RxSight, Inc. Files Q3 2024 10-Q

TL;DR

RxSight 10-Q filed. Latest financials out.

AI Summary

RxSight, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results and operational updates. Key financial data points and disclosures relevant to investors are included in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for RxSight, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and disclosures that could reveal risks or opportunities, requiring careful analysis.

Key Numbers

• 92656 — ZIP Code (Business and mailing address)
• 949-521-7822 — Phone Number (Business phone number)

Key Players & Entities

• RxSight, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241107 (date) — Filing date
• CALHOUN VISION INC (company) — Former company name

FAQ

Key Financial Figures

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

Filing Documents

• rxst-20240930.htm (10-Q) — 2734KB
• rxst-ex10_1.htm (EX-10.1) — 25KB
• rxst-ex31_1.htm (EX-31.1) — 27KB
• rxst-ex31_2.htm (EX-31.2) — 27KB
• rxst-ex32_1.htm (EX-32.1) — 13KB
• rxst-ex32_2.htm (EX-32.2) — 13KB
• img74569629_0.jpg (GRAPHIC) — 110KB
• 0000950170-24-123368.txt ( ) — 9899KB
• rxst-20240930.xsd (EX-101.SCH) — 1530KB
• rxst-20240930_htm.xml (XML) — 1470KB

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 35 Item 4.

Controls and Procedures

Controls and Procedures 35 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 94 Item 3. Defaults Upon Senior Securities 95 Item 4. Mine Safety Disclosures 95 Item 5. Other Information 95 Item 6. Exhibits 96

Signatures

Signatures 97 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) September 30, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 16,720 $ 9,692 Short-term investments 220,400 117,490 Accounts receivable, net 25,368 20,281 Inventories, net 21,673 17,421 Prepaid and other current assets 2,607 3,523 Total current assets 286,768 168,407 Property and equipment, net 12,241 10,841 Operating leases right-of-use assets 10,536 2,444 Restricted cash 711 711 Other assets 213 147 Total assets $ 310,469 $ 182,550 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 4,581 $ 3,863 Accrued expenses and other current liabilities 17,323 15,239 Lease liabilities 734 1,801 Total current liabilities 22,638 20,903 Long-term lease liabilities 10,570 1,211 Other long-term liabilities — 74 Total liabilities 33,208 22,188 Commitments and contingencies (Note 8) Stockholders' equity: Common stock, $ 0.001 par value, 900,000,000 shares authorized, 40,254,105 shares issued and outstanding as of September 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 892,857 754,971 Accumulated other comprehensive income (loss) 521 ( 5 ) Accumulated deficit ( 616,157 ) ( 594,640 ) Total stockholders' equity 277,261 160,362 Total liabilities and stockholders' equity $ 310,469 $ 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

View Full Filing

View this 10-Q filing on SEC EDGAR