RxSight CFO exit raises concerns over pace of recovery, BTIG says

Investing.com -- RxSight shares face uncertainty after the company announced an unexpected chief financial officer transition.

BTIG said the departure of CFO Shelley Thunen, who has been with RxSight since before its 2021 IPO, was surprising given early signs of operational improvement.

Thunen will remain in the role until a successor is named or January end. The brokerage said management indicated full year 2025 guidance remains unchanged following the announcement.

The CFO change follows a separate management reshuffle disclosed earlier this month, with new leadership roles created across business development and customer functions. BTIG said the timing of multiple leadership transitions points to ongoing commercial challenges and could push a broader recovery further into 2026, despite some recent progress.

RxSight continues to shift its focus toward improving utilization of its light adjustable lens system after several quarters of underperformance.


Management has rolled out new practice development and clinical engagement programs aimed at helping surgeons improve confidence and adoption, which BTIG said is a necessary step after missed low double digit sales growth and weaker utilization trends.

For 2025, RxSight expects revenue of $125M to $130M, implying a decline of 11% to 7% from the prior year and broadly in line with Street expectations.



Gross margin guidance was raised to 76% to 77% from 72% to 74%, reflecting a higher mix of lenses, while operating expense guidance was maintained at $145M to $155M.

BTIG kept a Neutral rating, citing limited visibility into the timing of a sustained recovery.

While the stock trades at a steep discount to peers on a forward sales basis, the brokerage said macro pressures on cataract volumes and increasing competition from new multifocal lens launches continue to cap near term upside.

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