RxSight, Inc. Announces Preliminary Unaudited Fourth Quarter and Full Year 2021 Financial and Operational Results
January 09 2022 - 4:00PM
(NASDAQ: RXST) RxSight, Inc., an ophthalmic
medical device company dedicated to improving the vision of
patients following cataract surgery, today announced preliminary
unaudited financial and operational results for the fourth quarter
and fiscal year 2021.
Preliminary Unaudited Results
- Preliminary unaudited fourth quarter 2021 revenue is expected
to be approximately $8.4 million, representing growth of
approximately 71% compared to the prior year period, driven by:
- Sale of 45 Light Delivery Devices (LDD™s), expanding the
installed base to 206 LDDs as of December 31, 2021; and
- Sale of 2,959 Light Adjustable Lenses (LAL®s).
- Preliminary unaudited 2021 fiscal year revenue is expected to
be approximately $22.6 million, representing growth of
approximately 54% compared to the prior year, driven by:
- Sale of 114 LDDs; and
- Sale of 8,328 LALs.
- Preliminary unaudited cash, cash equivalents and short-term
investments as of December 31, 2021, is expected to be
approximately $159.3 million.
“Our fourth quarter financial results demonstrate continued
adoption by innovative cataract surgeons and further acceptance by
patients of the RxSight® value proposition for customized vision
after cataract surgery,” said Ron Kurtz, CEO and President of
RxSight. “With increasing awareness and availability of our LAL
technology, the completed roll-out of ActivShield™, and our growing
commercial team, we believe we are well positioned to drive
continued growth in 2022.”
The Company’s fourth quarter and full year 2021 financial
results are preliminary and are subject to the completion of the
Company’s 2021 audit. Audited fourth quarter and full year 2021
financial results will be announced in early March.
About RxSight, Inc.RxSight, Inc. is a
commercial-stage medical technology company dedicated to improving
the vision of patients following cataract surgery. The RxSight
Light Adjustable Lens system, comprised of the RxSight Light
Adjustable Lens (LAL), RxSight Light Delivery Device (LDD) and
accessories, is the first and only commercially available
intraocular lens (IOL) technology that enables doctors to customize
and optimize visual acuity for patients after cataract surgery. The
LAL now features ActivShield technology, a revolutionary UV
protection layer built into the lens. Additional information about
RxSight can be found at www.rxsight.com.
Forward-Looking StatementsThis press release
contains “forward-looking statements,” including statements
concerning our preliminary unaudited fourth quarter and fiscal 2021
financial and operational results and anticipated continued growth
in 2022. Forward-looking statements are subject to known and
unknown risks and uncertainties, many of which may be beyond our
control. Investors should review the risks and uncertainties
contained in our filings with the Securities and Exchange
Commission (“SEC”), including our Quarterly Report on Form 10-Q for
the quarter ended September 30, 2021 filed with the SEC on November
10, 2021, as well as other risks set forth in our other filings
with the SEC. We caution you that the forward-looking information
presented in this press release is not a guarantee of future
events, and that actual events may differ materially from those
made in or suggested by the forward-looking information contained
in this press release. In addition, forward-looking statements
generally can be identified by the use of forward-looking
terminology such as “may,” “plan,” “seek,” “will,” “expect,”
“intend,” “estimate,” “anticipate,” “believe” or “continue” or the
negative thereof or variations thereon or similar terminology. Any
forward-looking information presented herein is made only as of the
date of this press release, and we do not undertake any obligation
to update or revise any forward-looking information to reflect
changes in assumptions, the occurrence of unanticipated events, or
otherwise.
The foregoing financial and operational results are preliminary
estimates. We are in the process of finalizing our financial
statements for the year ended December 31, 2021, and our actual
results remain subject to completion of those financial statements
and their audit by our independent registered public accounting
firm. These preliminary estimates are based on information
available to management as of the date of this press release and
certain related assumptions, which could prove incorrect. Our
actual, reported results of operations could differ based on
completion of our year end closing procedures, final adjustments
and developments that may arise prior to completion of our annual
financial statements, and adjustments arising from the audit by our
independent registered public accounting firm. You should carefully
review our audited, consolidated financial statements for the year
ended December 31, 2021 when they become available.
Investor contact:Philip Taylor Gilmartin
Group415-937-5406IR@rxsight.com
Company contact:Shelley B. ThunenChief
Financial OfficerRxSight Inc.949-521-7830IR@rxsight.com
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