RXST RxSight, Inc.

Overview and Growth

In fiscal 2025, RxSight, Inc. recorded $134.48M of revenue, net loss of $38.94M, and an operating cash outflow of $15.51M. Revenue of $134.48M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $139.93M in fiscal 2024, revenue decreased 3.9%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$0.95, which connects the reported earnings outcome with the company’s diluted share count. The diluted weighted-average share count was 40.85M, linking total earnings with the per-share result received by shareholders. The company employed $311.81M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.43x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $103.01M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 76.6% of revenue, quantifying the portion retained before operating expenses were recognized. The company recorded an operating loss of $48.19M after the reported operating expense base. The operating loss equaled 35.8% of revenue, showing the scale of the operating deficit relative to sales. The company ended the period with a net loss of $38.94M, extending the operating result through all remaining items. Net margin was -29.0%, reflecting a loss equal to 29.0% of reported revenue. EBITDA was negative $44.92M, showing a deficit before interest, taxes, depreciation, and amortization. The company reported a pretax loss of $38.88M, before the effect of income taxes. Pretax margin was -28.9%, reflecting a pre-tax loss equal to 28.9% of revenue. The reported income-tax provision was $66.00K, the amount recognized between pretax income and the final net-income result. The loss-to-equity relationship was 14.1%, placing the bottom-line deficit against shareholder capital. The loss-to-assets relationship was 12.5%, placing the bottom-line deficit against the company’s resource base. The bottom-line deficit increased from $27.45M in fiscal 2024 to $38.94M.

Liquidity and Capital Structure

At period end, the $311.81M asset base was financed through $36.13M of liabilities and $275.68M of equity. The near-term balance sheet paired $287.46M of current assets with $26.25M of current liabilities at the reporting date. The current ratio was 10.95x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $19.95M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 76.0% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Equity equaled 88.4% of assets, showing the shareholder-capital layer within the company’s balance sheet. Relative to total assets, liabilities measured 11.6%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 6.4%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $318.56M in fiscal 2024, the current asset base moved 2.1% and finished lower. Reported equity changed 2.0% from $281.24M in fiscal 2024, placing the current capital base lower year over year. The reported cash balance changed 19.4% from $16.71M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $15.51M, rather than cash generation from operations. The company spent $3.83M on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. The company recorded a $19.34M cash deficit after capital spending for the period. The free-cash-flow deficit equaled 14.4% of revenue, showing the post-investment cash shortfall relative to sales. Relative to total assets, the post-investment cash deficit measured 6.2%.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.