RxSight, Inc. Files Q2 2024 10-Q

TL;DR

RxSight Q2 10-Q filed. Financials and stock info updated.

AI Summary

RxSight, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results, including details on its cost of sales and common stock. The filing also references its 2021 Employee Stock Purchase Plan.

Why It Matters

This filing provides investors with an update on Rx Sight's financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• Q2 2024 — Reporting Period (The period covered by this 10-Q filing.)
• 12-31 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• RxSight, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 0000950170-24-090770 (other) — Accession number for the filing
• 100 COLUMBIA STREET SUITE 120 ALISO VIEJO CA 92656 (address) — Company's business and mailing address
• CALHOUN VISION INC (company) — Former company name
• 20000410 (date) — Date of former company name change
• rxst-20240630.htm (other) — HTML document name for the filing
• 2021-07-28 (date) — Date of RxSight's 2021 Employee Stock Purchase Plan

FAQ

Key Financial Figures

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

Filing Documents

• rxst-20240630.htm (10-Q) — 2579KB
• rxst-ex10_1.htm (EX-10.1) — 540KB
• rxst-ex10_2.htm (EX-10.2) — 48KB
• rxst-ex10_3.htm (EX-10.3) — 24KB
• rxst-ex10_4.htm (EX-10.4) — 285KB
• rxst-ex10_5.htm (EX-10.5) — 25KB
• rxst-ex10_6.htm (EX-10.6) — 20KB
• rxst-ex31_1.htm (EX-31.1) — 27KB
• rxst-ex31_2.htm (EX-31.2) — 27KB
• rxst-ex32_1.htm (EX-32.1) — 12KB
• rxst-ex32_2.htm (EX-32.2) — 12KB
• img74569629_0.jpg (GRAPHIC) — 3KB
• img74569629_1.jpg (GRAPHIC) — 2KB
• img74569629_2.jpg (GRAPHIC) — 2KB
• img74569629_3.jpg (GRAPHIC) — 3KB
• img74569629_4.jpg (GRAPHIC) — 3KB
• img74569629_5.jpg (GRAPHIC) — 3KB
• img74569629_6.jpg (GRAPHIC) — 3KB
• img74569629_7.jpg (GRAPHIC) — 111KB
• img75493150_0.jpg (GRAPHIC) — 6KB
• img75493150_1.jpg (GRAPHIC) — 755KB
• img75493150_2.jpg (GRAPHIC) — 952KB
• img76416671_0.jpg (GRAPHIC) — 6KB
• img77340192_0.jpg (GRAPHIC) — 41KB
• 0000950170-24-090770.txt ( ) — 13097KB
• rxst-20240630.xsd (EX-101.SCH) — 1521KB
• rxst-20240630_htm.xml (XML) — 1426KB

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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 94 Item 3. Defaults Upon Senior Securities 94 Item 4. Mine Safety Disclosures 94 Item 5. Other Information 95 Item 6. Exhibits 96

Signatures

Signatures 98 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; the expected acceptance and use of our products by doctors; our ability to expand our business into new geographic markets; the expected growth of our business and our organization; our intentions regarding investment in our business as we pursue growth; our plans and expected timelines related to our products, or developing new products, to address additional indications or otherwise; our ability to obtain, maintain and expand regulatory clearances for our products and any new products we create; 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 intellectual property rights; our plans to conduct furthe

: Financial Statements (Unaudited)

Item 1: Financial Statements (Unaudited) RxSIGHT, INC. CONDENSED CONSOLIDATED BA LANCE SHEETS (In thousands, except share and per share amounts) June 30, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 24,445 $ 9,692 Short-term investments 208,839 117,490 Accounts receivable 25,723 20,281 Inventories, net 19,443 17,421 Prepaid and other current assets 2,773 3,523 Total current assets 281,223 168,407 Property and equipment, net 12,444 10,841 Operating leases right-of-use assets 10,818 2,444 Restricted cash 711 711 Other assets 303 147 Total assets $ 305,499 $ 182,550 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,095 $ 3,863 Accrued expenses and other current liabilities 13,787 15,239 Lease liabilities 736 1,801 Total current liabilities 19,618 20,903 Long-term lease liabilities 10,674 1,211 Other long-term liabilities — 74 Total liabilities 30,292 22,188 Commitments and contingencies (Note 8) Stockholders' equity: Common stock, $ 0.001 par value, 900,000,000 shares authorized, 39,617,334 shares issued and outstanding as of June 30, 2024 and 36,139,513 shares issued and outstanding as of December 31, 2023 40 36 Preferred stock, $ 0.001 par value, 100,000,000 shares authorized, no shares issued and outstanding — — Additional paid-in capital 885,104 754,971 Accumulated other comprehensive loss ( 118 ) ( 5 ) Accumulated deficit ( 609,819 ) ( 594,640 ) Total stockholders' equity 275,207 160,362 Total liabilities and stockholders' equity $ 305,499 $ 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

View Full Filing

View this 10-Q filing on SEC EDGAR