Item 2.02 Results of Operations and Financial Condition.
On January 8, 2023, RxSight, Inc. (the "Company") issued a press release
announcing certain preliminary unaudited fourth quarter and full-year 2022
financial and operational results. A copy of the press release is furnished
herewith as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information
furnished in this Current Report on Form 8-K under Item 2.02 and the exhibit
attached hereto shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), or
incorporated by reference in any filing under the Securities Act of 1933, as
amended, or in any filing under the Exchange Act, except as shall be expressly
set forth by specific reference in such a filing.
Item 8.01 Other Events.
On January 8, 2023, the Company reported the following preliminary unaudited
fourth quarter and full year 2022 financial and operational results:
•
Preliminary unaudited fourth quarter 2022 revenue is expected to be
approximately $16.1 million, representing growth of approximately 91% compared
to the prior year period, driven by:
o
The sale of 57 Light Delivery Devices (LDD™s), expanding the installed base to
400 LDDs as of December 31, 2022; and
o
The sale of 9,123 Light Adjustable Lenses (LAL®s).
•
Preliminary unaudited revenue for 2022 is expected to be approximately $49.0
million, representing growth of approximately 117% compared to the prior year,
driven by:
o
The sale of 195 LDDs; and
o
The sale of 25,284 LALs.
Preliminary unaudited cash, cash equivalents and short-term investments as of
December 31, 2022, is expected to be $105.8 million, which includes $6.0 million
in net proceeds from sales of shares of the Company's common stock sold through
the Company's "at-the-market" offering during the fourth quarter of 2022.
The foregoing financial and operational results are preliminary estimates. The
Company is in the process of finalizing its financial statements for the year
ended December 31, 2022, and its actual results remain subject to completion of
those financial statements and their audit by the Company's independent
registered public accounting firm. These preliminary estimates are based on
information currently available to management, and certain related assumptions,
and are not a comprehensive statement of our financial or operational results
for the quarter or year ended December 31, 2022. The Company's actual, reported
results of operations could differ materially from these estimates based on
completion of its year end closing procedures, final adjustments and
developments that may arise prior to completion of its annual financial
statements, and adjustments arising from the audit by the Company's independent
registered public accounting firm. You should carefully review our audited,
consolidated financial statements for the year ended December 31, 2022, when
they become available. Audited full-year 2022 and unaudited fourth quarter 2022
financial results are anticipated to be announced in early March 2023.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All statements
contained in this Current Report on Form 8-K that do not relate to matters of
historical fact should be considered forward-looking statements, including,
without limitation, statements concerning our preliminary unaudited fourth
quarter and full-year 2022 financial and operational results and the anticipated
timing for announcement of our unaudited fourth quarter and audited full-year
2022 financial results. 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, 2022, filed with the SEC
on November 7, 2022, 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
Current Report on Form 8-K is not a guarantee of future events, and that actual
events may differ materially from those described in or suggested by the
forward-looking information contained in this Current Report on Form 8-K. In
addition, forward-looking statements generally can be identified by the use of
forward-looking terminology such as "may," "will," "should," "could," "would,"
"expects," "plans," "intends," "anticipates," "believes," "estimates,"
"predicts," "projects," "potential," or "continue" or the negative of such terms
and other similar terminology. Any forward-looking information presented herein
is made
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only as of the date of this Current Report on Form 8-K, 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.
Item 9.01 Financial Statements and Exhibits.
Exhibit Description
number
99.1 Press Release dated January 8, 2023.
104 Cover Page Interactive Data File (embedded within the inline XBRL
document).
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