RxSight, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Rx Sight, Inc. has filed its Q1 2024 10-Q report, providing a snapshot of its financial and operational status.</b>

AI Summary

RxSight, Inc. (RXST) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Rx Sight, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing details financial information and operational updates for the first quarter of 2024. Key dates and financial metrics from previous periods are referenced. The company's business address is 100 Columbia Street, Suite 120, Aliso Viejo, CA 92656. Rx Sight, Inc. was formerly known as Calhoun Vision Inc.

Why It Matters

For investors and stakeholders tracking RxSight, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and disclosures, crucial for understanding the company's current health and trajectory. The detailed financial statements and risk factors within the report are essential for investors to make informed decisions regarding their investment in Rx Sight, Inc.

Risk Assessment

Risk Level: — RxSight, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains routine financial information and disclosures, but lacks specific forward-looking guidance or significant operational changes that would indicate a higher risk level.

Analyst Insight

Review the detailed financial statements and any new risk factors disclosed in this 10-Q to assess Rx Sight, Inc.'s current financial health and operational risks.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing)
• 2024-05-06 — Filing Date (Date the report was submitted)

Key Players & Entities

• Rx Sight, Inc. (company) — Filer name
• Calhoun Vision Inc (company) — Former company name
• 2024-03-31 (date) — Period of report
• 2024-05-06 (date) — Filing date
• 100 Columbia Street, Suite 120, Aliso Viejo, CA 92656 (address) — Business address

FAQ

Industry Context

Rx Sight, Inc. operates in the ophthalmic goods industry, focusing on medical devices for eye care.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for revenue, expenses, and profitability trends.
2. Review any disclosed risk factors to understand potential challenges facing the company.
3. Compare key financial metrics to previous periods to identify significant changes or patterns.

Key Dates

• 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q.
• 2024-05-06: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q, providing updated quarterly information. Specific comparative data against the previous filing is not detailed in the provided text.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share RXST The Nasdaq Stock Mar

Filing Documents

• rxst-20240331.htm (10-Q) — 2091KB
• rxst-ex31_1.htm (EX-31.1) — 27KB
• rxst-ex31_2.htm (EX-31.2) — 26KB
• rxst-ex32_1.htm (EX-32.1) — 12KB
• rxst-ex32_2.htm (EX-32.2) — 12KB
• 0000950170-24-053566.txt (&nbsp;) — 8436KB
• rxst-20240331.xsd (EX-101.SCH) — 1527KB
• rxst-20240331_htm.xml (XML) — 1192KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations and Comprehensive Loss 6 Condensed Consolidated Statements of Equity 7 Condensed Consolidated Statements of Cash Flows 9 Notes to Unaudited Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 93 Item 3. Defaults Upon Senior Securities 94 Item 4. Mine Safety Disclosures 94 Item 5. Other Information 94 Item 6. Exhibits 95

Signatures

Signatures 96 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS The following discussion and analysis should be read together with our condensed consolidated financial statements and the condensed notes to those statements included elsewhere in this report. This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that are based on our management's beliefs and assumptions and on information currently available to our management. In this report, "we," "us" and "our" refer to RxSight, Inc., a Delaware corporation, and its consolidated subsidiaries.

Forward-looking statements include, but are not limited to, statements concerning the following

Forward-looking statements include, but are not limited to, statements concerning the following: the sufficiency of our existing capital resources to fund our future operating expenses and capital expenditure requirements, including our expectation that we do not anticipate the need to raise additional capital or incur additional debt in order to reach profit from operations, as disclosed in the Company's future Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission ("SEC"), provided that we may opportunistically seek to raise capital under advantageous circumstances from time to time in order to support the expansion of our sales and operations in the U.S. and internationally and to pursue other business opportunities; our plans to conduct further clinical trials and any expectations related to the timing or outcomes of such trials; our plans and expected timelines related to our products, or developing new products, to address additional indications or otherwise; the expected acceptance and use of our products by doctors; our ability to obtain, maintain and expand regulatory clearances for our products and any new products we create; the expected growth of our business and our organization; our intentions regarding investment in our business as we pursue growth; our expected uses of our existing resources; our expectations regarding government and third-party payer coverage and reimbursement; our ability to recruit and retain key personnel, including the continued development of a sales and marketing infrastructure; our ability to obtain an adequate supply of materials and components for our products from our third-party suppliers, including single and sole source suppliers; our ability to manufacture sufficient quantities of our products with appropriate quality; our ability to obtain, maintain and enforce intellectual property protection for our products and protect our intelle

: Financial Statements (Unaudited)

Item 1: Financial Statements (Unaudited) RxSIGHT, INC. CONDENSED CONSOLIDATED BA LANCE SHEETS (In thousands, except share and per share amounts) March 31, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 32,645 $ 9,692 Short-term investments 92,709 117,490 Accounts receivable 21,550 20,281 Inventories, net 18,700 17,421 Prepaid and other current assets 2,955 3,523 Total current assets 168,559 168,407 Property and equipment, net 11,617 10,841 Operating leases right-of-use assets 2,052 2,444 Restricted cash 711 711 Other assets 226 147 Total assets $ 183,165 $ 182,550 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,057 $ 3,863 Accrued expenses and other current liabilities 11,657 15,239 Lease liabilities 1,614 1,801 Total current liabilities 18,328 20,903 Long-term lease liabilities 908 1,211 Other long-term liabilities — 74 Total liabilities 19,236 22,188 Commitments and contingencies (Note 8) Stockholders' equity: Common stock, $ 0.001 par value, 900,000,000 shares authorized, 37,161,753 shares issued and outstanding as of March 31, 2024 and 36,139,513 shares issued and outstanding as of December 31, 2023 37 36 Preferred stock, $ 0.001 par value, 100,000,000 shares authorized, no shares issued and outstanding — — Additional paid-in capital 767,685 754,971 Accumulated other comprehensive loss ( 53 ) ( 5 ) Accumulated deficit ( 603,740 ) ( 594,640 ) Total stockholders' equity 163,929 160,362 Total liabilities and stockholders' equity $ 183,165 $ 182,550 See accompanying notes to unaudited condensed consolidated financial statements. 5 RxSIGHT, INC. CONDENSED CONSOLIDATED STATEMEN TS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) (In thousands, except share and per share amounts) Three Mo

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View this 10-Q filing on SEC EDGAR