The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Robbie Marcus - JPMorgan - Analyst
:
Question: Robbie Marcus - JPMorgan - Analyst
: I agree. I think it was 41% sales growth in the fourth quarter. But we did see, historically since the IPO, multiple quarters where you would exceed
the guidance expectation. And even in the first half of the year, you beat and you raised more than the beat with in-line sales in third and fourth
quarter.
So I guess the question is, did something change versus your plan or has your guidance philosophy changed? I'm trying to think about 2025. Should
we expect much more of the upside in the first half of the year versus the guide if it plays out the same? Or maybe help me understand, since it
was a pretty in line -- still strong growth, but still in line in the second half.
Question: Robbie Marcus - JPMorgan - Analyst
: Great. Maybe if we look to 2025, how should we think about the key drivers relative between LDDs and LALs? And any different dynamics as we
move into 2025 versus '24 we should be considering?
Question: Robbie Marcus - JPMorgan - Analyst
: I know you're launched in Canada. You have plans to enter Europe this year. How should we think about what's embedded for US versus outside
US revenue in the guidance range?
Question: Robbie Marcus - JPMorgan - Analyst
: Shelley, if I look at your guidance, modest to me is plus or minus $5 million. Is that a good place to be in?
Question: Robbie Marcus - JPMorgan - Analyst
: Okay.
Question: Robbie Marcus - JPMorgan - Analyst
: Okay. Can you talk about the capital equipment environment? You do have an LDD that costs over $100,000. You've done phenomenally well
placing this since you went public, exceeded expectations.
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JANUARY 15, 2025 / 5:45PM, RXST.OQ - Rxsight Inc at JPMorgan Healthcare Conference
With interest rates high, what are you seeing in the market? And has that changed at all? Does the commentary that you're going to give hold also
for the outside US markets as well?
Question: Robbie Marcus - JPMorgan - Analyst
: As you've grown, your utilization per user has grown as well. So if you look at it, whether you segment it by quartiles or however you look at your
user base, what are you seeing in terms of utilization and the split from your highest users and your lowest users? And what are you doing to help
get the average up closer to the highest users?
Question: Robbie Marcus - JPMorgan - Analyst
: Maybe I could ask it a different way. Instead of volumes, maybe percentage of total IOL procedures. How do you see your highest users? I imagine
you have some that are doing 100% or close to 100% and some much lower. And I guess, where does it stand on average? And how much more
room is there theoretically to go in realistically?
Question: Robbie Marcus - JPMorgan - Analyst
: Maybe talk to the selling experience. Because from the physician perspective, being able to convert the nonpremium to premium is a very lucrative
proposition. But I imagine you walk in and you lead with clinical data and then talk about the business model as well. So maybe just speak to the
sales experience and the receptivity you're receiving around the country.
Question: Robbie Marcus - JPMorgan - Analyst
: Shelley, you've expressed a longer-term gross margin target of 80% as you shift more to higher-margin LALs versus LDDs. How should we think
about your pacing towards that target and the time lines to get there?
Question: Robbie Marcus - JPMorgan - Analyst
: Ron mentioned expanding the sales force this year. I imagine that's necessary to help sustain top-line growth, but how should we think about OpEx
growth in 2025 and the charge towards profitability?
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