RxSight (RXST) Q2 2026 earnings summary

Executive summary

• New CEO Aziz Mottiwala was appointed, and a comprehensive business review was initiated, including the withdrawal of 2026 financial guidance to maintain flexibility for strategic changes.

• A major strategic collaboration with Alcon was announced, providing a $60 million upfront payment, up to $140 million in milestone payments, and potential long-term royalties, validating the technology and strengthening the capital position.

• The company emphasized the unique value and future potential of its adjustable lens technology, supported by strong physician confidence and robust clinical evidence.

Financial highlights

• Q2 2026 total revenue was $33.7 million, including $6.5 million from the Alcon collaboration; product sales excluding Alcon were $27.2 million, down 19% year-over-year.

• Net loss for Q2 2026 was $12.1 million ($0.29 per share); adjusted net loss was $4.6 million ($0.11 per share).

• Gross margin excluding Alcon was 71.2% (down from 74.9%); including Alcon, gross margin was 76.7%.

• Cash, equivalents, and short-term investments were $208.8 million at quarter end, not including a $60 million Alcon payment received after quarter close.

• SG&A expense rose to $30.4 million, mainly due to legal and consulting costs; R&D expense declined to $9.2 million.

Outlook and guidance

• Formal full-year 2026 guidance was withdrawn to allow for a thorough business assessment and resource reallocation; guidance will resume with Q4 2026 results in early 2027.

• $30–$40 million in Alcon-related revenue expected for 2026, with most recognized in Q4.

• Management expects continued net losses and negative cash flows in the near term but believes current liquidity is sufficient for at least 12 months.