RxSight's (RXST) updated revenue outlook for 2025 shows "additional conservatism," Oppenheimer said in a note Wednesday.
The revenue guidance cut to $120 million to $130 million from the previous outlook of $160 million to $175 million implied further reduced utilization in H2, the firm said.
Oppenheimer added that the company's pre-announced Q2 sales of $33.6 million missed the firm's forecast of $39.6 million and the Street's estimate of $39.8 million, due to "significantly lower than expected" placements of light delivery devices.
"Utilization of already installed LDDs also slightly trailed our thinking," the firm said. "Management pointed to slower than expected ramp of newer customers."
Oppenheimer lowered the company's rating to perform from outperform and removed its $28 price target.
RxSight were down 44% in recent trading.
Price: 7.32, Change: -5.47, Percent Change: -42.77
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