments in its sales force and commercial capabilities while continuing to exercise disciplined spending controls.
Margins, expenses and liquidity
Despite the lighter sales outlook, RxSight raised its gross margin guidance to 73% to 75%, up from a prior range of 70% to 72%. Operating expenses are expected at the high end of $150 million to $160 million, a figure management left unchanged from prior guidance. The company reported cash, cash equivalents and short-term investments of approximately $209 million as of June 30, 2026.
Product pipeline
RxSight highlighted ongoing product development focused on next-generation Light Adjustable Lens products designed to streamline workflow and reduce the number of required post-operative treatments. The pipeline includes new LAL, LAL+, and LAL Toric lenses, with intermediate-term launches expected.
This piece presents the company's own preliminary results, guidance changes and management commentary as disclosed by the company.