Ilya Goldshleger, Co-President and Chief Operating Officer of RxSight, Inc. (NASDAQ:RXST), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On November 15 and 18, Goldshleger sold a total of 7,975 shares of RxSight common stock, generating proceeds of $363,752. The sale prices ranged between $45.00 and $46.00 per share.
In tandem with these sales, Goldshleger also acquired shares through stock option exercises. On November 15, he exercised options to acquire 4,875 shares at a price of $15.08 per share. On November 18, he exercised options for an additional 3,100 shares, also at $15.08 per share. These transactions were part of a pre-established trading plan under Rule 10b5-1, which allows company insiders to sell a predetermined number of shares at a predetermined time.
Following these transactions, Goldshleger holds 42,246 shares of RxSight directly. Additionally, he has indirect ownership of 1,372 shares through his spouse.
In other recent news, RxSight reported a significant revenue increase in its Q3 2024 earnings, with revenue reaching $35.3 million, reflecting a 59% growth from the previous year. The company attributed this growth to the surge in sales of its Light Adjustable Lens (LAL) and Light Delivery Device (LDD) installations. The gross margin improved notably, reaching 71.4%, while the GAAP net loss narrowed to $6.3 million.
The company’s outlook for the full year 2024 includes an expected revenue of approximately $140 million and a gross margin of 70% to 71%. RxSight also outlined its plans to enhance market penetration in North America and expand into global markets in 2025.
In addition to these financial highlights, RxSight successfully launched LAL+ in the U.S. and received approval in Canada. Despite the positive trajectory, the company noted some practices are experiencing slower adoption rates for LAL technology. However, the company remains optimistic, expecting regulatory approvals for international markets in the coming months.
InvestingPro Insights
RxSight, Inc. (NASDAQ:RXST) has shown impressive growth and financial resilience, which provides context to the recent insider transactions by Co-President and COO Ilya Goldshleger. According to InvestingPro data, the company’s revenue growth stands at a robust 67.52% over the last twelve months as of Q3 2023, with quarterly revenue growth at 59.08% in Q3 2023. This strong top-line performance aligns with the…
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