RXSIGHT Reports Record Q2 Earnings for 2023 Financial Year
August 26, 2023
🌥️Earnings Overview
RXSIGHT ($NASDAQ:RXST) revealed their Q2 earnings for 2023 on June 30th, totaling USD 20.8 million in revenue, an increase of 83.2% compared to the same period in the prior year. Net income saw a marked improvement, rising from -16.7 million in Q2 of the previous year to -13.8 million for Q2 2023.
Market Price
On Monday, RXSIGHT reported record earnings for the 2023 financial year and, in response to this news, their stock opened at $30.0 and closed at $28.8, down by 4.1% from its prior closing price of 30.1. With the release of their latest earnings report, investors are optimistic that the company will continue to perform well in the future and that its stock price will continue to rise. The strong second-quarter earnings of RXSIGHT have been supported by positive customer feedback, successful product launches, and increased market penetration.
As RXSIGHT continues to expand its presence in the industry, it is expected that their financial performance will continue to improve. With their latest earnings report, RXSIGHT has shown that they are well-positioned to remain a leader in the industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Rxsight. More…
| Total Revenues | Net Income | Net Margin |
| 67 | -59.44 | -88.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Rxsight. More…
| Operations | Investing | Financing |
| -54.35 | -33.01 | 72.05 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Rxsight. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 195.26 | 38.07 | 4.47 |
Key Ratios Snapshot
Some of the financial key ratios for Rxsight are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 179.6% | – | -80.0% |
| FCF Margin | ROE | ROA |
| -86.4% | -22.2% | -17.2% |
Analysis
At GoodWhale, we conducted an analysis of RXSIGHT‘s financials and have come to the conclusion that it is a high risk investment in terms of financial and business aspects. Our Risk Rating system provides an indication of how risky a particular investment may be, and in this case, it has determined that RXSIGHT is quite risky. We have identified four risk warnings in the income sheet, balance sheet, cashflow statement and financial journal associated with RXSIGHT. To get more information on these risk warnings and to see our full analysis, become a registered user on our website. With our Risk Rating system and comprehensive analysis of RXSIGHT’s finances, we can help you make an informed decision about whether or not to invest in RXSIGHT. More…
Peers
The company was founded in 2007 and is headquartered in Irvine, California. RxSight Inc has a number of competitors, including Motus GI Holdings Inc, Imagin Medical Inc, and TransMedics Group Inc.
– Motus GI Holdings Inc ($NASDAQ:MOTS)
Motus GI Holdings Inc is a medical technology company that specializes in the development and commercialization of gastrointestinal diagnostic and therapeutic devices. The company’s devices are designed to improve the quality of GI care and reduce the cost of GI procedures. Motus GI’s products include the motusDx diagnostic platform, the motusPHOTO therapeutic device, and the motusPILL capsule endoscopy system.
– Imagin Medical Inc ($OTCPK:IMEXF)
Imagin Medical Inc is a medical technology company that specializes in the development of novel imaging devices. The company’s flagship product is the i/Blue Imaging System, which is an imaging platform designed to improve the accuracy and efficiency of cancer diagnosis and surgery. Imagin Medical Inc’s market cap as of 2022 is 1.45M, and its ROE is 33.13%. The company’s products are used by surgeons and radiologists to more accurately detect and remove cancerous tissue.
– TransMedics Group Inc ($NASDAQ:TMDX)
TransMedics Group Inc is a medical technology company that develops and commercializes products to address organ transplantation. The company’s products are designed to improve transplant outcomes by preserving organs outside the body and by monitoring organs during transplantation. TransMedics Group Inc has a market cap of 1.84B as of 2022, a Return on Equity of -20.11%. The company’s products are designed to improve transplant outcomes by preserving organs outside the body and by monitoring organs during transplantation.
Summary
RXSIGHT reported their Q2 earnings for the year 2023 at USD 20.8 million in total revenue, representing a growth of 83.2% year-on-year. However, net income for the quarter was USD -13.8 million, a slight improvement from the same period last year. Despite the positive revenue growth, the results did not meet market expectations and the stock price dropped on the same day. Investors should be cautious when considering RXSIGHT as an investment, as strong revenue growth does not necessarily translate to improved profitability.
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