Ilya Goldshleger, Co-President and Chief Operating Officer of RxSight, Inc. (NASDAQ:RXST), a $1.75 billion medical technology company whose stock has gained nearly 48% over the past year, recently executed a series of stock transactions, according to a regulatory filing. InvestingPro data shows the company has achieved impressive revenue growth of 68% in the last twelve months. On November 29, Goldshleger sold 3,105 shares of common stock at a price of $46.08 per share, amounting to a total transaction value of approximately $143,078. This sale was conducted under a pre-established Rule 10b5-1 trading plan.
In a related transaction on the same day, Goldshleger acquired 3,105 shares through the exercise of stock options at a price of $15.08 per share, totaling $46,823. Following these transactions, Goldshleger holds 42,246 shares of RxSight common stock directly, with an additional 1,372 shares held indirectly by his spouse.
In other recent news, medical technology firm RxSight has reported substantial growth in its Q3 2024 earnings call. The company's revenue surged to $35.3 million, a 59% year-over-year increase, primarily driven by a boost in Light Adjustable Lens (LAL) sales and Light Delivery Device (LDD) installations. RxSight's gross margin also improved, reaching 71.4%, a significant rise from the previous year.
The company's GAAP net loss narrowed to $6.3 million, and its full-year 2024 revenue is projected to be around $140 million, with a gross margin of 70% to 71%. In addition to these promising financial figures, RxSight has successfully rolled out its LAL+ product in the U.S. and received approval in Canada.
Looking ahead, RxSight anticipates Q4 2024 revenue to be approximately $40 million and plans to deepen its market penetration in North America while expanding into global markets in 2025. Despite these positive developments, the company has reported a GAAP net loss of $6.3 million for Q3 and acknowledged that seasonal variations and recent hurricanes may impact growth. However, RxSight remains optimistic about its future, with ongoing R&D and new product introductions expected to fuel its growth trajectory.
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