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Investing.com -- RxSight (NASDAQ:RXST) stock plummeted 28% after the ophthalmic medical device company significantly lowered its 2025 revenue guidance following disappointing Light Delivery Device sales.
The company now expects full-year 2025 revenue between $120 million and $130 million, dramatically reduced from its previous forecast of $160 million to $175 million. This revised guidance represents a potential YoY decline of 7% to 14% compared to 2024 performance.
RxSight’s preliminary second quarter revenue fell to approximately $33.6 million, a 4% decrease compared to the same period last year and an 11% drop from the first quarter of 2025. The decline was primarily driven by weak sales of its Light Delivery Devices (LDDs), which fell 49% YoY and 45% sequentially.
While the company sold 27,380 Light Adjustable Lenses during the quarter, representing a 13% increase compared to Q2 2024, it was a 1% decrease from the previous quarter. LDD sales were particularly concerning, with only 40 units sold compared to 78 in the same quarter last year.
"Guided by insights from our second quarter underperformance and building on our long-term vision, we are evolving our commercial approach to re-direct more of our focus toward supporting customer success within new and existing practices," said Dr. Ron Kurtz, CEO and President of RxSight.
Despite the revenue challenges, RxSight raised its gross margin guidance to 72-74% from the previous 71-73% and reduced its operating expense forecast to $145-155 million. The company reported preliminary cash, cash equivalents, and short-term investments of $227.5 million as of June 30, 2025.
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