RxSight Product Sales Fall as Alcon Cash Arrives

The Tip Desk · November 3, 2026 · 2 min read

Third-quarter revenue was $24.6 million, down 19% from a year earlier, as the company booked $60 million from Alcon.

RxSight, Inc. (RXST), the ophthalmic medical device company, reported third-quarter 2026 revenue of $24.6 million, down 19% from the year-earlier period, and said the decline primarily reflected ongoing competitive pressures.

Product sales were $24.5 million, versus $30.3 million a year earlier, on 23,128 Light Adjustable Lens units. Sequential product sales fell from $27.2 million in the second quarter, when the company sold 24,917 LAL units. License and collaboration revenue was $40 thousand in the quarter, minimal versus $6.5 million recognized in the second quarter under the Alcon strategic collaboration.

Gross margin was 73.6%, compared with 79.9% in the prior-year period, primarily reflecting an increase in inventory reserves and higher inventory costs for LAL and LDD, partially offset by favorable product mix. The Alcon collaboration had an immaterial impact on gross margin during the quarter. Total costs and expenses were $43.1 million, relatively consistent versus $42.5 million in the year-ago period.

The company reported a net loss of $16.2 million, or $0.39 a share, compared with a net loss of $9.8 million, or $0.24 a share, in the third quarter of 2025. Adjusted net loss was $8.6 million, or $0.21 a share, versus an adjusted net loss of $1.7 million, or $0.04 a share, a year earlier.

Cash, cash equivalents and short-term investments totaled $254.7 million as of September 30, 2026, including $60 million received in the third quarter in connection with the Alcon collaboration. The balance sheet also showed a $50 million refund liability among current liabilities.

President and Chief Executive Officer Aziz Mottiwala, who joined last quarter, said the team had moved quickly and accomplished a great deal in a short period. The company said it strengthened commercial leadership with the appointments of Taryn Conway as Chief Commercial Officer and Frank Shields as EVP of Sales and Commercial Strategy, nearly doubled its U.S. sales force to support deeper customer engagement, and completed significant organizational restructuring to better align resources with strategic priorities and drive meaningful operating-expense savings in the core business.

The company also said the Alcon partnership was off to a strong start and that the initial 120-day period under the agreement was now complete. Mottiwala said the company had made progress across key long-term growth initiatives and taken decisive actions to align its cost structure with its priorities, and that, based on that progress, he was confident the company was positioning itself for long-term success.

The Light Adjustable Lens system, comprising LAL and LAL+ products, the Light Delivery Device and accessories, remains the first and only commercially available intraocular lens technology that can be adjusted after surgery.